Presented below is a list of financial statement accounts. Using the letter A for assets, L for liabilities, SE for shareholders’ equity, R for revenue, E for expenses, and N/A for not applicable, identify (a) whether the listed accounts appear on the balance sheet (B/S) or income statement (I/S), and if so, (b) the nature of the account (A, L, SE, R, E, or N/A).

1. Accounts receivable 

2. Comman stock 

3. Sales 

4. Land 

5. Retained earning 

6. Notes payable 

7. Dividends paid 

8. Inventory 

9. Depreciation expense 

10. Accounts payable 

11. Cash flow from operating activities 

12. Cash 

13. Cost of goods sold 

14. Equipment 

15. Selling expense 

16. Interest income