Question: According to its annual report, P&G's billion-dollar brands include Pampers, Tide, Ariel, Always, Pantene, Bounty, Charmin, Downy, Olay, Crest, Vicks, Gillette, Duracell, and others. The
According to its annual report, P&G's billion-dollar brands include Pampers, Tide, Ariel, Always, Pantene, Bounty, Charmin, Downy, Olay, Crest, Vicks, Gillette, Duracell, and others. The following are items taken from its recent balance sheet and income statement. Note that different companies use slightly different titles for the same item. Mark each item in the following list as an asset (A), liability (L), or stockholders' equity (SE) item that would appear on the balance sheet or revenue (R) or expense (E) item that would appear on the income statement.
(1) Accounts receivable
(2) Cash and cash equivalents
(3) Net sales
(4) Debt due within one year
(5) Taxes payable
(6) Retained earnings
(7) Cost of products sold
(8) Selling, general, and administrative expense
(9) Income taxes
(10) Accounts payable
(11) Trademarks and other intangible assets
(12) Property, plant, and equipment
(13) Long-term debt
(14) Inventories
(15) Interest expense
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