Consider Target, a large retailer. Classify the following items as an Asset (A), a Liability (L), or Stockholders Equity (S) for Target:
a. ____ Accounts payable
b. ____ Common stock
c. ____ Supplies
d. ____ Retained earnings
e. ____ Land
f. ____ Prepaid expenses
g. ____ Accounts receivable
h. ____ Long-term debt
i. ____ Merchandise inventory
j. ____ Notes payable
k. ____ Expenses payable
l. ____ Equipment