Consider Walmart, the world's largest retailer. Classify the following items as an asset (A), a liability (L), or an owners' equity (E) item for Walmart:
____ a. Accounts payable
____ b. Common shares
____ c. Cash
____ d. Retained earnings
____ e. Land
____ f. Prepaid expenses
____ g. Accounts receivable
____ h. Long-term debt
____ i. Merchandise inventories
____ j. Notes payable
____ k. Accrued expenses payable
____ l. Equipment