Financial Statement Classification Potential stockholders and lenders are interested in a company’s financial statements. Identify the statement—balance sheet (BS), income statement (IS), or retained earnings statement (RE)—on which each of the following items would appear.
________ 1. Accounts payable
________ 2. Accounts receivable
________ 3. Advertising expense
________ 4. Bad debt expense
________ 5. Bonds payable
________ 6. Buildings
________ 7. Cash
________ 8. Common stock
________ 9. Depreciation expense
________ 10. Dividends
________ 11. Land held for future expansion
________ 12. Loan payable
________ 13. Office supplies
________ 14. Patent
________ 15. Patent amortization expense
________ 16. Prepaid insurance
________ 17. Retained earnings
________ 18. Sales
________ 19. Utilities expense
________ 20. Wages payable