Given the following code letters and components of financial statements indicate where each item would most likely be reported in the financial statements by inserting the corresponding code letters. Assume the monetary amount of each item is material.
Code Letter Component___________________________________________
A Sales revenues (net)
B Cost of goods sold
C Selling expenses
D General and administrative expenses
E Other items
F Results from discontinued operations
G Extraordinary items
H Prior period adjustments
I Additions to retained earnings (other than H)
J Deductions from retained earnings (other than H)
K Notes to financial statements
L Ending balance sheet

__________1. Purchases
__________2. Loss on sale of equipment
__________3. Utilities expense
__________4. Cash dividends declared on common stock
__________5. Bad debts expense
__________6. Sales salaries
__________7. Sales discounts taken
__________8. Transportation-in
__________9. Net income
__________10. Gain on retirement of long-term debt
__________11. Purchases returns and allowances
__________12. Premium on bonds payable
__________13. Gain on sale of land
__________14. Interest expense
__________15. Delivery expense
__________16. Expenses incurred as a result of a strike
__________17. Summary of accounting policies
__________18. Gain on disposal of Division J
__________19. Interest revenue
__________20. Additional paid-in capital on common stock
__________21. Loss from write-down of obsolete inventory
__________22. Administrative salaries
__________23. Stock dividends declared on common stock
__________24. Correction of erroneous understatement of last year’s ending inventory
__________25. Operating loss related to discontinued Division J
__________26. Additional depreciation on office equipment resulting from decrease in estimated useful life
__________27. Gain on sale of factory
__________28. Loss from frost damage in southern Arizona
__________29. Sales returns
__________30. Depreciation expense for office equipment
__________31. Sales commissions
__________32. Promotion expense
__________33. Merchandise inventory (beginning)