(Learning Objective 1: Classifying assets, liabilities, and owners’ equity) Consider Carrefour, a large retailer. Classify the following items as an Asset (A), a Liability (L), or Shareholders’ Equity (S) for Target:

a. ____ Accounts payable g. ____ Accounts receivable

b. ____ Share capital h. ____ Long-term debt

c. ____ Supplies i. ____ Merchandise inventory

d. ____ Retained earnings j. ____ Notes payable

e. ____ Land k. ____ Expenses payable

f. ____ Prepaid expenses l. ____ Equipment