> 388 Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Staples, Inc., for the fiscal year ended January 30, 2016 (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). Staples, Inc. ($ millions) Amount Classification Sales $21,059 Accumulated depreciation 4,375 Depreciation expense Retained earnings 6,900 Net income Property, plant & equipment, net 1,586 Selling, general and admin expense 4,600 Accounts receivable 1,899 Total liabilities 4,788 + Stockholders' equity 5,384 379 > (b) Using the data, compute total assets and total expenses. Total Assets = $ Total Expenses = $