Question: (a) Indicate whether each account appears on the balance sheet (B) or income statement (I). ($ millions) Sales Accumulated depreciation Depreciation expense Retained earnings
(a) Indicate whether each account appears on the balance sheet (B) or income statement (I). ($ millions) Sales Accumulated depreciation Depreciation expense Retained earnings Amount $43,373 | Classification 10,438 B 1,703 I 11,686 B Net income 5,186 I Property, plant & equipment, net 13,104 B Accounts receivable 3,038 B Selling, general & administrative expense 13,009 I Total liabilities 27,520 B Stockholders' equity 16,186 B (b) Using the data, compute total assets and total expenses. Total Assets = $ 75,701 X Total Expenses = $ 24,592 x
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