E1-3 LO1-1 Matching Financial Statement Items to Financial Statement Categories Tootsie Roll Industries is engaged in the manufacture and sale of candy. Major products include Tootsie Roll, Tootsie Roll Pops, Tootsie Pop Drops. Tootsie Flavor Rolls, Charms, and Blow-Pop lollipops. The following items were listed on Tootsie Roll's recent income statement and balance sheet. Mart each item from the balance sheet as an asset (A). liability (L), or shareholders' equity (SE). item and mark each item from the income statement as a revenue (R) or expense (E) item. (1) Bank loans (10) Machinery and equipment (2) Selling, marketing and administrative expenses (11) Net product sales (3) Accounts payable (12) Inventories (4) Dividends payable (13) Trademarks (5) Retained earnings (14) Buildings (6) Cash and cash equivalents (15) Land (7) Accounts receivable (16) Income taxes payable (8) Provision for income taxes (17) Rental and royalty costs (9) Product cost of goods sold (18) Investments in other companies) nu Ch F1.4