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 (I).

Staples, Inc. ($ millions)	Amount	Classification
Sales	$21,059	AnswerBI
Accumulated depreciation	4,375	AnswerBI
Depreciation expense	388	AnswerBI
Retained earnings	6,900	AnswerBI
Net income	379	AnswerBI
Property, plant & equipment, net	1,586	AnswerBI
Selling, general and admin expense	4,600	AnswerBI
Accounts receivable	1,899	AnswerBI
Total liabilities	4,788	AnswerBI
Stockholders' equity	5,384	AnswerBI

(b) Using the data, compute total assets and total expenses.

Total Assets	= $Answer
Total Expenses	= $Answer