Identifying and Classifying Financial Statement Items For each of the following items, indicate whether they would be reported in the balance sheet (B) or income statement (I) Account Financial Statement a Net income AnswerBalance sheetIncome statement b Retained earnings AnswerBalance sheetIncome statement c Depreciation expense AnswerBalance sheetIncome statement d Accumulated depreciation AnswerBalance sheetIncome statement e Wages expense AnswerBalance sheetIncome statement f Wages payable AnswerBalance sheetIncome statement g Interest expense AnswerBalance sheetIncome statement h Interest payable AnswerBalance sheetIncome statement i Sales AnswerBalance sheetIncome statement

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Question: Identifying and Classifying Financial Statement Items For each of the following items, indicate whether they would be reported in the balance sheet (B) or income

Identifying and Classifying Financial Statement Items For each of the following items, indicate whether they would be reported in the balance sheet (B) or income statement (I).

Account	Financial Statement
a. Net income	AnswerBalance sheetIncome statement
b. Retained earnings	AnswerBalance sheetIncome statement
c. Depreciation expense	AnswerBalance sheetIncome statement
d. Accumulated depreciation	AnswerBalance sheetIncome statement
e. Wages expense	AnswerBalance sheetIncome statement
f. Wages payable	AnswerBalance sheetIncome statement
g. Interest expense	AnswerBalance sheetIncome statement
h. Interest payable	AnswerBalance sheetIncome statement
i. Sales	AnswerBalance sheetIncome statement

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