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).

b. Using the following data, compute total assets and total expenses.

$ millions Amount Classification Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,059 Accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,375 Depreciation expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 388 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,900 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 379 Property, plant, and equipment, net . . . . . . . . . . . . . . . . . . . . . . 1,586 Selling, general, and administrative expense. . . . . . . . . . . . . . . . 4,600 Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,899 Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,788 Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,384