Raindrop Holdings Ltd is a public company. Listed below are items taken from its recent balance sheet and income statement. Mark each item in the following list as an asset (A), liability (L) or shareholders’ equity (SE) that would appear on the balance sheet, or revenue (R) or expense (E) that would appear on the income statement.

1 Property, plant and equipment 2 Sales revenue 3 Trade and other payables 4 Advertising costs 5 Provisions 6 Inventories 7 Prepayments 8 Borrowings 9 Reserves 10 Cash and cash equivalents 11 Depreciation 12 Cost of goods sold