1. Classify the following as: Asset Liability Equity Revenue Expense . . . a. Cost of Goods Sold b. Office equipment C. Wages expense d. Salary payable e. Dividends f. Art fees earned 8. Prepaid rent h. Accounts receivable i. Income tax expense j. Common Stock 2. Complete the Accounting Equation a. Assets = 24,000 Liabilities = 4,000 Equity = b. Equity = 6,000 Assets = 10,000 Liabilities = C. Liabilities = 4,000 Equity = 3,000 Assets