Identify and Classify Balance Sheet and Income Statement Accounts

Following are selected accounts for Best Buy Inc. for the fiscal year ended February 2, 2019

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.

$ millionsAmountClassification

Sales$42, 879----

Accumulated depreciation6,690----

Depreciation expense770----

Retained earnings2,985----

Net income1,464-----

Property, plant, and equipment 2,510 -----

Selling, general, and administrative expense8,015 -----

Accounts receivable1,015----

Total liabilities9,595----

Total stockholders' equity3,306 ----