Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Target Corporation. (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). ($ millions) Amount Classification Sales $48,163 6,178 Accumulated depreciation Depreciation expense Retained earnings 1,320 9,648 Net income 1,841 16,969 . Property, plant & equipment, net Accounts receivable 5,776 Total liabilities 20,327 11,534 Selling, general & administrative expense Stockholders' equity 11,065 (b) Using the data, compute total assets and total expenses. Total Assets = $ Total Expenses = $