Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Proctor & Gamble.

(a) Indicate whether each account appears on the balance sheet (B) or income statement (I).

($ millions) Amount Classification

Sales $83,503

Net income 12,075

Accumulated depreciation 17,446

Depreciation expense 3,166

Retained earnings 48,986

Property, plant & equipment, net 20,640

Selling, general & administrative expense 25,725

Accounts receivable 6,761

Total liabilities 74,498

Stockholders' equity 69,494

(b) Using the data, compute total assets and total expenses.

Total Assets =

Total Expenses =