NSTRUCTIONS: Indicate the placement on financial statements of the items listed below by inserting the appropriate letter or letters in the Answers column. Assume the use of the multiple-step income statement and the perpetual inventory system.

STATEMENTS

Income Statement

A. Administrative expenses H. Current assets

B. Cost of merchandise sold I. Current liabilities

C. Other expense J. Long-term liability

D. Other income K. Stockholders Equity

E Revenue from sales L. Property, plant, and Equipment

F. Selling expenses

Retained Earnings Statement

G. Retained Earnings Statement

ITEMS APPEARING ON STATEMENTS	Answers
0. Cash	H
1. Merchandise inventory at end of period
2. Cost of merchandise sold
3. Sales discounts
4. Interest expense
5. Loss on sale of fixed assets
6. Dividends
7. Interest receivable
8. Accumulated depreciationstore equipment
9. Interest revenue
10. Retained earnings at end of period
11. Sales
12. Store supplies expense
13. Mortgage note payable (payable in 2015)