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Problem 2 See textbook, pages 26-31. Fill in the blank spaces as indicated below: Balance sheet (BS) Income statement (IS) Current liabilities (CL) Long-term liabilities

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Problem 2 See textbook, pages 26-31. Fill in the blank spaces as indicated below: Balance sheet (BS) Income statement (IS) Current liabilities (CL) Long-term liabilities (LL) Stockholders' equity (SE) . Current assets (CA) . Fixed assets (FA) Indicate Whether Item Is on Balance Sheet (BS) or Income Statement (IS) If on Balance Sheet, Designate Which Category (CA,FA,CL,LL,SE) Item Accounts receivable Retained earnings Income tax expense Accrued expenses Cash Selling and administrative expenses Plant and equipment Operating expenses Marketable securitics Interest expense Sales Notes payable (6 months) Bonds payable, maturity 2025 Common stock Depreciation expense Inventorics Capital in excess of par value Accumulated depreciation Income tax payable

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