take Book Calculator Print Item Indicate where each item would most ikoly be roported in the financial statements by selecting the corresponding components. Assume th monetary amount of each item is material 1. Purchases 2. Loss on sale of equipment 3. Utilities expense 4. Cash dividends declared on common stock 5. Bad debts expense 6. Sales salaries 7. Sales discounts taken 8. Transportation-in 9. Net income 10. Gain on retirement of long-term debt 11. Purchases returns and allowances 12. Premium on bonds payable 13. Gain on sale of land 14. Interest expernse 15. Delivery expense 16. Expenses incurred as a result of a strike 17. Summary of accounting policies 18. Gain on disposal of Division J Additions to retained earnings Cost of goods sold Deductions from retained earnings Ending balance sheet Unusual and nonrecurring General and adninistrative expenses Notes to financial statements Other items Results from discontinued operations Sales revenues (net) oo @