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 (1). ($ 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 = $