The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Liability Property, Plant, and Equipment Ass Expense Inventories Equity Long-Term Debt Revenue Cost of Goods Sold Liability Retained Earnings Research and Development Asset Exp Prepaid Expense Equity Common Stock Accounts Receivable Asset