Following are selected accounts for Staples, Inc., for the fiscal year ended January 30, 2016

Following are selected accounts for Staples, Inc., for the fiscal year ended January 30, 2016 (a) Indicate whether each account appears on the balance sheet (B) or income statement (I).

Staples, Inc. ($ millions)	Amount	Classification
Sales	$21,059	AnswerBI
Accumulated depreciation	4,375	AnswerBI
Depreciation expense	388	AnswerBI
Retained earnings	6,900	AnswerBI
Net income	379	AnswerBI
Property, plant & equipment, net	1,586	AnswerBI
Selling, general and admin expense	4,600	AnswerBI
Accounts receivable	1,899	AnswerBI
Total liabilities	4,788	AnswerBI
Stockholders' equity	5,384	AnswerBI

(b) Using the data, compute total assets and total expenses.

Total Assets	Answer
Total Expenses	Answer

Constructing and Analyzing Balance Sheet Amounts from Incomplete Data
Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three recent years follow.

(a) Compute the missing balance sheet amounts for each of the three years shown.

($ millions)	Current Assets	Long-term Assets	Total Assets	Current Liabilities	Long-term Liabilities	Total Liabilities	Stockholders' Equity
2013	$12,733	Answer	$33,550	Answer	$8,104	$15,602	$17,948
2014	12,303	18,906	Answer	5,964	12,103	Answer	13,142
2015	Answer	21,732	32,718	7,118	13,853	20,971	Answer

(b) What types of accounts would we expect to be included in current assets? In long-term assets?

Account	Category
Accounts payable	AnswerCurrent assetLong-term assetNeither
Accounts receivable	AnswerCurrent assetLong-term assetNeither
Accrued expenses	AnswerCurrent assetLong-term assetNeither
Cash	AnswerCurrent assetLong-term assetNeither
Common stock	AnswerCurrent assetLong-term assetNeither
Goodwill	AnswerCurrent assetLong-term assetNeither
Inventories	AnswerCurrent assetLong-term assetNeither
Prepaid expenses	AnswerCurrent assetLong-term assetNeither
Property, plant and equipment	AnswerCurrent assetLong-term assetNeither
Retained earnings	AnswerCurrent assetLong-term assetNeither
Trademark	Answer