Identifying and Classifying Balance Sheet and Income Statement Accounts 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
Accumulated depreciation 4,375
Depreciation expense 388
Retained earnings 6,900
Net income 379
Property, plant & equipment, net 1,586
Selling, general and admin expense 4,600
Accounts receivable 1,899
Total liabilities 4,788
Stockholders' equity 5,384
B) Using the data, compute total assets and total expenses.
C) Compute net profit margin (net income/sales) and total liabilities-to-equity ratio (total liabilities/stockholders' equity).