Homework Answers
a.
| Millions ($) | Amount | Classification |
| Sales | $83,503 | I |
| Net income | 12,075 | I |
| Accumulated depreciation | 17,446 | B |
| Depreciation expense | 3,166 | I |
| Retained earnings | 48,986 | B |
| Property, plant and equipment, net | 20,640 | B |
| Selling, general and administrative expense | 25,725 | I |
| Accounts receivable | 6,761 | B |
| Total liabilities | 74,498 | B |
| Stockholders' equity | 69,494 | B |
b.
Total assets = Property, plant and equipment + Accounts receivable
= 20,640 + 6,761
= $27,401
Total expenses = Depreciation expense + Selling, general and administrative expense
= 3,166 + 25,725
= $28,891
| Total assets | $27,401 |
| Total expenses | $28,891 |
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