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The following items and amounts were taken from Familia Inc.’s 2022 income statement and balance sheet, the end of its first year of operations. Interest expense $ 2,200 Equipment, net $ 54,700 Interest payable 700 Depreciation expense 3,200 Notes payable 11,800 Supplies 4,100 Sales revenue 44,300 Common stock 26,800 Cash 2,900 Retained earnings ? Salaries and wages expense 15,600 Supplies expense 900

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Question is:

(a)  In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item as attached as picture

Answer

Items                            Identification

Interest expense           Expense

Interest payable            Liability

Notes payable               Liability

Sales revenue               Revenue

Cash                               Asset

Salaries and                   Expense

wages expense

Equipment, net               Asset

Depreciation expense   Expense

Supplies                          Asset

Common stock               Stockholder's equity

Retained earnings          Stockholder's equity

Supplies expense          Expense

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