Response to the following problem:
The following accounts (in millions) were adapted from the financial statements of Apple Computer, Inc., for the year ending September 25, 2004:
Accounts Payable $2,680 Other Assets $ 651
Accounts Receivable 1,005 Other Income (net) 57
Capital Stock 2,406 Other Liabilities 294
Cash 2,969 Other Operating Expenses 23
Cost of Sales 6,020 Property, Plant, and Equipment 707
Goodwill and Other
Intangible Assets 122
Research and Development Expenses 489
Income Tax Expense 107
Retained Earnings, September 27, 2003 2,394
Inventories 101 Sales 8,279
Investments 2,495
Selling, General, and Administrative Expenses 1,421
(a) Identify each account as either a balance sheet account or an income statement account.
(b) For each balance sheet account, identify it as an asset, a liability, or stockholders' equity. For each income statement account, identify it as a revenue or an expense.
(c) Indicate the normal balance of the account.