The following accounts appeared in recent financial statements of Delta Air Lines:

 

Accounts Payable                                                             Flight Equipment Advanced Payments for Equipment                    Frequent Flyer (Obligations) Air Traffic Liability                              Fuel Inventory

Aircraft Fuel (Expense)                                                  Landing  Fees (Expense) Aircraft Maintenance (Expense)                             Parts and Supplies  Inventories

Aircraft Rent (Expense)                                                 Passenger  Commissions (Expense)

Cargo Revenue                                                                   Passenger Revenue

Cash                                                                                           Prepaid Expenses

Contract Carrier Arrangements (Expense)     Taxes Payable

Identify each account as either a balance sheet account or an income statement account. 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.