Answer Happy

Tootsie Roll industries engaged in the manufacture and sale of candy. Major products include Tootsie Roll, Tootsie Roll Pops, Tootsie Pop Drops, Tootsie Flavor Rolls, Charms and Blow-Pop lollipops. The following items were listed on Tootsie Roll's recent income statement and balance sheet. Select each item from the balance sheet as an asset, liability, or shareholders' equity item and each item from the income statement as a revenue or expense item.