Question: The following accounts appeared in recent financial statements of Continental Airlines:

Accounts Payable                                                              Flight Equipment

Aircraft Fuel Expense                                                            Landing Fees

Air Traffic Liability                                                            Passenger Revenue

Cargo and Mail Revenue                                        Purchase Deposits for Flight Equipment

Commissions                                                              Spare Parts and Supplies

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.