Lewitas Ltd. earned revenues of \(\$ 35\) million during 2020 and ended the year with income of \(\$ 8\) million. During 2020, Lewitas Ltd. collected \(\$ 33\) million from customers and paid cash for all of its expenses plus an additional \(\$ 1\) million for accounts payable. Answer these questions about Lewitas's operating results, financial position, and cash flows during 2020 :

Requirements
1. How much were the company's total expenses? Show your work.

2. Identify all the items that Lewitas will report on its 2020 income statement. Show each amount 3. Lewitas began 2020 with receivables of \(\$ 4\) million. All sales were on account. What was the company's receivables balance at the end of 2020? Identify the appropriate financial statement, and show how Lewitas will report ending receivables in the 2020 annual report.

4. Lewitas began 2020 owing accounts payable totalling \(\$ 9\) million. How mugh in accounts payable did the company owe at the end of the year? Identify the appropriate financial statement, and show how Lewitas will report these accounts payable in its 2020 annual report.