$1$

$2$

The following information was reported in the December $31$ financial statements of National Airways,

Incorporated $($listed alphabetically, amounts in millions$).$

$3$

$4$ Accounts Payable

$5$ Accounts Receivable

$6$ Aircraft Fuel Expense

$7$ Cash

$8$ Common Stock

$9$ Dividends

$10$ Equipment

$11$ Income Tax Expense

$12$ Interest Expense

$13$ Landing Fees Expense

$14$ Notes Payable

$15$ Repairs and Maintenance Expense

$16$ Retained Earnings $($as of December $31)$

$17$ Salaries and Wages Expense

$18$ Supplies

$19$ Ticket Revenues

$1$

$2$

The following information was reported in the December $31$ financial statements of National Airways,

Incorporated $($listed alphabetically, amounts in millions$).$

$3$

b$3$

$64$ NATIONAL AIRWAYS, Incorporated

Balance Sheet

At December $31$

$67$

L $2$

$($Amounts in millions$)$

$68$

Assets

$69$ Cash

$70$ Accounts Receivable

$71$ Fquipment

$72$ r

$73$ r

$74$ Total Assets

$$1,500$

$2,000$

$4,500$

$75$

$76$ Accounts Payable

$77$ V

$78$ V

$79$ Total Liabilities

$80$ Stockholders' Equity

$81$ Common Stock

$82$ Retained Earnings

$83$ V

$84\text{'}$otal Stockholders' Equity

$85$

$86$