Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash Common Stock Dividends Equipment Income Tax Expense $ 4,650 580 8,700 2,970 1.220 20 14,370 200 Interest Expense Landing Fees Expense Notes Payable Repairs and Mointenance Expense Retained Earnings (os of December 31, 2017) Salaries and Wages Expense Supplies Ticket Revenues 130 3.100 6,950 1.200 5.780 2.280 680 17.100 33 CHAPTER 1 Business Decisions and Financial Accounting 1. Prepare an income statement for the year ended December 31, 2017, 2. Prepare a statement of retained earnings for the year ended December 31, 2017 TIP: Assume the balance in Retained Earnings was $5,370 million) at January 1, 2017 3. Prepare a balance sheet at December 31, 2017 4. Using the balance sheet, indicate whether the total assets of National Airways at the end of the year were financed primarily by liabilities or stockholders' equity