EDGAR: The Boeing Company $($ticker: BA$)$

Visit www$.$sec$.$gov$/$edgar and search for the Boeing annual report $(10-$K$)$ for the year ended December $31,2019,$ using EDGAR $($Electronic Data Gathering, Analysis, and Retrieval system$).$ Locate its balance sheet, labeled $$Consolidated Statements of Financial Position,$$ and its income statement, labeled $$Consolidated Statements of Operations.$$ Use this information to answer the questions below.

Required:

Suppose that on January $1,2020,$ Boeing sells one of its $777$ series planes to Singapore Airlines on account$$its first and only transaction on the first day of the fiscal year. The sales price is $$400$ million and the inventory cost $$330$ million to manufacture. Record the journal entry for this transaction.

Which account$($s$)$ in the income statement would increase or decrease as a result of this transaction?

Which account$($s$)$ in the balance sheet would increase or decrease as a result of this transaction? What is the new balance in these accounts?

Update the December $31,2019,$ total amount of assets, liabilities and stockholders$$ equity to show that Boeing$$s balance sheet remains in balance after this transaction is properly recorded.