M1-16 (Algo) Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet [LO 1-2, LO 1-3] Skip to question [The following information applies to the questions displayed below.] The following information was reported in the December 31 financial statements of National Airways, Incorporated (listed alphabetically, amounts in millions). Accounts Payable $4,460 Accounts Receivable 620 Aircraft Fuel Expense 9,100 Cash 3,010 Common Stock 1,240 Dividends 40 Equipment 14,850 Income Tax

Prepare an income statement for the year ended December 31. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).)