McFall Company provided the following information.
(Amounts in millions)
Dividends	$12	Cash balance, December 31, 2016	$150
Retained earnings, December 31, 2015	68	Rent expense	16
Utilities expense	22	Property and equipment	32
Salary expense	31	Accounts payable	60
Revenues	140	Total stockholders' equity, December 31, 2016 (consists of common stock and retained earnings)	167
Accounts receivable	55
Long-term assets	17
Long-term note payable	27

Prepare the following financial statements (with proper headings) for 2016:
Check your spelling carefully and do not abbreviate.
1. Income statement
Enter all amounts as positive values.
2. Statement of retained earnings
Use a minus sign or parentheses for any reductions.
3. Balance sheet
Enter each account name in one cell. (DO NOT split account names among more than one cell.)
In the Equity section, list each account separately.