1. 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.).)

2. The empty space can only be Accounts payable, accounts receivable, aircraft fuel expense, cash, dividends, equipment, income tax expense, interest expense, landing fees expense, notes payable, repairs and maintenance expense, retained expense, salaries and wages expense, supplies, and ticket revenues. They can only be used once.

The following information was reported in the December 31 financial statements of National Airways, Incorporated (listed alphabetically, amounts in millions)