Question 10 (1 point) In its first year of operations, Jetway Airlines incurred and paid Salaries Expense of $40 million. On December 31, it accrued an additional Salaries Expense of $2 million. What should Jetway report in the income statement and balance sheet for its first year ended December 31 ? Income statement: Salaries and Wages Expense $42 million; Balance sheet: Salaries and Wages Payable \$2 million Income statement: Salaries and Wages Expense $40 million; Balance sheet: Salaries and Wages Payable $2 million Income statement: Salaries and Wages Expense $40 million; Balance sheet: Salaries and Wages Payable $0 Income statement: Salaries and Wages Payable $2 million; Balance sheet: Salaries and Wages Expense $42 million