Required information M1-16 Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet (LO 1-2, LO 1- 3] [The following information applies to the questions displayed below.) The following information was reported in the December 31, 2017, financial statements of National Airways, Inc. (listed alphabetically, amounts in millions). Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash Common Stock Dividends Equipment Income Tax Expense Interest Expense Landing Fees Expense Notes Payable Repairs and Maintenance Expense Retained Earnings (as of December 31, 2017) Salaries and Wages Expense Supplies Ticket Revenues $ 4,650 580 8,700 2,970 1,220 20 14,370 260 130 3,100 6,950 1,200 5,780 3,280 680 17,100 M1-16 Part 1 1. Prepare an income statement for the year ended December 31, 2017. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) NATIONAL AIRWAYS, INC. Income Statement (Amounts in millions) ces