Required information M1-16 Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet [LO 1-2,...

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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 $ 4,045 770 10,600 3,160 1,315 50 16,650 Income Tax Expense Interest Expense Landing Fees Expense Notes Payable 380 320 5,000 7,045 Repairs and Maintenance Expense Retained Earnings (as of December 31, 2017) 3,100 8,950 3,565 Salaries and wages Expense Supplies Ticket Revenues 775 26,600 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 $ 4,045 770 10,600 3,160 1,315 50 16,650 Income Tax Expense Interest Expense Landing Fees Expense Notes Payable 380 320 5,000 7,045 Repairs and Maintenance Expense Retained Earnings (as of December 31, 2017) 3,100 8,950 3,565 Salaries and wages Expense Supplies Ticket Revenues 775 26,600