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Required information [The following information applies to the questions displayed below.] The following information was reported in the December 31 financial statements of National
Required information [The following information applies to the questions displayed below.] The following information was reported in the December 31 financial statements of National Airways, Incorporated (listed alphabetically, amounts in millions). Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash Common Stock Dividends Equipment Income Tax Expense $4,550 590 8,800 2,980 1,225 25 14,490 200 Interest Expense Landing Fees Expense Notes Payable 140 3,200 6,955 Repairs and Maintenance Expense 1,300 Retained Earnings (as of December 31) 6,015 Salaries and Wages Expense 3,295 Supplies Ticket Revenues 685 17,600 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.).) NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions)
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