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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

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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 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 140 Landing Fees Expense 3,200 Notes Payable 6,955 Repairs and Maintenance Expense 1,300 Retained Earnings (as of December 31). 6,015 Salaries and Wages Expense 3,295 Supplies 685 Ticket Revenues 17,600

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