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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 Cashi Common Stock Dividends Equipment Income Tax Expense $4,225 690 9,800 3,080 1,275 50 15,690 300 Interest Expense 240 Landing Fees Expense 4,200 Notes Payable 7,005 Repairs and Maintenance Expense. 2,300 Retained Earnings (as of December 31) Salaries and Wages Expense 7,690 3,445 Supplies Ticket Revenues 735 22,600 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.).)
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