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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,

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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 Interest Expense Landing Fees Expense Notes Payable Repairs and Maintenance Expense Retained Earnings (as of December 31) Salaries and Wages Expense Supplies Ticket Revenues $4,045 770 10,600 3,160 1,315 50 16,650 380 320 5,000 7,045 3,100 8,950 3,565 775 26,600 1. Prepare an income statement for the year ended December as 10.).) (Enter your answers in millions (i.e., 10,000,000 should be entered NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions)

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