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Requirement 1. Prepare the income statement (with a proper heading) for 2018. (Enter all amounts in millions. If a box is not used in the
Requirement 1. Prepare the income statement (with a proper heading) for 2018. (Enter all amounts in millions. If a box is not used in the income statement, leave the box empty, do not select a label or enter a zero.) Anton Company Statement of Retained Earnings Year Ended December 31, 2018 (millions) Revenue Revenue 71 Expenses Net income (loss) Anton incurred, during that same year, salary expense of $29 million, rent expense of $20 million, and utilities expense of $21 million. Anton declared and paid dividends of $17 million during the year. At December 31, 2018, Anton had cash of $175 million, accounts receivable of $85 million, property and equipment of $42 million, and other long-term assets of $26 million. At December 31, 2018, the company owed accounts payable of $55 million and had a long-term note payable of $35 million. Anton began 2018 with a balance in retained earnings of $71 million. At December 31, 2018, Anton had total stockholders' equity of $238 million, which consisted of common stock and retained earnings. Anton has a year-end of December 31
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