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[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
[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 | $4,460 |
---|---|
Accounts Receivable | 620 |
Aircraft Fuel Expense | 9,100 |
Cash | 3,010 |
Common Stock | 1,240 |
Dividends | 40 |
Equipment | 14,850 |
Income Tax Expense | 230 |
Interest Expense | 170 |
Landing Fees Expense | 3,500 |
Notes Payable | 6,970 |
Repairs and Maintenance Expense | 1,600 |
Retained Earnings (as of December 31) | 6,510 |
Salaries and Wages Expense | 3,340 |
Supplies | 700 |
Ticket Revenues | 19,100 |
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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