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The following information was reported in the December 31, 2017, financial statements of National Airways, Inc. (listed alphabetically, amounts in millions). Accounts Payable Accounts Receivable

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The following information was reported in the December 31, 2017, financial statements of National Airways, Inc. (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, 2017) Salaries and Wages Expenso Supplies Ticket Revenuen $ 4,125 710 10,000 3,100 1,285 20 15,930 320 260 4,400 7,015 2.500 8,060 3,475 745 23,600 4. Using the balance sheet, indicate whether the total assets of National Airways at the end of the year were financed primarily liabilities or stockholders' equity Liabilities Stockholders' Equity

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