Which of the following statements are true about the balance sheet. (Select all that apply.

[The following information applies to the questions displayed below.) 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 Earl of December 31, 2017) Salaries and Wages Expense Supplies Ticket Revenues $ 4,650 580 8,700 2,970 1,220 20 14,370 260 130 3,100 6,950 1,200 5,780 3,280 680 17,100 2. Prepare a statement of retained earnings for the year ended December 31, 2017. TIP: Assume the balance in Retained Earnings was $5,370 (million) at January 1, 2017. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) NATIONAL AIRWAYS, INC. Statement of Retained Earnings (Amounts in millions) Retained Earnings, January 1, 2017 $ 5,370 430 ses (Static) Saved Interest Expense Landing Fees Expense Notes Payable Repairs and Maintenance Expense Retained Earnings (as of December 31, 2017) Salaries and Wages Expense Supplies Ticket Revenues 130 3,100 6,950 1,200 5,780 3,280 680 17, 100 2. Prepare a statement of retained earnings for the year ended December 31, 2017 TIP: Assume the balance in Retained Earnings was $5,370 (million) at January 1, 2017. (Enter your answers in millions (l.e. 10,000,000 should be entered as 10.).) NATIONAL AIRWAYS, INC. Statement of Retained Earnings 5,370 430 (Amounts in millions) Retained Earnings, January 1, 2017 Add: Net Income Less: Dividends Retained Earnings, December 31, 2017 $ 5,740