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, 155 700 9,900 3,090 1,280 15 15,810 310 250 4,300 7,010 2,400 7,895 3,460 740 23, 100 1. 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.).)
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, 155 700 9,900 3,090 1,280 15 15,810 310 250 4,300 7,010 2,400 7,895 3,460 740 23, 100 1. 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.).)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
how to prepare an income statement
![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
$4,155
700
9,900
3,090
1,280
15
15,810
310
250
4,300
7,010
2,400
7,895
3,460
740
23,100
1. 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.).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffa413bcf-f4d4-4563-8c5c-bfbbe2a7d62c%2Fa473d103-2452-417f-a8cd-c11449faa60e%2F195hfzw_processed.png&w=3840&q=75)
Transcribed Image Text: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
$4,155
700
9,900
3,090
1,280
15
15,810
310
250
4,300
7,010
2,400
7,895
3,460
740
23,100
1. 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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