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[The following information applies to the questions displayed below.) The following information was reported in the December
3. Prepare a balance sheet at December 31, 2017. (Enter your answers in millions (.e., 10,000,000 should be entered as 10.).)
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Answer #1

National Airways Inc

Balance Sheet

December 31

(Amount in millions)

Assets
Cash 2970
Account receivable 580
Supplies 680
Equipment 14370
Total assets 18600
Liabilities and stockholder's equity
Liabilities
Account payable 4650
Notes payable 6950
Total liabilities 11600
Stockholder's equity
Common Stock 1220
Retained earnings 5780
Total Stockholder's equity 7000
Total liabilities and stockholder's equity 18600
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