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National Airways, Inc. - Financial Statements Vocabulary Review

Statement of Retained Earnings

  • Amounts in millions
  • Retained Earnings, January 1: 5{,}370
  • Add: Net Income: 430
  • Less: Dividends: 20
  • Retained Earnings, December 31: 5{,}780

Balance Sheet

  • Amounts in millions
  • Assets: Cash 2{,}970; Accounts Receivable 580; Supplies 680; Equipment 14{,}370; Total Assets 18{,}600
  • Liabilities: Accounts Payable 4{,}650; Notes Payable 6{,}950; Total Liabilities 11{,}600
  • Stockholders’ Equity: Common Stock 1{,}220; Retained Earnings 5{,}780; Total Stockholders’ Equity 7{,}000
  • Total Liabilities and Stockholders’ Equity: 18{,}600