Assume the following information was reported in the December 31, 2014, financial statements of WestJet (listed alphabetically, amounts in millions).

1. Prepare an income statement for the year ended December 31, 2014.
2. Prepare a statement of retained earnings for the year ended December 31, 2014.
Assume the balance in retained earnings was $4,157,000,000 at January 1, 2014.
3. Prepare a balance sheet at December 31, 2014.
4. Using the balance sheet, indicate whether the total assets of WestJet at the end of the year were financed primarily by liabilities or shareholders' equity.

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$ 2,581 3,107 2,145 336 10,874 Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash Contributed Capital Dividends Income Tax Expense Interest Expense Landing Fees Expense Notes Payable Other Assets Other Liabilities Other Operating Expenses Other Revenue Property and Equipment Repairs and Maintenance Expense Retained Earnings (as of December 31, 2014) Salaries Expense Supplies on Hand Ticket Revenues $1,731 845 2,536 2,213 2,153 14 413 69 616 4,788 3,213 259 9,861 560 4,993