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M$1-16($Algo$)$ Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet $[$LO $12,$ LO $1-3]$

$[$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$).$

$\backslash$table$[[$Accounts Payable,$],[$Accounts Receivable,$$4,520$