please help. this is all one practice question. will give good high rating & feedback. I just need help understanding this question so i can be better prepared for the actual question that counts.

Amounts of the assets and liabilities of Peppy Associates Inc., as of December 31, 2020, are given as follows. Also included are revenue and expense figures for the year ended on that date (amounts in millions). (Click the icon to view the amounts.) X Requirements 1. Prepare the income statement of Peppy Associates Inc. for the year ended December 31, 2020. Amounts 2. What amount of dividends did Peppy declare during the year ended December 31, 2020? Hint: Prepare a statement of retained earnings. . . . . . Property and equipment, .net. .. . $ 3 Total revenue ........ . . . .. . . . $ 31 Requirement 1. Prepare the income statement of Peppy Associates Inc. for the year ended December 31, 2020. Investment. . . .. . . . . . . . . . . . .. 69 Receivables ......... . . . . . . . . 238 Prepare the income statement for Peppy Associates Inc. Long-term liabilities. .. .. . . . . . . 71 Current liabilities. ...... . . . . . . . 280 Other expenses. . . . . . . . . . 12 Common shares. . . . . . . . . 10 Cash . . ... 26 Interest expense. . . . . . . . . . . . . . 2 Salary and other employee Retained earnings, beginning . .. 16 expense . . 8 Revenues Retained earnings, ending . .... 14 Other assets . ... . . . . . . . . . . . . . 39 Expenses: Print Done Total expenses Net income before taxRequirement 2. What amount of dividends did Peppy declare during the year ended December 31, 2020? Hint: Prepare a statement of retained earnings. Prepare the statement of retained earnings. (Use a minus sign or parentheses for numbers to be subtracted.) Investment .................. 69 Receivables ................. 238 Other expenses .............. 12 Common shares .............. 10 Salary and other employee Retained earnings, beginning . . . 16 expense