please show step by step how to show the work so I can follow along with future problems! (:

During 2021 , Nance Company earned revenues of $140 million. (i) (Click the icon to view additional information.) Read the requirements. Requirement 1. Prepare the income statement (with a proper heading) for 2021. (Enter all amounts in millions. If an input field is not used in the income statement, leave the field empty; do not select a label or enter a zero.) Requirement 1. Prepare the income statement (with a proper heading) for 2021. (Enter all amounts in millions. If an input field is not used in the income statement, leave the field empty; do not select a label or enter a zero.) Requirements Prepare the following financial statements (with proper headings) for 2021: 1. Income statement, 2. Statement of retained earnings, 3. Balance sheet. More info Nance incurred, during that same year, salary expense of $31 million, rent expense of $17 million, and utilities expense of $21 million. Nance declared and paid dividends of $13 million during the year. At December 31,2021 , Nance had cash of $165 million, accounts receivable of $65 million, property and equipment of $37 million, and other long-term assets of $17 million. At December 31,2021 , the company owed accounts payable of $59 million and had a long-term note payable of $32 million. Nance began 2021 with a balance in retained earnings of $69 million. At December 31,2021 , Nance had total stockholders' equity of $193 million, which consisted of common stock and retained earnings. Nance has a year-end of December 31