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Homework: Chapter 1 Homework Save Score: 0 of 6 pts 3 of 4 (2 complete) HW Score: 40%, 8 of 20 pl E1-31A (similar to) Question Help c During 2018, Victor Company earned revenues of $152 million. (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare the income statement (with a proper heading) for 2018. (Enter all ampiste in millione Il a havis in the income catamarat Inawa the bow Amanal O. i More Info Victor Company Statement of Retained Earnings (millions) Revenue Cash 145 Victor incurred, during that same year, salary expense of $31 million, rent expense of $15 million, and utilities expense of $20 million. Victor declared and paid dividends of $10 million during the year. At December 31, 2018, Victor had cash of $145 million, accounts receivable of $75 million, property and equipment of $41 million, and other long-term assets of $21 million. At December 31, 2018, the company owed accounts payable f $62 million and had a long-term note payable of $34 million. Victor began 2018 with a balance in retained earnings of $70 million. At December 31, 2018, Victor had total stockholders' equity of $186 million, which consisted of common stock and retained earnings. Victor has a year-end of December 31. Expenses: Print Done Net income (loss) Choose from any list or enter any number in the input fields and then click Check Answer Accounts payable Accounts receivable Cash Common stock Dividends Long-term note payable Other long-term assets Property and equipment Rent expense Retained earnings, December 31, 2017 Retained earnings, December 31, 2018 Revenue Salary expense Total expenses Utilities expense

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