FedEx Corporation had the following revenue and expense account balances (in millions) at its fiscal year end of May 31, 2005:
|
Depreciation |
$1,462 |
Purchased Transportation |
$ 2,935 |
|
Fuel |
2,317 |
Rentals and Landing Fees |
2,314 |
|
Maintenance and Repairs |
1,680 |
Revenues |
29,363 |
|
Other Expenses |
4,379 |
Salaries and Employee Benefits |
11,963 |
|
Provision for Income Taxes |
864 |
|
|
a. Prepare an income statement.
b. Compare your income statement with the related income statement that is available at the FedEx Corporation What similarities and differences do you see?