FedEx Corporation had the following revenue and expense account balances (in millions) for a recent year ending May 31:
Depreciation Expense $2,611
Purchased Transportation $ 8,483
Fuel Expense 3,720
Rentals and Landing Fees 2,682
Maintenance and Repairs Expense 2,099
Revenues47,453
Other Expense (Revenue) Net 9,121
Salaries and Employee Benefits 17,110
Provision for Income Taxes 577
Prepare an income statement.
Answers:
Revenues$47,453
Expenses:
Salaries and employee benefits$17,110
Purchased transportation8,483
Fuel expense3,720
Rentals and landing fees2,682
Depreciation expense2,611
Maintenance and repairs expense2,099
Provision for income taxes577
Other expense (revenue) net9,121
Total expenses46,403
Net income$ 1,050