FedEx Corporation had the following revenue and expense account balances (in millions) for a recent year ending May 31:

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