FedEx Corporation provides a broad portfolio of transportation, e-commerce, and business services. FedEx reported the following information in its 2009 annual report.

Requirements
1. Using the information provided from the balance sheet and statement of cash flows for FedEx, reconstruct the Property and Equipment and Accumulated Depreciation accounts. You will have to solve for the original cost of the plant and equipment sold.
2. Prepare the journal entries to record capital expenditures, depreciation expense, asset impairments, and sales of property, plant, andequipment.

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FedEx Corporation Partial Consolidated Balance Sheets (In millions) May 31, 2009 2008 Property and equipments, at cost Aircraft and related equipment Package handling and ground support equipment Computer and electronic equipment Vehicles Facilities and other 10,18 $10,165 4,960 ,817 4,280 ,040 3,078 2,754 6,824 6,529 29,260 29,305 15,84315,827 13,417 13,478 Less accumulated depreciation and amortization Net property and equipment FedEx Corporation Partial Statement of Cash Flows (In millions) May 31, 2009 2008 Investing activities Capital expenditures Business acquisitions, net of cash acquired Proceeds from asset dispositions and other Cash used in investing activities (2,459) (2.947) 54 (2,383) (2,897)