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

a. Prepare an income statement.

b. Compare your income statement with the income statement that is available at FedEx’s website (http://investors.fedex.com). Under Annual Report, select Download PDF. What similarities
and differences do you see?

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$ 9,966 Purchased Transportation Rentals and Landing Fees Depreciation Expense Fuel Expense Maintenance and Repairs Expense Other Expense (Income) Net $2,631 2,399 2,854 2,108 9,086 50,365 18,581 Revenues Salaries and Employee Benefits Provision for Income Taxes 920