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Can someone help me solve this please ? Thanks! Prepare an unadjusted income statement for the current year ended December 31 . Note: Enter your
Can someone help me solve this please ? Thanks!
Prepare an unadjusted income statement for the current year ended December 31 . Note: Enter your answers in millions, not in dollars. Complete this question by entering your answers in the tabs below. Compute the company's net profit margin ratio for the current year ended December 31 . Note: Round your percentage answer to 1 decimal place (i.e., 32.1). Following are selected account balances (in millions of dollars) from a recent UPS annual report, followed by several typical transactions. Assume that the following are account balances on December 31 (end of the prior fiscal year): These accounts are not necessarily in good order and have normal debit or credit balances. (Note: Because these are not all of UPS's accounts, these will not balance in a trial balance.) Assume the following transactions (in millions, except for par value) occurred the next fiscal year beginning January 1 (the current year): a. Provided delivery service to customers, who paid $1,390 in cash and owed $24,704 on account. b. Purchased new equipment costing $3,434; signed a long-term note. c. Paid $7,864 cash to rent equipment and aircraft, with $3,136 for rent this year and the rest for rent next year (a prepaid expense). d. Spent $864 cash to repair facilities and equipment during the year. e. Collected $24,285 from customers on account. f. Repaid $150 on a long-term note (ignore interest). g. Issued 200 million additional shares of $0.01 par value stock for $16 (that's $16 million). h. Paid employees $9,276 for work during the year. i. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $6,564 cash. j. Used $6,450 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $784 on accounts payable. I. Ordered $88 in spare parts and supplies. View transaction list View journal entry worksheetStep by Step Solution
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