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

Depreciation Expense	$2,256
Fuel Expense	5,182
Maintenance and Repairs Expense	1,860
Other Expense (Income) Net	5,809
Provision for Income Taxes	1,145
Purchased Transportation	6,265
Rentals and Landing Fees	2,550
Revenues	42,760
Salaries and Employee Benefits	16,216

Prepare an income statement. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the Chart of Accounts for exact wording of account titles. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.

Feirman Corporation

Income Statement

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PART 2

After the accounts have been adjusted at October 31, the end of the fiscal year, the following balances were taken from the ledger of Smart Delivery Services Co.:

Retained Earnings	$3,484,000
Dividends	36,000
Fees Earned	1,254,000
Wages Expense	748,200
Rent Expense	64,400
Supplies Expense	13,250
Miscellaneous Expense	8,950

Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1		Closing Entries
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