Following are account balances (in millions of dollars) from a recent StateEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year); Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long term notes payable Other noncurrent assets Common stock (50.19 par value) Balance $ 17,994 12,806 1,577 268 2,390 1,810 3,032 2 Account Receivables Other current assets Cash Spare parts, supplies, and fuel Other noncurrent liabilities Other current liabilities Additional Paid-in Capital Balance $ 2,349 1,039 1,284 715 3,770 2,259 1,887 These accounts are not necessarily in good order and have normal debit or credit balances. Assume the following transactions (in millions, except for par value) occurred the next fiscal year beginning June 1(the current year) a. Provided delivery service to customers, who paid $9.390 in cash and owed $35,104 on account b. Purchased new equipment costing $3754, signed a long-term note Pald S11.064 cash to rent equipment and aircraft, with $5.536 for rent this year and the rest for rent next year a. Spent $1,184 cash to repair facilities and equipment during the year e. Collected $33,885 from customers on account f Repaid $310 on a long-term note (ignore Interest) 9. Issued 180 million additional shares of S010 par value stock for $32 (that's $32 milion). h Paid employees $13,276 for work during the year Purchased spare parts, supplies, and fuel for the aircraft and equipment for $11.364 cash Used $7.250 in spare parts, supplies, and fuel fonthe aircraft and equipment during the year k Paid $ 1,104 on accounts payable Ordered $120 in spare parts and supplies 2. Prepare Taccounts for the current year from the preceding list, enter the ending balances from May 31 as the respective beginning balances for June 1 of the current year. For each transaction record the current year's transaction effects in the T-accounts. Label each using the letter of the transaction (Enter your answers in millions, not in dollars.) Cash Receivables Beg, bal Beg, bal End, bal End bal Spare Parts, Supplies, and Fuel Prepaid Expenses Bog, bal Bog bal End bal End bal Other Current Assets Property and Equipment (net) Beg bal. Beg. bal. End, bal End, bal Other Noncurrent Assets Accounts Payable Beg. bal Beg, bal End, bal End, bal Accrued Expenses Payable Other Current Liabilities Beg bal Beg bal End bal End, bal Long-Term Notes Payable Other Noncurrent Liabilities Beg bal Beg bal Long-Term Notes Payable Other Noncurrent Liabilities Beg bal Beg. bal. End, bal End, bal Common Stock Additional Paid-in Capital Beg. bal. Beg, bal End, bal End, bal Retained Earnings Delivery Service Revenue Beg, bal Beg bal End bal End, bal Rent Expense Beg bal Repair Expense Beg, bal