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 Balance $14,694 Account Balance Receivables $1,749 10,406 1,337 Other current assets Cash 919 9641 Prepaid expenses Accrued expenses payable 148 2,150 Spare parts, supplies, and fuel Other noncurrent liabilities 478 3,410 Long-term notes payable Other noncurrent assets 1,570 Other current liabilities 2,019 2,672 Additional Paid-in Capital 727 Common stock ($0.10 pat, value) 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 $3,390 in cash and owed $26,304 on account. b. Purchased new equipment costing $3,514; signed a long-term note. c. Paid $8,664 cash to rent equipment and aircraft, with $3,736 for rent this year and the rest for rent next year.. d. Spent $944 cash to repair facilities and equipment during the year. e. Collected $26,685 from customers on account. f. Repaid $190 on a long-term note (ignore interest). g. Issued 60 million additional shares of $0.10 par value stock for $20 (that's $20 million). h. Paid employees $10,276 for work during the year. i. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $7,764 cash. j. Used $6,650 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $864 on accounts payable. 1. Ordered $96 in spare parts and supplies. -Prepare an unadjusted income statement for the current year ended May 31. StateEx Income Statement (unadjusted) For the Year Ended May 31 (Current Year) (in millions)