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Following are selected account balances (in milions 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 necessanly 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 milions, except for par value) occurred the next fiscal year beginning January 1 the current year) a. Provided delivery service to customers, who paid $1.890 in cash and owed $25.104 on account. b. Purchased new equipment costing $3,454, signed a long term note. c. Paid $8,064 cash to rent equipment and aircratt, with $3,286 foc rent this year and the rest for rent next year (a prepaid expense). d. Spent $884 cash to repair facilities and equipment during the year e. Collected $24.885 from customers on account. 1. Repaid 5160 on a long term note (ignore interest. 9. Issued 200 million additional shares of $0.01 par value stock for $17 (that's $17 milion) h. Paid employees 59,526 for work during the yeat 1. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $6.864 cash 1. Used $6.500 in spare parts, supplies, and fuet for the aircraft and equipment during the year k. Paid 5804 on accounts payable 1 Ordered 590 in spare parts and supplies Required: 1. Prepare joumal entries for each transaction 2 Enter the ending balances from December 31 as the respective beginning balances for January 1 of the current yeat. Record in the Taccounts the effects of each transaction, Label each using the letter of the transaction. 3. Prepare an unadjusted income statement for the current year ended December 31. 4. Compute the companys net profit margin ratio foc the currect susded becember 3i? Required: 1. Prepare journal entries for each transaction 2. Enter the ending balances from December 31 as the respective beginning balances for January 1 of the current year Record in the T-accounts the effects of each transaction. Label each using the letter of the transaction. 3. Prepare an unadjusted income statement for the current year ended December 31 . 4. Compute the company's net profit margin ratio for the current year ended December 31 : Complete this question by entering your answers in the tabs below. Prepare joumal entries for each transaction. Note: If no entry is required for a transaction/event, select "No fournal entry required" in the first account field. Enter amounts in millions, not dollars. Journal entry worksheet 234567812 Provided delivery service to customers, who paid $1,800 in cash and owed $25,104 on account. Note: Enter sebits beloce oredits. Complete this question by entering your answers in the tabs below. Prepare fournal entries for each transaction. Hote: if no entry is required for a transacion/event, select "Wo joumal entry required" In the first account field. Entier amounts in mitlions, not dollars. Journal entry worksheet Complete this question by entering your answers in the tabs below. Prepare journal entries for each transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter amounts in millions, not dollars. Journal entry worksheet 56778,12 Paid $8,064 cash to rent equipment and aircraft, with $3,286 for rent this year and the rest for rent next year (a prepaid expense). fioten Griter debits before oredits. 4 Spent $884 cash to repair facilities and equipment during the year. 5 Collected $24,885 from customers on account. 6 Repaid $160 on a long-term note (ignore interest). 7 Issued 200 million additional shares of $0.01 par value stock for $17 (that's $17 million). 8 Paid employees $9,526 for work during the year. 9 Purchased spare parts, supplies, and fuel for the aircraft and equipment for $6,864 cash. Note : = journal entry has been entered View transaction list 7 Issued 200 million additional shares of $0.01 par value stock for $17 (that's $17 million) this year 8 Paid employees $9,526 for work during the year. 9 Purchased spare parts, supplies, and fuel for the aircraft and equipment for $6,864 cash. 10 Used $6,500 in spare parts, supplies, and fuel for the aircraft and equipment during the year. 11 Paid $804 on accounts payable. 12 Ordered $90 in spare parts and supplies. Note : = journal entry has been entered Record entry Clearentry View general journal Enter the ending balancies from December J1 as the fespective beginhing balances for lanuary 1 of the current yeac. Wecord in the fiaccounts the effects of each transiction. Label each using the letter of the transaction. Bote: Enter your answers in millipne, not in dollar. Prepare an unadjusted income statement for the current year ended December 31 . Note: Enter your answers in millions, not in dollars. v. ruicnaseu new tquipiritil cosuny $5,434, signed d Iony-tem nute. c. Paid $8,064 cash to rent equipment and aircraft, with $3,286 for rent this year and the rest for rent next year (a prepaid exp d. Spent $884 cash to repair facilities and equipment during the year. e. Collected $24,885 from customers on account. f. Repaid $160 on a long-term note (ignore interest). 9. Issued 200 million additional shares of $0.01 par value stock for $17 (that's $17 million) h. Paid employees $9.526 for work during the year. 1. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $6,864 cash. J. Used $6,500 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $804 on accounts payable 1. Ordered $90 in spare parts and supplies. Required: 1. Prepare joumal entries for each transaction 2. Enter the ending balances from December 31 as the respective beginning balances for January 1 of the current year. Record T-accounts the effects of each transaction. Label each using the letter of the transaction. 3. Prepare an unadjusted income statement for the current year ended December 31 . 4. Compute the company's net profit margin ratio for the current year ended December 31. 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)