Following are selected account balances $($in millions of dollars$)$ from a recent UPS annual report, followed by several typical 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. 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.

Note: Enter your answers in millions, not in dollars. Prepare an unadjusted income statement for the current year ended December $31.$

Note: Enter your answers in millions, not in dollars.

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 a

accounts, these will not balance in a trial balance.$)$ Assume the following transactions $($in millions, except for par value$)$ occur

next fiscal year beginning January $1($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 $$3,754$; signed a long$-$term note.

c$.$ Paid $$11,064$ cash to rent equipment and aircraft, with $$5,536$ for rent this year and the rest for rent next year $($a prepaid e

d$.$ 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$).$

g$.$ Issued $200$ million additional shares of $$0\mathrm{.}01$ par value stock for $$32($that$\text{'}$s $$32$ million$).$

h$.$ Paid employees $$13,276$ for work during the year.

i$.$ Purchased spare parts, supplies, and fuel for the aircraft and equipment for $$11,364$ cash.

j$.$ Used $$7,250$ in spare parts, supplies, and fuel for the aircraft and equipment during the year.

k$.$ Paid $$1,104$ on accounts payable.

I. Ordered $$120$ in spare parts and supplies.

Required:

Prepare journal entries for each transaction.

Enter the ending balances from December $31$ as the respective beginning balances for January $1$ of the current year. Recc

T$-$accounts the effects of each transaction. Label each using the letter of the transaction.

Prepare an unadjusted income statement for the current year ended December $31.$

Compute the company's net profit margin ratio for the current year ended December $31.$