Following are selected account balances (in millions 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 necessarily 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 millions, except for par value) occurred the next fiscal year beginning January 1 (the current year): a. Provided delivery service to customers, who paid $6,890 in cash and owed $31,104 on account. b. Purchased new equipment costing $3,654; signed a long-term note. c. Paid $10,064 cash to rent equipment and aircraft, with $4,786 for rent this year and the rest for rent next year (a prepaid expense). d. Spent $1,084 cash to repair facilities and equipment during the year. e. Collected $30,885 from customers on account. f. Repaid $260 on a long-term note (ignore interest). g. Issued 200 million additional shares of $0.01 par value stock for $27 (that's $27 million). h. Paid employees $12,026 for work during the year. i. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $9,864 cash. j. Used $7,000 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $1,004 on accounts payable. I. Ordered $110 in spare parts and supplies. 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