Income Statement

FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31:

Depreciation Expense	$1,005
Fuel Expense	3,507
Maintenance and Repairs Expense	1,709
Other Expense (Income) Net	5,427
Provision for Income Taxes	874
Purchased Transportation	1,307
Rentals and Landing Fees	1,899
Revenues	26,834
Salaries and Employee Benefits	9,578

Income Statement FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31: Depreciation Expense $1,005 Fuel Expense 3,507 Maintenance and Repairs Expense 1,709 Other Expense (Income) Net 5,427 Provision for Income Taxes 874 Purchased Transportation 1,307 Rentals and Landing Fees 1,899 Revenues 26,834 Salaries and Employee Benefits 9,578 a. Prepare an income statement. FedEx Corporation Income Statement For the Year Ended May 31 (in millions) Revenues Expenses: Salaries and employee benefits Purchased transportation Accumulated depreciation Net income Revenues For the Year Ended May 31 (in millions) Revenues Expenses: Salaries and employee benefits Purchased transportation Accumulated depreciation Net income Revenues Total expenses b. Compare your income statement with the income statement that is available at FedEx's Web site (http://investors.fedex.com). Under Annual Report, select Download PDF. What similarities and differences do you see? The income statements are The actual statement, which is for the year ended May 31