P3-6 (Algo) Analyzing the Effects of Transactions Using T-Accounts, Preparing an Income Statement, and Evaluating the Net Profit Margin Ratio LO3-4, 3-5, 3-6 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 $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 aircraft, with $3,286 for 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. f. Repaid $160 on a long-term note (ignore interest). g. 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. i. 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. I. Ordered $90 in spare parts and supplies. Complete this question by entering your answers in the tabs below. Prepare an unadjusted income statement for the current year ended December 31. Note: Enter your answers in millions, not in dollars