Required information Other Noncurrent ASSOS Accounts Payable Beg. bal. Beg. bal. End. bal. 0 End. bal. 0 Accrued Expenses Payable 0 Other Current Liabilities Beg. bal. Beg. bal. End. bal. 0 End. bal. 0 Long-Term Notes Payable Other Noncurrent Liabilities Beg. bal. Beg. bal. End. bal. 0 End. bal. 0 Common Stock Additional Paid-In Capital Beg. bal. Beg. bal. End, bal 0 End. bal. 0 Retained Earnings Delivery Service Revenue Beg. bal. Beg. bal. P3-6 Part 2 2 of 4 2. Prepare T-accounts for the current year from the preceding list; enter the ending balances from May 31 as the respective beginning balances for June 1 of the current year. For each transaction, record the current year's transaction effects in the T-accounts. Label each using the letter of the transaction. (Enter your answers in millions, not in dollars.) 5 01:57:07 Cash Beg. bal. Receivables Beg. bal. Book End. bal. 0 Print End. bal. rences Spare Parts, Supplies, and Fuel Prepaid Expenses Beg. bal. Beg. bal. End, bal End, bal. 0 Other Current Assets Property and Equipment (net) Beg. bal. Beg, bal MacBook Pro 3. Prepare an unadjusted income statement for the current year ended May 31. 56:48 State Ex Income Statement (unadjusted) ! (in millions) ok nt nces 0 Common stock ($0.10 par value) 1,087 of 4 These accounts are not necessarily in good order and have normal debitor credit balances. Assume the following transactions in millions, except for par value) occurred the next fiscal year beginning June 1(the current year): 56:40 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. 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 180 million additional shares of $0.10 par value stock for $32 (that'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. ces P3-6 Part 4 4. Compute the company's place (i.e., 32.1)). margin ratio for the current year ended May 31. (Round your percentage answer to 1 decimal Net profit margin ratio % CI (The following information applies to the questions displayed below.) Following are account balances (in millions of dollars) from a recent StateEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par value) Balance $ 17,094 12,806 1,577 268 2,390 1,810 3,032 2 Account Receivables Other current assets Cash Spare parts, supplies, and fuel Other noncurrent liabilities Other current liabilities Additional Paid-in Capital Balance $ 2,349 1,039 1,204 715 3,770 2,259 1,087 These accounts are not necessarily in good order and have normal debit or credit balances. Assume the following transactions (in millions, except for par value) occurred the next fiscal year beginning June 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. 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 180 million additional shares of $0.10 par value stock for $32 (that'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. 1. Ordered $120 in spare parts and supplies. P3-6 Part 2 Dronara Torrinte for the current waar from the nraradina liet. antar tha andinn halencoe from May 21 ne the raenortivo horinninn