Required information 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 [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) Balance Account Balance $17,894 Receivables $2,549 Retained earnings 13,606 Accounts payable Other current assets Cash 1,079 Prepaid expenses Accrued expenses payable Long-term notes payable other noncurrent assets 3,152 Common stock ($0.10 par value) 1,657 308 Spare parts, supplies, and fuel 2,470 Other noncurrent liabilities 1,890 Other current liabilities Additional Paid-in Capital 1,284 794 3,890 2,339 1,207 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 naid $11 390 in cash and owed $38 30400 account