Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 18,143 15,316 1,962 Balance $ 5,231 740 2,588 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) Account Receivables Other current assets Cash Spare parts, supplies, and fuel Other noncurrent liabilities Other current liabilities Additional Paid-in Capital 710 2,154 1,927 3,947 6,006 1,546 2,862 45 These accounts are not necessarily in good order and have normal debit or credit balances. Assume the following transactions (in millions) occurred the next fiscal year beginning June 1 (the current year): a. Provided delivery service to customers, receiving $28,204 in accounts receivable and $22,800 in cash. b. Purchased new equipment costing $3,694; signed a long-term note. c. Paid $16,464 cash to rent equipment and aircraft, with $12,086 for rental this year and the rest for rental next year. d. Spent $4,124 cash to maintain and repair facilities and equipment during the year. e. Collected $32,085 from customers on account. f. Repaid $480 on a long-term note (ignore interest). g. Issued 150 shares of additional stock for $29. h. Paid employees $18,526 during the year. i. Purchased for cash and used $12,464 in fuel for the aircraft and equipment during the year. j. Paid $1,044 on accounts payable. k. Ordered $114 in spare parts and supplies. transaction, record the current year's transaction effects in the T-accounts. Label each using the letter of the transaction. Compute ending balances. (Enter your answers in millions, not in dollars.) Cash Receivables Beg. bal. Beg. bal. End. bal. 0 End. bal. 0 Spare Parts, Supplies, and Fuel Prepaid Expenses Beg. bal. Beg. bal. End. bal. End. bal. Other Current Assets Property and Equipment (net) Beg. bal. Beg. bal. End. bal. 0 End. bal. 0 Other Noncurrent Assets Accounts Payable Beg. bal. Beg. bal. End. bal. 0 End. bal. Accrued Expenses Payable Other Current Liabilities Beg. bal. Beg. bal. End. bal. End. bal. Long-Term Notes Payable Other Noncurrent Liabilities Beg. bal. Beg. bal. End. bal. O End, bal. 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. End. bal. End. bal. Rental Expense Repair Expense Beg. bal. Beg. bal. End. bal. End. bal. Wage Expense Fuel Expense Beg. bal. Beg. bal. End. bal. End. bal