Required Information [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 Account Balance $15,494 Receivables $1,949 11,206 1,417 Other current assets Cash 959 1,044 188 Spare parts, supplies, and fuel 557 2,230 other noncurrent liabilities 3,530 1,650 2,792 other current liabilities 2,099 Additional Paid-in Capital 847 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 $5,390 in cash and owed $28,704 on account. b. Purchased new equipment costing $3,594; signed a long-term note. c. Paid $9,464 cash to rent equipment and aircraft, with $4,336 for rent this year and the rest for rent next year. d. Spent $1,024 cash to repair facilities and equipment during the year. e. Collected $29,085 from customers on account. f. Repaid $230 on a long-term note (Ignore Interest). g. Issued 100 million additional shares of $0.10 par value stock for $24 (that's $24 million). h. Paid employees $11,276 for work during the year. I. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $8,964 cash. J. Used $6,850 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $944 on accounts payable. I. Ordered $104 In spare parts and supplies.