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[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

[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 Balance Account $16,894 Receivables Balance $2,299 12,606 Accounts payable 1,557 Other current assets Cash 1,029 1,184 Prepaid expenses 258 Spare parts, supplies, and fuel 694 Accrued expenses payable 2,370 Other noncurrent liabilities 3,740 Long-term notes payable 1,790 Other current liabilities. 2,239 Other noncurrent assets 3,002 Additional Paid-in Capital 1,057 Common stock ($0.10 par value) 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 $8,890 in cash and owed $34,304 on account. b. Purchased new equipment costing $3,734; signed a long-term note. c. Paid $10,864 cash to rent equipment and aircraft, with $5,386 for rent this year and the rest for rent next year. d. Spent $1,164 cash to repair facilities and equipment during the year. e. Collected $33,285 from customers on account. f. Repaid $300 on a long-term note (ignore interest). g. Issued 170 million additional shares of $0.10 par value stock for $31 (that's $31 million). h. Paid employees $13,026 for work during the year. 1. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $11,064 cash. J. Used $7,200 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $1,084 on accounts payable. 1. Ordered $118 in spare parts and supplies. Cash Receivables Beg. bal. Beg. bal. End. bal. End. bal. Spare Parts, Supplies, and Fuel Prepaid Expenses Beg. bal. Beg. bal. End. bal. 0 End. bal. Other Current Assets Property and Equipment (net) Beg. bal. Beg. bal. End. bal. 0 Other Noncurrent Assets End. bal. Accounts Payable + Accrued Expenses Payable Beg. bal. Beg. bal. Other Current Liabilities End. bal. 0 End. bal. 0 Long-Term Notes Payable Other Noncurrent Liabilities Beg. bal. Beg. bal. End. bal. Common Stock Beg. bal. End. bal. Retained Earnings Beg. bal. End. bal. Rent Expense 0 End. bal. 0 Additional Paid-in Capital Beg. bal. 0 End. bal. 0 Delivery Service Revenue Beg. bal. 0 End. bal. Repair Expense Beg, bal. 0 COM. Da Wage Expense Beg. bal. End. bal. Beg. bal. Spare Parts, Supplies, and Fuel Expense End. bal. 0 End. bal. 0

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