Visa Inc. is preparing its financial statements for 2023. The following transactions and financial data are available:

Transactions (in $ millions)	Amount
Cash Sales	1,600
Credit Sales	900

Requirements:

• Prepare Visa Inc.'s income statement for 2023, focusing on revenue and expenses.
• Calculate and interpret the return on equity (ROE) and return on assets (ROA).
• Discuss the accounting treatment of revenue recognition for service fees.
• Analyze the impact of changes in fair value of financial instruments.
• Prepare a reconciliation of beginning and ending balances of retained earnings for Visa