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Income Statement FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31: Depreciation Expense $1,195 Fuel Expense 4,171 Maintenance and Repairs Expense 2,032 Other Expense (Income) Net 6,453 Provision for Income Taxes 1,040 Purchased Transportation 1,554 Rentals and Landing Fees 2,259 Revenues 31,907 Salaries and Employee Benefits 11,388 a. Prepare an income statement. FedEx Corporation Income Statement For the Year Ended May 31 (in millions)     $ Expenses:       $                                             Total expenses         $ b. Compare your income statement with the income statement that is available at FedEx’s Web site (http://investors.fedex.com). Under Annual Report, select Download PDF. What similarities and differences do you see? The income statements are  . The actual statement, which is for the year ended May 31,

Income Statement FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31: Depreciation Expense $1,195 Fuel Expense 4,171 Maintenance and Repairs Expense 2,032 Other Expense (Income) Net 6,453 Provision for Income Taxes 1,040 Purchased Transportation 1,554 Rentals and Landing Fees 2,259 Revenues 31,907 Salaries and Employee Benefits 11,388 a. Prepare an income statement. FedEx Corporation Income Statement For the Year Ended May 31 (in millions)     $ Expenses:       $                                             Total expenses         $ b. Compare your income statement with the income statement that is available at FedEx’s Web site (http://investors.fedex.com). Under Annual Report, select Download PDF. What similarities and differences do you see? The income statements are  . The actual statement, which is for the year ended May 31,

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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  1. Income Statement

    FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31:

    Depreciation Expense $1,195
    Fuel Expense 4,171
    Maintenance and Repairs Expense 2,032
    Other Expense (Income) Net 6,453
    Provision for Income Taxes 1,040
    Purchased Transportation 1,554
    Rentals and Landing Fees 2,259
    Revenues 31,907
    Salaries and Employee Benefits 11,388

    a. Prepare an income statement.

    FedEx Corporation
    Income Statement
    For the Year Ended May 31 (in millions)
        $
    Expenses:    
      $  
         
         
         
         
         
         
         
    Total expenses    
        $

    b. Compare your income statement with the income statement that is available at FedEx’s Web site (http://investors.fedex.com). Under Annual Report, select Download PDF. What similarities and differences do you see?

    The income statements are  . The actual statement, which is for the year ended May 31,  .

 
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