Income statement
FedEx Corporation had the following revenue and expense account balances (in millions) for a recent year ending May 31, 2011:
| Depreciation | $1,973 | Purchased Transportation | $ 5,674 |
| Fuel | 4,151 | Rentals and Landing Fees | 2,462 |
| Maintenance and Repairs | 1,979 | Revenues | 39,304 |
| Other Expense (Income) Net | 5,524 | Salaries and Employee Benefits | 15,276 |
| Provision for Income Taxes | 813 |
a. Prepare an income statement.
b. Compare your income statement with the related income statement that is available at the FedEx Corporation, What similarities and differences do you see?
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