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

a. Prepare an income statement.
b. Compare your income statement with the income statement that is available at the FedEx Corporation Web site, (investors.fedex.com). Click on Annual Report and Download Annual Report. What similarities and differences do you see?

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2,113 Purchased Transportation 4,956 Rentals and Landing Fees 1,980 Revenues 5,569 Salaries and Employee Benefits 1,109 6,335 2,487 42,680 16,099 Depreciation Expense Maintenance and Repairs Expense Other Expense (Income) Net Provision for Income Taxes