FedEx Corporation reported its balance sheet at May 31, 2016. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. (Amounts represent millions of dollars.)

Required:

1. Based on the trial balance, provide the name of the account that would accompany (a) Prepaid Rent and (b) Depreciation Expense in deferral adjustments at May 31.

2. Based on the trial balance, provide the name of the account that would accompany (a) Interest Revenue and (b) Salaries and Wages Expense in accrual adjustments at May 31.

3. Prepare an income statement, statement of retained earnings, and classified balance sheet for the year ended May 31, 2016.

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Debit Credit $ 2,900 Accounts Payable $ 7,240 Accounts Receivable Accumulated Depreciation 22,700 Cash 3,500 Common Stock 2,900 Depreciation Expense 2,600 Dividends 300 Equipment 47,000 Goodwill 9,800 Income Tax Expense Income Tax Payable 900 770 Interest Expense 360 Interest Receivable 10 Interest Revenue 20 Notes Payable (long-term) 24,270 Notes Payable (short-term) Office Expenses Prepaid Rent Rent Expense Repairs and Maintenance Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable 2,330 11,240 700 2,800 2,100 9,360 18,600 2,000 Service Revenue 50,400 Supplies Transportation Expense 500 10,000 $117,650 $117,650