Chapter 4, Problem 4.7EX

Income statement

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

Depreciation Expense	$2,587
Fuel Expense	4,557
Maintenance and Repairs Expense	1,862
Other Expense (Income) Net	6,084
Provision for Income Taxes	1,192
Purchased Transportation	$ 8,011
Rentals and Landing Fees	2,622
Revenues	45,567
Salaries and Employee Benefits	16,555

A. Prepare an income statement.

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