Review the following excerpt from the 2012 consolidated statement of income for Southwest Airlines Co. answer the question that follow.

1. Although the format for the heading of an income statement can vary from company to company, the heading should contain the answers to who, what, and when. List the answers to each question for the statement presented above.
2. What three types of revenue are reflected on this statement?
3. The net income of 5421,000,001 reflected on Southwest Airlines Co.'s consolidated statement of income for 2012 will he transferred to the next financial statement to be prepared. Net income is needed to complete which statement? Analyze Online:
Find the Investor Relations section of the Southwest Airlines Co. website (www.southwest.com) and answer the following questions.
4. What total operating revenues did Southwest Airlines Co. report for the most recent quarter'?
5. Find the most recent press release posted on the website. Read the press release, and summarize the topic discussed. What effect, if any, do you think this will have on company earnings? Why?

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Southiwest Airlines Co Consolidated Statement of Income Years Ended December 31, 2010, 2011, and 2012 2012 2011 2010 Operating Revenues (in millions) Passenger Freight Other $16,093 160 835 17,088 $14,735 139 784 15,658 $11,489 125 490 12,104 otol evenues Net Income 5421 5178 5459