3) Prepare a horizontal analysis of the balance sheet for 2016 to 2017.

4) Prepare a vertical analysis of the balance sheet for 2016 and 2017.

Southwest Airlines Co.
Consolidated Balance Sheet
(in millions, except share data)
	12/31/17	12/31/16	12/31/15
ASSETS
Current assets:
Cash and cash equivalents	$ 1,495	$ 1,680	$ 1,583
Short-term investments	1,778	1,625	1,468
Accounts and other receivables	662	546	474
Inventories of parts and supplies, at cost	420	337	311
Prepaid expenses and other current assets	460	310	188
Total current assets	4,815	4,498	4,024
Property and equipment, at cost:
Flight equipment	21,368	20,275	19,462
Ground property and equipment	4,399	3,779	3,219
Deposits on flight equipment purchase contracts	919	1,190	1,089
Assets constructed for others	1,543	1,220	915
	28,229	26,464	24,685
Less allowance for depreciation and amortization	9,690	9,420	9,084
Fixed Assets (net)	18,539	17,044	15,601
Goodwill	970	970	970
Other assets	786	774	717
Total Assets	$ 25,110	$ 23,286	$ 21,312
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$ 1,320	$ 1,178	$ 1,188
Accrued liabilities	1,777	1,985	2,591
Air traffic liability	3,460	3,115	2,990
Current maturities of long-term debt	348	566	637
Total current liabilities	6,905	6,844	7,406
Long-term debt less current maturities	3,320	2,821	2,541
Deferred income taxes	2,358	3,374	2,490
Construction obligation	1,390	1,078	757
Other noncurrent liabilities	707	728	760
Total liabilities	14,680	14,845	13,954
Stockholders' equity:
Common stock, $1.00 par value: 2,000,000,000 shares authorized;
807,611,634 shares issued in 2017 and 2016 and 2015	808	808	808
Capital in excess of par value	1,451	1,410	1,374
Retained earnings	14,621	11,418	9,409
Accumulated other comprehensive income (loss)	12	(323)	(1,051)
Treasury stock, at cost: 219,060,856 and 192,450,855 shares in 2017 and 2016 respectively	(6,462)	(4,872)	(3,182)
Total stockholders' equity	10,430	8,441	7,358
Total liabilities and stockholders' equity	$ 25,110	$ 23,286	$ 21,312