Assets Current assets: Cash and cash equivalents Marketable securities Total cash, cash equivalents and marketable securities Restricted cash Accounts receivable Prepaid expenses, deposits and other Inventory Non-current assets: Property and equipment Intangible assets Other assets Total assets Note 2017 2016 1,147,076 226,090 1,373,166 1,520,822 1,520,822 5 18 18 18 in 00 00 00 109,700 102,649 129,648 127,785 138,676 181,070 43,045 1,794,235 33,535 1,965,861 619 4,567,504 4,036,880 7 59,517 18 78,584 66,187 95,368 6,499,840 6,164,296 Liabilities and shareholders' equity Current liabilities: Accounts payable and accrued liabilities. 18 Advance ticket sales 549,844 547,490 Deferred rewards program 695,111 626,635 Non-refundable guest credits 203,433 155,567 Current portion of maintenance provisions 43,288 42,942 Current portion of long-term debt 88 82,129- 103,571 9 153,149 145,128 Non-current liabilities: Long-term debt Other liabilities Deferred income tax Total liabilities Shareholders' equity: Share capital Equity reserves Hedge reserves 1,726,954 1,621,333 Maintenance provisions 8 270,347 9 1,895,898 262,663 1,901,530 18 19,171 8,374 10 374,946 309.694 4,287,316 4,103,594 1200 11 548.977 555,716 97,514 93,039 Retained earnings Total shareholders' equity Total liabilities and shareholders' equity (1.902) (11,003) 1,567,935 1,422,950 2,212,524 2,060,702 6.499,840 6,164,296 15343 The accompanying notes are an integral part of the consolidated financial statements. 2. Refer to WestJet's balance sheet in Appendix III at the end of the textbook. Find the line showing Advance ticket sales of $695,111 (thousand). a. Explain what you think the account Advance ticket sales represents. b. Prepare the journal entry that might have recorded this account balance