CT3: Refer to JetBlues (ticker symbol: JBLU) current/most recent financial statements (10-K) and the accompanying notes to answer the following questions. The current/most recent financial statement can be found on

https://www.sec.gov/edgar/searchedgar/companysearch.html.

Search for the company in the Fast Search box by using the ticker symbol provided above. In the list of results, find the latest filing labeled 10-K and select the Documents link. On the next page, select the document of type 10-K to open it.

1) Provide an overview of JetBlues current fare structures and revenue sources.

2) For each of the following revenue categories, describe the current accounting, the likely changes (if any) that the new revenue recognition standard will require, and the potential impact of those changes on patterns of revenue recognition.

a. Flight Transportation (for tickets used and for ticket breakage)

b. Loyalty Program

c. Ancillary Services and Other Revenue

3) Identify any areas that will require more discretion and judgment and specify why.