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I chose Gross Profit Rate, all these questions are revolving around gross profit rate of delta airlines

Be sure to answer those questions thoroughly!

1. What is the name and formula of the ratio according to our text?
2. Using the data provided, write out the formula and result for the three most recent yearsfor your selected company. Include the name of the company. Don't verbally discuss the ratio calculation.
3. Did the ratio increase/decrease/stay the same over the last three years? Explain the meaning.
4. What was the cause of that change? (Be specific! Not just that the numbers changed. Which component? Why? Dig into the finanical statements provided)
5. Is that change a good or bad thing? Why?
6. What does this ratio tell you about this company? (Why do we care?)
7. How does this ratio relate to at least one other ratio that you selected? (Not just the similar numbers, but how does this ratio inform you about the other ratios?)

\begin{tabular}{|l|l|l|l|} \hline Ratios & Consolidated Balance Sheets & Consolidated Statements of Oper & Consolidated Statements of Cas \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{ Censolidated Statements of Operations - USD (S) 5 in Milsions } & \multicolumn{3}{|c|}{12 Months Ended } & \multirow[b]{2}{*}{ Dec. 31.2019} \\ \hline & Dec. 31,2022 & Doc. 51.2021 & Dec. 31, 2020 & \\ \hline \multicolumn{5}{|l|}{ Pakenger: } \\ \hline Total passenger revenue & 40,218 & 22,519 & 12883 & 42.277 \\ \hline Catgo & 1,050 & 1,032 & 605 & 753 \\ \hline Other & 9314 & 6,348 & 3,604 & 3,977 \\ \hline Total oserating revenue & 50,52 & 29,899 & 17.095 & 47,007 \\ \hline \multicolumn{5}{|l|}{ Operating Expense: } \\ \hline Salarios and related conts & 11.902 & 9.738 & 8.754 & 11,225 \\ \hline Aircraft fuel and relaied taxes. & 11,482 & 5,633 & 3,176 & 8,519 \\ \hline Regional carriensexpense & 2,051 & 5,693 & 2.479 & 3,534 \\ \hline Depreciation and amortiration & 2.107 & 1,998 & 2312 & 2,581 \\ \hline Contracted services & 3.345 & 2,430 & 1,778 & 2.641 \\ \hline Aircraft maintenance materials and outside repain: & 1,982 & 1.01 & 822 & 1.751 \\ \hline Passenger commissions and other selling expenses & 1891 & 953 & 582 & 1,993 \\ \hline Landing fees and ofher teess & 2.181 & 2,019 & 1518 & 1.762 \\ \hline Paksenger service & 1.453 & 756 & 523 & 1.251 \\ \hline Profis sharing & 563 & 108 & 0 & 1,643 \\ \hline Aircraft twent & 50x & 430 & 399 & 423 \\ \hline Restructuring sharges & -124 & -19 & 8.219 & 0 \\ \hline Govemmene yrant recovenition & 0 & 4,512 & 3,946 & 0 \\ \hline Other & 7580 & 1,405 & 2.94 & 3016 \\ \hline Total epscatine expense & & 2,013 & 29,564 & 40,359 \\ \hline Operating lacontse & 3.061 & & -12.469 & 6.618 \\ \hline \multicolumn{5}{|l|}{ Nen-Operating Expense? } \\ \hline Interest saperese, net & -1.029 & -1.279 & -920 & -101 \\ \hline Impairments and equity method losses & -20 & .837 & 2.432 & +6 \\ \hline Uneratived caint.os en investiments, net & 73 & 4 & -105 & 110 \\ \hline Miscelliswoon, ad & N5. & 72 & 34 & .176 \\ \hline Total noth-ogsrating expense, net & 1,747 & 1,48 & 3,11k & -420 \\ \hline Insome Before Incoms Taxes & 1.914 & 398 & 15,57 & 6.196 \\ \hline Itoome Tax Provision & -596 & -118 & 3,202 & 1,431 \\ \hline Net Iscaene & 51,318 & & 5(12,356) & 34,767 \\ \hline Aase farning Per Share (USS per share) & 52.07 & 50.44 & 5(10.49) & 57.32 \\ \hline Dilued tarnings Fer Share (USs per share) & 2.06 & 0.44 & (19.49) & 7,30 \\ \hline Cash Dividends Deslared Per Share (USS per shares & 5000 & 5000 & 50.40 & 5131 \\ \hline \end{tabular} Consolidated Statements of Cas \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{RatiosConsolidatedBalanceSheetsConsolidatedBalanceSherts-USD($)5inMalliens} & \multicolumn{3}{|c|}{ Consolidated Statements of Oper } & Consolidate \\ \hline & Dec. 31,2022 & Dee, 31.2021 & Des. 31.2020 & Dec. 31,2019 \\ \hline \multicolumn{5}{|l|}{ Current Assets: } \\ \hline Cash and cash cquivalents & $3,266 & 87,933 & 58,307 & $2.882 \\ \hline Shon-term investments & 3,268 & 3,386 & 5,79 & 0 \\ \hline Acceunts feceivable, net of ad allowathee foe uncollectihle aceonets & 3.176 & 2.404 & 1.396 & 2.854 \\ \hline Fuel inventory & 1.424 & 1,098 & 377 & 730 \\ \hline Expendable parts and supplies inventories, net of an allowance for obsulescence & 0 & 0 & 355 & 521 \\ \hline Prepaid expenses and other & 1.877 & 1,119 & 1,150 & 1,262 \\ \hline Total curntat astets & 13.011 & 15,940 & 17,+04 & 8.249 \\ \hline \multicolumn{5}{|l|}{ Property and Equipment. Net: } \\ \hline Foperty and equipenent, net of accumulated deprecciation and amortization & 33,109 & 28,749 & 26,529 & 31,310 \\ \hline \multicolumn{5}{|l|}{ Other Assets: } \\ \hline Operating lease ripte-of-use asocts & 7,036 & 7.237 & 5,733 & 5.627 \\ \hline Goodwill & 9.753 & 9.753 & 9,753 & 9.71 \\ \hline Bentifiable intangibles, net of accummlated amostization & 5,992 & 6,001 & 6.011 & 5.163 \\ \hline Cast restricted foe airport construction & 0 & 473 & 1,556 & 636 \\ \hline Deferrod income taxes, enct & 325 & 1,294 & 1,9ks & 120 \\ \hline Other boncurrent asscts & 3,062 & 3.012 & 3,022 & 3.646 \\ \hline Total wher assets & 26.168 & 27,770 & 28,063 & 24.973 \\ \hline Tetal assets & 72.288 & 72,459 & 71,996 & 64,532 \\ \hline \multicolumn{5}{|l|}{ Curreat Liabitaties! } \\ \hline Cursent maturnies of kety-term debl and capial leases & 3,073 & 2,485 & 2,410 & 3.08k \\ \hline Air maffic liatidity & 8,160 & 6.22x & 4,044 & 5.116 \\ \hline Accounts payable & 5.106 & 4240 & 2,840 & 3.266 \\ \hline Accrued salaries and related benefits & 3,288 & 2,457 & 2,06 & 3,701 \\ \hline Froquent flyer deferred revenue & 3,4,34 & 2,710 & 1,777 & 3,219 \\ \hline Fucl card obligation & 1,100 & 1,160 & 1.100 & 736 \\ \hline Other accrued lisbilities & 1.779 & 1.746 & 1,670 & 1.078 \\ \hline Total current liabilities & 25,940 & 20,966 & 15,927 & 20,204 \\ \hline \multicolumn{5}{|l|}{ Nencurrent tiabilities: } \\ \hline Long-1erm debt and capial leases & 20.671 & 25,138 & 27,425 & 8.873 \\ \hline Noeccurent air traffic liability & 100 & 130 & 500 & 0 \\ \hline Fensinen, postretircment and related benwfiss & 3,707 & 6,035 & 10,610 & 8.452 \\ \hline Frequent flyer deferred fevenue & 4,448 & 4.849 & 5,405 & 3,509 \\ \hline Deferred incoune wase, net & 0 & 0 & o & 1.456 \\ \hline Other noncurren liabilines & 1040 & 11,454 & 10,575 & 6.680 \\ \hline Total moncrerent liabelities & 39,766 & 47,000 & 54,535 & 2,970 \\ \hline \multicolumn{5}{|l|}{ Comminthentr and Coectubemies } \\ \hline \multicolumn{5}{|l|}{ Stechloblders' Equity: } \\ \hline Common stosk at $0,000t par value; 1,500,000,000 shares authorixed & 0 & 0 & 0 & 0 \\ \hline Adsticeal paid-in eapital & 11526 & 11,447 & 11,259 & 11.129 \\ \hline Retained earning & 1.170 & (14s) & (42K) & 12.454 \\ \hline Accumulated other comprehensive loss & (5,901) & (7,190) & (9,03x) & (7,999) \\ \hline Treasury stock, at cosi, & (313) & (2k2) & (259) & (236) \\ \hline Total Moskholder cquity & 6.582 & 3,007 & 1,54 & 15.358 \\ \hline \multirow[t]{2}{*}{ Total liabitaties asd steckholders' equity } & 572.28 & 572,499 & 571,996 & 564.532 \\ \hline & 0 & 0 & & 0 \\ \hline \end{tabular}