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OK Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below SOUTHWEST AIRLINES C0. Balance Sheet
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Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below SOUTHWEST AIRLINES C0. Balance Sheet (partal) December 31 (in millons) Iatal aurent assets Nancurrent assets Total assets 2017 $2,375 10,250 2016 $4,250 12,370 $13,025 $16,620 Current liabilities $2,775 $4,770 5,210 9,980 6,640 $13,025S16,620 6,475 9,250 ,775 Long-term liabilities Total abilities Shareholders equity Total habilities and shareholders' equity Other intormation: 201 2016 Net ime lass) Incame tax expense Interest expense Cash provided by operations Capital expenditures Cash dividend S155 115 135 S 670 1,565 2,735 1,440 16 940 15 Note 8. Leases: The majonty of the company's terminal operabons space, as well as 82 aircraft, were under operating leases at December 31, 2017.uture minimum lease payments under n $249,000; 2021, $208,000; 2022, s 152,000, after 2023, 728,000. e operating leases are as follows: 2018, 76,000; 2019, $324,000; 2020. (a) Calculate each of the following ratios for 2017 and 2016Step by Step Solution
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