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Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below. SOUTHWEST AIRLINES CO.

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Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., shown below. SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,760 $4,100 Total current assets 10,100 12,360 Noncurrent assets $12,860 $16,460 Total assets $2,760 $4,995 Current liabilities 5,260 6,460 Long-term liabilities Total liabilities 9,220 10,255 6,205 3,640 Shareholders' equity $12,860 $16,460 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) $155 575 Income tax expense 100 395 Interest expense 130 113 (1,535 Cash provided by operations 2,825 Capital expenditures 1,325 066 Cash dividends 20 22 (a) Calculate each of the following ratios for 2022 and 2021 2022 2021 :1 :1 Current ratio (Round answers to 2 decimal places, e.g. 6.25:1.) 1. 2. Free cash flow (Enter negative amounts using either a negative sign preceding the number -45 or parenthesis e.g. (45).) $ $ 3. % % Debt to assets ratio (Round answers to 0 decimal places, e.g. 62%.) 4. times times Times interest earned (Round answers to 2 decimal places, e.g. 6.25.) Open Show Work Click if you would like to Show Work for this

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