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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., sho SOUTHWEST AIRLINES CO. Balance
Problem 10-06A a Suppose you have been presented with selected information taken from the financial statements of Southwest Airlines Co., sho SOUTHWEST AIRLINES CO. Balance Sheet (partial) December 31 (in millions) 2022 2021 $2,835 $4,850 Total current assets 12,510 10,850 Noncurrent assets $13,685 $17,360 Total assets $2,835 $4,780 Current liabilities 6,535 4,945 Long-term liabilities 9,370 9,725 Total liabilities 7,635 Shareholders' equity 4,315 $13,685 $17,360 Total liabilities and shareholders' equity Other information: 2022 2021 Net income (loss) 170 $630 Income tax expense 100 410 Interest expense 125 107 (1,600 2,725 Cash provided by operations Capital expenditures 960 1,355 Cash dividends 10 17 (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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