Southwest Airlines Balance Sheet Period Ending: 12/31/2017 12/31/2016 Cash and Cash Equivalents $1,495,000 $1,680,000 Short-Term Investments $1,778,000 $1,625,000 Net Receivables $662,000 $546,000 Inventory $420,000 $337,000 Other Current Assets $460,000 $310,000 Total Current Assets $4,815,000 $4,498,000 Net Property & Equipment $18,539,000 $17,044,000 Goodwill $970,000 $970,000 Other Assets $786,000 $774,000 Total Assets $25,110,000 $23,286,000 Accounts Payable $3,097,000 $3,163,000 Short-Term Debt / Current $348,000 $566,000 Portion of Long-Term Debt Other Current Liabilities $3,460,000 $3,115,000 Total Current Liabilities $6,905,000 $6,844,000 Long-Term Debt $3,320,000 $2,821,000 Other Liabilities $2,097,000 $1,806,000 Deferred Liability Charges $2,358,000 $3,374,000 Total Liabilities $14,680,000 $14,845,000 Common Stocks $808,000 $808,000Period Ending: 12/31/2017 12/31/2016 Capital Surplus $1,451,000 $1,410,000 Retained Earnings $14,621,000 $11,418,000 Treasury Stock ($6,462,000) ($4,872,000) Other Equity $12,000 ($323,000) Total Equity $10,430,000 $8,441,000 Total Liabilities & Equity $25,110,000 $23,286,000 Annual Income Statement Period Ending: 12/31/2017 12/31/2016 Total Revenue $21,171,000 $20,425,000 Cost of Revenue $6,431,000 $6,132,000 Gross Profit $14,740,000 $14,293,000 Sales, General and Admin. $10,007,000 $9,312,000 Other Operating Items $1,218,000 $1,221,000 Operating Income $3,515,000 $3,760,000 Add'l income/expense items ($199,000) ($138,000) Earnings Before Interest and Tax $3,316,000 $3,622,000 Interest Expense $65,000 $75,000 Earnings Before Tax $3,251,000 $3,547,000 Income Tax ($237,000) $1,303,000 Net Income-Cont. Operations $3,488,000 $2,244,000 Net Income $3,488,000 $2,244,0003. Rohda Mitchelle purchased a small roadside motel in September with inheritance money she received from her wealthy aunt. Help her prepare the T accounts for her first month of operations using the information provided. a. Rohda invested $800,000 cash in the motel. b. Rohda purchased $23,000 supplies with $12,000 cash and $11,000 notes payable. c. Rohda generated $55,000 in revenues with $30,000 cash and $25,000 accounts receivable. d. Rohda paid insurance of $12,000 in cash