Question
Southwest Airlines Co. (LUV) provides passenger services throughout the United States, Mexico, Jamaica, The Bahamas, Aruba, and the Dominican Republic. The following operating data (in
Southwest Airlines Co. (LUV) provides passenger services throughout the United States, Mexico, Jamaica, The Bahamas, Aruba, and the Dominican Republic. The following operating data (in millions) were adapted from recent financial statements of Southwest. Year 1 Year 2 Revenue $ 20,425 $ 21,171 Operating expenses: Fuel $ (3,647) $(3,940) Aircraft related (3,706) (3,709) Selling and general (6,798) (7,319) Other expenses (2,514) (2,688) Total operating expenses $(16,665) $(17,656) Operating income $ 3,760 $ 3,515 Question Content Area 1. Prepare common-sized income statements for Years 1 and 2. Round your answers to one decimal place.
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