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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 CO. Balance Sheet
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 Total current assets $2,760 $4,100 Noncurrent assets 10,100 12,360 Total assets $12.860 $16,460 Current liabilities $2,760 $4,995 Long-term liabilities 6,460 5,260 Total liabilities 9.220 10.255 Shareholders equity 3,640 6,205 Total liabilities and shareholders' equity $12.860 $16,460 Other information 2022 2021 Net income (loss) $155 $575 Income tax expense 100 395 Interest expense 130 113 Cash provided by operations (1.535) 2,825 Capital expenditures 990 1,325 Cash dividends 20 22 22
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