Question
Using the Annual Report of Southwest Airlines answer the following questions in the Discussion: What balance sheet format does your Southwest Airlines use? What is
Using the Annual Report of Southwest Airlines answer the following questions in the Discussion:
What balance sheet format does your Southwest Airlines use?
What is Southwest Airlines largest current asset and largest current liability at year end?
Compute the current ratio at year end.
Did the current ratio improve, worsen, or hold steady?
LUV Company Financials
LUV
$52.68
*
1.97
3.88%
*Delayed - data as of Aug. 25, 2017 - Find a broker to begin trading LUV now
Exchange:NYSE Industry: Transportation Community Rating: Bullish
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Annual Income Statement (values in 000's) Get Quarterly Data
| Period Ending: | Trend | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||||||||||||||||||
| Cash and Cash Equivalents |
| $1,680,000 | $1,583,000 | $1,282,000 | $1,355,000 | ||||||||||||||||||||||||||
| Short-Term Investments |
| $1,625,000 | $1,468,000 | $1,706,000 | $1,797,000 | ||||||||||||||||||||||||||
| Net Receivables |
| $546,000 | $474,000 | $365,000 | $587,000 | ||||||||||||||||||||||||||
| Inventory |
| $337,000 | $311,000 | $342,000 | $467,000 | ||||||||||||||||||||||||||
| Other Current Assets |
| $310,000 | $188,000 | $232,000 | $250,000 | ||||||||||||||||||||||||||
| Total Current Assets |
| $4,498,000 | $4,024,000 | $3,927,000 | $4,456,000 | ||||||||||||||||||||||||||
| Long-Term Assets | |||||||||||||||||||||||||||||||
| Long-Term Investments |
| $0 | $0 | $0 | $0 | ||||||||||||||||||||||||||
| Fixed Assets |
| $17,044,000 | $15,601,000 | $14,292,000 | $13,389,000 | ||||||||||||||||||||||||||
| Goodwill |
| $970,000 | $970,000 | $970,000 | $970,000 | ||||||||||||||||||||||||||
| Intangible Assets |
| $0 | $0 | $0 | $0 | ||||||||||||||||||||||||||
| Other Assets |
| $774,000 | $717,000 | $534,000 | $530,000 | ||||||||||||||||||||||||||
| Deferred Asset Charges |
| $0 | $0 | $0 | $0 | ||||||||||||||||||||||||||
| Total Assets |
| $23,286,000 | $21,312,000 | $19,723,000 | $19,345,000 | ||||||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||||||||||
| Accounts Payable |
| $3,163,000 | $3,779,000 | $2,768,000 | $2,476,000 | ||||||||||||||||||||||||||
| Short-Term Debt / Current Portion of Long-Term Debt |
| $566,000 | $637,000 | $258,000 | $629,000 | ||||||||||||||||||||||||||
| Other Current Liabilities |
| $3,115,000 | $2,990,000 | $2,897,000 | $2,571,000 | ||||||||||||||||||||||||||
| Total Current Liabilities |
| $6,844,000 | $7,406,000 | $5,923,000 | $5,676,000 | ||||||||||||||||||||||||||
| Long-Term Debt |
| $2,821,000 | $2,541,000 | $2,434,000 | $2,191,000 | ||||||||||||||||||||||||||
| Other Liabilities |
| $1,806,000 | $1,517,000 | $1,809,000 | $1,208,000 | ||||||||||||||||||||||||||
| Deferred Liability Charges |
| $3,374,000 | $2,490,000 | $2,782,000 | $2,934,000 | ||||||||||||||||||||||||||
| Misc. Stocks |
| $0 | $0 | $0 | $0 | ||||||||||||||||||||||||||
| Minority Interest |
| $0 | $0 | $0 | $0 | ||||||||||||||||||||||||||
| Total Liabilities |
| $14,845,000 | $13,954,000 | $12,948,000 | $12,009,000 | ||||||||||||||||||||||||||
| Stock Holders Equity | |||||||||||||||||||||||||||||||
| Common Stocks |
| $808,000 | $808,000 | $808,000 | $808,000 | ||||||||||||||||||||||||||
| Capital Surplus |
| $1,410,000 | $1,374,000 | $1,315,000 | $1,231,000 | ||||||||||||||||||||||||||
| Retained Earnings |
| $11,418,000 | $9,409,000 | $7,416,000 | $6,431,000 | ||||||||||||||||||||||||||
| Treasury Stock |
| ($4,872,000) | ($3,182,000) | ($2,026,000) | ($1,131,000) | ||||||||||||||||||||||||||
| Other Equity |
| ($323,000) | ($1,051,000) | ($738,000) | ($3,000) | ||||||||||||||||||||||||||
| Total Equity |
| $8,441,000 | $7,358,000 | $6,775,000 | $7,336,000 | ||||||||||||||||||||||||||
| Total Liabilities & Equity |
| $23,286,000 | $21,312,000 | $19,723,000 | $19,345,000 | ||||||||||||||||||||||||||
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The Practitioners Blueprint To Construction Auditing
Authors: Ron Risner
1st Edition
0894137263, 978-0894137266
