Q1. FREE CASH FLOW: Southwest Airlines would have been able to take advantage of a $1 billion opportunity during (2011 / __________ / 2009 / 2008).
Q2. CASH FLOW ADEQUACY: Southwest Airlines had adequate cash for capital expenditures and dividends during (__________ / __________ / __________ / 2008), as indicated by a cash flow adequacy ratio of (__________/ less) than 1.0.
Q3. CASH FLOW LIQUIDITY RATIO: Southwest Airlines lacked cash resources to cover current liability obligations during (2011 / 2010 / 2009 / __________), as indicated by a cash flow liquidity ratio of (greater / __________) than 1.0.
Q4. QUALITY OF INCOME: Southwest Airlines had adequate cash to support each $1 of net income during (__________ / __________ / __________ / 2008), as indicated by a quality of income ratio greater than (0.0 / __________ / 2.0).
Q5. The strongest cash position for Southwest Airlines was during (2011 / __________ / 2009 / 2008). Why? Support your response with at least two relevant observations.