The following comparative income statement information was provided by AMR Corp., the parent company of American Airlines for the years ended December 31, 2004 and 2003.

1. Provide a vertical analysis for the comparative years.
2. Interpret yourresults.

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December 31 December 31, (in millions) 2004 2003 Revenues: Passenger-American Airlines Regional affiliates Cargo Other revenues 15,021 1,876 625 $14,332 1,519 558 1.1231,031 Total operating revenues $18,645 $17440 Expenses Wages, salaries, and benefits Aircraft fuel Depreciation and amortization Other rentals and landing fees Commissions, booking fees, and credit card expense Maintenance, materials, and repairs Aircraft rentals Food service Other operating expenses Special charges U.S. government grant 6,719 3,969 1,292 1,187 1,107 971 609 558 2,366 7,264 2,772 1,377 1,173 1,063 860 687 611 2,428 407 (358) $18,284 S(844) Total operating expenses Operating loss 18,789 $ (144)