Question

The following information was reported in the December 31, 2012, financial statements of Southwest Airlines, Inc. (listed alphabetically, amounts in millions).
1. Prepare an income statement for the year ended December 31, 2012.
2. Prepare a statement of retained earnings for the year ended December 31, 2012.
3. Prepare a balance sheet at December 31, 2012.
4. Using the balance sheet, indicate whether the total assets of Southwest Airlines at the end of the year were financed primarily by liabilities or stockholders’ equity.


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  • CreatedNovember 02, 2015
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