A condensed balance sheet for Northwest Airlines and a partially completed vertical analysis are presented below.

Required
1. Complete the vertical analysis by computing each line item from (a) through (c) as a percentage of total assets. Round to the nearest whole percentage.
2. What percentages of Northwest's assets relate to inventory of parts and supplies versus property and equipment? What does this tell you about the relative significance of these two assets to Northwest's business?
3. What percentage of Northwest's assets is financed by total shareholders' equity? By total liabilities?

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NORTHWEST AIRLINES Balance Sheet (summarized) December 31, 2012 (in millions of dollars) Current Liabilities Long-Term Liabilities Total Liabilities Contributed Capital Retained Earnings Total Shareholders' Equity Total Liabilities & Shareholders' Equity 8% $ 1,261 195 243 (b)% 38 $ 3,305 5,921 Cash Accounts Receivable Inventory of Parts and Supplies 2 60 7 33 9,226 1,100 Other Current Assets Property and Equipment, Net Other Assets Total Assets 2,580 17 10,578 (a) 5,137 6,237 $15,463 4 606 100% (c) $15,463 100%