This problem set uses Southwest for ALL questions. To start, go to its investor relations page and get its latest annual report (10-K). Make sure to use the last 3 full years! All your responses will be in the YELLOW areas only! 1. Using the firm's financials: a. b. Fill the income statement (in million $). Expenses without their own line should be grouped under "All other expenses". The net income lines must tie using formulas Create the common size income statement (as a % of operating revenues for that year) C. Show year-on-year (YOY, in %) growth d. What happened to the profit margins? What are the actual tax rates? EPS? 2. 3. e. Using the operating stats, what is the YoY growth rate for: a. b. C. Yield? Operating expense per available seat mile (CASM)? Revenue passenger miles (RPMs)? d. Fuel price (S/gallon)? e. What factors, other than the pandemic, are affecting margins the most? Using the firm's balance sheets, show: Balance sheets as shown (in million $); show only net property & equipment lines. Common size balance sheets. a. b. C. Are there any outliers in the balance sheets that you think merit mentioning? d. 4. For these years, what is the net working capital position? Current ratio? Quick ratio? Days receivable? Return on assets (ROA)? Return on equity (ROE)? What is the latest p/e ratio? (use Yahoo Finance) Using the Statement of Cash Flows, which items stand out to you and why? Total Operating Revenues. Operating Expenses: Salaries, wages and benefits Aircraft fuel Maintenance and repair Depreciation and amortization Landing fees and airport rent All other expenses Total Operating Expenses Operating Income Total other income/(expense) (Loss)/Income before taxes Income tax/(benefit) expense Net (Loss) Income Actual tax rate EPS in Million $ in % 2020 2021 2022 2020 2021 2022 YoY Growth 2021 2022 Answer part d below: