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$.$ 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

b$.$ 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?

e$.$ What are the actual tax rates? EPS?