To develop the project, you will select the financial statements of American Airline using the EDGAR database (http://www.sec.gov/edgar.shtml). You will use the FASB coding system to research proposed accounting standards for the current year or for the previous year (liabilities and capital - only those referring to transactions). Then you will create financial accounting information, through Excel, where the proposed standards are applied, FASB, in the company you have chosen. REQUIRED: Using the American Airline 10K Report for the year ending December 31, 2021 (Annual Report 2021), answer questions 1 through 3. Question 4 provides the document you need to review. Look in the 10K for the leases note and summarize in your own words the impact the leases had on the company's Balance Sheet. Avoid merely copying and translating the note. Your explanation must show that you understand what you read and can explain it. Synthesize and not merely copy and paste. 1. Look in the 10K for Income Taxes and summarize in your own words the impact the deferred tax accounts had on the company's Balance Sheet. Avoid merely copying and translating the note. Your explanation must show that you understand what you read and can explain it. Synthesize and not merely copy and paste. 2. Information on the Balance Sheet possibly mixes lease debt with other long-term debt. This makes analysis difficult. Using the information provided in the lease note, prepare a vertical and horizontal analysis of the debt (liability) by lease. For vertical analysis you need the total assets of the company reported on the balance sheet. Comment on the results. 3. Using the information provided in the income tax note, prepare a vertical and horizontal analysis of the balances of (1) Total deferred tax assets, (2) Total deferred tax liabilities, and (3) Net deferred tax liability or Net Total deferred tax Asset. For vertical analysis you need the total assets of the company reported on the balance sheet. Comment on the results. 4. Review the document at the end of this instruction (everyone uses the same document for this question) where the data on the American Airlines Group Inc pension note is presented. Summarize in your own words what amounts and accounts American owes disclose in the (1) Balance Sheet and in the (2) Income Statement related to your Pension Plan (Pension benefits). Avoid merely copying and translating the note. Your explanation must show that you understand what you read and can explain it. Synthesize and not merely copy and paste.