Q:1) What 3 items of important information does the Southwest income statement reveal about the financial performance of the company over the last three years?
2) What 3 items of important information does the Southwest balance sheet reveal about the financial position of the company over the last two years?
3) Can you identify the major sources of funding for operating costs and capital expenditures used by Southwest Airlines from the information presented in the company's annual report? If not, how could you get this information?
4) Who is responsible for: a) the issuance, and b) the content of the Southwest financial statements?
5) What assurance, if any, is there that the Southwest financial statements are in compliance with GAAP, and are free of material misstatements?
6) Of what use, if any, are the notes to the financial statements? Quantitative analysis tied to the financial statement concepts will add value to your work.
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