Review the financial statements of Southwest Airlines in its latest annual report.
(https://www.southwest.com/investor_relations/annual_reports.html).
Then answer questions as follow.
Please provide with each answer which documents you used so I can review them to absorb the information ***
Question 1) What important information does the Southwest income statement reveal about the financial performance of the company over the last three years? Please provide Excel formula calculations.
Question 2) What important information does the Southwest balance sheet reveal about the financial position of the company over the last two years?
Question 3) Can you identify the major sources of financing used by Southwest Airlines from the information presented in the company's annual report? If not, how could you get this information?
Question 4) Who is responsible for:
a) the issuance, and
b) the content
of the Southwest financial statements?
Question 5) What assurance, if any, is there that the Southwest financial statements are in compliance with GAAP, and are free of material misstatements?
Question 6) Of what use, if any, are the notes to the financial statements?