Response to the following questions:
1. The three business activities are financing, investing, and operating. Using Southwest Airlines, give an example of a financing, investing, and operating activity.
2. What is the role of accounting in business?
3. Briefly describe the nature of the information provided by each of the following financial statements: the income statement, the retained earnings statement, the balance sheet, and the statement of cash flows. In your descriptions, indicate whether each of the financial statements covers a period of time or is for a specific date.