The following information was reported in the december 31, 2012, financial state

Question

The following information was reported in the december 31, 2012, financial statementd of southwest airlines, Inc. prepare an income statement for the year ... (enter your answers in millions i.e., 10,000,000 should be entered as 10.).) The following information was reported in the december 31, 2012, financial statementd of southwest airlines, Inc. prepare an income statement for the year ... (enter your answers in millions i.e., 10,000,000 should be entered as 10.).) O ezto mneducation.com/nm.tpx Line roiiowing i ntormation applies to tne questions aispiayea peiow The following information was reported in the December 31, 2012, financial statements of Southwest Airlines Inc. (isted alphabetically, amounts in millions) Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash 4,650 580 8,700 2,970 1,220 20 14,370 260 130 3,100 6,950 1,200 Retained Earnings (as of December 31, 2012) 5,780 3,280 680 17100 Common Stock Equipment Income Tax Expense Interest Expense Landing Fees Expense Notes Payable Repairs and Maintenance Expense Salaries and Wages Expense Ticket Revenues Referenc Section Break M1-16 Proparing an Income Statement Statement of Retained Earnings, and Balance Sheet (LO 1-2, LO 1-3 Type here to search D e

Explanation / Answer

Income statement :

Revenue : Ticket revenue 17100 Total revenue 17100 Expenses : Salaries and wages expenses 3280 Aircraft fuel expenses 8700 Landing fees expenses 3100 Interest expenses 130 Repairs and maintenance 1200 Total expenses 16410 Income before tax 690 Less: Income tax 260 Net income 430

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