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The following information was reported in the December 31, 2012; financial statements of Southwest Airlines, Inc. (listed alphabetically, amounts in millions).
1. Prepare an income statement for the year ended December 31, 2012.
2. Prepare a statement of retained earnings for the year ended December 31, 2012.
3. Prepare a balance sheet at December 31, 2012.
4. Using the balance sheet, indicate whether the total assets of Southwest Airlines at the end of the year were financed primarily by liabilities or stockholders' equity.
A business bad debt is deductible for tax purposes as a(n):
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Calculate Dans basis in his partnership interest at the end of the tax year. What items should dan report on his Federal income tax return
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Applicable Codification references Related presentation and disclosure issues for the notes Any additional clarifying information needed from company management
A ______________ is the vision of what management wants the organization to achieve over the long term.
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