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Use the information provided below for Southwest Airlines to answer the requirements

Finance

Use the information provided below for Southwest Airlines to answer the requirements. 
$ millions 2013 2014 2015 
Net operating assets (NOA) $ 7,670 $ 7,145 $ 8,151 
Net nonoperating obligations (NNO) (332) (296) 127 
Total stockholders' equity 8,002 7,441 8,024 
Net nonoperating expenses (NNE) 152 151 139 
Net operating profit after tax (NOPAT) 906 1,287 1,136 21,271 2,320 
Net income 754 2,181 22,486 
Revenue  20,365  21,271  22,486 

Below are the adjustments that analysts would use to account for Southwest's operating leases as if they were capitalized. Adjustments are based on the present value of Southwest's operating leases for fiscal years 2013- 2015

Balance Sheet Adjustments ($ millions) 2013 2014 2015 
Net operating assets (NOA) +3,267 +4,244 +3,188 
Net nonoperating obligations (NNO) +3,267 +4,244 +3,188 
Equity 0 0 0 

Income Statement Adjustments ($ millions) 2013 2014 2015 
Interest expense  +129 +167 +126 
Net nonoperating expense, NNE +81 +105 +79 
Net operating profit after tax, NOPAT +81 +105 +79 
Net income 0 0 0 
a. Compute the following ratios using the unadjusted and the adjusted numbers for each year. For simplicity only, use year-end balances for NOA, NNO, and equity. 
 Round ROE, RNOA, and NOPM to one decimal place (ex: 0.2345 = 23.5%). 
 Round NOAT and FLEV to two decimal places. , 
 Use negative signs with answers, when appropriate. 
 

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