Homework Answers
a)largest asset is flight equipment costs and its book value as
of end of 2014 is 18473mn
b))Current ratio 2014=current assets/current liabilites
=4404/5923=0.74
2013=4456/5676=0.79
we can see current ratio decreases in 2014 compared to 2013
c)Air traffic liability is unearned revenue type where the airlines
collected money in advance for which the service is not yet
provided
d)Deferred income tax is largest longterm liability
e)total liabilites as of 2014= current liability+deferred income
tax+construction oblig+other noncurrent lib
=5923+2434+3259+554+1255=13425mn
f)Yes it is profitable as we can retained earnings in 2014 is
higher than 2013
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