Read the “Delta Air Lines (A)” case in attach then,Answer the questions listed below. Submit your answers in a double-spaced Word document, clearly separating out each question and answer.Why have most airline firms not been able to achieve profitability? (Hint: Do an industry analysis to show how industry structure has impacted profitability in the airline industry, you have to use Porter's five 5 forces Model as a Graph and explain it in Paragraph each force separately).Why did the major legacy airlines like Delta and Continental not do well but low-cost airlines like Southwest and JetBlue did well in the same industry environment? (Hint – How did differences in the strategies and value chain activities of legacy airlines and low-cost airlines contribute to differences in competitive advantage and performance?).Why have legacy airlines not been able to imitate the success of their low-cost competitors? Even when legacy airlines like Delta launched low-cost subsidiaries like Delta Express, such strategies have failed. Why?Mark Balloun’s team at Delta is considering four strategic options (these are listed in the case). Which option would be the most effective strategy for Delta? Justify your answer.

TASK 4:Assignment InstructionsMary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Next, prepare a trial balance as of November 30.Part AMary invested $15,000 cash and a law library valued at $6,000.Part BPurchased $7,500 of office equipment from John Bronx on credit.Part CCompleted legal work for a client and received $1,500 cash in full payment.Part DPaid John Bronx $3,500 cash in partial payment of the amount owed.Part ECompleted $4,000 of legal work for a client on credit.Part FMary withdrew $2,000 cash from the business for personal use.Part GReceived $2,500 cash as partial payment for the legal work completed for the client in (e).Part HPaid $2,500 cash for the secretary’s salary. Task 7:Assignment InstructionsNakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory.Feb 2Write a $400 check to establish a petty cash fund.Feb 5Purchased paper for the copier for $14.15 that is immediately used.Feb 9Paid $32.50 shipping charges (transportation in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory.Feb 12Paid $7.95 postage to deliver a contract to a clientFeb 14Reimbursed Adina Sharon, the manager, $68 for mileage on her car.Feb 20Purchased office paper for $67.77 that is immediately used.Feb 23Paid a courier $20 to deliver merchandise sold to a customer, terms FOB destination.Feb 25Paid $13.10 shipping charges (transportation in) on merchandise purchased for resale, terms FOB shipping point. These cost are added to merchandise inventory.Feb 27Paid $54 for postage expensesFeb 28The fund had $120.42 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures.Feb 28The petty cash fund amount is increased by $100 to a total of $500