McDonald's financial statements contain the following selected data (in millions). Current assets $3,881.9 Total assets 29,391.7 Current liabilities 4,498.5 Total liabilities 13,611.9 Interest expense $410.1 Income taxes 1,237.1 Net Income 2,395.1 Part 1 Your Answer Correct Answer Your answer is correct. Compute the following values. (Enter amounts in millions, eg. 525.2 million. Round current ratio and times interest earned to 2 decimal places, eg. 6.25:1 or 2.66 and debt to assets ratio to O decimal places, e.g. 25%. If answer is negative enter with either a-sign e.g. -525.5 or in parenthesis e.g. (525.5).) (1) Working capital $ 616.6 millions (2) Current ratio 0.86 :1 (3) Debt to assets ratio 46 % (4) Times interest earned 9.85 times Solution Attempts: 2 of 2 used Part 2 The notes to McDonald's financial statements show that subsequent to this year the company will have future minimum lease payments under operating leases of $10,513.8 million. If these assets had been purchased with debt, assets and liabilities would rise by approximately $9,400 million. Recompute the debt to assets ratio after adjusting for this. (Round answer to O decimal places, e.g. 25%) Debt to assets ratio %

McDonald's financial statements contain the following selected data (in millions). Current assets $3,881.9 Total assets 29,391.7 Current liabilities 4,498.5 Total liabilities 13,611.9 Interest expense $410.1 Income taxes 1,237.1 Net Income 2,395.1 Part 1 Your Answer Correct Answer Your answer is correct. Compute the following values. (Enter amounts in millions, eg. 525.2 million. Round current ratio and times interest earned to 2 decimal places, eg. 6.25:1 or 2.66 and debt to assets ratio to O decimal places, e.g. 25%. If answer is negative enter with either a-sign e.g. -525.5 or in parenthesis e.g. (525.5).) (1) Working capital $ 616.6 millions (2) Current ratio 0.86 :1 (3) Debt to assets ratio 46 % (4) Times interest earned 9.85 times Solution Attempts: 2 of 2 used Part 2 The notes to McDonald's financial statements show that subsequent to this year the company will have future minimum lease payments under operating leases of $10,513.8 million. If these assets had been purchased with debt, assets and liabilities would rise by approximately $9,400 million. Recompute the debt to assets ratio after adjusting for this. (Round answer to O decimal places, e.g. 25%) Debt to assets ratio %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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