2012 2011 Assets Current assets Cash and marketable securities Receivables BALANCE SHEET OF MCDONALD'S CORP., 2012 (Figures in $ millions) Liabilities and Shareholders! 2012 2011 equity Current liabilities 2,346 2,346 Debt due for repayment 1,385 1,345 Accounts payable 127 Total current liabilitles 1,099 626 397 3,153 3,413 132 3,413 3,550 4,962 Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets 4,444 Long-term debt 22,845 Other long-term liabilities 24,687 13,643 3,067 12,144 2.967 2,814 2,993 20,123 15,333 18,661 14,400 2,663 Total liabilities 3,109 Total shareholders' equity 33,061 Total liabilities and shareholders' equity Total assets 35,456 35,456 33,061 equipment 24,687 22,845 Other long-term liabilities 3,067 2,967 Intangible assets (goodwill) Other long term assets 2,814 2,663 3,109 20,123 15,333 2,993 18,661 14,400 Total liabilities Total shareholders' equity Total liabilities and shareholders equity Total assets 35,456 33,061 35,456 33,061 In 2012 McDonald's had capital expenditures of $3,059. a. Calculate McDonald's free cash flow in 2012. (Enter your answer in millions.) Free cash flow $ million If McDonald's was financed entirely by equlty, how much more tax would the company have pald? (Assume a tax rate of 35% on the revised pretax income.) (Do b. not round Intermediate calculations. Enter your answer in milions rounded to the nearest whole number.) Additional tax million 2012 2011 Assets Current assets Cash and marketable securities Receivables BALANCE SHEET OF MCDONALD'S CORP., 2012 (Figures in $ millions) Liabilities and Shareholders! 2012 2011 equity Current liabilities 2,346 2,346 Debt due for repayment 1,385 1,345 Accounts payable 127 Total current liabilitles 1,099 626 397 3,153 3,413 132 3,413 3,550 4,962 Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets 4,444 Long-term debt 22,845 Other long-term liabilities 24,687 13,643 3,067 12,144 2.967 2,814 2,993 20,123 15,333 18,661 14,400 2,663 Total liabilities 3,109 Total shareholders' equity 33,061 Total liabilities and shareholders' equity Total assets 35,456 35,456 33,061 equipment 24,687 22,845 Other long-term liabilities 3,067 2,967 Intangible assets (goodwill) Other long term assets 2,814 2,663 3,109 20,123 15,333 2,993 18,661 14,400 Total liabilities Total shareholders' equity Total liabilities and shareholders equity Total assets 35,456 33,061 35,456 33,061 In 2012 McDonald's had capital expenditures of $3,059. a. Calculate McDonald's free cash flow in 2012. (Enter your answer in millions.) Free cash flow $ million If McDonald's was financed entirely by equlty, how much more tax would the company have pald? (Assume a tax rate of 35% on the revised pretax income.) (Do b. not round Intermediate calculations. Enter your answer in milions rounded to the nearest whole number.) Additional tax million