Attached are the financial statements from the 2020 10-K filing of McDonald's Corporation. Unless otherwise indicated, enter your answers below in millions of dollars to one decimal point, as shown on the statement, without dollar signs. Do not enter negative numbers; all questions ask for dollar amounts. McDonalds FY 2020 financial statements.pdf a. What was McDonald's Net income for the year ended Dec. 31, 2020? b. How much depreciation and amortization expense did McDonalds report for the year ended Dec. 31, 2019? c. How much cash did McDonald's generate from operations for the year ended Dec. 31, 2018? d. How much cash did McDonald's use to purchase restaurants and other businesses during the year ended Dec. 31, 2020? e. How much cash did McDonald's obtain from selling property in the year ended Dec. 31, 2019? f. How much cash did McDonald's use to purchase Treasury stock in the year ended Dec. 31, 2018? g. How much cash did McDonald's obtain from issuing long-term debt (financing) in the year ended Dec. 31, 2020? h. In computing cash provided by operations for the year ended Dec. 31, 2018, McDonald's subtracted 497.4 million from net income due to "accounts receivable." Does this subtraction indicate that (A) sales on account during the year were greater than cash collections from customers, or (B) cash collections from customers were greater than sales on account? Enter A or B. Consolidated Statement of Income 2019 2018 $ 9,420.8 11,655.7 287.9 21,364.4 $ 10,012.7 11,012.5 232.7 21,257.9 . 2,980.3 2,704.4 2,075.9 2,200.6 223.8 3,153.8 2,937.9 2,174.2 1,973.3 186.1 In millions, except per share data Years ended December 31, 2020 REVENUES Sales by Company-operated restaurants $ 8,139.2 Revenues from franchised restaurants 10,726.1 Other revenues 342.5 Total revenues 19,207.8 OPERATING COSTS AND EXPENSES Company-operated restaurant expenses Food & paper 2,564.2 Payroll & employee benefits 2,416.4 Occupancy & other operating expenses 2,000.6 Franchised restaurants-occupancy expenses 2,207.5 Other restaurant expenses 267.0 Selling, general & administrative expenses Depreciation and amortization 300.6 Other 2,245.0 Other operating (income) expense, net (117.5) Total operating costs and expenses 11,883.8 Operating income 7,324.0 Interest expense-net of capitalized interest of $6.0, $7.4 and $5.6 1,218.1 Nonoperating (income) expense, net (34.8) Income before provision for income taxes 6,140.7 Provision for income taxes 1,410.2 Net income $ 4,730.5 Earnings per common share-basic $ 6.35 Earnings per common share-diluted $ 6.31 Dividends declared per common share $ 5.04 Weighted-average shares outstanding-basic 744.6 Weighted-average shares outstanding-diluted 750.1 ......... ... HERRIER 262.5 1,966.9 (119.8) 12,294.6 9,069.8 1,121.9 (70.2) 8,018.1 1,992.7 $ 6,025.4 $ 7.95 $ 7.88 $ 4.73 758.1 764.9 214.8 1,985.4 (190.2) 12,435.3 8,822.6 981.2 25.3 7,816.1 1,891.8 5,924.3 7.61 7.54 4.19 778.2 785.6 $ $ $ $ See Notes to consolidated financial statements. Consolidated Balance Sheet 2019 $ 898.5 2,224.2 50.2 385.0 3,557.9 1,270.3 2,677.4 2,584.0 6,531.7 13,261.2 39,050.9 (14,890.9). 24,160.0 $ 47,510.8 In millions, except per share data December 31, 2020 ASSETS Current assets Cash and equivalents $ 3,449.1 Accounts and notes receivable 2,110.3 Inventories, at cost, not in excess of market 51.1 Prepaid expenses and other current assets 632.7 Total current assets 6,243.2 Other assets Investments in and advances to affiliates 1,297.2 Goodwill 2,773.1 Miscellaneous 3,527.4 Total other assets 7,597.7 Lease right-of-use asset, net 13,827.7 Property and equipment Property and equipment, at cost 41,476.5 Accumulated depreciation and amortization (16,518.3). Net property and equipment 24,958.2 Total assets $ 52,626.8 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 741.3 Lease liability 701.5 Income taxes 741.1 Other taxes 227.0 Accrued interest 388.4 Accrued payroll and other liabilities 1,138.3 Current maturities of long-term debt 2,243.6 Total current liabilities 6,181.2 Long-term debt 35,196.8 Long-term lease liability 13,321.3 Long-term income taxes 1,970.7 Deferred revenues - initial franchise fees 702.0 Other long-term liabilities 1,054.1 Deferred income taxes 2,025.6 Shareholders' equity (deficit) Preferred stock, no par value; authorized - 165.0 million shares; issued - none Common stock, $.01 par value; authorized - 3.5 billion shares; issued - 1,660.6 million shares 16.6 Additional paid-in capital 7,903.6 Retained earnings 53,908.1 Accumulated other comprehensive income (loss) (2,586.8) Common stock in treasury, at cost; 915.2 and 914.3 million shares (67,066.4). Total shareholders' equity (deficit) (7,824.9) Total liabilities and shareholders' equity (deficit) $ 52,626.8 $ 988.2 621.0 331.7 247.5 337.8 1,035.7 59.1 3,621.0 34,118.1 12,757.8 2,265.9 660.6 979.6 1,318.1 16.6 7,653.9 52,930.5 (2,482.7) (66,328.6) (8.210.3). $ 47,510.8 See Notes to consolidated financial statements. Consolidated Statement of Cash Flows In millions Years ended December 31, 2020 2019 2018 Operating activities Net income $ 4,730.5 $ 6,025.4 $ 5,924.3 Adjustments to reconcile to cash provided by operations Charges and credits: Depreciation and amortization 1,751.4 1,617.9 1,482.0 Deferred income taxes 6.4 149.7 102.6 Share-based compensation 92.4 109.6 125.1 Net gain on sale of restaurant businesses (28.2) (128.2) (308.8) Other (75.2) 49.2 114.2 Changes in working capital items: Accounts receivable (6.8) 27.0 (479.4) Inventories, prepaid expenses and other current assets (68.6) 128.8 (1.9) Accounts payable (137.5) (26.8) 129.4 Income taxes (43.6) 173.4 (33.4) Other accrued liabilities 44.4 (3.9). (87.4) Cash provided by operations 6,265.2 8,122.1 6,966.7 Investing activities Capital expenditures (1,640.8) (2,393.7) (2,741.7) Purchases of restaurant and other businesses (66.1) (540.9) (101.7) Sales ness 76.3 340.8 530.8 Sales of property 27.4 151.2 160.4 Other 57.4 (628.5) (302.9 Cash used for investing activities (1,545.8) (3,071.1). (2,455.1) Financing activities Net short-term borrowings (893.1) 799.2 95.9 Long-term financing issuances 5,543.0 4,499.0 3,794.5 Long-term financing repayments (2,411.7) (2,061.9) (1,759.6) Treasury stock purchases (907.8) (4,976.2) (5,207.7) Common stock dividends (3,752.9) (3,581.9) (3,255.9) Proceeds from stock option exercises 295.5 350.5 403.2 Other (122.0) (23.5). (20.0) Cash used for financing activities (2,249.0) (4.994.8) (5,949.6) Effect of exchange rates on cash and equivalents 80.2 (23.7) (159.8) Cash and equivalents increase (decrease). 2,550.6 32.5 (1,597.8) Cash and equivalents at beginning of year 898.5 866.0 2,463.8 Cash and equivalents at end of year $ 3,449.1 $ 898.5 $ 866.0 Supplemental cash flow disclosures Interest paid $ 1,136.0 $ 1,066.5 $ 959.6 Income taxes paid 1,441.9 1,589.7 1,734.4 ......! See Notes to consolidated financial statements