Calculate and interpret the financial ratios for 2018 corresponding to the industry norms provided as follows: INDUSTRY NORMS Current ratio 0.70 Inventory turnover 35 times Total asset turnover 1.9 6.1% 11.6% Operating profit margin Operating income return on investment Debt ratio Fixed asset turnover 69% 3.2 Return on equity 12.78% B. "Financial ratios calculated and analyzed in a particular situation depend on the user of the financial statements."- Expound the advantages and limitations of ratio analysis. Let's look at each of these questions in turn. In doing so, we will use the MODUNU S CUIDU to illustrate the use of ratios in answering these questions. For ease of reference, we have ag shown McDonald's financial statements in followings Tables. McDonald's Corporation 2018 Income Statement (s Millions) Sales $11,508 6,537 $4,971 Cost of goods sold Gross profits Marketing expenses and general and administrative expenses Depreciation expense Total operating expenses Operating profits Interest expenses $ 1,832 345 $2.177 $ 2,794 387 Earnings before taxes $ 2,407 Income taxes 765 $1,642 Net income before preferred stock dividends Preferred stock dividends 25 Net income available to common stockholders $1,617 $ 101 71 247 McDonald's Corporation December 31, 2018 Balance Sheet met Cash Accounts receivables Inventories Prepaid expenses Total current assets Gross feed assets Accumulated depreciation Net foued assets Investments Other assets Total assets Liabilities and Equity Liabilities (debt): Short-term notes payable Accounts payable Taxes payable Accrued expenses SLA $20.088 5127 $14.961 702 1435 $10.242 51.679 651 652 52.985 Total current liabilities Long-term debt Total liabilities 5325 $9,310 Equity: 80 $ 708 Preferred stock Common stock Par value and paid in capital Retained earnings 11.927 3.783) SR852 $8.932 $18.242 Treasury stock Total common equity Total equity Total liabilities (debt) and equity