Calculate the following ratios based on Wendy's 2017 and 2018 financial statements and comment on the differences between FY 2017 and FY 2018.

		Wendy's
		FY 2017	FY 2018
Liquidity	Current Ratio:
	Quick Ratio:
Comments on the companies' liquidity - what do the numbers say?
Asset Management	Total Asset Turnover:
	Avg Collection Period:
Comments on the companies' asset management - what do the numbers say?
Debt Management	Total Debt to Total Assets:
	Times Interest Earned:
Comments on the companies' debt management - what do the numbers say?
Profitability	Net Profit Margin:
	Return on Assets:
	Return on Equity:
	Modified Du Point Equation, FY 2012:
Comments on the companies' profitability - what do the numbers say?
Market Value Ratios	PE Ratio:
	Market to Book Ratio:
Comments on the companies' market values ratios - what do the numbers say?

Transcribed image text: Wendys Annual Data 2018-12-31 2017-12-31 1.78 0.8262 4.8053 56.3302 17.5541 EE EE Current Ratio Long-term Debt / Capital Debt/Equity Ratio Gross Margin Operating Margin EBIT Margin EBITDA Margin Pre-Tax Profit Margin Net Profit Margin Asset Turnover Inventory Turnover Ratio Receiveable Turnover Days Sales In Receivables ROE - Return On Equity Return On Tangible Equity ROA - Return On Assets ROI - Return On Investment Book Value Per Share Operating Cash Flow Per Share Free Cash Flow Per Share 2.3426 0.8093 4.294 63.9111 15.7171 15.7171 23.823 36.1597 28.9392 0.3704 155.6254 14.4796 25.2078 70.9562 -33.0166 10.7202 13.5279 2.8043 0.9154 0.6302 EE E E E 17.5541 27.8276 8.2572 15.8597 0.2986 169.2839 10.6951 34.1279 33.85 -13.0071 4.736 5.8842 2.3833 0.9465 0.6226 Wendys Annual Data Millions of US $ except per share data 2018-12-31 2017-12-31 2016-12-31 Net Income/Loss Total Depreciation And Amortization - Cash Flow Other Non-Cash Items Total Non-Cash Items Change in Accounts Receivable Change In Inventories Change In Accounts Payable Change In Assets/Liabilities Total Change In Assets/Liabilities Cash Flow From Operating Activities Net Change In Property, Plant, And Equipment Net Change In Intangible Assets Net Acquisitions/Divestitures $460.115 $128.879 $-427.333 $-298.454 $13.226 $-0.434 $-0.145 $20.779 $57.389 $224.228 $-69.857 $194.029 $125.687 $-51.505 $74.182 $-17.34 $-0.305 S-2.29 $-15.718 $-30.671 $238.793 $-81.71 $129.624 $124.304 $-44.001 $80.303 S-34.213 $0.034 $-6.635 $2.296 S-19.821 $193.825 $-150.023 $-18.178 $-5.272 $259.964 EEEEEEEEEEEEEEEEEEEEEEEEEE $449.987 $449.987 $0.959 $362.911 $34.765 $3.736 $3.736 $-9 $-92.246 $-26.983 Net Change In Short-term Investments Net Change In Long-Term Investments Net Change In Investments - Total Investing Activities - Other Cash Flow From Investing Activities Net Long-Term Debt Net Current Debt Debt Issuance/Retirement Net - Total Net Common Equity Issued/Repurchased Net Total Equity Issued/Repurchased Total Common And Preferred Stock Dividends Paid Financial Activities - Other Cash Flow From Financial Activities Net Cash Flow Stock-Based Compensation Common Stock Dividends Paid $0.718 $0.718 $-3.581 $107.078 S-24.617 $34.765 $-224.581 $-224.581 $-80.532 $-35.414 $-305.762 $273.688 S-26.983 $-113.347 $-113.347 $-68.322 S-24.617 S-317.185 $-317.185 $-63.832 $-6.427 $-412.061 $-109.031 $-7.145 $-215.797 $-63.125 $17.918 $20.928 $18.141 $-80.532 $-68.322 $-63.832 Wendys Annual Data Millions of US $ except per share data 2018-12-31 2017-12-31 1 $461.265 $204.08 Cash On Hand Notes And Loans Receivable Inventory Other Current Assets E E Total Current Assets E E E E E E $3.156 $62.602 $404.353 $1,263.059 $285.091 $2,064.919 $79.516 $3,692.585 $4,096.938 $227.162 $2,724.23 $273.29 $3,296.573 $3,523.735 E $3.687 $76.509 $665.718 $1,213.236 $274.137 $2,042.037 $96.907 $3,626.317 $4,292.035 $284.185 $2,752.783 $337.458 $3,359.401 $3,643.586 $47.042 $146.277 $-61.673 Property, Plant, And Equipment Long-Term Investments Goodwill And Intangible Assets Other Long-Term Assets Total Long-Term Assets Total Assets Total Current Liabilities Long Term Debt Other Non-Current Liabilities Total Long Term Liabilities Total Liabilities Common Stock Net Retained Earnings (Accumulated Deficit) Comprehensive Income Other Share Holders Equity Share Holder Equity Total Liabilities And Share Holders Equity E E E E E E E $47.042 $-163.289 $-46.198 E E E $648.449 $573.203 $4,096.938 E $4.292.035 Wendys Annual Data | Millions of US $ except per share data 2018-12-31 2017-12-31 Revenue $1,589.936 $573.791 $1,016.145 $1,223.408 $534.26 $689.148 lil $539.355 $203.593 EEE Cost Of Goods Sold Gross Profit Research And Development Expenses SG&A Expenses Other Operating Income Or Expenses Operating Expenses Operating Income Total Non-Operating Income/Expense Pre-Tax Income Income Taxes Income After Taxes Other Income Income From Continuous Operations Income From Discontinued Operations Net Income EBITDA $2.153 $1,340.044 $249.892 $325.024 $574.916 $114.801 $460.115 $-34.521 $1,008.65 $214.758 $-113.739 $101.019 $-93.01 $194.029 L! $460.115 $194.029 EEE $194.029 $340.445 $214.758 $460.115 $378.771 $249.892 238 245 $1.93 $1.88 EBIT Basic Shares Outstanding Shares Outstanding Basic EPS EPS - Earnings Per Share 244 252 $0.79 $0.77