Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
REVENUES
Sales by Company-operated restaurants	$ 12,718.9	$ 15,295	$ 16,488.3
Revenues from franchised restaurants	10,101.5	9,326.9	8,924.7
Total revenues	22,820.4	24,621.9	25,413
OPERATING COSTS AND EXPENSES
Food & paper	4,033.5	4,896.9	5,552.2
Payroll & employee benefits	3,528.5	4,134.2	4,400
Occupancy & other operating expenses	2,847.6	3,667.7	4,024.7
Franchised restaurants-occupancy expenses	1,790	1,718.4	1,646.9
Selling, general & administrative expenses	2,231.3	2,384.5	2,434.3
Other operating (income) expense, net	(1,163.2)	75.7	209.4
Total operating costs and expenses	13,267.7	16,877.4	18,267.5
Operating income	9,552.7	7,744.5	7,145.5
Interest expense-net of capitalized interest of $5.3, $7.1 and $9.4	921.3	884.8	638.3
Nonoperating (income) expense, net	57.9	(6.3)	(48.5)
Income before provision for income taxes	8,573.5	6,866	6,555.7
Provision for income taxes	3,381.2	2,179.5	2,026.4
Net income	$ 5,192.3	$ 4,686.5	$ 4,529.3
Earnings per common sharebasic	$ 6.43	$ 5.49	$ 4.82
Earnings per common sharediluted	6.37	5.44	4.80
Dividends declared per common share	$ 3.83	$ 3.61	$ 3.44
Weighted-average shares outstandingbasic	807.4	854.4	939.4
Weighted-average shares outstandingdiluted	815.5	861.2	944.6

Q1. Interpret the composition of Return from Operating Activities and Nonoperating activities

Q2. What would be the cash conversion cycle?

Q3. What is the difference between Profit margin and Gross margin? Why would they have such a gap if there is any or no gap?

Q4. How did the risk of the company you chose have changed since last year?

Q5. What would be the Z score for the company you chose?