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Exercise 10-16 Suppose McDonald's 2017 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities $3,470.0 29,120.0 3,018.0
Exercise 10-16 Suppose McDonald's 2017 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities $3,470.0 29,120.0 3,018.0 18,054.0 Interest expense Income taxes Net income $481.0 1,899.0 4,549.0 Compute the following values. 1. Working capital. millions 2. Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 3. Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) 4. Times interest earned. (Round to 2 decimal places, e.g. 6.25.) times LINK TO TEXT Suppose the notes to McDonald's financial statements show that subsequent to 2017 the company will have future minimum lease payments under operating leases of $17,738.0 million. If these assets had been purchased with debt, assets and liabilities would rise by approximately $8,525 million. Recompute the debt to assets ratio after adjusting for this. (Round answer to o decimal places, e.g. 62%.) Debt to assets ratio
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