FlintCorporation purchased machinery on January 1, 2022, at a cost of $290,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $34,000. The company is considering different depreciation methods that could be used for financial reporting purposes.

DOUBLE-DECLINING-BALANCE DEPRECIATION

Computation

End of Year

Years

Book Value Beginning of Year

Depreciation Rate

=Annual Depreciation Expense

AccumulatedDepreciation

Book Value

2022$

enter a dollar amount

enter a Depreciation Rate in percentages

%$

enter a dollar amount

$

enter a dollar amount

$

enter a dollar amount

2023enter a dollar amount

enter a Depreciation Rate in percentages

%enter a dollar amount

enter a dollar amount

enter a dollar amount

2024enter a dollar amount

enter a Depreciation Rate in percentages

%enter a dollar amount

enter a dollar amount

enter a dollar amount

2025enter a dollar amount

SupposeMcDonald's2022 financial statements contain the following selected data (in millions).

Current assets$3,411.0Interest expense$472.0Total assets30,219.0Income taxes1,935.0Current liabilities2,993.0Net income4,550.0Total liabilities16,186.0

(a1)

Compute the following values.

a. Working capital.(Round to 1 decimal place, e.g. 5,275.5)$

enter a dollar amount in millions

millions b.

Current ratio.(Round to 2 decimal places, e.g. 6.25:1.)enter current ratio rounded to 2 decimal places

:1c.Debt to assets ratio.(Round to 0 decimal places, e.g. 62%.)enter percentages rounded to 0 decimal places

%d. Times interest earned.(Round to 2 decimal places, e.g. 6.25.)enter times interest earned rounded to 2 decimal places