McDonald's Corporation is preparing its financial statements for 2023. The financial data includes:

Transactions (in $ millions)	Amount
Cash Sales	1,500,000
Credit Sales	750,000
Cash Payments	700,000
Accounts Receivable	200,000
Operational Costs	500,000
Estimated Franchisee Support	110,000

Requirements:

• Prepare McDonald's Corporation's income statement for 2023 using the modified cash basis.
• Calculate net income considering the conservatism principle.
• Discuss the impact of estimated franchisee support on financial statements.

Analyze the treatment of accounts receivable and operational costs under the conservatism principle.