please help with the above table. Q1,Q2, and Q4. I am attaching other tables from the other tabs. thanks for your help

E H 1. Please enter the data from the previous tabs by clicking on the cell and typing and then clicking on the desired cell. For example to enter Net Income for 2018 type and go to the income statement tab and click on cell 127.1 2. Complete the calculations. 3. Explain the significance of your ratio calculations. Be careful, only Balance sheet numbers are in thousands. Income Statement and Cash Flow Statement numbers are as presented. Brigham, E; Ehrhardt, M. (2017). Chapter 3. Financial Management, Theory and Practice. Boston, MA: Cengage Learning 2 3 4 5 7 Suggested level for a good result Solvency Ratios 1 Ability to Pay Interest: Times Interest Earned Ratio a. Calculate Earnings before Interest and Taxes (EBIT) 10 11 12 13 2018 2017 Operating income Depreciation and amortization Add: 318,474,000 289653000 14 6680000 15 143300000 16 equals 332,804,000 296333000 EBIT 45039000 17 Interest 45908000 18 19 b. Calculate Times Interest Earned Ratio EBIT / Interest 6.93722 6.43115 Above 4.5 20 21 Leverage Ratios 22 2 Market Debt Ratio 2018 a. Find Market Value of Equity from "Market Cap" in Yahoo Finance 23 3,911,131,200 24 b. Calculate Total Debt + Market Value of Equity 25 26 Add: 796,223 Total Debt 27 Market Value of Equity 3,911,996,089 28 Total Debt + Market Value of Equity Total: 3,911,131,200 29 30 0.50% Statement of Cash Flows c. Calculate Market Debt Ratio Below .25 or 25% 10-K Document Questions Instructions Balance Sheet Ratio Analysis Income Statement D A Profitability Ratios 3 Net Profit Margin 2017 2018 Net Income 122327000 216355000 1041304000 Total Revenues 941297000 Calculate Net Profit Margin Above 8 % 0.207773138 0.129955795 4 Basic Earning Power (BEP) 2018 2017 296333000 EBIT 332,804,000 Total Assets, Multiply by 1,000 to compare 1138370000 995191000 Calculate BEP 27976 Above 12 % 0.29105 Asset Management Ratios 5 Evaluating Receivables: Days Sales Outstanding a. Calculate Average Daily Sales Total revenues 1041304000 941297000 365 days 365 365 Average Sales per day 285887.6712| 2578895.89 Receivables (net ..)X 1000 138018000 125870000 Average Sales per Day 2578895.89 2852887.671 b. Calculate Days Sales Outstanding 48.37835061 48.80777089 50 days or less 6 Explain the significance of your ratio calculations. Instructions 10-K Document Questions Statement of Cash Flows Balance Sheet Ratio Analysis Income Statement 12 Months Ended Horizontal Analysis Consolidated Balance Sheets -USD ($) $ in Thousands $ Change 2017 to 2018 % Change 2017 to 2018 Dec. 31, 2017 Dec. 31, 2018 Current assets Cash and cash equivalents Receivables (net of allowance for doubtful accounts of $15,905 and $208,694.00 -88.68 % $26,642 $235,336 $125,870 9.65% $12,148.00 $12,221, respectively) Income taxes receivable Notes receivable, net of allowances Other current assets $138,018 0.00 % 177.30%| 24.17 %| -39.12 % $10,122.00 $23,503.00 $6,276.00 -$156,645.00 $0 $10,122 $13,256 $36,759 $32,243 $25,967 $400,429| $83,374 $80,757 $100,492| $80,136| $20,838 $243,784 Total current assets 52.97% $44,161.00 Property and equipment, at cost, net Goodwill Intangible assets, net Notes receivable, net of allowances $127,535 109.26% $168,996 $88,239.00 169.86% $170,696.00 $271,188 4.12 % $3,304.00 $1,440.00 $25,210.00 $83,440 Investments, employee benefit plans, at fair value Investments in unconsolidated entities Deferred income taxes -6.91 % -18.78 % $19,398 6109,016 $30,613 $84,400 $134,226 $27,224 $3,389.00 12.45% Other assets $67,715 $16,685.00 $143,179.00 24.64% 14.39 % Total assets $1,138,370 $995,191 Current liabilities Accounts payable $73,511 $67,839 $5,672.00 8.36% $84,315 Accrued expenses and other current liabilities Deferred Revenue $92,651 $8,336.00 9.89% $67,614 $52,142 $15,472.00 29.67% Liability for guest loyalty program Current portion of long-term debt $83,566 $79,123 $1,232 $4,443.00 -$135.00 5.62 % $1,097 $318,439 $753,514 -10.96 % Total current liabilities $284,651 $725,292 Statement of Cash Flows $33,788.00 $28,222.00 Ratio Analysis 11.87 % Long-term debt Instructions 3.89% 10-K Document Questions Balance Sheet income Statement Type here to search Format Painter yRes Number Styles Alignment Font Clipboard fr E F G D A Long-term portion Deferred compensation and retirement plan obligations $11,819.00 -$1,354.00 -$2,765.00 -$39.00 $3,626.00 $4,947.00 $68,350.00 12.00% $98,459 $25,566 $29,041 $110,278 $24,212 $26,276 $0 $52,327 $37,096 $1,322,142 -5.30% -9.52% -100.00 % Income taxes payable Deferred income taxes Liability for guest loyalty program $39 7.45% $48,701 $42,043 $1,253,792 -1177.00 % 5.45% Other liabilities Total liabilities Commitments and Contingencies Common stock, $0.01 par value; 160,000,000 shares authorized; 95,065,638 shares issued at December 31, 2018 and December 31, 2017; 55,679,207 and 56,679,968 shares outstanding at December 31, 2018 and December 31, 2017, respectively Additional paid-in-capital Accumulated other comprehensive loss Treasury stock, at cost; 39,386,431 and 38,385,670 shares at December 31, 2018 and December 31, 2017, respectively Retained earnings Total shareholders' deficit Total liabilities and shareholders' deficit $0.00 $30,722.00 -$747.00 $951 0.00% $951 $182,448 $4,699 $213,170 16.84% -$5,446 15.90% -$1,064,573 $627,272 $258,601 $995,191 -$1,187,625 $795,178 -$183,772 $1,138,370 -$123,052.00 $167,906.00 $74,829.00 $143,179.00 11.56% 26.77% -28.94% 14.39% Questions: 1. Choice Hotels works with franchisees who operate hotels under one of the Choice Hotels' brands such as Cambria Hotels, Sleep Inn, and Econo Lodge. The Balance called Property and equipment, at cost, net. What is Property and equipment, at cost, net and why was there a significant difference from 2017 to 2018? G E 12 Months Ended Horizontal Analysis Consolidated Statements of Income- USD ($) REVENUES: Dec. 31, 2016 $ Change 2017 to 2018 % Ohange 2017 to 2018 S Change 2016 to 2017 % Change 2016 to 2017 Dec. 31, 2018 Dec. 31, 2017 $24,046,000.00 $34,931,000.00 $3,034,000.00 $10 8% $317,699,000 $19,720,000 $35,844,000 $376,676,000 $341,745,000 $23,038,000 Royalty fees Initial franchise and relicensing fees Procurement services Marketing and reservation system Other $13 $29 $9 $3,318,000.00 17% $26,072,000 $4,607,000.00 13 % $11,637,000.00 $52,088,000 $543,677,000 $40,451,000 $90,505,000.00 22% $499,625,000 $36,438,000 $941,297,000 $409,120,000 $44,052,000.00 $10,912,000.00 $133,388,000.00 $6,353,000.00 $100,007,000.00 $17 $11 43% $42,791,000 $25,526,000 17% $807,909,000 $1,041,304,000 Total revenues OPERATING EXPENSES: $11,101,000.00 -$316,000.00 $19,635,000.00 $30,420,000.00 $0.00 $370,000.00 $102,598,000.00 $170,027,000 $14,330,000 $534,266,000 $718,623,000 -$4,289,000 $4,206,000.00 $7,650,000.00 $54,866,000.00 $66,722,000.00 $3 7% Selling, general and administrative Depreciation and amortization Marketing and reservation system Total operating expenses Impairment of goodwill Gain on sale of assets, net Operating income OTHER INCOME AND EXPENSES, NET: Interest expense Interest income Other (gain) loss Equity in net (income) loss of affiliates Total other income and expenses, net $165,821,000 $154,720,000 5 % $115 $6,996,000 $6,680,000 4% 5 % $11 $10 $479,400,000 $459,765,000 $621,481,000 $651,901,000 $0 $0 $0 $4,289,000.00 -59% -$175,000.00 $28,821,000.00 ($68) $10 $82,000 $257,000 $627,000 $289,653,000 55% S318,474,000 S187,055,000 $45,039,000 $44,446,000 $869,000.00 -$1,532,000.00 $4,666,000.00 $2 $593,000.00 $45,908,000 1% -$7,452,000 $1,437,000 $5,323,000 $45,216,000 $273,258,000 $56,903,000 $216,355,000 $5,920,000 -$3,229,000 $26 ($145) 67% -$3,535,000 $2,385,000.00 $1,504,000 -$1,725,000.00 115% $4,546,000 -$492,000 $777,000.00 $17 $5,038,000.00 $1,521,000.00 -1024 % 4% $40,436,000 $38,915,000 $4,780,000.00 $12 Income before income taxes $249,217,000 $148,140,000 $24,041,000.00 $10 $101,077,000.00 68% $126,890,000 Income taxes $41,428,000 $69,987,000.00 ($551 $77 206 % 15% $85,462,000.00 $106,712,000 $94,028,000.00 Net income Basic earnings per share: Basic earnings per share (in dollars per share) Diluted earnings per share (in dollars per share) $122,327,000 $15,615,000.00 $2.16 $2.15 $1.90 $3.83 $1.67 $77 $0.26 14% $1.65 $3.80 $1.89 $77 $0.26 14% Instructions 10-K Document Questions Ratio Analysis Statement of Cash Flows Balance Sheet Income Statement Count: 2 Type here to search 899 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 Consolidated Statements of Cash Flows 2 CASH FLOWS FROM OPERATING ACTIVITIES 3 $106,712,000 $122,327,000 $216,355,000 Net income Adjustments to reconcile net income to net cash provided by 4 operating activities: Depreciation and amortization Depreciation and amortization - marketing and reservation 5 $6,996,000 $6,680,000 $14,330,000 6 $20,609,000 $7,191,000 $20,663,000 $6,423,000 $19,597,000 $9,239,000 $4,289,000 -$56,000 $10,542,000 $15,986,000 $3,695,000 $3,510,000 system Franchise agreement acquisition cost amortization Impairment of goodwill Gain on disposal of assets, net Provision for bad debts, net Non-cash stock compensation and other charges Non-cash interest and other investment (income) loss Deferred income taxes Equity in net losses from unconsolidated joint ventures, less 7 $0 $0 -$571,000 $3,365,000 $25.346,000 $1,059,000 $29,723,000 $237,000 $5,514,000 $22,857,000 -$772,000 $57,106,000 10 11 $1,025,000 -$17,410,000 $38,150,000 $152,035,000 $6,579,000 -$30,638,000 $40,158,000 $257,374,000 $7,389,000 distributions received Franchise agreement acquisition cost, net of reimbursements Change in working capital and other, net of acquisition Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES Investment in property and equipment Investment in intangible assets Proceeds from sales of assets Asset acquisition, net of cash acquired Business acquisition, net of cash acquired Contributions to equity method investments Distributions from equity method investments Purchases of investments, employee benefit plans Instructions 15 $52,929,000 16 -$2,031,000 $242,896,000 17 18 19 $47,673,000 $23,437,000 -$2,517,000 $1,000,000 $0 -$25,191,000 $2,580,000 $11,462,000 -$28,583,000 $0 20 -$1,803,000 21 $3,053,000 22 $3,179,000 23 -$1,341,000 -$231,317,000 $9,604,000 $1,429,000 24 -$50,554,000 $4,569,000 -$34,661,000 25 $3,700,000 26 $1,661,000 Statement of Cash Flows 27 -$2,895,000 Income Statement $2,447,000 Ratio Analysis 10-K Document Questions Balance Sheet 2 34 A D E Distributions from equity method investments Purchases of investments, employee benefit plans Proceeds from sales of investments, employee benefit plans $1,429,000 -$2,895,000 $2,825,000 -$36,045,000 $4,997,000 -$1,040,000 $321,252,000 $4,569,000 $2,447,000 $2,245,000 $19,738,000 $655,000 $109,000 $90,115,000 $3,700,000 -$1,661,000 $1,911,000 -$32,604,000 $11,070,000 $11,000 -$98,467,000 Issuance of notes receivable Collections of notes receivable Other items, net Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of long term debt Net (repayments) borrowings pursuant to revolving credit facilities Principal payments on long-term debt Proceeds from other debt agreements $9,037,000 $0 $0 $20,600,000 $603,000 $0 -$115,003,000 $25,795,000 $988,000 $550,000 -$284,000 $35,926,000 -$46,182,000 $660,000 $0 -$2,590,000 $148,679,000 -$48,715,000 Debt issuance costs $0 -$9,807,000 -$48,651,000 Purchases of treasury stock Dividends paid Proceeds from transfer of interest in notes receivable Proceeds from exercise of stock options Net cash used in financing activities Net change in cash and cash equivalents $173,000 $24,237,000 $0 $12,951,000 -$44,084,000 $9,484,000 $41,360,000 -$129,417,000 $207,773,000 $14,107,000 -$135,777,000 $31,482,000 Effect of foreign exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Cash payments during the year for: $1,391,000 -$921,000 $235,336,000 $26,642,000 $462,000 $193,441,000 $202,463,000 $202,463,000 $235,336,000 $65,683,000 $41,992,000 $77,357,000 $39,181,000 Income taxes, net of refunds $42,405,000 $43,254,000 Interest, net of capitalized interest Non-cash investing and financing activities: Dividends declared but not paid Instructions $12,112,000 $12,185,000 Statement of Cash Flows $11,977,000 income Statement Ratio Analysis 10-K Document Questions Balance Sheet Non-cash investing and financing activities: Dividends declared but not paid Investment in property, equipment and intangibles acquired in accounts payable and accrued liabilities Sale of investment in unconsolidated joint venture Seller-financing to purchaser $12,112,000 $11,977,000 $12,185,000 $3,648,000 $2,350,000 $1,099,000 $0 $2,000,000 $5,949,000 $0 $0 $0 Questions: 1. When you examine the Statement of Cash Flows, you recognize an Asset Acquisition. What business did Choice Hotels acquirtin 2016? And how Cambria Hotels The aggregate purchase price was $29.0 million consisting of $28.7 million cash with additional $0.3 million of current Instructions Ratio Analysis Statement of Cash Flows 10-K Document Questions Balance Sheet Income Statement Type here to search 99+