1. Suppose that in the next few years Carrefour wants to expand its shops to out of the city locations with access to highways and inexpensive land to construct its stores. Discuss how will you analyze the financial position of the company if you are the financial analyst for Carrefour? Hint: refer to the 4-step process in financial statement analysis and valuation.

3. Analyze the credit risk position of the company for 2020 and 2019 using the following ratios:

1. Time-interested earned ratio
2. EBITDA coverage ratio
3. Cash from operations to total debt
4. Total liabilities to equity