What information is provided in McDonald's basic financial statements? McDonald's Corporation (NYSE:MCD) is a publicly held corporation with more than $31 billion in assets. It started in 1940 as a BBQ restaurant in San Bernardino, California. In 1948, McDonald's switched to burgers, shakes, potato chips, and pie. Its Golden Arches are generally believed to be the most recognized symbol in the world. To follow are McDonald's four basic financial statements for its most recent year, the year ending December 31, 2016. Please note that all statements have been adapted and condensed for educational use and should not be used for investment decisions. Income Statement McDonald's Corporation Income Statement (adapted for classroom use) For Year Ended December 31, 2016 In millions Net revenues Expenses $ 24,621.9 16,877.4 Operating income (loss) $ 7,744.5 Other expenses and adjustments (3,058.0) Net income (loss) $ 4,686.5 Statement of Retained Earnings McDonald's Corporation Statement of Retained Earnings (adapted for classroom use) For Year Ended December 31, 2016 In millions Beginning retained earnings $ 44,594.5 Add net income 4,686.5 Less dividends declared and other 3,058.3 Ending retained earnings 46,222.7 "Includes adjustment of $(0.1) for stock option exercises