Answer the following questions based on provided data in Appendix:

Question 1: Current ratio changed by what percentage from 2018 to 2019?

(A) +11.4%

(B) +10.2%

(C) -10.2%

Question 2: Total debt-to-equity ration in 2019 was:

(A) 16.82

(B) 14.17

(C) 34.63

Question 3: Time interest earned ratio in 2019 was:

(A) 5.06

(B) 3.06

(C) 5.35

Question 4: Free operating cash flow to total debt ratio in 2019 was:

(A) .087

(B) .198

(C) .104

Appendix:

Income Statement

Revenues
Base Management Fees	1,180
Franchise fees	2,006
Incentive management fees	637
Gross fee revenues	3,823
Contract investment amortization	(62)
Net fee revenues	3,761
Owned, leased, and other revenue	1,612
Cost reimbursement revenue	15,599
	20,972
OPERATING COSTS AND EXPENSES
Owned, leased, and other-direct	1,316
Depreciation, amortization, and other	341
General, administrative, and other	938
Merger-related costs and charges	138
Reimbursed expenses	16,439
	19,172
OPERATING INCOME	1,800
Gains and other income, net	154
Interest expense	(394)
Interest income	26
Equity in earnings	13
INCOME BEFORE INCOME TAXES	1,599
Provision for income taxes	(326)
NET INCOME	1,273

Cash Flows Statement

OPERATING ACTIVITIES
Net income	1,273
Adjustments to reconcile to cash provided by operating activities:
Depreciation, amortization, and other	403
Share-based compensation	187
Income taxes	(200)
Liability for guest loyalty program	257
Contract acquisition costs	(195)
Merger-related charges	86
Working capital changes	(273)
Gain on asset dispositions	(147)
Other	294
Net cash provided by operating activities	1,685
INVESTING ACTIVITIES
Capital expenditures	(653)
Dispositions	395
Loan advances	(30)
Loan collections	51
Other	(47)
Net cash (used in) provided by investing activities	(284)
FINANCING ACTIVITIES
Commercial paper/Credit Facility, net	951
Issuance of long-term debt	1,397
Repayment of long-term debt	(835)
Issuance of ClassA Common Stock	7
Dividends paid	(612)
Purchase of treasury stock	(2,260)
Share-based compensation withholding taxes	(148)
Other	(8)
Net cash (used in) provided by financing activities	(1,508)
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(107)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	360
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	253

Balance Sheet

	December31,2018
ASSETS
Current assets
Cash and equivalents	225	316
Accounts and notes receivable, net	2,395	2,133
Prepaid expenses and other	252	249
Assets held for sale	255	8
	3,127	2,706
Property and equipment, net	1,904	1,956
Intangible assets
Brands	5,954	5,790
Contract acquisition costs and other	2,687	2,590
Goodwill	9,048	9,039
	17,689	17,419
Equity method investments	577	732
Notes receivable, net	117	125
Deferred tax assets	154	171
Operating lease assets	888	-
Other noncurrent assets	595	587
	25,051	23,696
LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities
Current portion of long-term debt	977	833
Accounts payable	720	767
Accrued payroll and benefits	1,339	1,345
Liability for guest loyalty program	2,258	2,529
Accrued expenses and other	1,383	963
	6,677	6,437
Long-term debt	9,963	8,514
Liability for guest loyalty program	3,460	2,932
Deferred tax liabilities	290	485
Deferred revenue	840	731
Operating lease liabilities	882	-
Other noncurrent liabilities	2,236	2,372
Shareholders equity
ClassA Common Stock	5	5
Additional paid-in-capital	5,800	5,814
Retained earnings	9,644	8,982
Treasury stock, at cost	(14,385)	(12,185)
Accumulated other comprehensive loss	(361)	(391)
	703	2,225
	25,051	23,696