SHEET ROADMAP This is Required Homework Since 2014 McDonalds has been converting restaurants it owned and operated to franchises. This has dramatically changed McDonalds' financials. Also since 2014 McDonalds has been repurchasing shares, driving its Common Equity negative. For each of the following accounts select in column F whether the measure has increased' or 'decreased' from 2014 to date. For each of the following accounts select in column H the cause of the change in column F: Franchising - the change resulted from McDonald's conversion of company operated restaurants to third-party franchises Share Repurchases - the change resulted from McDonald's aggressive repurchasing of shares Neither - the change resulted from neither franchising of company operated restaurants nor share repurchases Both - the change resulted from both franchising of company operated restaurants and share repurchases Revenues Gross Margin Interest Expense Tax Rate Net Income Shares Outstanding Earnings Per Share (EPS) Non-GAAP Net Inc to Common Adjust Cash Accounts Receivable Inventories Property, Plant & Equipment (PP&E) Excess Cash Debt SFAM's default forecast assumes that future year drivers will be the same as last year's. Use SFAM to forecast for 2020 the following hypothesized scenarios: Scenario Trend Accelerates Trend Reverses Growth -10% 60% 10% 40% Margins Net Margins Earnings Per Share SHEET ROADMAP This is Required Homework Since 2014 McDonalds has been converting restaurants it owned and operated to franchises. This has dramatically changed McDonalds' financials. Also since 2014 McDonalds has been repurchasing shares, driving its Common Equity negative. For each of the following accounts select in column F whether the measure has increased' or 'decreased' from 2014 to date. For each of the following accounts select in column H the cause of the change in column F: Franchising - the change resulted from McDonald's conversion of company operated restaurants to third-party franchises Share Repurchases - the change resulted from McDonald's aggressive repurchasing of shares Neither - the change resulted from neither franchising of company operated restaurants nor share repurchases Both - the change resulted from both franchising of company operated restaurants and share repurchases Revenues Gross Margin Interest Expense Tax Rate Net Income Shares Outstanding Earnings Per Share (EPS) Non-GAAP Net Inc to Common Adjust Cash Accounts Receivable Inventories Property, Plant & Equipment (PP&E) Excess Cash Debt SFAM's default forecast assumes that future year drivers will be the same as last year's. Use SFAM to forecast for 2020 the following hypothesized scenarios: Scenario Trend Accelerates Trend Reverses Growth -10% 60% 10% 40% Margins Net Margins Earnings Per Share