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Suppose McDonalds 2017 financial statements contain the following selected data (in millions). ...

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Accounting

Suppose McDonalds 2017 financial statements contain the following selected data (in millions).

Current assets $3,385.0 Interest expense $466.0
Total assets 29,035.0 Income taxes 1,883.0
Current liabilities 2,940.0 Net income 4,459.0
Total liabilities 15,534.0

1. Working capital. $445 millions
2. Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 1.15
3. Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) 54 %
4. Times interest earned. (Round to 2 decimal places, e.g. 6.25.) 14.61 times

Suppose the notes to McDonalds financial statements show that subsequent to 2017 the company will have future minimum lease payments under operating leases of $17,665.0 million. If these assets had been purchased with debt, assets and liabilities would rise by approximately $9,185 million. Recompute the debt to assets ratio after adjusting for this. (Round answer to 0 decimal places, e.g. 62%.)

Debt to assets ratio Type your answer here

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