McDonalds 1999 to 2000 Income Taxes Paid Reconciliation

McDonalds 1999 to 2000 Income Taxes Paid Reconciliation -...

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CALCULATION OF ACTUAL INCOME TAXES PAID McDonald's Corporation FYE 2000 ($ Millions) INCOME STATEMENT BALANCE SHEET 1999 2000 Sales 14,244 Liabilities Cost of Goods Sold -8,622 Accounts Payable 586 6,885 Gross Profits 5,622 Accrued Expenses 1,069 1,046 Marketing, General and Administrative 1,898 Taxes Payable 100 125 +25 Depreciation 395 Interest Payable 75 45 Total Operating Expenses -2,293 Short-Term Notes Payable 1,520 505 Operating Profits (EBIT) 3,329 Total Current Assets 3,350 8,606 Interest Expense
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Unformatted text preview: -446 Long-Term Notes Payable 7,269 9,373 Earnings Before Taxes (EBT) 2,883 Total Liabilities 10,619 17,979 Income Taxes-905 (1) Net Profit 1,978 Preferred Dividends Common Stock Dividends-664 Change in Retained Earnings 1,314 Cash Taxes Payable 880 (2) (2) 880 100 Beginning Balance 905 (1) 125 Ending Balance Income Tax Expense Income Taxes Accrued-905 (1) 905 Increase in Taxes Payable 25 Actual Income Taxes Paid-880...
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This note was uploaded on 08/22/2009 for the course FIN 3310 taught by Professor Potts during the Spring '08 term at Baylor.

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