Question: Access the February 26, 2010, filing of the December 31, 2009, annual 10-K report of McDonald's Corporation (Ticker: MCD), which is available from www.sec.gov.
Required: 1. Identify the current liabilities on McDonald's balance sheet as of December 31, 2009.
2. What portion (in percent) of McDonald's long-term debt matures within the next 12 months?
3. Use the consolidated statement of income for the year ended December 31, 2009, to compute McDonald's times interest earned ratio. Comment on the result. Assume an industry average of 12.0.