The following information was reported from the statement of cash flows for Landlover's Restaurants for the years 2017 through 2019 (in millions of dollars):
A.Calculate the quality of income ratio for the years 2017 through 2019.Round your answers to two decimals
places.
B.Interpret the quality of income ratio for Landlover's for the three-year period.
Definitions:
Financial Accounting
Financial accounting refers to the process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. These transactions are summarized in the preparation of financial statements, including the balance sheet, income statement, and cash flow statement, that record the company's operating performance over a specific period.
Financial Management
The strategic planning, organizing, directing, and controlling of financial undertakings in an organization or an institute.
Share Outstanding
The total number of shares of a corporation's stock that are currently owned by all shareholders, including share blocks held by institutional investors and restricted shares.
Current Value
The present worth or market price of an asset or investment.
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