Kramerica Industries (KI) Kramerica Industries (KI) 2007 Income Statement (all numbers in millions) 2006 and 2007 Balance Sheets (all numbers in millions) Sales 1563.7 2006 2007 2006 2007 Cost of goods sold 1081.1 Cash 46.5 309.8 Accounts payable 346 377.8 Selling & administrative expenses 231.1 Accounts receivable 268.8 306.2 Long-term debt 305.6 574 Depreciation 83.1 Inventory 372.7 423.8 Common stock 892.9 869.6 Earnings before interest and taxes Net fixed assets 805.8 849.4 Retained earnings -50.7 67.8 Interest expense 5.6 Earnings before taxes Total assets Total liabilities and equity ? Taxes 44.3 Net income Dividends .V Additions to retained earnings