1) Go to the Toronto Stock Exchange website.

a) Look up the stock market quote for NFI Group Inc (Enter NFI in the search box at the top of the page.) Click on the Financials and Filings tab immediately below the search box. This will bring up the most recent income statement (make sure you are looking at the annual statement, not the quarterly statement). Calculate all of the Module 2 ratios (the full list can be found at the end of the Module 2 document) for all years from 2016 to 2020 and present your results in table format. Complete all calculations in Excel (you can download the financial statements as a .csv file which you can open in Excel and then save as an Excel file). Assume their tax rate is 25%. 10 marks Note that some of the terminology is different than what we use in the course: Total Revenue = Sales, Cost of Revenue = Cost of Sales, Cash Cash Equivalents and Short term investments = Cash + Marketable Securities. Important: For Accounts Payable, please use the Balance sheet item listed as payables and accrued expenses. For total debt, please calculate the sum of the balance sheet items current debt and long term debt (and note that you will have to fill in some 0 values for current debt). Do not use the items current debt and capital lease obligations, or long term debt and capital lease obligations.

b) Explain whether you think NFI Groups financial health is improving or worsening, based on the changes to the above ratios from 2016-2020. Comment on any particular ratios or changes that you believe are significant. 5 marks

c) Examine NFI Groups Statement of Cash Flows from 2016-2020, describe what you believe is significant, and explain try to explain what led to these significant items. Also explain whether you believe NFI Groups financial health is improving or worsening, based on its cash flow statements. 5 marks

Calculation instructions: You must show your calculations to receive maximum marks for a question. Adopt a consistent approach to rounding in your calculations. The general guidelines are: Round all currency numbers to two decimals. For $ million, you may omit decimals. For example, $18,824.68 542 = $10,202,976.56. You may round this to $10,202,977. If the unit is in thousands of dollars, calculate it as $18.82 (thousand) 542 = $10,200.44 (thousand). If you are asked to state the result of the multiplication in $ million, you would respond $10.20 million. Round all other numbers to a minimum of four decimal places. For example, if a share is trading at a price per share of $27.25 and has earnings per share of $3.89, then the stock has a price/earnings ratio of $27.25 $3.89 = 7.0051 and an earnings/price ratio of $3.89 $27.25 = 0.1428 or 14.28%.