1. What is Crown Bakery EBITDA for 2019, 2020 and 2021? Please look at the slides and remember the rule about one-time, non-recurring expenses.

2. What is Debt/EBITDA for Crown Bakery for 2019, 2020 and 2021? Use funded debt only. Funded debt is defined as Borrower money only.

3. What is adjusted debt (with lease liability) for Crown Bakery for 2019, 2020 and 2021?

4. What is Adjusted Debt/Lease Adjusted EBITDA (this should include rent/lease expense as discussed in class) for Crown Bakery for 2019, 2020 and 2021?

5. What is Crown Bakery Days Inventory Outstanding for 2019, 2020 and 2021?

6. What is Crown Bakery Days Receivable Outstanding for 2019, 2020 and 2021?

7. What is Crown Bakery Days Payable for 2019, 2020 and 2021?

8. What is Crown Bakery cash cycle for 2019, 2020 and 2021?

9. Based on this, does Crown Bakery have to seek financing because of its working capital needs?

10. what is Crown Bakery FCF for 2021, including share repurchases?

11. What is Crown Bakerys liquidity for 2021? (for the purposes of this question, 2021 Short term lease liabilities are not debt)/ Crown Bakery had $80 million available under the credit facility at YE 2021.

Balance Sheet Balance Sheet as of: Cash Flow For the Fiscal Period Ending Income Statement For the Fiscal Period Ending Balance Sheet Balance Sheet as of: Cash Flow For the Fiscal Period Ending Income Statement For the Fiscal Period Ending