1. What is the ROE (%) for 2012?

Note: Just enter the numbers making up the percentage (%) of your answer. e.g. 78 (not 78% or 77.5)

2. What is the EPS for 2012?

Note: Just enter the numbers making up your answer to two decimal places. e.g. 9.12 or 12.03

3. What is the Interest Coverage Ratio for 2012?

Note: Just enter the numbers making up your answer to two decimal places. e.g. 9.12 or 12.03

4. What is the Receivables Turnover for 2012?

Note: Just enter the numbers making up your answer to two decimal places. e.g. 9.12 or 12.03 or 4.10

5. What is the Cash Ratio for 2012?

Note: Just enter the numbers making up your answer to two decimal places. e.g. 9.12 or 12.03 or 0.09

6. Consider the following investment proposal for a 6-year project.

The investment has an upfront cost of $1,500,000.

The proposal is expected to generate cash inflows for 6 years according to the following schedule: Year 1: $750,000; Year 2: $1,500,000; Year 3: $2,000,000; Year 4: $1,250,000; Year 5: $1,000,000; Year 6: $500,000.

Each year of operation you must also pay the cost of labour attached to the project a cash outflow of $750,000 per year.

You have estimated that the appropriate discount rate for the project is 11% per annum.

Which of the following is closest to the calculated NPV of the project:

Statement of Profit and Loss Profitability Ratios 2012 Gross Margin Operating Margin Net Profit Margin ROE ROA 2013 41% 19% 12% 60% 12% (millions, except per share data) Net Sales Cost of goods sold Selling, general and administrative expense Operating Profit Interest expense Other income (expense.net Income before income taxes Income taxes Net Income 2012 $ 14,197 8,763 3,872 1,562 261 24 1,325 364 961 2011 $ 13,198 8,046 3,725 1,427 233 (10) 1,184 318 866 Profitability Ratios 2 2012 EPS P/E P 2013 4.98 11.65 57.98 Balance Sheet Leverage Measures 2012 D/E D/A ICR 2013 3.29 0.77 12.09 (millions, except per share data) Cash and cash equivalents Accounts receivable Inventories Other current assets Total Current Assets Property Goodwill Other Intangibles Other Assets Total Non-Current Assets Total Assets 2012 $ 281 1,454 1,365 280 3,380 3,782 5,053 2,359 2011 $ 460 1,188 1,174 247 3,069 3,281 3,623 1,454 516 8,874 11,943 Efficiency Measures 2012 2013 0.96 10.28 36 6.65 55 610 Total Asset Turnover Receivables Turnover Average Collection Period Inventory Turnover Days in Inventory Liquidity Measures 11,804 15,184 2012 Current maturities of long-term debt Accounts payable Total Current Liabilities Long-term debt Other Liabilities Total Non-Current Liabilities Total Liabilities Total Equity $3,121 1,402 4,523 6,082 2,099 8,181 12,704 $ 2,124 1,189 3,313 5,037 1,795 6,832 10,145 Current Ratio Quick Ratio Cash Ratio 2013 0.85 0.53 0.07 $ 2,480 $ 1,798 Other Information 362 Average Basic Shares Outstanding Share Price Note: In 2013 Kellogg's Share price was $57.98 358 56.52