Attached at the bottom are financial statements from the 2016 Annual Report of Casey's General Store.

1. Calculate the company's working capital, current ratio, and acid?test ratio at April 30, 2016, and 2015. (3 points)

2016 2015

Working Capital
Current Ratio
Acid-Test Ratio

2. Based on the results of your analysis above, assess the company's overall liquidity position. Explain which ratios indicate particular strengths and/or weaknesses. Assume the following industry averages for 2016 and 2015 respectively: (3 points)

Current ratio = 1.1 and 1.1; Acid-test ratio = 0.6 and 0.5

3. Explain how working capital and the current ratio are related. Would you expect firms with large amounts of working capital to always have high current ratios? (4 points)

4. Calculate ROI for April 30, 2016, and 2015, round to 2 decimal places. (Total assets at 4/30/14 amounted to $2,304,876in thousands) (2 points)

2016	2015

5. Calculate ROE for April 30, 2016, and 2015,round to 2 decimal places.(Total stockholders equity at 4/30/14 amounted to $703,264in thousands) (2 points)

2016	2015

6. Calculate the price to earnings ratio for2016 and 2015,round to 1 decimal place. Market price per share was$112.00 at 4/30/16 and $82.18 at 4/30/15. (2 points)

2016	2015

7. Calculate the dividend yield ratios for 2016 and 2015,round to 2 decimal places.

(2 points)

2016	2015

8. Calculate the dividend payout ratios for 2016 and 2015round to 2 decimal places,. (2 points)

2016	2015

9. Calculate the gross profit ratios for 2016, 2015, and 2014. Round to 1 decimal place.

(2 points)

2016	2015	2014

10. Calculate the operating profit ratios 2016, 2015, and 2014. Round to 1 decimal place.

(2 points)

2016	2015	2014

11. Based on the results of your analysis above, assess the company's overall profitability and dividend policy. Explain which ratios indicate particular strengths and/or weaknesses within the company. Assume the following industry averages: (4 points)

2016 ROI=8.4%; ROE=19.7%; P/E ratio=19.0; Div Yield=0.7%; Gross Profit=24.4%; Operating Profit=5.7%

2015ROI=7.2%; ROE=20.6%; P/E ratio=18.2; Div Yield=0.8%; Gross Profit=21.2%; Operating Profit=4.8%

12. Calculate the debt ratio, at April 30, 2016, and 2015,round to 2 decimal places.(2 points)

2016	2015

13. Calculate the debt/equity ratio at April 30, 2016, and 2015,round to 2 decimal places.

(2 points)

2016	2015

14. Based on the results of your analysis above, assess the company's overall leverage position. Assume the following industry averages for both years: (4 points)

debt ratio = .59 and debt/equity ratio = .95 Defend your answer.

15. Calculate the inventory turnover and the number of days' sales in inventory (based on a 365-day year) for the year ended April 30, 2016, and 2015. (Total inventories at 4/30/14amounted to $204,833in thousands) (4 points)

	2016	2015
Turnover
Days

16. In your review of the consolidated statement of cash flows for April 30, 2016 only, what are the 3 major sources (excluding Net income and depreciation & amortization) of cash provided and 3 major uses by Casey General Stores.(3 points)

Overall assessment:

17. Assume that you have $1,000 that you would like to invest in the common stockofa company. Evaluate the common stock of Caseys General Store as a potential investment. From the data available on the attached financial statements, or items discussed in class, identify the three most important criteria that you would use to make your investment decision, and explain why each is important - defend your answer. (7 points)

r3 GENtam STORE. CONSOLIDATED STATEMENTS OF INCOME anthousands, except per share amounts) Yours ended April 30, 2016 2015 Total revenue S 122,086 7,767,216 7840,255 Cost of goods sold (exclusive ofdepreciation and amortization, shown below) 6,618,239 6,327.43 Gross profit IA39,785 1.222,016 operating expenses 960,424 857,297 Depreciation and amortization 170,937 156,111 131,160 Interest, net 40,173 41,225 39,915 Income before income taxes 706 282,025 193,644 Federal and state inoome taxes 122,724 101,397 66,824 Net income 225,982 S 80,628 26,820 Net income per common share 5.79 466 S 330 5.73 4.62 3.26 See accompanying Notes to Consolidated Financial Statements