Kramerica Industries (KI) 2015 Income Statement
Sales	$422,045
Cost of goods sold	291,090
Depreciation	37,053
Earnings before interest and taxes	$93,902
Interest expense	16,400
Earnings before taxes	$77,502
Taxes	27,126
Net income	$50,376
Dividends
Additions to retained earnings

Kramerica Industries (KI)
2014 and 2015 Balance Sheets
	2014	2015		2014	2015
Cash	$26,450	$29,106	Accounts payable	$61,722	$69,426
Accounts receivable	13,693	18,282	Long-term debt	95,000	110,000
Inventory	27,931	32,586	Common stock	45,000	45,000
Net fixed assets	357,165	398,345	Retained earnings	223,517	253,893
Total assets	$425,239	$478,319	Total liabilities and equity	$425,239	$478,319

KI's sustainable growth rate is _____.

	a.	11.31%
	b.	4.26%
	c.	15.28%
	d.	3.87%

KI's total debt ratio in 2015 is _____.

	a.	50.45%
	b.	37.51%
	c.	55.07%
	d.	32.98%

KI's times interest earned ratio is _____.

	a.	9.43%
	b.	5.73
	c.	5.73%
	d.	9.43

KI's operating cycle is _____.

	a.	224.99 days
	b.	56.67 days
	c.	73.82 days
	d.	163.66 days

KI's cash cycle is _____.

	a.	-30.38 days
	b.	3.44 days
	c.	69.37 days
	d.	92.03 days