Kramerica Industries (KI)
2021 Income Statement (all numbers in millions)
Sales	1563.7
Cost of goods sold	1081.1
Selling & administrative expenses	231.1
Depreciation	83.1
Earnings before interest and taxes	?
Interest expense	5.6
Earnings before taxes	?
Taxes	44.3
Net income	?
Dividends	?
Additions to retained earnings	?

	Kramerica Industries (KI)
	2020 and 2021 Balance Sheets (all numbers in millions)
		2020	2021		2020	2021
	Cash	46.5	309.8	Accounts payable	346	377.8
	Accounts receivable	268.8	306.2	Long-term debt	305.6	574
	Inventory	372.7	423.8	Common stock	892.9	869.6
	Net fixed assets	805.8	849.4	Retained earnings	-50.7	67.8
	Total assets	?	?	Total liabilities and equity	?	?

1. KI's net income for 2021 is _____.

a.$188.2 million

b.$162.8 million

c.$118.5 million

d.$149.3 million

2. KI's dividends for 2021 is _____.

a.$118.5 million

b.$50.7 million

c.$67.8 million

d.$0

3. KI's cash flow from assets from in 2021 is _____

a.	-$239.5 million
b	219.2 million
c	-476.1 million

4. KI's cash flow to stockholders in 2021 is _____.

	a.	-$39.4 million
	b.	$23.3 million
	c.	$19.5 million
	d.	-$43.1 million

5. KI's cash flow to creditors in 2021 is _____.

a.$423.4 million

b.$301.9 million

c.-$262.8 million

d.-$166.5 million

6. KI's internal growth rate in 2021 is _____.

a.7.34%

b.5.19%

c.11.53%

d.6.69%

7. KI's current ratio in 2021 is _____.

a.2.75

b.2.55

c.1.99

d.1.69

8. KI's profit margin in 2021 is _____.

a.7.58%

b.13.82%

c.10.65%

d.8.94%

9. KI's equity multiplier in 2021 is _____.

a.1.68

b.3.45

c.2.91

d.2.02

10. If KI has 54.57 million shares outstanding and the stock is sold for $48.61 per share at the end of 2021, its PE ratio is _____. a.86.01

b.22.39

c.50.86

d.39.12

11.KI's quick ratio in 2021 is _____.

a.1.32

b.0.78

c.1.63

d.0.97

12.KI's total asset turnover in 2021 is _____.

	a.	1.21
	b.	1.15
	c.	0.83
	d.	0.92

13.If KI has 54.57 million shares outstanding and the stock is sold for $48.61 per share at the end of 2021, its market-to-book ratio is _____.

a.8.58

b.10.41

c.2.83

d.17.62

14. KI's sustainable growth rate in 2021 is _____.

a.12.83%

b.20.94%

c.23.26%

d.14.47%

15.KI's total debt ratio in 2021 is _____.

	a.	55.07%
	b.	32.98%
	c.	40.31%
	d.	50.38%

16. KI's times interest earned ratio in 2021 is _____.

a.30.07%

b.30.07

c.5.80

d.5.80%

17. KI's operating cycle in 2021 is _____.

a.134.46 days

b.201.57 days

c.42.38 days

d.53.85 days

18. KI's cash cycle in 2021 is _____.

a.84.51 day

b.67.11 days

c.79.38 days

d.122.18 days