12. KI's return on equity is?

a. 20.72

b. 18.43

c. 16.85

d. 21.38

14. KI's total debt ratio in 2015 is?

a. 50.45%

b. 37.51%

c. 55.07%

d. 32.98%

15. KI's times interest earned ratio is ?

a. 9.43%

b. 9.43

c. 5.73

d. 5.73%

16. KI's opperating cycle is?

a. 163.66 days

b. 224.99 days

c. 56.67 days

d. 73.82 days

17. KI's cash cycle is ?

a. 3.44 days

b. 92.03 days

c. -30.38 days

d. 69.37 days

Use the following financial statements to answer Questions 1 - 17. 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 $50,375 Dividends Additions to retained earnings 2014 $26,450 13,693 Kramerica Industries (KI) 2014 and 2015 Balance Sheets 2015 $29.106 Accounts payable 18.282 Long-term debt 2014 $61,722 95,000 2015 $69,426 110,000 Cash Accounts receivable Inventory Not fixed assets 27,931 357185 32,586 Common stock 398,345 Retained earnings 45,000 223,517 45,000 2 63,893 $425,239 $478,319 Total assets $425,239 $478,319 Total liabilities and equity