ACTIVITY 1 The first activity is to evaluate Grady's financial statements over five years and calculate values for each key financial indicator (KFI) for each year. Use the financial statements shown in Figure 6 and Figure 7 and the ratios and equations shown in Figure 8. Enter the calculated KFI values in the following table. Review the completed table. Identify any financial trends of concern. Figure 5. Grady Key Financial indicators and Percentages Resources - Case study narrative - Calculator - Figure 5-Grady Key Financial Indicators and Percentages - Figure 6-Grady's Income Statement, 2015-2019 (000) - Figure 7-Grady Construction Balance Sheet, 2015-2019 - Figure 8 -Key Financial Indicators, Balance Sheet Percentages, and Ratio and Percentage Equations APPENDIX Figure 6. Grady's income Statement, 2015-2019 (000) ASSETS Current Assets Non-Current Assets Property and Equipment LIABILITIES Current Liabilities Figure 7. Grady Construction Balance Sheet, 2015-2019 Ratio and Percentage Equations Current Ratio = Current Assets Current Liabilities Quick Ratio =( Cash + Accounts Receivables ) Current Liabilities Cost-in-Excess of Billings %=( Cost-in-Excess of Billings Total Assets )100 Days Receivable =365 (Revenue Account Receivables ) Days Inventory =365 (Cost of Revenue Inventory) Days Payable =365( Cost of Revenue Accounts Payable ) Debt-to-Equity Ratio = Total Liabilities Owner's Equity Return on Investment (ROI)%=( Net Profit Before Tax Owner's Equity )100 Working Capital = Current Assets - Current Liabilities Owner's Equity = Total Liabilities - Total Assets Figure 8. Key Financial Indicators, Balance Sheet Percentages, and Ratio and Percentage Equations