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Use the following financial statements to answer Questions 1 - 16. Kramerica Industries (KI) 2016...

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Finance

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Use the following financial statements to answer Questions 1 - 16. Kramerica Industries (KI) 2016 Income Statement Sales Cost of goods sold Selling & administrative expenses Depreciation Earnings before interest and taxes Interest expense Earnings before taxes Taxes Net income $678,240 328,830 149,680 65,491 23,155 38,879 Dividends Additions to retained earnings Kramerica Industries (KI) 2015 and 2016 Balance Sheets 2015 2016 Cash $15,979 $17,167 Accounts payable Accounts 16,553 19,318 Long-term debt receivable Inventory 22,798 27,305 Common stock Net fixed assets 413,311 494,573 Retained earnings 2015 $28,875 164,200 2016 $37,692 187,400 45,000 230,566 45,000 288,271 Total assets Total liabilities and equity KI's total debt ratio in 2016 is a. 40.31% b.50.45% C. 55.07% d. 32.98% QUESTION 14 KI's times interest earned ratio in 2016 is a. 5.80% b.9.43 C.5.80 d.9.43%

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