DCF - Integrated Financial Statements Company Name(000s INCOME STATEMENT Historical Historical Projected Projected Projected Projected Projected 20X1

DCF - Integrated Financial Statements Company Name(000s...

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Integrated Financial Statements Company Name (000s) Historical Historical Projected Projected Projected Projected Projected INCOME STATEMENT 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Revenue 74,452 83,492 91,841 101,025 111,128 122,241 134,465 Growth (%) NA 12.1% 10.0% 10.0% 10.0% 10.0% 10.0% Cost of Goods Sold 64,440 72,524 79,634 87,597 96,357 105,992 116,592 % of Sales 86.6% 86.9% 86.7% 86.7% 86.7% 86.7% 86.7% Gross Profit 10,012 10,968 12,208 13,428 14,771 16,248 17,873 % of Sales 13.4% 13.1% 13.3% 13.3% 13.3% 13.3% 13.3% Operating Expenses (SG&A) 6,389 6,545 7,540 8,294 9,124 10,036 11,040 % of Sales 8.6% 7.8% 8.2% 8.2% 8.2% 8.2% 8.2% Operating Income (EBIT) 3,623 4,423 4,667 5,134 5,647 6,212 6,833 Interest Expense 1,600 1,600 800 800 800 800 800 Pretax Income 2,023 2,823 3,867 4,334 4,847 5,412 6,033 Income Tax Expense 708 988 1,354 1,517 1,697 1,894 2,112 Tax Rate NM NM 35.0% 35.0% 35.0% 35.0% 35.0% Net Income 1,315 1,835 2,514 2,817 3,151 3,518 3,922 Operating Income (EBIT) 3,623 4,423 4,667 5,134 5,647 6,212 6,833 Depreciation 662 745 818 900 990 1,089 1,198 Amortization 0 0 0 0 0 0 0 EBITDA 4,285 5,168 5,485 6,034 6,637 7,301 8,031 BALANCE SHEET 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Current Assets Cash 6,773 7,000 8,739 10,622 12,768 15,210 17,987 Accounts Receivable 7,750 8,852 9,649 10,614 11,675 12,842 14,127 Inventory 4,800 5,700 6,095 6,705 7,375 8,113 8,924 Prepaid Expenses 456 1,849 1,849 1,849 1,849 1,849 1,849 Total Current Assets 19,779 23,401 26,331 29,789 33,667 38,014 42,886 Fixed Assets PP&E, Net of Accum. Depreciation 5,457 5,466 5,548 5,623 5,683 5,719 5,721 TOTAL ASSETS 25,236 28,867 31,879 35,412 39,350 43,733 48,607 Current Liabilities Accounts Payable 5,665 6,656 7,155 7,870 8,657 9,523 10,475 Line of Credit 0 0 0 0 0 0 0 Current Maturities of Long Term Debt 0 0 0 0 0 0 0 Total Current Liabilities 5,665 6,656 7,155 7,870 8,657 9,523 10,475 Long Term Liabilities Long Term Debt, Net of Current Maturities 10,000 10,000 10,000 10,000 10,000 10,000 10,000 TOTAL LIABILITIES 15,665 16,656 17,155 17,870 18,657 19,523 20,475 Common Stock 15 15 15 15 15 15 15 Additional Paid In Capital 5,000 5,000 5,000 5,000 5,000 5,000 5,000 Retained Earnings 4,556 7,196 9,710 12,527 15,678 19,195 23,117 TOTAL EQUITY 9,571 12,211 14,725 17,542 20,693 24,210 28,132 TOTAL LIABILITIES & EQUITY 25,236 28,867 31,879 35,412 39,350 43,733 48,607 Check 0.0 0.0 0.0 0.0 0.0 0.0 0.0 BALANCE SHEET ASSUMPTIONS AR Days 38 39 38 38 38 38 38 Inventory Days 27 29 28 28 28 28 28 AP Days 32 33 33 33 33 33 33 CASH FLOW STATEMENT 20X1 20X2 20X3 20X4 20X5 20X6 20X7 CASH FLOW FROM OPERATING ACTIVITIES Net Income 2,514 2,817 3,151 3,518 3,922 Add Back Non-Cash Items Depreciation 818 900 990 1,089 1,198 Amortization 0 0 0 0 0 Changes in Working Capital Accounts Receivable (797) (965) (1,061) (1,167) (1,284) Inventory (395) (610) (670) (738) (811) Accounts Payable 499 715 787 866 952 Net Cash Provided by Operating Activities 2,639 2,858 3,196 3,568 3,976 CASH FLOW FROM INVESTING ACTIVITIES Capital Expenditures - Purchase of PP&E (900) (975) (1,050) (1,125) (1,200) Net Cash Used in Investing Activities (900) (975) (1,050) (1,125) (1,200) CASH FLOW FROM FINANCING ACTIVITIES Revolving Credit Facility (Line of Credit) 0 0 0 0 0 Long Term Debt 0 0 0 0 0 Net Cash Provided by (Used in) Fnce Activities 0 0 0 0 0 Net Cash Flow 1,739 1,883 2,146 2,443 2,776 Beginning Cash Balance 7,000 8,739 10,622 12,768 15,210 Ending Cash Balance 8,739 10,622 12,768 15,210 17,987 Supporting Schedules Company Name (000s) DEBT SCHEDULE
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