Caso.xlsx - New Heritage Doll Company Capital Budgeting...

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New Heritage Doll Company: Capital Budgeting Exhibit 1 2010 2011 2012 2013 Revenue 4,500 6,860 8,409 Revenue Growth 52.4% 22.6% Production Costs Fixed Production Expense (excl depreciation) 575 575 587 Variable Production Costs 2,035 3,404 4,291 Depreciation 152 152 152 Total Production Costs 0 2,762 4,131 5,029 Selling, General & Administrative 1,250 1,155 1,735 2,102 Total Operating Expenses 1,250 3,917 5,866 7,132 Operating Profit (1,250) 583 994 1,277 Working Capital Assumptions: Minimum Cash Balance as % of Sales 3.0% 3.0% 3.0% Days Sales Outstanding 59.2x 59.2x 59.2x Inventory Turnover (prod. cost/ending inv.) 7.7x 8.3x 12.7x Days Payable Outstanding (based on tot. op. exp.) 30.8x 30.9x 31.0x Capital Expenditures 1,470 952 152 152 networking capital cash 135 206 252 cuentas por cobrar 729 1,112 1,363 inventario 360 500 396 cuentas por pagar 317.291507 483.716219 592.953679 NW 800 907 1,334 1,418 DELTA NW 800 107 427 84 FLUJO DE EFECTIVO NETO Operating Profit (1,250) 583 994 1,277 Tax -500 233.12 397.6 510.92 NOPAT (750) 350 596 766 Depreciation 0 152 152 152 DELTA NW -800 (107) (427) (84) Capital Expenditures (1,470) (952) (152) (152) CFAT (3,020) (557) 169 682 Terminal Value 3% MARR 8.40% (3,020) (557) 169 682 TIR 24% VNA 7,150 Selected Operating Projections for Match My Doll Clothing Line Expa
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2014 2015 2016 2017 2018 2019 2020 9,082 9,808 10,593 11,440 12,355 13,344 14,411 8.0% 8.0% 8.0% 8.0% 8.0% 8.0%
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  • Fall '15
  • Economics, Harvard, Expense, 175, operating profit

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