Busi. 408 Case, Cash Flows and Pro Formas

Busi. 408 Case, Cash Flows and Pro Formas - Income...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Exhibit TN1 Zippo Project Income Statement and Balance Sheet (Student Case) Income Statement Cash Flow Year 0 1 2 3 4 5 Year 0 1 2 3 4 5 Revenues 1,000 1,020 1,040 1,061 1,082 Initial (850) COGS (600) (612) (624) (637) (649) Operating - 24 274 279 283 288 Operating Expenses (50) (50) (50) (50) (50) Terminal - - - - - 591 Depreciation (160) (160) (160) (160) (160) Incremental CF (850) 24 274 279 283 879 Profit Before Tax 190 198 206 214 223 Taxes (76) (79) (82) (86) (89) Profit After Tax 114 119 124 129 134 Inputs + Depreciation 160 160 160 160 160 Gross Cash Flow 274 279 284 289 294 Sales Growth 2% -Inc / +Dec in NWC (250) (5) (5) (5) (5) COGS 60% - CAPEX (capital ex -850 - - - - - Tax Rate 40% Operating Cash Flow 24 274 279 283 288 NW Capital % 25% Balance Sheet Discounted CF (850) 21 207 183 162 437 NPV 160 Year 0 1 2 3 4 5 Assets Outputs NWC - 250 255 260 265 271 Buildings 800 640 480 320 160 - IRR % 20.43% Land 50 50 50 50 50 50 NPV @ 15% $160 Total Assets 850 940 785 630 475 321 New NPV @ 10.8% $314 Liabilities
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Exhibit TN1 Zippo Project Income Statement and Balance Sheet (Student Case)
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Income Statement Cash Flow Year 1 2 3 4 5 Year 1 2 3 4 5 Revenues 1,000 1,030 1,061 1,093 1,126 Initial (850) COGS (600) (618) (637) (656) (675) Operating- 74 275 282 290 298 Operating Expenses (50) (50) (50) (50) (50) Terminal- - - - - 545 Depreciation (160) (160) (160) (160) (160) Incremental CF (850) 74 275 282 290 843 Profit Before Tax 190 202 214 227 240 Taxes (76) (81) (86) (91) (96) Profit After Tax 114 121 129 136 144 Inputs + Depreciation 160 160 160 160 160 Gross Cash Flow 274 281 289 296 304 Sales Growth 3%-Inc / +Dec in NWC (200) (6) (6) (6) (7) COGS 60%- CAPEX- - - - - Tax Rate 40% Operating Cash Flow 74 275 282 290 298 NW Capital % 20% Balance Sheet Discounted CF (850) 64 208 186 166 419 NPV 193 Year 1 2 3 4 5 Assets Outputs NWC- 200 206 212 219 225 Buildings 800 640 480 320 160 - IRR % 21.74% Land 50 50 50 50 50 50 NPV @ 15% $193 Total Assets 850 890 736 582 429 275 Liabilities...
View Full Document

This note was uploaded on 06/07/2011 for the course BUSI 408 taught by Professor Croce during the Spring '08 term at UNC.

Page1 / 2

Busi. 408 Case, Cash Flows and Pro Formas - Income...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online