Interest Expense 518 474 414 340 300 260 220 Pretax Income 3105 3949 4253 4794

Interest expense 518 474 414 340 300 260 220 pretax

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Interest Expense 518 474 414 340 300 260 220 Pretax Income 3,105 3,949 4,253 4,794 5,347 5,952 6,613 Income Tax Expense 1,087 1,382 1,489 1,678 1,872 2,083 2,315 Tax Rate NM NM 35.0% 35.0% 35.0% 35.0% 35.0% Net Income 2,018 2,567 2,764 3,116 3,476 3,869 4,299 Operating Income (EBIT) 3,623 4,423 4,667 5,134 5,647 6,212 6,833 Depreciation 2,648 2,981 Amortization 0 0 0 0 0 0 0 EBITDA 6,271 7,404 4,667 5,134 5,647 6,212 6,833 BALANCE SHEET 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Current Assets Cash 1,773 2,000 2,196 3,953 5,984 8,313 10,969 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 14,779 18,401 19,789 23,120 26,883 31,118 35,869 Fixed Assets PP&E, Net of Accum. Depreciation 10,913 10,932 TOTAL ASSETS 25,692 29,333 19,789 23,120 26,883 31,118 35,869 Current Liabilities Accounts Payable 5,665 6,656 7,155 7,870 8,657 9,523 10,475 Line of Credit 792 1,375 0 0 0 0 0 Current Maturities of Long Term Debt 500 500 500 500 500 500 500 Total Current Liabilities 6,957 8,531 7,655 8,370 9,157 10,023 10,975 Long Term Liabilities Long Term Debt, Net of Current Maturities 5,000 4,500 4,000 3,500 3,000 2,500 2,000 TOTAL LIABILITIES 11,957 13,031 11,655 11,870 12,157 12,523 12,975 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 8,720 11,287 14,051 17,167 20,643 24,512 28,810 TOTAL EQUITY 13,735 16,302 19,066 22,182 25,658 29,527 33,825 TOTAL LIABILITIES & EQUITY 25,692 29,333 30,721 34,052 37,815 42,050 46,801 Check 0.0 0.0 (10,932.0) (10,932.0) (10,932.0) (10,932.0) (10,932.0) 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 2,764 3,116 3,476 3,869 4,299 Add Back Non-Cash Items Depreciation 0 0 0 0 0 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 2,071 2,257 2,531 2,830 3,155 CASH FLOW FROM INVESTING ACTIVITIES Capital Expenditures - Purchase of PP&E Net Cash Used in Investing Activities 0 0 0 0 0 CASH FLOW FROM FINANCING ACTIVITIES Revolving Credit Facility (Line of Credit) (1,375) 0 0 0 0 Long Term Debt (500) (500) (500) (500) (500) Net Cash Provided by (Used in) Fnce Activities (1,875) (500) (500) (500) (500) Net Cash Flow 196 1,757 2,031 2,330 2,655 Beginning Cash Balance 2,000 2,196 3,953 5,984 8,313 Ending Cash Balance 2,196 3,953 5,984 8,313 10,969 Supporting Schedules Company Name (000s) DEBT SCHEDULE 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Cash Balance @ Beg of Year (End of Last Year) 2,000 2,196 3,953 5,984 8,313 Plus: Free Cash Flow from Operations and Investing 2,071 2,257 2,531 2,830 3,155 Plus: Free Cash Flow from Financing (BEFORE L.O.C.) (500) (500) (500) (500) (500) Less: Minimum Cash Balance 2,000 2,000 2,000 2,000 2,000 Total Cash Available or (Required) from L.O.C. 1,571 1,953 3,984 6,313 8,969 Line of Credit 792 1,375 0 0 0 0 0 Debt Long Term Debt, Net of Current Maturities 5,000 4,500 4,000 3,500 3,000 2,500 2,000 Current Portion of Long Term Debt 500 500 500 500 500 500 500 Interest Expense Interest Rate on Long Term Debt 8.0% 8.0% 8.0% 8.0% 8.0% Interest Rate on Line of Credit 5.0% 5.0% 5.0% 5.0% 5.0% Interest Expense on Long Term Debt 380 340 300 260 220 Interest Expense on Line of Credit 34 0 0 0 0 Total Interest Expense 414 340 300 260 220 PP&E SCHEDULE 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Beg: PP&E, Net of Accum. Depreciation Plus: Capital Expenditures Less: Depreciation Used To Project Depreciation as % of Revenues End: PP&E, Net of Accum. Depreciation
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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%
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