Projected Projected Projected Projected Projected INCOME STATEMENT 20X1 20X2

Projected projected projected projected projected

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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 518 474 415 341 300 260 220 Pretax Income 3,105 3,949 4,252 4,793 5,347 5,952 6,613 Income Tax Expense 1,087 1,382 1,488 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 3,273 3,600 3,960 4,356 4,792 Amortization 0 0 0 0 0 0 0 EBITDA 6,271 7,404 7,940 8,734 9,607 10,568 11,625 BALANCE SHEET 20X1 20X2 20X3 20X4 20X5 20X6 20X7 Current Assets Cash 1,773 2,000 2,000 3,325 4,816 6,501 8,449 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 19,593 22,492 25,715 29,306 33,348 0 0 Fixed Assets PP&E, Net of Accum. Depreciation 10,913 10,932 11,159 11,559 12,099 12,743 13,451 0 0 TOTAL ASSETS 25,692 29,333 30,752 34,051 37,814 42,049 46,800 0 0 Current Liabilities Accounts Payable 5,665 6,656 7,155 7,870 8,657 9,523 10,475 Line of Credit 792 1,375 32 0 0 0 0 Current Maturities of Long Term Debt 500 500 500 500 500 500 500 Total Current Liabilities 6,957 8,531 7,687 8,370 9,157 10,023 10,975 500 500 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 11,687 11,870 12,157 12,523 12,975 Common Stock 15 15 15 15 15 15 15
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