Historical and Projected Financial Statements Years Ended December 31. Assume today Is December 31, 2019 1000) 2016 2017 2018 2019 2020 2021 (Actual)...
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What are the steps/formulas used to derive k-wacc using the following data?


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Historical and Projected Financial Statements
Years Ended December 31. Assume today Is December 31, 2019
1000)
2016
2017
2018
2019
2020
2021
(Actual)
(Actual)
(Actual)
(Projected) (Projected)
71,924
80,115
92 613
105,042
110.284
Production costs and experises
38,393
53,445
57,348
Admin. and selling expenses
7,787
21,301
24,633
25.365
26,38
8.076
9025
10 392
11 360
19 160
Total operating expenses
58 512
78 185
89 43
Operating profit
14,907
14 423
16.604
11.808
3,487
3.979
6 227
7,614
8,227
8.957
Earnings before taxes
9.925
10 978
8.201
8,980
6,289
2,841
noome taxes
2 430
DEF Z
2430
2,430
2,430
2 430
Jet earnings
7,495
6,27
6,770
4,748
2,145
Dividends to all common shares
2,000
2,000
2000
2,000
2 000
2000
Retentions of earnings
5.495
6.273
4.276
4,770
2748
2016
2017
2018
2019
2020
2021
(Actual)
Cash
4,816
5.670
5.090
5,795
Accounts receivable
22,148
25,364
18,078
35 485
Inventories
Total current assets
50,261
58,696
gross property plant & equipt
4,611
80,153
115,153
Accumulated depreciation
4 559
13 587
23 979
35,339
35,339
35,339
Net property plant & equipt-
60 052
73 920
79 814
79 814
79 814
Total assets
110,317
125,262
160,916
184,87
79,814
79,814
Short term borrowings (bank]
35,462
391005
82 275
91,226
102,023
Accounts payable
12,315
12 80
11,890
13 370
65,925
74,598
105,976
116 95
102 023
ong tomm debt
10,000
10,000
18,200
18 200
18,200
Shareholders' equity
40.684
44.940
49,710
52 458
52,603 prev SE+RE
Total abilities & stockholders' equity
110.316
125,262
184,873
172,825
831 vs. B40
EFR
$2,070
93,011 Enter correct formula and calculate EFR
for 2020 and 2021
2016
2017
2018
2019
2020
2021
(Actual)
(Actual)
(Actual)
* change
(Projected) (Projected)
PROFITABILITY:
2016 2019
Operating margin
18 6%
186%
15 676
15.7%%
16 0%
13 29%
10 3%
ax rate
24 576
4 6%
0.9%
24.7%
Return on sales
10.4%
10 3%
38.7%
4 3%%
19%
Return on equity
21 806
103%
14 0%%
13.6%
37_59%
4.1%%
Return on assets
6.8%
6.6%
LEVERAGE:
Debt/equity ratio
111 8%
175 8%
78 296
208 6%
228 5%%
Debt/total capital
35 4%%
19 15
SEL 7%
BIT/interest
sales/assets
65 2%%
57.4%%
Sales growth rate
15 0%%
11 4%
15.6%
3.3%
4 06
4.0%%
Assets growth rate
112
111
172
120
days payable outstanding
133
122
91
31 5%
90
90
Days inventory outstanding
252
423
72 60
435
435
IQUIDITY:
unrent ratio
0.8
0.S
09
17 8%%
0.0
quick ratio
04
04
03

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