1993 1994 1995 Notes-96 Multipli er 1996 Notes-97 Multipli er 1997
INCOME STATEMENT
Net Sales Cost of Sales Gross Profit 16230 9430 6800 20355 11898 8457 staff projected 20% 23505 incr 58.1% 93, 58.5% 94, 13612 57.9% 95 9893 maintain same relationship to sales; 32% 93, 31.2% 94, 7471 31.8% 95 but "no depreciation on new expansion in 96 and expense on other assets should 213 remain the same % of S/T (Maturities of L/T) & L/T debt; 10.5% 93, 10.6% 94, 10.4% 94 95 2115 Rate (% of pre-tax income): 41% 93, 48.5% 94, 43.7% 95 925 (Avergage = 44.4%) 1190 1.2 0.58 28206 16359 11847 1.2 0.58 33847 19631 14216
SG& A Exp
5195
6352
0.32
9026
0.32
10831
Depreciation Exp
160
180
5% depr. Of the warehouse …show more content…
Of the warehouse total cost 1941 (120K)+ 213
=1941+ 333
2274
Net Plant & Equipment Total Assets
1897 6580
2280 7822
2435 8983
4222 11065
4289 13705
LIABILITIES
Using the established line of credit, that had not yet been used, 0 this as of '95, 7 years remain of annual installments to 125 MidBank for '91 loan A/P in relationship to sales: 6.4% in 93, 6.5% in 94, 6.1% in 95 (Avg 1440 6.33%) 0.0633 Accr Exp as % sales (7.06% in 93, 7.04% in 1653 94, 7.03% in 95) 0.0704 3218 Using the established line of credit, that had 398 not yet been used
Additional New Funding
0
0
1075
Current Maturities L/T Debt
125
125
125
125
Accounts Payable …show more content…
1986 4294
0.0704
2383 5725
L/T Debt
1000
875
1st installment of the bank loan is not due until 1yr after the completion which is 1998 (do not include =(750125) 750 the $2M)
625
L/T Debt 96 - 125
500
Common Stock Retained Earnings Total Sharholders Equity Total Liabilities
1135 2133 3268 6580
1135 2930 4065 7822
asume will remain the same, since took loan for new cap 1135 expenditures Net Income minus 3880 dividends = 5015 8983
1135 1131 Net Income 5011 Divendends= 6146 11065 1334
1135 6345 7480 13705
FORGOT TO ADD NEW DEBT INTEREST EXPENSE LINE TO INCOME STATEMENT - should add new line item "New Debt Expense" at 10% which is what I paid on the other loans
USE SOLVER TO BALANCE - see prof excel
could use turnover average ratio A/R to Avg Sales - look at Prof excel for example inventory as % of sales is not usually the case; should typicall use inventory turnover ratio (inv/COGS)
FORGOT TO ADD NEW DEBT INTEREST EXPENSE LINE TO INCOME STATEMENT
Also need to add a new maturities lone for the loan balance that we expect to pay in 98 A/P as % of sales is not usually the case it should be related to inventory purchases; should typicall use COGS ( 1st inventory turnover ratio then A/P