SKI RESORT INVESTMENT DECISION

CONSTANTS $2019202020212022202320242025$

TAX RATE NA $0\mathrm{.}200\mathrm{.}200\mathrm{.}200\mathrm{.}200\mathrm{.}200\mathrm{.}20$

CASH NEEDED TO START NEXT YEAR NA $4,000,0004,000,0004,000,0004,000,0004,000,0004,000,000$

INTEREST RATE ON DEBT NA $0\mathrm{.}030\mathrm{.}030\mathrm{.}030\mathrm{.}030\mathrm{.}030\mathrm{.}03$

DAILY LIFT TICKET PRICE NA $$100$ $$100$ $$100$ $$100$ $$100$ $$100$

ANNUAL LIFT TICKET PRICE NA $$700$ $$700$ $$700$ $$700$ $$700$ $$700$

AVERAGE DAILY MONEY SPENT ON FOOD NA $$25$ $$25$ $$25$ $$25$ $$25$ $$25$

AVERAGE SKI SCHOOL DAILY PRICE NA $$45$ $$45$ $$45$ $$45$ $$45$ $$45$

AVERAGE DAILY RENTAL PRICE NA $$25$ $$27$ $$30$ $$30$ $$35$ $$40$

NUMBER OF SKI DAYS PER YEAR $100100100100100100$

OTHER DAILY REVENUE NA $$15$ $$15$ $$15$ $$15$ $$15$ $$15$

SUMMER POTENTIAL REVENUE $$-$ $$1,000,000$ $$1,000,000$ $$1,000,000$ $$1,200,000$ $$1,200,000$

OPERATING COSTS $-$ SNOW MAKING $2,000,0001,800,0001,800,0001,800,0001,700,0001,600,000$

OPERATING COSTS $-$ SUMMER $$350,000$ $$350,000$ $$400,000$ $$400,000$ $$400,000$ $$450,000$

DAILY OTHER WINTER OPERATING COSTS $15,00015,00015,00015,00015,00015,000$

FIXED COSTS $50,000,00050,000,00050,000,00050,000,00050,000,00050,000,000$

INPUTS ALL YRS $202020212022202320242025$

RATE OF CHANGE IN SKIERS NA NA NA NA NA NA

ECONOMIC OUTLOOK $($Good$,$ Poor$)$ NA NA NA NA NA NA

CLIMATE CHANGE FACTOR NA

SUMMER OPERATIONS $($Y OR N$)$ NA

SUMMARY OF KEY RESULTS

NET INCOME AFTER TAXES $-2025$

END$-$OF$-$THE$-$YEAR CASH ON HAND $-2025$

END$-$OF$-$THE$-$YEAR DEBT OWED $-2025$

PROFIT MARGIN $-2025$

CALCULATIONS $2019202020212022202320242025$

NUMBER OF DAILY SKIERS $3000$

NUMBER OF SEASON SKIERS $500$

YEARLY TOTAL SKIER REVENUE

DAILY SKI SCHOOL ATTENDEES

YEARLY SKI SCHOOL REVENUE

DAILY EQUIPMENT RENTAL USERS

YEARLY RENTAL REVENUE

YEARLY FOOD CONCESSION REVENUE

OTHER YEARLY REVENUE

"INCOME STATEMENT AND

CASH FLOW STATEMENT" $2019202020212022202320242025$

BEGINNING$-$OF$-$THE$-$YEAR CASH ON HAND NA

REVENUE $-$ SKIERS NA

REVENUE $-$ SKI SCHOOL NA

REVENUE $-$ EQUIPMENT RENTAL NA

REVENUE $-$ FOOD CONCESSION NA

REVENUE $-$ OTHER NA

REVENUE $-$ POTENTIAL SUMMER NA

TOTAL REVENUE NA

OPERATING COSTS $-$ SNOW MAKING NA

SUMMER OPERATING COSTS NA

YEARLY WINTER OPERATING COSTS NA

FIXED COSTS NA

TOTAL COSTS NA

INCOME BEFORE INTEREST AND TAXES NA

INTEREST EXPENSE NA

INCOME BEFORE TAXES NA

INCOME TAX EXPENSE NA

NET INCOME AFTER TAXES NA

$2019202020212022202320242025$

"NET CASH POSITION $($NCP$)$ BEFORE

BORROWING AND REPAYMENT OF DEBT

$($BEG OF YR CASH $+$ NET INCOME$)"$ NA

ADD:BORROWING FROM BANK NA

LESS: REPAYMENT TO BANK NA

EQUALS: END$-$OF$-$YEAR CASH ON HAND $4000000$

DEBT OWED $2019202020212022202320242025$

BEGINNING$-$OF$-$YEAR DEBT OWED NA

ADD: BORROWING FROM BANK NA

LESS: REPAYMENT TO BANK NA

EQUALS: END$-$OF$-$THE$-$YEAR DEBT OWED $2000000$