1 2 Income Statements 2019 Sales $3,432,000 COGS except depr. 2,864,000 Depreciation 18,900 Other Expenses 340.000 Total Operating Costs $3.222.000 EBIT $209,100 Interest Expense 62.500 $146,600 Taxes (40%) 58.640 Net Income $87.960 2020 $5,834,400 4,980,000 116,960 720.000 $5.816.960 $17,440 176,000 (5158,560) -63.424 (S05.136) 2021Expected $7,035,600 5,800,000 120,000 612.960 S6.532.960 S502.640 80,000 S422,640 169.056 5253.584 EBT 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Other Data Stock Price Shares Outstanding EPS DPS Tax Rate Book Value Per Share Lease Payments 2015 $8.50 100,000 S0.88 S0.22 40% S6.64 S40,000 2016 $6.00 100,000 (S0.95) SO.11 40% $5.58 S40.000 2017E $12.17 250.000 $1.01 S0.22 40% $7.91 $40,000