1. For the Income Statement, please calculate all the ratios in the black box below Income Statement.

2. For the Balance Sheet, please calculate all the ratios in the black box below the Balance Sheet.

3. For the DCF (Discounted Cash Flow or Free Cash Flow) Analysis, please make your own assumptions based on all the ratios you calculated for Question 1 and 2 and input your assumed numbers in the ASSUMPTION box. Also, please explain the reason why you make such assumptions in the REASON box .

NOTE: #1 & #2 are already answered, #3 needs to be answered using data from #1 & #2

Good Thing Furniture Consolidated Income Statements 2013 2014 2015 2016 2017 2018 2019 2020 Year Ended May 31 (In millions except per share data) Revenues Cost of Goods Sold Gross profit Selling and administrative Operating income Depreciation Other expense, net Income before income taxes Income taxes Net income 158,217.9 164,986.9! 171,864.7 189,509.0 117,418.3 201,340.2 232,102.9 260,865.0 61,955.1 69,791.5 76,920.5 84,014.4 90,424.8 94,807.6 97,520.6 99,593.4 96,262.8 95,195.4 94,944.2 105,494.7 26,993.4 106,532.5 134,582.3 161,271.6 21,252.5 23,290.8 25,681.0 28,120.2 30,399.5 32,084.6 33,241.2 34,117.6 75,010.3 71,904.6 69,263.2 77,374.5 -3,406.1 74,447.9 101,341.1 127,153.9 1,450.1 1,084.2 1,372.7 1,959.0 2,631.4 2,559.2 2,177.9 1,827.8 27,474.6 31,045.1 34,099.5 37,010.1 39,875.7 41,648.0 43,119.1 44,499.9 46,085.6 39,775.2 33,791.0 38,405.4 -45,913.2 30,240.8 56,044.1 80,826.2 14434.25 15910.099 17516.404 19362.152 21634.709 24096.311 26417.623 28330.4932 31,651.4 23,865.1 16,274.6 19,043.2 -67,547.9 6,144.5 29,626.4 52,495.7 Revenue Growth Operating income Growth Net income Growth PLEASE CALCULATE THE FOLLOWING RATIOS FOR EACH YEAR Growth (%) NA 4.3% 4.2% 10.3% -38.0% 71.5% NA 4.1% -3.7% 11.7% -104.4% -2285.7% NA -24.6% -31.8% 17.0% 454.7% -109.1% 15.3% 36.1% 382.2% 12.4% 25.5% 77.2% Gross margin Operating margin Net margin 60.8% 47.4% 57.7% 43.6% Margins (%) SS.2% 40.3% 9.5% SS.7% 40.8% 10.0% 23.0% -2.9% -57.5% 52.9% 37.0% 3.1% 58.0% 43.7% 12.8% 61.8% 48.7% 20.1% 20.0% 14.5% COGS/Sales (%) S&A/Sales/%) 39.2% 13.4% 42.3% 14.1% 44.8% 14.9% 44.3% 14.8% 77.0% 25.9% 47.1% 15.9% 42.0% 14.3% 38.2% 13.1% Effective tax rate %* 31.3% 40.0% 51.8% 50.4% 47.1% 79.7% 47.1% 35.1% GoodThing Furniture Consolidated Balance Sheets 2014 2015 2016 2017 2018 2019 2020 As of (In millions) Assets Current Assets: Accounts receivable Inventories 2 Total current assets 47,200.0 33,343.0 80,542.9 52,455.8 56,924.2 62,640.9 71,443.5 73,954.2 77,441.3 36,614.2 39,990.8 43,042.2 45,128.4 46,419.8 47,406.5 89,069.9 96,915.0 105,683.1 116,571.9 120,374.0 124,847.8 Property, plant and equipment, net Total assets 3,920.1 84,463.0 5,202.6 7,155.3 9,310.3 7,440.0 5,202.8 94,272.5 104,070.3 114,993.4 124,012.0 125,576.9 3,641.4 128,489.2 5 Liabilities and shareholders' equity Current Liabilities: Accounts payable Accrued liabilities Total current liabilities 11,363.5 1,682.3 13,045.8 12,538.0 13,694.3 14,739.2 15,453.6 1,878.7 2,056.7 2,225.9 2,348.9 14,416.7 15,751.1 16,965.1 17,802.6 15,895.9 2,436.4 18,332.2 16,233.7 2,504.6 18,738.4 Debt 5 Equity Total liabilities and shareholders' 6,790.0 65,627.2 85,463.0 5,890.0 5,978.0 6,120.0 6,379.0 6,123.0 6,509.0 74,965.8 84,341.3 93,908.3 98,830.4 102,121.6 104,241.8 95,272.5 106,070.3 116,993.4 123,012.0 126,576.9 129,489.2 3 PLEASE CALCULATE THE FOLLOWING RATIOS FOR EACH YEAR Current assets/Sales (%) 48.8% 51.8% 51.1% 90.0% 57.9% Current liabilities/Sales (%) 7.9% 8.4% 8.3% 14.4% 8.8% 51.9% 7.9% 47.9% 7.2% Good Thing Furniture Discounted Free Cash Flow Analysis 2022 2026 2027 2028 2029 2030 2023 2024 2025 ASSUMPTIONS 2031 REASONS Revenue growth (%) COGS/Sales (%) S&A/Sales (%) Tax rate (%) Current assets/Sales (%) Current liabilities/Sales (%) Good Thing Furniture Consolidated Income Statements 2013 2014 2015 2016 2017 2018 2019 2020 Year Ended May 31 (In millions except per share data) Revenues Cost of Goods Sold Gross profit Selling and administrative Operating income Depreciation Other expense, net Income before income taxes Income taxes Net income 158,217.9 164,986.9! 171,864.7 189,509.0 117,418.3 201,340.2 232,102.9 260,865.0 61,955.1 69,791.5 76,920.5 84,014.4 90,424.8 94,807.6 97,520.6 99,593.4 96,262.8 95,195.4 94,944.2 105,494.7 26,993.4 106,532.5 134,582.3 161,271.6 21,252.5 23,290.8 25,681.0 28,120.2 30,399.5 32,084.6 33,241.2 34,117.6 75,010.3 71,904.6 69,263.2 77,374.5 -3,406.1 74,447.9 101,341.1 127,153.9 1,450.1 1,084.2 1,372.7 1,959.0 2,631.4 2,559.2 2,177.9 1,827.8 27,474.6 31,045.1 34,099.5 37,010.1 39,875.7 41,648.0 43,119.1 44,499.9 46,085.6 39,775.2 33,791.0 38,405.4 -45,913.2 30,240.8 56,044.1 80,826.2 14434.25 15910.099 17516.404 19362.152 21634.709 24096.311 26417.623 28330.4932 31,651.4 23,865.1 16,274.6 19,043.2 -67,547.9 6,144.5 29,626.4 52,495.7 Revenue Growth Operating income Growth Net income Growth PLEASE CALCULATE THE FOLLOWING RATIOS FOR EACH YEAR Growth (%) NA 4.3% 4.2% 10.3% -38.0% 71.5% NA 4.1% -3.7% 11.7% -104.4% -2285.7% NA -24.6% -31.8% 17.0% 454.7% -109.1% 15.3% 36.1% 382.2% 12.4% 25.5% 77.2% Gross margin Operating margin Net margin 60.8% 47.4% 57.7% 43.6% Margins (%) SS.2% 40.3% 9.5% SS.7% 40.8% 10.0% 23.0% -2.9% -57.5% 52.9% 37.0% 3.1% 58.0% 43.7% 12.8% 61.8% 48.7% 20.1% 20.0% 14.5% COGS/Sales (%) S&A/Sales/%) 39.2% 13.4% 42.3% 14.1% 44.8% 14.9% 44.3% 14.8% 77.0% 25.9% 47.1% 15.9% 42.0% 14.3% 38.2% 13.1% Effective tax rate %* 31.3% 40.0% 51.8% 50.4% 47.1% 79.7% 47.1% 35.1% GoodThing Furniture Consolidated Balance Sheets 2014 2015 2016 2017 2018 2019 2020 As of (In millions) Assets Current Assets: Accounts receivable Inventories 2 Total current assets 47,200.0 33,343.0 80,542.9 52,455.8 56,924.2 62,640.9 71,443.5 73,954.2 77,441.3 36,614.2 39,990.8 43,042.2 45,128.4 46,419.8 47,406.5 89,069.9 96,915.0 105,683.1 116,571.9 120,374.0 124,847.8 Property, plant and equipment, net Total assets 3,920.1 84,463.0 5,202.6 7,155.3 9,310.3 7,440.0 5,202.8 94,272.5 104,070.3 114,993.4 124,012.0 125,576.9 3,641.4 128,489.2 5 Liabilities and shareholders' equity Current Liabilities: Accounts payable Accrued liabilities Total current liabilities 11,363.5 1,682.3 13,045.8 12,538.0 13,694.3 14,739.2 15,453.6 1,878.7 2,056.7 2,225.9 2,348.9 14,416.7 15,751.1 16,965.1 17,802.6 15,895.9 2,436.4 18,332.2 16,233.7 2,504.6 18,738.4 Debt 5 Equity Total liabilities and shareholders' 6,790.0 65,627.2 85,463.0 5,890.0 5,978.0 6,120.0 6,379.0 6,123.0 6,509.0 74,965.8 84,341.3 93,908.3 98,830.4 102,121.6 104,241.8 95,272.5 106,070.3 116,993.4 123,012.0 126,576.9 129,489.2 3 PLEASE CALCULATE THE FOLLOWING RATIOS FOR EACH YEAR Current assets/Sales (%) 48.8% 51.8% 51.1% 90.0% 57.9% Current liabilities/Sales (%) 7.9% 8.4% 8.3% 14.4% 8.8% 51.9% 7.9% 47.9% 7.2% Good Thing Furniture Discounted Free Cash Flow Analysis 2022 2026 2027 2028 2029 2030 2023 2024 2025 ASSUMPTIONS 2031 REASONS Revenue growth (%) COGS/Sales (%) S&A/Sales (%) Tax rate (%) Current assets/Sales (%) Current liabilities/Sales (%)