$20192018$

Assets

Cash and equivalents $$100$ $$85$

Accounts receivable $275300$

Inventories $375250$

Total current assets $$750$ $$635$

Net plant and equipment $2,3001,490$

Total assets $$3,050$ $$2,125$

Liabilities and Equity

Accounts payable $$150$ $$85$

Accruals $7550$

Notes payable $15075$

Total current liabilities $$375$ $$210$

Long$-$term debt $450290$

Total liabilities $825500$

Common stock $1,2251,225$

Retained earnings $1,000400$

Common equity $2,2251,625$

Total liabilities and equity $$3,050$ $$2,125$

Income Statements

$20192018$

Sales $$2,025$ $$1,525$

Operating costs excluding depreciation and amortization $1,2501,000$

EBITDA $$775$ $$525$

Depreciation and amortization $10075$

EBIT $$675$ $$450$

Interest $6346$

EBT $$612$ $$404$

Taxes $(25\%)153101$

Net income $$459$ $$303$

Dividends paid $$54$ $$48$

Addition to retained earnings $$405$ $$255$

Shares outstanding $100100$

Price $$25\mathrm{.}00$ $$22\mathrm{.}50$

WACC $10\mathrm{.}00\%$