2015

Revenue 328,328

Cost of sales (155,619)

Gross Profit 172,709

Fixed SG&A and other indirect expenses ?? ?? ?? ?? ??

Variable SG&A and other indirect expenses ?? ?? ?? ?? ??

Total SG&A and other indirect expenses (62,648)

Operating Profit 110,061

2016

Revenue 349,818

Cost of sales (146,021)

Gross Profit 203,797

Fixed SG&A and other indirect expenses ?? ?? ?? ?? ??

Variable SG&A and other indirect expenses ?? ?? ?? ?? ??

Total SG&A and other indirect expenses (77,978)

Operating Profit 125,819

2017

Revenue 376,526

Cost of sales (169,278)

Gross Profit 207,248

Fixed SG&A and other indirect expenses ?? ?? ?? ?? ??

Variable SG&A and other indirect expenses ?? ?? ?? ?? ??

Total SG&A and other indirect expenses (86,279)

Operating Profit 120,969

2018

Revenue 395,280

Cost of sales (195,161)

Gross Profit 200,119

Fixed SG&A and other indirect expenses ?? ?? ?? ?? ??

Variable SG&A and other indirect expenses ?? ?? ?? ?? ??

Total SG&A and other indirect expenses (94,353)

Operating Profit 105,776

2019

Revenue 457,694

Cost of sales (202,750)

Gross Profit 254,944

Fixed SG&A and other indirect expenses ?? ?? ?? ?? ??

Variable SG&A and other indirect expenses ?? ?? ?? ?? ??

Total SG&A and other indirect expenses (100,625)

Operating Profit 154,319

Forecast for 2020 and 2021

Revenue

Cost of sales

Gross Profit

Fixed SG&A and other indirect expenses

Variable SG&A and other indirect expenses

Total SG&A and other indirect expenses

Operating Profit

Revenue: The growth rate for the number of stores In each forecast year equals the average annual growth rate in the number of stores over the historical period and the growth rate for revenue per store in each forecast year is 2.41 percentage points less than the growth rate in revenue per store from the previous year.

Cost of Sale: Cost of goods sold in each forecast year equals 48.23% of revenue

SG&A and other indirect expenses: For all indirect costs, 43.70% of such costs in the last historical year are considered fixed and the rest are considered variable.Fixed indirect costs in each forecast year are expected to be 5.92% higher than the fixed indirect costs from the previous year.The ratio of variable indirect costs to revenue in each forecast year is expected to equal the ratio from the previous year.