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20X9 ASSETS CURRENT Cash 564,911 Trade and other receivables 8,158,139 Unbilled revenue 2,679,949 11,402,998 EQUIPMENT ( Note 3 ) 541,404 $ 11,944,402 LIABILITIES CURRENT Bank

20X9

ASSETS
CURRENT
Cash 564,911
Trade and other receivables 8,158,139
Unbilled revenue 2,679,949
11,402,998
EQUIPMENT (Note 3) 541,404
$ 11,944,402
LIABILITIES
CURRENT
Bank indebtedness -
Trade and other payables 4,048,068
Government remittances 270,883
4,318,952
PROMISSORY NOTE 3,500,000
3,500,000
SHAREHOLDERS EQUITY
Share capital (Note 4) 200
Retained earnings 4,125,250
4,125,450
$ 11,944,402
Credit Facilities Details
New debt: 1,000,000.00
Amortization (months): 72
Number of periods (years):
Rate: 5.1%
Annual Payment
Credit Line: 3,000,000.00
Spread:
Prime: 3.0%
All-in:
Projected utilization:
20X9
REVENUES $ 29,777,206
COST OF SALES 24,625,749
GROSS MARGIN 5,151,457
17.3%
EXPENSES
Executive compensation 446,658
Rent and occupancy 599,293
Depreciation 148,886
Selling, general, and administrative 2,977,721
4,172,558
NET INCOME BEFORE INCOME TAXES 978,899
INCOME TAXES 146,835
NET INCOME $ 832,064

What is Richardson Repair Services' 20X9 Funded Debt to EBITDA ratio, tested under the following assumptions: 1. The $1MM loan advances on a 6-year amortization 2. The operating line is being tested at 75% average utilization"

Review Later

2.9x

3.0x

3.6x

3.9x

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