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An analyst developed the following set of pro forma financial statements as an input into a valuation. Spot the errors in the pro forma.
An analyst developed the following set of pro forma financial statements as an input into a valuation. Spot the errors in the pro forma. In millions $ 2012A 2013E 2014E 2015E Sales Operating expenses Operating income 454.0 481.2 510.1 408.6 433.1 459.1 45.4 48.1 51.0 Net financial expenses 6.4 10.5 12.9 Comprehensive income 39.0 37.6 38.1 Net operating assets 227.0 240.6 255.1 270.4 Net financial obligations 130.0 130.0 130.0 130.0 Common equity 97.0 110.6 125.1 140.4 Net dividends 25.0 25.0 25.0 Free cash flow (19.0) 28.0 29.6
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
10th Edition
1305793196, 978-1305793194
