Calculate the remaining content based on the information in the first figure
The problem is to use the given information to calculate the remaining information
First Year Assignment Assumptions Hist. Prof. Proj. Proj. Proj. Prol. Year Year 1 Year 2 Yoar 3 Year 4 Years Income statement % 1% % 1% 78.0% 70% 54% 55% 75% % 2x 15% % 12% 15% 17% 2% 10% 14% Sales growth COGS as % of sales Depreciation as % of beginning fixed assets SG&A as % of sales Tax rate as % of profit before tax Dividends as % of profit after tax Weighted average shares outstanding 24% 25% 25% 20% 27% 30% 55% 3% 0% 13% 6989 7000 7200 7200 7300 Assets Operating current assets as % of sales Capex as % of sales 7% % 13% 10% % Liabilities 30% 25% 30% 31% 20% Equity Operating liabilities as % of COGS Shares issued in year 200 100 Debt 300 200 200 300 Issuance of long-term debt Repayment of long-term debt 50 100 100 100 100 Interest rates 3% 13% % % 3% Interest rate on revolver Interest rate on long-term debt 4% 14% Interest income on cash 1% 11% First Year Assignment Assumptions Hist. Proj. Proj. Proj. Proj. Proj. Year o Yoar 1 Yoar 2 Yoar 3 Year 4 Year 5 Income statement 3% 1% 76,0% 70% 84% 55% 1% 75% 2% 2% 15% % 12% 15% 17% b% 10% 14% Sales growth COGS as % of sales Depreciation as % of beginning fixed assets SG&A as % of sales Tax rate as % of profit before tax Dividends as % of profit after tax Weighted average shares outstanding 24% 25% 25% 28% 27% 30% 55% 23% 20% 23% 0989 7000 7200 7200 7300 Assets Operating current assets as % of sales Capex as % of sales 20% 7% 10% 6% 17% 18% 20% 13% 10% 8% Liabilities Operating liabilities as % of COGS 30% 25% 30% 31% 20% Equity Shares issued in year 0 11 2006 1700 Debt Issuance of long-term debt Repayment of long-term debt 300 200 200 300 50 100 100 100 100 Interest rates 3% 3% 3% 3% 3% Interest rate on revolver Interest rate on long-term debt 4% % 14% 4% 14% First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Calcs Property, plant and equipment, net (fixed assets) Beginning balance Capital expenditure Depreciation Ending balance Equity Beginning balance Net income Dividends Ending balance OWC Operating current assets Operating current liabilities OWC First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year Year 1 Year 2 Year 3 Year 4 Year 5 Debt Revolver Balance Interest rate Interest expense Long-term debt Beginning balance Issuance Repayment Ending balance Interest rate Interest expense Interest expense summary Revolver Long-term debt Total interest expense Interest income Cash balance Interest rate Interest income First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year Year Year Year Year 1 2 3 4 5 Inc Stat Year 0 Sales Cost of goods sold Depreciation Gross profit 64.760.0 57.714.0 2,157.0 4,889.0 SG&A Operating profit Interest income Interest expense Profit before tax 1,884.0 3,005.0 34.1 1,090.0 1,917.8 Tax expense Net Income 433.0 1,484.8 Dividends 656.0 Shareholder information Weighted average shares outstanding Earnings per share 6,989.0 0.2 Dividends per share 0.1 First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year 1 Year 2 Year 3 Year 4 Year 5 BalSheet 0.0 Assets 3,408.0 Cash Operating current assets Total current assets 9,471.0 12,879.0 Property, plant and equipment Total assets 39,423.0 52,302.0 Liabilities & equity Operating current liabilities 17,927.0 Revolver Total current liabilities 17,927.0 0.0 Long-term debt Total liabilities 21,122.0 39,049.0 Equity 13,253.0 Total liabilities & equity 52,302.0 Balance check OK First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 CashFlow Net Income + Depreciation (Inc) dec in Operating Working Capital Operating cash flow - Capital expenditure Investing cash flow Inc (dec) in long-term debt Dividends Financing cash flow NET CASH FLOW Cash analysis Beginning cash Net cash flow Ending cash G . First Year Assignment Assumptions Hist. Year 0 Proj. Year 1 Proj. Proj Year 3 Proj. Year 2 Year 4 Proj. Year 5 2% 55% 2% 76.0% 2% 15% 24% 30% 2% 3% 70% 2% 15% 25% 25% 7000 1% 64% 2% 7% 25% 23% 7200 10% 26% 20% 7200 1% 75% 2% 14% 27% 23% 69857 7300 Income statement Sales growth COGS as of sales Depreciation as % of beginning fixed assets SG&A as * of sales Tax rate as % of profit before tax Dividends as of profit after tax Weighted average shares outstanding Assets Operating current assets as of sales Capex as of sales Llabilities Operating liabilities as % of COGS Equity Shares issued in year Debt Issuance of long-term debt Repayment of long-term debt Interest rates Interest rate on revolver Interest rate on long-term debt Interest income on cash 20% 7% 20% 6% 17% 13% 18% 10% 20% 30% 25% 30% 31% 20% 0 11 200 0 100 300 200 100 200 100 0 100 100 3% 3% 3% 4% 1% 3% 4% 1% 1% 1% First Year Assignment Assumptions Hist Proj. Proj. Prof. Proj. Prof. Year Year Year Year Year Year 11 2 3 4 Income statement 3% 1% 12% 2% 1% 76.0% 70% [64% 55% 75% 12% 15% 12% 2% 15% 17% 2% 2% 10% 14% Sales growth COGS as % of sales Depreciation as of beginning fixed assets SG&A as of sales Tax rate as of profit before tax Dividends as of profit after tax Weighted average shares outstanding 124% 25% -25%26% 27% 30% 25% 23% 20% 23% 69897000 7200 7200 7300 Assets Operating current assets as % of sales Carex as of sales 20% 7% |20% 17% 18% 20% 6% 13% 10% 8% Liabilities Operating liabilities as of COGS 30% 25% 30% 31% 20% Equity Sheres issued in year 11 2006 100 Debt 300 200 1200 300 Issuance of long-term debt Repayment of long-term debt 50 100 100 100 100 L Interest rates 3 % % 3% 13 3% Interest rate on revolver Interest rate on long-term debt Interest income on cash 14% 4% 14% 11% 14% 1% 14 First Year Assignment Assumptions Hist. Prof. Proj. Proj. Proj. Prol. Year Year 1 Year 2 Yoar 3 Year 4 Years Income statement % 1% % 1% 78.0% 70% 54% 55% 75% % 2x 15% % 12% 15% 17% 2% 10% 14% Sales growth COGS as % of sales Depreciation as % of beginning fixed assets SG&A as % of sales Tax rate as % of profit before tax Dividends as % of profit after tax Weighted average shares outstanding 24% 25% 25% 20% 27% 30% 55% 3% 0% 13% 6989 7000 7200 7200 7300 Assets Operating current assets as % of sales Capex as % of sales 7% % 13% 10% % Liabilities 30% 25% 30% 31% 20% Equity Operating liabilities as % of COGS Shares issued in year 200 100 Debt 300 200 200 300 Issuance of long-term debt Repayment of long-term debt 50 100 100 100 100 Interest rates 3% 13% % % 3% Interest rate on revolver Interest rate on long-term debt 4% 14% Interest income on cash 1% 11% First Year Assignment Assumptions Hist. Proj. Proj. Proj. Proj. Proj. Year o Yoar 1 Yoar 2 Yoar 3 Year 4 Year 5 Income statement 3% 1% 76,0% 70% 84% 55% 1% 75% 2% 2% 15% % 12% 15% 17% b% 10% 14% Sales growth COGS as % of sales Depreciation as % of beginning fixed assets SG&A as % of sales Tax rate as % of profit before tax Dividends as % of profit after tax Weighted average shares outstanding 24% 25% 25% 28% 27% 30% 55% 23% 20% 23% 0989 7000 7200 7200 7300 Assets Operating current assets as % of sales Capex as % of sales 20% 7% 10% 6% 17% 18% 20% 13% 10% 8% Liabilities Operating liabilities as % of COGS 30% 25% 30% 31% 20% Equity Shares issued in year 0 11 2006 1700 Debt Issuance of long-term debt Repayment of long-term debt 300 200 200 300 50 100 100 100 100 Interest rates 3% 3% 3% 3% 3% Interest rate on revolver Interest rate on long-term debt 4% % 14% 4% 14% First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Calcs Property, plant and equipment, net (fixed assets) Beginning balance Capital expenditure Depreciation Ending balance Equity Beginning balance Net income Dividends Ending balance OWC Operating current assets Operating current liabilities OWC First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year Year 1 Year 2 Year 3 Year 4 Year 5 Debt Revolver Balance Interest rate Interest expense Long-term debt Beginning balance Issuance Repayment Ending balance Interest rate Interest expense Interest expense summary Revolver Long-term debt Total interest expense Interest income Cash balance Interest rate Interest income First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year Year Year Year Year 1 2 3 4 5 Inc Stat Year 0 Sales Cost of goods sold Depreciation Gross profit 64.760.0 57.714.0 2,157.0 4,889.0 SG&A Operating profit Interest income Interest expense Profit before tax 1,884.0 3,005.0 34.1 1,090.0 1,917.8 Tax expense Net Income 433.0 1,484.8 Dividends 656.0 Shareholder information Weighted average shares outstanding Earnings per share 6,989.0 0.2 Dividends per share 0.1 First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year 1 Year 2 Year 3 Year 4 Year 5 BalSheet 0.0 Assets 3,408.0 Cash Operating current assets Total current assets 9,471.0 12,879.0 Property, plant and equipment Total assets 39,423.0 52,302.0 Liabilities & equity Operating current liabilities 17,927.0 Revolver Total current liabilities 17,927.0 0.0 Long-term debt Total liabilities 21,122.0 39,049.0 Equity 13,253.0 Total liabilities & equity 52,302.0 Balance check OK First Year Assignment Hist. Proj. Proj. Proj. Proj. Proj. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 CashFlow Net Income + Depreciation (Inc) dec in Operating Working Capital Operating cash flow - Capital expenditure Investing cash flow Inc (dec) in long-term debt Dividends Financing cash flow NET CASH FLOW Cash analysis Beginning cash Net cash flow Ending cash G . First Year Assignment Assumptions Hist. Year 0 Proj. Year 1 Proj. Proj Year 3 Proj. Year 2 Year 4 Proj. Year 5 2% 55% 2% 76.0% 2% 15% 24% 30% 2% 3% 70% 2% 15% 25% 25% 7000 1% 64% 2% 7% 25% 23% 7200 10% 26% 20% 7200 1% 75% 2% 14% 27% 23% 69857 7300 Income statement Sales growth COGS as of sales Depreciation as % of beginning fixed assets SG&A as * of sales Tax rate as % of profit before tax Dividends as of profit after tax Weighted average shares outstanding Assets Operating current assets as of sales Capex as of sales Llabilities Operating liabilities as % of COGS Equity Shares issued in year Debt Issuance of long-term debt Repayment of long-term debt Interest rates Interest rate on revolver Interest rate on long-term debt Interest income on cash 20% 7% 20% 6% 17% 13% 18% 10% 20% 30% 25% 30% 31% 20% 0 11 200 0 100 300 200 100 200 100 0 100 100 3% 3% 3% 4% 1% 3% 4% 1% 1% 1% First Year Assignment Assumptions Hist Proj. Proj. Prof. Proj. Prof. Year Year Year Year Year Year 11 2 3 4 Income statement 3% 1% 12% 2% 1% 76.0% 70% [64% 55% 75% 12% 15% 12% 2% 15% 17% 2% 2% 10% 14% Sales growth COGS as % of sales Depreciation as of beginning fixed assets SG&A as of sales Tax rate as of profit before tax Dividends as of profit after tax Weighted average shares outstanding 124% 25% -25%26% 27% 30% 25% 23% 20% 23% 69897000 7200 7200 7300 Assets Operating current assets as % of sales Carex as of sales 20% 7% |20% 17% 18% 20% 6% 13% 10% 8% Liabilities Operating liabilities as of COGS 30% 25% 30% 31% 20% Equity Sheres issued in year 11 2006 100 Debt 300 200 1200 300 Issuance of long-term debt Repayment of long-term debt 50 100 100 100 100 L Interest rates 3 % % 3% 13 3% Interest rate on revolver Interest rate on long-term debt Interest income on cash 14% 4% 14% 11% 14% 1% 14
