Forecast dels tree cash fow reproduce Table 10.90 mingideko's market share will increase by 0.50 percent per year, anting, and depreciation bordo de procediment capital occur (adeko's working capital requirements through 2010 wib showers prom incomments 2005 2010 row be whether 2005 shower production plant will require an expansion in 2010 (when production volume wild the curve by 50% od the cost of the companion wie 5150m This wount will be tomorrow 6.8% The new projected capital investments are shown here me an income Calculate Ideko free cash flow through 2010 below (Round town0001 2000 2007 2000 2000 2010 Free Cash Flow (5000) Net Income Put: Athertaxerest Exp Unlevered Net Income Depreciation Les increase in NWC Les Capital Expendium Free Cash Flow of Firm Plus No Borg Lass: Axistente Free Cash Flow to Equity gure TABLE 19.10 SPREADSHEET Ideko's Free Cash Flow Forecast 2006 2007 2008 2009 2010 Year 2005 Free Cash Flow ($ 000) 1 Net Income 2 Plus: After Tax Interest Expense 3 Unlevered Not Income 4 Plus: Depreciation 5 Loss: Increases in NWC 6 Less: Capital Expenditures 7 Free Cash Flow of Firm 8 Plus: Not Borrowing 9 Less: After-Tax Interest Expense 10 Free Cash Flow to Equity 5,193 6.247 6,960 8,382 10,545 4,420 4.420 4,420 5,083 5,304 9,613 10,667 11,380 13,465 15,849 5,450 5,405 6,865 7.678 7.710 3,412 (3,6631 (4,0891 14,685) (5.231) 15,0001 (5.000! (20.0001 (15,000) 18,000) 13,475 7409 15,845) 1.458 10,328 15,000 5.000 14,4201 14,4201 14.4201 15.083) (5,3041 9,055 2.989 4,735 1,375 5,024 Print Done MeBook Air 000 000 5 > ta Table Click on the following icon in order to copy its contents into a spreadsheet.) Ideko's Working Capital Requirements Working Capital Days Assets Based on: Accounts Receivable Sales Revenue Raw Materials Raw Materials Costs Finished Goods Raw Materials + Labor Costs Minimum Cash Balance Sales Revenue Liabilities Wages Payable Direct Labor + Admin Costs Other Accounts Payable Raw Materials + Sales and Marketing 2005 Days 90 45 45 30 > 2005 Days 60 30 45 30 15 45 15 45 Print Done MacBook Air DOO Doo F4 0 DII DD FS F6 F7 FB F9 * % 5 & 7 6 C 9 oc 2005 2006 2007 2008 2009 2010 13,864 17,418 19,465 18,493 1,973 21.716 15,556 1,627 5,352 1,996 1,464 4,741 3,932 1,804 6,029 4,192 6,164 6,781 9,733 Working Capital ($ 000) Assets Accounts Receivable Raw Materials Finished Goods Minimum Cash Balance Total Current Assets Labilities Wages Payable Other Accounts Payable Total Current Liabilities Not Working Capital Increase in Net Working Capital 2,205 7,615 10,858 42,394 8,709 7,778 30,313 30,822 27.001 33,960 37,975 1,554 1,717 1,295 3,360 1,368 3,912 2.142 6.565 4,541 5,253 4,655 6,095 5.280 21,721 (4.446) 26.167 1,895 5,914 7.809 30,166 3,176 6,970 26,990 2.772 8,707 33,687 24,218 2,497 3.521 Print Done MacBook Air 30 888 Fid ga F7 Dil DD FS A & $ 4 % 5 6 * 00 7 C 9 0 R T Y U 0 F G Oro Income Statement ($ 000) 2005 2006 2007 200B 2009 2010 75,000 84,341 94,631 105,957 118,414 132,106 (26,829) (34,939) 70,338 (26,421) Sales Cost of Goods Sold Raw Materials Direct Labor Costs Gross Profit Sales and Marketing Administrative EBITDA Depreciation EBIT Interest Expense (net) Pretax Income Income Tax Not Income (16,000) (17,816) (18,000) (20,639) 41.000 45,886 (11,250) (13,916) (13,500) (12,651) 16,250 19,319 (5,500) (5.450) 10,750 13,869 (75) (6,800) 10,675 7,069 (3.736) (2,474) 6.939 4,595 (19,795) (21,946) (23,612) (26,956) 51.224 57,055 (17.034) (20,662) (14,195) (14,834) 19,995 21.559 (5,405) (5,365) 14,590 16,194 (6,800) (6,800) 7.790 9,394 (2.727) (3.288) 5,063 6,106 (24,285) (30,714) 63,415 (23,683) (15,394) 24,338 (5,328) 19.010 (6,800) 12,210 (4.274) 7,936 (17,174) 26,743 (6,795) 19.948 (6,800) 13,148 (4,602) 8,546 Print Done MacBook Air 888 F4 og DD FS DII FB F7 FVD $4 % 5 & 7 * 6 8 9 O R T Y I 0 eng (Click on the following icon in order to copy its contents into a spreadsheet.) Estimated 2005 Balance Sheet Data for Ideko Corporation Balance Sheet ($ 000) Assets Cash and Equivalents 6,164 Accounts Receivable 18,493 Inventories 6,165 Total Current Assets 30,822 Property, Plant, and Equipment 49,500 Goodwill 72,332 Total Assets 152,654 Liabilities and Stockholders' Equity Accounts Payable Debt Total Liabilities Stockholders' Equity Total Liabilities and Equity 4,654 100,000 104,654 48,000 152,654 Print Done MacBook Air 888 DII og F7 F4 F6 F8 $ % & Assume an income tax rate of 357) Table nearest $ 000.) - Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) Fixed Assets and Capital Investment (S 000) 2005 2006 2007 2008 New Investment 5,000 5,000 5,000 5,000 Depreciation (5,500) (5.450) (5,405) (5,365) 2009 5,000 (5,328) 2010 20.000 (6,795) Print Done MacBook Air 888 ao F7 DII FA DD F9 F4 FS A & % 5 C 9 4 00 * ) 0 6 7 R T Y U 0 Forecast dels tree cash fow reproduce Table 10.90 mingideko's market share will increase by 0.50 percent per year, anting, and depreciation bordo de procediment capital occur (adeko's working capital requirements through 2010 wib showers prom incomments 2005 2010 row be whether 2005 shower production plant will require an expansion in 2010 (when production volume wild the curve by 50% od the cost of the companion wie 5150m This wount will be tomorrow 6.8% The new projected capital investments are shown here me an income Calculate Ideko free cash flow through 2010 below (Round town0001 2000 2007 2000 2000 2010 Free Cash Flow (5000) Net Income Put: Athertaxerest Exp Unlevered Net Income Depreciation Les increase in NWC Les Capital Expendium Free Cash Flow of Firm Plus No Borg Lass: Axistente Free Cash Flow to Equity gure TABLE 19.10 SPREADSHEET Ideko's Free Cash Flow Forecast 2006 2007 2008 2009 2010 Year 2005 Free Cash Flow ($ 000) 1 Net Income 2 Plus: After Tax Interest Expense 3 Unlevered Not Income 4 Plus: Depreciation 5 Loss: Increases in NWC 6 Less: Capital Expenditures 7 Free Cash Flow of Firm 8 Plus: Not Borrowing 9 Less: After-Tax Interest Expense 10 Free Cash Flow to Equity 5,193 6.247 6,960 8,382 10,545 4,420 4.420 4,420 5,083 5,304 9,613 10,667 11,380 13,465 15,849 5,450 5,405 6,865 7.678 7.710 3,412 (3,6631 (4,0891 14,685) (5.231) 15,0001 (5.000! (20.0001 (15,000) 18,000) 13,475 7409 15,845) 1.458 10,328 15,000 5.000 14,4201 14,4201 14.4201 15.083) (5,3041 9,055 2.989 4,735 1,375 5,024 Print Done MeBook Air 000 000 5 > ta Table Click on the following icon in order to copy its contents into a spreadsheet.) Ideko's Working Capital Requirements Working Capital Days Assets Based on: Accounts Receivable Sales Revenue Raw Materials Raw Materials Costs Finished Goods Raw Materials + Labor Costs Minimum Cash Balance Sales Revenue Liabilities Wages Payable Direct Labor + Admin Costs Other Accounts Payable Raw Materials + Sales and Marketing 2005 Days 90 45 45 30 > 2005 Days 60 30 45 30 15 45 15 45 Print Done MacBook Air DOO Doo F4 0 DII DD FS F6 F7 FB F9 * % 5 & 7 6 C 9 oc 2005 2006 2007 2008 2009 2010 13,864 17,418 19,465 18,493 1,973 21.716 15,556 1,627 5,352 1,996 1,464 4,741 3,932 1,804 6,029 4,192 6,164 6,781 9,733 Working Capital ($ 000) Assets Accounts Receivable Raw Materials Finished Goods Minimum Cash Balance Total Current Assets Labilities Wages Payable Other Accounts Payable Total Current Liabilities Not Working Capital Increase in Net Working Capital 2,205 7,615 10,858 42,394 8,709 7,778 30,313 30,822 27.001 33,960 37,975 1,554 1,717 1,295 3,360 1,368 3,912 2.142 6.565 4,541 5,253 4,655 6,095 5.280 21,721 (4.446) 26.167 1,895 5,914 7.809 30,166 3,176 6,970 26,990 2.772 8,707 33,687 24,218 2,497 3.521 Print Done MacBook Air 30 888 Fid ga F7 Dil DD FS A & $ 4 % 5 6 * 00 7 C 9 0 R T Y U 0 F G Oro Income Statement ($ 000) 2005 2006 2007 200B 2009 2010 75,000 84,341 94,631 105,957 118,414 132,106 (26,829) (34,939) 70,338 (26,421) Sales Cost of Goods Sold Raw Materials Direct Labor Costs Gross Profit Sales and Marketing Administrative EBITDA Depreciation EBIT Interest Expense (net) Pretax Income Income Tax Not Income (16,000) (17,816) (18,000) (20,639) 41.000 45,886 (11,250) (13,916) (13,500) (12,651) 16,250 19,319 (5,500) (5.450) 10,750 13,869 (75) (6,800) 10,675 7,069 (3.736) (2,474) 6.939 4,595 (19,795) (21,946) (23,612) (26,956) 51.224 57,055 (17.034) (20,662) (14,195) (14,834) 19,995 21.559 (5,405) (5,365) 14,590 16,194 (6,800) (6,800) 7.790 9,394 (2.727) (3.288) 5,063 6,106 (24,285) (30,714) 63,415 (23,683) (15,394) 24,338 (5,328) 19.010 (6,800) 12,210 (4.274) 7,936 (17,174) 26,743 (6,795) 19.948 (6,800) 13,148 (4,602) 8,546 Print Done MacBook Air 888 F4 og DD FS DII FB F7 FVD $4 % 5 & 7 * 6 8 9 O R T Y I 0 eng (Click on the following icon in order to copy its contents into a spreadsheet.) Estimated 2005 Balance Sheet Data for Ideko Corporation Balance Sheet ($ 000) Assets Cash and Equivalents 6,164 Accounts Receivable 18,493 Inventories 6,165 Total Current Assets 30,822 Property, Plant, and Equipment 49,500 Goodwill 72,332 Total Assets 152,654 Liabilities and Stockholders' Equity Accounts Payable Debt Total Liabilities Stockholders' Equity Total Liabilities and Equity 4,654 100,000 104,654 48,000 152,654 Print Done MacBook Air 888 DII og F7 F4 F6 F8 $ % & Assume an income tax rate of 357) Table nearest $ 000.) - Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) Fixed Assets and Capital Investment (S 000) 2005 2006 2007 2008 New Investment 5,000 5,000 5,000 5,000 Depreciation (5,500) (5.450) (5,405) (5,365) 2009 5,000 (5,328) 2010 20.000 (6,795) Print Done MacBook Air 888 ao F7 DII FA DD F9 F4 FS A & % 5 C 9 4 00 * ) 0 6 7 R T Y U 0