I am working on a Pro Forma Valuation. I am computing the earnings loss (basic) in USD shares, but my calculations are not correct. Are you able to help me see where I went wrong above? Thank you.
Super Growth Period 5 Year Supergrowth Rate Supergrowth Cost of Capital 13.70% 6.00% 1 as a % of sales (Base Formula) 2 hold an item constant 3 all subtotals must be calculated as subtotals Constant Growth Period (starts in year 5 and goes on forever) Growth Rate Cost of Capital 1.00% 4.00% 12/31/2019 $ 22,319.5 12/31/2020 $25,377 12/31/2021 $28,854 12/31/2022 $32,807 12/31/2023 12/31/2024 $37,302 $42,412 100% 0% 21% 25% 28% 0.211528 4,721.2 5,595 6,213.8 $5,368.00 $6,361.52 $6,103.42 $7,233.04 $6,939.59 $8,223.97 $7,890.31 $8,971.29 Base Formula $9,350.65 $10,631.69 $7,065.09 $8,033.01 $9,133.53 $10,384.82 $11,807.54 1% 239.6 $272.43 $309.75 $352.18 $400.43 $455.29 3% 575.6 0 0 0 0 O constant -1% (291.6) Income Statement [Abstract] % Revenue Costs, expenses, and other: Cost of sales Research and development Marketing, selling, and administrative Acquired in-process research and development (Note 3) Asset impairment, restructuring, and other special charges (Note 5) Other-net, (income) expense (Note 18) Costs, expenses, and other Income before income taxes Income taxes (Note 14) Net income (loss) from continuing operations Net income (loss) from discontinued operations (Note 19) Net income (loss) Earnings (loss) per share: Earnings (loss) from continuing operations - basic (in usd per share) 76% 24% 3% 21% 17,053.6 5,265.9 628 4,637.9 0 17,053.6 -$10,743.36 $714.04 0 17,053.6 $9,878.86 $811.86 0 17,053.6 -$8,895.92 $923.08 0 O constant 17,053.6 17,053.6 $7,778.32 $6,507.61 $1,049.55 $1,193.33 $11,457.40 -$10,690.72 -$9,819.01 -$8,827.87 $7,700.94 16% 3,680.5 $0.00 -$11,457.40 $0.00 -$10,690.72 $0.00 -$9,819.01 $0.00 $0.00 -$8,827.87 $7,700.94 $ 8,318.4 37% 0% $ 4.98 -$0.01 -$0.01 -$0.01 -$0.01 -$0.01 Super Growth Period 5 Year Supergrowth Rate Supergrowth Cost of Capital 13.70% 6.00% 1 as a % of sales (Base Formula) 2 hold an item constant 3 all subtotals must be calculated as subtotals Constant Growth Period (starts in year 5 and goes on forever) Growth Rate Cost of Capital 1.00% 4.00% 12/31/2019 $ 22,319.5 12/31/2020 $25,377 12/31/2021 $28,854 12/31/2022 $32,807 12/31/2023 12/31/2024 $37,302 $42,412 100% 0% 21% 25% 28% 0.211528 4,721.2 5,595 6,213.8 $5,368.00 $6,361.52 $6,103.42 $7,233.04 $6,939.59 $8,223.97 $7,890.31 $8,971.29 Base Formula $9,350.65 $10,631.69 $7,065.09 $8,033.01 $9,133.53 $10,384.82 $11,807.54 1% 239.6 $272.43 $309.75 $352.18 $400.43 $455.29 3% 575.6 0 0 0 0 O constant -1% (291.6) Income Statement [Abstract] % Revenue Costs, expenses, and other: Cost of sales Research and development Marketing, selling, and administrative Acquired in-process research and development (Note 3) Asset impairment, restructuring, and other special charges (Note 5) Other-net, (income) expense (Note 18) Costs, expenses, and other Income before income taxes Income taxes (Note 14) Net income (loss) from continuing operations Net income (loss) from discontinued operations (Note 19) Net income (loss) Earnings (loss) per share: Earnings (loss) from continuing operations - basic (in usd per share) 76% 24% 3% 21% 17,053.6 5,265.9 628 4,637.9 0 17,053.6 -$10,743.36 $714.04 0 17,053.6 $9,878.86 $811.86 0 17,053.6 -$8,895.92 $923.08 0 O constant 17,053.6 17,053.6 $7,778.32 $6,507.61 $1,049.55 $1,193.33 $11,457.40 -$10,690.72 -$9,819.01 -$8,827.87 $7,700.94 16% 3,680.5 $0.00 -$11,457.40 $0.00 -$10,690.72 $0.00 -$9,819.01 $0.00 $0.00 -$8,827.87 $7,700.94 $ 8,318.4 37% 0% $ 4.98 -$0.01 -$0.01 -$0.01 -$0.01 -$0.01
