In 2016, you started a small technology company Multigraphic TechSolutions. Reproduced below are its financial highlights for each of the past four years, ended 31 March. The final financial statements for the year ended March 31, 2020 have not yet been released. Fiscal Year Ending March 2016 2017 2018 2019 31 Revenue ($ thousand) 344 682 849 1069 Cost of Goods Sold ($ thousands) 213 443 543 673 Cost of Goods Sold - % 62% 65% 64% 63% Gross Profit ($ thousands) 131 239 306 396 Gross Profit Margin - % 38% 35% 36% 37% 263 266 271 275 Operating Expense ($ thousands) Net Income (Loss) Before Tax ($ '000) (132) (27) 35 121 Taxes Net Income (Loss) After Tax ($ '000) (132) (27) 121 One day, Mark Zuckerberg sends you a text message, on your i-Phone. Mark writes 'Dude! I want 2 buy your biz. What's it worth? Later, you sit down with your 22-year old CFO, and you ask her "What's a reasonable valuation of the equity of the company?" "Well says your CFO, putting down her bubble tea, and picks up her i-Pad "We forecast our sales for this past year (FYE March 31, 2020) to have been exactly $1.2 million. We are forecasting our cost of goods sold to be 60%." "What about our op ex?" you ask. "I'm budgeting total operating expenses of $280,000" she tells you. "What about taxes?" you ask. "Well, we've got some tax loss carry forward and, thanks to the accelerated depreciation on the software we've purchased, we won't pay any taxes this year. "So.....?" "So" she explains "Mark will be acquiring our net after tax income, and paying a multiple for it." You decide to set up a small business - a lemonade stand. In order to start the venture, you need to make certain capital acquisitions. However, being deep in debt to OSAP, you have NO capital of your own. Fortunately, you are able to persuade your Mom to give you $20 to finance your start-up. Although you will run the business as a sole proprietor, you promise that you will give your Mom 50% of all of the business' after-tax profit. To get the business up and running, you first go to the Dollar Store. You spend $10 of the money that your Mom gave you. You buy some big pieces of cardboard, some green and orange felt pens, and several rolls of scotch tape. You use up all of these supplies to make a big sign that says "Delicious Home Made Lemonade!". Then you go to Home Depot where you spend $10 to buy a great big jug. You need a table and a chair, and a wooden spoon, but you borrow those, for free, from your Mom. In addition, your Mom says you can get your water, free, from the kitchen tap in your house. The next day, you go to the supermarket and you buy the following: o plastic disposable glasses - These cost you 10 for $1.00 o lemons - These cost 25 cents each. You will use 1 lemon in each glass of lemonade. o sugar cubes - you buy a package, and you calculate that each cube costs 5 cents. You will put 3 cubes into each glass of lemonade that you make. You decide to sell each glass of delicious home-made lemonade at a price that includes a 100% mark-up over your variable costs. In your business planning, you are careful to open your business on the first day of summer, June 21. Thanks to global warming, you are able to sell 20 glasses of lemonade per day. Calculate your break even quantity; and Indicate the number of days until the business breaks even