Income Statement Data:

$26 million in EBITDA is distributed as follows:

January through April: 5% each month

May and June: 10% each month

July and August: 15% each month

September and October: 10% each month

November and December: 5% each month

Depreciation is $1 million per month

Interest Expense is $6 million per year

The combined state and federal tax rate is 35%

Timing Adjustments:

Annual interest expense consists of $3 million bond interest payments due on March 15 and September 15.

Annual licensing fees of $2.4 million are due on July 1

Annual liability insurance premium of $6 million is due on September 1

Quarterly real estate tax payments of $1.8 million are due on February 1, May 1, August 1, and November 1 ($7.2 million in total).

Investing and Financing Cash Flows:

$5 million bond principal repayments are due on February 1 and August 1 ($10 million for year).

$6 million in restaurant renovations are paid in equal monthly installments

Maintenance capital expenditures are $750,000 per month ($9 million for year).

The theme park would like to pay dividends of $2 million per quarter on March 15, June 15, September 15, and December 15 ($8 million in total).

THEME PARK 2016 PROJECTED MONTHLY CONDENSED CASH FL (S in Millions) Jan Feb Mar Jun Jul Se Oct Nov Dec Total Condensed Income Statement EBITDA Depreciation Expense Interest Expense Pre-Tax Income Income Tax (Provision) Be Net Income nefi Timing/Non-Cash Adjustments Add Back Depreciation Expense Interest Expense (Semi-Annual) Licensing Fee (A Insurance (Annual) Real Estate Taxes (Quartery) Operating Cash Flow Investing/Financing Cash Flows Bond Principal Repayment Restaurant Renovations Maintenance Capital Expenditures Monthly Cash Flow Surplus (Deficit) Cumulative Surplus (Deficit)