Negative X:

Positive X:

Income statement Balance sheet Assets Cash 20101 9,000 800,000 1,400,000 % of sales 2009 8,500 700,000 1,300,000 % of sales 2010 8,000,000 6,500,000 780,000 AR Sales COGS Other Expenses Total OP costs Inventory Total CA 2,209,000 2,008,500 7,280,000 Fixed Assets Total assets 1,200,000 3,409,000 1,200,000 3,208,500 | EBIT Interest Exp EBT 720,000 144,080 575,9201 200,000 375,920 Taxes NI 620000 701,000 560,000 1,881,0001 600000 680,000 540,000 1,820,000 Liabilities AP Notes Payable Accruals Total Current liab Long term debt Equity Total liab and Eq 1,100,000 1,100,000 428,000 3,409,000 288,500 3,208,500 We expect Revenues to grow at a rate of 5%. Assume that CAPEX is equal to DEPRECIATION and long term debt is a bond. Solve for the amount of notes payable needed in 2011. Balance sheet Income statement Assets 2010 2011 2011 Cash % of sales 2009 8,500 700,000 1,300,000 9,000 800,000 1,400,000 AR % of sales 2010 8,000,000 5,700,000 680,000 Sales COGS Other Expenses Total OP costs Inventory Total CA 2,209,000 2,008,500 6,380,000 Fixed Assets Total assets 1,200,000 3,409,000 1,200,000 3,208,500 EBIT Interest Exp EBT 1,620,000 144,0801 1,475,920 568,000 907,9201 Taxes 620000 600000 NI 701,000 560,000 1,881,000 680,000 540,000 1,820,000 Liabilities AP Notes Payable Accruals Total Current liab Long term debt Equity Total liab and Eq 1,100,000 1,100,000 428,000 3,409,000 288,500 3,208,500 We expect Revenues to grow at a rate of 25%. Assume that CAPEX is equal to DEPRECIATION and long term debt is a bond. Solve for the amount of notes payable needed in 2011. Income statement Balance sheet Assets Cash 20101 9,000 800,000 1,400,000 % of sales 2009 8,500 700,000 1,300,000 % of sales 2010 8,000,000 6,500,000 780,000 AR Sales COGS Other Expenses Total OP costs Inventory Total CA 2,209,000 2,008,500 7,280,000 Fixed Assets Total assets 1,200,000 3,409,000 1,200,000 3,208,500 | EBIT Interest Exp EBT 720,000 144,080 575,9201 200,000 375,920 Taxes NI 620000 701,000 560,000 1,881,0001 600000 680,000 540,000 1,820,000 Liabilities AP Notes Payable Accruals Total Current liab Long term debt Equity Total liab and Eq 1,100,000 1,100,000 428,000 3,409,000 288,500 3,208,500 We expect Revenues to grow at a rate of 5%. Assume that CAPEX is equal to DEPRECIATION and long term debt is a bond. Solve for the amount of notes payable needed in 2011. Balance sheet Income statement Assets 2010 2011 2011 Cash % of sales 2009 8,500 700,000 1,300,000 9,000 800,000 1,400,000 AR % of sales 2010 8,000,000 5,700,000 680,000 Sales COGS Other Expenses Total OP costs Inventory Total CA 2,209,000 2,008,500 6,380,000 Fixed Assets Total assets 1,200,000 3,409,000 1,200,000 3,208,500 EBIT Interest Exp EBT 1,620,000 144,0801 1,475,920 568,000 907,9201 Taxes 620000 600000 NI 701,000 560,000 1,881,000 680,000 540,000 1,820,000 Liabilities AP Notes Payable Accruals Total Current liab Long term debt Equity Total liab and Eq 1,100,000 1,100,000 428,000 3,409,000 288,500 3,208,500 We expect Revenues to grow at a rate of 25%. Assume that CAPEX is equal to DEPRECIATION and long term debt is a bond. Solve for the amount of notes payable needed in 2011