On tabs named P&G Balance Sheet and P&G Income Statement complete pro forma statements for P&G for fiscal years 2012-2016. Use assumptions in column H of each sheet in the following way:

(a) If the assumption says constant, assume that the value of the item at the end of fiscal year 2011 will stay constant for fiscal years 2012-2016. (b) If the assumption for item A says ratio, Item B, compute the average ratio of items A and B for fiscal years 2007-2011. Assume this average ratio will stay constant for each of the fiscal years 2012-2016. (c) If the assumption says ,growth rate, assume that the annual growth rate computed based on fiscal years 2007-2011awill stay constant for fiscal years 2012-2016. To find the growth rate, use the formula: =(_2011_2007)141.b (d) PLUG means the plug of the model.

the first two pics are the income statements and balance sheet and the last two pics are whats required for each respective worksheet

Page of 9 ZOOM + 6/30/2011 ASSUMPTIONS ASSUMPTIONS 6/30/2011 growth rate ratio, Sales 82,559.00 40,768.00 41,791.00 25,973.00 15,818.00 ratio, Sales The Procter & Gamble Company Annual Income Statement Annual Income Statement Period Ended 6/30/2007 6/30/2008 6/30/2009 6/30/2010 In millions of USD (except for per share items) Net Sales 72,441.00 79,257.00 76,694.00 78,938.00 Cost of Revenue 35,376.00 39,261.00 38,690.00 37,919.00 Gross Profit 37,065.00 39,996.00 38,004.00 41,019.00 Selling / General / Administrative Expense 22,580.00 24,017.00 22,630.00 24,998.00 Operating Income 14,485.00 15,979.00 15,374.00 16,021.00 Interest Income (Expense) -1,304.00 -1,467.00 -1,358.00 -946 Other Non-Operating Income (Expense) 481 373 397 -28 Net Income Before Taxes 13,662.00 14,885.00 14,413.00 15,047.00 Provision for Income Taxes 4,000.00 3,594.00 3,733.00 4,101.00 Net Income After Taxes 9,662.00 11,291.00 10,680.00 10,946.00 Total Extraordinary Items 6781 784 2,756.00 1,790.00 Net Income 10,340.00 12,075.00 13,436.00 12,736.00 Preferred Dividends - 161 -176 -192 -219 Income Available to Common Stocks including 10,179.00 11,899.00 13,244.00 12.517.00 Extraordinary Items Common Dividends -4,209.00 -4,655.00 -5,044.00 -5,458.00 Retained Earnings 5,970.00 7,244.00 8,200.00 7,059.00 82,559.00 40,768.00 41,791.00 25,973.00 15,818.00 -831 202 15,189.00 3,392.00 11,797.00 -831 ratio, Average net debt constant 202 15,189.00 3,392.00 11,797.00 ratio, Net Income Before Taxes 0 constant 0 11,797.00 -233 11,564.00) growth rate 11,797.00 -233 11,564.00 -5,767.00 growth rate -5,767.00 5,797.00 5,797.00 Page of 9 ZOOM + 6/30/2011 ASSUMPTIONS ASSUMPTIONS 6/30/2011 6/30/2012 6/30/2013 6/30/2014 6/30/2015 6/30/2016 2,768.00 2.768.00 0 0 constant constant ratio, Sales ratio, Sales ratio, Sales growth rate 0.00 0.00 0.00 0.00 0.00 6,275.00 7,379.00 4,408.00 1.140.00 21,970.00 2011 21.293.00 57,562.00 32,620.00 4,909.00 138,354.00 8,022.00 5.817.00 6,987.00 2.994.00 ratio, Sales constant constant growth rate 6,275.00 7,379.00 4,408.00 1,140.00 21,970.00 co 21,293.00 57,562.00 32,620.00 4,909.00 138,354.00 8,022.00 5,817.00 6,987.00 2,994.00 0.00 0.00 0.00 0.00 0.00 ratio, Sales ratio, Sales ratio, Sales The Procter & Gamble Company Annual Balance Sheet Annual Balance Sheet Period Ended 6/30/2007 6/30/2008 6/30/2009 6/30/2010 In millions of USD (except for per share items) Cash & Equivalents 5,354.00 3,313.00 4.781.00 2.879.00 Short Term Investments 202 228 0 0 Accounts Receivable - Trade, Net 6,629.00 6,761.00 5,836.00 5,335.00 Total Inventory 17 6,819.00 8,416.00 6.880.00 6,384.00 Prepaid Expenses 3,300.00 3,785.00 21 3.199.00 3,194.00 Other Current Assets, Total 1,727.00 2,012.00 1,209.00 990 Total Current Assets 24,031.00 24,515.00 100 21,905.00 18,782.00 Property/ Plant / Equipment, Total - Net 19,540.00 20,640.00 19,462.00 2 19,244.00 Goodwill, Net 56,552.00 59,767.00 56,512.00 54,012.00 Intangibles, Net 33,626.00 34,233.00 32,606.00 31,636.00 Other Long Term Assets, Total 4,265.00 4,837.00 4,348.00 4.498.00 Total Assets 138,014.00 143.992.00 134,833.00 128, 172.00 Accounts Payable 5,710.00 6,775.00 5.980.00 7.251.00 Accrued Expenses 9,586.00 4,544.00 4 361.00 5 179.00 Notes Payable / Short Term Debt 9,495.00 11 338.00 9,379.00 7.908.00 2 544.00 1,746.00 6.941.00 564 Current Portion of Long Term Debt / Capital Leases Other Current liabilities, Total 3,382.00 6,555.00 4,240.00 3,380.00 Total Current Liabilities 30,717.00 30,958.00 30.901.00 24,282.00 Long Term Debt 23,375.00 23,581.00 20,652.00 21 360.00 Deferred Income Tax 12,015.00 11,805.00 www. 10,752.00 10,902.00 Minority Interest 0 283 324 Pension Benefits - Underfunded 0 3,658.00 5,314.00 6.616.00 Other Long Term Liabilities 5.147.00 4.206.00 3,832.00 3,573.00 Total Liabilities 71 254.00 74,498.00 71,734,00 my 67,057.00 Redeemable Preferred Stock, Total 2013 1,406.00 1.366.00 1,324.00 1,277.00 Common Stock, Total 3.990,00 24 4.002.00 4,007.00 22 12 4,008.00 Additional Paid-In Capital 59,030.00 60 307.00 61 118.00 61,697.00 Retained Earnings (Accumulated Deficit) 41,797.00 B 48.986.00 14 57,309.00 2. 64,614.00 Treasury Stock - Common (Repurchased Stock) -38,772.00 -47,588.00 -55,961.00 -61,309.00 ESOP Debt Guarantee -1, 308.00 -1325.00 -1.340.00 -1.350.00 Other Comprehensive Income 617 3.746.00 3,358.00 -7,822.00 Total Equity 66,760.00 69,494.00 63,099.00 61 115.00 Total Liabilities & Shareholders' Equity 138,014.00 143,992.00 134,833.00 128,172.00 Total Common Shares Outstanding 3.131.95 3,032.72 2.917.04 2,843.47 Net Debt Average Net Debt ratio, Sales growth rate 0.00 0.00 0.001 0.001 0.00 290 ratio, Total Assets growth rate growth rate growth rate growth rate 0.00 0.00 0.00 0.00 0.00 3,473.00 27,293.00 22.033.00 11,070.00 361 6,275.00 3.682.00 70,714.00 1.234.00 4.000.00 62.405.00 70.682.00 -67,278.00 -1,357.00 -2,054.00 67,640.00 138,354.00 2,765.74 constant constant constant 3,473.00 27,293.00 22.033.00 11,070.00 361 6,275.00 3,682.00 70,714.00 1,234.00 4,008.00 62,405.00 70,682.00 can -67.278.00 -1,357.00 -2,054.00 67,640.00 138.354.00 PLUG constant constant 0.00 0.00 0.00 0.001 0.00 0.00 0.00 0.00 0.00 0.00 Net Debt Average Net Debt Page of 9 ZOOM + ble Company Annual Income Statement 6/30/2007 6/30/2008 6/30/2009 6/30/2010 6/30/2011 ASSUMPTIONS ASSUMPTIONS 6/30/2011 6/30/2012) 6/30/2013 6/30/2014) 6/30/2015 6/30/2016 growth rate ratio, Sales 82,559.00 40,768.00 41,791.00 25,973.00 15,818.00 0.00 0.00 0.00 0.001 82,559.00 40,768.000 41,791.00 25,973.000 15,818.00 -831 0.001 ratio, Sales 0.00 0.00 0.00 0.00 0.00 -831 ratio, Average net debt constant 72,441.00 35,376.00 37,065.00 22,580.00 14,485.00 -1,304.00 481 13,662.00 4,000.00 9,662.00 678 10,340.00 -161 10.179.00 79,257.00 39,261.00 39,996.00 24,017.00 15,979.00 -1,467.00 373 14,885.00 3,594.00 11,291.00 784 12,075.00 -176 11,899.00 76,694.00 38,690.00 38,004.00 22,630.00 15,374.00 -1,358.00 397 14,413.00 3,733.00 10,680.00 2,756.00 13,436.00 -192 13,244.00 78,938.00 37,919.00 41,019.00 24,998.00 16,021.00 -946 -28 15,047.00 4,101.00 10,946.00 1,790.00 12,736.00 -219 12,517.00 0.00 0.001 0.00 0.00 0.00 ratio, Net Income Before Taxes , 202 15,189.00 3,392.00 11,797.00 ol 0.00 0.00 0.00 0.00 202 15,189.00 3,392.00 11,797.00 0 11,797.00 -233 11,564.00 0.00 constant 0.00 0.00 0.00 0.00 0.00 growth rate 11,797.00 -233 11,564.00 0.00 0.00 0.00 0.00 0.00 -4.209.00 5,970.00 growth rate -4,655.00 7,244.00 -5,044.00 8,200.00 -5,458.00 7,059.00 -5,767.00 5,797.00 -5,767.00 5,797.00 0.00 0.00 0.00 0.00 0.00 Page of 9 ZOOM + A B D E F Return P&G S&P 500 COMPUTING THE COST OF EQUITY TE FOR PROCTER & GAMBLE USING THE CAPM 1 2 P&G cost of equity calculations 3 P&G beta 4 P&G tax rate, To Date 5 Risk free rate, If 1.00% 7/1/2011 6 Market return, I'm 6/1/2011 7 P&G cost of equity, rep&G 5/2/2011 8 Classic CAPM 4/1/2011 9 Tax-adjusted CAPM 3/1/2011 10 2/1/2011 11 1/3/2011 12 12/1/2010 13 11/1/2010 14 10/1/2010 15 9/1/2010 16 8/2/2010 17 7/1/2010 18 6/1/2010 19 5/3/2010 20 4/1/2010 21 3/1/2010 22 2/1/2010 23 1/4/2010 24 12/1/2009 25 11/2/2009 26 10/1/2009 27 9/1/2009 28 8/3/2009 29 7/1/2009 30 6/1/2009 31 5/1/2009 32 4/1/2009 1049.33 Prices P&G &G S&P 500 61.49 1292.28 63.57 1320.64 67 1345.2 64.9 1363.61 61.6 1325.83 63.05 1327.22 63.13 1286.12 64.33 1257.64 61.07 1180.55 63.57 1183.26 59.97 1141.2 59.67 61.16 1101.6 59.98 1030.71 61.09 1089.41 62.16 1186.69 63.27 1169.43 63.28 1104.49 61.55 1073.87 60.63 1115.1 62.35 1095.63 58 1036.19 57.92 1057.08 54.11 1020.62 55.51 987.48 51.1 919.32 51.94 919.14 49.44 872.81 Page of 9 ZOOM + 6/30/2011 ASSUMPTIONS ASSUMPTIONS 6/30/2011 growth rate ratio, Sales 82,559.00 40,768.00 41,791.00 25,973.00 15,818.00 ratio, Sales The Procter & Gamble Company Annual Income Statement Annual Income Statement Period Ended 6/30/2007 6/30/2008 6/30/2009 6/30/2010 In millions of USD (except for per share items) Net Sales 72,441.00 79,257.00 76,694.00 78,938.00 Cost of Revenue 35,376.00 39,261.00 38,690.00 37,919.00 Gross Profit 37,065.00 39,996.00 38,004.00 41,019.00 Selling / General / Administrative Expense 22,580.00 24,017.00 22,630.00 24,998.00 Operating Income 14,485.00 15,979.00 15,374.00 16,021.00 Interest Income (Expense) -1,304.00 -1,467.00 -1,358.00 -946 Other Non-Operating Income (Expense) 481 373 397 -28 Net Income Before Taxes 13,662.00 14,885.00 14,413.00 15,047.00 Provision for Income Taxes 4,000.00 3,594.00 3,733.00 4,101.00 Net Income After Taxes 9,662.00 11,291.00 10,680.00 10,946.00 Total Extraordinary Items 6781 784 2,756.00 1,790.00 Net Income 10,340.00 12,075.00 13,436.00 12,736.00 Preferred Dividends - 161 -176 -192 -219 Income Available to Common Stocks including 10,179.00 11,899.00 13,244.00 12.517.00 Extraordinary Items Common Dividends -4,209.00 -4,655.00 -5,044.00 -5,458.00 Retained Earnings 5,970.00 7,244.00 8,200.00 7,059.00 82,559.00 40,768.00 41,791.00 25,973.00 15,818.00 -831 202 15,189.00 3,392.00 11,797.00 -831 ratio, Average net debt constant 202 15,189.00 3,392.00 11,797.00 ratio, Net Income Before Taxes 0 constant 0 11,797.00 -233 11,564.00) growth rate 11,797.00 -233 11,564.00 -5,767.00 growth rate -5,767.00 5,797.00 5,797.00 Page of 9 ZOOM + 6/30/2011 ASSUMPTIONS ASSUMPTIONS 6/30/2011 6/30/2012 6/30/2013 6/30/2014 6/30/2015 6/30/2016 2,768.00 2.768.00 0 0 constant constant ratio, Sales ratio, Sales ratio, Sales growth rate 0.00 0.00 0.00 0.00 0.00 6,275.00 7,379.00 4,408.00 1.140.00 21,970.00 2011 21.293.00 57,562.00 32,620.00 4,909.00 138,354.00 8,022.00 5.817.00 6,987.00 2.994.00 ratio, Sales constant constant growth rate 6,275.00 7,379.00 4,408.00 1,140.00 21,970.00 co 21,293.00 57,562.00 32,620.00 4,909.00 138,354.00 8,022.00 5,817.00 6,987.00 2,994.00 0.00 0.00 0.00 0.00 0.00 ratio, Sales ratio, Sales ratio, Sales The Procter & Gamble Company Annual Balance Sheet Annual Balance Sheet Period Ended 6/30/2007 6/30/2008 6/30/2009 6/30/2010 In millions of USD (except for per share items) Cash & Equivalents 5,354.00 3,313.00 4.781.00 2.879.00 Short Term Investments 202 228 0 0 Accounts Receivable - Trade, Net 6,629.00 6,761.00 5,836.00 5,335.00 Total Inventory 17 6,819.00 8,416.00 6.880.00 6,384.00 Prepaid Expenses 3,300.00 3,785.00 21 3.199.00 3,194.00 Other Current Assets, Total 1,727.00 2,012.00 1,209.00 990 Total Current Assets 24,031.00 24,515.00 100 21,905.00 18,782.00 Property/ Plant / Equipment, Total - Net 19,540.00 20,640.00 19,462.00 2 19,244.00 Goodwill, Net 56,552.00 59,767.00 56,512.00 54,012.00 Intangibles, Net 33,626.00 34,233.00 32,606.00 31,636.00 Other Long Term Assets, Total 4,265.00 4,837.00 4,348.00 4.498.00 Total Assets 138,014.00 143.992.00 134,833.00 128, 172.00 Accounts Payable 5,710.00 6,775.00 5.980.00 7.251.00 Accrued Expenses 9,586.00 4,544.00 4 361.00 5 179.00 Notes Payable / Short Term Debt 9,495.00 11 338.00 9,379.00 7.908.00 2 544.00 1,746.00 6.941.00 564 Current Portion of Long Term Debt / Capital Leases Other Current liabilities, Total 3,382.00 6,555.00 4,240.00 3,380.00 Total Current Liabilities 30,717.00 30,958.00 30.901.00 24,282.00 Long Term Debt 23,375.00 23,581.00 20,652.00 21 360.00 Deferred Income Tax 12,015.00 11,805.00 www. 10,752.00 10,902.00 Minority Interest 0 283 324 Pension Benefits - Underfunded 0 3,658.00 5,314.00 6.616.00 Other Long Term Liabilities 5.147.00 4.206.00 3,832.00 3,573.00 Total Liabilities 71 254.00 74,498.00 71,734,00 my 67,057.00 Redeemable Preferred Stock, Total 2013 1,406.00 1.366.00 1,324.00 1,277.00 Common Stock, Total 3.990,00 24 4.002.00 4,007.00 22 12 4,008.00 Additional Paid-In Capital 59,030.00 60 307.00 61 118.00 61,697.00 Retained Earnings (Accumulated Deficit) 41,797.00 B 48.986.00 14 57,309.00 2. 64,614.00 Treasury Stock - Common (Repurchased Stock) -38,772.00 -47,588.00 -55,961.00 -61,309.00 ESOP Debt Guarantee -1, 308.00 -1325.00 -1.340.00 -1.350.00 Other Comprehensive Income 617 3.746.00 3,358.00 -7,822.00 Total Equity 66,760.00 69,494.00 63,099.00 61 115.00 Total Liabilities & Shareholders' Equity 138,014.00 143,992.00 134,833.00 128,172.00 Total Common Shares Outstanding 3.131.95 3,032.72 2.917.04 2,843.47 Net Debt Average Net Debt ratio, Sales growth rate 0.00 0.00 0.001 0.001 0.00 290 ratio, Total Assets growth rate growth rate growth rate growth rate 0.00 0.00 0.00 0.00 0.00 3,473.00 27,293.00 22.033.00 11,070.00 361 6,275.00 3.682.00 70,714.00 1.234.00 4.000.00 62.405.00 70.682.00 -67,278.00 -1,357.00 -2,054.00 67,640.00 138,354.00 2,765.74 constant constant constant 3,473.00 27,293.00 22.033.00 11,070.00 361 6,275.00 3,682.00 70,714.00 1,234.00 4,008.00 62,405.00 70,682.00 can -67.278.00 -1,357.00 -2,054.00 67,640.00 138.354.00 PLUG constant constant 0.00 0.00 0.00 0.001 0.00 0.00 0.00 0.00 0.00 0.00 Net Debt Average Net Debt Page of 9 ZOOM + ble Company Annual Income Statement 6/30/2007 6/30/2008 6/30/2009 6/30/2010 6/30/2011 ASSUMPTIONS ASSUMPTIONS 6/30/2011 6/30/2012) 6/30/2013 6/30/2014) 6/30/2015 6/30/2016 growth rate ratio, Sales 82,559.00 40,768.00 41,791.00 25,973.00 15,818.00 0.00 0.00 0.00 0.001 82,559.00 40,768.000 41,791.00 25,973.000 15,818.00 -831 0.001 ratio, Sales 0.00 0.00 0.00 0.00 0.00 -831 ratio, Average net debt constant 72,441.00 35,376.00 37,065.00 22,580.00 14,485.00 -1,304.00 481 13,662.00 4,000.00 9,662.00 678 10,340.00 -161 10.179.00 79,257.00 39,261.00 39,996.00 24,017.00 15,979.00 -1,467.00 373 14,885.00 3,594.00 11,291.00 784 12,075.00 -176 11,899.00 76,694.00 38,690.00 38,004.00 22,630.00 15,374.00 -1,358.00 397 14,413.00 3,733.00 10,680.00 2,756.00 13,436.00 -192 13,244.00 78,938.00 37,919.00 41,019.00 24,998.00 16,021.00 -946 -28 15,047.00 4,101.00 10,946.00 1,790.00 12,736.00 -219 12,517.00 0.00 0.001 0.00 0.00 0.00 ratio, Net Income Before Taxes , 202 15,189.00 3,392.00 11,797.00 ol 0.00 0.00 0.00 0.00 202 15,189.00 3,392.00 11,797.00 0 11,797.00 -233 11,564.00 0.00 constant 0.00 0.00 0.00 0.00 0.00 growth rate 11,797.00 -233 11,564.00 0.00 0.00 0.00 0.00 0.00 -4.209.00 5,970.00 growth rate -4,655.00 7,244.00 -5,044.00 8,200.00 -5,458.00 7,059.00 -5,767.00 5,797.00 -5,767.00 5,797.00 0.00 0.00 0.00 0.00 0.00 Page of 9 ZOOM + A B D E F Return P&G S&P 500 COMPUTING THE COST OF EQUITY TE FOR PROCTER & GAMBLE USING THE CAPM 1 2 P&G cost of equity calculations 3 P&G beta 4 P&G tax rate, To Date 5 Risk free rate, If 1.00% 7/1/2011 6 Market return, I'm 6/1/2011 7 P&G cost of equity, rep&G 5/2/2011 8 Classic CAPM 4/1/2011 9 Tax-adjusted CAPM 3/1/2011 10 2/1/2011 11 1/3/2011 12 12/1/2010 13 11/1/2010 14 10/1/2010 15 9/1/2010 16 8/2/2010 17 7/1/2010 18 6/1/2010 19 5/3/2010 20 4/1/2010 21 3/1/2010 22 2/1/2010 23 1/4/2010 24 12/1/2009 25 11/2/2009 26 10/1/2009 27 9/1/2009 28 8/3/2009 29 7/1/2009 30 6/1/2009 31 5/1/2009 32 4/1/2009 1049.33 Prices P&G &G S&P 500 61.49 1292.28 63.57 1320.64 67 1345.2 64.9 1363.61 61.6 1325.83 63.05 1327.22 63.13 1286.12 64.33 1257.64 61.07 1180.55 63.57 1183.26 59.97 1141.2 59.67 61.16 1101.6 59.98 1030.71 61.09 1089.41 62.16 1186.69 63.27 1169.43 63.28 1104.49 61.55 1073.87 60.63 1115.1 62.35 1095.63 58 1036.19 57.92 1057.08 54.11 1020.62 55.51 987.48 51.1 919.32 51.94 919.14 49.44 872.81