Sales COGS Gross Margin Expenses EBIT Interest (12%) EBT Inc Tax (43%) Net Income Cash A/R Inventory Fixed Assets Total EAGLE OUTFITTERS PROJECTED INCOME STATEMENT 2011 $250,000 140,000 110,000 52,000 58,000 9,642 48,358 20,794 27,564 ASSETS 2011 100.0% 56.0% 44.0% 150,000 $330,000 20.8% 23.2% 3.9% 19.3% 8.3% 11.0% Dividends 2012 $21,800 76,389 $20,000 70,000 90,000 12.00-01.00 2012 $275,000 148,500 126,500 57,200 69,300 69,300 29,799 39,501 EAGLE OUTFITTERS PROJECTED BALANCE SHEET 9,875 10.0% 54.0% 14 10.0% 12.0% 43.0% 25.0% 9.0% Accounts Payable 3.6 Debt 250 LIABILITIES & EQUITY Common Stock 1.6 Retained Earnings Total Income Statement Assumptions 1) A 10% increase in sales 2) The gross profit margin is 46%. 3) Operating expenses as a percentage of sales will remain the same as last year. 4) The dividend payout ratio is 25%. Use formulas to link to factors in column F Balance Sheet Assumptions 1) Cash is 9% of sales, 2) Accounts Receivable turnover is 3.6. 3) The inventory period is 250 days. 4) Fixed asset turnover is 1.6. 5) The A/P period is 150 days. 4) Eagle issues 10,000 in common stock. 2011 $60,000 110,000 40,000 120,000 $330,000 2012 150

EAGLE OUTFITERS PROJECTED INCOME STATEMENT Income Statement Assumptions 1) A 10% increase in sales 2) The gross profit margin is 46%. 3) Operabng expenses as a percentoge of sales will remain the same as last year. 4) The dividend payout ratio is 25%. Use formulas to link to factors in column "F" Balance Sheet Assumptions 1) Cash is 9% of sales. 2) Accounts Receivable turnover is 3.6 . 3) The inventory period is 250 days. 4) Fixed asset turnover is 1.6. 5) The AP period is 150 days. 4) Eagle isaues 10,000 in common atock