Target Capital Structure: Debt 35% Equity 65% Number of Shares Oustanding 3,000,000 Quarter Expected Net Income Expected Capital Needs Req. equity Dist. Paid Q1 2021 1,700,000 850,000 $ 552,500 $ 1,147,500 Q2 2021 1,900,000 850,000 $ 552,500 $ 1,347,500 Q3 2021 1,850,000 1,100,000 $ 715,000 $ 1,135,000 Q4 2021 2,150,000 850,000 $ 552,500 $ 1,597,500 Q1 2022 2,050,000 850,000 $ 552,500 $ 1,497,500 Q2 2022 2,050,000 1,150,000 $ 747,500 $ 1,302,500 Q3 2022 1,950,000 850,000 $ 552,500 $ 1,397,500 Q4 2022 2,250,000 850,000 $ 552,500 $ 1,697,500