This is all that was provided. Hence I am confused also and posting on this forum as well. I cannot attach the actual Sula Vineyards case due to plaigarism issues from Havard. But there is a statement saying forecasted growth rate is 20-25%. If you have access to Sula case or have done it already would be ideal. Thanks.

Sula Vineyards Case Q 12: Evaluate scenario C presented in exhibits 11 16 (Exhibit 13 is provided in excel as a starting point). Create a pro forma income statement and balance sheet for Scenario C for 2008-2012 based on data from case exhibits 5-14. If external financing is needed, use the category Additional Funds Needed (AFN) on the projected balance sheet as your plug figure. If excess funds are generated, created a short-term asset called Short Term Investment in order to balance the balance sheets. What conclusions can you draw from your analysis?

This forum does not seem to allow direct uploads. The Sula Vineyards case is a generic HBR case study. I have uploaded the materials provided to us.

Exh 13 - Scenario C ($K)	%
		2008	2009	2010	2011	2012
Revenue (To be estimated by you)
Cost of Goods Sold
Purchases	20.0%
Manufacturing and Operating Expenses	18.0%
Direct labor	7.6%
Total Cost of Goods Sold		$0	$0	$0	$0	$0
Gross Margin
Administrative Expenses	7.6%
Selling and Marketing Expenses	20.0%
Sales Taxes	8.3%
Total Expenses		$0	$0	$0	$0	$0
EBITDA
Depreciation
EBIT
Interest and Finance Costs
PBT
Provision for Taxes (10%)
Net Income
		2008	2009	2010	2011	2012
Assets:
Current Assets:
Cash	2.6%
Accounts Receivable	24.0%
Inventories	83.0%
Loans and Advances	7.6%
Total Current Assets
Fixed Assets:
Property Plant and Equipment	59.0%
(Based on weighted avg asset life, straight-line in years)	11 Years
Less: Accumulated Depre & Amortiz.
Net Property Plant and Equipment
Other Assets	0.9%
Total Assets
Liabilities and Equity:
Current Liabilities:
Accounts Payable	4.1%
Other Liabilities	1.4%
Notes Payable (Bank)
Accrued Expenses	4.4%
Total Current Liabilities
Secured Loans (Net)- % of PPE	95.0%
Deferred Tax Liability (Net)
Total Long Term Commitments
Equity
Share Capital
Capital Surplus
Retained Earnings
Total Equity
Total Liabilities and Equity

Exh 6 ($K)
	2003	2004	2005	2006	2007
Assets:
Current Assets:
Cash	$51	$77	$114	$142	$183
Accounts Receivable	$196	$463	$788	$1,091	$1,455
Inventories	$728	$1,817	$2,835	$4,105	$5,771
Loans and Advances	$97	$201	$323	$407	$545
Total Current Assets	$1,072	$2,558	$4,060	$5,745	$7,954
Fixed Assets:
Property Plant and Equipment	$863	$1,542	$1,877	$3,386	$4,253
Less: Accumulated Depre & Amortiz.	$79	$131	$196	$277	$408
Net Property Plant and Equipment	$784	$1,411	$1,681	$3,109	$3,845
Other Assets	11	21	38	51	63
Total Assets	$1,867	$3,990	$5,779	$8,905	$11,862
Liabilities and Equity:
Current Liabilities:
Accounts Payable	$42	$93	$152	$192	$282
Other Liabilities	$12	$32	$46	$63	$96
Notes Payable (Bank)	$838	$1,721	$2,563	$2,660	$4,011
Accrued Expenses	$45	$98	$157	$196	$288
Total Current Liabilities	$937	$1,944	$2,918	$3,111	$4,677
Secured Loans (Net)	$900	$2,100	$2,900	$2,300	$3,500
Deferred Tax Liability (Net)	$0	$0	$2	$3	$0
Total Long Term Commitments	$900	$2,100	$2,902	$2,303	$3,500
Equity:
Share Capital	$200	$200	$200	$300	$300
Capital Surplus	$400	$400	$400	$3,800	$3,800
Retained Earnings	-$570	-$654	-$641	-$609	-$415
Total Equity	$30	-$54	-$41	$3,491	$3,685
Total Liabilities and Equity	$1,867	$3,990	$5,779	$8,905	$11,862

Exh 5 ($K)
	2003	2004	2005	2006	2007
Revenue	$1,026	$2,297	$3,761	$4,946	$6,867
Cost of Goods Sold
Purchases	$204	$478	$752	$1,037	$1,456
Manufacturing and Operating Expenses	$227	$488	$786	$1,034	$1,380
Direct labor	$94	$203	$317	$404	$542
Total Cost of Goods Sold	$525	$1,169	$1,855	$2,475	$3,378
Gross Margin	$501	$1,128	$1,906	$2,471	$3,489
Administrative Expenses	$117	$277	$421	$583	$728
Selling and Marketing Expenses	$204	$498	$806	$1,088	$1,511
Sales Taxes	$78	$192	$305	$414	$563
Total Expenses	$399	$967	$1,532	$2,085	$2,802
EBITDA	$102	$161	$374	$386	$687
Depreciation	$33	$52	$65	$81	$131
EBIT	$69	$109	$309	$305	$556
Interest and Finance Costs	$78	$193	$294	$270	$340
PBT	-$9	-$84	$15	$35	$216
Provision for Taxes (10%)	$0	$0	$1	$3	$21
Net Income	-$9	-$84	$14	$32	$195