Business finance

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Ex1

Name
Date of birth (ddmmyyyy)			17091996
		Assumptions		1. Sales will grow	17.092%	Next year
		Ex 1:	Fill the numbers for 2018 based on percent of sales method
			Answer the question below
			Income statement
				2017	2018
			Sales	1000
			Cost of sales (not incl depreciation)	500
			EBITDA	500
			Depreciation	200
			EBIT	300
			Interest expenses	50
			Pretax income	250
			Income tax (35%)	87.5
			Net Income	162.5
	Question		On how much (%) the net income will grow next year?

Name
Date of birth (ddmmyyyy)		17091996
		Assumptions		1. Percent of sales method
				2. Dividend rate 0% in 2017,	Dividend rate 2018	17.092%
		Task
		Complete pro forma balance sheet for 2018
		Calculate net new financing required in 2018 (hint: it is a difference between [assets - (liabilities+equity)] in 2018)
		hint2: equity 2018=equity 2017 + retained earnings in 2018
	Additional info from income statement
		Sales	1000	1171
		Net Income	162.5	207
	PRO FORMA BALANCE SHEET
	ASSETS		2017	2018
		Current assets
		cash	50
		accounts receivable	50
		inventories	400
		Total: Current assets	500
		Long term assets	500
		Total	1000
	LIABILITIES
		Current liabilities	200
		Debt	300
		Total	500
	EQUITY
		Stockholders Equity	500
		Total: Equity	500
	Total Liabilities and Equity		1000
	Net new financing required in 2018