Finance Assignment

OPM2022studentfile13.xls

IS

EXHIBIT 1
Income Statement (FYE June 30)
	Historical			Projected
	2010	2011	2012	2013	2014	2015
Net Sales	1344	1572	1934
Cost of Goods Sold
Raw Material	454	527	636
Direct Labor	449	515	641
Total Cost of Goods Sold	884	1043	1277
Gross Profit	460	529	657
Operating Expenses:
Indirect Labor	196	218	280
G&A	133	152	177
Total Operating Expenses	329	371	456
EBITDA	131	158	201				- 0
Depreciation & Amort.	28	32	46
EBIT	103	126	155
Interest Expenses	33	38	46
Commitment Fee
Pretax Income	70	89	109
Taxes	21	27	33
Net Income	49	62	76
Dividend
Increase in Retained Earnings
Sales Growth	5.0%	17.0%	23.0%
Gross Profit Margin	34.2%	33.7%	34.0%
G&A/Sales	9.9%	9.7%	9.2%
EBITDA Margin	9.7%	10.1%	10.4%
EBIT Margin	7.7%	8.0%	8.0%
Net Income Margin	3.6%	3.9%	3.9%
EBIT/Interest	3.12	3.32	3.37

EXHIBIT 2
Balance Sheet Statement (FYE June 30)
	Historical			Projected
	2010	2011	2012	2013	2014	2015
Assets
Current Assets
Checking/Savings	46	28	12
Accounts Receivable	170	197	233
Raw Material	406	477	576
Work-In-Process	118	141	151
Finished Goods	35	29	39
Other Current Assets	15	20	34
Total Current Assets	790	892	1047
Non-Current Assets
Gross PP&E	460	561	666
Accumulated Despreciation	163	195	241
Net PP&E	297	366	426
Other Non-Current Assets	215	215	215
Total Non-Current Assets	512	581	641
Total Assets	1303	1473	1687
Liabilities
Current Liabilities
Accounts Payable	53	53	75
Accrued Expenses	63	67	92
Total Current Liabilities	116	119	168
Non-Current Liabilities
Revolving Credit	416	481	570
Equipment Loan
Loan 1
Loan 2
Loan 3
Loan 4
Total Equipment Loan
Total Non-Current Liabilities	416	481	570
Total Liabilities	532	600	738
Equity
Common Stock	480	480	480
Preferred Stock	100	140	140
Retained Earnings	191	253	330
Total Equity	771	873	950
Total Liabilities + Equity	1303	1473	1687
Days Receivable	46	46	44
Days Inventory	231	226	219
Days Payable	22	19	21
New PP&E		101	105

EXHIBIT 3
Cash Flow Statement (FYE June 30)
	Historical			Projection
	2010	2011	2012	2013	2014	2015
Cash Flow From Operating Activities
Net Income after Dividend	49	62	76
(+) Depreciation and Amortization	28	32	46
(-) Increase in Operating Assets:
Accounts Receivable	10	27	36
Raw Material	22	71	99
Work in Process	16	23	10
Finished Goods	10	-6	10
Other Current Assets	-5	5	14
(+) Increase in Operating Liabilities
Account Payable	8	0	22
Accrued Expense	5	4	25
Net Cash Change From Operating Activities	37	-22	0
Cash Flow from Investing Activities
Capital Expenditure(PP&E)	154	101	105
Cash Flow from Financing Activities
Proceeds from (Repayment of) Debt	32	65	89
Proceeds from Common Stock	0	0	0
Proceeds from Preferred Stock	100	40	0
Net Cash Change from Financing Activities	132	105	89
Increase (Decrease) in Cash and Equivalents	15	-18	-16
Cash and Equivalents, Beginning of Year	31	46	28
Cash and Equivalents, End of Year	46	28	12