Solution
Nitish Lath answered on
Apr 27 2021
Sheet1
Assumptions
% of sales
Revenue growth rate 6% Cash 2%
COGS
evenue 64.80% A/R 21.40%
Fixed operating expenses 2000000 Inventory 32.70%
VC
evenue 16% NPPE 43%
Dep/FA at t-1 10% Investments 3000000
Non- operating income/investments at t-1 10% AP 22.80%
Int
o
owings (Interest bearing) at t-1 7% ST debt 20.30%
Tax rate 40%
Dividend paid 200,000
Defe
ed tax/tax liability 2%
WACC 15%
Balance sheets
2010 2011 2012 2013 2014 2015 2016 2017 2018
Cash and marketable securities 624,000 650,000 702,500 744,385 789,048 836,391 886,574 939,769 996,155
AR 6,651,500 7,102,000 7,408,738 8,113,797 8,442,815 8,949,384 9,486,347 10,055,527 10,658,859
Inventories 10,001,000 10,643,000 11,938,250 12,282,353 12,900,936 13,674,993 14,495,492 15,365,222 16,287,135
Cu
ent assets 17,276,500 18,395,000 20,049,488 21,140,535 22,132,799 23,460,767 24,868,413 26,360,518 27,942,149
NPPE 13,437,500 14,243,750 15,098,375 16,004,278 16,964,534 17,982,406 19,061,351 20,205,032 21,417,334
Investments 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000
Total assets 33,714,000 35,638,750 38,147,863 40,144,813 42,097,333 44,443,173 46,929,764 49,565,550 52,359,483
AP 7,812,500 8,281,250 8,778,125 8,800,100 8,995,148 9,534,857 10,106,949 10,713,366 11,356,168
S-T debt 6,875,000 7,287,500 7,724,750 8,188,235 8,008,838 8,489,369 8,998,731 9,538,654 10,110,974
Cu
ent liabilities 14,687,500 15,568,750 16,502,875 16,988,335 17,003,987 18,024,226 19,105,679 20,252,020 21,467,141
L-T liabilities 4,603,061 4,563,719 4,504,195 4,464,966 4,541,500 3,784,440 2,871,702 1,782,809 502,032
Total liabilities 19,290,561 20,132,469 21,007,070 21,453,301 21,545,487 21,808,666 21,977,381 22,034,829 21,969,174
Defe
ed income taxes 329,749 346,629 358,778 370,372 397,481 427,517 453,168 480,358 509,179
Common...