Transcript OVERVIEW

Financial Modeling Overview
Presented to:
October15, 2010
AGENDA
2
I.
Modeling Overview
II.
Income Statement
III.
Balance Sheet
IV.
Cash Flow Statement
V.
Supporting Schedules
I.
Depreciation and Amortization
II.
Debt
OVERVIEW
3

We’re given a basic income statement and balance sheet

We need to forecast :

Income statement

Balance sheet

PP&E and capex needs

Debt page

After we finish with projections, we need to tie the statements together

Ensure that the balance sheet balances
INCOME STATEMENT

Step 1, forecast income statement
Acme Manufacturing
Income Statement
($ in 000's)
15,000
10,000
40.0%
2008
26,000
4.0%
15,600
10,400
40.0%
2009
28,000
7.7%
16,800
11,200
40.0%
6,000
500
100
3,400
13.6%
24.0%
6,250
600
100
3,450
13.3%
24.0%
6,800
700
100
3,600
12.9%
24.3%
0
0
0
0
0
0
0
0
0
Taxes 40.0%
Net Income
1,360
2,040
1,380
2,070
1,440
2,160
EBITDA
Opearting Profit
Depreciation
Amortization
EBITDA
EBITDA Margin
3,400
500
100
4,000
16.0%
3,450
600
100
4,150
16.0%
3,600
700
100
4,400
15.7%
Sales
Growth Rate
COGS
Gross Profit
Gross Profit Margin
SG&A
Depreciation
Amortization
Operating Profit
Operating Profit Margin
SG&A as a % of Sales
Interest Expense/Income
Interest Expense
Interest Income
Total Interest Income (Expense)
4
2007
25,000
2010
2011
2012
2013
2014
INCOME STATEMENT

Step 1, should look like this
Acme Manufacturing
Income Statement
($ in 000's)
15,000
10,000
40.0%
2008
26,000
4.0%
15,600
10,400
40.0%
2009
28,000
7.7%
16,800
11,200
40.0%
2010
29,400
5.0%
17,640
11,760
40.0%
2011
30,870
5.0%
18,522
12,348
40.0%
2012
32,414
5.0%
19,448
12,965
40.0%
2013
34,034
5.0%
20,421
13,614
40.0%
2014
35,736
5.0%
21,442
14,294
40.0%
6,000
500
100
3,400
13.6%
24.0%
6,250
600
100
3,450
13.3%
24.0%
6,800
700
100
3,600
12.9%
24.3%
7,140
7,497
7,872
8,265
8,679
4,620
15.7%
24.3%
4,851
15.7%
24.3%
5,094
15.7%
24.3%
5,348
15.7%
24.3%
5,616
15.7%
24.3%
0
0
0
0
0
0
0
0
0
Taxes 40.0%
Net Income
1,360
2,040
1,380
2,070
1,440
2,160
1,848
2,772
1,940
2,911
2,037
3,056
2,139
3,209
2,246
3,369
EBITDA
Opearting Profit
Depreciation
Amortization
EBITDA
EBITDA Margin
3,400
500
100
4,000
16.0%
3,450
600
100
4,150
16.0%
3,600
700
100
4,400
15.7%
4,620
0
0
4,620
15.7%
4,851
0
0
4,851
15.7%
5,094
0
0
5,094
15.7%
5,348
0
0
5,348
15.7%
5,616
0
0
5,616
15.7%
Sales
Growth Rate
COGS
Gross Profit
Gross Profit Margin
SG&A
Depreciation
Amortization
Operating Profit
Operating Profit Margin
SG&A as a % of Sales
Interest Expense/Income
Interest Expense
Interest Income
Total Interest Income (Expense)
5
2007
25,000
BALANCE SHEET

Step 2, forecast balance sheet
Acme Manufacturing
Balance Sheet
($ in 000's)
2007
2008
2009
Assets
Current Assets
Cash
Accounts Receivable
Inventory
Prepaids and Other
Current Assets
2,000
3,000
2,000
1,000
8,000
1,200
3,300
3,000
1,150
8,650
1,080
3,750
4,000
1,323
10,153
Plant Property & Equipment, Net
Goodwill and Intangibles, Net
Other Long Term Assets
4,550
4,500
50
5,250
4,000
60
4,100
3,500
70
17,100
17,960
17,823
Liabilities & Owners Equity
Current Liabilities
Accounts Payable
Accrued Expenses
Other Current Liabilities
Current Assets
1,000
1,500
500
3,000
1,100
1,725
575
3,400
1,200
1,984
661
3,845
Other Long Term Liabilities
65
70
75
0
6,935
6,000
525
5,285
6,200
653
2,930
6,400
1,000
100
17,100
0.000
1,000
1,480
17,960
0.000
1,000
2,920
17,823
0.000
Total Assets
Revoliving Line of Credit
Senior Loan
Subordinated Debt
Equity
Common and add'l paid in capital
Retained earnings
Total Liabilities & Owners Equity
Check
Working Capital Ratios
Working Capital
Change in WC
AR Days
Inventory Turnover
Other current assets as % of Sales
Other Long Term Assets as % of Sales
A/P Days Sales Outstanding
Accrued Expenses as a % of COGS
Other Current Liabilities as a % of COGS
Other Long Term Liabilities as a % of COGS
6
2010
2011
2012
2013
2014
BALANCE SHEET

Step 2, should look like this
Acme Manufacturing
Balance Sheet
($ in 000's)
2007
2008
2009
Assets
Current Assets
Cash
Accounts Receivable
Inventory
Prepaids and Other
Current Assets
2,000
3,000
2,000
1,000
8,000
1,200
3,300
3,000
1,150
8,650
1,080
3,750
4,000
1,323
10,153
Plant Property & Equipment, Net
Goodwill and Intangibles, Net
Other Long Term Assets
4,550
4,500
50
5,250
4,000
60
4,100
3,500
70
17,100
17,960
17,823
Liabilities & Owners Equity
Current Liabilities
Accounts Payable
Accrued Expenses
Other Current Liabilities
Current Assets
1,000
1,500
500
3,000
1,100
1,725
575
3,400
1,200
1,984
661
3,845
Other Long Term Liabilities
65
70
75
0
6,935
6,000
525
5,285
6,200
653
2,930
6,400
1,000
100
17,100
0.000
1,000
1,480
17,960
0.000
1,000
2,920
17,823
0.000
3,000
4,050
1,050
46.33
0.00
4.4%
0.2%
25.74
11.1%
3.7%
0.4%
5,228
1,178
48.88
0.00
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
Total Assets
Revoliving Line of Credit
Senior Loan
Subordinated Debt
Equity
Common and add'l paid in capital
Retained earnings
Total Liabilities & Owners Equity
Check
Working Capital Ratios
Working Capital
Change in WC
AR Days
Inventory Turnover
Other current assets as % of Sales
Other Long Term Assets as % of Sales
A/P Days Outstanding
Accrued Expenses as a % of COGS
Other Current Liabilities as a % of COGS
Other Long Term Liabilities as a % of COGS
7
43.80
0.00
4.0%
0.2%
24.33
10.0%
3.3%
0.4%
2010
2011
2012
2013
2014
0
(5,228)
48.88
0.00
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
0
0
48.88
0.00
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
0
0
48.88
0.00
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
0
0
48.88
0.00
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
0
0
48.88
0.00
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
BALANCE SHEET

Step 2, now we can forecast portions of the balance sheet to look like this
Acme Manufacturing
Balance Sheet
($ in 000's)
2007
2008
2009
2010
2011
2012
2013
2014
Assets
Current Assets
Cash
Accounts Receivable
Inventory
Prepaids and Other
Current Assets
2,000
3,000
2,000
1,000
8,000
1,200
3,300
3,000
1,150
8,650
1,080
3,750
4,000
1,323
10,153
3,938
4,200
1,389
9,526
4,134
4,410
1,458
10,002
4,341
4,631
1,531
10,503
4,558
4,862
1,608
11,028
4,786
5,105
1,688
11,579
Plant Property & Equipment, Net
Goodwill and Intangibles, Net
Other Long Term Assets
4,550
4,500
50
5,250
4,000
60
4,100
3,500
70
74
77
81
85
89
17,100
17,960
17,823
9,600
10,080
10,584
11,113
11,668
Liabilities & Owners Equity
Current Liabilities
Accounts Payable
Accrued Expenses
Other Current Liabilities
Current Assets
1,000
1,500
500
3,000
1,100
1,725
575
3,400
1,200
1,984
661
3,845
1,260
2,083
694
4,037
1,323
2,187
729
4,239
1,389
2,296
765
4,451
1,459
2,411
804
4,674
1,532
2,532
844
4,907
Other Long Term Liabilities
65
70
75
79
83
87
91
96
0
6,935
6,000
525
5,285
6,200
653
2,930
6,400
1,000
100
17,100
0.000
1,000
1,480
17,960
0.000
1,000
2,920
17,823
0.000
1,000
5,692
10,808
1,000
8,603
13,924
1,000
11,659
17,197
1,000
14,868
20,632
1,000
18,237
24,240
3,000
4,050
1,050
46.33
5.20
4.4%
0.2%
25.74
11.1%
3.7%
0.4%
5,228
1,178
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
5,489
261
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
5,763
274
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
6,051
288
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
6,354
303
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
6,672
318
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
Total Assets
Revoliving Line of Credit
Senior Loan
Subordinated Debt
Equity
Common and add'l paid in capital
Retained earnings
Total Liabilities & Owners Equity
Check
Working Capital Ratios
Working Capital
Change in WC
AR Days
Inventory Turnover
Other current assets as % of Sales
Other Long Term Assets as % of Sales
A/P Days Outstanding
Accrued Expenses as a % of COGS
Other Current Liabilities as a % of COGS
Other Long Term Liabilities as a % of COGS
8
43.80
7.50
4.0%
0.2%
24.33
10.0%
3.3%
0.4%
PP&E, CAPEX, AND DEPRECIATION

Step 3, now we turn to PP&E, capital expenditures and depreciation
Acme Manufacturing
Depreciation and Amortization
($ in 000's)
Years Average Life of Depreciation - Existing Assets
Years Average Life of Depreciation - New Expenditures
7
5
2007
2008
2010
2011
2012
2013
2014
Total Depreciation on New Capex
Total Depreciation
0
0
0
0
0
0
0
0
0
0
Plant Property & Equipment
Gross Plant Property & Equipment
Capex
Depreciation
Plant Property & Equipment, Net
4,100
4,100
0
0
4,100
4,100
0
0
4,100
4,100
0
0
4,100
4,100
0
0
4,100
4,100
0
0
4,100
3,500
3,500
500
3,000
3,000
500
2,500
2,500
500
2,000
2,000
500
1,500
1,500
500
1,000
Beginning Depreciable Assets - Net
Depreciation of Existing Assets
2009
4,100
Capital Expenditures - Year 1
Capital Expenditures - Year 2
Capital Expenditures - Year 3
Capital Expenditures - Year 4
Capital Expenditures - Year 5
Goodwill and Intangibles
Goodwill and Intangibles
Amortization
Goodwill and Intangibles
9
4,550
4,500
5,250
4,000
PP&E, CAPEX, AND DEPRECIATION

Step 3, should look like this
Acme Manufacturing
Depreciation and Amortization
($ in 000's)
Years Average Life of Depreciation - Existing Assets
Years Average Life of Depreciation - New Expenditures
7
5
2007
2008
2010
2011
2012
2013
2014
586
586
586
586
586
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
Total Depreciation on New Capex
Total Depreciation
200
786
400
986
600
1,186
800
1,386
1,000
1,586
Plant Property & Equipment
Gross Plant Property & Equipment
Capex
Depreciation
Plant Property & Equipment, Net
4,100
4,100
1,000
786
4,314
4,314
1,000
986
4,329
4,329
1,000
1,186
4,143
4,143
1,000
1,386
3,757
3,757
1,000
1,586
3,171
3,500
3,500
500
3,000
3,000
500
2,500
2,500
500
2,000
2,000
500
1,500
1,500
500
1,000
Beginning Depreciable Assets - Net
Depreciation of Existing Assets
Capital Expenditures - Year 1
Capital Expenditures - Year 2
Capital Expenditures - Year 3
Capital Expenditures - Year 4
Capital Expenditures - Year 5
Goodwill and Intangibles
Goodwill and Intangibles
Amortization
Goodwill and Intangibles
10
2009
4,100
1,000
1,000
1,000
1,000
1,000
4,550
4,500
5,250
4,000
INCOME STATEMENT

Step 4, link depreciation and amortization
Acme Manufacturing
Income Statement
($ in 000's)
15,000
10,000
40.0%
2008
26,000
4.0%
15,600
10,400
40.0%
2009
28,000
7.7%
16,800
11,200
40.0%
2010
29,400
5.0%
17,640
11,760
40.0%
2011
30,870
5.0%
18,522
12,348
40.0%
2012
32,414
5.0%
19,448
12,965
40.0%
2013
34,034
5.0%
20,421
13,614
40.0%
2014
35,736
5.0%
21,442
14,294
40.0%
6,000
500
100
3,400
13.6%
24.0%
6,250
600
100
3,450
13.3%
24.0%
6,800
700
100
3,600
12.9%
24.3%
7,140
786
500
3,334
11.3%
24.3%
7,497
986
500
3,365
10.9%
24.3%
7,872
1,186
500
3,408
10.5%
24.3%
8,265
1,386
500
3,463
10.2%
24.3%
8,679
1,586
500
3,530
9.9%
24.3%
0
0
0
0
0
0
0
0
0
Taxes 40.0%
Net Income
1,360
2,040
1,380
2,070
1,440
2,160
1,334
2,001
1,346
2,019
1,363
2,045
1,385
2,078
1,412
2,118
EBITDA
Opearting Profit
Depreciation
Amortization
EBITDA
EBITDA Margin
3,400
500
100
4,000
16.0%
3,450
600
100
4,150
16.0%
3,600
700
100
4,400
15.7%
3,334
786
500
4,620
15.7%
3,365
986
500
4,851
15.7%
3,408
1,186
500
5,094
15.7%
3,463
1,386
500
5,348
15.7%
3,530
1,586
500
5,616
15.7%
Sales
Growth Rate
COGS
Gross Profit
Gross Profit Margin
SG&A
Depreciation
Amortization
Operating Profit
Operating Profit Margin
SG&A as a % of Sales
Interest Expense/Income
Interest Expense
Interest Income
Total Interest Income (Expense)
11
2007
25,000
CASH FLOW STATEMENT

Step 5, assemble cash flow statement through investing activities
Acme Manufacturing
Cash Flow Statement
($ in 000's)
2010
2011
2012
2013
2014
Cash Flow from Operations
Sources
Net Income
Depreciation
Amortization
PIK Interest
Uses
Change in Working Capital
Change in Other
Total Cash Flow After Operations
2009
0
0
0
0
0
Cash Flow Investing
Capital Expenditures
Total Cash Flow After Investing
0
0
0
0
0
Cash Flow Financing
Draw (Amort) Revolver
Senior Term A Debt Amortization
Subordinated Debt Amortization
Total Cash Flow After Financing
0
0
0
0
0
1,080
0
1,080
1,080
0
1,080
1,080
0
1,080
1,080
0
1,080
1,080
0
1,080
Net Change in Cash
Beginning Cash Balance
Change in Cash Flow
Ending Cash Balance
12
1,080
CASH FLOW STATEMENT

Step 5, should look like this
Acme Manufacturing
Cash Flow Statement
($ in 000's)
2009
Cash Flow from Operations
Sources
Net Income
Depreciation
Amortization
PIK Interest
Uses
Change in Working Capital
Change in Other
Total Cash Flow After Operations
Cash Flow Investing
Capital Expenditures
Total Cash Flow After Investing
Cash Flow Financing
Draw (Amort) Revolver
Senior Term A Debt Amortization
Subordinated Debt Amortization
Total Cash Flow After Financing
Net Change in Cash
Beginning Cash Balance
Change in Cash Flow
Ending Cash Balance
13
1,080
2010
2011
2012
2013
2014
2,001
786
500
2,019
986
500
2,045
1,186
500
2,078
1,386
500
2,118
1,586
500
261
(0)
3,025
274
(0)
3,231
288
(0)
3,443
303
(0)
3,661
318
(0)
3,886
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
0
0
0
0
0
1,080
2,025
3,105
3,105
2,231
5,336
5,336
2,443
7,778
7,778
2,661
10,439
10,439
2,886
13,326
DEBT

Step 6, put together the debt page
Acme Manufacturing
Debt
($ in 000's)
2009
Cash Flow Available for Financing Activities
Plus: Beginning Cash Balance
Less: Minimum Cash Balance
Cash Available for Debt Repayment
Senior Term A
Beg. Balance
Scheduled Amortization
Additional Amortization
Ending Balance
Interest Rate
Interest Expense
Subordinated Debt
Beg. Balance
PIK Interest
Amortization
Ending Balance
PIK Interest Rate
Cash Interest Rate
Interest Expense
2011
2012
2013
2014
0
0
0
0
0
2,930
2,930
2,930
0
0
0
0
7
10
75.0%
Maturity (years)
Amortization (years)
Bullet Payment (?)
Bullet Payment YR
7
10
Y
2014
6,400
6,400
6,400
0
0
0
0
2.0%
12.0%
0
Beg. Balance
Draw/(Repayments)
Ending Balance
653
653
0
0
0
0
Interest Expense
8.0%
52
0
0
0
0
Credit Statistics
Total Senior Debt
Total Debt
Total Senior Cash Interest
Total Cash Interest
EBITDA
Senior Debt / EBITDA
Total Debt / EBITDA
EBITDA / Senior Cash Interest
EBITDA / Total Cash Interest
Maturity (years)
Amortization (years)
Cash Flow Sweep Avail
8.0%
Revolver
Cash Available to Sweep to Revolver
14
2010
653
DEBT

Step 6, should look like this
Acme Manufacturing
Debt
($ in 000's)
2009
Cash Flow Available for Financing Activities
Plus: Beginning Cash Balance
Less: Minimum Cash Balance
Cash Available for Debt Repayment
Senior Term A
Beg. Balance
Scheduled Amortization
Additional Amortization
Ending Balance
Interest Rate
Interest Expense
Subordinated Debt
Beg. Balance
PIK Interest
Amortization
Ending Balance
PIK Interest Rate
Cash Interest Rate
Interest Expense
2,930
2011
2012
2013
2014
2,025
1,080
(50)
3,055
2,231
0
(49)
2,182
2,443
0
(48)
2,395
2,661
0
(47)
2,614
2,886
0
(46)
2,840
2,930
(293)
(2,291)
346
346
(293)
(53)
0
0
0
0
0
0
0
0
0
0
0
0
0
131
14
0
0
0
6,400
128
0
6,528
6,528
131
0
6,659
6,659
133
0
6,792
6,792
136
0
6,928
6,928
139
(7,066)
0
776
791
807
823
416
471
1,836
2,395
2,614
(4,226)
182
(182)
0
0
0
0
0
0
0
0
4,226
4,226
0
0
0
338
6,400
2.0%
12.0%
Beg. Balance
Draw/(Repayments)
Ending Balance
653
653
(471)
182
Interest Expense
8.0%
15
Credit Statistics
Total Senior Debt
Total Debt
Total Senior Cash Interest
Total Cash Interest
EBITDA
Senior Debt / EBITDA
Total Debt / EBITDA
EBITDA / Senior Cash Interest
EBITDA / Total Cash Interest
Maturity (years)
Amortization (years)
Cash Flow Sweep Avail
7
10
75.0%
Maturity (years)
Amortization (years)
Bullet Payment (?)
Bullet Payment YR
7
10
Y
2014
8.0%
Revolver
Cash Available to Sweep to Revolver
15
2010
527
7,055
146
921
4,620
0.11x
1.53x
31.74x
5.01x
0
6,659
14
805
4,851
0.00x
1.37x
350.88x
6.03x
0
6,792
0
807
5,094
0.00x
1.33x
N/M
6.31x
0
6,928
0
823
5,348
0.00x
1.30x
N/M
6.50x
4,226
4,226
338
754
5,616
0.75x
0.75x
16.61x
7.45x
INCOME STATEMENT

Step 7, link interest expense
Acme Manufacturing
Income Statement
($ in 000's)
15,000
10,000
40.0%
2008
26,000
4.0%
15,600
10,400
40.0%
2009
28,000
7.7%
16,800
11,200
40.0%
2010
29,400
5.0%
17,640
11,760
40.0%
2011
30,870
5.0%
18,522
12,348
40.0%
2012
32,414
5.0%
19,448
12,965
40.0%
2013
34,034
5.0%
20,421
13,614
40.0%
2014
35,736
5.0%
21,442
14,294
40.0%
6,000
500
100
3,400
13.6%
24.0%
6,250
600
100
3,450
13.3%
24.0%
6,800
700
100
3,600
12.9%
24.3%
7,140
786
500
3,334
11.3%
24.3%
7,497
986
500
3,365
10.9%
24.3%
7,872
1,186
500
3,408
10.5%
24.3%
8,265
1,386
500
3,463
10.2%
24.3%
8,679
1,586
500
3,530
9.9%
24.3%
0
0
0
0
0
0
0
0
0
943
0
943
818
0
818
807
0
807
823
0
823
416
0
416
Taxes 40.0%
Net Income
1,360
2,040
1,380
2,070
1,440
2,160
956
1,435
1,019
1,528
1,040
1,560
1,056
1,584
1,246
1,869
EBITDA
Opearting Profit
Depreciation
Amortization
EBITDA
EBITDA Margin
3,400
500
100
4,000
16.0%
3,450
600
100
4,150
16.0%
3,600
700
100
4,400
15.7%
3,334
786
500
4,620
15.7%
3,365
986
500
4,851
15.7%
3,408
1,186
500
5,094
15.7%
3,463
1,386
500
5,348
15.7%
3,530
1,586
500
5,616
15.7%
Sales
Growth Rate
COGS
Gross Profit
Gross Profit Margin
SG&A
Depreciation
Amortization
Operating Profit
Operating Profit Margin
SG&A as a % of Sales
Interest Expense/Income
Interest Expense
Interest Income
Total Interest Income (Expense)
16
2007
25,000
Circ
1
CASH FLOW STATEMENT

Step 8, finish our cash flow statement
Acme Manufacturing
Cash Flow Statement
($ in 000's)
2009
2010
2011
2012
2013
2014
1,435
786
500
128
1,528
986
500
131
1,560
1,186
500
133
1,584
1,386
500
136
1,869
1,586
500
139
261
(0)
2,587
274
(0)
2,870
288
(0)
3,091
303
(0)
3,303
318
(0)
3,775
Cash Flow Investing
Capital Expenditures
Total Cash Flow After Investing
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
(1,000)
Cash Flow Financing
Draw (Amort) Revolver
Senior Term A Debt Amortization
Subordinated Debt Amortization
Total Cash Flow After Financing
(361)
(2,256)
0
(2,617)
(291)
(674)
0
(965)
0
0
0
0
0
0
0
0
0
0
(7,066)
(7,066)
Net Change in Cash
Beginning Cash Balance
Change in Cash Flow
Ending Cash Balance
1,080
(1,030)
50
50
905
955
955
2,091
3,047
3,047
2,303
5,350
5,350
(4,291)
1,059
Cash Flow from Operations
Sources
Net Income
Depreciation
Amortization
PIK Interest
Uses
Change in Working Capital
Change in Other
Total Cash Flow After Operations
17
1,080
BALANCE SHEET

Step 9, last we finish the balance sheet and make sure we “BALANCE”
Acme Manufacturing
Balance Sheet
($ in 000's)
2007
2008
2009
2010
2011
2012
2013
2014
Assets
Current Assets
Cash
Accounts Receivable
Inventory
Prepaids and Other
Current Assets
2,000
3,000
2,000
1,000
8,000
1,200
3,300
3,000
1,150
8,650
1,080
3,750
4,000
1,323
10,153
50
3,938
4,200
1,389
9,576
955
4,134
4,410
1,458
10,958
3,047
4,341
4,631
1,531
13,549
5,350
4,558
4,862
1,608
16,377
1,059
4,786
5,105
1,688
12,638
Plant Property & Equipment, Net
Goodwill and Intangibles, Net
Other Long Term Assets
4,550
4,500
50
5,250
4,000
60
4,100
3,500
70
4,314
3,000
74
4,329
2,500
77
4,143
2,000
81
3,757
1,500
85
3,171
1,000
89
17,100
17,960
17,823
16,964
17,863
19,773
21,719
16,899
Liabilities & Owners Equity
Current Liabilities
Accounts Payable
Accrued Expenses
Other Current Liabilities
Current Assets
1,000
1,500
500
3,000
1,100
1,725
575
3,400
1,200
1,984
661
3,845
1,260
2,083
694
4,037
1,323
2,187
729
4,239
1,389
2,296
765
4,451
1,459
2,411
804
4,674
1,532
2,532
844
4,907
Other Long Term Liabilities
65
70
75
79
83
87
91
96
0
6,935
6,000
525
5,285
6,200
653
2,930
6,400
291
674
6,528
0
0
6,659
0
0
6,792
0
0
6,928
0
0
0
1,000
100
17,100
0.000
1,000
1,480
17,960
0.000
1,000
2,920
17,823
0.000
1,000
4,355
16,964
0.000
1,000
5,883
17,863
0.000
1,000
7,443
19,773
0.000
1,000
9,027
21,719
0.000
1,000
10,896
16,899
0.000
3,000
4,050
1,050
46.33
5.20
4.4%
0.2%
25.74
11.1%
3.7%
0.4%
5,228
1,178
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
5,489
261
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
5,763
274
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
6,051
288
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
6,354
303
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
6,672
318
48.88
4.20
4.7%
0.3%
26.07
11.8%
3.9%
0.4%
Total Assets
Revolving Line of Credit
Senior Loan
Subordinated Debt
Equity
Common and add'l paid in capital
Retained earnings
Total Liabilities & Owners Equity
Check
18
Working Capital Ratios
Working Capital
Change in WC
AR Days
Inventory Turnover
Other current assets as % of Sales
Other Long Term Assets as % of Sales
A/P Days Outstanding
Accrued Expenses as a % of COGS
Other Current Liabilities as a % of COGS
Other Long Term Liabilities as a % of COGS
43.80
7.50
4.0%
0.2%
24.33
10.0%
3.3%
0.4%