Oats 'R' Us

Income Statement
For the Year Ended Dec. 31st
2004
Sales
4,700,000
Sales growth
25%
Cost of Goods Sold
3,877,500
COGS as a % of sales
82.5%
Gross Profit
822,500
Selling and G&A Expenses
275,000
SG&A as a % of sales
5.9%
Fixed Expenses
90,000
Depreciation Expense
25,000
Dep as a % of GFA
4.5%
Earnings Before Intrest and Taxes
432,500
Interest Expense
66,000
as a % of debt
12.0%
Earnings Before Taxes
366,500
Taxes@40%
146,600
as a % of EBT
40%
Net Income
219,900
Retained Earnings
131,940
Payout ratio
40%

2003
3,760,000
25%
3,045,600
81.0%
714,400
250,000
6.6%
90,000
25,000
4.5%
349,400
66,000
12.6%
283,400
113,360
40%
170,040
102,024
40%

2002 2005
3,000,000
5875000
25%
2,400,000
4846875
80.0%
82.5%
600,000
1028125
215,000
293750
7.2%
5%
90,000
90,000
25,000
29025
4.5%
4.50%
270,000
615,350
66,000 67426.003
12.0%
12%
204,000
547,924
81,600 219169.6
40%
40%
122,400
328,754
73,440 197252.64
40%
40%

Oats 'R' Us
Balance Sheet
As On Dec. 31st
Assets
Cash and Cash Equivalents
Accounts Receivable
Inventory
Total Current Assets
Plant & Equipment
Accumulated Depreciation
Net Plant & Equipment
Total Assets
Liabilities and Owner's Equity
Accounts Payable
Notes Payable
Other Current Liabilities
Total Current Liabilities
Long-term Debt
Total Liabilities

2004
60,000
1.3%
250,416
5.3%
511,500
10.9%
821,916

2003
97,376
2.6%
175,000
4.7%
390,000
10.4%
662,376

2002
48,000
1.6%
150,000
5.0%
335,000
11.2%
533,000

76375
1.30%
293750
5%
646250
11%
1016375

560,000

560,000

560,000

645000

175,000
385,000
1,206,916

150,000
410,000
1,072,376

125,000
435,000
968,000

204,025
440,975
1,457,350

135,000
2.9%
275,000
43,952
453,952
275,000
728,952

151,352
4.0%
275,000
50,000
476,352
250,000
726,352

128,000
4.3%
250,000
46,000
424,000
300,000
724,000

176250
3%
275,000
44,000
495,250
286,883
782,133

Owner's capital
Retained Earnings
Total Liabilities and Owner's Equity

155,560
322,404
1,206,916

155,560
190,464
1,072,376

1.15
6.55

1.52
5.29

155,560
88,440
968,000
Gap/AFN

Debt/Equity Ratio
Interest cover

2.25
4.09

155,560
519,657
1,457,350
0
0.83
9.13

2005
6580000
40%
5329800
81.0%
1250200
329000
5%
90,000
32625
4.50%
798,575
81379.26421
12%
717,196
286878.2943
40%
430,317
258190.4649
40%

85540
1.30%
329000
5%
723800
11%
1138340
725000
207,625
517,375
1,655,715
197400
3%
275,000
44,000
516,400
403,161
919,561

155,560
580,594
1,655,715
0
0.92
9.81