Fast Sparrow Inc.

Balance Sheet

Assets 2017 2016 2015 2014 2,018 2,019

Cash & Equivalents 425 212 184 74

Short term Investments - 65 40 10
Accounts Receivable 375 315 310 285 365 384
Inventories 615 415 315 215 436.41 459.39
Total Current Assets 1,415 1,007 849 584 801 843

Plant & Equipment (Cost) 670 670 670 670 670 670
Accumulated Depreciation 280 210 140 70 350 420
Plant & Equipment (Net ) 390 460 530 600 320 250

Total Assets 1,805 1,467 1,379 1,184 1,121 1,093

Liabilities 2017 2016 2015 2014 2,018 2,019

Accounts Payable 60 30 25 15 31 33
Notes Payable 110 60 90 75 95.08 100.09
Accruals 140 130 120 110 152 164

Total Current Liabilities 310 220 235 200

Long term Bonds 754 580 553 420 921 1,126

Total Liabilities 1,064 800 788 620

Preferred stock (400,000 shares) 100 100 100 100 100 100
Common stock (50,000,000 shares) 400 400 400 400 400 400
Retained Earnings 241 167 91 64 300 358
Total Common Equity 741 667 591 564 800 858

Total Liabilities & Equity 1,805 1,467 1,379 1,184

 2,020 2,021 2,022

404 425 448 -

483.59 509.06 535.88
888 935 984

670 670 670

490 560 630
180 110 40

1,068 1,045 1,024

2,020 2,021 2,022

34 36 38 -
105.36 110.91 116.76
178 193 209

1,375 1,680 2,053

100 100 100

400 400 400
413 463 507
913 963 1,007
 Fast Sparrow Inc.
Cash Flow Statement
2017 2016 2015 2014
Operating Activities
Net Income ### ### 80.2 ###
Adjustments
Depreciation 70.0 70.0 70.0 70.0
Working Capital Changes
Accounts Recievable (60.0) (5.0) (25.0) ###
Inventories ### ### ### ###
Accounts Payable 30.0 5.0 10.0 15.0
Accruals 10.0 10.0 10.0 ###
Net Cash By Operating Activities ### ### 45.2 ###
Investing Activities
Purchase of Fixed Assets - - - ###
Financing Activities
Prefferd Stock - - - 100.0
Common Stock - - - 400.0
Sales of short term investments 65.0 (25.0) (30.0) (10.0)
Notes Payable 50.0 (30.0) 15.0 75.0
Bonds Outstanding ### 27.0 ### ###
Payment of Preffered & Common Dividends (61.5) (57.5) (53.5) (49.5)
Net Cash Provided by Financing Activities ### ### 64.5 ###

Total Cash Inflow/Outflow ### 28.3 ### 74.3

Cash at the beginning of the year ### ### 74.3 -
Cash at the end of the year ### ### ### 74.3
 Fast Sparrow Inc.
Income Statement

2017 2016 2015 2014 2,018

Net Sales 3,000.0 2,850.0 2,679.5 2,572.1 3,158
Operating Cost 2,617 2,497 2,400 2,262 2,781.75

EBITDA 383.0 353.0 280.0 310.1 376.3

Depriciation and Imortization 70.0 70.0 70.0 70.0 70

EBIT 313.0 283.0 210.0 240.1 306.3

Interest 88.0 60.0 76.4 50.4 110

EBT 225.0 223.0 133.6 189.7 196.1

Taxes (40%) 90.0 89.2 53.4 75.9 78

Net Income before Preffered Dividends 135.0 133.8 80.2 113.8 117.7
Preffered Dividends 4.0 4.0 4.0 4.0 4.0

Net Income 131.0 129.8 76.2 109.8 113.7

Common Dividends 57.5 53.5 49.5 45.5 54
0.1 0.1 0.1
Addition to Retained Earnings 73.5 76.3 26.7 64.3 59.2

Price of Common Stock 23 26 25 27.0

 2,019 2,020 2,021 2,022
3,324 3,499 3,684 3,878
2,928.27 3,082.51 3,244.88 3,415.80

396.1 416.9 438.9 462.0

70 70 70 70

326.1 346.9 368.9 392.0

135 164 201 246

191.5 182.5 168.0 146.5

77 73 67 59

114.9 109.5 100.8 87.9

4.0 4.0 4.0 4.0

110.9 105.5 96.8 83.9

53 51 46 40

57.8 55.0 50.4 43.7

 Fast Sparrow Inc.
assumptions

years 2017 2016 2015 2014 average 2018 2019

Net Sales 5% 6% 4% 5%
Operating Cost 87% 88% 90% 88% 88%
interest 12% 10% 14% 12% 12%
payout ratio 44% 41% 65% 41% 48%

balance sheet
long term bonds 30% 5% 32% 22%
short term investments 0% 31% 22% 13% 16%
a/c recievable 13% 11% 12% 11% 12%
inventories 24% 17% 13% 10% 16%
a/c payable 2% 1% 1% 0% 1%
notes payable 4% 2% 4% 3% 3%
accruals 8% 8% 9% 8%
2020 2021 2022