Forcasted Financial Position

Actual Income
statement % of Increase First Stage Returned Info Second Stage Returned Info Last Stage
Income Statement (2) (3) (4) (5) (6)
(1)
Sales 3000 1.1513 3453.9 3453.9 3453.9
COGS 2616 1.1513 3011.8 3011.8 3011.8
Depreciation 100 1.1513 115.1 115.1 115.1
total operating expenses 2716 cal 3126.9 3126.9 3126.9
EBIT 284 cal 327.0 327.0 327.0
Interest 88 no ch 88.0 18.0 106.0 1.0 106.9
EBT 196 cal 239.0 221.0 220.0
Taxes (40%) 78 cal 95.6 7.2 88.4 0.4 88.0
Net Profit 118 cal 143.4 132.6 132.0
Preferred Shares Dividends 4 no ch 4.0 4.0 4.0
Net distribtable Shares Dividen 114 cal 139.4 128.6 128.0
ordinary Shares Dividends 58 1.1513 66.8 66.8 66.8
Retained Earning 56 72.6 10.8 61.8 0.6 61.2

Actual Financial
Financial Position position % of Increase Firest Stage Returned Info Second Stage Returned Info Last Stage
(2) (3) (4) (5) (6)
(1)
Cash 10 1.1513 11.5 11.5 11.5
Debtors 375 1.1513 431.7 431.7 431.7
Inventory 615 1.1513 708.0 708.0 708.0
Total current Assets 1000 cal 1151.3 1151.3 1151.3
Net fixed Assets 1000 1.1513 1151.3 1151.3 1151.3
Total Assets 2000 cal 2302.6 2302.6 2302.6
Creditors 60 1.1513 69.1 69.1 69.1
Short Term Loans 110 no ch 110.0 99.9 209.9 5.4 215.3
Accrual Expenses 140 1.1513 161.2 161.2 161.2
Total Current Liabilities 310 cal 340.3 440.1 445.5
Long Term Bonds 754 no ch 754.0 99.9 853.9 5.4 859.3
Total Liabilities/ Depts 1064 cal 1094.3 1294.0 1304.8
Preferred Shares 40 no ch 40.0 40.0 40.0
Ordinary Shares 130 no ch 130.0 130.0 130.0
Retained Earnings 616 72.6 688.6 10.8 677.8 0.6 677.2
Reserves 150 no ch 150.0 150.0 150.0
Total Monetary Equity 936 cal 1008.6 997.8 997.2
2000 cal 2102.9 2291.8 2302.0
Total equity &Liabilities
Financial need 199.7 Financial need 10.8

Financial Source 199.7

Short Term loans 50% = 99.9

Long Term loans 50% = 99.9
199.7
So we know how to finance the increased sales, but we have to calculate the interest of these financial sources,

STL X 8% Int on STL = 8.0

LTL X 10% Int on LTL= 10.0
Interest 18.0

Financial Source 10.8

Short Term loans 50% = 5.4

Long Term loans 50% = 5.4
10.8
So we know how to finance the increased sales, but we have to calculate the interest of these financial sources,

STL X 8% Int on STL = 0.4

LTL X 10% Int on LTL= 0.5
Interest 1.0

Income Statement Actual I.S Last Stage Financial Position Actual F.P Last Stage
Sales 3000 3453.9 Cash 10 11.5
COGS 2616 3011.8 Debtors 375 431.7
Depreciation 100 115.1 Inventory 615 708.0
total operating expenses 2716 3126.9 Total current Assets 1000 1151.3
EBIT 284 327.0 Net fixed Assets 1000 1151.3
Interest 88 106.9 Total Assets 2000 2302.6
EBT 196 220.0 Creditors 60 69.1
Taxes (40%) 78 88.0 Short Term Loans 110 215.3
Net Profit 118 132.0 Accrual Expenses 140 161.2
Preferred Shares Dividends 4 4.0 Total Current Liabilities 310 445.5
Net distribtable Shares Dividen 114 128.0 Long Term Bonds 754 859.3
58 66.8 1064 1304.8
ordinary Shares Dividends Total Liabilities/ Depts
56 61.2 40 40.0
Retained Earning Preferred Shares
Ordinary Shares 130 130.0
Retained Earnings 616 677.2
Reserves 150 150.0
Total Monetary Equity 936 997.2
Total equity &Liabilities 2000 2302.0

EVA before -108.6

EVA after -128.4
 Financial Position Actual F.P Actual sales 3000 Proposed sales 3454
Cash 10 0.3% 12
Debtors 375 12.5% 432
Inventory 615 20.5% 708
Total current Assets 1000 33.3% 1151
Net fixed Assets 1000 33.3% 1151
Total Assets 2000 66.7% 2303
Creditors 60 2.0% 69
Short Term Loans 110 110
Accrual Expenses 140 4.7% 161
Total Current Liabilities 310 6.7% 340
Long Term Bonds 754 754
Total Liabilities/ Depts 1064 1094
Preferred Shares 40 40
Ordinary Shares 130 130
Retained Earnings 616 680
Reserves 150 150
Total Monetary Equity 936 1000
2000 6.7% 2095
Total equity &Liabilities
208

Actual Sales 3,000

Profit margin = 3.8% 114

50.9% Dividends (114*50.9%) 58

49.1% R/E (114*49.1%) 56

Proposed Sales 3,454

Profit margin = 3.8% 131

50.9% Dividends (131*50.9%) 67

49.1% R/E (131*49.1%) 64

Financial sources needed

FSN= A/S1 X ∆S - L/S1 X ∆S -PS2 X (1-D)= 208

Financial sources needed (FSN)=0

0 = A/S1 X ∆S - L/S1 X ∆S -PS2 X (1-D)=

0= 66.7%*(S2-3000)-6.7%(S2-3000)-3.8%*S2*(1-0.509)

0=60%*(S2-3000)-1.9%S2

0= 58.1%*S2-3000*60%
S2=3000*60%/58.1% 3098