Reading: Measuna of Leverage
dosi. Yatwduchion
—_—_—————— devevege
‘
Nance ck fied ook
4 ny
dinky ventas with dod Aa exgete Gre
4 maker dar fo nue ed imneped
ive Lev of onthe
4
er
Hyerstiny Cinaning
&: tak fy genet
aps. tataktvun took bev
—_ —_————__—_——.
L
fen tarne Bee peep
w
per vem trie ot hich Where ts me feofik ne Rou
do WN fies
Feneg: stl unit =
ve found a4
Caatvth wh! end gaat VTAysed oftrabing exh eg reat 2 Goow
fined pinemetsy Exh 29 gt Zz ROD
gud perlin ws) = bid Ot Pixed § cost
_— _
Cont] wad
Eo iep ow
Tol uat
u
aro
getind * gavel
Borw wib
Joouow
(ae ot)
ve ( oom x4) _ ree)
{eoow
(cows)
Seta (soar Xt0J
Covtribulroe
(> Bred oferty ep
Lo ow
EBM Lepeetiy mers)
{ao oto
tes fined fineseiy txt
w °
Jax, @ oe °
—___—
ém 0obaakiy ber lis sunk 5) =
ES Opreding iced wot
clusit
: Goo
¢
= loos wrilt
fahs ton od
vt Yoo
teat t Coors
to tot Cove
ew °
w ot Rood
_
est (wo nes
a
SW way
veluaat rw
che au acal
Fock = 1490 Mn
gat Alo
.
sutlentd = V0 mn az piced AW ma
ot
204dver lin dy = MER x S549
AoRd
= 4ase 7H, AT
= ark wn
ayeraking BE Lin ads) = WIG mw
aoas
shed bet Casale Wer x Seas
doth
= ays, 64%, 457
=~ dS on
Soden
BEt Lin andts) G + & Gs mm
zho
= 459 0” ult
2 OFS en
gerlin wd) HO = 4 Wo we
Ww- Woovee 4?
VA en und
4os4
FMCe
lf
a saMe
gE wwe t wl
for dt ew dal Toop hblily
fonpe ) Met pumches o thare of < lo aede an ex peddle
o
there iu omy yo Zike oe vedas fe Eke Ofte
Compal Souths gut on a. ( bot)
& geet .
woe= Petit
squily
Salad oo zw
'
ceo OO
zh zie
ais Low (aay) tio
aot.
gaint hen 8 4
aHoe je
aa 4ade
Gonbinaring wot Ha kee extorple, = MMB purchous the
wt
wit Eby a4 tanity Ard emining EMe bere 4t
srowed Tera
bak (or OM rok of we = beet park sce
tmpue revised gaint how 4. +t ax Save re
gotuki O° °
om ze l. ab
b gh
'
oO oH
zh
To
egret (wy
i a (ep
adey wih
gt —_—_—— ee
Yo $0
Suede pin] ad
yo» ee
[vom (832842 3135
33M
quedse 9%
othe AE wily debt
4 V0
~ dows tom ~u s2y.
deverage aie = Deut
equity
us LL ths WO = vet
tw ®
not = eft
Equity
DW tot tndly eis { FRAY
= x ‘deat
Equity
40s
“
pegree of olersiiny deversye (NOL) > th bin EBM
ty Gin Seley
at, din EBT {eat
—_————
eget ot jana devtay, (SEL =
Me gine EBC
DILABHL 2 “Me Ain tat
mye bad deve nye (ar -
fe Dig eyEreapa)he —_ ~~ —
I
ty-le Wo - le. Iw 4
—— Ww woe 0
Bdded Cat ad
atk gold tw lw Sot,
SN wat ° "
ve (ust 6 ‘
elwat 4 ‘
vous eb em Seles
—_——
a ve ve
2 SFM
__—
oath
vo WEEN wes
»
BEL Abe BEAT
aes ¥I
-
WiLL AL BEL
2 ¥Mrykls ae ems 1
ah a
ae xan SoleDeed Caw us
yaik af Ww ” sey)
Su (ow Sw ( Sort)
- aw
we oa ve ow ju [ow
-2 ee
21 ¢ 4 A (ory
ayer » ot
an jy iw (serartd
pou = ein OH . Coteiteis ce
—_——
Ah bin sole éart Ce Ohaby fe
be: Ue Setar = Salt
—_——
fe bin E6IT Ena Yoteut
= Me Sin EAT
—_——__
ads bin Solus
pits BELX SFL
Dow = Ye oi een
Sf Oin SelesFarr, — E87.
tb
a
S$, - Se
Se
eur, - tone x Se
ett, S- Se
‘a, (seve) - oy) - [ge cava}- 94)
@ (St-vo - OFL
stx @o
(grevey } O40 stay) — Grxey
Qs
(r= ve) — OFE
Gatnihuln, ®
————
EOpots th be SN
UW bin Seber
pet 2 fe bin 47
a din SHAT
pret MUR BEL
Sete ms 4
he
awe ett 2 v0!
—
a pia
C- oe
ta
en7-35
t _ Yo vn
car wea
cot
oe a
ate
bie 4Selubion 3
” nik subd Ue ma waits
meet ete KF stake WO
—_— re veluwd “
C- OF tw- late —_
chu yr
~ We
a0
~ foe yor Bn
XK Vobo
——
yous te Me Din EBT lose me
“4, bin Sule
Suid Bw nk
wee
c- ort Sely AYR a
_ te ve AGAy on
— —_—_———
Mw - oe (oP ee
Tomas low oH
~ OF ear -Vipew
aj, E81
—_— bous 4
a, sels
a 54, Sauage
Seubiw ¢ s
we debe
{uate &
bat
wee agent bee *
at a vie Youre
pte
a bine MT
ay 2 maranet
dosh Burin Hie
aS
So Dd
wu €
@
ED
Ge)
(sane vee
t
Pied Gina
cot
bg Stue rere
wo ay Way
epoatiy Biyel ade
Pdeutrud Soler veluee pout mo ade
—_ ee
rie .
ai, oy ofoles cick