Solución:

Año 0 1 2
T.M 0 30 60
Precio T.M 0 S/ 1,000 S/ 1,000
Total - S/ 30,000 S/ 60,000

Inversión:

Año 0 1 2
Tractor -20,000
Gastos Preoperativos
Cultivos -8,380
Jornales -8,580
insumos -27,200
Alquiler de tierra -20,000

capital de trabajo -3,000 -3,000 -3,000

Total -84,160

Costos

Año 0 1 2

Costos de Operación -38296 -38296

Jornales -10296 -10296
Insumos -8000 -8000
Alquiler de tierra -20000 -20000

Gastos Generales -8523 -8523

Total -S/ 46,819 -S/ 46,819

Flujo de caja

0 1 2
A. FC ingresos 30000 60000
B. FC de inversion -84,160
Tractor -20000
Gastos preoperativos -64,160
cultivos -8,380
jornales -8,580
alquiler de tierra -20000
insumos -27200
C. cambio KL -3,000 -30000 -3000
D. FC costos -46819 -46819
jornales -10296 -10296
insumos -8000 -8000
alquiler de tierra -S/ 20,000 -S/ 20,000
gastos generales -8523 -8523
E. impuestos (1) -1249
F. FCE (2) -87,160 -28,342 409
G. FC Financ. Neto 40,000 -4,800 -3,551
H.FCF (3) -47,160 -33,142 -3,142

Financiamiento neto

0 1 2
Principal 40,000
Amortizacion (4)
Intereses ( al rebatir, 12%) -4,800 -4,800
Escudo tributario (5) 1,249
Financiamiento neto 40000 -4800 -3551

Estado de ganancias y perdidas

1 2 3
I. ingresos brutos 30,000 60,000 90,000
J. costos -60,637 -60,637 -60,637
Jornales -10,296 -10,296 -10,296
insumos -8,000 -8,000 -8,000
alquiler de tierra -20,000 -20,000 -20,000
gastos generales -8,523 -8,523 -8,523
depreciacion tractor (6) -1,889 -1,889 -1,889
amortizacion gastos preop. (7) -7,129 -7,129 -7,129
intereses ( financiamiento neto) -4800 -4800 -4800
K. Utilidad bruta (8) -30,637 -637 29,363
L. Impuestos (30%) .(9) -8809
M. utilidad neta (10) -30,637 -637 20,554
 3 (4 - 6) (7 - 9)
90 90 100
S/ 1,000 S/ 1,000 S/ 1,000
S/ 90,000 S/ 90,000 S/ 100,000

3 4 5 6 7 8

-1,000

3 4 5 6 7 8

-38296 -38296 -38296 -38296 -38296 -38296

-10296 -10296 -10296 -10296 -10296 -10296
-8000 -8000 -8000 -8000 -8000 -8000
-20000 -20000 -20000 -20000 -20000 -20000

-8523 -8523 -8523 -8523 -8523 -8523

-S/ 46,819 -S/ 46,819 -S/ 46,819 -S/ 46,819 -S/ 46,819 -S/ 46,819

3 4 5 6 7 8
90000 90000 90000 100000 100000
 -1000
-46819 -46819 -46819 -46819 -46819 -46819
-10296 -10296 -10296 -10296 -10296 -10296
-8000 -8000 -8000 -8000 -8000 -8000
-20000 -20000 -20000 -20000 -20000 -20000
-S/ 8,523 -S/ 8,523 -S/ 8,523 -S/ 8,523 -S/ 8,523 -S/ 8,523
-10249 -10249 -10249 -10249 -13249 -10249

24,409 24,409 24,409 23,409 31,409 31,409

-11,360 -10,016 -9,344 -8,672
13,049 13,721 14,393 14,065 22,737 31,409

3 4 5 6 7

-8000 -8000 -8000 -8000 -8000

-4,800 -3,840 -2,880 -1,920 -960
1,440 1,152 864 576 288
-11360 -10688 -10016 -9344 -8672

4 5 6 7 8 9
90,000 90,000 90,000 100,000 100,000 100,000
-59,677 -58,717 -57,757 -56,797 -55,837 -55,837
-10,296 -10,296 -10,296 -10,296 -10,296 -10,296
-8,000 -8,000 -8,000 -8,000 -8,000 -8,000
-20,000 -20,000 -20,000 -20,000 -20,000 -20,000
-8,523 -8,523 -8,523 -8,523 -8,523 -8,523
-1,889 -1,889 -8,523 -8,523 -8,523 -8,523
-10,296 -7,129 -7,129 -7,129 -7,129 -7,129
-8000 -2,880 -1,920 -960
30,323 31,283 32,243 43,203 44,163 44,163
-9097 -9385 -9673 -12961 -13249 -13249
21,226 21,898 22,570 30,242 30,914 30,914
 9 Liquidación
3,000

3,000

10,000
3,000

-38296
-10296
-8000
-20000

-8523
-S/ 46,819

9 LIQ
100000
3,000
3,000
 10,000
-46819
-10296
-8000
-20000
-S/ 8,523
-10249

31,409 13,000

31,409 13,000