Income Statement 2017 2,018.

0 2019 2020 2021

sales 3,635.0 4,240.0 4,845.0 5,523.3 6,296.6
COGS 2,980.0 3,680.0 4,215.2 4,805.3 5,478.0
Gross profit 655.0 560.0 629.9 718.0 818.6
administrative and Salling expense 297.6 303.3 350.0 350.0 350.0
Depreciation 154.5 159.0 242.3 276.2 314.8
EBIT 203.0 97.7 37.6 91.9 153.7
Interest 43.0 67.0 67.0 67.0 67.0
Earning before tax (EBT) 160.0 30.7 !(29.4!) 24.9 86.7
Tax 64.0 12.3 !(11.8!) 9.9 34.7
Income 95.97 18.41 !(17.6!) 14.9 52.0

sales growth 14% 14% 14% 14%

COGS % of revenue 82% 87% 87% 87% 87%
S & GA 297.55 303.32 350 350 350
Depreciation % of revenue 4% 4% 5% 5% 5%
Intrest 43 67 67 67 67
Tax 40% 40% 40% 40% 40%
2022 2023 2024 2025
7,178.1 8,183.0 9,328.6 10,634.6
6,244.9 7,119.2 8,115.9 9,252.1
933.2 1,063.8 1,212.7 1,382.5
350.0 350.0 350.0 350.0
358.9 409.2 466.4 531.7
224.2 304.6 396.3 500.8
67.0 67.0 67.0 67.0
157.2 237.6 329.3 433.8
62.9 95.1 131.7 173.5
94.3 142.6 197.6 260.3

14% 14% 14% 14%

87% 87% 87% 87%
350 350 350 350
5% 5% 5% 5%
67 67 67 67
40% 40% 40% 40%