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CASE I
CONTINUED GROWTH AND OPERATIONS
Income Statement 1st Qtr
1993 1994 1995 1996 1996
Net sales 2,921 3,477 4,519 1,062 5,315
cost of goods sold:
Beginning inventory 330 337 432 587
Purchases 2209 2729 3579 819
2,539 3,066 4,011 1,406
Ending inventory 337 432 587 607
Total COGS 2,202 2,634 3,424 799 4,020
Operating expenses 622 717 940 244 1,081
total expenses 2,824 3,351 4,364 1,043 5,101
EBIT 97 126 155 19 213
Interest 23 42 56 13 65
Earnings before tax 74 84 99 6 148
Tax 14 16 22 1 58
Net income 60 68 77 5 91
1st Qtr
w-factor: 1993 1994 1995 1996
accounts recevable/sales 0.105 0.118 0.134 0.549
inventory/sales 0.115 0.124 0.130 0.572
acnts payable (+trade)/sales 0.073 0.098 0.111 0.459
accruals/sales 0.014 0.013 0.017 0.063
working capital factor 0.133 0.132 0.136 0.599
average: 0.250
CASE II
HIGH GROWTH
Clarkson Lumber Company
Cashflow Forecast (in thousands)
CASE III
COST SQUEEZE -- COMPETITOR EVOLVES; SALES DROP; VARIABLE COSTS RISE.
Clarkson Lumber Company
Cashflow Forecast (in thousands)
CASE IV
SLOW GROWTH -- OPTIMISTIC SCENARIO
New Financing Required based on Sales Growth
12.0
10.0
Financing Requirement '96-'98 (in thousands)
8.0
6.0
4.0
2.0
0.0
0 0.02 0.04 0.06 0.08 0.1 0.12 0.14 0.16 0.18 0.2
Growth Rate