Decision Inputs Quarterly Reports

Decision Inputs for Quarter Number 1
Company Operating Decisions

Units to be produced
###
Div. per common share
$0.10
Demand/price forecast
$0
Investment Decisions
Short-term investment
Machine units bought
Project A
200,000
0
no
Financing Decisions
Short-term loans
Two-year loans
$0
500,000
Three-year loans
$0
Ten-year bonds
$0
Special Options
Strike settlement (per hr.)
$0.00

###
$0.00
$0
Project A
$0
10,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
999,999
Ten-year bonds
999,999
Special Options
$0.00

###
$0.10
$0
Project A
00,000
20,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
00,000
$0
Special Options
$0.00

90,000
$0.15
$0
Project A
$0
10,000
yes
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
00,000
$0
Special Options
$0.00
er Number 1
Decision
Per unit price
Advertising cost
Sales discount
$100.00
$0
0.00%
Risk of S-T investment
Units of plant bought
Project B
no
Project A
Financing Decisions
Preferred shares
Short-term loans
Common shares
Two-year loans
Common tender price
$0
Three-year loans
Ten-year bonds
Special Options
Dollar penalty
$0
er Number 3
Decision
Per unit price
Advertising cost
Sales discount
$104.62
$0
0.00%

Project B
0
25,000
no
Project A
Financing Decisions
Preferred shares
Short-term loans
Common shares
Two-year loans
Common tender price
$0
Three-year loans
Ten-year bonds
Special Options
Dollar penalty
$0
ter Number 5
ter Number 7
Decision I
Per unit price
Advertising cost
Sales discount
$102.31
$0
0.00%
Risk of S-T investme
Units of plant bough
Project B
no
Project A
Financing Decisions
Preferred shares
Short-term loans
Common shares
Two-year loans
Common tender pric
$0
Three-year loans
Ten-year bonds
Special Options
Dollar penalty
$0
Decision I

Per unit price
Advertising cost
Sales discount
$115.00
$0
1.00%
Project B
no
Project A
Financing Decisions
Preferred shares
Short-term loans
Common shares
Two-year loans
Common tender pric
$0
Three-year loans
Ten-year bonds
Special Options
Dollar penalty
$0
ecisions
100,000
Per unit price

$0.00
$0
$200,000
Advertising cost
Sales discount

20,000
no
$0
$0
$999,999

Project B
$102.31
$0
0.00%
0
20,000
no
Preferred shares
Common shares
Common tender price
$0
Dollar penalty
$0
Per unit price
$99.34
$999,999
$0.00
ecisions
105,000
$0.00
$0
$0
Advertising cost
Sales discount

10,000
no

Project B
$0
0.00%
0
5,000
no
$0
Preferred shares
$0
Common shares
$0
Common tender price
$0
Dollar penalty
$0
$999,999
$0.00
g Decisions
###
Per unit price

$0.10
$0
Advertising cost
Sales discount
$105.00
$0
1.00%
ons
500,000
25,000
yes
25,000
Project B
no
s
$0
$0
-$2,000,000
Preferred shares
Common shares
Common tender pric
$0
Dollar penalty
$0
$8,000,000
$0.00
g Decisions
###
Per unit price

$0.15
$0
Advertising cost
Sales discount
$110.00
$0
1.00%
ons
400,000
12,500
no
12,500
Project B
no
s
$0
$0
$3,000,000
Preferred shares
Common shares
Common tender pric
$0
Dollar penalty
$0
$0
$0.00
Quarterly Performance Report

Quarter Number 1
Sales revenue ( 97,383 units at $100.00 )
$9,738,300
Income from securities
2,470
Cost of Goods Sold:

Beginning Inventory: ( 9,809 at $74.79 )
Materials
Direct Labor
$733,567
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Depreciation: Mach. and Equip.
Plant
Other Overhead Costs
Total Indirect Costs
$5,000,000
$60,408
478,125
1,300,000
200,000
2,038,533
Production Costs ( 100,000 at $70.39 )
7,038,533
Goods Available for Sale ( $70.78 per unit )
$7,772,100
Less: Ending Inventory ( 12,426 units )
879,492
Cost of Goods Sold

Gross Profit
Selling and administrative expenses
$1,486,915
Financial Expenses:
Short Term Bank Interest
Penalty Loan Interest
$0
0
Intermediate Term Loan Interest
92,749
Bond Interest
33,600
Bond Redemption Costs
Total Financial Charges
126,349
Operating Income Before Extraordinary Items

Extraordinary Items
Income Before Taxes
Income Tax (rate is 40%)
Income After Taxes
Preferred Stock Dividind
Earnings to Common Stockholders
Common Stock Dividends ( $0.10 per share )
Net Income Transferred to Retained Earnings

Quarter Number 3
11,319,675
Cost of Goods Sold:

Materials
Direct Labor
$574,909
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
$5,000,000
$0
598,125
1,300,000
200,000
2,098,125
7,098,125
$7,673,033
Less: Ending Inventory ( 0 units )
Cost of Goods Sold

Gross Profit
$1,565,984
Financial Expenses:
$0
650,655
103,238
Bond Interest
115,177

Extraordinary Items
Income Before Taxes
0
869,070

Income After Taxes

Quarter Number 5
10,677,276
21,563
Cost of Goods Sold:

Materials
Direct Labor
$688,977
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
$5,000,000
$11,324
541,250
1,704,500
200,000
2,457,074
7,457,074
$8,146,051
380,104
Cost of Goods Sold

Gross Profit
$1,533,864
Financial Expenses:
$0
81,378
400,523
Bond Interest
81,718
563,619

Extraordinary Items
Income Before Taxes
Income After Taxes

Quarter Number 7
Quarter Number 7
$9,660,523
9,403
Cost of Goods Sold:

Beginning Inventory: ( 0 at $0.00 )
Materials
Direct Labor
$0
$1,350,000
3,062,400
Total Direct Costs

Warehousing Costs
Plant
$4,412,400
$11,954
693,581
1,473,750
170,682
2,349,966
6,762,367
$6,762,366
399,581
Cost of Goods Sold

Gross Profit
$1,483,026
Financial Expenses:
$0
0
223,847
Bond Interest
Extraordinary Items
Income Before Taxes
Income After Taxes
432,961
0
656,808

Quarter Number 2
$9,740,770

Cost of Goods Sold:
Materials
Direct Labor
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
6,892,608
$2,848,161
Cost of Goods Sold

Gross Profit
Financial Expenses:
$26,584
478,125
1,300,000
200,000

Bond Interest
1,613,264
$1,234,898
0
$1,234,897
493,958
$740,939
0
$740,939
100,000
$640,939

Extraordinary Items
Income Before Taxes
Income After Taxes

Quarter Number 4
$11,319,675

Cost of Goods Sold:
Materials
Direct Labor
$1,575,000
3,625,000
Total Direct Costs

Warehousing Costs
Plant
7,673,033
$3,646,641
Cost of Goods Sold

Gross Profit
Financial Expenses:
Bond Interest
2,435,053
$1,211,588
0
$1,211,587
484,634

Extraordinary Items
Income Before Taxes
$36,760
556,875
1,645,500
200,000
484,634
$726,953
0
$726,953
0
$726,953

Income After Taxes

Quarter Number 6
$10,698,838

Cost of Goods Sold:
Materials
Direct Labor
$1,500,000
3,410,000
Total Direct Costs

Warehousing Costs
Plant
$0
751,817
1,473,750
183,497

7,765,946
$2,932,891
Cost of Goods Sold

Gross Profit
Financial Expenses:
Bond Interest
2,097,483
$835,409
0
$835,408
334,163
$501,245
0
$501,245
100,000
$401,245
Extraordinary Items
Income Before Taxes
Income After Taxes

Quarter Number 8
Quarter Number 8
$9,669,926

Cost of Goods Sold:
Materials
Direct Labor
$1,500,000
3,331,000
Total Direct Costs

Warehousing Costs
Plant
6,362,786
$3,307,139
Cost of Goods Sold

Gross Profit
Financial Expenses:
$0
759,831
1,568,750
170,682
Bond Interest
2,139,834
$1,167,305
0
$1,167,304
466,921
$700,383
0
$700,383
150,000
$550,383

Extraordinary Items
Income Before Taxes
Income After Taxes
ormance Report
Number 2
$10,663,567
0
$10,663,567
$879,492
$5,000,000
2,004,709
7,004,709
$7,884,200
574,909
7,309,292
$3,354,274
$1,533,178
$0
330,902
330,902
101,336
100,937
0
533,175
2,066,353
$1,287,921
0
$1,287,921
515,169
$772,752
0
$772,752
0
$772,752
ormance Report
Number 4
$9,489,950
0
$0
$9,489,950
$5,200,000
2,439,135
7,639,135
$7,639,135
688,977
6,950,157
$2,539,792
$1,474,498
$0
591,036
84,061
138,763
0
813,860
2,288,357
$251,435
0
$251,434
100,574
100,574
$150,860
0
$150,860
0
$150,860
ormance Report
Number 6
$10,948,049
109,849
$380,104
$4,910,000
2,409,063
7,319,064
$7,699,168
$11,057,898
0
7,699,168
$3,358,729
$1,547,403
$0
0
283,881
504,799
0
788,680
2,336,082
$1,022,647
0
$1,022,647
409,058
$613,589
0
$613,589
100,000
$513,589
ormance Report
Number 8
Number 8
$11,492,300
9,590
$11,501,890
$399,581
$4,831,000
2,499,262
7,330,263
$7,729,843
0
7,729,843
$3,772,046
$1,574,615
$0
0
319,226
411,123
0
730,349
2,304,964
$1,467,082
0
$1,467,081
586,832
$880,249
0
$880,249
150,000
$730,249
Position Statement
Quarter Number 1
ASSETS
Current Assets
Cash
$120,485
Marketable Securities
Accounts Receivable
Inventory ( 12,426 units at $70.78 /UNIT )
200,000
6,524,661
879,492
Total Current Assets
$7,724,636
Fixed Assets (net of depreciation

Machinery and Equipment
Plant
$2,008,125
7,165,250
Total Fixed Assets
9,173,375
Total Assets
$16,898,011
LIABILITIES AND OWNER EQUITY

Current Liabilities
Accounts Payable
$520,000
Short Term Loans Payable
Short Term Penalty Loan
Intermediate Term Debt Maturing
1,850,000
Bonds Maturing
1,200,000
Total Current Liabilities

Long Term Liabilities
$3,570,000

Intermediate Loans: 2 years
$937,500
3 years
Bonds
0
1,200,000
Total Long Term Liabilities
2,137,500
Total Liabilities
$5,707,500
Owners' Equity
Preferred Stock ( 0 shares )
$0
Common Stock ( 1,000,000 shares )
8,000,000
Retained Earnings
3,190,511
Total Equity
11,190,512
Total Liabilities and Equity
$16,898,011
Position Statement
Quarter Number 3
ASSETS
Current Assets
Cash
Accounts Receivable
Inventory ( 0 units at $70.92 /UNIT )
$260,262
0
7,584,182
0
$7,844,444

Plant
$2,311,875
18,875,250
Total Fixed Assets
21,187,125
Total Assets
$29,031,569

Current Liabilities
Accounts Payable
$520,000
0
8,783,853
1,916,664
Bonds Maturing
1,399,996
$12,620,513

3 years
Bonds
$312,500
1,083,332
2,325,002
3,720,834
Total Liabilities
$16,341,347
Owners' Equity
$0
8,000,000
Retained Earnings
4,690,222
Total Equity
12,690,219
Total Equity
12,690,219
$29,031,569
Position Statement
Quarter Number 5
ASSETS
Current Assets
Cash
$32,551
Accounts Receivable
0
7,153,775
380,104
$7,566,430

Plant
$2,633,750
17,340,250
Total Fixed Assets
19,974,000
Total Assets
$27,540,430

Current Liabilities
Accounts Payable
$520,000
0
115,609
4,270,832
4,270,832
Bonds Maturing
1,499,996
$6,406,437

3 years
Bonds
$0
5,416,666
2,475,001
7,891,666
Total Liabilities
$14,298,103
Owners' Equity
$0
8,000,000
Retained Earnings
5,242,327
Total Equity
13,242,328
$27,540,430
Position Statement
Quarter Number 7
ASSETS
Current Assets
Cash
$366,710
1,592,779
Accounts Receivable
1,304,950
399,581
$3,664,018

Plant
$4,287,000
23,367,750
Total Fixed Assets
27,654,750
Total Assets
$31,318,768

Current Liabilities
Accounts Payable
$458,308
1,979,165
Bonds Maturing
1,699,996
$4,137,469

3 years
Bonds
$0
3,750,000
9,125,001
12,875,001
Total Liabilities
$17,012,470
Owners' Equity
$0
$0
8,000,000
Retained Earnings
6,306,298
Total Equity
14,306,298
$31,318,768
Position Statement
Quarter Number 2
ASSETS
Current Assets
Cash
Accounts Receivable
Plant
Total Fixed Assets
Total Assets
Current Liabilities
Accounts Payable
Bonds Maturing

3 years
Bonds
Total Liabilities
Owners' Equity
Retained Earnings
Total Equity
Position Statement
Quarter Number 4
ASSETS
Current Assets
Cash
Accounts Receivable

Plant
Total Fixed Assets
Total Assets
Current Liabilities
Accounts Payable
Bonds Maturing
3 years
Bonds
Total Liabilities
Owners' Equity
Retained Earnings
Total Equity
Total Equity
Position Statement
Quarter Number 6
ASSETS
Current Assets
Cash
Accounts Receivable
Plant
Total Fixed Assets
Total Assets
Current Liabilities
Accounts Payable

Bonds Maturing
3 years
Bonds
Total Liabilities
Owners' Equity
Retained Earnings
Total Equity
Position Statement
Quarter Number 8
ASSETS
Current Assets
Cash
Accounts Receivable

Plant
Total Fixed Assets
Total Assets
Current Liabilities
Accounts Payable
Bonds Maturing
3 years
Bonds
Total Liabilities
Owners' Equity

Retained Earnings
Total Equity
Position Statement
Quarter Number 2
$132,361
0
7,144,590
574,909
$7,851,857
$2,490,000
12,775,250
15,265,250
$23,117,107
$520,000
0
4,467,179
1,883,332
1,299,996
$8,170,507
$625,000
583,333
1,775,003
2,983,335
$11,153,841
$0
8,000,000
3,963,266
11,963,263
$23,117,107
Position Statement
Quarter Number 4
$236,414
0
6,358,267
688,977
$7,283,657
$2,215,000
19,044,750
21,259,750
$28,543,407
$540,000
0
7,978,999
1,916,664
1,499,996
$11,935,658
$0
916,666
2,850,001
3,766,666
$15,702,324
$0
8,000,000
4,841,083
12,841,082
12,841,082
$28,543,407
Position Statement
Quarter Number 6
$412,310
1,592,779
1,478,870
0
$3,483,957
$3,881,469
24,841,500
28,722,969
$32,206,926
$509,350
0
0
1,958,332
1,958,332
1,999,996
$4,467,678
$0
4,583,333
9,400,001
13,983,334
$18,451,011
$0
8,000,000
5,755,915
13,755,916
$32,206,926
Position Statement
Quarter Number 8
$494,544
1,192,779
1,552,387
0
$3,239,710
$4,177,169
26,536,500
30,713,669
$33,953,379
$500,168
0
0
3,499,998
1,399,996
$5,400,162
$0
4,666,667
8,850,001
13,516,667
$18,916,829
$0
$0
8,000,000
7,036,550
15,036,547
$33,953,379
Summary Data
Quarter Number 1
HISTORICAL INFORMATION
Common share price
.19
Quarterly EPS
.74
Price earnings ratio
12
Actual unit price
.00
Preferred stock price
.15
Return on investment
Call premium: preferred
##
Common tender or sell/sh
.00
Outstanding debt yields:

Short-term
2-year loan
2.98%
3.11%
INFORMATION FOR FUTURE QUARTERS:

2
Units forecast
Price per unit forecast
107,734
$100.80
Units of plant capacity
100,000
Units of machine capacity
100,000
Other overhead
200,000
Depreciation: Machinery
478,125
Projects
Plant
1,300,000
Principal repayment on debt:

Short-term
2-year
312,500
3-year
300,000
Bonds
300,000
Warehouse fees:
Units
Cost/Unit
Production costs per unit next quarter:
Materials
$15.00
Units
First 60,000
Labor cost
$39.00
Rates on funding in quarter 2

Short-term
2-year loan
1.96%
1.89%
Interest due next quarter:

Short-term
$0
Intermediate
$83,030
Bonds
$33,600
Capital budgeting projects for next quarter:

Life
Life
A
2-yr
3-yr
Summary Data
Quarter Number 2
Common share price
.73
Quarterly EPS
.77
17
Actual unit price
.31
.62
##
.00

Short-term
2-year loan
1.96%
3.11%

3
Units forecast
109,306
$103.63
100,000
120,000
Other overhead
200,000
598,125
Projects
Plant
1,300,000

Short-term
2-year
312,500
3-year
383,333
Bonds
325,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.07%
2.01%

Short-term
$0
Intermediate
$83,638
Intermediate
$83,638
Bonds
$46,068

Life
A
2-yr
3-yr
Summary Data
Quarter Number 3
Common share price
.26
Quarterly EPS
.73
21
Actual unit price
.62
.36
##
.00

Short-term
2-year loan
2.07%
3.11%

4
Units forecast
98,414
$99.13
120,000
105,000
Other overhead
200,000
556,875
Projects
Plant
1,645,500

Short-term
2-year
312,500
3-year
166,667
Bonds
350,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.46%
2.50%
2.46%
2.50%

Short-term
$0
Intermediate
$84,062
Bonds
$59,579

Life
A
2-yr
3-yr
Summary Data
Quarter Number 4
Common share price
.97
Quarterly EPS
.15
50
Actual unit price
.34
.37
##
##
.00

Short-term
2-year loan
2.46%
3.11%

5
Units forecast
107,565
$101.56
125,000
100,000
Other overhead
200,000
541,250
Projects
Plant
0
1,704,500

Short-term
2-year
312,500
3-year
166,667
Bonds
375,000
Warehouse fees:
Units
Cost/Unit
Materials
Units
Labor cost
$15.00
First 60,000
$39.00
Labor cost
$39.00

Short-term
2-year loan
2.83%
2.95%

Short-term
$0
Intermediate
$70,965
Bonds
$81,718

Life
A
2-yr
3-yr
Summary Data
Quarter Number 5
Common share price
.45
Quarterly EPS
.50
19
Actual unit price
.31
.29
##
##
.00

Short-term
2-year loan
2.83%
3.11%

6
Units forecast
112,661
$102.47
100,000
120,000
Other overhead
200,000
661,250
Projects
Plant
0
1,473,750

Short-term
2-year
312,500
3-year
833,333
Bonds
375,000
Warehouse fees:
Units
Cost/Unit

Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.74%
2.93%

Short-term
$0
Intermediate
$359,357
Bonds
$74,674

Life
A
2-yr
3-yr
Summary Data
Quarter Number 6
Common share price
.72
Quarterly EPS
.61

Actual unit price
18
.96
Actual unit price
.96
.63
##
##
.00

Short-term
2-year loan
2.74%
3.11%

7
Units forecast
118,532
$105.64
100,000
90,000
Other overhead
183,497
531,875
Projects
Plant
90,567
1,473,750

Short-term
2-year
312,500
3-year
Bonds
575,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$38.06

Short-term
2-year loan
2.55%
2.76%

Short-term
$0
Intermediate
$242,716
Bonds
$432,961

Life
A
2-yr
3-yr
Summary Data
Quarter Number 7
Common share price
.15
Quarterly EPS
.70
14
Actual unit price
.27
.48
##
##
.00

Short-term
2-year loan
2.55%
3.11%

8
Units forecast
121,132
$107.91
100,000
100,000
Other overhead
170,682
598,125
Projects
Plant
161,706
1,568,750

Short-term
Short-term
2-year
312,500
3-year
Bonds
575,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.31

Short-term
2-year loan
2.62%
2.84%

Short-term
$0
Intermediate
$214,129
Bonds
$411,123

Life
A
2-yr
3-yr
Summary Data
Quarter Number 8
Common share price
.52
Quarterly EPS
.88
12
Actual unit price
.25
.49
##
.00

Short-term
2-year loan
2.62%
3.11%

9
Units forecast
123,404
$108.32
100,000
107,500
Other overhead
170,682
656,875
Projects
161,706
Plant
1,568,750

Short-term
2-year
3-year
250,000
Bonds
575,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.26

Short-term
2-year loan
2.70%
2.88%

Short-term
$0
Intermediate
$300,315
Bonds
$389,285

Life
Life
A
2-yr
3-yr
Summary Data
Quarter Number 1
Accumulated Wealth
$36.29
Dividend Yield
1.08%
Marketable Security Yield
1.24%
Actual unit demand
97,383
Preferred dividend yield
3.11%
Return on equity
26.48%
Bond call premium
8.00%
Unpaid preferred dividend/shar
$0.00
3-year loan
Bonds
Penalty loan
2.50%
1.40%
8.00%
107,051
105,445
114,656
$104.73
$98.08
$101.85
100,000
100,000
80,000
100,000
75,000
60,000
200,000
200,000
200,000
478,125
384,375
311,250
Machinery
1,300,000
1,300,000
989,000
312,500
312,500
312,500
300,000
300,000
300,000
300,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$48.00
Plant
Next 40,000
Next 20,000
Over 120,000
$29.00
$25.00
$33.00
3-year loan
Bond
Preferred
1.83%
1.73%
2.35%
Cost
Unit Capacity
Overhead Saving
Cost
Unit Capacity
Overhead Saving
$659,280
100,000
$15,340
$513,432
120,000
-$8,102
Summary Data
Quarter Number 2
Accumulated Wealth
$52.83
Dividend Yield
0.00%
1.30%
Actual unit demand
104,228
2.35%
Return on equity
25.84%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
2.08%
1.50%
8.00%
98,139
103,736
90,118
$98.99
120,000
$101.27
100,000
$103.16
70,000
Machinery
95,000
80,000
80,000
200,000
200,000
200,000
504,375
431,250
431,250
1,645,500
1,334,500
1,013,000
312,500
312,500
312,500
83,333
83,333
83,333
325,000
325,000
325,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$42.00
Plant
Next 40,000
Next 20,000
Over 120,000
$29.00
$25.00
$33.00
3-year loan
Bond
Preferred
1.96%
1.91%
2.48%
Cost
Unit Capacity
Overhead Saving
$629,400
100,000
$14,887
$472,560
120,000
-$8,958
Summary Data
Quarter Number 3
Accumulated Wealth
$60.36
Dividend Yield
0.00%
1.16%
Actual unit demand
110,746
2.48%
Return on equity
22.91%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
2.03%
1.60%
8.00%
101,134
$101.54
Machinery
113,473
134,623
$103.16
$102.08
125,000
95,000
95,000
90,000
90,000
35,000
200,000
200,000
200,000
483,750
483,750
195,000
1,704,500
1,383,000
1,383,000
312,500
312,500
312,500
166,667
166,667
166,667
350,000
350,000
350,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$46.00
Plant
Next 40,000
Next 20,000
Over 120,000
$29.00
$25.00
$33.00
3-year loan
Bond
Preferred
2.57%
2.92%
3.79%
2.57%
2.92%
3.79%
Cost
Unit Capacity
Overhead Saving
$570,456
100,000
$15,638
$395,544
120,000
-$9,986
Summary Data
Quarter Number 4
Accumulated Wealth
$30.08
Dividend Yield
0.00%
1.11%
Actual unit demand
95,530
3.79%
Return on equity
4.70%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
2.03%
1.88%
118,165
116,386
128,718
$102.70
Machinery
8.00%
$106.65
$105.92
100,000
100,000
75,000
100,000
45,000
45,000
200,000
200,000
200,000
541,250
252,500
252,500
1,473,750
1,473,750
1,120,000
312,500
312,500
312,500
166,667
166,667
166,667
375,000
375,000
375,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$48.00
Plant
Next 40,000
Next 20,000
Over 120,000
$29.00
$25.00
$33.00
$29.00
$25.00
$33.00
3-year loan
Bond
Preferred
3.12%
3.79%
4.93%
Cost
Unit Capacity
Overhead Saving
$607,992
100,000
$15,189
$391,632
120,000
-$8,139
Summary Data
Quarter Number 5
Accumulated Wealth
$37.66
Dividend Yield
1.07%
0.86%
Actual unit demand

Return on equity
Bond call premium
104,362
4.93%
15.14%
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.77%
1.88%
8.00%
127,161
117,708
129,204
$107.90
$104.70
$107.91
100,000
75,000
75,000
65,000
65,000
60,000
200,000
200,000
200,000
372,500
372,500
350,000
1,473,750
1,120,000
1,120,000
312,500
312,500
833,333
833,333
833,333
375,000
375,000
375,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
Machinery
$51.00
Plant
Next 40,000
Next 20,000
Over 120,000
$29.00
$25.00
$33.00
3-year loan
Bond
Preferred
3.17%
4.00%
5.09%
Cost
Unit Capacity
Overhead Saving
$724,536
100,000
$16,503
$499,200
120,000
-$9,943
Summary Data
Quarter Number 6
Accumulated Wealth
$45.04
Dividend Yield
0.89%
0.76%
Actual unit demand
109,051
Actual unit demand
109,051
5.09%
Return on equity
17.84%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.77%
3.80%
8.00%
10
133,519
128,059
98,872
$107.39
$104.66
$100.97
100,000
100,000
100,000
90,000
85,000
85,000
183,497
183,497
183,497
531,875
509,375
509,375
90,567
90,567
90,567
1,568,750
1,568,750
1,568,750
312,500
500,000
833,333
575,000
575,000
275,000
Machinery
Summary Data
Quarter Number 7
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$53.00
Plant
Next 40,000
Next 20,000
Over 120,000
$28.06
$25.00
$33.00
3-year loan
Bond
Preferred
3.01%
3.87%
5.13%
Cost
Unit Capacity
Overhead Saving
$569,112
100,000
$12,815
$394,272
120,000
-$8,202
Accumulated Wealth
$40.63
Dividend Yield
1.47%
0.59%
Actual unit demand
115,856
5.13%
Return on equity
19.58%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.77%
3.80%
8.00%
10
11
119,208
102,426
110,375
$107.87
$100.59
$101.17
100,000
100,000
75,000
95,000
95,000
75,000
170,682
170,682
170,682
575,625
575,625
455,625
161,706
161,706
161,706
1,568,750
1,568,750
1,255,000
Machinery
833,333
833,333
575,000
275,000
275,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$52.00
Plant
Next 40,000
Next 20,000
Over 120,000
$27.31
$25.00
$33.00
3-year loan
Bond
Preferred
3.13%
4.05%
5.13%
Cost
Unit Capacity
Overhead Saving
$570,480
100,000
$15,686
$422,784
120,000
-$8,212
Summary Data
Quarter Number 8
Accumulated Wealth
$44.16
Dividend Yield
1.35%
0.80%
Actual unit demand
121,620
5.13%
Return on equity
23.42%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.68%
3.80%
8.00%
10
11
12
103,229
96,799
98,361
$100.24
$105.25
$102.47
112,500
87,500
87,500
107,500
87,500
77,500
170,682
170,682
170,682
656,875
536,875
484,375
Machinery
161,706
161,706
161,706
1,805,625
1,491,875
1,491,875
1,083,333
1,083,333
1,083,333
275,000
275,000
275,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$44.00
Plant
Next 40,000
Next 20,000
Over 120,000
$27.26
$25.00
$33.00
3-year loan
Bond
Preferred
3.11%
3.90%
5.20%
Cost
Unit Capacity
Overhead Saving
Cost
Unit Capacity
Overhead Saving
$453,312
100,000
$13,078
$673,152
120,000
-$10,364
$333.00
Unit Labor sav., Qtr.2
Change/Qtr. Labor Sav.
$0.82
$0.03
$0.85
-$0.01
$286.00
$0.78
$0.03
$0.78
-$0.02
$313.00
$0.71
$0.03
$0.65
-$0.03
$328.00
$0.75
$0.03
$0.65
-$0.01
$349.00
$0.90
$0.04
$0.83
-$0.03
$364.00
$0.70
$0.01
$0.65
-$0.01
$359.00
$0.71
$0.04
$0.70
-$0.01
$299.00
$0.56
$0.01
$1.12
-$0.04
N&N Company - Financial Decision and

Unit to be produced
Forecasted Price
Actual Sale Volume
Unit Price
Ending Inventory
Purchase of Plant Capacity
Purchase of Machine Capacity
Net Income
Short-Term Penalty Loans
Short-Term Investment
2 Year Loans
3 Year Loans
10 Year Bonds
Interest Rate - 2 Year Loans
Interest Rate - 3 Year Loans
Coupon
Penalty Loan
Stock Price
Dividend
Dividend Yield
Quarterly EPS
ROI
ROE
P/E Ratio
unit
$
unit
$
unit
unit
unit
$
$
$
$
$
$
%
%
%
%
%
$
$
%
$
%
%
time
Quarter1
100,000.00
100.00
97,383.00
100.00
12,426.00
0.00
0.00
640,939.00
0.00
200,000.00
2,500,000.00
1.24
3.11
2.50
1.40
8.00
36.29
0.10
1.08
0.74
17.54
26.48
12.21
- Financial Decision and Performance

Quarter2
100,000.00
100.00
104,228.00
102.31
8,198.00
20,000.00
20,000.00
772,752.00
4,467,179.00
-200,000.00
999,999.00
999,999.00
1.30
1.89
1.83
1.73
8.00
52.83
0.77
13.37
25.84
17.06
Quarter3
100,000.00
103.00
108,198.00
104.62
25,000.00
10,000.00
726,953.00
8,783,853.00
999,999.00
999,999.00
1.16
2.01
1.96
1.91
8.00
60.36
0.73
10.02
22.91
20.72
Quarter4
105,000.00
100.00
95,539.00
99.34
9,470.00
5,000.00
10,000.00
150,860.00
7,978,999.00
999,999.00
1.11
2.50
2.57
2.92
8.00
30.08
0.15
2.11
4.70
49.67
Quarter5
100,000.00
102.00
104,362.00
102.31
5,108.00
20,000.00
401,245.00
115,609.00
2,500,000.00
8,000,000.00
0.86
2.95
3.12
3.79
8.00
37.66
0.10
1.07
0.50
7.28
15.14
18.68
Q6
Cash
Short-Term Security
Q7
$412,310
$366,710
$1,592,779
$1,592,779
Q6
Q7
Total Liabilities
$18,451,011
Total Equities
$13,755,916
$14,306,298
1.34
1.19
D/E Ratio (time)
Q6
Cost of Debt
Tax Rate
Div. of Preferred Stock
Cost of Equity
Proportion of Debt
Proportion of Equity
WACC
$17,012,470
Q7
4.00%
40.00%
5.09%
6.18%
56.60%
43.40%
4.04%
3.87%
40.00%
5.13%
6.39%
53.64%
46.36%
4.21%
Q8
Q9
$494,544
$491,370
$1,192,779
$592,779
Q8
Q9
$18,916,829
$19,741,329
$15,036,547
$15,680,656
1.26
1.26
Q8
Q9
4.05%
40.00%
5.13%
6.21%
55.05%
44.95%
4.13%
3.90%
40.00%
5.30%
6.70%
55.10%
44.90%
4.30%
Q6
0
1
2
3
4
5
6
7
8
9
10
11
12
NPV
Q7
0
1
2
3
4
5
6
7
8
9
10
11
12
NPV
A
B
-$724,536.00
-$499,200.00
$4,906,503.00
$4,873,057.00
$4,910,503.00
$4,870,057.00
$4,914,503.00
$4,867,057.00
$4,918,503.00
$4,864,057.00
$4,922,503.00
$4,861,057.00
$4,926,503.00
$4,858,057.00
$4,930,503.00
$4,855,057.00
$4,934,503.00
$4,852,057.00
$4,849,057.00
$4,846,057.00
$4,843,057.00
$4,840,057.00
### $9,952,135.47
### $9,452,935.47
A
B
-$569,112.00
-$394,272.00
$4,993,318.00
$4,967,301.00
$4,994,318.00
$4,966,301.00
$4,995,318.00
$4,965,301.00
$4,996,318.00
$4,964,301.00
$4,997,318.00
$4,963,301.00
$4,998,318.00
$4,962,301.00
$4,999,318.00
$4,961,301.00
$5,000,318.00
$4,960,301.00
$4,959,301.00
$4,958,301.00
$4,957,301.00
$4,956,301.00
### $9,755,933.42
### $9,361,661.42
Q8
0
1
2
3
4
5
6
7
8
9
10
11
12
NPV
Q9
0
1
2
3
4
5
6
7
8
9
10
11
12
NPV
A
B
-$570,480.00
-$422,784.00
$5,085,004.00
$5,060,106.00
$5,089,004.00
$5,059,706.00
$5,091,404.00
$5,059,306.00
$5,093,804.00
$5,058,906.00
$5,096,204.00
$5,058,506.00
$5,098,604.00
$5,058,106.00
$5,101,004.00
$5,057,706.00
$5,103,404.00
$5,057,306.00
$5,056,906.00
$5,056,506.00
$5,056,106.00
$5,055,706.00
###
###
### $9,704,222.33
A
B
-$570,480.00
-$673,152.00
$5,072,396.00
$5,104,954.00
$5,073,396.00
$5,100,954.00
$5,074,396.00
$5,096,954.00
$5,075,396.00
$5,092,954.00
$5,076,396.00
$5,088,954.00
$5,077,396.00
$5,084,954.00
$5,078,396.00
$5,080,954.00
$5,079,396.00
$5,076,954.00
$5,072,954.00
$5,068,954.00
$5,064,954.00
$5,060,954.00
### $9,811,896.34
### $9,138,744.34
Q6
A
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
200000
39
29
0
183497
Q7
1500000
183497
38.1
28.1
3410000
5093497
10000000
4906503
Q6
B
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
200000
39
29
0
209943
Q7
1500000
209943
38.17
28.17
3417000
5126943
10000000
4873057
Q7
A
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
183497
38.06
28.06
0
170682
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
183497
38.06
28.06
0
191699
1500000
209943
38.2
28.2
3420000
5129943
10000000
4870057
Q8
1500000
170682
37.36
27.36
3336000
5006682
10000000
4993318
Q7
B
1500000
183497
38.06
28.06
3406000
5089497
10000000
4910503
1500000
170682
37.35
27.35
3335000
5005682
10000000
4994318
Q8
1500000
191699
37.41
27.41
3341000
5032699
10000000
4967301
1500000
191699
37.42
27.42
3342000
5033699
10000000
4966301
Q8
A
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
170682
37.31
27.31
0
154996
Q9
1500000
154996
36.6
26.6
3260000
4914996
10000000
5085004
Q8
B
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
170682
37.31
27.31
0
178894
Q9
1500000
178894
36.61
26.61
3261000
4939894
10000000
5060106
Q9
A
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
170682
37.26
27.26
0
157604
Material
Overhead
60000
40000
Labor
Total Cost
Sale
Profit
15
170682
37.26
27.26
0
181046
1500000
154996
36.56
26.56
3256000
4910996
10000000
5089004
1500000
178894
36.61
26.62
3261400
4940294
10000000
5059706
Q10
1500000
157604
36.7
26.7
3270000
4927604
10000000
5072396
Q9
1500000
157604
36.69
26.69
3269000
4926604
10000000
5073396
Q10
1500000
181046
36.14
26.14
3214000
4895046
10000000
5104954
1500000
181046
36.18
26.18
3218000
4899046
10000000
5100954
Q8
Q9
1500000
183497
38.02
28.02
3402000
5085497
10000000
4914503
Q8
Q10
1500000
183497
37.98
27.98
3398000
5081497
10000000
4918503
Q9
1500000
209943
38.23
28.23
3423000
5132943
10000000
4867057
Q9
Q10
1500000
209943
38.26
28.26
3426000
5135943
10000000
4864057
Q10
1500000
170682
37.34
27.34
3334000
5004682
10000000
4995318
Q9
1500000
170682
37.33
27.33
3333000
5003682
10000000
4996318
Q10
1500000
191699
37.43
27.43
3343000
5034699
10000000
4965301
1500000
183497
37.94
27.94
3394000
5077497
10000000
4922503
1500000
191699
37.44
27.44
3344000
5035699
10000000
4964301
1500000
209943
38.29
28.29
3429000
5138943
10000000
4861057
Q11
1500000
170682
37.32
27.32
3332000
5002682
10000000
4997318
Q11
1500000
191699
37.45
27.45
3345000
5036699
10000000
4963301
Q11
1500000
183497
37.9
27.9
3390000
5073497
10000000
4926503
Q11
1500000
209943
38.32
28.32
3432000
5141943
10000000
4858057
Q12
1500000
170682
37.31
27.31
3331000
5001682
10000000
4998318
Q12
1500000
191699
37.46
27.46
3346000
5037699
10000000
4962301
Q12
1500000
183497
37.86
27.86
3386000
5069497
10000000
4930503
Q12
1500000
209943
38.35
28.35
3435000
5144943
10000000
4855057
Q13
1500000
170682
37.3
27.3
3330000
5000682
10000000
4999318
Q13
1500000
191699
37.47
27.47
3347000
5038699
10000000
4961301
Q13
1500000
183497
37.82
27.82
3382000
5065497
10000000
4934503
Q13
1500000
209943
38.38
28.38
3438000
5147943
10000000
4852057
Q14
1500000
170682
37.29
27.29
3329000
4999682
10000000
5000318
Q14
1500000
191699
37.48
27.48
3348000
5039699
10000000
4960301
Q10
1500000
154996
36.52
26.56
3253600
4908596
10000000
5091404
Q10
1500000
178894
36.61
26.63
3261800
4940694
10000000
5059306
Q11
1500000
157604
36.68
26.68
3268000
4925604
10000000
5074396
Q11
1500000
181046
36.22
26.22
3222000
4903046
10000000
5096954
Q11
1500000
154996
36.48
26.56
3251200
4906196
10000000
5093804
Q11
1500000
178894
36.61
26.64
3262200
4941094
10000000
5058906
Q12
1500000
157604
36.67
26.67
3267000
4924604
10000000
5075396
Q12
1500000
181046
36.26
26.26
3226000
4907046
10000000
5092954
Q12
1500000
154996
36.44
26.56
3248800
4903796
10000000
5096204
Q12
1500000
178894
36.61
26.65
3262600
4941494
10000000
5058506
Q13
1500000
157604
36.66
26.66
3266000
4923604
10000000
5076396
Q13
1500000
181046
36.3
26.3
3230000
4911046
10000000
5088954
Q13
1500000
154996
36.4
26.56
3246400
4901396
10000000
5098604
Q13
1500000
178894
36.61
26.66
3263000
4941894
10000000
5058106
Q14
1500000
157604
36.65
26.65
3265000
4922604
10000000
5077396
Q14
1500000
181046
36.34
26.34
3234000
4915046
10000000
5084954
Q14
1500000
154996
36.36
26.56
3244000
4898996
10000000
5101004
Q14
1500000
178894
36.61
26.67
3263400
4942294
10000000
5057706
Q15
1500000
157604
36.64
26.64
3264000
4921604
10000000
5078396
Q15
1500000
181046
36.38
26.38
3238000
4919046
10000000
5080954
Q15
1500000
154996
36.32
26.56
3241600
4896596
10000000
5103404
Q15
1500000
178894
36.61
26.68
3263800
4942694
10000000
5057306
Q16
1500000
157604
36.63
26.63
3263000
4920604
10000000
5079396
Q16
1500000
181046
36.42
26.42
3242000
4923046
10000000
5076954
0.04
0.03
Q14
1500000
209943
38.41
28.41
3441000
5150943
10000000
4849057
Q15
Q16
1500000
209943
38.44
28.44
3444000
5153943
10000000
4846057
Q17
1500000
209943
38.47
28.47
3447000
5156943
10000000
4843057
1500000
209943
38.5
28.5
3450000
5159943
10000000
4840057
0.01
Q15
1500000
191699
37.49
27.49
3349000
5040699
10000000
4959301
Q16
1500000
191699
37.5
27.5
3350000
5041699
10000000
4958301
Q17
Q18
1500000
191699
37.51
27.51
3351000
5042699
10000000
4957301
0.04
1500000
191699
37.52
27.52
3352000
5043699
10000000
4956301
0.01
Q16
1500000
178894
36.61
26.69
3264200
4943094
10000000
5056906
Q17
Q18
1500000
178894
36.61
26.7
3264600
4943494
10000000
5056506
1500000
178894
36.61
26.71
3265000
4943894
10000000
5056106
Q19
1500000
178894
36.61
26.72
3265400
4944294
10000000
5055706
0.01
0.04
Q17
1500000
181046
36.46
26.46
3246000
4927046
10000000
5072954
Q18
1500000
181046
36.5
26.5
3250000
4931046
10000000
5068954
Q19
1500000
181046
36.54
26.54
3254000
4935046
10000000
5064954
Q20
1500000
181046
36.58
26.58
3258000
4939046
10000000
5060954
Results for company name: N&N

100,000
$0.10
$0
$200,000

Project A
0
no
Financing Decisions
Short-term loans
Two-year loans
$0
$2,500,000
Three-year loans
$0
Ten-year bonds
$0
Special Options
Quarter Number 1
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$60,408
478,125
1,300,000
200,000
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 1
ASSETS
Current Assets
Cash
$120,485
Accounts Receivable
200,000
6,524,661
879,492

Plant
$2,008,125
7,165,250
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$520,000
1,850,000
Bonds Maturing
1,200,000

3 years
Bonds
$937,500
0
1,200,000

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
3,190,511
Total Equity
Summary Data
Quarter Number 1
Common share price
$36.19
Quarterly EPS
$0.74
12.21
Actual unit price
$100.00
$32.15
17.54%
8.00%
$0.00

Short-term
2-year loan
2.98%
3.11%

2
Units forecast
107,734
$100.80
100,000
100,000
Other overhead
200,000
478,125
Projects
Plant
0
1,300,000

Short-term
2-year
312,500
3-year
300,000
Bonds
300,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
1.96%
1.89%

Short-term
$0
Intermediate
$83,030
Bonds
$33,600

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$9,738,300
2,470
$733,567
$9,740,770
$5,000,000
2,038,533
7,038,533
$7,772,100
879,492
6,892,608
$2,848,161
$1,486,915
$0
0
92,749
33,600
0
126,349
1,613,264
$1,234,898
0
$1,234,897
493,958
$740,939
0
$740,939
100,000
$640,939
$7,724,636
9,173,375
$16,898,011
$3,570,000
2,137,500
$5,707,500
11,190,512
$16,898,011
Accumulated Wealth
$36.29
Dividend Yield
1.08%
1.24%
Actual unit demand
97,383
3.11%
Return on equity
26.48%
Bond call premium
8.00%
Unpaid preferred dividend/share
$0.00
3-year loan
Bonds
Penalty loan
2.50%
1.40%
8.00%
107,051
105,445
114,656
$104.73
$98.08
$101.85
100,000
100,000
80,000
100,000
75,000
60,000
200,000
200,000
200,000
478,125
384,375
311,250
1,300,000
1,300,000
989,000
312,500
312,500
312,500
300,000
300,000
300,000
300,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$48.00 Plant
Next 40,000
Next 20,000
$29.00
3-year loan
$25.00
Bond
1.83%
Cost
Over 120,000
$33.00
Preferred
1.73%
Unit Capacity
2.35%
Overhead Saving
$659,280
100,000
$15,340
$513,432
120,000
($8,102)
$100.00
$0
0.00%
0
0
no
0
0
$0
$0
$333.00
$0.82
$0.03
$0.85
($0.01)

100,000
$0.00
$0
($200,000)

Project A
20,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
$999,999
Ten-year bonds
$999,999
Special Options
Quarter Number 2
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$26,584
478,125
1,300,000
200,000
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 2
ASSETS
Current Assets
Cash
$132,361
Accounts Receivable
0
7,144,590
574,909

Plant
$2,490,000
12,775,250
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$520,000
4,467,179
1,883,332
Bonds Maturing
1,299,996

3 years
Bonds
$625,000
583,333
1,775,003

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
3,963,266
Total Equity
Summary Data
Quarter Number 2
Common share price
$52.73
Quarterly EPS
$0.77
17.06
Actual unit price
$102.31
$42.62
13.37%
8.00%
$0.00

Short-term
2-year loan
1.96%
3.11%

3
Units forecast
109,306
$103.63
100,000
120,000
Other overhead
200,000
598,125
Projects
Plant
0
1,300,000

Short-term
Short-term
2-year
312,500
3-year
383,333
Bonds
325,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.07%
2.01%

Short-term
$0
Intermediate
$83,638
Bonds
$46,068

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$10,663,567
0
$879,492
$10,663,567
$5,000,000
2,004,709
7,004,709
$7,884,200
574,909
7,309,292
$3,354,274
$1,533,178
$0
330,902
101,336
100,937
0
533,175
2,066,353
$1,287,921
0
$1,287,921
515,169
$772,752
0
$772,752
0
$772,752
$7,851,857
15,265,250
$23,117,107
y Data
umber 2
$8,170,507
2,983,335
$11,153,841
11,963,263
$23,117,107
Accumulated Wealth
$52.83
Dividend Yield
0.00%
1.30%
Actual unit demand
104,228
2.35%
Return on equity
25.84%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
2.08%
1.50%
8.00%
98,139
103,736
90,118
$98.99
$101.27
$103.16
120,000
100,000
70,000
95,000
80,000
80,000
200,000
200,000
200,000
504,375
431,250
431,250
1,645,500
1,334,500
1,013,000
Machinery
312,500
312,500
312,500
83,333
83,333
83,333
325,000
325,000
325,000
First 2000
Next 5000
Over 7000
$1.00
$3.00
$8.00
$42.00
Plant
Next 40,000
Next 20,000
Over 120,000
$29.00
$25.00
$33.00
3-year loan
Bond
Preferred
1.96%
1.91%
2.48%
Cost
Unit Capacity
Overhead Saving
$629,400
100,000
$14,887
$472,560
120,000
($8,958)
$102.31
$0
0.00%
0
20,000
no
0
0
$0
$0
$286.00

$0.78
$0.03
$0.78
($0.02)

100,000
$0.00
$0
$0

Project A
10,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
$999,999
Ten-year bonds
$999,999
Special Options
Quarter Number 3
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$0
598,125
1,300,000
200,000
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 3
ASSETS
Current Assets
Cash
$260,262
Accounts Receivable
0
7,584,182
0

Plant
$2,311,875
18,875,250
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$520,000
0
8,783,853
1,916,664
Bonds Maturing
1,399,996

3 years
Bonds
$312,500
1,083,332
2,325,002

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
4,690,222
Total Equity
Summary Data
Quarter Number 3
Common share price
$60.26
Quarterly EPS
$0.73
20.72
Actual unit price
$104.62
$40.36
10.02%
8.00%
$0.00

Short-term
2-year loan
2.07%
3.11%

4
Units forecast
98,414
$99.13
120,000
105,000
Other overhead
200,000
556,875
Projects
Plant
0
1,645,500

Short-term
2-year
312,500
3-year
166,667
Bonds
350,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.46%
2.50%

Short-term
$0
Intermediate
$84,062
Bonds
$59,579

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$11,319,675
0
$574,909
$11,319,675
$5,000,000
2,098,125
7,098,125
$7,673,033
0
7,673,033
$3,646,641
$1,565,984
$0
650,655
103,238
115,177
0
869,070
2,435,053
$1,211,588
0
$1,211,587
484,634
$726,953
0
$726,953
0
$726,953
$7,844,444
21,187,125
$29,031,569
$12,620,513
3,720,834
$16,341,347
12,690,219
$29,031,569
Accumulated Wealth
$60.36
Dividend Yield
0.00%
1.16%
Actual unit demand
110,746
2.48%
Return on equity
22.91%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
2.03%
1.60%
8.00%
101,134
113,473
134,623
$101.54
$103.16
$102.08
125,000
95,000
95,000
90,000
90,000
35,000
200,000
200,000
200,000
483,750
483,750
195,000
1,704,500
1,383,000
1,383,000
312,500
312,500
312,500
166,667
166,667
166,667
350,000
350,000
350,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$46.00 Plant
Next 40,000
Next 20,000
$29.00
3-year loan
$25.00
Bond
2.57%
Cost
Over 120,000
$33.00
Preferred
2.92%
Unit Capacity
3.79%
Overhead Saving
$570,456
100,000
$15,638
$395,544
120,000
($9,986)
$104.62
$0
0.00%
0
25,000
no
0
0
$0
$0
$313.00
$0.71
$0.03
$0.65
($0.03)

105,000
$0.00
$0
$0

Project A
10,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
$0
Ten-year bonds
$999,999
Special Options
Quarter Number 4
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,575,000
3,625,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$36,760
556,875
1,645,500
200,000
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 4
ASSETS
Current Assets
Cash
$236,414
Accounts Receivable
0
6,358,267
688,977

Plant
$2,215,000
19,044,750
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$540,000
0
7,978,999
1,916,664
Bonds Maturing
1,499,996

3 years
Bonds
$0
916,666
2,850,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
4,841,083
Total Equity
Summary Data
Quarter Number 4
Common share price
$29.97
Quarterly EPS
$0.15
49.67
Actual unit price
$99.34
$26.37
2.11%
8.00%
$0.00

Short-term
2-year loan
2.46%
3.11%

5
Units forecast
107,565
$101.56
125,000
100,000
Other overhead
200,000
541,250
Projects
Plant
0
1,704,500

Short-term
2-year
312,500
3-year
166,667
Bonds
375,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.83%
2.95%

Short-term
$0
Intermediate
$70,965
Bonds
$81,718

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$9,489,950
0
$0
$9,489,950
$5,200,000
2,439,135
7,639,135
$7,639,135
688,977
6,950,157
$2,539,792
$1,474,498
$0
591,036
84,061
138,763
0
813,860
2,288,357
$251,435
0
$251,434
100,574
$150,860
0
$150,860
0
$150,860
$7,283,657
21,259,750
$28,543,407
$11,935,658
3,766,666
$15,702,324
12,841,082
$28,543,407
Accumulated Wealth
$30.08
Dividend Yield
0.00%
1.11%
Actual unit demand
95,530
3.79%
Return on equity
4.70%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
2.03%
1.88%
8.00%
118,165
116,386
128,718
$102.70
$106.65
$105.92
100,000
100,000
75,000
100,000
45,000
45,000
200,000
200,000
200,000
541,250
252,500
252,500
1,473,750
1,473,750
1,120,000
312,500
312,500
312,500
166,667
166,667
166,667
375,000
375,000
375,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$48.00 Plant
Next 40,000
Next 20,000
$29.00
3-year loan
$25.00
Bond
3.12%
Cost
Over 120,000
$33.00
Preferred
3.79%
Unit Capacity
4.93%
Overhead Saving
$607,992
100,000
$15,189
$391,632
120,000
($8,139)
$99.34
$0
0.00%
0
5,000
no
0
0
$0
$0
$328.00
$0.75
$0.03
$0.65
($0.01)

100,000
$0.10
$0
$2,500,000

Project A
20,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
$8,000,000
$0
Special Options
Quarter Number 5
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,500,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$11,324
541,250
1,704,500
200,000
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 5
ASSETS
Current Assets
Cash
$32,551
Accounts Receivable
0
7,153,775
380,104

Plant
$2,633,750
17,340,250
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$520,000
0
115,609
4,270,832
Bonds Maturing
1,499,996

3 years
Bonds
$0
5,416,666
2,475,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
5,242,327
Total Equity
Summary Data
Quarter Number 5
Common share price
$37.45
Quarterly EPS
$0.50
18.68
Actual unit price
$102.31
$20.29
7.28%
8.00%
$0.00

Short-term
2-year loan
2.83%
3.11%

6
Units forecast
112,661
$102.47
100,000
120,000
Other overhead
200,000
661,250
Projects
Plant
0
1,473,750

Short-term
2-year
312,500
3-year
833,333
Bonds
375,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$39.00

Short-term
2-year loan
2.74%
2.93%

Short-term
$0
Intermediate
$359,357
Bonds
$74,674

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$10,677,276
21,563
$688,977
$10,698,838
$5,000,000
2,457,074
7,457,074
$8,146,051
380,104
7,765,946
$2,932,891
$1,533,864
$0
81,378
400,523
81,718
0
563,619
2,097,483
$835,409
0
$835,408
334,163
$501,245
0
$501,245
100,000
$401,245
$7,566,430
19,974,000
$27,540,430
$6,406,437
7,891,666
$14,298,103
13,242,328
$27,540,430
Accumulated Wealth
$37.66
Dividend Yield
1.07%
0.86%
Actual unit demand
104,362
4.93%
Return on equity
15.14%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.77%
1.88%
8.00%
127,161
117,708
129,204
$107.90
$104.70
$107.91
100,000
75,000
75,000
65,000
65,000
60,000
200,000
200,000
200,000
372,500
372,500
350,000
1,473,750
1,120,000
1,120,000
312,500
312,500
833,333
833,333
833,333
375,000
375,000
375,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$51.00 Plant
Next 40,000
Next 20,000
$29.00
3-year loan
$25.00
Bond
3.17%
Cost
Over 120,000
$33.00
Preferred
4.00%
Unit Capacity
5.09%
Overhead Saving
$724,536
100,000
$16,503
$499,200
120,000
($9,943)
$102.31
$0
0.00%
0
0
no
0
0
$0
$0
$349.00
$0.90
$0.04
$0.83
($0.03)

100,000
$0.10
$0
$1,500,000

Project A
25,000
yes
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
($2,000,000)
$8,000,000
Special Options
Quarter Number 6
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,410,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$0
751,817
1,473,750
183,497
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 6
ASSETS
Current Assets
Cash
$412,310
1,592,779
Accounts Receivable
1,478,870

Plant
$3,881,469
24,841,500
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$509,350
1,958,332
Bonds Maturing
1,999,996

3 years
Bonds
$0
4,583,333
9,400,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
5,755,915
Total Equity
Summary Data
Quarter Number 6
Common share price
$44.72
Quarterly EPS
$0.61
18.22
Actual unit price
$103.96
$19.63
7.62%
8.00%
$0.00

Short-term
2-year loan
2.74%
3.11%

7
Units forecast
118,532
$105.64
100,000
90,000
Other overhead
183,497
531,875
Projects
Plant
90,567
1,473,750

Short-term
2-year
312,500
3-year
Bonds
575,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$38.06

Short-term
2-year loan
2.55%
2.76%

Short-term
$0
Intermediate
$242,716
Bonds
$432,961

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$10,948,049
109,849
$380,104
$11,057,898
$4,910,000
2,409,063
7,319,064
$7,699,168
0
7,699,168
$3,358,729
$1,547,403
$0
0
283,881
504,799
0
788,680
2,336,082
$1,022,647
0
$1,022,647
409,058
$613,589
0
$613,589
100,000
$513,589
$3,483,957
28,722,969
$32,206,926
$4,467,678
13,983,334
$18,451,011
13,755,916
$32,206,926
Accumulated Wealth
$45.04
Dividend Yield
0.89%
0.76%
Actual unit demand
109,051
5.09%
Return on equity
17.84%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.77%
3.80%
8.00%
10
133,519
128,059
98,872
$107.39
$104.66
$100.97
100,000
100,000
100,000
90,000
85,000
85,000
183,497
183,497
183,497
531,875
509,375
509,375
90,567
90,567
90,567
1,568,750
1,568,750
1,568,750
312,500
500,000
833,333
575,000
575,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$53.00 Plant
Next 40,000
Next 20,000
$28.06
3-year loan
$25.00
Bond
3.01%
Cost
Over 120,000
$33.00
Preferred
3.87%
Unit Capacity
5.13%
Overhead Saving
$569,112
100,000
$12,815
$394,272
120,000
($8,202)
$105.00
$0
1.00%
4
25,000
no
0
0
$0
$0
$364.00
$0.70
$0.01
$0.65
($0.01)

90,000
$0.15
$0
$0

Project A
10,000
yes
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
($500,000)
$0
Special Options
Quarter Number 7
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,350,000
3,062,400
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$11,954
693,581
1,473,750
170,682
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 7
ASSETS
Current Assets
Cash
$366,710
1,592,779
Accounts Receivable
1,304,950
399,581

Plant
$4,287,000
23,367,750
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$458,308
1,979,165
Bonds Maturing
1,699,996

3 years
Bonds
$0
3,750,000
9,125,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
6,306,298
Total Equity
Summary Data
Quarter Number 7
Common share price
$40.15
Quarterly EPS
$0.70
14.33
Actual unit price
$106.27
$19.48
8.95%
8.00%
$0.00

Short-term
2-year loan
2.55%
3.11%

8
Units forecast
121,132
$107.91
100,000
100,000
Other overhead
170,682
598,125
Projects
Plant
161,706
1,568,750

Short-term
2-year
312,500
3-year
Bonds
575,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.31

Short-term
2-year loan
2.62%
2.84%

Short-term
$0
Intermediate
$214,129
Bonds
$411,123

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$9,660,523
9,403
$0
$9,669,926
$4,412,400
2,349,966
6,762,367
$6,762,366
399,581
6,362,786
$3,307,139
$1,483,026
$0
0
223,847
432,961
0
656,808
2,139,834
$1,167,305
0
$1,167,304
466,921
$700,383
0
$700,383
150,000
$550,383
$3,664,018
27,654,750
$31,318,768
$4,137,469
12,875,001
$17,012,470
14,306,298
$31,318,768
Accumulated Wealth
$40.63
Dividend Yield
1.47%
0.59%
Actual unit demand
115,856
5.13%
Return on equity
19.58%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.77%
3.80%
8.00%
10
11
119,208
102,426
110,375
$107.87
$100.59
$101.17
100,000
100,000
75,000
95,000
95,000
75,000
170,682
170,682
170,682
575,625
575,625
455,625
161,706
161,706
161,706
1,568,750
1,568,750
1,255,000
833,333
833,333
575,000
275,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$52.00 Plant
Next 40,000
Next 20,000
$27.31
3-year loan
$25.00
Bond
3.13%
Cost
Over 120,000
$33.00
Preferred
4.05%
Unit Capacity
5.13%
Overhead Saving
$570,480
100,000
$15,686
$422,784
120,000
($8,212)
$115.00
$0
1.00%
0
0
no
0
0
$0
$0
$359.00
$0.71
$0.04
$0.70
($0.01)

100,000
$0.15
$0
($400,000)

Project A
12,500
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
$3,000,000
$0
Special Options
Quarter Number 8
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,331,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$0
759,831
1,568,750
170,682
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 8
ASSETS
Current Assets
Cash
$494,544
1,192,779
Accounts Receivable
1,552,387

Plant
$4,177,169
26,536,500
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$500,168
3,499,998
Bonds Maturing
1,399,996

3 years
Bonds
$0
4,666,667
8,850,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
7,036,550
Total Equity
Summary Data
Quarter Number 8
Common share price
$43.52
Quarterly EPS
$0.88
12.36
Actual unit price
$108.25
$19.49
10.37%
8.00%
$0.00

Short-term
2-year loan
2.62%
3.11%

9
Units forecast
123,404
$108.32
100,000
107,500
Other overhead
170,682
656,875
Projects
Plant
161,706
1,568,750

Short-term
2-year
3-year
250,000
Bonds
575,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.26

Short-term
2-year loan
2.70%
2.88%

Short-term
$0
Intermediate
$300,315
Bonds
$389,285

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$11,492,300
9,590
$399,581
$11,501,890
$4,831,000
2,499,262
7,330,263
$7,729,843
0
7,729,843
$3,772,046
$1,574,615
$0
0
319,226
411,123
0
730,349
2,304,964
$1,467,082
0
$1,467,081
586,832
$880,249
0
$880,249
150,000
$730,249
$3,239,710
30,713,669
$33,953,379
$5,400,162
13,516,667
$18,916,829
15,036,547
$33,953,379
Accumulated Wealth
$44.16
Dividend Yield
1.35%
0.80%
Actual unit demand
121,620
5.13%
Return on equity
23.42%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.68%
3.80%
8.00%
10
11
12
103,229
96,799
98,361
$100.24
$105.25
$102.47
112,500
87,500
87,500
107,500
87,500
77,500
170,682
170,682
170,682
656,875
536,875
484,375
161,706
161,706
161,706
1,805,625
1,491,875
1,491,875
1,083,333
1,083,333
1,083,333
275,000
275,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$44.00 Plant
Next 40,000
Next 20,000
$27.26
3-year loan
$25.00
Bond
3.11%
Cost
Over 120,000
$33.00
Preferred
3.90%
Unit Capacity
5.20%
Overhead Saving
$453,312
100,000
$13,078
$673,152
120,000
($10,364)
$110.00
$0
1.00%
0
12,500
no
0
0
$0
$0
$299.00
$0.56
$0.01
$1.12
($0.04)

100,000
$0.10
$0
($600,000)

Project A
12,500
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
$1,800,000
$0
Special Options
Quarter Number 9
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,326,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
$0
818,581
1,568,750
170,682
Extraordinary Items
Income Before Taxes
Income After Taxes
Position Statement
Quarter Number 9
ASSETS
Current Assets
Cash
$491,370
Accounts Receivable
592,779
1,474,000
0

Plant
$3,908,588
28,955,250
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$499,668
4,933,331
Bonds Maturing
1,099,996

3 years
Bonds
$0
4,633,334
8,575,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
7,680,657
Total Equity
Summary Data
Quarter Number 9
Common share price
$41.71
Quarterly EPS
$0.74
14.01
Actual unit price
$107.59
$19.24
8.40%
8.00%
$0.00

Short-term
2-year loan
2.70%
3.11%

10
Units forecast
101,176
$99.06
112,500
120,000
Other overhead
170,682
725,625
Projects
Plant
161,706
1,805,625
Short-term
2-year
3-year
1,233,333
Bonds
275,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.21

Short-term
2-year loan
1.89%
1.91%

Short-term
$0
Intermediate
$344,185
Bonds
$367,447

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$10,912,000
5,651
$0
$10,917,651
$4,825,999
2,558,012
7,384,013
$7,384,012
0
7,384,012
$3,533,638
$1,545,600
$0
0
358,576
389,285
0
747,861
2,293,461
$1,240,177
0
$1,240,176
496,070
$744,106
0
$744,106
100,000
$644,106
$2,558,148
32,863,838
$35,421,986
$6,532,995
13,208,334
$19,741,329
15,680,656
$35,421,986
Accumulated Wealth
$42.47
Dividend Yield
0.95%
0.95%
Actual unit demand
119,827
5.20%
Return on equity
18.98%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.60%
3.80%
8.00%
11
12
13
112,129
126,307
106,860
$105.15
$110.02
$111.27
100,000
100,000
100,000
100,000
90,000
80,000
170,682
170,682
170,682
605,625
553,125
495,625
161,706
161,706
161,706
1,691,250
1,691,250
1,691,250
1,233,333
1,233,333
1,233,333
275,000
275,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$48.00 Plant
Next 40,000
Next 20,000
$27.21
3-year loan
$25.00
Bond
1.93%
Cost
Over 120,000
$33.00
Preferred
1.98%
Unit Capacity
2.55%
Overhead Saving
$495,096
100,000
$15,892
$612,240
120,000
($8,547)
$110.00
$0
1.00%
0
12,500
no
0
0
$0
$0
$329.00
$0.61
$0.04
$1.02
($0.01)

112,500
$0.00
$0
($500,000)

Project A
0
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
($1,200,000)
$0
Special Options
Quarter Number 10
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,687,500
3,633,500
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$35,576
887,331
1,805,625
170,682
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 10
ASSETS
Current Assets
Cash
$723,639
Accounts Receivable
92,779
1,375,672
681,145

Plant
$3,021,257
27,149,624
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$549,168
3,649,999
Bonds Maturing
1,099,996

3 years
Bonds
$0
3,483,334
8,300,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
7,961,620
Total Equity
Summary Data
Quarter Number 10
Common share price
$29.66
Quarterly EPS
$0.28
26.39
Actual unit price
$100.66
$39.30
3.40%
8.00%
$0.00

Short-term
2-year loan
1.89%
3.11%

11
Units forecast
111,220
$103.31
100,000
100,000
Other overhead
170,682
605,625
Projects
Plant
161,706
1,691,250

Short-term
2-year
3-year
33,333
Bonds
275,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.16

Short-term
2-year loan
2.03%
2.05%

Short-term
$0
Intermediate
$256,640
Bonds
$357,003

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$10,184,081
922
$0
$10,185,003
$5,320,999
2,899,213
8,220,214
$8,220,213
681,145
7,539,068
$2,645,934
$1,509,204
$0
0
301,011
367,447
0
668,458
2,177,662
$468,272
0
$468,271
187,308
$280,963
0
$280,963
0
$280,963
$2,873,235
30,170,882
$33,044,117
$5,299,163
11,783,334
$17,082,497
15,961,620
$33,044,117
Accumulated Wealth
$30.44
Dividend Yield
0.00%
0.99%
Actual unit demand
99,425
2.54%
Return on equity
7.04%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.60%
3.80%
8.00%
12
13
14
115,296
138,968
145,798
$106.20
$109.46
$111.80
100,000
100,000
100,000
90,000
80,000
60,000
170,682
170,682
187,185
553,125
495,625
375,625
161,706
161,706
71,139
1,691,250
1,691,250
1,691,250
1,233,333
1,233,333
1,150,000
275,000
275,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$54.00 Plant
Next 40,000
Next 20,000
$27.16
3-year loan
$25.00
Bond
2.07%
Cost
Over 120,000
$33.00
Preferred
2.12%
Unit Capacity
2.66%
Overhead Saving
$722,640
100,000
$12,579
$633,552
120,000
($9,362)
$99.50
$0
1.00%
0
0
no
0
0
$0
$0
$366.00
$0.90
$0.01
$1.05
($0.03)

100,000
$0.00
$0
($92,779)

Project A
10,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
($3,000,000)
$0
Special Options
Quarter Number 11
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,316,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$538
767,331
1,691,250
170,682
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 11
ASSETS
Current Assets
Cash
$518,505
Accounts Receivable
0
1,516,014
39,995

Plant
$2,793,926
25,458,374
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$498,668
1,683,332
Bonds Maturing
1,099,996

3 years
Bonds
$0
2,416,667
8,025,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
8,603,148
Total Equity
Summary Data
Quarter Number 11
Common share price
$35.34
Quarterly EPS
$0.64
13.77
Actual unit price
$103.96
$37.64
8.46%
8.00%
$0.00

Short-term
2-year loan
2.03%
3.11%

12
Units forecast
115,773
$107.14
100,000
100,000
Other overhead
170,682
620,625
Projects
Plant
161,706
1,691,250

Short-term
2-year
3-year
Bonds
275,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.11

Short-term
2-year loan
2.01%
1.66%

Short-term
$0
Intermediate
$147,508
Bonds
$346,559

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$11,223,028
0
$681,145
$11,223,028
$4,815,999
2,629,800
7,445,801
$8,126,946
39,995
8,086,951
$3,136,076
$1,561,151
$0
0
148,707
357,003
0
505,710
2,066,861
$1,069,215
0
$1,069,214
427,685
$641,529
0
$641,529
0
$641,529
$2,074,511
28,252,300
$30,326,811
$3,281,996
10,441,667
$13,723,663
16,603,149
$30,326,811
Accumulated Wealth
$36.15
Dividend Yield
0.00%
0.98%
Actual unit demand
108,927
2.66%
Return on equity
15.46%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.60%
3.80%
8.00%
13
14
15
117,770
162,333
160,701
$110.31
$112.95
$119.31
100,000
100,000
100,000
90,000
70,000
45,000
170,682
187,185
200,000
563,125
443,125
283,750
161,706
71,139
1,691,250
1,691,250
1,691,250
616,667
1,066,667
275,000
275,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$57.00 Plant
Next 40,000
Next 20,000
$27.11
3-year loan
$25.00
Bond
1.82%
Cost
Over 120,000
$33.00
Preferred
2.15%
Unit Capacity
2.82%
Overhead Saving
$518,088
100,000
$13,215
$695,160
120,000
($8,523)
$104.00
$0
1.00%
0
0
no
0
0
$0
$0
$390.00
$0.64
$0.01
$1.15
($0.01)

100,000
$0.00
$0
$0

Project A
10,000
no
Financing Decisions
Short-term loans
$0
Two-year loans
$0
Three-year loans
Ten-year bonds
($2,500,000)
$0
Special Options
Quarter Number 12
Cost of Goods Sold:
$0.00
Materials
Direct Labor
$1,500,000
3,311,000
Total Direct Costs

Warehousing Costs
Plant
Cost of Goods Sold
Gross Profit
Financial Expenses:
Bond Interest
Extraordinary Items
$0
782,331
1,691,250
170,682
Income Before Taxes

Income After Taxes
Position Statement
Quarter Number 12
ASSETS
Current Assets
Cash
$547,587
Accounts Receivable
0
1,454,986
0

Plant
$2,581,595
23,767,124
Total Fixed Assets

Total Assets
Current Liabilities
Accounts Payable
$498,168

Bonds Maturing
250,000
1,099,996

3 years
Bonds
$0
1,350,000
7,750,001

Total Liabilities
Owners' Equity
$0
8,000,000
Retained Earnings
9,403,127
Total Equity
Summary Data
Quarter Number 12
Common share price
$36.58
Quarterly EPS
$0.80
11.43
Actual unit price
$107.92
$35.50
11.29%
8.00%
$0.00

Short-term
2-year loan
2.01%
3.11%

13
Units forecast
124,360
$110.38
100,000
100,000
Other overhead
170,682
634,375
Projects
Plant
161,706
1,691,250

Short-term
2-year
3-year
Bonds
275,000
Warehouse fees:
Units
Cost/Unit
Materials
$15.00
Units
First 60,000
Labor cost
$37.06

Short-term
2-year loan
1.88%
1.53%

Short-term
$0
Intermediate
$57,564
Bonds
$336,115

Life
A
2-yr
3-yr
Per unit price

Advertising cost
Sales discount

Project B
Preferred shares
Common shares
Common tender price
Dollar penalty
$10,771,239
0
$39,995
$10,771,239
$4,811,000
2,644,262
7,455,263
$7,495,257
0
7,495,257
$3,275,981
$1,538,562
$0
0
57,564
346,559
0
404,123
1,942,684
$1,333,297
0
$1,333,296
533,318
$799,978
0
$799,978
0
$799,978
$2,002,572
26,348,719
$28,351,291
$1,848,164
9,100,000
$10,948,164
17,403,126
$28,351,291
Accumulated Wealth
$37.41
Dividend Yield
0.00%
0.99%
Actual unit demand
120,759
2.82%
Return on equity
18.39%
Bond call premium
8.00%
$0.00
3-year loan
Bonds
Penalty loan
3.60%
3.80%
8.00%
14
15
16
138,858
156,519
117,246
$116.19
$114.63
$107.10
100,000
100,000
100,000
80,000
55,000
45,000
187,185
200,000
200,000
514,375
355,000
288,750
71,139
1,691,250
1,691,250
1,691,250
250,000
275,000
275,000
275,000
First 2000
Next 5000
$1.00
Over 7000
$3.00
Machinery
$8.00
$65.00 Plant
Next 40,000
Next 20,000
$27.06
3-year loan
$25.00
Bond
1.68%
Cost
Over 120,000
$33.00
Preferred
2.06%
Unit Capacity
2.64%
Overhead Saving
$560,088
100,000
$16,487
$381,624
120,000
($8,657)
$108.00
$0
1.00%
0
0
no
0
0
$0
$0
$441.00
$0.69
$0.04
$0.63
($0.02)
Total Equity
Total Liabilites
Account Receivable
DE Ratio
Q1
$
$
11,190,512
5,707,500
#REF!
0.51
Q1
Capacity
Unit Produced
Actual Unit Demand
Sold Unit
Beginning inventory
Ending inventory
100000
#REF!
#REF!
97383
9809
12,426
Actual Unit Price

Decision Price Per Unit
Unit Plant
Unit Machine
#REF!
#REF!
100000
100000
Earning to common stockholder

Net Income
Dividend
Total Share
Quarterly EPS
Quarter ROE
Return on equity
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
Interest
#REF!
Loan (Balance Sheet)

#REF!
Financing Decisions
Short-term loans
#REF!
Two-year loans
#REF!
Three-year loans
#REF!
Ten-year bonds
#REF!

Short-term
2-year loan
3-year loan
Bonds
Penalty loan
#REF!
#REF!
#REF!
#REF!
#REF!
Rates on funding in next quarter

Short-term
2-year loan
3-year loan
Bond
Preferred
#REF!
#REF!
#REF!
#REF!
#REF!
Stock Price
Prefered Price
#REF!
#REF!
Project A
Project B
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
Total Financial Charge
Cost of Debt
Tax Rate
Risk Premium
Cost of Equity
Total Long-term Liabilites
Total Equity
Total LTL&E
Proportion of Debt
Proportion of Equity
WACC
#REF!
#REF!
40%
#REF!
#REF!
#REF!
11,190,512
#REF!
#REF!
#REF!
#REF!
Q2
$
$
Q3
11,963,263 $
11,153,841 $
#REF!
0.93
Q4
12,690,219 $
16,341,347 $
#REF!
1.29
Q5
12,841,082 $
15,702,324 $
#REF!
1.22
Q2
Q3
Q4
Q5
13,242,328
14,298,103
#REF!
1.08
#REF!
#REF!
#REF!
104228
12426
8,198
#REF!
#REF!
#REF!
108198
8,198
0
#REF!
#REF!
#REF!
95530
0
9470
#REF!
#REF!
#REF!
104362
9470
5108
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
11,963,263
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
12,690,219
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
12,841,082
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
13,242,328
#REF!
#REF!
#REF!
#REF!
Q6
$
$
Q7
13,755,916 $
18,451,011 $
#REF!
1.34
Q8
14,306,298 $
17,012,470 $
#REF!
1.19
Q9
15,036,547 $
18,916,829 $
#REF!
1.26
Q6
Q7
Q8
Q9
15,680,656
19,741,329
#REF!
1.26
#REF!
#REF!
#REF!
105108
5108
0
#REF!
#REF!
#REF!
84682
0
5318
#REF!
#REF!
#REF!
105318
5318
0
#REF!
#REF!
#REF!
100000
0
0
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
13,755,916
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
14,306,298
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
15,036,547
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
15,680,656
#REF!
#REF!
#REF!
#REF!
Q10
$
$
Q11
15,961,620 $
17,082,497 $
#REF!
1.07
Q12
16,603,149 $
13,723,663 $
#REF!
0.83
Q10
Q11
Q12
17,403,126
10,948,164
#REF!
0.63
#REF!
#REF!
#REF!
103178
0
9322
#REF!
#REF!
#REF!
108784
9322
538
#REF!
#REF!
#REF!
100538
538
0
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
1000000
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
15,961,620
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
16,603,149
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
40%
#REF!
#REF!
#REF!
17,403,126
#REF!
#REF!
#REF!
#REF!
Quarter
DE Ratio
Q1
Q2
Quarter
Total Equity
Q1
Q2
Q3
Q4
Q5
11190512 11963263 12690219 12841082 13242328
Quarter
Total Liabilites
Q1
Q2
Q3
Q4
Q5
5707500 11153841 16341347 15702324 14298103
0.51
Q3
0.93
Q4
1.29
Q5
1.22
1.08
Quarter
WACC
Q1
Q2
#REF!
Q3
#REF!
Q4
#REF!
Q5
#REF!
#REF!
Q6
Q7
1.34
Q8
1.19
Q9
1.26
Q10
1.26
Q11
1.07
Q12
0.83
0.63
1.60
1.40
1.20
1.00
0.80
0.60
0.40
0.20
0.00
Q1
Q6
Q7
Q8
Q9
Q10
Q11
Q12
13755916 14306298 15036547 15680656 15961620 16603149 17403126
Q6
Q7
Q8
Q9
Q10
Q11
Q12
18451011 17012470 18916829 19741329 17082497 13723663 10948164
Q2
Q6
Q7
#REF!
Q8
#REF!
Q9
#REF!
Q10
#REF!
Q11
#REF!
Q12
#REF!
#REF!
DE Ratio
1.60
1.40
1.20
1.00
DE Ratio
0.80
0.60
0.40
0.20
0.00
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10 Q11 Q12
Total Equity
20000000
18000000
16000000
14000000
12000000
10000000
8000000
6000000
4000000
2000000
0
Q1
Total Equity
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9 Q10 Q11 Q12
Total Liabilites
25000000
20000000
15000000
Total Liabilites
10000000
5000000
0
Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12
15000000
Total Liabilites
10000000
5000000
0
Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12
WACC
1200.00%
1000.00%
800.00%
WACC
600.00%
400.00%
200.00%
0.00%
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10 Q11 Q12
Q1
Price
EPS
PE
Q2
#REF! $
#REF!
#REF!
Q3
Q4
52.73 $ 81.38 $
0.96
1.12
13.67
18.20
Q5
50.26 $
0.50
25.30
51.86
0.82
15.76
Y1
Total EPS
#REF!
Summary Information
Quarterly CAGR
Yearly CAGR
Min PE
AVG PE
Median PE
MAX PE
Forward EPS Q16 (w/Qu

Forward EPS Q16
Q12 PE
Forward PE Q16 (w/Qua

Year EPS
Min PE
AVG PE
Median PE
Max PE
Forward PE Q16 (w/Year

Year EPS
Min PE
AVG PE
Median PE
Max PE
Stock Price Median PE

#REF!
#REF!
Margin of Yearly
Safety
CAGR
#REF!
#REF!
Forward EPS
Q16
#REF!
Q6
$
Q7
60.49 $
0.80
18.84
Q8
65.34 $
1.13
14.48
Q9
67.98 $
1.33
12.83
Q10
61.66 $
1.14
13.50
Q11
39.88 $
57.54
0.53
0.87
18.69
16.59
Y2
4.08
mmary Information
uarterly CAGR
arly CAGR
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
Begin
rward EPS Q16 (w/Quarterly CAGR)

rward EPS Q16
Q1
0.87
3.41
16.59
rward PE Q16 (w/Quarterly CAGR)

#REF! Current Stock Price
PE
Stock Price
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
$57.54
Margin of Safety
#REF!
#REF!
#REF!
#REF!
rward PE Q16 (w/Yearly CAGR)

#REF! Current Stock Price
PE
Stock Price
#REF!
$57.54
Margin of Safety
#REF!
0.00%
Q2
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
Q12
$
57.54
0.87
16.59
Y3
3.41
Q3
Q4
#REF!
SUM
#REF!
#REF!
#REF!
Capacity
Unit Produced
Actual Unit Demand
Sold Unit
Beginning inventory
Ending inventory
Q1
100,000
100,000
97,383
97,383
9,809
12,426
Q2
100,000
100,000
104,228
104,228
12,426
8,198
Q3
100,000
100,000
110,746
108,198
8,198
-
Actual Unit Price

Unit Plant
Unit Machine
100.00
100.00
100,000
100,000
102.31
102.31
100,000
100,000
104.62
104.62
100,000
120,000
N&N tried to maintain production capacity of 100,000 units but which actually can't capture
Because of low capacity so their inventory is volatile sometime high sometime low. I doubt
Units
140,000
120,000
Capacity
100,000
Unit Produced
80,000
Actual Unit Dem
60,000
Sold Unit
40,000
20,000
-
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10 Q11 Q12
Q4
105,000
105,000
95,530
95,530
9,470
Q5
100,000
100,000
104,362
104,362
9,470
5,108
Q6
100,000
100,000
109,051
105,108
5,108
-
Q7
90,000
90,000
115,856
84,682
5,318
Q8
100,000
100,000
121,620
105,318
5,318
-
99.34
99.34
120,000
105,000
102.31
102.31
125,000
100,000
103.96
105.00
100,000
120,000
106.27
115.00
100,000
90,000
108.25
110.00
100,000
100,000
hich actually can't capture the demand 8 quarters so in our opinion they set low capacity that they should incre
gh sometime low. I doubt about buy plant & machine because it is almost not relavance in most of quarter so I t
1 Q12
Price
120.00
Capacity
Unit Produced
Actual Unit Demand
Sold Unit
115.00
110.00
105.00
100.00
95.00
90.00
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10
Q9
100,000
100,000
119,827
100,000
-
Q10
112,500
112,500
99,425
103,178
9,322
Q11
100,000
100,000
108,927
108,784
9,322
538
Q12
100,000
100,000
120,759
100,538
538
-
107.59
110.00
100,000
107,500
100.66
99.50
112,500
120,000
103.96
104.00
100,000
100,000
107.92
108.00
100,000
100,000
w capacity that they should increase about 5-10% to capture demand

elavance in most of quarter so I think they can better on adjust timing to invest in plant and machine in the futu
Price
Actual Unit Price

Q6
Q7
Q8
Q9
Q10
Q11
Q12
nt and machine in the future
Q1
Q2
Q3
Cash on hand
Account Receivable
Inventory
S-T Loan Penalty
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
Current Assets
Current Liabilites
Current Ratio
Quick Ratio
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
After Q5 they maintain cash around $500,000, I think it because of S-T Loan Penalty from Q
May be they can do better than this by less account receivable to repay loan for better perf
Current Assets Items

12
10
Cash on hand
Account Receivable
Inventory
4
2
-
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10
Q11
Q12
Current Assets vs Current Liabilities

12
10
8
Current Assets
Current Liabilites
6
4
2
-
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10
Q11
Q12
Current Assets
Current Liabilites
6
4
2
-
Q1
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10
Q11
Q12
Q4
Q5
Q6
Q7
Q8
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
Loan Penalty from Q2 - Q5 so they decide to keep more cash. After Q9 their current ratio is rising. It is a good sig
y loan for better performance.
Current Ratio
12.00
10.00
sh on hand
rketable Securities
count Receivable
entory
8.00
Curr
6.00
4.00
2.00
0.00
Q1
es
Current Assets
Current Liabilites
Q2
Q3
Q4
Q5
Q6
Q7
Q8
Q9
Q10 Q11 Q12
Current Assets
Current Liabilites
Q9
Q10
Q11
Q12
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
ising. It is a good sign for future that they will less have liquidity problem in the future
Current Ratio
Q11 Q12

Decision Inputs Quarterly Reports

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Decision Inputs Quarterly Reports

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Decision Inputs for Quarter Number 1

Company Operating Decisions

Div. per common share

Decision Inputs for Quarter Number 3

Div. per common share

Decision Inputs for Quarter Number 5

Div. per common share

Decision Inputs for Quarter Number 7

Company Operating Decisions

Div. per common share

Div. per common share

Risk of S-T investment

Units of plant bought

Machine units bought

Common tender price

Strike settlement (per hr.)

Div. per common share

Risk of S-T investment

Common tender price

Strike settlement (per hr.)

Risk of S-T investme

Units of plant bough

Machine units bought

Common tender pric

Strike settlement (per hr.)

Company Operating Decisions

Risk of S-T investme

Units of plant bough

Machine units bought

Common tender pric

Strike settlement (per hr.)

Decision Inputs for Quarter Number 2

Per unit price

Risk of S-T investment

Units of plant bought

Common tender price

Per unit price

Decision Inputs for Quarter Number 4

Risk of S-T investment

Units of plant bought

Common tender price

Decision Inputs for Quarter Number 6

Per unit price

Risk of S-T investme

Units of plant bough

Common tender pric

Decision Inputs for Quarter Number 8

Per unit price

Risk of S-T investme

Units of plant bough

Common tender pric

Quarterly Performance Report

Income from securities

Cost of Goods Sold:

Total Direct Costs

Production Costs ( 100,000 at $70.39 )

Goods Available for Sale ( $70.78 per unit )

Less: Ending Inventory ( 12,426 units )

Cost of Goods Sold

Penalty Loan Interest

Intermediate Term Loan Interest

Bond Redemption Costs