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Cost of Sales
103 65% 19.41% 19.85%
104 68% 12.10% 12.40%
105 70% 6.44% 6.61%
106 75% -11.51% -11.88%
107
108
109
110 Sensitivity of Net Income to Key Variables
111 (Applied to 2008 Income Statement Data)
112 70% 80% 90% 100% 110% 120%
113
114 Sales (118,681) (77,789) (36,897) 3,995 44,887 85,779
115
116 COGS 91,768 62,510 33,253 3,995 (25,263) (54,520)
117
118 Selling and Admin. 33,641 23,759 13,877 3,995 (5,887) (15,769)
119
120
121
I J K L M N O P Q
CE ANALYSIS
1 Requirements:
2 + Go to the Report section: the projecting
part for 2010 has been done for you (LUCKY
3 FOR YOU!!!).
4
5 + Insert formulas in yellow cells in the table
6 "Ratios for the projected 2010"
7 + Generate the two blue tables. What are the
8 possible inference that you can get from these
9 two what-if analyses?
10
+In the table "Sensitivity...” construct formulas
11 for cells C114, C116 and C118 and copy them
12 across. Instruction:
13 C114 =($E$35*C112)-($E$38+$E$39+$E$40+
14 $E$41)-$E$46-$E$49
15 C116 =$E$35-($E$38*C112+$E$39+$E$40+
16 $E$41)-$E$46-$E$49
C118 =$E$35-($E$38+$E$39*C112+$E$40+
17
$E$41)-$E$46-$E$49
18
19 + From the "Sensitivity..." table, produce a
20 Line Graph and conclude from the chart what
21 variable has the most effect on Net Income (it
22 is the variable with the steepest line)
23
24
25
26
27
28
29
30
Projected Sales
315%
Increase
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
I J K L M N O P Q
49
50
51
52
53 Sales
Projected
Increase
54 5%
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
Sales Growth89Rates
90 10%
91 7.92%
92 4.62%
93 2.64%
94 1.32%
95 -1.98%
96
97
98
99
I J K L M N O P Q
100Rates
Sales Growth
101 10%
102 30.19%
103 20.15%
104 12.60%
Net Income(000's)
105 6.72%
106 -12.12%
107
108
150,000
109
110 100,000
111
112 130% 50,000
113
0
114 126,671 70% 80% 90% 100% 110% 120% 130%
115 (50,000)
116 (83,778)
(100,000)
117
118 (25,651) (150,000) Sa l es Li ne a r (Sa l es )
119 Li nea r (Sa l es ) Li ne a r (Sa l es )
COGS Sel l i ng a nd Admi n.
120
121
R S T
100
101
102
103
104
105
106
107
108
109
110
111
112
113
100% 114
110% 120% 130%
115
116
117
Li nea r118
(Sa l es )
Li nea r119
(Sa l es )
Sel l i ng a nd Admi n.
120
121
G32: Projected Sales Increase 5%
DATA SECTION
Investment 2,000,000
Project life 15
Annual cashflow 300,000
Discount rate 10%
REPORT SECTION
Data-table $ 281,823.85
7% $ 732,374.20
7.5% $ 648,135.92
8% $ 2,500,000.00
8.5% $ 491,270.97
9% $ 418,206.53
discount rate
9.5% $ 2,500,000.00
10% $ 281,823.85
10.5% $ 218,147.38
11% $ 567,843.61
11.5% $ 99,012.35
12% $ 43,259.35
12.5% $ 348,452.50
13% $ (61,286.35)
13.5% $ (110,322.12)