Input Data

Sales
COGS/Sales
Operating Expenses / Sales
Interest Rate
Tax Rate
Dividends (Thousand pounds)
Curr. Assets/Sales
Curr. Liabs. / Sales
Fixed Assets
Starting Equity
Income Statement
Sales
COGS
Operating Expenses
Interest Expense (Income)
Profit before tax
Tax
Profit after tax
Dividends
Earnings retained
Balance Sheet

2002
422'733
0.38
0.50
0.06
0.30
10'900
0.32
0.28
110'600
121'600
2002
422'733
160'639
211'367
-1'171
51'899
15'570
36'329
10'900
25'429
2002

2003
477'688
0.38
0.50
0.06
0.30
10'900
0.32
0.28
110'600
121'600
2003
477'688
181'522
238'844
-2'915
60'238
18'071
42'167
10'900
31'267
2003

2004
539'788
0.38
0.50
0.06
0.30
10'900
0.32
0.28
110'600
121'600
2004
539'788
205'119
269'894
-5'045
69'819
20'946
48'873
10'900
37'973
2004

Excess Cash
Current Assets
Fixed Assets
Total Assets

19'520
135'275
110'600
265'395

48'588
152'860
110'600
312'049

84'078
172'732
110'600
367'410

Current Liabilities
Debt
Equity
Total Liab. & Net Worth

118'365
0
147'029
265'395

133'753
0
178'296
312'049

151'141
0
216'269
367'410

Trial Assets
Trial Liabilities and Equity
Plug: Debt (Excess Cash)

245'875
265'395
-19'520

263'460
312'049
-48'588

283'332
367'410
-84'078

Sensitivity Analysis
Debt and Excess Cash
by COGS/Sales Ratio
COGS/Sales

Debt
+B34
0.35
0.38
0.4
0.42
0.44
0.45
0.48

0
0
0
0
0
2'102
11'369

Ex. Cash
+B28
28'787
19'520
13'342
7'165
987
0
0