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Essentially, a dashboard report is a way to visually present critical data in summary form so that you can make

quick and effective decisions, in much the same way that a car dashboard works.

J-Dash™ uses charts and graphs to develop into a broad spectrum analysis of your firm's health. This is all done by
entering into the Master Data Entry worksheet numbers that are broadcasted throughout hundreds of cells.

The steps are simple:


1) Obtain 4 periods of financials (Years or Quarters)
2) Enter financial data into Master Data Entry worksheet
3) Perform What-if analyses (Optional)
4) Print, Email, and Present - Done

© Copyright, 2007, Jaxworks, All Rights Reserved.


Since 1996, JaxWorks has offered a suite of Free Excel workbooks and spreadsheets, and ass
documents, that cover a number of financial, accounting and sales functions. These are invalua

Also included Free are:


- business plan tools, including spreadsheets and excellent instructions
- Excel functions glossary and guide;
- free training courses for most Microsoft Office applications. These guides are in
PDF format and rival commercial books!
- comprehensive list of acronyms, ratios and formulas in customer financial
analysis, and financial terms;
- suite of online calculators, including, breakeven analysis, productivity analysis,
business evaluation;
- Altman Z-Score (covering publicly and privately held firms, and small
businesses);
- and payroll analysis.

If you are involved in financial analysis at any level, or want to learn more about MS Excel and o
suite this site is invaluable.

JaxWorks Small Business Spreadsheet Factory


preadsheets, and associated MS Word, PDF and HTML
ns. These are invaluable small business tools.

ides are in

ncial

analysis,

about MS Excel and other applications in the Office

sheet Factory
Start Year 2004
Corporation Type (C or S) C 'C' Corporation format selected; income taxes WILL be computed

INCOME STATEMENT

Financials Total
2004 2005 2006 2007 4 Periods
Sales
Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100 $6,810,100
Cost of Goods Sold $945,000 $865,000 $833,000 $946,616 $3,589,616

Gross profit $1,055,000 $635,000 $467,000 $1,063,484 $3,220,484

Expenses
Operating expenses $424,000 $318,000 $275,600 $426,141 $1,443,741
Interest $16,250 $16,250 $16,250 $16,250 $65,000
Depreciation $32,500 $33,958 $33,958 $33,958 $134,374
Amortization $1,250 $1,250 $1,250 $1,250 $5,000
Subtotal (IDA) $50,000 $51,458 $51,458 $51,458 $204,374
Total expenses $474,000 $369,458 $327,058 $477,599 $1,648,115

Operating income $581,000 $265,542 $139,942 $585,885 $1,572,369

Other income and expenses


Gain (loss) on sale of assets $100,000 $10,000 $3,000 $405,700 $518,700
Other (net) $20,000 $50,000 $100,000 $200,000 $370,000
Subtotal $120,000 $60,000 $103,000 $605,700 $888,700

Income before tax $701,000 $325,542 $242,942 $1,191,585 $2,461,069


Please enter a tax percentage
Taxes @ 30% $210,300 $97,663 $72,883 $357,475 $738,321

Net income $490,700 $227,879 $170,059 $834,109 $1,722,748

Retained earnings-beginning $1,400,000 $1,890,700 $2,118,579 $2,288,638 $1,400,000

Dividends paid $0 $0 $0 $50,000 $50,000

Retained earnings-ending $1,890,700 $2,118,579 $2,288,638 $3,072,747 $3,072,748

BALANCE SHEET

Actual Financials
2003 2004 2005 2006 2007
ASSETS
Current Assets
Cash and cash equivalents $451,000 $90,360 $289,233 $614,196 $1,454,008
Accounts receivable $350,000 $657,534 $493,151 $427,397 $660,855
Inventory $400,000 $630,411 $590,959 $575,178 $631,208
Other current assets $10,000 $60,000 $45,090 $76,320 $50,000
Total Current Assets $1,211,000 $1,438,305 $1,418,433 $1,693,091 $2,796,071

Fixed Assets
Land $100,000 $112,500 $125,000 $137,500 $150,000
Buildings $1,500,000 $1,450,000 $1,450,000 $1,450,000 $1,450,000
Equipment $800,000 $875,000 $875,000 $875,000 $875,000
Subtotal $2,400,000 $2,437,500 $2,450,000 $2,462,500 $2,475,000
Less-accumulated depreciation $400,000 $432,500 $466,458 $500,416 $534,374
Total Fixed Assets $2,000,000 $2,005,000 $1,983,542 $1,962,084 $1,940,626

Intangible Assets
Intangible Assets Cost $50,000 $50,000 $50,000 $50,000 $50,000
Less-accumulated amortization $20,000 $21,250 $22,500 $23,750 $25,000
Total Intangible Assets $30,000 $28,750 $27,500 $26,250 $25,000

Other assets $25,000 $33,000 $120,000 $5,000 $23,000


Total Assets $3,266,000 $3,505,055 $3,549,475 $3,686,425 $4,784,697

Actual Forecast
LIABILITIES AND 2003 2004 2005 2006 2007
STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $600,000 $328,767 $328,767 $328,767 $328,767
Notes payable $100,000 $50,000 $50,000 $50,000 $50,000
Current portion of long-term debt $100,000 $100,000 $100,000 $100,000 $100,000
Income taxes $30,000 $183,300 $70,663 $45,883 $330,475
Accrued expenses $90,000 $83,288 $62,466 $54,137 $83,708
Other current liabilities $16,000 $12,000 $12,000 $12,000 $12,000
Total Current Liabilities $936,000 $757,355 $623,896 $590,787 $904,950

Non-Current Liabilities
Long-term debt $600,000 $500,000 $500,000 $500,000 $500,000
Deferred income $100,000 $90,000 $90,000 $90,000 $90,000
Deferred income taxes $30,000 $27,000 $27,000 $27,000 $27,000
Other long-term liabilities $50,000 $90,000 $40,000 $40,000 $40,000
Non-Current Liabilities Totals $780,000 $707,000 $657,000 $657,000 $657,000
Total Liabilities $1,716,000 $1,464,355 $1,280,896 $1,247,787 $1,561,950

Stockholders' Equity
Capital stock issued $100,000 $100,000 $100,000 $100,000 $100,000
Additional paid in capital $50,000 $50,000 $50,000 $50,000 $50,000
Retained earnings $1,400,000 $1,890,700 $2,118,579 $2,288,638 $3,072,747
Stockholders' Equity $1,550,000 $2,040,700 $2,268,579 $2,438,638 $3,222,747

Total Liabilities and Equity $3,266,000 $3,505,055 $3,549,475 $3,686,425 $4,784,697

"C" Corporation (Y/N) Y


Cash balance positive or (negative) Positive Positive Positive Positive Positive
Amount sheet is out-of-balance $0 $0 $0 $0 $0
Amount cash flow out-of-balance $0 $0 $0 $0

© Copyright, 2007, Jaxworks, All Rights Reserved.


Summary Dashboard
Sales Cost of Goods Sold

$2,500,000 $960,000

$940,000

$2,000,000 $920,000

$900,000

$1,500,000 $880,000

$860,000

$1,000,000 $840,000

$820,000

$500,000 $800,000

$780,000

$0 $760,000

2004 2005 2006 2007 2004 2005 2006 2007

Gross profit Total expenses

$1,200,000 $500,000

$450,000
$1,000,000
$400,000

$350,000
$800,000
$300,000

$600,000 $250,000

$200,000
$400,000
$150,000

$100,000
$200,000
$50,000

$0 $0
2004 2005 2006 2007 2004 2005 2006 2007

Income before tax Net income

$1,200,000 $900,000

$800,000
$1,000,000
$700,000

$800,000 $600,000

$500,000
$600,000
$400,000

$400,000 $300,000

$200,000
$200,000
$100,000

$0 $0
2004 2005 2006 2007 2004 2005 2006 2007

Comparative Analysis 4 Years


Income Statement

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0
2004 2005 2006 2007

Sales Cost of Goods Sold Gross Profit (Margin) Total Operating Expenses Earnings Before Inc.Taxes Net Income After Taxes

Cash and cash equivalents Accounts receivable

$1,600,000 $700,000

$1,400,000 $600,000

$1,200,000
$500,000
$1,000,000
$400,000
$800,000
$300,000
$600,000
$200,000
$400,000

$200,000 $100,000

$0 $0
2004 2005 2006 2007 2004 2005 2006 2007

Inventory Other current assets

$640,000 $80,000

$630,000
$70,000
$620,000
$60,000
$610,000

$600,000 $50,000

$590,000 $40,000

$580,000
$30,000
$570,000
$20,000
$560,000
$10,000
$550,000

$540,000 $0
2004 2005 2006 2007 2004 2005 2006 2007

Total Current Assets

$3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0
2004 2005 2006 2007

Land Buildings

$160,000 $1,600,000

$140,000 $1,400,000

$120,000 $1,200,000

$100,000 $1,000,000

$80,000 $800,000

$60,000 $600,000

$40,000 $400,000

$20,000 $200,000

$0 $0
2004 2005 2006 2007 2004 2005 2006 2007

Equipm ent Less-accumulated depreciation

$900,000 $600,000

$800,000
$500,000
$700,000

$600,000 $400,000

$500,000
$300,000
$400,000

$300,000 $200,000

$200,000
$100,000
$100,000

$0 $0
2004 2005 2006 2007 2004 2005 2006 2007

Total Fixed Assets

$2,020,000

$2,000,000

$1,980,000

$1,960,000

$1,940,000

$1,920,000

$1,900,000
2004 2005 2006 2007

Intangible Assets Cost Less-accumulated amortization

$50,000 $25,000

$45,000
$24,000
$40,000

$35,000
$23,000
$30,000

$25,000 $22,000

$20,000
$21,000
$15,000

$10,000
$20,000
$5,000

$0 $19,000
2004 2005 2006 2007 2004 2005 2006 2007

Total Intangible Assets Other assets

$29,000 $120,000

$28,000 $100,000

$27,000 $80,000

$26,000 $60,000

$25,000 $40,000

$24,000 $20,000

$23,000 $0
2004 2005 2006 2007 2004 2005 2006 2007

Total Assets

$ 5,0 00 ,00 0

$ 4,5 00 ,00 0

$ 4,0 00 ,00 0
$ 3,5 00 ,00 0

$ 3,0 00 ,00 0

$ 2,5 00 ,00 0
$ 2,0 00 ,00 0

$ 1,5 00 ,00 0

$ 1,0 00 ,00 0
$ 5 00 ,00 0

$0
20 0 4 2 00 5 2 00 6 2 0 07

Accounts payable Notes payable

$350,000 $50,000

$45,000
$300,000
$40,000

$250,000 $35,000

$30,000
$200,000
$25,000
$150,000
$20,000

$100,000 $15,000

$10,000
$50,000
$5,000

$0 $0
2004 2005 2006 2007 2004 2005 2006 2007

Current portion of long-term debt Income taxes

$ 10 0 ,0 00 $350,000

$ 90 ,0 00
$300,000
$ 80 ,0 00

$ 70 ,0 00 $250,000

$ 60 ,0 00
$200,000
$ 50 ,0 00
$150,000
$ 40 ,0 00

$ 30 ,0 00
$100,000
$ 20 ,0 00
$50,000
$ 10 ,0 00

$0 $0
20 0 4 2005 2 0 06 2 00 7 2004 2005 2006 2007

Accrued expenses Other current liabilities

$ 9 0,0 0 0 $12,000

$ 8 0,0 0 0
$10,000
$ 7 0,0 0 0

$ 6 0,0 0 0 $8,000

$ 5 0,0 0 0
$6,000
$ 4 0,0 0 0

$ 3 0,0 0 0 $4,000

$ 2 0,0 0 0
$2,000
$ 1 0,0 0 0

$0 $0
2004 2 00 5 20 0 6 2 0 07 2004 2005 2006 2007

Total Current Liabilities

$1,000,000

$900,000
$800,000

$700,000

$600,000
$500,000

$400,000

$300,000
$200,000

$100,000

$0
2004 2005 2006 2007

Long-term debt Deferred income

$ 5 00 ,0 00 $90,000
$ 4 50 ,0 00
$80,000
$ 4 00 ,0 00
$70,000
$ 3 50 ,0 00
$60,000
$ 3 00 ,0 00
$50,000
$ 2 50 ,0 00
$40,000
$ 2 00 ,0 00
$30,000
$ 1 50 ,0 00

$ 1 00 ,0 00 $20,000

$ 50 ,0 00 $10,000

$0 $0
2 00 4 2005 2 0 06 2 00 7 2004 2005 2006 2007

Deferred income taxes Other long-term liabilities

$ 3 0,0 0 0 $90,000

$80,000
$ 2 5,0 0 0
$70,000

$ 2 0,0 0 0 $60,000

$50,000
$ 1 5,0 0 0
$40,000

$ 1 0,0 0 0 $30,000

$20,000
$ 5,0 0 0
$10,000

$0 $0
2004 2 00 5 20 0 6 2 0 07 2004 2005 2006 2007

Total Liabilities

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
2004 2005 2006 2007

Capital stock issued Additional paid in capital

$ 1 00 ,0 00 $50,000
$ 90 ,0 00 $45,000
$ 80 ,0 00 $40,000
$ 70 ,0 00 $35,000
$ 60 ,0 00 $30,000

$ 50 ,0 00 $25,000

$ 40 ,0 00 $20,000

$ 30 ,0 00 $15,000

$ 20 ,0 00 $10,000

$ 10 ,0 00 $5,000

$0 $0
2 00 4 20 0 5 2 0 06 2 00 7 2004 2005 2006 2007

Retained earnings Stockholders' Equity

$ 3 ,5 0 0 ,00 0 $3,500,000

$ 3 ,0 0 0 ,00 0 $3,000,000

$ 2 ,5 0 0 ,00 0 $2,500,000

$ 2 ,0 0 0 ,00 0 $2,000,000

$ 1 ,5 0 0 ,00 0 $1,500,000

$ 1 ,0 0 0 ,00 0 $1,000,000

$5 0 0 ,00 0 $500,000

$0 $0
2 00 4 2 0 05 20 0 6 2 00 7 2004 2005 2006 2007

Total Liabilities and Equity

$5,000,000

$4,500,000

$4,000,000
$3,500,000

$3,000,000

$2,500,000
$2,000,000

$1,500,000

$1,000,000

$500,000
$0
2004 2005 2006 2007

Comparative Analysis 4 Years


Balance Sheet

$5,000,000
$4,500,000

$4,000,000
$3,500,000
$3,000,000
$2,500,000

$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004 2005 2006 2007

Total Current Assets Total Fixed Assets Total Assets Total Current Liabilities Total Liabilities Total Liabilities and Equity

© Copyright, 2007, Jaxworks, All Rights Reserved.


Cash Flow Statement

Actual Financials
2003 2004 2005 2006 2007
Cash from operations
Net earnings (loss) $490,700 $227,879 $170,059 $834,109 $1,722,748
Add-depreciation and amortization $33,750 $35,208 $35,208 $35,208 $139,374

Net cash from operations $524,450 $263,087 $205,267 $869,317 $1,862,121

Cash provided (used) by


operating activities
Accounts Receivable ($307,534) $164,383 $65,754 ($233,458) ($310,855)
Inventory ($230,411) $39,452 $15,781 ($56,030) ($231,208)
Other current assets ($50,000) $14,910 ($31,230) $26,320 ($40,000)
Other non-current assets ($8,000) ($87,000) $115,000 ($18,000) $2,000
Accounts payable ($271,233) $0 $0 $0 ($271,233)
Current portion of long-term debt $0 $0 $0 $0 $0
Income taxes $153,300 ($112,637) ($24,780) $284,592 $300,475
Accrued expenses ($6,712) ($20,822) ($8,329) $29,571 ($6,292)
Other current liabilities ($4,000) $0 $0 $0 ($4,000)
Dividends paid $0 $0 $0 ($50,000) ($50,000)

Net cash provided (used) by operations ($724,590) ($1,714) $132,196 ($17,005) ($611,113)

Investment transactions
Increases (decreases)
Land $12,500 $12,500 $12,500 $12,500 $50,000
Buildings and improvements ($50,000) $0 $0 $0 ($50,000)
Equipment $75,000 $0 $0 $0 $75,000
Intangible assets $0 $0 $0 $0 $0

Net cash from investments $37,500 $12,500 $12,500 $12,500 $75,000

Financing transactions
Increases (decreases)
Short term notes payable ($50,000) $0 $0 $0 ($50,000)
Long term debt ($100,000) $0 $0 $0 ($100,000)
Deferred income ($10,000) $0 $0 $0 ($10,000)
Deferred income taxes ($3,000) $0 $0 $0 ($3,000)
Other long-term liabilities $40,000 ($50,000) $0 $0 ($10,000)
Capital stock and paid in capital $0 $0 $0 $0 $0

Net cash from financing ($123,000) ($50,000) $0 $0 ($173,000)

Net increase (decrease) in cash ($360,640) $198,873 $324,963 $839,812 $1,003,008

Cash at beginning of period $451,000 $90,360 $289,233 $614,196 $451,000

Cash at the end of period $90,360 $289,233 $614,196 $1,454,008 $1,454,008

Cash Flow

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0
2003 2004 2005 2006 2007

© Copyright, 2007, Jaxworks, All Rights Reserved.


CASH FLOW STATEMENT 8 YEARS

Projected Forecasted
2004 2005 2006 2007 2008 2009 2010 2011
Cash from operations 1 2 3 4 5 6 7 8
Net earnings (loss) $490,700 $227,879 $170,059 $834,109 $673,789 $771,030 $868,271 $965,511
Add-depreciation and amortization $33,750 $35,208 $35,208 $35,208 $35,937 $36,374 $36,812 $37,249

Net cash from operations $524,450 $263,087 $205,267 $869,317 $709,726 $807,404 $905,082 $1,002,760

Cash provided (used) by


operating activities
Accounts Receivable ($307,534) $164,383 $65,754 ($233,458) ($46,814) ($34,454) ($22,094) ($9,734)
Inventory ($230,411) $39,452 $15,781 ($56,030) $67,066 $117,013 $166,960 $216,908
Other current assets ($50,000) $14,910 ($31,230) $26,320 $35,705 $53,987 $72,269 $90,551
Other non-current assets ($8,000) ($87,000) $115,000 ($18,000) $43,500 $60,700 $77,900 $95,100
Accounts payable ($271,233) $0 $0 $0 $135,617 $216,986 $298,356 $379,726
Current portion of long-term debt $0 $0 $0 $0 $0 $0 $0 $0
Income taxes $153,300 ($112,637) ($24,780) $284,592 $195,552 $243,725 $291,899 $340,072
Accrued expenses ($6,712) ($20,822) ($8,329) $29,571 $28,763 $40,897 $53,031 $65,165
Other current liabilities ($4,000) $0 $0 $0 $2,000 $3,200 $4,400 $5,600
Dividends paid $0 $0 $0 ($50,000) ($50,000) ($65,000) ($80,000) ($95,000)

Net cash Consumed or Generated ($724,590) ($1,714) $132,196 ($17,005) $411,388 $637,055 $862,721 $1,088,388

Investment transactions
Increases (decreases)
Land $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500
Buildings and improvements ($50,000) $0 $0 $0 $25,000 $40,000 $55,000 $70,000
Equipment $75,000 $0 $0 $0 ($37,500) ($60,000) ($82,500) ($105,000)
Intangible assets $0 $0 $0 $0 $0 $0 $0 $0

Net cash from investments $37,500 $12,500 $12,500 $12,500 $0 ($7,500) ($15,000) ($22,500)

Financing transactions
Increases (decreases)
Short term notes payable ($50,000) $0 $0 $0 $25,000 $40,000 $55,000 $70,000
Long term debt ($100,000) $0 $0 $0 $50,000 $80,000 $110,000 $140,000
Deferred income ($10,000) $0 $0 $0 $5,000 $8,000 $11,000 $14,000
Deferred income taxes ($3,000) $0 $0 $0 $1,500 $2,400 $3,300 $4,200
Other long-term liabilities $40,000 ($50,000) $0 $0 ($20,000) ($27,000) ($34,000) ($41,000)
Capital stock and paid in capital $0 $0 $0 $0 $0 $0 $0 $0

Net cash from financing ($123,000) ($50,000) $0 $0 $61,500 $103,400 $145,300 $187,200

Net increase (decrease) in cash ($360,640) $198,873 $324,963 $839,812 $1,182,614 $1,555,358 $1,928,103 $2,300,847

Cash at beginning of period $451,000 $90,360 $289,233 $614,196 $533,313 $602,159 $671,005 $739,851

Cash at the end of period $90,360 $289,233 $614,196 $1,454,008 $1,715,926 $2,157,517 $2,599,107 $3,040,698

Cash Flow 8 Years

$3,500,000

$3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0
2004 2005 2006 2007 2008 2009 2010 2011

© Copyright, 2007, Jaxworks, All Rights Reserved.


Balance Sheet

Projected
2004 2005 2006 2007
ASSETS
Current Assets
Cash and cash equivalents $90,360 $289,233 $614,196 $1,454,008
Accounts receivable $657,534 $493,151 $427,397 $660,855
Inventory $630,411 $590,959 $575,178 $631,208
Other current assets $60,000 $45,090 $76,320 $50,000
Total Current Assets $1,438,305 $1,418,433 $1,693,091 $2,796,071

Fixed Assets
Land $112,500 $125,000 $137,500 $150,000
Buildings $1,450,000 $1,450,000 $1,450,000 $1,450,000
Equipment $875,000 $875,000 $875,000 $875,000
Subtotal $2,437,500 $2,450,000 $2,462,500 $2,475,000
Less-accumulated depreciation $432,500 $466,458 $500,416 $534,374
Total Fixed Assets $2,005,000 $1,983,542 $1,962,084 $1,940,626

Intangible Assets
Cost $50,000 $50,000 $50,000 $50,000
Less-accumulated amortization $21,250 $22,500 $23,750 $25,000
Total Intangible Assets $28,750 $27,500 $26,250 $25,000

Other assets $33,000 $120,000 $5,000 $23,000


Total Assets $3,505,055 $3,549,475 $3,686,425 $4,784,697

Projected
LIABILITIES AND 2004 2005 2006 2007
STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $328,767 $328,767 $328,767 $328,767
Notes payable $50,000 $50,000 $50,000 $50,000
Current portion of long-term debt $100,000 $100,000 $100,000 $100,000
Income taxes $183,300 $70,663 $45,883 $330,475
Accrued expenses $83,288 $62,466 $54,137 $83,708
Other current liabilities $12,000 $12,000 $12,000 $12,000
Total Current Liabilities $757,355 $623,896 $590,787 $904,950

Non-Current Liabilities
Long-term debt $500,000 $500,000 $500,000 $500,000
Deferred income $90,000 $90,000 $90,000 $90,000
Deferred income taxes $27,000 $27,000 $27,000 $27,000
Other long-term liabilities $90,000 $40,000 $40,000 $40,000
Subtotal $707,000 $657,000 $657,000 $657,000
Total Liabilities $1,464,355 $1,280,896 $1,247,787 $1,561,950

Stockholders' Equity
Capital stock issued $100,000 $100,000 $100,000 $100,000
Additional paid in capital $50,000 $50,000 $50,000 $50,000
Retained earnings $1,890,700 $2,118,579 $2,288,638 $3,072,747
Stockholders Equity $2,040,700 $2,268,579 $2,438,638 $3,222,747

Total Liabilities and Equity $3,505,055 $3,549,475 $3,686,425 $4,784,697

© Copyright, 2007, Jaxworks, All Rights Reserved.


Balance Sheet

Assets

$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004 2005 2006 2007

Liabilities

$3,500,000

$3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0
2004 2005 2006 2007

Assets vs. Liabilities

$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004 2005 2006 2007

© Copyright, 2007, Jaxworks, All Rights Reserved.


Balance Sheet 8 Years

Projected Forecasted
2004 2005 2006 2007 2008 2009 2010 2011
ASSETS 1 2 3 4 5 6 7 8
Current Assets
Cash and cash equivalents $90,360 $289,233 $614,196 $1,454,008 $1,715,926 $2,157,517 $2,599,107 $3,040,698
Accounts receivable $657,534 $493,151 $427,397 $660,855 $545,787 $540,207 $534,628 $529,049
Inventory $630,411 $590,959 $575,178 $631,208 $603,592 $602,253 $600,914 $599,575
Other current assets $60,000 $45,090 $76,320 $50,000 $58,160 $58,283 $58,406 $58,529
Total Current Assets $1,438,305 $1,418,433 $1,693,091 $2,796,071 $2,923,464 $3,358,260 $3,793,055 $4,227,851

Fixed Assets
Land $112,500 $125,000 $137,500 $150,000 $162,500 $175,000 $187,500 $200,000
Buildings $1,450,000 $1,450,000 $1,450,000 $1,450,000 $1,450,000 $1,450,000 $1,450,000 $1,450,000
Equipment $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000 $875,000
Subtotal $2,437,500 $2,450,000 $2,462,500 $2,475,000 $2,487,500 $2,500,000 $2,512,500 $2,525,000
Less-accumulated depreciation $432,500 $466,458 $500,416 $534,374 $568,332 $602,290 $636,248 $670,206
Total Fixed Assets $2,005,000 $1,983,542 $1,962,084 $1,940,626 $1,919,168 $1,897,710 $1,876,252 $1,854,794

Intangible Assets
Cost $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Less-accumulated amortization $21,250 $22,500 $23,750 $25,000 $26,250 $27,500 $28,750 $30,000
Total Intangible Assets $28,750 $27,500 $26,250 $25,000 $23,750 $22,500 $21,250 $20,000

Other assets $33,000 $120,000 $5,000 $23,000 $9,000 ($5,500) ($20,000) ($34,500)
Total Assets $3,505,055 $3,549,475 $3,686,425 $4,784,697 $4,875,382 $5,272,970 $5,670,557 $6,068,145

Projected Forecasted
LIABILITIES AND 2004 2005 2006 2007 Period 5 Period 6 Period 7 Period 8
STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $328,767 $328,767 $328,767 $328,767 $328,767 $328,767 $328,767 $328,767
Notes payable $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Current portion of long-term debt $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000
Income taxes $183,300 $70,663 $45,883 $330,475 $261,767 $303,441 $345,116 $386,790
Accrued expenses $83,288 $62,466 $54,137 $83,708 $69,133 $68,426 $67,719 $67,012
Other current liabilities $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Total Current Liabilities $757,355 $623,896 $590,787 $904,950 $821,666 $862,634 $903,601 $944,569

Non-Current Liabilities
Long-term debt $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000
Deferred income $90,000 $90,000 $90,000 $90,000 $90,000 $90,000 $90,000 $90,000
Deferred income taxes $27,000 $27,000 $27,000 $27,000 $27,000 $27,000 $27,000 $27,000
Other long-term liabilities $90,000 $40,000 $40,000 $40,000 $15,000 $0 ($15,000) ($30,000)
Subtotal $707,000 $657,000 $657,000 $657,000 $632,000 $617,000 $602,000 $587,000
Total Liabilities $1,464,355 $1,280,896 $1,247,787 $1,561,950 $1,453,666 $1,479,634 $1,505,601 $1,531,569

Stockholders' Equity
Capital stock issued $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000
Additional paid in capital $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Retained earnings $1,890,700 $2,118,579 $2,288,638 $3,072,747 $3,271,716 $3,643,336 $4,014,956 $4,386,576
Stockholders Equity $2,040,700 $2,268,579 $2,438,638 $3,222,747 $3,421,716 $3,793,336 $4,164,956 $4,536,576

Total Liabilities and Equity $3,505,055 $3,549,475 $3,686,425 $4,784,697 $4,875,382 $5,272,970 $5,670,557 $6,068,145

© Copyright, 2007, Jaxworks, All Rights Reserved.


Balance Sheet 8 Years
Assets

$7,000,000

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0
2004 2005 2006 2007 2008 2009 2010 2011

Liabilities

$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004 2005 2006 2007 2008 2009 2010 2011

Assets vs. Liabilities

$7,000,000

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0
2004 2005 2006 2007 2008 2009 2010 2011

© Copyright, 2007, Jaxworks, All Rights Reserved.


Financial Operations
Projected What-if Trial Projections
2004 2005 2006 2007 2004 2005 2006 2007 1 2 3 4
Current Assets 1,438,305 1,418,433 1,693,091 2,796,071 1,438,305 1,418,433 1,693,091 2,796,071
Fixed Assets 2,005,000 1,983,542 1,962,084 1,940,626 2,005,000 1,983,542 1,962,084 1,940,626
Total Assets 3,505,055 3,549,475 3,686,425 4,784,697 3,505,055 3,549,475 3,686,425 4,784,697
Current Liabilities 757,355 623,896 590,787 904,950 757,355 623,896 590,787 904,950
Non-current Liab. 707,000 657,000 657,000 657,000 707,000 657,000 657,000 657,000
Total Liabilities 1,464,355 1,280,896 1,247,787 1,561,950 1,464,355 1,280,896 1,247,787 1,561,950
Equity 2,040,700 2,268,579 2,438,638 3,222,747 2,040,700 2,268,579 2,438,638 3,222,747
Reset
Liabilities and Equity 3,505,055 3,549,475 3,686,425 4,784,697 3,505,055 3,549,475 3,686,425 4,784,697

Projected

5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
2004 2005 2006 2007
Current Assets Fixed Assets Total Assets Current Liabilities
Non-current Liab. Total Liabilities Equity Liabilities and Equity

What-if Trial Projections

5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
2004 2005 2006 2007
Current Assets Fixed Assets Total Assets Current Liabilities
Non-current Liab. Total Liabilities Equity Liabilities and Equity

© Copyright, 2007, Jaxworks, All Rights Reserved.


Balance Sheet Charts

Total Current Assets $1,438,305 $1,418,433 $1,693,091 $2,796,071 $5,000,000


$4,000,000
Total Fixed Assets $2,005,000 $1,983,542 $1,962,084 $1,940,626
$3,000,000
Total Assets $3,505,055 $3,549,475 $3,686,425 $4,784,697
$2,000,000
Total Current Liabilities $757,355 $623,896 $590,787 $904,950 $1,000,000
Total Liabilities $1,464,355 $1,280,896 $1,247,787 $1,561,950 $0
Total Liabilities and Equity $3,505,055 $3,549,475 $3,686,425 $4,784,697 2004 2005 2006 2007
Total Current Assets Total Fixed Assets Total Assets
Total Current Liabilities Total Liabilities Total Liabilities and Equity

Total Assets Total CA Total Assets Total CA


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Total Assets Fixed Assets Total Assets Fixed Assets


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Total Assets Total Assets Projected Total Assets Total Assets Projected
2007 2011

2006 2010

2005 2009

2004 2008
2004 2005 2006 2008
2007 2009 2010 2011

Total Liabilities & Equity Current Liabilities Total Liabilities & Equity Current Liabilities
2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Total Liabilities & Equity Total Liabilities Total Liabilities & Equity Total Liabilities
2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Total Liabilities & Equity Total Liabilities & Equity Projected Total Liabilities & Equity Total Liabilities & Equity Projected
2007 2011

2006 2010

2005 2009

2004 2008
2004 2005 2006 2008
2007 2009 2010 2011

© Copyright, 2007, Jaxworks, All Rights Reserved.


Current Assets
Current Assets Projection
1ST QTR $1,438,305 $4,500,000

2ND QTR $1,418,433 $4,000,000


$3,500,000
3RD QTR $1,693,091
$3,000,000
4TH QTR $2,796,071 $2,500,000

5TH QTR $2,923,464 $2,000,000


$1,500,000
6TH QTR $3,358,260
$1,000,000
7TH QTR $3,793,055 $500,000

$4,227,851 $0
8TH QTR
2004 2005 2006 2007 2008 2009 2010 2011

Inventory
Inventory Projection
1ST QTR $630,411 $640,000

$590,959 $630,000
2ND QTR
$620,000
3RD QTR $575,178 $610,000

$631,208 $600,000
4TH QTR
$590,000
5TH QTR $603,592 $580,000

6TH QTR $602,253 $570,000


$560,000
7TH QTR $600,914 $550,000

8TH QTR $599,575 $540,000


2004 2005 2006 2007 2008 2009 2010 2011

Total Assets
Total Assets Projection
1ST QTR $3,505,055 $7,000,000

2ND QTR $3,549,475 $6,000,000

3RD QTR $3,686,425 $5,000,000

4TH QTR $4,784,697 $4,000,000

5TH QTR $4,875,382 $3,000,000

6TH QTR $5,272,970 $2,000,000

7TH QTR $5,670,557 $1,000,000

8TH QTR $6,068,145 $0


2004 2005 2006 2007 2008 2009 2010 2011

Current Liabilities
Current Liabilities Projection
1ST QTR $757,355 $1,000,000

2ND QTR $623,896 $900,000


$800,000
3RD QTR $590,787 $700,000

4TH QTR $904,950 $600,000


$500,000
5TH QTR $821,666 $400,000

6TH QTR $862,634 $300,000


$200,000
7TH QTR $903,601 $100,000

8TH QTR $944,569 $0


2004 2005 2006 2007 2008 2009 2010 2011

Non-current Liabilities
Non-current Liabilities Projection
1ST QTR $707,000 $800,000

2ND QTR $657,000 $700,000

3RD QTR $657,000 $600,000

$500,000
4TH QTR $657,000
$400,000
5TH QTR $632,000
$300,000
6TH QTR $617,000 $200,000

7TH QTR $602,000 $100,000

8TH QTR $587,000 $0


2004 2005 2006 2007 2008 2009 2010 2011

Total Liabilities
Total Liabilities Projection
1ST QTR $1,464,355 $1,600,000

2ND QTR $1,280,896 $1,400,000

3RD QTR $1,247,787 $1,200,000

$1,000,000
4TH QTR $1,561,950
$800,000
5TH QTR $1,453,666
$600,000
6TH QTR $1,479,634 $400,000

7TH QTR $1,505,601 $200,000

8TH QTR $1,531,569 $0


2004 2005 2006 2007 2008 2009 2010 2011

Equity
Equity Projection
1ST QTR $2,040,700 $5,000,000

2ND QTR $2,268,579 $4,500,000


$4,000,000
3RD QTR $2,438,638 $3,500,000

4TH QTR $3,222,747 $3,000,000


$2,500,000
5TH QTR $3,421,716 $2,000,000

6TH QTR $3,793,336 $1,500,000


$1,000,000
7TH QTR $4,164,956 $500,000

8TH QTR $4,536,576 $0


2004 2005 2006 2007 2008 2009 2010 2011

© Copyright, 2007, Jaxworks, All Rights Reserved.


Balance Sheet Summary 4 Years

5,000,000

4,500,000

4,000,000

3,500,000

3,000,000

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0
2004 2005 2006 2007

Current Assets Fixed Assets Total Assets Current Liabilities


Non-current Liab. Total Liabilities Equity Liabilities and Equity
What-if Balance Sheet

5,000,000

4,500,000

4,000,000

3,500,000

3,000,000

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0
2004 2005 2006 2007

Current Assets Fixed Assets Total Assets Current Liabilities


Non-current Liab. Total Liabilities Equity Liabilities and Equity
Projected
2004 2005 2006 2007
Revenue 1 2 3 4
Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100
Cost of sales $945,000 $865,000 $833,000 $946,616

Gross profit $1,055,000 $635,000 $467,000 $1,063,484

Expenses
Operating expenses $424,000 $318,000 $275,600 $426,141
Interest $16,250 $16,250 $16,250 $16,250
Depreciation $32,500 $33,958 $33,958 $33,958
Amortization $1,250 $1,250 $1,250 $1,250
Subtotal (IDA) $50,000 $51,458 $51,458 $51,458
Total expenses $474,000 $369,458 $327,058 $477,599

Operating income $581,000 $265,542 $139,942 $585,885

Other income and expenses


Gain (loss) on sale of assets $100,000 $10,000 $3,000 $405,700
Other (net) $20,000 $50,000 $100,000 $200,000
Subtotal $120,000 $60,000 $103,000 $605,700

Income before tax $701,000 $325,542 $242,942 $1,191,585

Income tax $210,300 $97,663 $72,883 $357,475

Net income $490,700 $227,879 $170,059 $834,109

Retained earnings-beginning $1,400,000 $1,890,700 $2,118,579 $2,288,638

Dividends paid $0 $0 $0 $50,000

Retained earnings-ending $1,890,700 $2,118,579 $2,288,638 $3,072,747

© Copyright, 2007, Jaxworks, All Rights Reserved.


Income Statement 8 Periods

Projected Forecasted
2004 2005 2006 2007 2008 2009 2010 2011
Revenue 1 2 3 4 5 6 7 8
Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100 $1,660,100 $1,643,130 $1,626,160 $1,609,190
Cost of sales $945,000 $865,000 $833,000 $946,616 $890,616 $887,901 $885,186 $882,470

Gross profit $1,055,000 $635,000 $467,000 $1,063,484 $769,484 $755,229 $740,974 $726,720

Expenses
Operating expenses $424,000 $318,000 $275,600 $426,141 $351,941 $348,344 $344,746 $341,148
Interest $16,250 $16,250 $16,250 $16,250 $16,250 $16,250 $16,250 $16,250
Depreciation $32,500 $33,958 $33,958 $33,958 $34,687 $35,124 $35,562 $35,999
Amortization $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250
Subtotal (IDA) $50,000 $51,458 $51,458 $51,458 $52,187 $52,624 $53,062 $53,499
Total expenses $474,000 $369,458 $327,058 $477,599 $404,128 $400,968 $397,808 $394,647

Operating income $581,000 $265,542 $139,942 $585,885 $365,356 $354,261 $343,167 $332,072

Other income and expenses


Gain (loss) on sale of assets $100,000 $10,000 $3,000 $405,700 $357,200 $448,210 $539,220 $630,230
Other (net) $20,000 $50,000 $100,000 $200,000 $240,000 $299,000 $358,000 $417,000
Subtotal $120,000 $60,000 $103,000 $605,700 $597,200 $747,210 $897,220 $1,047,230

Income before tax $701,000 $325,542 $242,942 $1,191,585 $962,556 $1,101,471 $1,240,387 $1,379,302

Income tax $210,300 $97,663 $72,883 $357,475 $288,767 $330,441 $372,116 $413,791

Net income $490,700 $227,879 $170,059 $834,109 $673,789 $771,030 $868,271 $965,511

Retained earnings-beginning $1,400,000 $1,890,700 $2,118,579 $2,288,638 $2,647,928 $2,937,307 $3,226,686 $3,516,065

Dividends paid $0 $0 $0 $50,000 $50,000 $65,000 $80,000 $95,000

Retained earnings-ending $1,890,700 $2,118,579 $2,288,638 $3,072,747 $3,271,716 $3,643,336 $4,014,956 $4,386,576

Comparative Analysis 8 Years


Income Statement

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0
2004 2005 2006 2007 2008 2009 2010 2011

Sales Cost of sales Gross profit Total expenses Income before tax Net income

© Copyright, 2007, Jaxworks, All Rights Reserved.


Forecast Analysis 8 Years
2004 2005 2006 2007 2008 2009 2010 2011 Trend
1 2 3 4 5 6 7 8 ASSESSMENT
Income Statement Forecast
Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100 $1,660,100 $1,643,130 $1,626,160 $1,609,190 Caution
Cost of Goods Sold $945,000 $865,000 $833,000 $946,616 $890,616 $887,901 $885,186 $882,470 Caution
Gross Profit (Margin) $1,055,000 $635,000 $467,000 $1,063,484 $769,484 $755,229 $740,974 $726,720 Caution
G&A $50,000 $51,458 $51,458 $51,458 $52,187 $52,624 $53,062 $53,499 Caution
Total Operating Expenses $474,000 $369,458 $327,058 $477,599 $1,648,115 $1,396,158 $1,641,795 $1,887,432 Caution
EBIT $701,000 $325,542 $242,942 $1,191,585 $962,556 $1,101,471 $1,240,387 $1,379,302 Good
Net Income After $490,700 $227,879 $170,059 $834,109 $673,789 $771,030 $868,271 $965,511 Good
Balance Sheet Forecast
Current Assets $1,438,305 $1,418,433 $1,693,091 $2,796,071 $2,923,464 $3,358,260 $3,793,055 $4,227,851 Good
Inventory $630,411 $590,959 $575,178 $631,208 $603,592 $602,253 $600,914 $599,575 Good
Other Assets $33,000 $120,000 $5,000 $23,000 $9,000 ($5,500) ($20,000) ($34,500) Caution
Total Assets $3,505,055 $3,549,475 $3,686,425 $4,784,697 $4,875,382 $5,272,970 $5,670,557 $6,068,145 Good
Current Liabilities $757,355 $623,896 $590,787 $904,950 $821,666 $862,634 $903,601 $944,569 Good
Non-current Liabilities $707,000 $657,000 $657,000 $657,000 $632,000 $617,000 $602,000 $587,000 Good
Total Liabilities $1,464,355 $1,280,896 $1,247,787 $1,561,950 $1,453,666 $1,479,634 $1,505,601 $1,531,569 Good
Equity $2,040,700 $2,268,579 $2,438,638 $3,222,747 $3,421,716 $3,793,336 $4,164,956 $4,536,576 Good
Total Liabilities & Equity $3,505,055 $3,549,475 $3,686,425 $4,784,697 $4,875,382 $5,272,970 $5,670,557 $6,068,145 Good
Cash Flow Forecast
Net Cash Flow $90,360 $289,233 $614,196 $1,454,008 $1,715,926 $2,157,517 $2,599,107 $3,040,698 Good
Breakeven Forecast
Break-Even $898,578 $872,735 $910,440 $902,714 $908,645 $913,656 $918,668 $923,679 Good
B/E % 44.93% 58.18% 70.03% 44.91% 57.46% 58.64% 59.82% 61.00% Good
DAY OF B/E 164 212 256 164 210 214 218 223 Good
DATE OF B/E Jun 11 Jul 30 Sep 11 Jun 11 Jul 27 Aug 01 Aug 05 Aug 09 Good
Key Ratios Forecast
Current Ratio 1.90 2.27 2.87 3.09 3.57 3.99 4.41 4.82 Good
Quick Ratio 1.07 1.33 1.89 2.39 2.82 3.19 3.53 3.84 Good
Debt Ratio 0.42 0.36 0.34 0.33 0.30 0.28 0.27 0.25 Good
Asset Turnover 0.57 0.42 0.35 0.42 0.34 0.31 0.29 0.27 Good
Net Income/Sales 0.25 0.15 0.13 0.41 0.41 0.47 0.53 0.60 Good
Debt/Equity 0.72 0.56 0.51 0.48 0.42 0.39 0.36 0.34 Good
Return on Assets 0.18 0.08 0.05 0.21 0.17 0.17 0.18 0.19 Good
Sales/Working Capital 2.94 1.89 1.18 1.06 0.79 0.66 0.56 0.49 Good
Working Capital $680,950 $794,537 $1,102,304 $1,891,121 $2,101,798 $2,495,626 $2,889,454 $3,283,282 Good
Market Value Forecast
Book Market Value $2,040,700 $2,268,579 $2,438,638 $3,222,747 $3,421,716 $3,793,336 $4,164,956 $4,536,576 Good
Altman Z-Score Analysis Forecast
Publicly Held Firm 3.85 3.64 3.66 4.72 4.62 4.89 5.15 5.41 Good
Privately Held Firm 2.64 2.19 2.07 2.97 2.69 2.77 2.86 2.95 Good
Non-Manufacturing 5.84 5.89 6.48 8.53 8.85 9.71 10.58 11.44 Good

© Copyright, 2007, Jaxworks, All Rights Reserved.


Revenue Operations
Projected What-if Trial Projections
2004 2005 2006 2007 2004 2005 2006 2007 1 2 3 4
Sales 2,000,000 1,500,000 1,300,000 2,010,100 2,000,000 1,500,000 1,300,000 2,010,100
Cost of Goods Sold 945,000 865,000 833,000 946,616 945,000 865,000 833,000 946,616
Gross profit 1,055,000 635,000 467,000 1,063,484 1,055,000 635,000 467,000 1,063,484
Total expenses 474,000 369,458 327,058 477,599 474,000 369,458 327,058 477,599
Operating income 581,000 265,542 139,942 585,885 581,000 265,542 139,942 585,885
Other Income 120,000 60,000 103,000 605,700 120,000 60,000 103,000 605,700
Taxes 210,300 97,663 72,883 357,475 210,300 97,663 72,883 357,475
Net Income 490,700 227,879 170,059 834,109 490,700 227,879 170,059 834,109
Reset

Projected

2,500,000

2,000,000

1,500,000

1,000,000

500,000

2004 2005 2006 2007

Sales Cost of Goods Sold Gross profit Total expenses


Operating income Other Income Taxes Net Income

What-if Trial Projections

2,500,000

2,000,000

1,500,000

1,000,000

500,000

2004 2005 2006 2007

Sales Cost of Goods Sold Gross profit Total expenses


Operating income Other Income Taxes Net Income

© Copyright, 2007, Jaxworks, All Rights Reserved.


Income Statement Charts

Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100 $2,500,000


$2,000,000
Cost of Goods Sold $945,000 $865,000 $833,000 $946,616
$1,500,000
Gross Profit (Margin) $1,055,000 $635,000 $467,000 $1,063,484
$1,000,000
Total Operating Expenses $474,000 $369,458 $327,058 $477,599 $500,000
Earnings Before Inc.Taxes $701,000 $325,542 $242,942 $1,191,585 $0
Net Income After Taxes $490,700 $227,879 $170,059 $834,109 2004 2005 2006 2007
Sales Cost of Goods Sold Gross Profit (Margin)
Total Operating Expenses Earnings Before Inc.Taxes Net Income After Taxes

Sales COG Sales COG


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Sales Gross Profit Sales Gross Profit


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Sales Expenses Sales Expenses


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Sales EBIT Sales EBIT


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

Sales Net Income Sales Net Income


2007 2007

2006 2006

2005 2005

2004 2004
2004 2005 2006 2004
2007 2005 2006 2007

© Copyright, 2009, Jaxworks, All Rights Reserved.

© Copyright, 2007, Jaxworks, All Rights Reserved.


Revenue
Sales Projection
1ST QTR $2,000,000 $2,500,000

2ND QTR $1,500,000


$2,000,000
3RD QTR $1,300,000
$1,500,000
4TH QTR $2,010,100

5TH QTR $1,660,100 $1,000,000

6TH QTR $1,643,130


$500,000
7TH QTR $1,626,160

$1,609,190 $0
8TH QTR
2004 2005 2006 2007 2008 2009 2010 2011

Cost of Goods
Cost of Goods Projection
1ST QTR $945,000 $960,000

$865,000 $940,000
2ND QTR
$920,000
3RD QTR $833,000 $900,000

$946,616 $880,000
4TH QTR
$860,000
5TH QTR $890,616 $840,000

6TH QTR $887,901 $820,000


$800,000
7TH QTR $885,186 $780,000

8TH QTR $882,470 $760,000


2004 2005 2006 2007 2008 2009 2010 2011

Gross Profit
Gross Profit Projection
1ST QTR $1,055,000 $1,200,000

2ND QTR $635,000 $1,000,000


3RD QTR $467,000
$800,000
4TH QTR $1,063,484
$600,000
5TH QTR $769,484
$400,000
6TH QTR $755,229
$200,000
7TH QTR $740,974

8TH QTR $726,720 $0


2004 2005 2006 2007 2008 2009 2010 2011

General & Administrative Expenses


G&A Expenses Projection
1ST QTR $50,000 $54,000

2ND QTR $51,458


$53,000
3RD QTR $51,458
$52,000
4TH QTR $51,458
$51,000
5TH QTR $52,187
$50,000
6TH QTR $52,624
$49,000
7TH QTR $53,062

8TH QTR $53,499 $48,000


2004 2005 2006 2007 2008 2009 2010 2011

Total Operating Expenses


Total Operating Expenses Projection
1ST QTR $474,000 $2,000,000

2ND QTR $369,458 $1,800,000


$1,600,000
3RD QTR $327,058 $1,400,000

4TH QTR $477,599 $1,200,000


$1,000,000
5TH QTR $1,648,115 $800,000

6TH QTR $1,396,158 $600,000


$400,000
7TH QTR $1,641,795 $200,000

8TH QTR $1,887,432 $0


2004 2005 2006 2007 2008 2009 2010 2011

Earnings Before Taxes


Earnings Before Taxes Projection
1ST QTR $701,000 $1,400,000

2ND QTR $325,542 $1,200,000

3RD QTR $242,942 $1,000,000

4TH QTR $1,191,585 $800,000

5TH QTR $962,556 $600,000

6TH QTR $1,101,471 $400,000

7TH QTR $1,240,387 $200,000

8TH QTR $1,379,302 $0


2004 2005 2006 2007 2008 2009 2010 2011

Net Income
Net Income Projection
1ST QTR $490,700 $1,000,000

2ND QTR $227,879 $900,000


$800,000
3RD QTR $170,059 $700,000

4TH QTR $834,109 $600,000


$500,000
5TH QTR $673,789 $400,000

6TH QTR $771,030 $300,000


$200,000
7TH QTR $868,271 $100,000

8TH QTR $965,511 $0


2004 2005 2006 2007 2008 2009 2010 2011

© Copyright, 2007, Jaxworks, All Rights Reserved.


Projected Income Statement Chart

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0
2004 2005 2006 2007

Sales Cost of Goods Sold Gross profit Total expenses


Operating income Other Income Taxes Net Income

© Copyright, 2006, Jaxworks, All Rights Reserved.


What-if Trial Projections Income Statement Chart

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0
2004 2005 2006 2007

Sales Cost of Goods Sold Gross profit Total expenses


Operating income Other Income Taxes Net Income

© Copyright, 2006, Jaxworks, All Rights Reserved.


FINANCIAL RATIOS
Description 2004 2005 2006 2007
Altman Z Score - Publicly Held 3.85 3.64 3.66 4.72
Altman Z Score - Privately Held 2.64 2.19 2.07 2.97
Altman Z Score - Non-manufacturing 5.84 5.89 6.48 8.53
Liquidity Ratios
Current Ratio 1.90 2.27 2.87 3.09
Quick Ratio 1.07 1.33 1.89 2.39
Activity Ratios
Days Sales in AR 39.45 39.45 39.45 39.45
Inventory Turnover 1.50 1.46 1.45 1.50
Days Inventory 80.05 81.98 82.86 80.02
Net Sales to Inventory 3.17 2.54 2.26 3.18
Days Purchases in AP 41.75 45.61 47.36 41.68
Working Capital $680,950 $794,537 $1,102,304 $1,891,121
Net Sales to Working Capital 2.94 1.89 1.18 1.06
Total Assets to Net Sales 1.75 2.37 2.84 2.38
Net Sales to AR 3.04 3.04 3.04 3.04
Net Sales to Net Fixed Assets 1.00 0.76 0.66 1.04
Net Sales to Total Assets 0.57 0.42 0.35 0.42
Net Sales to Net Worth 0.98 0.66 0.53 0.62
Amortization and Depreciation Expense to Net Sales 0.025 0.034 0.040 0.026
Profitability Ratios
Gross Profit Percentage 52.75% 42.33% 35.92% 52.91%
Operating Expenses as % of Net Sales 23.70% 24.63% 25.16% 23.76%
Return on Total Assets 14.00% 6.42% 4.61% 17.43%
Return on Net Worth 24.05% 10.05% 6.97% 25.88%
Return on Net Sales 24.54% 15.19% 13.08% 41.50%
Income before tax to Net Worth 34% 14% 10% 37%
Income before tax to Total Assets 20% 9% 7% 25%
Retained Earning to Net Income 385% 930% 1346% 368%
Coverage Ratios
Times Interest Earned 43.14 20.03 14.95 73.33
Interest Expense to Net Sales 0.01 0.01 0.01 0.01
Current Liabilities to Net Worth 0.37 0.28 0.24 0.28
Current Liabilities to Inventory 1.20 1.06 1.03 1.43
AP to Net Sales 0.16 0.22 0.25 0.16
Total Liabilities to Net Worth 0.72 0.56 0.51 0.48
Net Worth to Total Liabilities 1.39 1.77 1.95 2.06

© Copyright, 2007, Jaxworks, All Rights Reserved.


Key Financial Indicators - 4 Financial Periods
Bankruptcy Predictors
Altman Z Score - Publicly Held Altman Z Score - Privately Held Altman Z Score - Non-manufacturing Cash Flow
5.00 3.00 9.00 $1,600,000
4.50 8.00
2.50
$1,400,000
4.00 7.00
$1,200,000
3.50
2.00 6.00
3.00 $1,000,000
5.00
2.50 1.50 $800,000
4.00
2.00
$600,000
1.00 3.00
1.50
2.00
$400,000
1.00
0.50
0.50 1.00 $200,000
- - - $0
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Revenue
Sales Cost of Sales Gross Profit Gross Profit Percentage
$2,500,000 $960,000 $1,200,000 60.00%

$940,000
$1,000,000 50.00%
$2,000,000 $920,000
$900,000
$800,000 40.00%
$1,500,000 $880,000

$860,000 $600,000 30.00%


$1,000,000 $840,000
$400,000 20.00%
$820,000
$500,000 $800,000
$200,000 10.00%
$780,000
$0 $760,000 $0 0.00%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Expenses
Operating Expenses Interest, Depreciation, Amortization Total Expenses Operating Income
$450,000 $52,000 $600,000 $700,000
$400,000 $600,000
$51,500 $500,000
$350,000
$500,000
$300,000 $51,000 $400,000
$250,000 $400,000
$50,500 $300,000
$200,000 $300,000
$150,000 $50,000 $200,000
$200,000
$100,000
$49,500 $100,000 $100,000
$50,000
$0 $49,000 $0 $0
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Profit
Net Income Before Taxes Taxes Net Income Retained Earnings
$1,400,000 $400,000 $900,000 $2,500,000

$1,200,000 $350,000 $800,000


$700,000 $2,000,000
$300,000
$1,000,000
$600,000
$250,000 $1,500,000
$800,000 $500,000
$200,000
$600,000 $400,000
$150,000 $1,000,000
$300,000
$400,000
$100,000 $200,000 $500,000
$200,000 $50,000 $100,000
$0 $0 $0 $0
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Assets and Liabilities


Current Assets Total Assets Current Liabilities Total Liabilities
$3,000,000 $6,000,000 $1,000,000 $1,800,000
$900,000 $1,600,000
$2,500,000 $5,000,000 $800,000 $1,400,000
$2,000,000 $4,000,000 $700,000 $1,200,000
$600,000
$1,000,000
$1,500,000 $3,000,000 $500,000
$800,000
$400,000
$1,000,000 $2,000,000 $300,000 $600,000
$200,000 $400,000
$500,000 $1,000,000
$100,000 $200,000
$0 $0 $0 $0
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Ratios
Current Ratio Quick Ratio Working Capital Net Worth
3.50 3.00 $2,000,000 $3,500,000
$1,800,000
3.00 2.50 $3,000,000
$1,600,000
2.50 $1,400,000 $2,500,000
2.00
2.00 $1,200,000 $2,000,000
1.50 $1,000,000
1.50 $800,000 $1,500,000
1.00 $600,000
1.00 $1,000,000
0.50 $400,000
0.50 $500,000
$200,000
- - $0 $0
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

© Copyright, 2007, Jaxworks, All Rights Reserved.


Key Financial Ratios Indicators - 4 Financial Periods
Activity Ratios
Days Sales in Accounts Receivables Inventory Turnover Days Inventory Net Sales to Inventory
39.45 1.51 83.50 3.50
39.45 1.50 83.00
3.00
39.45 1.49 82.50
82.00 2.50
39.45 1.48
81.50 2.00
39.45 1.47
81.00
39.45 1.46 1.50
80.50
39.45 1.45 80.00 1.00
39.45 1.44 79.50
39.45 1.43 0.50
79.00
39.45 1.42 78.50 -
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Days Purchases in AP Net Sales to Working Capital Total Assets to Net Sales Net Sales to AR
48.00 3.50 3.00 3.04
47.00
3.00 2.50 3.04
46.00
45.00 2.50 3.04
2.00
44.00 2.00 3.04
43.00 1.50
42.00 1.50 3.04
41.00 1.00
1.00 3.04
40.00 0.50
0.50 3.04
39.00
38.00 - - 3.04
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Net Sales to Net Fixed Assets Net Sales to Total Assets Net Sales to Net Worth Amort. and Dep. Expense to Net Sales
1.20 0.60 1.20 0.045
0.040
1.00 0.50 1.00
0.035
0.80 0.40 0.80 0.030
0.025
0.60 0.30 0.60
0.020
0.40 0.20 0.40 0.015
0.010
0.20 0.10 0.20
0.005
- - - -
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Profitability Ratios
Gross Profit Percentage Operating Expenses as % of Net Sales Return on Total Assets Return on Net Worth
60.00% 25.50% 20.00% 30.00%
18.00%
50.00% 25.00% 16.00% 25.00%

40.00% 24.50% 14.00% 20.00%


12.00%
30.00% 24.00% 10.00% 15.00%
8.00%
20.00% 23.50% 6.00% 10.00%

10.00% 23.00% 4.00% 5.00%


2.00%
0.00% 22.50% 0.00% 0.00%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Return on Net Sales Income before tax to Net Worth Income before tax to Total Assets Retained Earning to Net Income
45.00% 40% 30% 1600%
40.00% 35% 1400%
25%
35.00% 30% 1200%
30.00% 20%
25% 1000%
25.00%
20% 15% 800%
20.00%
15% 600%
15.00% 10%
10.00% 10% 400%
5%
5.00% 5% 200%
0.00% 0% 0% 0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

Coverage Ratios
Times Interest Earned Interest Expense to Net Sales Current Liabilities to Net Worth Current Liabilities to Inventory
80.00 0.01 0.40 1.60
70.00 0.01 0.35 1.40
60.00 0.30 1.20
0.01
50.00 0.25 1.00
0.01
40.00 0.20 0.80
0.01
30.00 0.15 0.60
0.00
20.00 0.10 0.40
10.00 0.00 0.05 0.20
- - - -
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

© Copyright, 2007, Jaxworks, All Rights Reserved.


Optimal Performance Analysis - 4 Periods
Average Actual Optimal
Variance
4 Year Performance Performance
$ % $ % $
Total Sales $1,702,525 100.00% $2,010,100 100.00% $307,575
Total Cost of Goods Sold $897,404 52.71% $833,000 41.44% ($64,404)
Gross Profit $805,121 47.29% $1,063,484 52.91% $258,363
Total Operating Expenses $412,029 24.20% $327,058 16.27% ($84,971)
Operating Income $393,092 23.09% $585,885 29.15% $192,793
Net Income (Loss) $430,687 25.30% $834,109 41.50% $403,422

Based on this analysis, the firm has the potential for $403,422 in added profits with increased sales and
proper expense controls in place.

This analysis has the sole purpose to show how, if everything comes together, the results of maximum efficiency can result
in increased Net Profit.

10
8
6
4
2
0

© Copyright, 2007, Jaxworks, All Rights Reserved.


Break-Even Analysis 4 Periods
2004 2005 2006 2007 Average
Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100 $1,702,525
Contribution Margin $1,055,000 $635,000 $467,000 $1,063,484 $805,121
Contribution Margin Ratio 52.75% 42.33% 35.92% 52.91% 47.29%
Total Fixed Expenses $474,000 $369,458 $327,058 $477,599 $412,029
Total Fixed Expenses Ratio 23.70% 24.63% 25.16% 23.76% 24.20%
Break-Even Sales $898,578 $872,735 $910,440 $902,714 $896,117
Break-Even % 44.93% 58.18% 70.03% 44.91% 51.18%
Date of Break-Even 6/11 7/30 9/11 6/11 7/4
Operating Profit $581,000 $265,542 $139,942 $585,885 $393,092

Break-Even Analysis First Period


$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$0
Jul
Jun

Aug
Jan

Feb

Sep

Jan
Oct
Mar

Apr

May

Nov

Dec

© Copyright, 2007, Jaxworks, All Rights Reserved.


Bankruptcy Predictions
Account Predictor
2004 2005 2006 2007 Instructions
Descriptions ID
Accounts Receivable-Beginning 350,000 657,534 493,151 427,397 L
Accounts Receivable-Ending 657,534 493,151 427,397 660,855 L
Cash 90,360 289,233 614,196 1,454,008 L
These figures are linked to
Sales Cash Flow 90,360 289,233 614,196 1,454,008 F
the Master Data Entry
Retained Current Assets 1,438,305 1,418,433 1,693,091 2,796,071 Z, S
Earnings worksheet.
Current Liabilities 757,355 623,896 590,787 904,950 All
EBIT 701,000 325,542 242,942 1,191,585 Z, S, F
Equity 2,040,700 2,268,579 2,438,638 3,222,747 F
The Predictor ID Codes
Fixed Assets 2,005,000 1,983,542 1,962,084 1,940,626 L indicate the individual
Interest 16,250 16,250 16,250 16,250 F analyses that use the
Inventory-Beginning 400,000 630,411 590,959 575,178 L numbers:
Inventory-Ending 630,411 590,959 575,178 631,208 L
EBIT Sales Long Term Debt 500,000 500,000 500,000 500,000 L Z = Z-Scores
Market Value of Equity 2,040,700 2,268,579 2,438,638 3,222,747 Z S = Springate
Marketable Securities 20,000 50,000 100,000 200,000 L L = Logit Analysis
Net Profit before Interest and Taxes 581,000 265,542 139,942 585,885 S, L F = Fulmer H-Factor
Retained Earnings 1,890,700 2,118,579 2,288,638 3,072,747 Z, F All = All Predictors
Sales 2,000,000 1,500,000 1,300,000 2,010,100 ALL except Z3
Tangible Total Assets 28,750 27,500 26,250 25,000 F
Cash Working Total Assets 3,505,055 3,549,475 3,686,425 4,784,697 All
Flow Capital
Total Liabilities 1,464,355 1,280,896 1,247,787 1,561,950 Z, F
Working Capital 680,950 794,537 1,102,304 1,891,121 Z, S, F

Predictions
Z Score: If Publicly Held 2004 2005 2006 2007 TREND
1.2 x (working capital / total assets) 0.2331 0.2686 0.3588 0.4743
1.4 x (retained earn / total assets) 0.7552 0.8356 0.8692 0.8991
3.3 x (EBIT / total assets) 0.6600 0.3027 0.2175 0.8218
.6 x (market value equity / total liabilities) 0.8361 1.0627 1.1726 1.2380
.999 x (sales / total assets) 0.5700 0.4222 0.3523 0.4197
Z Score: If Publicly Held 3.05 2.89 2.97 3.85 3.81 OK
Overall Trend OK

Z Score: If Privately Held 2004 2005 2006 2007 TREND


.717 x (working capital / total assets) 0.1393 0.1605 0.2144 0.2834
.847 x (retained earn / total assets) 0.4569 0.5055 0.5258 0.5439
3.107 x (EBIT / total assets) 0.6214 0.2850 0.2048 0.7738
.042 x (market value equity / total liabilities) 0.0585 0.0744 0.0821 0.0867
.998 x (sales / total assets) 0.5695 0.4218 0.3519 0.4193
Z Score: If Privately Held 1.85 1.45 1.38 2.11 1.87 Warning - Trend Below 2.90
Overall Trend is OK

Z Score: Non-Manufacturing 2004 2005 2006 2007 TREND


6.56 x (working capital / total assets) 1.2745 1.4684 1.9616 2.5928
3.26 x (retained earn / total assets) 1.7585 1.9458 2.0239 2.0936
6.72 x (EBIT / total assets) 1.3440 0.6163 0.4429 1.6736
1.05 x (market value equity / total liabilities) 1.4633 1.8596 2.0521 2.1664
Z Score: Non-Manufacturing 5.84 5.89 6.48 8.53 8.85 OK
Overall Trend is OK

Springate Analysis 2004 2005 2006 2007 TREND


Working Capital 680,950 794,537 1,102,304 1,891,121
Net Profit before interest and Taxes 581,000 265,542 139,942 585,885
Total Assets 3,505,055 3,549,475 3,686,425 4,784,697
Net Profit before Taxes 701,000 325,542 242,942 1,191,585
Current Liabilities 757,355 623,896 590,787 904,950
Sales 2,000,000 1,500,000 1,300,000 2,010,100

Working Capital/Total Assets 0.19428 0.22385 0.29902 0.39524


Net Profit before interest and Taxes/Total Assets 0.20000 0.09172 0.06590 0.24904
Net Profit before Taxes/Current Liabilities 0.92559 0.52179 0.41122 1.31674
Sales/Total Assets 0.57060 0.42260 0.35265 0.42011
Springate Analysis Z = 1.65 1.03 0.92 2.21 1.84 OK - Above 0.862
Overall Trend is OK

Logit Analysis 2004 2005 2006 2007 TREND


Cash 90,360 289,233 614,196 1,454,008
Marketable Securities 20,000 50,000 100,000 200,000
Accounts Receivable-Beginning 350,000 657,534 493,151 427,397
Accounts Receivable-Ending 657,534 493,151 427,397 660,855
Inventory-Beginning 400,000 630,411 590,959 575,178
Inventory-Ending 630,411 590,959 575,178 631,208
Fixed Assets 2,005,000 1,983,542 1,962,084 1,940,626
Total Assets 3,505,055 3,549,475 3,686,425 4,784,697
Current Liabilities 757,355 623,896 590,787 904,950
Long Term Debt 500,000 500,000 500,000 500,000
Sales 2,000,000 1,500,000 1,300,000 2,010,100
Income from Continuing Operations 581,000 265,542 139,942 585,885

Constant 0.23883 0.23883 0.23883 0.23883


Average Inventories/Sales -0.034 -0.043 -0.048 -0.034
Average Receivables/Average Inventories -1.651 -1.321 -1.176 -1.657
Cash+Marketable Securities/Total Assets -0.339 -1.030 -2.088 -3.727
Quick Assets/Current Liabilities 3.117 4.101 5.940 7.863
Income from CO/(Total Assets-Current Liab) 0.103 0.044 0.022 0.073
Long-Term Debt/(Total Assets-Current Liab) -0.792 -0.743 -0.703 -0.561
Sales/(Net Working Capital+Fixed Assets) 0.083 0.059 0.046 0.056
Sum of Coefficients * Ratios 0.725 1.306 2.232 2.253
Logit Analysis Probability of Bankruptcy 32.62% 21.31% 9.69% 9.51% -2% OK - Below 50%
1 2 3 4 5 Overall Trend is OK
Fulmer H-Factor Analysis 2004 2005 2006 2007 TREND
Retained Earnings/Total Assets 0.5394 0.5969 0.6208 0.6422
Sales/Total Assets 0.5706 0.4226 0.3526 0.4201
EBIT/Equity 0.3435 0.1435 0.0996 0.3697
Cash Flow/Total Debt 0.0617 0.2258 0.4922 0.9309
Total Debt/Total Assets 0.4178 0.3609 0.3385 0.3264
Current Liabilities/Total Assets 0.2161 0.1758 0.1603 0.1891
Log Tangible Total Assets 4.4586 4.4393 4.4191 4.3979
Working Capital/Total Debt 0.4650 0.6203 0.8834 1.2107
Log EBIT/Interest 1.6349 1.3018 1.1746 1.8653

H-Factor
2.98 3.30 3.43 3.55
0.12 0.09 0.07 0.09
0.03 0.01 0.01 0.03
0.08 0.29 0.63 1.18
-0.05 -0.04 -0.04 -0.04
0.50 0.41 0.37 0.44
2.56 2.55 2.54 2.53
0.50 0.67 0.96 1.31
1.46 1.16 1.05 1.67
Sum 8.19 8.44 9.02 10.76
Less -6.08 -6.08 -6.08 -6.08
Fulmer H-Factor Analysis H = 2.11 2.37 2.95 4.68 5.10 OK
3.03 Overall Trend is OK

© Copyright, 2007, Jaxworks, All Rights Reserved.


Copyright Notice
© 2009, JaxWorks
All rights reserved.
Specifications are subject to change without notice.

JaxDash™ Small Business Analysis System is a registered trademark of Jaxworks. All other brands or products are trademarks or
registered trademarks of their respective holders and should be treated as such.

This program is protected by copyright law and international treaties.Unauthorized reproduction or distribution of this program, or any
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© Copyright, 2007, Jaxworks, All Rights Reserved.