Income Statement
Figures in USD millions 2024F 2025F 2026F
Revenue 4,269,347 4,482,814
COGS 1,795,750 $ 1,885,537.91
Gross Profit 2,473,596 2,597,276
SG&A 310,412 325,933
Depreciation 107,893 107,893
Operating Profit 2,055,291 2,163,450
Interest 259,020 259,020
Earnings Before Tax 1,796,271 1,904,430
Taxes 359,254 380,886
Net Income 1,437,017 1,523,544
Balance Sheet
Figures in USD 2023A 2024F 2025F 2026F
Cash & Cash Equivalents 3,547,903 2,179,340
Accounts Receivable 1,000,000 4,000,000
Inventory 200,000 200,000
Total Current Assets 4,747,903 6,379,340
Property Plant & Equipment (PPE) 11,466,288 11,466,288
accumulated deppreciation 404,601 512,494
Depreciation expense 107,893 107,893
Total Assets 15,701,697 17,225,241
Accounts Payable 50,000 50,000
Total Current Liabilities 50,000 50,000
Long Term Debt 2,745,132 2,745,132
Total Liabilities 2,745,132 2,745,132
Common Stock 7,000,000 7,000,000
Retained Earnings 5,906,565 7,430,109
Total Shareholders' Equity 12,906,565 14,430,109
Total Liabilities & Equity 15,701,697 17,225,241
Balance Sheet Check – –
Cash Flow Statement
Net Income 1,437,017 1,523,544
Depreciation 107,893 107,893
Change in Accounts Receivable $ (1,000,000.00) (3,000,000)
Change in Inventory $ (200,000.00) –
Change in Accounts Payable $ 50,000.00 –
Cash Flow from Operating Activities $ 394,910.01 $ (1,368,562.63)
Capital Expenditures $ -
Cash Flow from Investing Activities
Change in LT Debt $ 422,273.08
Change in Common Stock
Dividends
Cash Flow from Financing Activities $ 422,273.08 –
Beginning of Year Cash Balance $ 3,575,266.03 3,547,903
Change in Cash $ (27,363.07) $ (1,368,562.63)
End of Year Cash Balance $ 3,547,902.96 $ 2,179,340.33
Assumptions
Income Statement Assumptions
Revenue growth 5% 5% 5%
COGS as a % of Rev 42.1% 42.1%
SG&A as a % of Rev 7.3% 7.3%
Tax Rate 20.0% 20.0% 20.0% 20.0%
Balance Sheet Assumptions
Accounts Receivable as a % of Rev
Inventory as a % of COGS
Accounts Payable as a % of COGS
Long Term Debt
Interest Expense %
Interest Expense
Supporting Schedules
Fixed Assets Schedule
Capex $ 11,466,287.77
Existing Assets Useful Life (years)
New Assets Useful Life (years)
PP&E 2023 EOP
Existing Asset Depreciation
New Assets Depreciation
Total Depreciation
Beginning PPE
Capex
Depreciation
Ending PPE
Retained Earnings Schedule
Beginning of Period RE
Net Income
Dividends
End of Period RE
Interest Expense
Total Interest Expense
2027F 2028F
2027F 2028F
dep = Price of asset / Useful life of the asset
5% 5%
20.0% 20.0%
Income Statement
2022 2023 2024 2025 2026 2027
Sales X1 X2 X3 =X3(1+6%)=X3(1+6%)^2 =X3(1+6%)^3
COGS Y1 Y2 Y3 =X3(1+6%)*50.33%
=Y1/X1 =Y2/X2 =Y3/X3
50% 52% 49% 50.33%
S&A expenses
Depreciation
…
Tax
NI
g
=(X2-X1)/X1 =(X3-X2)/X2
5% 6% 4.5% 6.00%
Percentage of sales
