2Revenue growth
9.0%
9.0%
9.0%
9.0%
9.0%
3COGS % of sales (excluding D&A)
54.0%
54.0%
54.0%
54.0%
54.0%
4SG&A % of sales
19.0%
19.0%
19.0%
19.0%
19.0%
5Depreciation % of beginning PP&E
10.0%
10.0%
10.0%
10.0%
10.0%
6Tax rate
21.0%
21.0%
21.0%
21.0%
21.0%
8Days inventory on hand
64
64
64
64
64
10Other current assets % of revenue
2.0%
2.0%
2.0%
2.0%
2.0%
11Accrued liabilities % of revenue
3.0%
3.0%
3.0%
3.0%
3.0%
12Deferred revenue % of revenue
4.0%
4.0%
4.0%
4.0%
4.0%
13Capex % of revenue
5.0%
5.0%
5.0%
5.0%
5.0%
14Interest rate
6.0%
6.0%
6.0%
6.0%
6.0%
15Dividend payout %
20.0%
20.0%
20.0%
20.0%
20.0%
17Revenueyours
43,000
46,870
18Revenue Growthyours
9.0%
19COGS (excluding D&A)yours
23,140
25,350
20Gross Profityours
19,860
21,520
21Gross Marginyours
46.2%
45.9%
23EBITDAyours
11,690
12,615
24Depreciationyours
1,800
1,835
25Operating Income / EBITyours
9,890
10,780
26Interest Expenseyours
840
840
27Pre-Tax Incomeyours
9,050
9,940
29Net Incomeyours
7,150
7,853
32Accounts Receivableyours
6,479
7,063
33Inventoryyours
4,100
4,469
34Other Current Assetsyours
860
937
35Total Current Assetsyours
22,338
28,627
37Total Assetsyours
40,688
47,486
38Accounts Payableyours
2,733
2,979
39Accrued Liabilitiesyours
1,290
1,406
40Deferred Revenueyours
1,720
1,875
41Total Current Liabilitiesyours
5,743
6,260
43Total Liabilitiesyours
19,743
20,260
44Contributed Capitalyours
8,000
8,000
45Retained Earningsyours
12,945
19,226
46Total Stockholders' Equityyours
20,945
27,226
47Total Liabilities & Equityyours
40,688
47,486
50Net Incomeyours
7,150
7,853
51Depreciationyours
1,800
1,835
52Change in Accounts Receivableyours
(534)
(584)
53Change in Inventoryyours
(339)
(369)
54Change in Other Current Assetsyours
(71)
(77)
55Change in Accounts Payableyours
225
246
56Change in Accrued Liabilitiesyours
106
116
57Change in Deferred Revenueyours
142
155
58Cash Flow From Operationsyours
8,479
9,175
59Capital Expendituresyours
(2,150)
(2,344)
60Cash Flow From Investingyours
(2,150)
(2,344)
61Debt Issuance / Repaymentyours
–
–
62Dividendsyours
(1,430)
(1,571)
63Cash Flow From Financingyours
(1,430)
(1,571)
64Net Change in Cashyours
4,899
5,260
65Beginning Cashyours
6,000
10,899
66Ending Cashyours
10,899
16,158
69Beginning PP&Eyours
18,000
18,350
70(+) Capital Expendituresyours
2,150
2,344
71(–) Depreciationyours
(1,800)
(1,835)
72Ending PP&Eyours
18,350
18,859
74Beginning Retained Earningsyours
7,225
12,945
75(+) Net Incomeyours
7,150
7,853
76(–) Dividendsyours
(1,430)
(1,571)
77Ending Retained Earningsyours
12,945
19,226