1. Ch04No25
  2. Ch04No26
  3. Ch04No27
  A B C D E F G H I J K L M N O
1 MOOSE TOURS, INC.       MOOSE TOURS, INC.            
2 2006 Income Statement       Balance Sheet 12/31/2006            
3                                
4   Sales   $845,000     ASSETS     LIABILITIES    
5   Costs   657,000       CA         CL      
6   Other Expenses 17,500         Cash $23,000       AP $62,000  
7   EBIT   $170,500         AR 37,000       NP 15,000  
8   Interest Paid 12,500         INV 79,000       Total CL $77,000  
9   Taxable Income $158,000         Total CA $139,000     LTD   $144,000  
10   Taxes 35% 55,300                 OE      
11   Net Income $102,700       FA           CS & PIC $100,000  
12                 PPE Net $375,000       RE 193,000  
13   Dividends   $30,810 30.00%                 Total OE $293,000  
14   Inc In RE   $71,890 70.00%     Total Assets $514,000     Totla Liab & OE $514,000  
15                                
16                                
17 MOOSE TOURS, INC.       MOOSE TOURS, INC.            
18 Pro Forma Income Statement       Pro FormaBalance Sheet            
19 20% Sales Growth and 100% Capacity     20% Sales Growth and 100% Capacity          
20   Sales   $1,014,000     ASSETS     LIABILITIES    
21   Costs   $788,400       CA         CL      
22   Other Expenses $21,000         Cash $27,600       AP $74,400  
23   EBIT   $204,600         AR $44,400       NP 15,000  
24   Interest Paid $12,500         INV $94,800       Total CL $89,400  
25   Taxable Income $192,100         Total CA $166,800     LTD   $144,000  
26   Taxes 35% 67,235                 OE      
27   Net Income $124,865       FA           CS & PIC $100,000  
28                 PPE Net $450,000       RE 280,406  
29   Dividends   $37,460 30.00%                 Total OE $380,406  
30   Inc In RE   $87,406 70.00%     Total Assets $616,800     Totla Liab & OE $613,806  
31                                
32                 EFN = 2,995            

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  A B C D E F G H I J K L M N O
1 MOOSE TOURS, INC.       MOOSE TOURS, INC.            
2 2006 Income Statement       Balance Sheet 12/31/2006            
3                                
4   Sales   $845,000     ASSETS     LIABILITIES    
5   Costs   657,000       CA         CL      
6   Other Expenses 17,500         Cash $23,000       AP $62,000  
7   EBIT   $170,500         AR 37,000       NP 15,000  
8   Interest Paid 12,500         INV 79,000       Total CL $77,000  
9   Taxable Income $158,000         Total CA $139,000     LTD   $144,000  
10   Taxes 35% 55,300                 OE      
11   Net Income $102,700       FA           CS & PIC $100,000  
12                 PPE Net $375,000       RE 193,000  
13   Dividends   $30,810 30.00%                 Total OE $293,000  
14   Inc In RE   $71,890 70.00%     Total Assets $514,000     Totla Liab & OE $514,000  
15                                
16 Full Capacity Sales = $1,056,250                          
17 Capital Intensity Ratio = $375K/$1,056,250 = 35.50%                      
18 TA at Capacity = 35.5% X $1,014,000 = $360,000                      
19                                
20   845K = 80% * FCS                          
21                                
22                                
23 MOOSE TOURS, INC.       MOOSE TOURS, INC.            
24 Pro Forma Income Statement       Pro FormaBalance Sheet            
25 20% Sales Growth and 80% Capacity       20% Sales Growth and 80% Capacity          
26   Sales   $1,014,000     ASSETS     LIABILITIES    
27   Costs   $788,400       CA         CL      
28   Other Expenses $21,000         Cash $27,600       AP $74,400  
29   EBIT   $204,600         AR $44,400       NP 15,000  
30   Interest Paid $12,500         INV $94,800       Total CL $89,400  
31   Taxable Income $192,100         Total CA $166,800     LTD   $144,000  
32   Taxes 35% 67,235                 OE      
33   Net Income $124,865       FA           CS & PIC $100,000  
34                 PPE Net $360,000       RE 280,406  
35   Dividends   $37,460 30.00%                 Total OE $380,406  
36   Inc In RE   $87,406 70.00%     Total Assets $526,800     Totla Liab & OE $613,806  
37                                
38                 EFN = (87,006)            

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  A B C D E F G H I J K L M N O P
1 MOOSE TOURS, INC.       MOOSE TOURS, INC.              
2 2006 Income Statement       Balance Sheet 12/31/2006              
3                                  
4   Sales   $845,000     ASSETS     LIABILITIES      
5   Costs   657,000       CA         CL        
6   Other Expenses 17,500         Cash $23,000       AP $62,000    
7   EBIT   $170,500         AR 37,000       NP 15,000    
8   Interest Paid 12,500         INV 79,000       Total CL $77,000    
9   Taxable Income $158,000         Total CA $139,000     LTD   $144,000 $221,000  
10   Taxes 35% 55,300                 OE        
11   Net Income $102,700       FA           CS & PIC $100,000    
12                 PPE Net $375,000       RE 193,000    
13   Dividends   $30,810 30.00%                 Total OE $293,000    
14   Inc In RE   $71,890 70.00%     Total Assets $514,000     Totla Liab & OE $514,000    
15                                  
16   Debt to Equity Ratio 75.43%                          
17   New Debt is 75.43% X $380,406 = $286,927                 New TL 286927    
18   New TA - (New TL + New OE) = New EFN = -$50,533               New OE 380406    
19   Keeping this debt structure means we have to much cash on hand!!           NEW L&OE 667333    
20                           New TA 616800    
21                           EFN 50533    
22 MOOSE TOURS, INC.       MOOSE TOURS, INC.              
23 Pro Forma Income Statement       Pro FormaBalance Sheet              
24 20% Sales Growth and 100% Capacity     20% Sales Growth and 100% Capacity            
25   Sales   $1,014,000     ASSETS     LIABILITIES      
26   Costs   $788,400       CA         CL        
27   Other Expenses $21,000         Cash $27,600       AP $74,400    
28   EBIT   $204,600         AR $44,400       NP 15,000    
29   Interest Paid $12,500         INV $94,800       Total CL $89,400    
30   Taxable Income $192,100         Total CA $166,800     LTD   $144,000    
31   Taxes 35% 67,235                 OE        
32   Net Income $124,865       FA           CS & PIC $100,000    
33                 PPE Net $450,000       RE 280,406    
34   Dividends   $37,460 30.00%                 Total OE $380,406    
35   Inc In RE   $87,406 70.00%     Total Assets $616,800     Totla Liab & OE $613,806    

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