Setting up the financial statement model Sales growth
10%
Current assets/sales Current liabilities/sales Net fixed asset/sales COGS/Sales
Depreciation rate Interest rate on date
Interest paid on cash &MS Tax rate
Dividend payout ratio Year
Income statement Sales COGS
Interest pmts on debt Interest earned on C&MS
Depreciation
Profit before tax Taxes
Profit after tax Dividends
Retained earnings
Balance sheet Cash and MS Current assets
Fixed assets At cost
Depreciation Net fixed assets Total assets
Current liabilities Debt Stock
Accumulated retained earnings Total liabilities and equity
WACC Long term FCF growth rate
15% 8%
77% 50% 10% 10% 8%
40% 40%
0
5,000 -2,500 -160 30
500
1870 750
1125 -450 675
1 2 3 4 5 6 7 8
400 750
5350 -1500 3850 5000
400
1600 2250 750
5000
20% 5%