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INCOME STATEMENT
HISTORICAL FORECASTS
2019 2021 2022 computer growth rate average g.rate adjusted g.rate 2023 computed % of Sales Adjusted % of sales 2024 2025 2026 2027
SALES REVENUES 77,093,134 83,914,687 99,736,862 8.85% 18.86% 13.85% 20.00% 119,684,234 100.00% 100.00% 143,621,081.28 172,345,297.54 206,814,357.04 248,177,228.45
Cost of Sales 49,961,503 62,386,053 71,088,913 24.87% 13.95% 19.41% 19.41% 84,887,271 70.93% 71.52% 102,720,731.31 123,264,877.57 147,917,853.09 177,501,423.70
Gross Margin 27,131,631 21,528,634 28,647,949 34,796,963 40,900,350 49,080,420 58,896,504 70,675,805

Distribution Costs 11,729,183 14,024,399 16,890,481 19.57% 20.44% 20.00% 25.00% 21,113,101 17.64% 17.79% 25,548,626.72 30,658,352.07 36,790,022.48 44,148,026.98
Administrative Expenses 4,135,710 4,664,402 5,550,500 12.78% 19.00% 15.89% 15.89% 6,432,474 5.37% 5.42% 7,783,834.63 9,340,601.55 11,208,721.87 13,450,466.24
Training Expense 21,150 29,500 38,000 39.48% 28.81% 34.15% 25.00% 47,500 0.04% 0.04% 57,478.99 68,974.79 82,769.75 99,323.70
Selling Costs 601,153 944,531 1,006,229 57.12% 6.53% 31.83% 35.00% 1,358,409 1.13% 2.00% 2,872,421.63 3,446,905.95 4,136,287.14 4,963,544.57
TOTAL EXPENSES 16,487,196 19,662,832 23,485,210 28,951,485 36,262,362 43,514,834 52,217,801 62,661,361

INCOME BEFORE TAX 10,644,435 1,865,802 5,162,739 5,845,479 4,637,988 5,565,586 6,678,703 8,014,443
Income Tax Expense 500,575 568,591 590,278 13.59% 3.81% 8.70% 8.70% 641,632 697,454.19 758,132.70 824,090.25 895,786.10 notice that growth rate was used here
NET INCOME 10,143,860 1,297,211 4,572,461 5,203,846 3,940,534 4,807,453 5,854,612 7,118,657

Dividend 405,494 771,457 999,815 90.25% 29.60% 59.93% 60.00% 1,599,704 2,559,526 4,095,242 6,552,387.58 10,483,820 notice that growth rate was used here

RETAINED EARNINGS AT THE END OF THE YEAR 9,738,366 525,754 3,572,646 3,604,142 1,381,007 712,211 -697,775 -3,365,163

Delete this instruction:

Cells in yellow are inputs from 3-year FS. it must be changed based on
chosen company.
 Delete this instruction:
BALANCE SHEET Cells in yellow are inputs from 3-year FS. it must be changed based on
chosen company.

ASSETS HISTORICAL FORECASTS

CURRENT ASSETS 2019 2021 2022 computer growth rate average adjusted g.rate 2023 % of Sales Adjusted % of sales 2024 2025 2026 2027
Cash 5,225,776 4,321,081 5,267,144 -17.31% 21.89% 2.29% 3.00% 5,425,158 4.53% 4.57% 6,564,897.46 7,877,876.96 9,453,452.35 11,344,142.82
Trade and Other Recievables 1,165,772 1,026,395 1,745,294 -11.96% 70.04% 29.04% 30.00% 2,268,882 1.90% 1.91% 2,745,538.12 3,294,645.75 3,953,574.90 4,744,289.88
Inventories 22,400,561 23,600,633 22,471,187 5.36% -4.79% 0.29% 1.00% 22,695,899 18.96% 19.12% 27,463,944.85 32,956,733.82 39,548,080.59 47,457,696.70
Other Current Assets 986,279 988,103 868,138 0.18% -12.14% -5.98% 7.00% 928,908 0.78% 0.78% 1,124,056.33 1,348,867.59 1,618,641.11 1,942,369.33
TOTAL CURRENT ASSETS 29,778,388 29,936,212 30,351,763 31,318,847 37,898,437 45,478,124 54,573,749 65,488,499

NON-CURRENT ASSETS
Plant, Property and Equipment 34,271,429 34,995,708 40,223,987 2.11% 14.94% 8.53% 8.53% 43,655,093 47,378,872.53 51,420,290.36 55,806,441.13 60,566,730.55
Other Assets 1,290,624 880,250 1,358,522 -31.80% 54.33% 11.27% 7.00% 1,453,619 7,718,969.34 7,718,969.34 7,718,969.34 7,718,969.34
TOTAL NON CURRENT ASSETS 35,562,053 35,875,958 41,582,509 45,108,712 55,097,842 59,139,260 63,525,410 68,285,700

TOTAL ASSETS 65,340,441 65,812,170 71,934,272 76,427,559 92,996,279 104,617,384 118,099,159 133,774,199

LIABILITIES AND STOCKHOLDER'S EQUITY

LIABILITIES FORECASTS
CURRENT LIABILITIES 2017 % of Sales Adjusted % of sales 2018 2019 2020 2021
Trade and Other Payables 18,602,160 20,419,446 16,808,617 9.77% -17.68% -3.96% 2.00% 17,144,789 14.33% 14.45% 20,746,635.84 24,895,963.01 29,875,155.61 35,850,186.73
Loans Payable - Current 4,101,825 4,786,350 5,184,631 16.69% 8.32% 12.50% 0.00% 5,184,631 5,184,631 5,184,631 5,184,631 5,184,631
Income Tax Payable 500,575 568,591 664,764 13.59% 16.91% 15.25% 0.00% 664,764 664,764 664,764 664,764 664,764
TOTAL CURRENT LIABILITIES 23,204,560 25,774,387 22,658,012 22,994,184 26,596,031 30,745,358 35,724,551 41,699,582

NON-CURRENT LIABILITIES
Long Term Debt 38,164,424 37,737,967 39,440,468 -1.12% 4.51% 1.70% 2.00% 40,229,277 41,033,863 41,854,540 42,691,631 43,545,464
Other Non-current Liabilities 0 0 0 #DIV/0! #DIV/0! #DIV/0! 0.00% - - - - -
NON-CURRENT LIABILITIES 38,164,424 37,737,967 39,440,468 40,229,277 41,033,863 41,854,540 42,691,631 43,545,464
TOTAL LIABILITIES 61,368,984 63,512,354 62,098,480 63,223,462 67,629,894 72,599,898 78,416,182 85,245,045

STOCKHOLDERS EQUITY
Share Capital 2,000,000 2,000,000 7,500,000 0.00% 275.00% 137.50% 0.00% 7,500,000 7,500,000 7,500,000 7,500,000 7,500,000
Cumulative Earnings 1,971,457 3,299,815 5,735,792 67.38% 73.82% 70.60% 70.00% 9,750,846 16,576,439 28,179,946 47,905,908 81,440,044
TOTAL STOCKHOLDER'S EQUITY 3,971,457 5,299,815 13,235,792 17,250,846 24,076,439 35,679,946 55,405,908 88,940,044

TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 65,340,442 65,812,169 75,934,273 80,474,308.10 91,706,332.63 108,279,844.27 133,822,089.94 174,185,089.54

Notice that "T.Assets" and "T.Liabilities and Stockholder E"

If not balanced, retained earnings can be adjusted to match the total liabilities and Stockholders E.