Financial Study (Part2)

7/30/2019 Financial Study (Part2)

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FILIPIZZA

STATEMENTS OF FINANCIAL POSITION

FOR THE YEARS ENDED 2014 TO 2018

2014 2015 2016 2017 2018

Cash 343,121.04 1,901,181.29 3,300,941.05 5,023,257.38 7,097,470.56

Inventories 2,115,594.64 2,277,362.78 2,649,078.30 3,077,616.78 3,571,549.03

Current assets 2,458,715.68 4,178,544.06 5,950,019.35 8,100,874.15 10,669,019.58

Fixed assets 184,564.04 155,428.09 126,292.13 97,156.17 68,020.21

Total assets 2,643,279.72 4,333,972.15 6,076,311.48 8,198,030.33 10,737,039.80

VAT payable 139,382.13 424,375.20 456,960.73 516,237.17 584,031.56

Income tax payable 451,169.28 557,060.59 680,044.31 822,746.02 988,188.33

Total liabilities 590,551.40 981,435.79 1,137,005.05 1,338,983.19 1,572,219.89

Capital 1,000,000.00 2,052,728.32 3,352,536.36 4,939,306.43 6,859,047.14

Net income 1,052,728.32 1,299,808.05 1,586,770.06 1,919,740.71 2,305,772.77

Owner's equity 2,052,728.32 3,352,536.36 4,939,306.43 6,859,047.14 9,164,819.91

Total l iabilities and partners' equity 2,643,279.72 4,333,972.15 6,076,311.48 8,198,030.33 10,737,039.80

- - - - -

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FILIPIZZA

STATEMENTS OF INCOME


2014 2015 2016 2017 2018

Sales 7,614,000.00 8,756,100.00 10,069,515.00 11,579,942.25 13,316,933.59

Cost of goods sold (4,985,903.32) (5,733,788.82) (6,593,857.14) (7,582,935.71) (8,720,376.06)

Gross profit 2,628,096.68 3,022,311.18 3,475,657.86 3,997,006.54 4,596,557.52

Expenses (1,124,199.09) (1,165,442.55) (1,208,843.48) (1,254,519.82) (1,302,596.42)Net profit 1,503,897.60 1,856,868.64 2,266,814.38 2,742,486.73 3,293,961.11

Income tax (451,169.28) (557,060.59) (680,044.31) (822,746.02) (988,188.33)

Net income 1,052,728.32 1,299,808.05 1,586,770.06 1,919,740.71 2,305,772.77

NOTES: The corporate tax rate effective for the period starting Jan.1, 2009 is 30%.

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FILIPIZZA

STATEMENTS OF CASH FLOWS


2014 2015 2016 2017 2018

Cash flow from operating activities

Net profit 1,503,897.60 1,856,868.64 2,266,814.38 2,742,486.73 3,293,961.11

Depreciation 29,135.96 29,135.96 29,135.96 29,135.96 29,135.96

Adjusted net profit 1,533,033.55 1,886,004.59 2,295,950.34 2,771,622.68 3,323,097.06

Increase in inventories (2,115,594.64) (161,768.13) (371,715.52) (428,538.48) (493,932.25)

Increase in VAT payable 139,382.13 284,993.07 32,585.54 59,276.44 67,794.39

Cash provided by operations (443,178.96) 2,009,229.53 1,956,820.36 2,402,360.64 2,896,959.20

Income tax paid - (451,169.28) (557,060.59) (680,044.31) (822,746.02)

Net cash from operating activities (443,178.96) 1,558,060.25 1,399,759.76 1,722,316.32 2,074,213.18

Cash flow from investing activities

Acquisition of fixed assets (213,700.00) - - - -

Cash flow from financing activities

Capital contribution 1,000,000.00 - - - -

Cash provided by financing activities 1,000,000.00 - - - -

Net increase in cash 343,121.04 1,558,060.25 1,399,759.76 1,722,316.32 2,074,213.18

Beginning cash balance - 343,121.04 1,901,181.29 3,300,941.05 5,023,257.38

Ending cash balance 343,121.04 1,901,181.29 3,300,941.05 5,023,257.38 7,097,470.56

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FILIPIZZA

COST OF GOODS SOLD


2014 2015 2016 2017 2018

Direct materials, beginning - 1,561,605.39 1,640,275.13 1,916,427.50 2,235,068.37

Purchases 6,246,421.54 4,999,495.14 6,025,434.88 7,023,845.96 8,175,405.05

Direct materials available for use 6,246,421.54 6,561,100.53 7,665,710.01 8,940,273.47 10,410,473.41

Less: Direct materials, ending (1,561,605.39) (1,640,275.13) (1,916,427.50) (2,235,068.37) (2,602,618.35)

Direct mater ial s put into production 4,684,816.16 4,920,825.39 5,749,282.51 6,705,205.10 7,807,855.06

Direct labor 320,605.44 332,305.44 344,590.44 357,489.69 371,033.90

Overhead 534,470.98 563,756.37 595,547.33 630,138.54 667,869.36

Goods put into production 5,539,892.58 5,816,887.20 6,689,420.28 7,692,833.33 8,846,758.33

Add: Work in process, beginning - - - - -

Total goods put in production 5,539,892.58 5,816,887.20 6,689,420.28 7,692,833.33 8,846,758.33

Less: Work in process, ending - - - - -

Finished goods 5,539,892.58 5,816,887.20 6,689,420.28 7,692,833.33 8,846,758.33

Add: Finished goods, beginning - 553,989.26 637,087.65 732,650.79 842,548.41

Total goods available for sale 5,539,892.58 6,370,876.46 7,326,507.93 8,425,484.12 9,689,306.74

Less: Finished goods, ending (553,989.26) (637,087.65) (732,650.79) (842,548.41) (968,930.67)

Cost of goods sold 4,985,903.32 5,733,788.82 6,593,857.14 7,582,935.71 8,720,376.06

Sales 7,614,000.00 8,756,100.00 10,069,515.00 11,579,942.25 13,316,933.59

Note 1

Raw materials 1,561,605.39 1,640,275.13 1,916,427.50 2,235,068.37 2,602,618.35

Finished goods 553,989.26 637,087.65 732,650.79 842,548.41 968,930.67Inventories 2,115,594.64 2,277,362.78 2,649,078.30 3,077,616.78 3,571,549.03

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SCHEDULE OF EXPENSES

Monthlyexpenses 2014 2015 2016 2017 2018

Lease 23,000.00 41,400.00 41,400.00 41,400.00 41,400.00 41,400.00

Salaries, wages and other employee benefits 40,345.62 1,028,414.88 1,067,492.88 1,108,524.78 1,151,608.28 1,196,845.94

Utilities 1,619.80 19,437.60 21,381.36 23,519.50 25,871.45 28,458.59

Advertising 242.17 2,906.00 2,906.00 2,906.00 2,906.00 2,906.00

Business registration 574.17 6,890.00 7,096.70 7,309.60 7,528.89 7,754.76

Supplies 6.25 75.00 90.00 108.00 129.60 155.52

Total cash expenses 65,788.00 1,099,123.48 1,140,366.94 1,183,767.88 1,229,444.21 1,277,520.81

Depreciation 2,089.63 25,075.61 25,075.61 25,075.61 25,075.61 25,075.61

67,877.64 1,124,199.09 1,165,442.55 1,208,843.48 1,254,519.82 1,302,596.42

Expenses to be allocated (80% for production and 20% for admin)

Rent 41,400.00 41,400.00 41,400.00 41,400.00 41,400.00

Utilities 97,188.00 106,906.80 117,597.48 129,357.23 142,292.95


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LEGAL REQUIREMENTS

Business Tax3,000.0

0

Mayor's Permit100.00

Business Plate200.0

0

Sanitary Inspection Fee1,000.0

0

Mayor's Certificate50.0

0

Building Inspection Fee400.0

0

Electrical Inspection Fee400.0

0

Plumbing Inspection Fee400.0

0

Sign/ Billboard Inspection Fee200.0

0

Fire Fee405.0

0

SEC40.0

0

BIR530.0

0

DTI165.0

0

6,890.00

SCHEDULE OF OFFICE SUPPLIES AND

UTILITIES

Office supplies Qty Price Total

Ballpen 3

5.001

5.00

Logbook 230.00

60.00

75.00

Supplies7

5.00

Company Monthly Annually

Meralco1,00

0.0012,00

0.00

NAWASA6,00

0.0072,00

0.00

Communication1,09

9.0013,18

8.00

8,099.00

97,188.00


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8/25

PINOY BEEF CALDERETA PIZZAYEAR Daily Monthly Annually

13,150.00

94,500.00

1,134,000.00

23,622.50

108,675.00

1,304,100.00

34,165.88

124,976.25

1,499,715.00

44,790.76

143,722.69

1,724,672.25

55,509.37

165,281.09

1,983,373.09

PINOY BOPIS PIZZAYEAR Daily Monthly Annually

11,820.00

54,600.00

655,200.00

22,093.00

62,790.00

753,480.00

32,406.95

72,208.50

866,502.00

42,767.99

83,039.78

996,477.30

53,183.19

95,495.74

1,145,948.90

CHILI CHEESE HAM STICKSYEAR Daily Monthly Annually

11,980.00

59,400.00

712,800.00

22,277.00

68,310.00

819,720.00

32,618.55

78,556.50

942,678.00

43,011.33

90,339.98

1,084,079.70

53,463.03

103,890.97

1,246,691.66

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CHICKEN STRIPSYEA

R Daily Monthly Annually

11,530.00

45,900.00

550,800.00

21,759.50

52,785.00

633,420.00

32,023.43

60,702.75

728,433.00

42,326.94

69,808.16

837,697.95

52,675.98

80,279.39

963,352.64

ICED TEAYEA


11,500.00

45,000.00

540,000.00

21,725.00

51,750.00

621,000.00

31,983.75

59,512.50

714,150.00

42,281.31

68,439.38

821,272.50

52,623.51

78,705.28

944,463.38

SOFTDRINKSYEA


12,100.00

63,000.00

756,000.00

22,415.00

72,450.00

869,400.00

32,777.25

83,317.50

999,810.00

43,193.84

95,815.13

1,149,781.50

53,672.91

110,187.39

1,322,248.73

BOTTLED WATERYEA


1900

.0027,000

.00324,000

.00

21,035.00

31,050.00

372,600.00

31,190.25

35,707.50

428,490.00

41,368.79

41,063.63

492,763.50

51,574.11

47,223.17

566,678.03

NACHOS WITH SALSE AND CHEESEDIP

YEAR Daily Monthly Annually

1600

.0018,000

.00216,000

.00

2690

.0020,700.00

248,400.00

3793

.5023,805.00

285,660.00

4912

.5327,375.75

328,509.00

51,049.40

31,482.11

377,785.35

Schedule 1: SALES PROJECTIONS

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PINOY SISIG PIZZA

Ingredients Qty Cost14 inch pizzadough 1 pc

15.85

pizza sauce3tbsp 5.4

sisig topping 125g27.6

5

onion1/2pc 1.25

red bell pepper1/2pc 2

green bell pepper1/2pc 2

mozzarella cheese3/4cup

56.25

TOTAL 110.

40

PINOY BICOL EXPRESS PIZZA


15.85


bicol expresstopping 125g

28.51

onion1/2pc 1.25




56.25

TOTAL 111.

26

PINOY BOPIS PIZZA


15.85


bopis topping 125g12.8

6

onion1/2pc 1.25




56.25

TOTAL 95.6

05

Schedule 2: PRODUCTION COSTS

19

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PINOY BEEF CALDERETA PIZZA


15.85


beef calderetatopping 125g

39.67

onion1/2pc 1.25

red bell pepper 1/2pc 2



56.25

TOTAL 122.

42

PINOY ADOBONG PUSIT PIZZA

Ingredients Qty Cost

14 inch pizza dough 1 pc15.8

5


adobong pusittopping 125g

16.60

onion1/2pc 1.25

red bell pepper 1/2pc 2



56.25

TOTAL 99.3

5

PINOY CHICKEN STRIPS


flour1 1/2cup 5.61

garlic salt 1 tsp 2.36

dried basil1/2tspn 1.09

pepper1/8tspn 0.11

egg 1 pc 4

buttermilk 1 cup 28.37boneless skinless chickenbreasts,

1/2kilo 62.5

cooking oil5tbsp 3.85

107.8

9

Yield: 2 servings 53.9

5

PRODUCT COSTING

Direct Cost53.94

5

Indirect Cost 9.95

Schedule 2: PRODUCTION COSTS1

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Nachos with Salsa andCheese dip


Nachos 300g 30Salsa Ingredients

:

tomato 3 pcs 3.75

vinegar 1/2 tsp 0.04

salt 1/2 tsp0.03

5

pepper 1/4 tsp0.42

5

chilli powder 1/2 tsp 3.85Cheese SauceIngredients:

cheddar cheese1/2cup

28.92

ground pepper 1/4 tsp0.42

5

All Purpose Cream

2packs(500g) 86

153.4

5

Chili Cheese Ham Sticks


siling haba,pangsigang

8 largepcs 5.6

sweet ham 2 pcs 8.66

cheese1/4 block(45g) 10.5

lumpia wrapper 8 pcs 8

cooking oil 1/2 cup 6.24

Dipping sauce:

mayonnaise 1/4 cup11.8

8

garlic 2 cloves 1.4Wrapping batter:

cornstarch 1/4 cup 4.53

water 1/2 cup 0.1856.99

Yield 2 servings 28.4

95

PRODUCTCOSTING

Direct Cost 28.50Indirect Cost 9.95

Production Cost 38.44

ICED TEA

Ingredients QtyCost

ice tea powder 25g5.8

1

distilled water1liter

1.56

Yield 1 pitcher/5glasses

7.37

PRODUCT COSTING Direct Cost 7.37

Indirect Cost 9.95Bottled water

Item QtyCost

1 bottle500ml 10

PRODUCTCOSTING Direct Cost 10

Indirect Cost 9.9519.9Softdrinks

Item Qty

Co

st

1 bottle120z 10

PRODUCTCOSTING Direct Cost 10

Indirect Cost 9.9519.9

Schedule 2: PRODUCTION COSTS199


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wage and salaries

direct laborrate per

Hour # of days# of hours

per day #daily

salarymonthlysalary

annualsalary

ProductionHead 58.33 6 8 2 933.28 27,998.40

335,980.80

Cook 38.16 6 8 2 610.56 18,316.80219,801.6

0

Selling

labor

rate per

Hour # of days

# of hours

per day #

daily

salary

monthly

salary

annual

salary

Cashier 38.16 6 6 2 457.92 13,737.60164,851.2

0

Service Crew 38.16 6 6 2 457.92 13,737.60164,851.2

0

Gen andAdmin.

rate perHour # of days

# of hoursper day #

dailysalary

monthlysalary

annualsalary

Gen.Manager 75.00 6 8 2

1,200.00 36,000.00

432,000.00

total3,659.6

8 109,790.401,317,484

.80


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* note: there IS 30 days ofoperations in a month.

20

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16/25

SCHEDULE OF CONTRIBUTIONS

2014 Based on schedule

POSITION SALARY SSS PHILHEALTH PAG IBIGOther Employee

Benefit MONTHLY 13th MONTH YEARLY

General Manager (2) 16,560.00 2,120.00 568.80 200.00 2,400.00 21,848.80 16,560.00 278,745.60

Service c rews (2) 6,750.00 989.40 210.00 200.00 1,099.01 9,248.41 6,750.00 117,730.92

Cashier (2) 6,750.00 989.40 210.00 200.00 1,099.01 9,248.41 6,750.00 117,730.92

Production heads (2) 13,200.00 1,837.40 396.00 200.00 1,221.12 16,854.52 13,200.00 215,454.24

Cook (2) 9,000.00 1 ,272.00 270.00 200.00 1 ,866.56 12,608.56 9,000.00 160,302.72

2015 52,260.00 69,808.70



General Manager (2) 17,388.00 2,120.00 568.80 200.00 2,400.00 22,676.80 17,388.00 289,509.60

Service c rews (2) 7,087.50 989.40 210.00 200.00 1,099.01 9,585.91 7,087.50 122,118.42

Cashier (2) 7,087.50 989.40 210.00 200.00 1,099.01 9,585.91 7,087.50 122,118.42


Cook (2) 9,450.00 1 ,272.00 270.00 200.00 1 ,866.56 13,058.56 9,450.00 166,152.72

2016



General Manager (2) 18,257.40 2,120.00 568.80 200.00 2,400.00 23,546.20 18,257.40 300,811.80

Service c rews (2) 7,441.88 989.40 210.00 200.00 1,099.01 9,940.29 7,441.88 126,725.30

Cashier (2) 7,441.88 989.40 210.00 200.00 1,099.01 9,940.29 7,441.88 126,725.30


Cook (2) 9,922.50 1 ,272.00 270.00 200.00 1 ,866.56 13,531.06 9,922.50 172,295.22


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2007



General Manager (2) 19,170.27 2,120.00 568.80 200.00 2,400.00 24,459.07 19,170.27 312,679.11

Service c rews (2) 7,813.97 989.40 210.00 200.00 1,099.01 10,312.38 7,813.97 131,562.51

Cashier (2) 7,813.97 989.40 210.00 200.00 1 ,099.01 10,312.38 7,813.97 131,562.51


Cook (2) 10,418.63 1,272.00 270.00 200.00 1,866.56 14,027.19 10,418.63 178,744.85

2018



General Manager (2) 20,128.78 2,120.00 568.80 200.00 2,400.00 25,417.58 20,128.78 325,139.79

Service c rews (2) 8,204.67 989.40 210.00 200.00 1,099.01 10,703.08 8,204.67 136,641.59

Cashier (2) 8,204.67 989.40 210.00 200.00 1 ,099.01 10,703.08 8,204.67 136,641.59


Cook (2) 10,939.56 1,272.00 270.00 200.00 1,866.56 14,548.12 10,939.56 185,516.95

POSITION 2014 2015 2016 2017 2017 2018

General Manager (2) 557,491.20 579,019.20 601,623.60 567,758.22 625,358.22 650,279.57

Service crews (2) 235,461.84 244,236.84 253,450.59 236,748.79 263,125.03 273,283.19

Cashier (2) 235,461.84 244,236.84 253,450.59 236,748.79 263,125.03 273,283.19

Production heads (2) 430,908.48 448,068.48 466,086.48 455,698.50 485,005.38 504,870.23

Cook (2) 320,605.44 332,305.44 344,590.44 312,692.25 357,489.69 371,033.90

Total 1,779,928.80 1,847,866.80 1,919,201.70 1,809,646.55 1,994,103.35 2,072,750.07


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VALUE ADDED TAX COMPUTATIONS

2014 2015 2016 2017 2018

Output VAT 913,680.00 1,050,732.00 1,208,341.80 1,389,593.07 1,598,032.03

Input VAT

Direct materials 749,570.58 599,939.42 723,052.19 842,861.52 981,048.61

Indirect materials 2,610.21 3,132.25 3,758.70 4,510.44 5,412.53

Utilities 11,662.56 12,828.82 14,111.70 15,522.87 17,075.15

Rent 4,968.00 4,968.00 4,968.00 4,968.00 4,968.00

Advertising 348.72 348.72 348.72 348.72 348.72

Fixed asset 5,128.80 5,128.80 5,128.80 5,128.80 5,128.80

Supplies 9.00 10.80 12.96 15.55 18.66

774,297.87 626,356.80 751,381.07 873,355.90 1,014,000.47

VAT payable 139,382.13 424,375.20 456,960.73 516,237.17 584,031.56


19/25

TOTAL PROJECT COST

Pre - Operating Capital 6,890.00

Fixed Capital 213,700.00

Working Capital 526,871.55

Sub - Total 747,461.55

Contingency Allowance 252,538.45

TOTAL 1,000,000.00

PROJECT CAPITAL INVESTMENT 1,000,000.00

FIXED CAPITAL

Kitchen machines 44,740.00Office equipment 15,000.00

Furniture and fixtures 32,470.00

Building 121,490.00

213,700.00

PRE - OPERATING CAPITAL

Business legalization 6,890.00

WORKING CAPITAL

Cost of first production run

Direct materials 390,401.35

Direct labor 26,717.12

Overhead 44,539.25

461,657.71

1st Month operating cost

Lease 23,000.00

Salaries, wages and other employee benefits 40,345.62

Utilities 1,619.80

Advertising 242.17

Supplies 6.25

65,213.84

526,871.55205


20/25

FIXED ASSETS & ANNUAL DEPRECIATION

UNIT COST QTY TOTAL COST SALVAGE VALUEUSEFUL LIFE (In

years) ANNUAL DEPRECIATION

Kitchen machines

Pizza Racks 15,000.00 1 15,000 1,500 10 1,350.00

Pizza oven 13,000.00 1 13,000 1,300 10 1,170.00

Refrigerator 10,245.00 1 10,245 1,025 10 922.05

Kitchen Table 5,000.00 1 5,000 500 10 450.00

Kitchen Stove 675.00 1 675 68 7 86.79

Exhaust Fan 620.00 1 620 62 10 55.80

Weighing Scale 200.00 1 200 20 7 25.71

44,740 4,474 4,060.35

Office equipment

Desktop computer 15,000 1 15,000 1,500 7 1,928.57

15,000 1,500 1,928.57

Furniture and fixturesDining Set 5,000.00 5 25,000 2,500 10 2,250.00

Kitchen Cabinet 2,460.00 1 2,460 246 10 221.40

Water Dispenser 2,200.00 1 2,200 220 5 396.00

Wall Fan 480.00 3 1,440 144 7 185.14

Dining Lamps 150.00 5 750 75 5 135.00

Wall Clock 150.00 2 300 30 2 135.00

Flourenscence Light 90.00 2 180 18 2 81.00

Flourenscence Bulb 70.00 2 140 14 2 63.00

32,470 3,247 3,466.54

Building 121,490.00 1 121,490 12,149 7 15,620.14

213,700 25,076


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FINANCIAL RATIOS AND TURNOVERS

Analysis of Liquidity or Short-Term Solvency2013 2014 2015 2016 2017

Current Ratio

Current Assets2,458,71

5.684,178,54

4.065,950,01

9.358,100,87

4.1510,669,01

9.58

Divided by:Current Liabilities590,55

1.40981,43

5.791,137,00

5.051,338,98

3.191,572,21

9.89

Current Ratio 4.16 4.26 5.23 6.05 6.79

Quick or Acid test Ratio

Quick Assets2,458,71

5.684,178,54

4.065,950,01

9.358,100,87

4.1510,669,01

9.58

divided by: Current Liabilities590,55

1.40981,43

5.791,137,00

5.051,338,98

3.191,572,21

9.89

Quick or Acid test Ratio 4.16 4.26 5.23 6.05 6.79

Operating Cash flow to CurrentLiabilities Ratio

Cash flow from operating activities 443,178.96

1,558,06

0.25

1,399,75

9.76

1,722,31

6.32

2,074,21

3.18

Divided by: Current Liabilities590,55

1.40981,43

5.791,137,00

5.051,338,98

3.191,572,21

9.89


22/25

Operating Cash flow to CurrentLiabilities Ratio 0.75 1.59 1.23 1.29 1.32

Inventory Turnover

Cost of Goods sold4,985,90

3.325,733,78

8.826,593,85

7.147,582,93

5.718,720,37

6.06

divided by: Average Inventory balance2,115,59

4.642,277,36

2.782,649,07

8.303,077,61

6.783,571,54

9.03

Inventory Turnover 2.356738487 2.517731857 2.489113722 2.463898611 2.441622948

Average Sales Turnover

365 days 365 365 365 365 365

divided by: Inventory turnover 2.356738487 2.517731857 2.489113722 2.463898611 2.441622948

Average Sales Turnover 155 145 147 148 149

Fixed Asset Turnover

Net Revenues1,052,72

8.321,299,80

8.051,586,77

0.061,919,74

0.712,305,77

2.77divided by: Average Net Property and

equipment

413,70

0.00

213,70

0.00

213,70

0.00

213,70

0.00

213,70

0.00Fixed Asset Turnover 2.54 6.08 7.43 8.98 10.79


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Total Asset Turnover

Net Reveneues1,052,72

8.321,299,80

8.051,586,77

0.061,919,74

0.712,305,77

2.77

divided by: Average total Assets1,321,63

9.864,333,97

2.156,076,31

1.488,198,03

0.3310,737,03

9.80

Total Asset Turnover 0.80 0.30 0.26 0.23 0.21

Net Profit Margin

Net Income1,052,72

8.321,299,80

8.051,586,77

0.061,919,74

0.712,305,77

2.77

divided by: Total Revenues7,614,00

0.008,756,10

0.0010,069,51

5.0011,579,94

2.2513,316,93

3.59

Net Profit Margin 0.14 0.15 0.16 0.17 0.17

Cash Flow Margin

Cash Flow from operating activities443,17

8.961,558,06

0.251,399,75

9.761,722,31

6.322,074,21

3.18

Total Revenues7,614,00

0.008,756,10

0.0010,069,51

5.0011,579,94

2.2513,316,93

3.59

Cash Flow Margin 17.18 5.62 7.19 6.72 6.42

Return on Investment on Assets

Net Income

1,052,72

8.32

1,299,80

8.05

1,586,77

0.06

1,919,74

0.71

2,305,77

2.77

divided by: Average Total Assets2,643,27

9.724,333,97

2.156,076,31

1.488,198,03

0.3310,737,03

9.80


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Return on Investment on Assets 0.40 0.30 0.26 0.23 0.21

RATE OF RETURNS

Gross profit 2,628,096.68 3,022,311.18 3,475,657.86 3,997,006.54 4,596,557.52Sales 7,614,000.00 8,756,100.00 10,069,515.00 11,579,942.25 13,316,933.59


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Gross profit margin 34.52% 34.52% 34.52% 34.52% 34.52%

Net profit 1,052,728.32 1,299,808.05 1,586,770.06 1,919,740.71 2,305,772.77

Sales 7,614,000.00 8,756,100.00 10,069,515.00 11,579,942.25 13,316,933.59

Net profit margin 13.83% 14.84% 15.76% 16.58% 17.31%

Net income 1,052,728.32

Initial investment 1,000,000.00Rate of returns inInvestment 1.05

Initial investment 1,000,000.00

Net income 1,052,728.32

In years 0.949912702

Payback period 5 months

Documents

Financial Study (Part2)