Years ending           05-06 05-06 05-06 05-06 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08    
Jan           1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr    
ASSUMPTIONS FOR 2nd & 3rd YEARS AND PROJECTIONS FOR 1st YEAR - OTHER ITEMS    
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Various Items                    
Annualised sales per employee ($000) ->> 67 65 64 72 70 70 70 70 70 70 70 70    
Operating lease payments ($000) ->> 3 3 3 3 3 3 3 3 3 3 3 3    
Miscellaneous income ($000) ->> 6 6 6 6 9 9 9 9 9 9 9 9    
Intangible asset amortization ($000) ->> 3 3 3 3 2      
Dividends declared ($000) ->>       10   10   15    
Dividend payments ($000)       10   10   15    
     
Taxes    
Effective federal/state tax rate (%) ->> ->> ->> ->> 7.0 ->> ->> ->> 7.0 ->> ->> ->> 8.0    
Federal/state tax payments ($000) - 1 - - - 5 - -    
     
Fixed Assets    
Closing fixed assets at cost ($000) 150 160 175 205 201 201 208 258 253 253 298 286 286    
Opening accumulated depreciation ($000) 25 28 31 34 36 40 42 47 49 55 60 59    
                     
Composite depreciation rate (% pa) ->> 6.9 7.9 8.0 7.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0    
                     
Capital expend - excl leases ($000) ->> 10 30       50   45      
Capital expend payments ($000) 19 30     50     45        
     
Disposals of fixed assets ($000):                    
 -Proceeds ->> 10   15   15   35      
 -Cost ->> 4   5   5   12      
 -Accumulated depreciation ->> 2   2   3   7      
                     
Stocks, Shares & Investment                    
Proceeds of new stock issues ($000) ->> 5     30      
No of new shares issued (000s) ->> 3     20      
                     
Debt                    
Increases in longterm debt/notes ($000) ->> 10 50 50        
Longterm debt/note repayments ($000) ->> 5 5 5 5 5 5 5 5 5 5 5 5    
                     
Interest    
Interest rates (% pa):                    
 -Cash at bank ->> 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0    
 -Short-term loans/line of credit ->> 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5    
 -Longterm debt/notes ->> 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5    
                     
Leases                    
New lease obligations ($000) ->> 15     12      
Lease interest expense ($000) ->> 3 4 4 1 2 2 2 2 2 2 2 2    
Lease repayments ($000) ->> 6 7 7 1 2 2 2 2 2 2 2 2    
                     
Allocation of Debt    
Total longterm debt/notes outstanding ($000) 45 40 85 130 125 120 115 110 105 100 95 90    
Total lease obligations outstanding ($000) 30 38 30 29 27 37 35 33 31 29 26 24    
Proportions payable within one year:                    
 -Longterm debt/notes (as % total) ->> 25 25 25 25 50 50 50 50 50 50 50 50    
 -Leases (as % total) ->> 30 30 30 30 30 30 30 30 30 30 30 30    
                     
Working Capital                    
Accounts receivable (days sales) ->> 37 41 41 40 45 45 45 45 45 45 45 45    
Inventory (days sales) ->> 33 30 27 24 28 29 31 33 36 36 36 36    
Accounts payable (days costs & expenses) ->> 16 17 18 18 20 20 20 20 20 20 20 20    
                     
Level of prepaid expenses ($000) ->> 15 13 13 13 13 8 8 8 8 12 12 12 12    
Level of accrued expenses ($000) ->> 6 2 2 2 2 5 5 5 5 9 9 9 9    
                     
Sales Tax                    
Effective Sales Tax rate for sales (%) ->> 6.0 6.0 6.0 6.1 6.0 6.0 6.0 6.0 6.0 6.0 6.0 6.0    
Effective Sales Tax rate on inputs (%) ->>          
                                       
 
Supplementary Data & Calculations: