Finnews Q5

7/27/2019 Finnews Q5

1/48


2/48

Warehousing Costs 1,527

Total Direct Costs 5,497,650

Direct Labor 3,772,650

689,087

Plant

Depreciation: Mach. and Equip.

1,874,500

2,772,934

Production Costs ( 115,000 at 71.92 )

Other Overhead Costs 207,820

Goods Available for Sale ( 71.76 per unit )

Total Indirect Costs

Less: Ending Inventory ( 1,527 units )

Cost of Goods Sold

Gross Profit

Total Financial Charges

Penalty Loan Interest

0

Selling and administrative expenses

Short Term Bank Interest

0

Financial Expenses:

Intermediate Term Loan Interest 9,718

0Bond Redemption Costs

25,200Bond Interest

Operating Income Before Extraordinary Items

Extraordinary Items

Income Before Taxes


3/48

200,000

Preferred Stock Dividind

Income After Taxes

Short Term Loans Payable

Net Income Transferred to Retained Earnings

10,194,232

Fixed Assets ( net of depreciation

Quarter Number 4

ASSETS

Common Stock Dividends ( 0.00 per share )

Accounts Receivable

Total Current Assets

Cash 1,200,718

Marketable Securities

17,760,082

Earnings to Common Stockholders

Position Statement

Current Assets

8,683,937

Plant 14,180,750

Total Fixed Assets

109,579

Machinery and Equipment 3,579,332

Inventory ( 1,527 units at 71.76 /UNIT )

LIABILITIES AND OWNER EQUITY

27,954,314

Current Liabilities

Accounts Payable 570,547

Total Assets

0


4/48

Total Current Liabilities

Intermediate Term Debt Maturing

Total Liabilities 2,070,547

Common Stock ( 1,280,000 shares )

Owners' Equity

Preferred Stock ( 0 shares ) 0

1,200,000

Short Term Penalty Loan 0

Bonds Maturing

300,000Bonds

300,000Total Long Term Liabilities

Long Term Liabilities

0

3 years 0

Intermediate Loans: 2 years

0

1,770,547

HISTORICAL INFORMATION

Retained Earnings

18,177,460

Quarter Number 4

27,954,314

Common share price 89.24

Summary Data

Accumulated Wealth

Total Liabilities and Equity

25,883,768Total Equity

7,706,307

Quarterly EPS 1.39 Dividend Yield

Actual unit price 107.59 Actual unit demand

Marketable Security YieldPrice earnings ratio 16.03


5/48

Bond call premium

Preferred dividend yield

Return on equity

Call premium: preferred 8.00%

Preferred stock price 46.23

Return on investment 25.49%

0

6

INFORMATION FOR FUTURE QUARTERS:

Unpaid preferred dividend/shareCommon tender or sell/sh

3.11% 2.50%

Outstanding debt yields:

Short-term

1.80%

3-year loan-year loan

Units forecast

5

Price per unit forecast 106.01

118,314 105,233

120,000 90,000

97.71

Units of plant capacity

Units of machine capacity 112,000 112,000

Principal repayment on debt:

Depreciation: Machinery 646,250 646,250

1,563,500 1,242,000

207,820Other overhead 207,820

Projects 44,712

Short-term 0 0

2-year 0 0

300,000 300,000

44,712

Plant

Bonds

3-year 0 0

Warehouse fees:


6/48

Cost/Unit

Production costs per unit next quarter:

Next 40,000

Materials 15 Machinery

1

Rates on funding in quarter 5

Short-term 2-year loan 3-year loan

21,000

2.06% 1.83%

Interest due next quarter:

Short-term 0

Intermediate 0

1.61%

Labor cost 38.11 28.11

Units First 60,000

Capital budgeting projects for next quarter:

Life Cost

Bonds

B 3-yr 622,392

A 2-yr 600,696


7/48

Risk of S-T inv 0

Sales discount 0.00%

100

0 Advertising co

Per unit price

0

0

Preferred shar

Project B

Units of plant b

yes

0

0

Common shar

12,961,100

Dollar penalty

Common tend

1,139,996

0

2,403 12,963,503


8/48

8,270,584

9,410,579

3,662,502

9,301,000

109,579

34,918

1,648,055

1,979,529

1,682,973

0

1,979,529


9/48

,

1,781,577

0

1,781,577

0

1,781,577


10/48

89.35

0.00%

1.20%

119,774


11/48

27.53%

8.00%

2.16%

7

0

1.40%

Penalty loan

8.00%

Bonds

106.42

90,000 65,000

99.02

8

106,702 102,614

57,000

357,500 357,500

1,242,000 888,250

207,820 207,820

44,712 44,712

57,000

0

0

00

300,000

300,000

0


12/48

299Plant

8

Next 20,000

44

3

Over 120,000

Bond Preferred

1.17%

24.11 33

Unit Labor sav., Qtr.5 Change/Qtr. Labor Sav.

2.47%

Unit Capacity verhead Savin

1.03 -0.01

11,278 0.74 0

-8,254120,000

100,000


13/48

Units to be produced 115,000 Per unit priceDiv. per common share -$ Advertising costDemand/price forecast -$ Sales discount

Short-term investment -$ Risk of S-T investmentMachine units bought 12,000 Units of plant boughtProject A no Project B

Short-term loans -$ Preferred sharesTwo-year loans (1,250,000)$ Common sharesThree-year loans -$ Common tender priceTen-year bonds -$

Strike settlement (per hr.) -$ Dollar penaltySpecial Options

Decision Inputs for Quarter Number 4

Company Operating Decisions

Investment Decisions

Financing Decisions


14/48

100.00$-$0%

00

yes

-$-$-$

-$


15/48

Sales revenue ( 129,611 units at 100.00 ) 12,961,100$Income from securities 2,404$

Cost of Goods Sold:Beginning Inventory: ( 16,138 at 70.64 ) 1,139,996$Materials 1,725,000$Direct Labor 3,772,650$

Total Direct Costs 5,497,650$Warehousing Costs 1,527$Depreciation: Mach. and Equip. 689,087$

Plant 1,874,500$Other Overhead Costs 207,820$

Total Indirect Costs 2,772,934$Production Costs ( 115,000 at 71.92 ) 8,270,584$Goods Available for Sale ( 71.76 per unit ) 9,410,580$Less: Ending Inventory ( 1,527 units ) 109,579$

Cost of Goods SoldGross ProfitSelling and administrative expensesOperating Income Before Interest and Taxes (EBIT)Financial Expenses:Short Term Bank Interest -$Penalty Loan Interest -$Intermediate Term Loan Interest 9,718$

Bond Interest 25,200$Bond Redemption Costs -$

Total Financial ChargesOperating Income Before Extraordinary ItemsExtraordinary ItemsIncome Before TaxesIncome Tax (rate is 10%)Income After TaxesPreferred Stock Dividind

Earnings to Common StockholdersCommon Stock Dividends ( 0.00 per share )Net Income Transferred to Retained Earnings

ASSETSCurrent Assets

Quarterly Performance Report

Quarter Number 4

Position Statement

Quarter Number 4


16/48


17/48

12,963,504$

9,301,000$3,662,504$1,648,055$2,014,449$

34,918$1,979,531$

-$1,979,531$

791,812$1,187,719$

-$1,187,719$

-$1,187,719$


18/48

HISTORICAL INFORMATIONCommon share price 89.24$

Quarterly EPS 1.39$Price earnings ratio 16.03Actual unit price 107.59$Preferred stock price 46.23$Return on investment 25.490%Call premium: preferred 8.000%Common tender or sell/sh -$Outstanding debt yields:

Short-term 2-year loan 3-year loan1.803% 3.110% 2.500%

5 6Units forecast 118,314 105,233Price per unit forecast 106.01$ 97.71$Units of plant capacity 120,000 90,000Units of machine capacity 112,000 112,000Other overhead 207,820$ 207,820$Depreciation: Machinery 646,250$ 646,250$

Projects 44,712$ 44,712$Plant 1,563,500$ 1,242,000$

Principal repayment on debt:Short-term -$ -$2-year -$ -$3-year -$ -$Bonds 300,000$ 300,000$Warehouse fees:

Units First 2000Cost/Unit 1.00$


Materials 15.00$ MachineryUnits First 60,000 Next 40,000Labor cost 38.11$ 28.11$

Rates on funding in quarter 5Short-term 2-year loan 3-year loan

2.055% 1.834% 1.614%Interest due next quarter:

Short-term -$Intermediate -$

Summary Data

Quarter Number 4

INFORMATION FOR FUTURE Q


19/48

Bonds 21,000$Capital budgeting projects for next quarter:

Life CostA 2-yr 600,696$B 3-yr 622,392$

0 to 60,00060,000 to 100,000

100,000 to 120,000120,000 and up

0 to 2,0002000 to 7,000

7,000 and up

Inventory Levels

Range of Production


20/48

Accumulated Wealth 89.35$

Dividend Yield 0.000%Marketable Security Yield 1.202%Actual unit demand 119774Preferred dividend yield 2.160%Return on equity 27.530%Bond call premium 8.000%Unpaid preferred dividend/share $0.00

Bonds Penalty loan1.400% 8.000%

7 8106,702 102,614

99.02$ 106.42$90,000 65,00057,000 57,000

207,820$ 207,820$357,500$ 357,500$

44,712$ 44,712$1,242,000$ 888,250$

-$ -$-$ -$-$ -$

300,000$ 300,000$

Next 5000 Over 70003.00$ 8.00$

44.00$ Plant Rs. 299.00Next 20,000 Over 120,00024.11$ 33.00$

Bond Preferred1.174% 2.465%

UARTERS:


21/48

Unit Capacity Overhead Saving Unit Labor sav., Qtr.5 Change/Qtr. Labor Sav.100,000 11,278.00$ 0.74$ -$120,000 (8,254.00)$ 1.03$ (0.01)$

Marginal Cost/Unit Direct Labor Cost38.11$ 4,382,650$28.11$ 3,832,650$24.11$ 3,772,650$33.00$ 3,728,200$

Marginal Cost/Unit Warehouse Cost1.00$ 16,838$3.00$ 46,515$8.00$ 95,706$

arehousing Cost Table

Direct Labor Cost Table


22/48

5 6 7 8Beg. Inv 16,228 16,838 11,165 25,689 Production 115,000 100,000 120,000 100,000 Est. Sales 114,390 105,674 105,476 102,614 Ending Inv 16,838 11,165 25,689 23,075

Over Prod Limit Over Prod Limit Over Prod Limit Over Prod Limit

PlantExisting 120,000 90,000 90,000 65,000 1st Addition - - 2nd Addition - Total 120,000 90,000 90,000 65,000

MachinesExisting 112,000 112,000 57,000 57,000 1st Addition - 20,000 20,000 2nd Addition - - 3rd Addition - Total 112,000 112,000 77,000 77,000

PlantUnits - - Cost -$ -$ -$ -$

MachineryUnits - - - Cost -$ -$ -$ -$

Total Cost -$ -$ -$ -$

4 Quarter 102,614 102,6143 Quarter 106,702 106,7022 Quarter 105,233 105,233

1 Quarter 118,314Exp. Sales 114,390 105,674 105,476 102,614

4 Quarter 106.42$ 106.42$3 Quarter 99.02$ 99.02$2 Quarter 97.71$ 97.71$1 Quarter 106.01$

Unit Price Forecasts

Production Plan for next 4 Quarters

Production Capacities

Purchases

Unit Sales Forecasts


23/48

Exp. Sales 103.52 98.10 101.24 106.42

Common Stock:Current Stock Price: 89.24$ Per Share Reciepts -$

# of Shares Outstanding: 1,200,000 Total Cash Inflow FromStock Issue: -$

Current Common StockCash Value 18,177,460.00$

Total SharesOutstanding AfterIssue Decision: 1,200,000

# of Shares Offered: -

Total Cash Value of Stock After IssueDecision: 18,177,460.00$

Issuing Stock


24/48

Assumptions for next quarter (Not part of the decision set)Next Quarter 5Units Sold (assumed) 114,390Price per unit (assumed) 100.00$

Return of marketable securities 1.33%

Units to be produced 115,000 Per unit priceDiv. per common share -$ Advertising costDemand/price forecast N/A Sales discount

Short-term investment -$ Risk of S-T investmentMachine units bought - Units of plant boughtProject A 0 Project B

Short-term loans -$ Preferred sharesTwo-year loans -$ Common sharesThree-year loans Common tender priceTen-year bonds

Strike settlement (per hr.) N/A Dollar penaltySpecial Options

Quarter Number 5Proforma Decisions for next quarter



Financing Decisions


25/48

$100.00N/A0%

0-

0

-$-$-$

N/A


26/48

Quarter Number: 5

Sales revenue 114,390 $100.00 11,438,970$Income from securities 2,656$

Cost of Goods Sold:Beginning Inventory: (units @ $ per unit) 16,228 6.75$ 109,579$Materials 1,725,000$Direct Labor 3,772,650$

Total Direct Costs 5,497,650$Warehousing Costs 95,706$Depreciation: Mach. and Equip. 690,962$

Plant 1,563,500$Other Overhead Costs 207,820$

Total Indirect Costs 2,557,988$Production Costs (units @ $ per unit) 115,000 70.05$ 8,055,638$Goods Available for Sale (units @ $ per unit) 131,228 62.22$ 8,165,217$Less: Ending Inventory 16,838 1,047,706$

Cost of Goods SoldGross ProfitSelling and administrative expensesEarnings before intrest and taxes (EBIT)Financial Expenses:Short Term Bank Interest -$Penalty Loan Interest 476,303$Intermediate Term Loan Interest -$

Bond Interest 21,000$Bond Redemption Costs -$

Total Financial ChargesOperating Income Before Extraordinary ItemsExtraordinary ItemsIncome Before TaxesIncome TaxIncome After TaxesPreferred Stock Dividends

Earnings to Common StockholdersCommon Stock Dividends 1,200,000 shares outstandingNet Income Transferred to Retained Earnings

Quarter Number: 5

ASSETSCurrent Assets

Proforma Quarterly Performance Report

Position Statement


27/48


28/48

11,441,626$

7,117,511$4,324,115$1,571,949$2,752,166$

penalty loan problem

497,303$2,254,863$

-$2,254,863$

225,486$2,029,377$

-$2,029,377$

-$2,029,377$


29/48

cash problem

short term penalty loan problem 6351455476,303$

debt schedule prob -5667559.9


30/48

Cash Inflows Cash sales (33% of Sales) 3,774,860$Accounts Receivable collected 8,683,937$Income from Marketable Securities 2,656$Extraordinary Gain -$Sales of Marketable Securities -$

Issuance of: Short-Term Loans -$ Penalty Loans -$ Two-Year Loans -$ Three-Year Loans -$ Long-Term Debt -$

Preferred Stock TBA Common Stock -$

Total Inflows 12,461,453$

Net Flow (total inflows total outflows) 4,466,842$Beginning Cash Balance 1,200,718$Ending Cash Balance 5,667,560$

Proforma CashQuarter Numb


31/48

Cash Outflows Production Cash Flows

Materials (90% cash) 1,552,500$ Direct Labor (90% cash) 3,395,385$ Warehousing Fees 95,706$

Other Overhead Charges (90% cash) 187,038$ Accounts Payable Payments 570,547$

Financial Expenses: Short-Term Loan Interest:

Bank -$ Shark Loan Inc. -$

Intermediate-Term Loan Interest -$ Bond Interest 21,000$

Bond Redemption Costs -$

Selling and Administrative Expenses 1,571,949$Machinery Purchased -$Capital Budgeting Projects Purchased TBAPlant Additions Purchased -$Extraordinary Loss -$Income Tax 225,486$Preferred Stock Dividends -$Common Stock Dividends -$Purchase of Marketable Securities -$Payments and Retirement of:

Short-Term Loans -$ Penalty Loans -$

Two-Year Loans -$ Three-Year Loans 300,000$ Debentures 75,000$ Preferred Stock TBA

Common Stock -$

Total Outflows 7,994,611$

udgeter 5


32/48

Principle Maturity DateNext QuarterleyRepayment Current Portion

Short-term Debt-$

Total -$ -$

2yr Debt-$ 9 -$ -$

Total -$ -$

3yr Debt

-$ 13 -$ -$600,000$ 4 300,000$ (300,000)$

-$ 18 -$ -$

Total 300,000$ (300,000)$

10yr Debt-$ 0 -$ -$

42 -$ -$300,000$ 10 75,000.00 300,000$

Total 75,000$ 300,000$

New DebtShort-term -$ 8 -$ -$2yr -$ 12 -$ -$3yr -$ 16 -$ -$10yr -$ 44 -$ -$

Debt RetirementShort-term -$ -$ -$2yr -$ -$ -$3yr -$ -$ -$10yr -$ -$ -$

Repayment Totals Proforma TotalsShort-term -$ -$ -$2yr -$ -$ -$3yr -$ 300,000$ (300,000)$10yr 450,000$ 75,000$ 300,000$

Details of Debt at beginning of Quarter Number 5

Change in Debt for Next Quarter


33/48

Iterest on New DebtDebt offering premium 0.00%Short-term -$2yr -$3yr -$

10yr -$


34/48


35/48


36/48


37/48

Market Value Equity/BV Debt 43.0997 0.6Sales/ Total Assets 1.8550 1

Z-Score 29.09


38/48

Sources Value Weight Before Tax After Tax WACC Short Term Debt -$ 0.00% 2.06% 1.23% 0.00%2yr Debt -$ 0.00% 1.83% 1.10% 0.00%3yr Debt -$ 0.00% 1.61% 0.97% 0.00%10yr Debt 450,000$ 0.50% 1.17% 0.70% 0.00%

Preferred -$ 0.00% 2.47% 2.47% 0.00% risk premCommon 89,240,000$ 99.50% 3.76% 3.76% 3.74%TOTAL 89,690,000$ 100% 3.74%

WACC= 3.74%

Weighted Average Cost of Capital


39/48

1.29%


40/48

Life of Proj CostProj A 2-yr 600,696$Proj B 3-yr 622,392$

Proj A Quarter 1 2 3 4

Sales -$ -$ -$ -$minus Var Cost (85,100)$ (74,000)$ (88,800)$ (74,000)$minus Fix Cost (11,278)$ (11,278)$ (11,278)$ (11,278)$minus Depreciation 75,087$ 75,087$ 75,087$ 75,087$

= Net Oper. Income 21,291$ 10,191$ 24,991$ 10,191$minus Taxes 2,129$ 1,019$ 2,499$ 1,019$

= Net Income 19,162$ 9,172$ 22,492$ 9,172$plus Depreciation 75,087$ 75,087$ 75,087$ 75,087$

= ATCF 94,249$ 84,259$ 97,579$ 84,259$

Proj B Quarter 1 2 3 4 Sales -$ -$ -$ -$

minus Var Cost (118,450)$ (102,000)$ (121,200)$ (100,000)$minus Fix Cost 8,254$ 8,254$ 8,254$ 8,254$minus Depreciation 51,866$ 51,866$ 51,866$ 51,866$

= Net Oper. Income 58,330$ 41,880$ 61,080$ 39,880$minus Taxes 5,833$ 4,188$ 6,108$ 3,988$

= Net Income 52,497$ 37,692$ 54,972$ 35,892$plus Depreciation 51,866$ 51,866$ 51,866$ 51,866$

= ATCF 104,363$ 89,558$ 106,838$ 87,758$

Quarter Project A Project B0 (600,696)$ (622,392)$ Project A NO1 94,249$ 104,363$ Prroject B YES2 84,259$ 89,558$3 97,579$ 106,838$4 84,259$ 87,758$5 84,259$ 86,858$6 84,259$ 85,958$7 84,259$ 85,058$8 84,259$ 84,158$9 83,258$

10 82,358$11 81,458$12 80,558$

NPV (5,718)$ 225,745$IRR 3.51% 11.73%

NPV Analysis

Project Recommendation


41/48

5 6 7 8

-$ -$ -$ -$(74,000)$ (74,000)$ (74,000)$ (74,000)$(11,278)$ (11,278)$ (11,278)$ (11,278)$75,087$ 75,087$ 75,087$ 75,087$10,191$ 10,191$ 10,191$ 10,191$

1,019$ 1,019$ 1,019$ 1,019$9,172$ 9,172$ 9,172$ 9,172$

75,087$ 75,087$ 75,087$ 75,087$84,259$ 84,259$ 84,259$ 84,259$

5 6 7 8 9 10-$ -$ -$ -$ -$ -$

(99,000)$ (98,000)$ (97,000)$ (96,000)$ (95,000)$ (94,000)$8,254$ 8,254$ 8,254$ 8,254$ 8,254$ 8,254$

51,866$ 51,866$ 51,866$ 51,866$ 51,866$ 51,866$38,880$ 37,880$ 36,880$ 35,880$ 34,880$ 33,880$

3,888$ 3,788$ 3,688$ 3,588$ 3,488$ 3,388$34,992$ 34,092$ 33,192$ 32,292$ 31,392$ 30,492$51,866$ 51,866$ 51,866$ 51,866$ 51,866$ 51,866$86,858$ 85,958$ 85,058$ 84,158$ 83,258$ 82,358$


42/48

11 12-$ -$

(93,000)$ (92,000)$8,254$ 8,254$

51,866$ 51,866$32,880$ 31,880$

3,288$ 3,188$29,592$ 28,692$51,866$ 51,866$81,458$ 80,558$


43/48

Results for company name: FIN-NEWS

Special Options

$0

Quarter Number 1

$733,567

0

no

Financing Decisions

0

0

$0


Short-term $200,000 Risk of S-T 0

Three-year $0 Common t

Project A no Project B

Machine u

Demand/pr $0 Sales disc 0.00%

Div. per co $0.10 Advertising $0

Decision Inputs for Quarter Number 1


Units to be 100,000 Per unit pri $100.00

Direct La 3,500,000

Beginning

Material 1,500,000

Income fro 2,655 9,740,955

Cost of Go

Quarterly Performance Report

Sales reve 9,738,300

Strike settl $0.00 Dollar pen

0 Units of pla

Ten-year b $0

Short-term $0 Preferred s

Two-year l 2,500,000 Common s


44/48

Preferred 0

Income Ta 123,508

Income Aft 1,111,575

Extraordin 0

Income Bef 1,235,083

126,349 1,613,264

Operating I 1,235,083

Bond Red 0

Total Finan

1,486,915

Intermedi 92,749

Bond Inte 33,600

879,492

6,892,608

2,848,347

7,038,533

Goods Av 7,772,100

Total I 2,038,533

Other O 200,000

Deprecia 478,125

Penalty L 0

Short Ter $0

Financial E

Selling and

Less: End

Cost of Go

Gross Profi

Productio

1,300,000

Wareho $60,408

, ,


45/48

Total 3,570,000

Short Te 0

Intermed 1,850,000

Bonds M 1,200,000

LIABILITIE

Current Lia

Account $520,000

Short Te 0

Plant 7,165,250

Total 9,173,375

Tot 7,268,647

Total 8,095,272

Fixed Asse

Machine 2,008,125

Marketa 200,000

Account 6,524,661

Inventor 879,492

Position Statement

Quarter Number 1

ASSETS

Current As

Cash $491,120

Common S 100,000

Net Income 1,011,575

, ,


46/48

Outstanding debt yields:

Shor t- te rm 2-ye ar loa n3-ye a r loa n B onds Pe na lty loa n

Call premiu 8.00% Bond call p 8.00%

Common t $0.00 Unpaid pre $0.00

Preferred s $32.15 Preferred d 3.11%

Return on i 25.75% Return on 38.46%

Price earni 9.78 Marketable 1.33%

Actual unit $100.00 Actual unit 97,383

HISTORIC

Common s $43.47 Accumulat $43.57

Quarterly E $1.11 D ividend Yi 0.93%

########

Tot 7,268,647

Summary Data

Quarter Number 1

Commo 8,000,000

Retained 3,561,147

Total Equit

2,137,500

Tot 5,707,500

Owners' E

Preferre $0

0

Bonds 1,200,000

Total

Intermed $937,500


47/48

Rates on funding in quarter 2

Short-term 2-year loan3-year loan Bond Preferred

Units First 60,000Next 40,00 Next 20,00 ver 120,00

Labor co $39.00 $29.00 $25.00 $33.00


Material $15.00 Machinery $41.00 Plant $281.00

Units First 2000 Next 5000 Over 7000

Cost/ $1.00 $3.00 $8.00

Bonds 300,000 300,000 300,000 300,000

Wareho

312,500

3-year 300,000 300,000 0 0

Short-ter 0 0 0

2-year 312,500 312,500 312,500

Pl 1,300,000 1,300,000 1,300,000 989,000

Principal repayment on debt:

Depreciatio 478,125 478,125 384,375 311,250

Pr 0 0 0 0

Units of ma 100,000 100,000 75,000 60,000

Other over 200,000 200,000 200,000 200,000

Price per u $100.37 $96.43 $110.60 $104.80

Units of pla 100,000 100,000 100,000 80,000

2 3 4 5

Units forec 101,378 90,174 124,132 111,898

2.98% 3.11% 2.50% 1.40% 8.00%

INFORMATION FOR FUTURE QUARTERS:


48/48

$0.02

B 3-yr $634,728 120,000 -$7,395 $1.05 $0.00

A 2-yr $437,664 100,000 $14,147 $0.54

Capital budgeting projects for next quarter:

Life Cost nit Capacit erhead SavLabor sav., e/Qtr. Labo

Short-ter$0

Intermed$83,030

Bonds $33,600

2.00% 1.95% 1.91% 1.84% 2.40%

Interest due next quart

Date post:	14-Apr-2018
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