Free Dash

JaxWorks Small Business Spreadsheet Factory
Since 1996, JaxWorks has offered a suite of Free Excel workbooks and spreadsheets, and associated MS Word, PDF and
HTML documents, that cover a number of financial, accounting and sales functions. These are invaluable small business
tools.
Also included Free are:
- Business plan tools, including spreadsheets and excellent instructions
- Excel functions glossary and guide;
- Free training courses for most Microsoft Office applications. These guides are in PDF format and rival
commercial books.
- Comprehensive list of acronyms, ratios and formulas in customer financial analysis, and financial terms;
- Suite of online calculators, including, breakeven analysis, productivity analysis, business evaluation;
- Altman Z-Score (covering publicly and privately held firms, and small businesses);
- and payroll analysis.
If you are involved in financial analysis at any level, or want to learn more about MS Excel and other applications in the
Office suite this site is invaluable.
Copyright, 2014, Jaxworks, All Rights Reserved.
Essentially, a dashboard report is a way to visually present critical data in summary form so that you can make quick
and effective decisions, in much the same way that a car dashboard works.
J-Dash uses charts and graphs to develop into a broad spectrum analysis of your firm's health. This is all done by
entering into the Master Data Entry worksheet numbers that are broadcasted throughout hundreds of cells.
The steps are simple:
1) Obtain 4 periods of financials (Years or Quarters)
2) Enter financial data into Master Data Entry worksheet
3) Perform What-if analyses (Optional)
4) Print, Email, and Present - Done
Start Year
Corporation Type (C or S)
2004
C
'C' Corporation format selected; income taxes WILL be computed
INCOME STATEMENT
Financials
2005
2006
2004
2007
Total
4 Periods
Sales
Sales
Cost of Goods Sold
$2,000,000
$945,000
$1,500,000
$865,000
$1,300,000
$833,000
$2,010,100
$946,616
$6,810,100
$3,589,616
$1,055,000
$635,000
$467,000
$1,063,484
$3,220,484
$424,000
$16,250
$32,500
$1,250
$50,000
$474,000
$318,000
$16,250
$33,958
$1,250
$51,458
$369,458
$275,600
$16,250
$33,958
$1,250
$51,458
$327,058
$426,141
$16,250
$33,958
$1,250
$51,458
$477,599
$1,443,741
$65,000
$134,374
$5,000
$204,374
$1,648,115
Operating income
$581,000
$265,542
$139,942
$585,885
$1,572,369
Subtotal
$100,000
$20,000
$120,000
$10,000
$50,000
$60,000
$3,000
$100,000
$103,000
$405,700
$200,000
$605,700
$518,700
$370,000
$888,700
Income before tax
$701,000
$325,542
$242,942
$1,191,585
$2,461,069
$210,300
$97,663
$72,883
$357,475
$738,321
$490,700
$227,879
$170,059
$834,109
$1,722,748
$1,400,000
$1,890,700
$2,118,579
$2,288,638
$1,400,000
$0
$0
$0
$50,000
$50,000
$1,890,700
$2,118,579
$2,288,638
$3,072,747
$3,072,748
Gross profit
Expenses
Operating expenses
Interest
Depreciation
Amortization
Subtotal (IDA)
Total expenses
Other income and expenses

Gain (loss) on sale of assets
Other (net)
Please enter a tax percentage

Taxes @
30%
Net income
Retained earnings-beginning
Dividends paid
Retained earnings-ending
BALANCE SHEET
Actual
2003
ASSETS
Current Assets
Cash and cash equivalents
Accounts receivable
Inventory
Other current assets
2004
Financials
2005
2006
2007
$451,000
$350,000
$400,000
$10,000
$1,211,000
$90,360
$657,534
$630,411
$60,000
$1,438,305
$289,233
$493,151
$590,959
$45,090
$1,418,433
$614,196
$427,397
$575,178
$76,320
$1,693,091
$1,454,008
$660,855
$631,208
$50,000
$2,796,071
Total Fixed Assets
$100,000
$1,500,000
$800,000
$2,400,000
$400,000
$2,000,000
$112,500
$1,450,000
$875,000
$2,437,500
$432,500
$2,005,000
$125,000
$1,450,000
$875,000
$2,450,000
$466,458
$1,983,542
$137,500
$1,450,000
$875,000
$2,462,500
$500,416
$1,962,084
$150,000
$1,450,000
$875,000
$2,475,000
$534,374
$1,940,626
Intangible Assets
Intangible Assets Cost
Less-accumulated amortization
Total Intangible Assets
$50,000
$20,000
$30,000
$50,000
$21,250
$28,750
$50,000
$22,500
$27,500
$50,000
$23,750
$26,250
$50,000
$25,000
$25,000
$25,000
$3,266,000
$33,000
$3,505,055
$120,000
$3,549,475
$5,000
$3,686,425
$23,000
$4,784,697
Total Current Assets

Fixed Assets
Land
Buildings
Equipment
Subtotal
Less-accumulated depreciation
Other assets
Total Assets
LIABILITIES AND
STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable
Notes payable
Current portion of long-term debt
Income taxes
Accrued expenses
Other current liabilities
Total Current Liabilities
Non-Current Liabilities
Long-term debt
Deferred income
Deferred income taxes
Other long-term liabilities
Non-Current Liabilities Totals
Total Liabilities
Stockholders' Equity
Capital stock issued
Additional paid in capital
Retained earnings
Total Liabilities and Equity
"C" Corporation (Y/N)
Cash balance positive or (negative)
Amount sheet is out-of-balance
Amount cash flow out-of-balance
Actual
2003
Forecast
2004
2005
2006
2007
$600,000
$100,000
$100,000
$30,000
$90,000
$16,000
$936,000
$328,767
$50,000
$100,000
$183,300
$83,288
$12,000
$757,355
$328,767
$50,000
$100,000
$70,663
$62,466
$12,000
$623,896
$328,767
$50,000
$100,000
$45,883
$54,137
$12,000
$590,787
$328,767
$50,000
$100,000
$330,475
$83,708
$12,000
$904,950
$600,000
$100,000
$30,000
$50,000
$780,000
$1,716,000
$500,000
$90,000
$27,000
$90,000
$707,000
$1,464,355
$500,000
$90,000
$27,000
$40,000
$657,000
$1,280,896
$500,000
$90,000
$27,000
$40,000
$657,000
$1,247,787
$500,000
$90,000
$27,000
$40,000
$657,000
$1,561,950
$100,000
$50,000
$1,400,000
$1,550,000
$100,000
$50,000
$1,890,700
$2,040,700
$100,000
$50,000
$2,118,579
$2,268,579
$100,000
$50,000
$2,288,638
$2,438,638
$100,000
$50,000
$3,072,747
$3,222,747
$3,266,000
$3,505,055
$3,549,475
$3,686,425
$4,784,697
Positive
$0
$0
Positive
$0
$0
Positive
$0
$0
Positive
$0
$0
Y
Positive
$0
Summary Dashboard
Sales
Cost of Goods Sold
$2,500,000
$960,000
$940,000
$2,000,000
$920,000
$1,500,000
$880,000
$900,000
$860,000
$1,000,000
$840,000
$820,000
$500,000
$800,000
$780,000
$0
$760,000
2004
2005
2006
2007
2004
2005
Gross profit
2006
2007
Total expenses
$1,200,000
$500,000
$450,000
$1,000,000
$400,000
$350,000
$800,000
$300,000
$600,000
$250,000
$200,000
$400,000
$150,000
$100,000
$200,000
$50,000
$0
$0
2004
2005
2006
2007
2004
2005
Income before tax
2006
2007
2006
2007
Net income
$1,200,000
$900,000
$800,000
$1,000,000
$700,000
$800,000
$600,000
$500,000
$600,000
$400,000
$400,000
$300,000
$200,000
$200,000
$100,000
$0
$0
2004
2005
2006
2007
2004
2005
Comparative Analysis 4 Years

Income Statement
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
Sales
2005
Cost of Goods Sold
2006
Gross Profit (Margin)
T otal Operating Expenses
2007
Earnings Before Inc.T axes
Net Income After T axes
Accounts receivable
$1,600,000
$700,000
$1,400,000
$600,000
$1,200,000
$500,000
$1,000,000
$400,000
$800,000
$300,000
$600,000
$200,000
$400,000
$100,000
$200,000
$0
$0
2004
2005
2006
2007
2004
2005
Inve ntory
2006
2007
$640,000
$80,000
$630,000
$70,000
$620,000
$60,000
$610,000
$50,000
$600,000
$590,000
$40,000
$580,000
$30,000
$570,000
$20,000
$560,000
$10,000
$550,000
$540,000
$0
2004
2005
2006
2007
2004
2005
2006
2007
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
Land
Buildings
$160,000
$1,600,000
$140,000
$1,400,000
$120,000
$1,200,000
$100,000
$1,000,000
$80,000
$800,000
$60,000
$600,000
$40,000
$400,000
$20,000
$200,000
$0
$0
2004
2005
2006
2004
2007
2005
Equipm ent
2006
2007
$900,000
$600,000
$800,000
$500,000
$700,000
$600,000
$400,000
$500,000
$300,000
$400,000
$300,000
$200,000
$200,000
$100,000
$100,000
$0
$0
2004
2005
2006
2007
2004
2005
2006
2007
Total Fixed Assets
$2,020,000
$2,000,000
$1,980,000
$1,960,000
$1,940,000
$1,920,000
$1,900,000
2004
2005
2006
2007
Intangible Assets Cost
$50,000
$25,000
$45,000
$24,000
$40,000
$35,000
$23,000
$30,000
$25,000
$22,000
$20,000
$21,000
$15,000
$10,000
$20,000
$5,000
$0
$19,000
2004
2005
2006
2007
2004
2005
2006
2007
2006
2007
Other assets
$29,000
$120,000
$28,000
$100,000
$80,000
$27,000
$26,000
$60,000
$25,000
$40,000
$24,000
$20,000
$23,000
$0
2004
2005
2006
2007
2004
2005
Total Assets
$ 5 ,0 00 ,0 0 0
$ 4 ,5 00 ,0 0 0
$ 4 ,0 00 ,0 0 0
$ 3 ,5 00 ,0 0 0
$ 3 ,0 00 ,0 0 0
$ 2 ,5 00 ,0 0 0
$ 2 ,0 00 ,0 0 0
$ 1 ,5 00 ,0 0 0
$ 1 ,0 00 ,0 0 0
$ 5 00 ,0 0 0
$0
2004
2 00 5
2006
2007
Accounts payable
Notes payable
$350,000
$50,000
$45,000
$300,000
$40,000
$250,000
$35,000
$30,000
$200,000
$25,000
$150,000
$20,000
$15,000
$100,000
$10,000
$50,000
$5,000
$0
$0
2004
2005
2006
2007
2004
2005
2006
2007
2006
2007
Incom e taxes
$350,000
$ 1 00 ,0 0 0
$ 90 ,0 0 0
$300,000
$ 80 ,0 0 0
$250,000
$ 70 ,0 0 0
$ 60 ,0 0 0
$200,000
$ 50 ,0 0 0
$150,000
$ 40 ,0 0 0
$ 30 ,0 0 0
$100,000
$ 20 ,0 0 0
$50,000
$ 10 ,0 0 0
$0
$0
2004
2005
2006
2004
2007
Accrued expenses
2005
$12,000
$ 9 0 ,0 0 0
$ 8 0 ,0 0 0
$10,000
$ 7 0 ,0 0 0
$8,000
$ 6 0 ,0 0 0
$ 5 0 ,0 0 0
$6,000
$ 4 0 ,0 0 0
$4,000
$ 3 0 ,0 0 0
$ 2 0 ,0 0 0
$2,000
$ 1 0 ,0 0 0
$0
$0
2004
2005
2006
2004
2007
2005
2006
2007
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
2004
2005
2006
2007
Deferred incom e
Long-term debt
$ 5 0 0,0 0 0
$90,000
$ 4 5 0,0 0 0
$80,000
$ 4 0 0,0 0 0
$70,000
$ 3 5 0,0 0 0
$60,000
$ 3 0 0,0 0 0
$50,000
$ 2 5 0,0 0 0
$40,000
$ 2 0 0,0 0 0
$30,000
$ 1 5 0,0 0 0
$20,000
$ 1 0 0,0 0 0
$10,000
$ 5 0 ,0 0 0
$0
$0
2004
2005
2006
2004
2007
2005
2006
2007
Deferred incom e taxes
$90,000
$3 0 ,0 0 0
$80,000
$2 5 ,0 0 0
$70,000
$60,000
$2 0 ,0 0 0
$50,000
$1 5 ,0 0 0
$40,000
$30,000
$1 0 ,0 0 0
$20,000
$ 5 ,0 0 0
$10,000
$0
$0
2004
2005
2006
2004
2007
2005
2006
2007
Total Liabilities
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2004
2005
2006
2007
$ 10 0 ,0 0 0
$50,000
$9 0 ,0 0 0
$45,000
$40,000
$8 0 ,0 0 0
$35,000
$7 0 ,0 0 0
$6 0 ,0 0 0
$30,000
$25,000
$5 0 ,0 0 0
$20,000
$4 0 ,0 0 0
$15,000
$3 0 ,0 0 0
$10,000
$2 0 ,0 0 0
$5,000
$1 0 ,0 0 0
$0
$0
2004
2005
2006
2004
2007
2005
Retained earnings
2006
2007
$3,500,000
$3 ,5 0 0 ,0 0 0
$3,000,000
$3 ,0 0 0 ,0 0 0
$2,500,000
$2 ,5 0 0 ,0 0 0
$2,000,000
$2 ,0 0 0 ,0 0 0
$1,500,000
$1 ,5 0 0 ,0 0 0
$1,000,000
$1 ,0 0 0 ,0 0 0
$500,000
$ 5 0 0 ,0 0 0
$0
$0
2004
2 0 05
2006
2004
2007
2005
2006
2007
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007

Balance Sheet
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
T otal Current Assets
2005
T otal Fixed Assets
T otal Assets
2006
T otal Current Liabilities
Total Liabilities
2007
T otal Liabilities and Equity
Cash Flow Statement

Actual
2003
Cash from operations
Net earnings (loss)
Add-depreciation and amortization
2004
Financials
2005
2006
2007
$490,700
$33,750
$227,879
$35,208
$170,059
$35,208
$834,109
$35,208
$1,722,748
$139,374
$524,450
$263,087
$205,267
$869,317
$1,862,121
($307,534)
($230,411)
($50,000)
($8,000)
($271,233)
$0
$153,300
($6,712)
($4,000)
$0
$164,383
$39,452
$14,910
($87,000)
$0
$0
($112,637)
($20,822)
$0
$0
$65,754
$15,781
($31,230)
$115,000
$0
$0
($24,780)
($8,329)
$0
$0
($233,458)
($56,030)
$26,320
($18,000)
$0
$0
$284,592
$29,571
$0
($50,000)
($310,855)
($231,208)
($40,000)
$2,000
($271,233)
$0
$300,475
($6,292)
($4,000)
($50,000)
($724,590)
($1,714)
$132,196
($17,005)
($611,113)
$12,500
($50,000)
$75,000
$0
$12,500
$0
$0
$0
$12,500
$0
$0
$0
$12,500
$0
$0
$0
$50,000
($50,000)
$75,000
$0
$37,500
$12,500
$12,500
$12,500
$75,000
($50,000)
($100,000)
($10,000)
($3,000)
$40,000
$0
$0
$0
$0
$0
($50,000)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($50,000)
($100,000)
($10,000)
($3,000)
($10,000)
$0
Net cash from financing
($123,000)
($50,000)
$0
$0
($173,000)
Net increase (decrease) in cash
($360,640)
$198,873
$324,963
$839,812
$1,003,008
Cash at beginning of period
$451,000
$90,360
$289,233
$614,196
$451,000
Cash at the end of period
$90,360
$289,233
$614,196
$1,454,008
$1,454,008
Net cash from operations

Cash provided (used) by
operating activities
Accounts Receivable
Inventory
Other non-current assets
Accounts payable
Income taxes
Accrued expenses
Dividends paid
Net cash provided (used) by operations
Investment transactions
Increases (decreases)
Land
Buildings and improvements
Equipment
Intangible assets
Net cash from investments
Financing transactions
Short term notes payable
Long term debt
Deferred income
Capital stock and paid in capital
Cash Flow
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2003
2004
2005
2006
2007
CASH FLOW STATEMENT 8 YEARS

2004
1
$490,700
$33,750
Projected
2005
2006
2
3
$227,879
$170,059
$35,208
$35,208
2007
4
$834,109
$35,208
2008
5
$673,789
$35,937
Forecasted
2009
2010
6
7
$771,030
$868,271
$36,374
$36,812
$524,450
$263,087
$205,267
$869,317
$709,726
$807,404
$905,082
$1,002,760
($307,534)
($230,411)
($50,000)
($8,000)
($271,233)
$0
$153,300
($6,712)
($4,000)
$0
$164,383
$39,452
$14,910
($87,000)
$0
$0
($112,637)
($20,822)
$0
$0
$65,754
$15,781
($31,230)
$115,000
$0
$0
($24,780)
($8,329)
$0
$0
($233,458)
($56,030)
$26,320
($18,000)
$0
$0
$284,592
$29,571
$0
($50,000)
($46,814)
$67,066
$35,705
$43,500
$135,617
$0
$195,552
$28,763
$2,000
($50,000)
($34,454)
$117,013
$53,987
$60,700
$216,986
$0
$243,725
$40,897
$3,200
($65,000)
($22,094)
$166,960
$72,269
$77,900
$298,356
$0
$291,899
$53,031
$4,400
($80,000)
($9,734)
$216,908
$90,551
$95,100
$379,726
$0
$340,072
$65,165
$5,600
($95,000)
($724,590)
($1,714)
$132,196
($17,005)
$411,388
$637,055
$862,721
$1,088,388
$12,500
($50,000)
$75,000
$0
$12,500
$0
$0
$0
$12,500
$0
$0
$0
$12,500
$0
$0
$0
$12,500
$25,000
($37,500)
$0
$12,500
$40,000
($60,000)
$0
$12,500
$55,000
($82,500)
$0
$12,500
$70,000
($105,000)
$0
$37,500
$12,500
$12,500
$12,500
$0
($7,500)
($15,000)
($22,500)
($50,000)
($100,000)
($10,000)
($3,000)
$40,000
$0
$0
$0
$0
$0
($50,000)
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$25,000
$50,000
$5,000
$1,500
($20,000)
$0
$40,000
$80,000
$8,000
$2,400
($27,000)
$0
$55,000
$110,000
$11,000
$3,300
($34,000)
$0
$70,000
$140,000
$14,000
$4,200
($41,000)
$0
Net cash from financing
($123,000)
($50,000)
$0
$0
$61,500
$103,400
$145,300
$187,200
Net increase (decrease) in cash
($360,640)
$198,873
$324,963
$839,812
$1,182,614
$1,555,358
$1,928,103
$2,300,847
Cash at beginning of period
$451,000
$90,360
$289,233
$614,196
$533,313
$602,159
$671,005
$739,851
Cash at the end of period
$90,360
$289,233
$614,196
$1,454,008
$1,715,926
$2,157,517
$2,599,107
$3,040,698
Cash from operations

Net earnings (loss)
Add-depreciation and amortization
Net cash from operations
Cash provided (used) by
operating activities
Accounts Receivable
Inventory
Other non-current assets
Accounts payable
Income taxes
Accrued expenses
Dividends paid
Net cash Consumed or Generated
Investment transactions
Land
Buildings and improvements
Equipment
Intangible assets
Net cash from investments
Financing transactions
Short term notes payable
Long term debt
Deferred income
Capital stock and paid in capital
Cash Flow 8 Years
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2011
8
$965,511
$37,249
Balance Sheet
Projected
2004
ASSETS
Current Assets
Accounts receivable
Inventory
2005
2006
2007
$90,360
$657,534
$630,411
$60,000
$1,438,305
$289,233
$493,151
$590,959
$45,090
$1,418,433
$614,196
$427,397
$575,178
$76,320
$1,693,091
$1,454,008
$660,855
$631,208
$50,000
$2,796,071
Total Fixed Assets
$112,500
$1,450,000
$875,000
$2,437,500
$432,500
$2,005,000
$125,000
$1,450,000
$875,000
$2,450,000
$466,458
$1,983,542
$137,500
$1,450,000
$875,000
$2,462,500
$500,416
$1,962,084
$150,000
$1,450,000
$875,000
$2,475,000
$534,374
$1,940,626
$50,000
$21,250
$28,750
$50,000
$22,500
$27,500
$50,000
$23,750
$26,250
$50,000
$25,000
$25,000
Total Assets
$33,000
$3,505,055
$120,000
$3,549,475
$5,000
$3,686,425
$23,000
$4,784,697

Fixed Assets
Land
Buildings
Equipment
Subtotal
Intangible Assets
Cost
Other assets
Projected
LIABILITIES AND
Current Liabilities
Accounts payable
Notes payable
Income taxes
Accrued expenses
2004
2005
2006
2007
$328,767
$50,000
$100,000
$183,300
$83,288
$12,000
$757,355
$328,767
$50,000
$100,000
$70,663
$62,466
$12,000
$623,896
$328,767
$50,000
$100,000
$45,883
$54,137
$12,000
$590,787
$328,767
$50,000
$100,000
$330,475
$83,708
$12,000
$904,950
$500,000
$90,000
$27,000
$90,000
$707,000
$1,464,355
$500,000
$90,000
$27,000
$40,000
$657,000
$1,280,896
$500,000
$90,000
$27,000
$40,000
$657,000
$1,247,787
$500,000
$90,000
$27,000
$40,000
$657,000
$1,561,950
Stockholders Equity
$100,000
$50,000
$1,890,700
$2,040,700
$100,000
$50,000
$2,118,579
$2,268,579
$100,000
$50,000
$2,288,638
$2,438,638
$100,000
$50,000
$3,072,747
$3,222,747
$3,505,055
$3,549,475
$3,686,425
$4,784,697

Long-term debt
Deferred income
Subtotal
Total Liabilities
Retained earnings
Assets
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
2006
2007
Liabilities
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
Assets vs. Liabilities
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
Balance Sheet 8 Years

Projected
2004
1
ASSETS
Current Assets
Accounts receivable
Inventory
2005
2
Forecasted
2006
3
2007
4
2008
5
2009
6
2010
7
2011
8
$90,360
$657,534
$630,411
$60,000
$1,438,305
$289,233
$493,151
$590,959
$45,090
$1,418,433
$614,196
$427,397
$575,178
$76,320
$1,693,091
$1,454,008
$660,855
$631,208
$50,000
$2,796,071
$1,715,926
$545,787
$603,592
$58,160
$2,923,464
$2,157,517
$540,207
$602,253
$58,283
$3,358,260
$2,599,107
$534,628
$600,914
$58,406
$3,793,055
$3,040,698
$529,049
$599,575
$58,529
$4,227,851
Total Fixed Assets
$112,500
$1,450,000
$875,000
$2,437,500
$432,500
$2,005,000
$125,000
$1,450,000
$875,000
$2,450,000
$466,458
$1,983,542
$137,500
$1,450,000
$875,000
$2,462,500
$500,416
$1,962,084
$150,000
$1,450,000
$875,000
$2,475,000
$534,374
$1,940,626
$162,500
$1,450,000
$875,000
$2,487,500
$568,332
$1,919,168
$175,000
$1,450,000
$875,000
$2,500,000
$602,290
$1,897,710
$187,500
$1,450,000
$875,000
$2,512,500
$636,248
$1,876,252
$200,000
$1,450,000
$875,000
$2,525,000
$670,206
$1,854,794
$50,000
$21,250
$28,750
$50,000
$22,500
$27,500
$50,000
$23,750
$26,250
$50,000
$25,000
$25,000
$50,000
$26,250
$23,750
$50,000
$27,500
$22,500
$50,000
$28,750
$21,250
$50,000
$30,000
$20,000
Total Assets
$33,000
$3,505,055
$120,000
$3,549,475
$5,000
$3,686,425
$23,000
$4,784,697
$9,000
$4,875,382
($5,500)
$5,272,970
($20,000)
$5,670,557
($34,500)
$6,068,145

Fixed Assets
Land
Buildings
Equipment
Subtotal
Intangible Assets
Cost
Other assets
Projected
LIABILITIES AND
Current Liabilities
Accounts payable
Notes payable
Income taxes
Accrued expenses
2004
2005
2006
2007
Period 5
Forecasted
Period 6
Period 7
Period 8
$328,767
$50,000
$100,000
$183,300
$83,288
$12,000
$757,355
$328,767
$50,000
$100,000
$70,663
$62,466
$12,000
$623,896
$328,767
$50,000
$100,000
$45,883
$54,137
$12,000
$590,787
$328,767
$50,000
$100,000
$330,475
$83,708
$12,000
$904,950
$328,767
$50,000
$100,000
$261,767
$69,133
$12,000
$821,666
$328,767
$50,000
$100,000
$303,441
$68,426
$12,000
$862,634
$328,767
$50,000
$100,000
$345,116
$67,719
$12,000
$903,601
$328,767
$50,000
$100,000
$386,790
$67,012
$12,000
$944,569
$500,000
$90,000
$27,000
$90,000
$707,000
$1,464,355
$500,000
$90,000
$27,000
$40,000
$657,000
$1,280,896
$500,000
$90,000
$27,000
$40,000
$657,000
$1,247,787
$500,000
$90,000
$27,000
$40,000
$657,000
$1,561,950
$500,000
$90,000
$27,000
$15,000
$632,000
$1,453,666
$500,000
$90,000
$27,000
$0
$617,000
$1,479,634
$500,000
$90,000
$27,000
($15,000)
$602,000
$1,505,601
$500,000
$90,000
$27,000
($30,000)
$587,000
$1,531,569
Stockholders Equity
$100,000
$50,000
$1,890,700
$2,040,700
$100,000
$50,000
$2,118,579
$2,268,579
$100,000
$50,000
$2,288,638
$2,438,638
$100,000
$50,000
$3,072,747
$3,222,747
$100,000
$50,000
$3,271,716
$3,421,716
$100,000
$50,000
$3,643,336
$3,793,336
$100,000
$50,000
$4,014,956
$4,164,956
$100,000
$50,000
$4,386,576
$4,536,576
$3,505,055
$3,549,475
$3,686,425
$4,784,697
$4,875,382
$5,272,970
$5,670,557
$6,068,145

Long-term debt
Deferred income
Subtotal
Total Liabilities
Retained earnings
Assets
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2008
2009
2010
2011
Liabilities
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
Assets vs. Liabilities

$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
Financial Operations
Current Assets
Fixed Assets
Total Assets
Current Liabilities
Non-current Liab.
Total Liabilities
Equity
Liabilities and Equity
What-if Trial Projections
Projected
2004
2005
2006
2007
2004
2005
2006
2007
1,438,305
1,418,433
1,693,091
2,796,071
1,438,305
1,418,433
1,693,091
2,796,071
2,005,000
1,983,542
1,962,084
1,940,626
2,005,000
1,983,542
1,962,084
1,940,626
3,505,055
3,549,475
3,686,425
4,784,697
3,505,055
3,549,475
3,686,425
4,784,697
757,355
623,896
590,787
904,950
757,355
623,896
590,787
904,950
707,000
657,000
657,000
657,000
707,000
657,000
657,000
657,000
1,464,355
1,280,896
1,247,787
1,561,950
1,464,355
1,280,896
1,247,787
1,561,950
2,040,700
2,268,579
2,438,638
3,222,747
2,040,700
2,268,579
2,438,638
3,222,747
3,505,055
3,549,475
3,686,425
4,784,697
3,505,055
3,549,475
3,686,425
4,784,697
Projected
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
2004
Current Assets
Fixed Assets
T otal Assets
2005
Current Liabilities
2006
Non-c urrent Liab.
T otal Liabilities
2007
Equity

5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
2004
Current Assets
Fixed Assets
T otal Assets
2005
Current Liabilities
2006
Non-c urrent Liab.
T otal Liabilities
2007
Equity
Reset
Balance Sheet Charts

Total Fixed Assets
Total Assets
Total Liabilities
$1,438,305
$2,005,000
$3,505,055
$757,355
$1,464,355
$3,505,055
$1,418,433
$1,983,542
$3,549,475
$623,896
$1,280,896
$3,549,475
$1,693,091
$1,962,084
$3,686,425
$590,787
$1,247,787
$3,686,425
$5,000,000
$2,796,071
$1,940,626
$4,784,697
$904,950
$1,561,950
$4,784,697
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
2004
2005
Total Fixed Assets
2006
Total Assets
2007
Total Liabilities
Total Assets
Total Assets
Total CA
2007
2007
2006
2006
2005
2005
2004
2004
Total Assets
2004
Fixed Assets
2007
2007
2006
2006
2005
2005
2004
2004
Total Assets Projected
Total Assets
2011
2006
2010
2005
2009
2004
2008
2007
2006
2006
2005
2005
2004
2004
2004
Total Liabilities & Equity

2007
2006
2006
2005
2005
2004
2004
2004

2011
2006
2010
2005
2009
2004
2008
2007 2004
2005
2005
2005
2004
2005
2006
2007
2005
2006
2007
Total Assets Projected
2006
2007 2008
2006
2006
2006
2009
2010
2011
Current Liabilities
2007 2004
2005
2006
2007
Total Liabilities
20072004
Total Liabilities & Equity Projected
2007
2006
Total Liabilities
2007
2005
2005
Fixed Assets
Current Liabilities
2007
2007 2004
Total Assets
2004
2006
Total Assets
2004
2007
2005
Total CA
2005
2006
2007
Total Liabilities & Equity Projected
20072008
2009
2010
2011
Current Assets
Current Assets Projection
1ST QTR
$1,438,305
2ND QTR
$1,418,433
$4,000,000
3RD QTR
$1,693,091
$3,500,000
4TH QTR
$2,796,071
5TH QTR
$2,923,464
$2,000,000
6TH QTR
$3,358,260
$1,500,000
7TH QTR
$3,793,055
8TH QTR
$4,227,851
$4,500,000
$3,000,000
$2,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2009
2010
2011
2008
2009
2010
2011
2008
2009
2010
2011
2009
2010
2011
Inventory
Inventory Projection
1ST QTR
$630,411
2ND QTR
$590,959
3RD QTR
$575,178
4TH QTR
$631,208
5TH QTR
$603,592
6TH QTR
$602,253
7TH QTR
$600,914
8TH QTR
$599,575
$640,000
$630,000
$620,000
$610,000
$600,000
$590,000
$580,000
$570,000
$560,000
$550,000
$540,000
2004
2005
2006
2007
2008
Total Assets
Total Assets Projection
1ST QTR
$3,505,055
2ND QTR
$3,549,475
3RD QTR
$3,686,425
4TH QTR
$4,784,697
$4,000,000
5TH QTR
$4,875,382
$3,000,000
6TH QTR
$5,272,970
$2,000,000
7TH QTR
$5,670,557
$1,000,000
8TH QTR
$6,068,145
$0
$7,000,000
$6,000,000
$5,000,000
2004
2005
2006
2007
Current Liabilities
Current Liabilities Projection
1ST QTR
$757,355
2ND QTR
$623,896
3RD QTR
$590,787
4TH QTR
$904,950
5TH QTR
$821,666
6TH QTR
$862,634
7TH QTR
$903,601
8TH QTR
$944,569
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
2004
2005
2006
2007
Non-current Liabilities
Non-current Liabilities Projection
1ST QTR
$707,000
2ND QTR
$657,000
$700,000
3RD QTR
$657,000
$600,000
4TH QTR
$657,000
$500,000
5TH QTR
$632,000
6TH QTR
$617,000
7TH QTR
$602,000
$100,000
8TH QTR
$587,000
$0
$800,000
$400,000
$300,000
$200,000
2004
2005
2006
2007
2008
Total Liabilities
Total Liabilities Projection
1ST QTR
$1,464,355
2ND QTR
$1,280,896
$1,400,000
3RD QTR
$1,247,787
$1,200,000
4TH QTR
$1,561,950
$1,000,000
5TH QTR
$1,453,666
6TH QTR
$1,479,634
7TH QTR
$1,505,601
$200,000
8TH QTR
$1,531,569
$0
$1,600,000
$800,000
$600,000
$400,000
2004
2005
2006
2007
2008
2009
2010
2011
2007
2008
2009
2010
2011
Equity
Equity Projection
1ST QTR
$2,040,700
2ND QTR
$2,268,579
3RD QTR
$2,438,638
4TH QTR
$3,222,747
5TH QTR
$3,421,716
6TH QTR
$3,793,336
7TH QTR
$4,164,956
8TH QTR
$4,536,576
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
Balance Sheet Summary 4 Years

5,000,000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2004
Current Assets
2005
Fixed Assets
T otal Assets
Current Liabilities
2006
Non-c urrent Liab.
2007
T otal Liabilities
Equity
What-if Balance Sheet

5,000,000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2004
Current Assets
2005
Fixed Assets
T otal Assets
Current Liabilities
2006
Non-c urrent Liab.
2007
T otal Liabilities
Equity
2004
1
$2,000,000
$945,000
Revenue
Sales
Cost of sales
Gross profit
$635,000
$467,000
$1,063,484
$424,000
$16,250
$32,500
$1,250
$50,000
$474,000
$318,000
$16,250
$33,958
$1,250
$51,458
$369,458
$275,600
$16,250
$33,958
$1,250
$51,458
$327,058
$426,141
$16,250
$33,958
$1,250
$51,458
$477,599
Operating income
$581,000
$265,542
$139,942
$585,885
Subtotal
$100,000
$20,000
$120,000
$10,000
$50,000
$60,000
$3,000
$100,000
$103,000
$405,700
$200,000
$605,700
Income before tax
$701,000
$325,542
$242,942
$1,191,585
Income tax
$210,300
$97,663
$72,883
$357,475
Net income
$490,700
$227,879
$170,059
$834,109
$1,400,000
$1,890,700
$2,118,579
$2,288,638
$0
$0
$0
$50,000
$1,890,700
$2,118,579
$2,288,638
$3,072,747
Subtotal (IDA)
Total expenses

Other (net)
Dividends paid
2007
4
$2,010,100
$946,616
$1,055,000
Expenses
Operating expenses
Interest
Depreciation
Amortization
Projected
2005
2006
2
3
$1,500,000
$1,300,000
$865,000
$833,000
Income Statement 8 Periods

2004
1
$2,000,000
$945,000
Revenue
Sales
Cost of sales
Gross profit
Projected
2005
2006
2
3
$1,500,000
$1,300,000
$865,000
$833,000
2007
4
$2,010,100
$946,616
2008
5
$1,660,100
$890,616
Forecasted
2009
2010
6
7
$1,643,130
$1,626,160
$887,901
$885,186
$1,055,000
$635,000
$467,000
$1,063,484
$769,484
$755,229
$740,974
$726,720
$424,000
$16,250
$32,500
$1,250
$50,000
$474,000
$318,000
$16,250
$33,958
$1,250
$51,458
$369,458
$275,600
$16,250
$33,958
$1,250
$51,458
$327,058
$426,141
$16,250
$33,958
$1,250
$51,458
$477,599
$351,941
$16,250
$34,687
$1,250
$52,187
$404,128
$348,344
$16,250
$35,124
$1,250
$52,624
$400,968
$344,746
$16,250
$35,562
$1,250
$53,062
$397,808
$341,148
$16,250
$35,999
$1,250
$53,499
$394,647
Operating income
$581,000
$265,542
$139,942
$585,885
$365,356
$354,261
$343,167
$332,072
Subtotal
$100,000
$20,000
$120,000
$10,000
$50,000
$60,000
$3,000
$100,000
$103,000
$405,700
$200,000
$605,700
$357,200
$240,000
$597,200
$448,210
$299,000
$747,210
$539,220
$358,000
$897,220
$630,230
$417,000
$1,047,230
Income before tax
$701,000
$325,542
$242,942
$1,191,585
$962,556
$1,101,471
$1,240,387
$1,379,302
Income tax
$210,300
$97,663
$72,883
$357,475
$288,767
$330,441
$372,116
$413,791
Net income
$490,700
$227,879
$170,059
$834,109
$673,789
$771,030
$868,271
$965,511
$1,400,000
$1,890,700
$2,118,579
$2,288,638
$2,647,928
$2,937,307
$3,226,686
$3,516,065
$0
$0
$0
$50,000
$50,000
$65,000
$80,000
$95,000
$1,890,700
$2,118,579
$2,288,638
$3,072,747
$3,271,716
$3,643,336
$4,014,956
$4,386,576
Expenses
Operating expenses
Interest
Depreciation
Amortization
Subtotal (IDA)
Total expenses

Other (net)
Dividends paid

Income Statement
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
Sales
2011
8
$1,609,190
$882,470
2005
Cost of sales
2006
2007
Gross profit
2008
T otal expenses
2009
Inc ome before tax
2010
2011
Net inc ome
Forecast Analysis 8 Years

Income Statement
Sales
Cost of Goods Sold
G&A
Total Operating Expenses
EBIT
Net Income After
Balance Sheet
Current Assets
Inventory
Other Assets
Total Assets
Current Liabilities
Non-current Liabilities
Total Liabilities
Equity
Cash Flow
Net Cash Flow
Breakeven
Break-Even
B/E %
DAY OF B/E
DATE OF B/E
Key Ratios
Current Ratio
Quick Ratio
Debt Ratio
Asset Turnover
Net Income/Sales
Debt/Equity
Return on Assets
Sales/Working Capital
Working Capital
Market Value
Book Market Value
Altman Z-Score Analysis
Publicly Held Firm
Privately Held Firm
Non-Manufacturing
2004
2005
2006
2007
2008
2009
2010
2011
Trend
ASSESSMENT
$2,000,000
$945,000
$1,055,000
$50,000
$474,000
$701,000
$490,700
$1,500,000
$865,000
$635,000
$51,458
$369,458
$325,542
$227,879
$1,300,000
$833,000
$467,000
$51,458
$327,058
$242,942
$170,059
$2,010,100
$946,616
$1,063,484
$51,458
$477,599
$1,191,585
$834,109
$1,660,100
$890,616
$769,484
$52,187
$1,648,115
$962,556
$673,789
$1,438,305
$630,411
$33,000
$3,505,055
$757,355
$707,000
$1,464,355
$2,040,700
$3,505,055
$1,418,433
$590,959
$120,000
$3,549,475
$623,896
$657,000
$1,280,896
$2,268,579
$3,549,475
$1,693,091
$575,178
$5,000
$3,686,425
$590,787
$657,000
$1,247,787
$2,438,638
$3,686,425
$2,796,071
$631,208
$23,000
$4,784,697
$904,950
$657,000
$1,561,950
$3,222,747
$4,784,697
$2,923,464
$603,592
$9,000
$4,875,382
$821,666
$632,000
$1,453,666
$3,421,716
$4,875,382
$90,360
$289,233
$614,196
$1,454,008
$1,715,926
$898,578
44.93%
164
Jun 11
$872,735
58.18%
212
Jul 30
$910,440
70.03%
256
Sep 11
$902,714
44.91%
164
Jun 11
$908,645
57.46%
210
Jul 27
1.90
1.07
0.42
0.57
0.25
0.72
0.18
2.94
$680,950
2.27
1.33
0.36
0.42
0.15
0.56
0.08
1.89
$794,537
2.87
1.89
0.34
0.35
0.13
0.51
0.05
1.18
$1,102,304
3.09
2.39
0.33
0.42
0.41
0.48
0.21
1.06
$1,891,121
3.57
2.82
0.30
0.34
0.41
0.42
0.17
0.79
$2,101,798
$2,040,700
$2,268,579
$2,438,638
$3,222,747
$3,421,716
3.85
2.64
5.84
3.64
2.19
5.89
3.66
2.07
6.48
4.72
2.97
8.53
4.62
2.69
8.85
Forecast
$1,626,160
$885,186
$740,974
$53,062
$1,641,795
$1,240,387
$868,271
Forecast
$3,358,260
$3,793,055
$602,253
$600,914
($5,500)
($20,000)
$5,272,970
$5,670,557
$862,634
$903,601
$617,000
$602,000
$1,479,634
$1,505,601
$3,793,336
$4,164,956
$5,272,970
$5,670,557
Forecast
$2,157,517
$2,599,107
Forecast
$913,656
$918,668
58.64%
59.82%
214
218
Aug 01
Aug 05
Forecast
3.99
4.41
3.19
3.53
0.28
0.27
0.31
0.29
0.47
0.53
0.39
0.36
0.17
0.18
0.66
0.56
$2,495,626
$2,889,454
Forecast
$3,793,336
$4,164,956
Forecast
4.89
5.15
2.77
2.86
9.71
10.58
$1,643,130
$887,901
$755,229
$52,624
$1,396,158
$1,101,471
$771,030
$1,609,190
$882,470
$726,720
$53,499
$1,887,432
$1,379,302
$965,511
Caution
Caution
Caution
Caution
Caution
Good
Good
$4,227,851
$599,575
($34,500)
$6,068,145
$944,569
$587,000
$1,531,569
$4,536,576
$6,068,145
Good
Good
Caution
Good
Good
Good
Good
Good
Good
$3,040,698
Good
$923,679
61.00%
223
Aug 09
Good
Good
Good
Good
4.82
3.84
0.25
0.27
0.60
0.34
0.19
0.49
$3,283,282
Good
Good
Good
Good
Good
Good
Good
Good
Good
$4,536,576
Good
5.41
2.95
11.44
Good
Good
Good
Revenue Operations
Sales
Cost of Goods Sold
Gross profit
Total expenses
Operating income
Other Income
Taxes
Net Income
Projected
2004
2005
2006
2007
2004
2005
2006
2007
2,000,000
1,500,000
1,300,000
2,010,100
2,000,000
1,500,000
1,300,000
2,010,100
945,000
865,000
833,000
946,616
945,000
865,000
833,000
946,616
1,055,000
635,000
467,000
1,063,484
1,055,000
635,000
467,000
1,063,484
474,000
369,458
327,058
477,599
474,000
369,458
327,058
477,599
581,000
265,542
139,942
585,885
581,000
265,542
139,942
585,885
120,000
60,000
103,000
605,700
120,000
60,000
103,000
605,700
210,300
97,663
72,883
357,475
210,300
97,663
72,883
357,475
490,700
227,879
170,059
834,109
490,700
227,879
170,059
834,109
Reset
Projected
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2004
Sales
Cost of Goods Sold
Gross profit
2005
T otal expenses
2006
Operating inc ome
2007
Other Inc ome
T axes
Other Inc ome
T axes
Net Inc ome

2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2004
Sales
Cost of Goods Sold
Gross profit
2005
T otal expenses
2006
Operating inc ome
2007
Net Inc ome
Income Statement Charts

Sales
Cost of Goods Sold
Earnings Before Inc.Taxes
Net Income After Taxes
$2,000,000
$945,000
$1,055,000
$474,000
$701,000
$490,700
$1,500,000
$865,000
$635,000
$369,458
$325,542
$227,879
$1,300,000
$833,000
$467,000
$327,058
$242,942
$170,059
$2,500,000
$2,010,100
$946,616
$1,063,484
$477,599
$1,191,585
$834,109
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
Sales
Cost of Goods Sold
2005
2006
2007
Earnings Before Inc.Taxes
Net Income After Taxes
Sales
Sales
COG
2007
2007
2006
2006
2005
2005
2004
2004
Sales
2004
2005
Gross Profit
2007
2007
2006
2006
2005
2005
2004
2004
2005
Expenses
2007
2007
2006
2006
2005
2005
2004
2004
2007
2006
2006
2005
2005
2004
2004
2007
2006
2006
2005
2005
2004
2004
20072004
2004
2006
2005
2007
2005
2006
2007
2005
2006
2007
2006
2007
2006
2007
EBIT
20072004
Sales
2006
Expenses
2006
2005
Net Income
2007
20072004
Sales
2004
Sales
2005
Gross Profit
2006
2005
EBIT
2007
20072004
Sales
2004
Sales
2006
Sales
2004
Sales
COG
2005
Net Income
2006
20072004
2005
Revenue
Sales Projection
1ST QTR
$2,000,000
2ND QTR
$1,500,000
3RD QTR
$1,300,000
4TH QTR
$2,010,100
5TH QTR
$1,660,100
6TH QTR
$1,643,130
7TH QTR
$1,626,160
8TH QTR
$1,609,190
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2010
2011
2010
2011
2010
2011
Cost of Goods
Cost of Goods Projection
1ST QTR
$945,000
2ND QTR
$865,000
3RD QTR
$833,000
4TH QTR
$946,616
5TH QTR
$890,616
6TH QTR
$887,901
7TH QTR
$885,186
8TH QTR
$882,470
$960,000
$940,000
$920,000
$900,000
$880,000
$860,000
$840,000
$820,000
$800,000
$780,000
$760,000
2004
2005
2006
2007
2008
2009
Gross Profit
Gross Profit Projection
1ST QTR
$1,055,000
2ND QTR
$635,000
3RD QTR
$467,000
4TH QTR
$1,063,484
5TH QTR
$769,484
6TH QTR
$755,229
$400,000
7TH QTR
$740,974
$200,000
8TH QTR
$726,720
$0
$1,200,000
$1,000,000
$800,000
$600,000
2004
2005
2006
2007
2008
2009
General & Administrative Expenses

G&A Expenses Projection
1ST QTR
$50,000
2ND QTR
$51,458
3RD QTR
$51,458
4TH QTR
$51,458
5TH QTR
$52,187
6TH QTR
$52,624
$50,000
7TH QTR
$53,062
$49,000
8TH QTR
$53,499
$48,000
$54,000
$53,000
$52,000
$51,000
2004
2005
2006
2007
2008
2009

Total Operating Expenses Projection
1ST QTR
$474,000
2ND QTR
$369,458
3RD QTR
$327,058
4TH QTR
$477,599
5TH QTR
$1,648,115
6TH QTR
$1,396,158
7TH QTR
$1,641,795
8TH QTR
$1,887,432
$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2008
2009
2010
2011
2008
2009
2010
2011
Earnings Before Taxes

Earnings Before Taxes Projection
1ST QTR
$701,000
2ND QTR
$325,542
$1,400,000
$1,200,000
3RD QTR
$242,942
4TH QTR
$1,191,585
$800,000
5TH QTR
$962,556
$600,000
6TH QTR
$1,101,471
$400,000
7TH QTR
$1,240,387
$200,000
8TH QTR
$1,379,302
$0
$1,000,000
2004
2005
2006
2007
Net Income
Net Income Projection
1ST QTR
$490,700
2ND QTR
$227,879
3RD QTR
$170,059
4TH QTR
$834,109
5TH QTR
$673,789
6TH QTR
$771,030
7TH QTR
$868,271
8TH QTR
$965,511
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
2004
2005
2006
2007
Projected Income Statement Chart

2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2004
Sales
2005
Cost of Goods Sold
Gross profit
2006
T otal expenses
Operating inc ome
2007
Other Inc ome
T axes
Net Inc ome
What-if Trial Projections Income Statement Chart

2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
2004
Sales
2005
Cost of Goods Sold
Gross profit
2006
T otal expenses
Operating inc ome
2007
Other Inc ome
T axes
Net Inc ome
FINANCIAL RATIOS
Description
Altman Z Score - Publicly Held
Altman Z Score - Privately Held
Altman Z Score - Non-manufacturing
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Days Sales in AR
Inventory Turnover
Days Inventory
Net Sales to Inventory
Days Purchases in AP
Working Capital
Net Sales to Working Capital
Total Assets to Net Sales
Net Sales to AR
Net Sales to Net Fixed Assets
Net Sales to Total Assets
Net Sales to Net Worth
Amortization and Depreciation Expense to Net Sales
Profitability Ratios
Gross Profit Percentage
Operating Expenses as % of Net Sales
Return on Total Assets
Return on Net Worth
Return on Net Sales
Income before tax to Net Worth
Income before tax to Total Assets
Retained Earning to Net Income
Coverage Ratios
Times Interest Earned
Interest Expense to Net Sales
Current Liabilities to Net Worth
Current Liabilities to Inventory
AP to Net Sales
Total Liabilities to Net Worth
Net Worth to Total Liabilities
2004
3.85
2.64
5.84
2005
3.64
2.19
5.89
2006
3.66
2.07
6.48
2007
4.72
2.97
8.53
1.90
1.07
2.27
1.33
2.87
1.89
3.09
2.39
39.45
1.50
80.05
3.17
41.75
$680,950
2.94
1.75
3.04
1.00
0.57
0.98
0.025
39.45
1.46
81.98
2.54
45.61
$794,537
1.89
2.37
3.04
0.76
0.42
0.66
0.034
39.45
1.45
82.86
2.26
47.36
$1,102,304
1.18
2.84
3.04
0.66
0.35
0.53
0.040
39.45
1.50
80.02
3.18
41.68
$1,891,121
1.06
2.38
3.04
1.04
0.42
0.62
0.026
52.75%
23.70%
14.00%
24.05%
24.54%
34%
20%
385%
42.33%
24.63%
6.42%
10.05%
15.19%
14%
9%
930%
35.92%
25.16%
4.61%
6.97%
13.08%
10%
7%
1346%
52.91%
23.76%
17.43%
25.88%
41.50%
37%
25%
368%
43.14
0.01
0.37
1.20
0.16
0.72
1.39
20.03
0.01
0.28
1.06
0.22
0.56
1.77
14.95
0.01
0.24
1.03
0.25
0.51
1.95
73.33
0.01
0.28
1.43
0.16
0.48
2.06
Key Financial Indicators - 4 Financial Periods

Bankruptcy Predictors
Altman Z Score - Publicly Held
Altman Z Score - Privately Held
5.00
Altman Z Score - Non-manufacturing
3.00
4.50
2.50
4.00
3.50
2.00
3.00
2.50
1.00
2
$1,200,000
6.00
$1,000,000
$800,000
$600,000
$400,000
2.00
$200,000
1.00
$1,400,000
7.00
3.00
0.50
0.50
8.00
4.00
1.00
1.50
$1,600,000
5.00
1.50
2.00
Cash Flow
9.00
$0
Revenue
Sales
Cost of Sales
$2,500,000
Gross Profit
$960,000
$940,000
$2,000,000
$920,000
$900,000
$1,500,000
$1,200,000
60.00%
$1,000,000
50.00%
$800,000
40.00%
$600,000
30.00%
$400,000
20.00%
$200,000
10.00%
$880,000
$860,000
$1,000,000
$840,000
$820,000
$500,000
$800,000
$780,000
$0
$760,000
1
$0
1
0.00%
1
Expenses
Operating Expenses
Interest, Depreciation, Amortization
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1
Total Expenses
Operating Income
$52,000
$600,000
$700,000
$51,500
$500,000
$600,000
$51,000
$400,000
$50,500
$300,000
$50,000
$200,000
$49,500
$100,000
$49,000
$0
$500,000
$400,000
$300,000
$200,000
$100,000
$0
1
Profit
Net Income Before Taxes
Taxes
$1,400,000
$400,000
$1,200,000
$350,000
$1,000,000
$300,000
Net Income
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
$250,000
$800,000
$200,000
$600,000
$150,000
$400,000
$100,000
$200,000
$50,000
$0
$0
1
Retained Earnings
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1
Assets and Liabilities

Current Assets
Total Assets
Current Liabilities
$3,000,000
$6,000,000
$1,000,000
$2,500,000
$5,000,000
$800,000
$2,000,000
$4,000,000
$1,500,000
$3,000,000
$1,000,000
$2,000,000
$500,000
$1,000,000
$0
$0
1
Total Liabilities
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
$600,000
$400,000
$200,000
$0
1
Ratios
Current Ratio
Quick Ratio
3.50
3.00
3.00
2.50
2.50
Working Capital
$2,000,000
$3,000,000
1.50
1.50
0.50
0.50
$2,500,000
$2,000,000
$1,000,000
1.00
1.00
$3,500,000
$1,500,000
2.00
2.00
Net Worth
$1,500,000
$1,000,000
$500,000
$500,000
$0
1
$0
1
Key Financial Ratios Indicators - 4 Financial Periods

Activity Ratios
Days Sales in Accounts Receivables
Inventory Turnover
39.45
39.45
39.45
39.45
39.45
39.45
39.45
39.45
39.45
39.45
Days Inventory
1.51
1.50
1.49
1.48
1.47
1.46
1.45
1.44
1.43
1.42
1
46.00
38.00
1.00
0.50
-
3.00
3.04
3.00
2.50
3.04
Net Sales to Net Fixed Assets
3.04
3.04
3.04
1
Net Sales to Total Assets
Net Sales to Net Worth
0.60
1.20
1.00
0.50
1.00
0.80
0.40
0.80
0.60
0.30
0.60
0.40
0.20
0.40
0.20
0.10
0.20
Amort. and Dep. Expense to Net Sales

0.045
0.040
0.035
0.030
0.025
0.020
0.015
0.010
0.005
-
3.04
1.00
3.04
1.50
0.50
3.04
2.00
0.50
Net Sales to AR
3.50
Total Assets to Net Sales
1.20
1.50
78.00
1.00
40.00
2.00
79.00
1.50
42.00
2.50
80.00
2.00
3.00
81.00
2.50
44.00
83.00
Net Sales to Working Capital
48.00
3.50
82.00
Days Purchases in AP
Net Sales to Inventory
84.00
Profitability Ratios
Operating Expenses as % of Net Sales
60.00%
25.50%
50.00%
25.00%
40.00%
24.50%
30.00%
24.00%
20.00%
23.50%
10.00%
23.00%
0.00%
22.50%
1
Return on Net Sales
20.00%
15.00%
10.00%
5.00%
5.00%
0.00%
1
0.00%
1
Income before tax to Total Assets
25%
20%
15%
15%
0%
1000%
800%
600%
400%
200%
0%
1200%
5%
5%
1400%
10%
10%
1600%
25%
20%
Retained Earning to Net Income
30%
30%
25.00%
10.00%
35%
30.00%
15.00%
40%
Return on Net Worth
20.00%
Income before tax to Net Worth
45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
Return on Total Assets
0%
1
Coverage Ratios
Times Interest Earned
Interest Expense to Net Sales
Current Liabilities to Net Worth
Current Liabilities to Inventory
80.00
0.01
0.40
1.60
70.00
0.01
0.35
1.40
0.01
0.30
1.20
0.25
1.00
0.20
0.80
0.15
0.60
60.00
50.00
0.01
40.00
0.01
30.00
20.00
0.00
0.10
0.40
10.00
0.00
0.05
0.20
Optimal Performance Analysis - 4 Periods

Average Actual
4 Year Performance
$
Total Sales
Total Cost of Goods Sold
Gross Profit
Operating Income
Net Income (Loss)
$1,702,525
$897,404
$805,121
$412,029
$393,092
$430,687
Based on this analysis, the firm has the potential for

proper expense controls in place.
Optimal
Performance
$
100.00%
52.71%
47.29%
24.20%
23.09%
25.30%
$403,422
Variance
$2,010,100
$833,000
$1,063,484
$327,058
$585,885
$834,109
100.00%
41.44%
52.91%
16.27%
29.15%
41.50%
$307,575
($64,404)
$258,363
($84,971)
$192,793
$403,422
in added profits with increased sales and
This analysis has the sole purpose to show how, if everything comes together, the results of maximum efficiency can result
in increased Net Profit.
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Average Actual
4 Year Performance
Total Sales
Total Cost of Goods Sold
Gross Profit
Optimal
Performance
Operating Income
Net Income (Loss)
Break-Even Analysis 4 Periods

2004
2005
2006
2007
Average
Sales
$2,000,000
$1,500,000
$1,300,000
$2,010,100
$1,702,525
Contribution Margin
$1,055,000
$635,000
$467,000
$1,063,484
$805,121
52.75%
42.33%
35.92%
52.91%
47.29%
$474,000
$369,458
$327,058
$477,599
$412,029
23.70%
24.63%
25.16%
23.76%
24.20%
$898,578
$872,735
$910,440
$902,714
$896,117
44.93%
58.18%
70.03%
44.91%
Contribution Margin Ratio

Total Fixed Expenses
Total Fixed Expenses Ratio
Break-Even Sales
Break-Even %
Date of Break-Even
6/11
7/30
9/11
6/11
Operating Profit
$581,000
$265,542
$139,942
$585,885
51.18%
7/4
$393,092
Bre ak -Even Analysis First Pe riod

$2,500,000
$2,000,000
$1,500,000
$1,000,000
Jan
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Jan
$0
Feb
$500,000
Bankruptcy Predictions
Account
Descriptions
Sales
Retained Earnings
EBIT
Cash Flow
Sales
Worki ng Capital
Accounts Receivable-Beginning
Accounts Receivable-Ending
Cash
Cash Flow
Current Assets
Current Liabilities
EBIT
Equity
Fixed Assets
Interest
Inventory-Beginning
Inventory-Ending
Long Term Debt
Market Value of Equity
Marketable Securities
Net Profit before Interest and Taxes
Retained Earnings
Sales
Tangible Total Assets
Total Assets
Total Liabilities
Working Capital
Predictor
ID
2004
2005
2006
2007
350,000
657,534
90,360
90,360
1,438,305
757,355
701,000
2,040,700
2,005,000
16,250
400,000
630,411
500,000
2,040,700
20,000
581,000
1,890,700
2,000,000
28,750
3,505,055
1,464,355
680,950
657,534
493,151
289,233
289,233
1,418,433
623,896
325,542
2,268,579
1,983,542
16,250
630,411
590,959
500,000
2,268,579
50,000
265,542
2,118,579
1,500,000
27,500
3,549,475
1,280,896
794,537
493,151
427,397
614,196
614,196
1,693,091
590,787
242,942
2,438,638
1,962,084
16,250
590,959
575,178
500,000
2,438,638
100,000
139,942
2,288,638
1,300,000
26,250
3,686,425
1,247,787
1,102,304
427,397
660,855
1,454,008
1,454,008
2,796,071
904,950
1,191,585
3,222,747
1,940,626
16,250
575,178
631,208
500,000
3,222,747
200,000
585,885
3,072,747
2,010,100
25,000
4,784,697
1,561,950
1,891,121
L
L
L
F
Z, S
All
Z, S, F
F
L
F
L
L
L
Z
L
S, L
Z, F
ALL except Z3
F
All
Z, F
Z, S, F
Instructions
These figures are linked to

the Master Data Entry
worksheet.
The Predictor ID Codes
indicate
the
individual
analyses that use the
numbers:
Z = Z-Scores
S = Springate
L = Logit Analysis
F = Fulmer H-Factor
All = All Predictors
Predictions
Z Score: If Publicly Held
1.2 x (working capital / total assets)
1.4 x (retained earn / total assets)
3.3 x (EBIT / total assets)
.6 x (market value equity / total liabilities)
.999 x (sales / total assets)
Z Score: If Publicly Held
2004
0.2331
0.7552
0.6600
0.8361
0.5700
3.05
2005
0.2686
0.8356
0.3027
1.0627
0.4222
2.89
2006
0.3588
0.8692
0.2175
1.1726
0.3523
2.97
2007
0.4743
0.8991
0.8218
1.2380
0.4197
3.85
TREND
Z Score: If Privately Held

.717 x (working capital / total assets)
.847 x (retained earn / total assets)
.042 x (market value equity / total liabilities)
.998 x (sales / total assets)
Z Score: If Privately Held
2004
0.1393
0.4569
0.6214
0.0585
0.5695
1.85
2005
0.1605
0.5055
0.2850
0.0744
0.4218
1.45
2006
0.2144
0.5258
0.2048
0.0821
0.3519
1.38
2007
0.2834
0.5439
0.7738
0.0867
0.4193
2.11
TREND
Z Score: Non-Manufacturing
6.56 x (working capital / total assets)
3.26 x (retained earn / total assets)
1.05 x (market value equity / total liabilities)
Z Score: Non-Manufacturing
2004
1.2745
1.7585
1.3440
1.4633
5.84
2005
1.4684
1.9458
0.6163
1.8596
5.89
2006
1.9616
2.0239
0.4429
2.0521
6.48
2007
2.5928
2.0936
1.6736
2.1664
8.53
TREND
Springate Analysis
Working Capital
Net Profit before interest and Taxes
Total Assets
Net Profit before Taxes
Current Liabilities
Sales
2004
680,950
581,000
3,505,055
701,000
757,355
2,000,000
2005
794,537
265,542
3,549,475
325,542
623,896
1,500,000
2006
1,102,304
139,942
3,686,425
242,942
590,787
1,300,000
2007
1,891,121
585,885
4,784,697
1,191,585
904,950
2,010,100
TREND
0.19428
0.20000
0.92559
0.57060
1.65
0.22385
0.09172
0.52179
0.42260
1.03
0.29902
0.06590
0.41122
0.35265
0.92
0.39524
0.24904
1.31674
0.42011
2.21
Logit Analysis
Cash
Marketable Securities
Accounts Receivable-Beginning
Accounts Receivable-Ending
Inventory-Beginning
Inventory-Ending
Fixed Assets
Total Assets
Current Liabilities
Long Term Debt
Sales
Income from Continuing Operations
2004
90,360
20,000
350,000
657,534
400,000
630,411
2,005,000
3,505,055
757,355
500,000
2,000,000
581,000
2005
289,233
50,000
657,534
493,151
630,411
590,959
1,983,542
3,549,475
623,896
500,000
1,500,000
265,542
2006
614,196
100,000
493,151
427,397
590,959
575,178
1,962,084
3,686,425
590,787
500,000
1,300,000
139,942
2007
1,454,008
200,000
427,397
660,855
575,178
631,208
1,940,626
4,784,697
904,950
500,000
2,010,100
585,885
Constant
Average Inventories/Sales
Average Receivables/Average Inventories
Cash+Marketable Securities/Total Assets
Quick Assets/Current Liabilities
Income from CO/(Total Assets-Current Liab)
Long-Term Debt/(Total Assets-Current Liab)
Sales/(Net Working Capital+Fixed Assets)
Sum of Coefficients * Ratios
Logit Analysis Probability of Bankruptcy
0.23883
-0.034
-1.651
-0.339
3.117
0.103
-0.792
0.083
0.725
32.62%
1
2004
0.5394
0.5706
0.3435
0.0617
0.4178
0.2161
4.4586
0.4650
1.6349
0.23883
-0.043
-1.321
-1.030
4.101
0.044
-0.743
0.059
1.306
21.31%
2
2005
0.5969
0.4226
0.1435
0.2258
0.3609
0.1758
4.4393
0.6203
1.3018
0.23883
-0.048
-1.176
-2.088
5.940
0.022
-0.703
0.046
2.232
9.69%
3
2006
0.6208
0.3526
0.0996
0.4922
0.3385
0.1603
4.4191
0.8834
1.1746
0.23883
-0.034
-1.657
-3.727
7.863
0.073
-0.561
0.056
2.253
9.51%
4
2007
0.6422
0.4201
0.3697
0.9309
0.3264
0.1891
4.3979
1.2107
1.8653
3.30
0.09
0.01
0.29
-0.04
0.41
2.55
0.67
1.16
8.44
-6.08
2.37
3.43
0.07
0.01
0.63
-0.04
0.37
2.54
0.96
1.05
9.02
-6.08
2.95
3.55
0.09
0.03
1.18
-0.04
0.44
2.53
1.31
1.67
10.76
-6.08
4.68
Working Capital/Total Assets

Net Profit before interest and Taxes/Total Assets
Net Profit before Taxes/Current Liabilities
Sales/Total Assets
Springate Analysis Z =
Fulmer H-Factor Analysis

Retained Earnings/Total Assets
Sales/Total Assets
EBIT/Equity
Cash Flow/Total Debt
Total Debt/Total Assets
Current Liabilities/Total Assets
Log Tangible Total Assets
Working Capital/Total Debt
Log EBIT/Interest
3.81 OK
Overall Trend OK
1.87 Warning - Trend Below 2.90

Overall Trend is OK
8.85 OK
Overall Trend is OK
1.84 OK - Above 0.862

Overall Trend is OK
TREND
5
TREND
-2% OK - Below 50%

Overall Trend is OK
H-Factor
Sum
Less
Fulmer H-Factor Analysis H =
2.98
0.12
0.03
0.08
-0.05
0.50
2.56
0.50
1.46
8.19
-6.08
2.11
5.10 OK
3.03 Overall Trend is OK
Copyright Notice
2014, JaxWorks
All rights reserved.
Specifications are subject to change without notice.
FreeDash Small Business Analysis System is a registered trademark of Jaxworks. All other brands or products are trademarks or
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This program is protected by copyright law and international treaties.Unauthorized reproduction or distribution of this program, or any
portion of it may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under law.
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Income before tax

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Total Fixed Assets

Total Current Assets

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Cost of Goods Sold

Income before tax

Comparative Analysis 4 Years

Cost of Goods Sold

Gross Profit (Margin)

T otal Operating Expenses

Earnings Before Inc.T axes

Cash and cash equivalents

Net Income After T axes

Other current assets

Total Current Assets

Total Fixed Assets

Intangible Assets Cost

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Other long-term liabilities

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Capital stock issued

Additional paid in capital

Total Liabilities and Equity

Comparative Analysis 4 Years

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Cash Flow Statement

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Net increase (decrease) in cash

Cash at beginning of period

Cash at the end of period

Net cash from operations

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CASH FLOW STATEMENT 8 YEARS

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Net increase (decrease) in cash

Cash at beginning of period

Cash at the end of period

Cash from operations

Cash Flow 8 Years

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Total Fixed Assets

Total Intangible Assets

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Total Liabilities and Equity

Total Current Liabilities

Assets vs. Liabilities

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Balance Sheet 8 Years

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Total Liabilities and Equity

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Assets vs. Liabilities

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What-if Trial Projections