Fast Sparrow Inc.
Balance Sheet
Assets 2017 2016 2015 2014 2,018 2,019
Cash & Equivalents 425 212 184 74
Short term Investments - 65 40 10
Accounts Receivable 375 315 310 285 365 384
Inventories 615 415 315 215 436.41 459.39
Total Current Assets 1,415 1,007 849 584 801 843
Plant & Equipment (Cost) 670 670 670 670 670 670
Accumulated Depreciation 280 210 140 70 350 420
Plant & Equipment (Net ) 390 460 530 600 320 250
Total Assets 1,805 1,467 1,379 1,184 1,121 1,093
Liabilities 2017 2016 2015 2014 2,018 2,019
Accounts Payable 60 30 25 15 31 33
Notes Payable 110 60 90 75 95.08 100.09
Accruals 140 130 120 110 152 164
Total Current Liabilities 310 220 235 200
Long term Bonds 754 580 553 420 921 1,126
Total Liabilities 1,064 800 788 620
Preferred stock (400,000 shares) 100 100 100 100 100 100
Common stock (50,000,000 shares) 400 400 400 400 400 400
Retained Earnings 241 167 91 64 300 358
Total Common Equity 741 667 591 564 800 858
Total Liabilities & Equity 1,805 1,467 1,379 1,184
2,020 2,021 2,022
404 425 448 -
483.59 509.06 535.88
888 935 984
670 670 670
490 560 630
180 110 40
1,068 1,045 1,024
2,020 2,021 2,022
34 36 38 -
105.36 110.91 116.76
178 193 209
1,375 1,680 2,053
100 100 100
400 400 400
413 463 507
913 963 1,007
Fast Sparrow Inc.
Cash Flow Statement
2017 2016 2015 2014
Operating Activities
Net Income ### ### 80.2 ###
Adjustments
Depreciation 70.0 70.0 70.0 70.0
Working Capital Changes
Accounts Recievable (60.0) (5.0) (25.0) ###
Inventories ### ### ### ###
Accounts Payable 30.0 5.0 10.0 15.0
Accruals 10.0 10.0 10.0 ###
Net Cash By Operating Activities ### ### 45.2 ###
Investing Activities
Purchase of Fixed Assets - - - ###
Financing Activities
Prefferd Stock - - - 100.0
Common Stock - - - 400.0
Sales of short term investments 65.0 (25.0) (30.0) (10.0)
Notes Payable 50.0 (30.0) 15.0 75.0
Bonds Outstanding ### 27.0 ### ###
Payment of Preffered & Common Dividends (61.5) (57.5) (53.5) (49.5)
Net Cash Provided by Financing Activities ### ### 64.5 ###
Total Cash Inflow/Outflow ### 28.3 ### 74.3
Cash at the beginning of the year ### ### 74.3 -
Cash at the end of the year ### ### ### 74.3
Fast Sparrow Inc.
Income Statement
2017 2016 2015 2014 2,018
Net Sales 3,000.0 2,850.0 2,679.5 2,572.1 3,158
Operating Cost 2,617 2,497 2,400 2,262 2,781.75
EBITDA 383.0 353.0 280.0 310.1 376.3
Depriciation and Imortization 70.0 70.0 70.0 70.0 70
EBIT 313.0 283.0 210.0 240.1 306.3
Interest 88.0 60.0 76.4 50.4 110
EBT 225.0 223.0 133.6 189.7 196.1
Taxes (40%) 90.0 89.2 53.4 75.9 78
Net Income before Preffered Dividends 135.0 133.8 80.2 113.8 117.7
Preffered Dividends 4.0 4.0 4.0 4.0 4.0
Net Income 131.0 129.8 76.2 109.8 113.7
Common Dividends 57.5 53.5 49.5 45.5 54
0.1 0.1 0.1
Addition to Retained Earnings 73.5 76.3 26.7 64.3 59.2
Price of Common Stock 23 26 25 27.0
2,019 2,020 2,021 2,022
3,324 3,499 3,684 3,878
2,928.27 3,082.51 3,244.88 3,415.80
396.1 416.9 438.9 462.0
70 70 70 70
326.1 346.9 368.9 392.0
135 164 201 246
191.5 182.5 168.0 146.5
77 73 67 59
114.9 109.5 100.8 87.9
4.0 4.0 4.0 4.0
110.9 105.5 96.8 83.9
53 51 46 40
57.8 55.0 50.4 43.7
Fast Sparrow Inc.
assumptions
years 2017 2016 2015 2014 average 2018 2019
Net Sales 5% 6% 4% 5%
Operating Cost 87% 88% 90% 88% 88%
interest 12% 10% 14% 12% 12%
payout ratio 44% 41% 65% 41% 48%
balance sheet
long term bonds 30% 5% 32% 22%
short term investments 0% 31% 22% 13% 16%
a/c recievable 13% 11% 12% 11% 12%
inventories 24% 17% 13% 10% 16%
a/c payable 2% 1% 1% 0% 1%
notes payable 4% 2% 4% 3% 3%
accruals 8% 8% 9% 8%
2020 2021 2022
