- •Exhibit 1. Screening Ratios
- •Exhibit 2. Growth Ratios, y-t-y percentage changes
- •Exhibit 3. Financial Analysis (1/2)
- •Exhibit 4. Financial Ratio Analysis (2/2)
- •Exhibit 5. Calculation of Additional Fund Needed
- •Exhibit 6. Price Performance
- •Exhibit 7. Calculation of Altman's z-score model
- •Exhibit 8. Calculation Recovery Solvency Ratio
- •Exhibit 9. Computation of Future Cash Flow (1/3)
- •Exhibit 10. Computation of Future Cash Flow (2/3)
- •Exhibit 11. Computation of Future Cash Flow (3/3)
- •Exhibit 12. Forecast of Adjusted Future Cash Flow
Exhibit 12. Forecast of Adjusted Future Cash Flow
|
1987 |
1988* |
1989* |
1990* |
1991* |
1992* |
Sales |
504 483,00 |
625 000,00 |
662 625,00 |
702 515,03 |
744 806,43 |
789 643,78 |
Cost of goods sold |
325 535,00 |
384 062,50 |
407 183,06 |
431 695,48 |
457 683,55 |
485 236,10 |
SG&A |
112 371,00 |
119 135,73 |
126 307,71 |
133 911,43 |
141 972,90 |
150 519,67 |
Interest expense |
59 557 |
65334,03 |
71671,43 |
78623,56 |
86250,04 |
94616,3 |
Earnings (loss) before taxes and extra.credit |
7 020 |
56 468 |
57 463 |
58 285 |
58 900 |
59 272 |
Income tax (benefit) |
|
15460,87 |
15733,32 |
15958,31 |
16126,8 |
16228,59 |
Earnings (loss) after tax and extra. credit |
7 020 |
41 007 |
41 729 |
42 326 |
42 773 |
43 043 |
According to our plan company will get positive cash flow even if it doesn’t pay any debts. These earnings should be turned for interest expenses’ growth covering and paying off debts for further company’s development. Such activity will keep the time for greater capital’s restructure and probably obtaining new loans in the future.
Another key growth driver is reduction of average collection period and sale of all owned bonds. That will help release fund which also should be invested for covering debts, securing liabilities and increasing Coleco’s liquidity.
So, described tactics could be successful in company’s salvation. Otherwise, Coleco always might announce default and be liqudated.