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 FINANCIAL STATEMENTS
-2.3%
-10%

-10%
For Fiscal Year 2024 +2.3%

-3.9% +
+5.2%
Oct. 1, 2023 – Sep. 30,
-5.2%
2024 +7.1%
-8.9% -8.9% +3.9%

+8.9% +8.9%
+5.3%

-10% -10%
+10%

-7.1% Prepared by Company XYZ

-4.3%
-8.3%

-5.3%
-8.9%
+5.2%
+7.1%
-8.3%
+7.1% +5.3%

-11% -11%
+11%
-7.1%
+12% -3.9%

+3.9%

-7.1%
-3.9% +8.3%
-3.9%
-5.3%
+5.2%
+6.0%
-11%

3%
-5.2%
 Report generated on Dec. 31, 20XX | 03

Income Statement (in millions) Dec. 31, 2023 Dec. 31, 2024 Balance Sheet (in millions) Dec. 31, 2023 Dec. 31, 2024
$ $ Assets
Revenues
74,452 83,492
Current assets
Growth % 12.1% $ $
Cash
1,773 2,000
Cost of goods sold (COGS) 64,440 72,524 Accounts receivable 7,750 8,852
Inventory 4,800 5,700
% of sales 86.6% 86.9%
Prepaid expenses 456 1,849
Gross profit 10,012 10,968 Total current
14,779 18,401
assets
% of sales 13.4% 13.1% Non-current assets
PP&E, net of accumulated
10,913 10,932
Operating expenses (SG&A) 6,389 6,545 depreciation
$ $
Total assets
% of sales 8.6% 7.8% 25,692 29,333

Operating income (EBIT) 3,623 4,423 Liabilities

Current liabilities
Interest Expense 518 474
$ $
Accounts payable
5,665 6,656
Pretax income 3,105 3,949
Line of credit 792 1,375

Income tax expense 1,087 1,382 Current maturities of long-term

500 500
debt
$ $ Total current
Net income 6,957 8,531
2,018 2,567 liabilities
Operating income (EBIT) 3,623 4,423 Long-term liabilities
Long-term debt, net of current
5,000 4,500
Depreciation 2,648 2,981 maturities
Total liabilities
Amortization 0 0 11,957 13,031

$ $
EBITDA Equity
6,271 7,404
Common stock 15 15
Additional paid in capital 5,000 5,000
Retained earnings 8,720 11,287
 Report generated on Dec. 31, 20XX | 04

Historical Historical Projected Projected Projected Projected Projected

Income Statement
(in millions) 2022 2023 2024 2025 2026 2027 2028

$ $ $ $ $ $ $
Revenues
74,452 83,492 91,841 101,025 111,128 122,241 134,465
Growth % 12.1% 10.0% 10.0% 10.0% 10.0% 10.0%

Cost of goods sold (COGS) 64,440 72,524 79,634 87,597 96,357 105,992 116,592

% of sales 86.6% 86.9% 86.7% 86.7% 86.7% 86.7% 86.7%

Gross profit 10,012 10,968 12,208 13,428 14,771 16,248 17,873

% of sales 13.4% 13.1% 13.3% 13.3% 13.3% 13.3% 13.3%

Operating expenses (SG&A) 6,389 6,545 7,540 8,294 9,124 10,036 11,040

% of sales 8.6% 7.8% 8.2% 8.2% 8.2% 8.2% 8.2%

Operating income (EBIT) 3,623 4,423 4,667 5,134 5,647 6,212 6,833

Interest expense 518 474

Pretax income 3,105 3,949 4,667 5,134 5,647 6,212 6,833

Income tax expense 1,087 1,382 1,634 1,797 1,977 2,174 2,392

Tax rate NM NM 35.0% 35.0% 35.0% 35.0% 35.0%

$ $ $ $ $ $ $
Net income
2,018 2,567 3,034 3,337 3,671 4,038 4,442
Operating income (EBIT) 3,623 4,423 4,667 5,134 5,647 6,212 6,833

Depreciation 2,648 2,981

Amortization 0 0 0 0 0 0 0
$ $ $ $ $ $ $
EBITDA
6,271 7,404 4,667 5,134 5,647 6,212 6,833
 Report generated on Dec. 31, 20XX | 05

Cash Flow Statement (in millions) 2022 2023 2024 2025 2026

Cash flow from operating activities

$ $ $ $ $
Net income
3,034 3,337 3,671 4,038 4,442
Add back non-cash items

Depreciation

Amortization 0 0 0 0 0

Changes in working capital

Accounts receivable (797) (965) (1,061) (1,167) (1,284)

Inventory (395) (610) (670) (738) (811)

Accounts payable 499 715 787 866 952

Net cash provided by operating activities 2,340 2,478 2,726 2,999 3,298

Cash flow from investing activities

Capital expenditures - purchase of PP&E

Net cash used in investing activities 0 0 0 0 0

Cash flow from financing activities

Revolving credit facility (line of credit)

Long-term debt

Net cash provided by (used in) financing activities 0 0 0 0 0

Net cash flow 2,340 2,478 2,726 2,999 3,298

Beginning cash balance 2,000 4,340 6,819 9,545 12,543

$ $ $ $ $
Ending cash balance
4,340 6,819 9,545 12,543 15,841
 Report generated on Dec. 31, 20XX | 06

Debt schedule 2022 2023 2024 2025 2026 2027 2028

$ $ $ $ $
Cash balance @ beg of year (end of last year)
2,000 2,196 3,953 5,984 8,313
Plus: free cash flow from operations and investing 2,071 2,257 2,531 2,830 3,155

Plus: free cash flow from financing (BEFORE L.O.C.) (500) (500) (500) (500) (500)

Less: minimum cash balance 2,000 2,000 2,000 2,000 2,000

$ $ $ $ $
Total cash available or (required) from L.O.C.
1,571 1,953 3,984 6,313 8,969
Line of credit 792 1,375 0 0 0 0 0

Debt

Long term debt, net of current maturities 5,000 4,500 4,000 3,500 3,000 2,500 2,000

Current portion of long term debt 500 500 500 500 500 500 500

Interest expense

Interest rate on long term debt 8.0% 8.0% 8.0% 8.0% 8.0%

Interest rate on line of credit 5.0% 5.0% 5.0% 5.0% 5.0%

Interest expense on long term debt 380 340 300 260 220

Interest expense on line of credit 34 0 0 0 0

$ $ $ $ $
Total interest expense
414 340 300 260 220
PP&E schedule
Beg: PP&E, net of accum. depreciation 10,932 11,159 11,559 12,099 12,743

Plus: capital expenditures 3,500 4,000 4,500 5,000 5,500

Less: depreciation Used to project 3,273 3,600 3,960 4,356 4,792

Depreciation as % of revenues 3.56% 3.57% 3.56% 3.56% 3.56% 3.56% 3.56%

$ $ $ $ $
End: PP&E, net of accum. depreciation
11,159 11,559 12,099 12,743 13,451
 Report generated on Dec. 31, 20XX | 07

Balance Sheet (in millions) 2022 2023 2024 2025 2026 2027 2028

Current assets
$ $
Cash $ $ $ $ $
1,773 2,000
Accounts receivable 7,750 8,852 9,649 10,614 11,675 12,842 14,127
Inventory 4,800 5,700 6,095 6,705 7,375 8,113 8,924
Prepaid expenses 456 1,849 1,849 1,849 1,849 1,849 1,849
Total current assets 14,779 18,401 17,593 19,167 20,899 22,804 24,900
Non-current assets
PP&E, net of accum. depreciation 10,913 10,932
$ $ $ $ $ $ $
Total assets
25,692 29,333 17,593 19,167 20,899 22,804 24,900
Current liabilities
Accounts payable 5,665 6,656 7,155 7,870 8,657 9,523 10,475
Line of credit 792 1,375
Current maturities of long-term debt 500 500
Total current liabilities 6,957 8,531 7,155 7,870 8,657 9,523 10,475
Long term liabilities
Long term debt, net of current
5,000 4,500
maturities
Total liabilities 11,957 13,031 7,155 7,870 8,657 9,523 10,475
Common stock 15 15 15 15 15 15 15
Additional paid in capital 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Retained earnings 8,720 11,287 14,320 17,658 21,328 25,366 29,808
Total equity 13,735 16,302 19,335 22,673 26,343 30,381 34,823
$ $ $ $ $ $ $
Total liabilities & equity
25,692 29,333 26,490 30,543 35,000 39,904 45,298
Check 0.0 0.0 (8,897.1) (11,375.3) (14,101.2) (17,099.8) (20,398.2)
Balance sheet assumptions
AR days 38 39 38 38 38 38 38
Inventory days 27 29 28 28 28 28 28
AP days 32 33 33 33 33 33 33
 Report generated on Dec. 31, 20XX | 08

Assets (in millions) Liabilities & Owners Equity (in millions)

CURRENT ASSET CURRENT LIABILITIES

Cash $92 Accounts payable $92

Accounts receivable $50 Short-term debt $50

Inventory $30 Total current liabilities $50

Total current assets $172

LONG-TERM LIABILITIES
LONG-TERM ASSETS Long-term debt $200

Equipment $230 Total long-term liabilities $200

Buildings $90

Total long-term assets $320 OWNERS’ EQUITY

Stock $2

+Additional paid-in capital $50

+Retained earning $30

Total shareholders’ equity $172

TOTAL ASSETS $492 TOTAL LIABILITY & OWNERS’ EQUITY $492

 Report generated on Dec. 31, 20XX | 9
Balance Sheet
Assets (in millions) Liabilities (in millions)

CURRENT ASSETS CURRENT LIABILITIES

Cash $40,000 Accounts Payable $30,000
Accounts Receivable $70,000 Current Portion- Long-term Debt $20,000
Inventory $30,000 Total Current Liabilities $50,000
Total Current assets $140,000
LONG-TERM LIABILITIES
LONG-TERM ASSETS
Bank Loan $100,000
Machinery $5,000 Total Long-term Liabilities $100,000
Equipment $40,000
Total Long-term Assets $45,000

TOTAL ASSETS $492 TOTAL LIABILITIES $150,000

Equity (in millions)

Owners’ Capital $25,000

Retained Earnings $10,000

Total Owners’ Equity $35,000

TOTAL LIABILITIES + OWNERS’ EQUITY $185,000

 Report generated on Dec. 31, 20XX 010
|

Historical Historical Historical Projected

Statement of Cash Flows
Year 1 Year 2 Year 3 Year 4

Net income -- $720,100 $ 785,516 $ 855,582

Depreciation -- 120,300 140,000 160,000

Change in accounts receivable -- (59,945) 28,721 (41,249)

Change in inventory -- (329,144) (185,620) (100,591)

Change in prepaid expenses -- (24,800) (4,992) (5,192)

Change in accounts payable -- 173,462 65,429 49,556

Change in accrued expenses -- 12,000 12,480 12,979

Cash from operations -- 611,973 841,534 931,085

Change in fixed assets (CAPEX) -- (203,000) (197,000) (200,000)

Cash from investing -- (203,000) (197,000) (200,000)

Change in debt -- (200,000) (200,000) (200,000)

Change in contributed capital -- - - -

Cash from financing -- (200,000) (200,000) (200,000)

Beginning cash -- 500,000 708,973 1,153,507

Change in cash -- 208,973 444,534 531,085

Ending cash 500,000 708,973 1,153,507 1,684,592

 Report generated on Dec. 31, 20XX | 11

Cash Flow CASH FROM OPERATING ACTIVITIES

Net Income $99,500

Statement Depreciation $6,500

Changes in Current Assets and Liabilities ($12,000)

20X1 Q1 Q2 Net Cash From Operating Activities $94,000

Q3 Q4 CASH FROM INVESTING ACTIVITIES

Fixed Asset Purchases ($28,000)

20X2 Net Cash From Investing Activities ($28,000)

20X3 CASH FROM FINANCING ACTIVITIES

Bank loan payments ($9,500)

20X4 Net Cash From Financing Activities ($9,500)

Net Change in Cash $56,500

Beginning Cash Balance $27,200

Ending Cash Balance $83,700

 Report generated on Dec. 31, 20XX | 12

Balance Sheet Data Visualization Assets = $375,319M

Cash
Net Income
Marketable Securities
Inventories
Stock Buybacks
Other Assets
PPE, net
Dividends
Accounts Receivable

Liability & Equity =

$375,319M

Accounts Payable
Deferred Revenue
Debt
Other Liabilities
Contribution Capital
Earned Capital

Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9
 Report generated on Dec. 31, 20XX 013
|

Balance Sheet Graph

Cash & equivalents As of December 31, 2023

All figures in billion USD Accounts payable
23.6
64.1
Marketable securities
Current
24.6 Current
135.4 154.0 Other current
Account receivable
Assets Liabilities 60.8
28.2
Inventories 352.8 302.1
Deferred revenue
4.9
7.9
Vendor receivable
32.7 Commercial paper

Other current
10.0
21.2 Short-term debt
11.1
Marketable securities
120.8 Long-term debt
99.0
Long-term
Property, plant &
equipment Fixed
148.1
42.1 217.4 Retained earnings Other non-current
(3.1) 49.1
Other non-current Accumulated loss
Shareholder’s equity
54.4 (11.1) 64.9
 Report generated on Dec. 31, 20XX | 14

Cash Flow Analysis

Adv Education 10.55% (5.2)

Taxes 62.68% (30.9)

Health 37.32% (18.4)

Revenue Spending Operations

Education 14.81% (7.3)
Resource Royalties
100% (49.3) 100% (49.3) 100% (49.3)
8.52%(4.2)
Human Services 8.52% (4.2)
Investment Income 2.84%

Federal Transfers 2.64% Treasury Board 8.52%(4.2)

Justice 2.64%(1.3)
Other Revenue
10.55% (5.2)

Other Ministries 23.33%(11.5)

Borrowing 12.78% (6.3)

Revenue Detail Revenue Expenditure Expenditure Detail Outflows

 Report generated on Dec. 31, 20XX | 15

Annual Post-Tax Cash Flow

NSR CAPEX (Initial, Sustaining) On-Site OPEX Working Capital Cumulative After Tax Cash Flow

250 250

Cumulative Undiscounted Cash Flow ()C$M

200 200

150
Period Cash Flow (C$M)

150

100
100
50
50
0
0
-50
-50
-100

-100
-150

-150 -200

-200 -250
Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13

Operating Year
 Report generated on Dec. 31, 20XX | 16

Cumulative Cash Flow Diagram

200 Best
Base
Cumulative Cash Position (Million USD)

Payback period
Worst
150 1 Construction Period
Depreciation 1.17
Yrs
6
2 Land Cost

100 1.80
Yrs 3 Fixed Capital

4 Working Capital
50 3.06
Yrs
1 5 Depreciation

2
6 Land Salvage, Working
3 capital recovery
5
4
-50
-3 -1 1 3 5 7 9 11 13 15 17 19 21

Plant Service Life (years)

 Report generated on Dec. 31, 20XX | 17

Income Statement as Waterfall

Chart
All numbers in billion USD
Previous Year Current Year Y-o-Y Change

Revenues 111 137 26.0

Total costs and expenses -84.7 -110 -25.8

Operating income 26.1 26.3 0.2

(24%) (19%) (1%)

Other income (expense) 1.0 8.6 7.5

Income taxes -14.5 -4.2 10.4

Net income 12.7 30.7 18.1

(1%, 18.00 EPS) (22%, 43.70 EPS) (70%, 25.70EPS)
 Report generated on Dec. 31, 20XX | 18

Assets Liabilities

100% 100%

&
50% 50%

0% 0%
Year 1 Year 2 Year 3 Year 4 Year 1 Year 2 Year 3 Year 4

Intagible Current Non-current Equity Long-term Liabilities Current Liabilities

$51.5M+Total Assets $38.2M+ Total Liabilities

A stacked column showing total assets A stacked column showing total liabilities
over the course of 4 years, assets have over the course of 4 years, liabilities have
been valued at a total of 51.5M been valued at a total of 38.2M
 Report generated on Dec. 31, 20XX | 19

Key Financial Ratios

Price to Earnings Ratio Debt to Equity Ratio Current Ratio

Q2 FYX2 12 Q2 FYX2 1.2 Q2 FYX2 2.4

Q2 FYX1 9  33% Q2 FYX1 1.4  14% Q2 FYX1 2.4 0%

Return on Assets Return on Equity Return on Investment

Q2 FYX2 22% Q2 FYX2 18% Q2 FYX2 13%

Q2 FYX1 19%  16% Q2 FYX1 15%  20% Q2 FYX1 18%  28%

 Report generated on Dec. 31, 20XX 020
|

60B

45B 75B
100B (57%)
Gross Margin (GM)

30B 90B

57B (37%)
Operating Expense (OPEX)

15B 105B
40B (16%)
Earnings Before Interest & Taxes (EBIT)

Financial 24B (14%)

Indicators Profit Before Tax (PBT)
0B 120B

Return on Asset Return on Equity Return on Invested Capital

ROA 18.7% ROE 19.2% ROIC 12.8%
 Report generated on Dec. 31, 20XX | 21

Liquidity Ratios

1.8 1.6 1.3

Current Ratio Quick Ratio Net Working Capital Ratio

Current Assets Current Assets − Inventories Current Assets − Current Liabilities
Current Liabilities Current Liabilities Total assets

Our current ratio suggests efficient We’re able to fulfill short-term There’s a comfortable buffer
management of assets to cover obligations with our most liquid above our current liabilities. We
obligations, though a balance assets. This liquidity stance allows us are well positioned to absorb
should be maintained to avoid to handle sudden financial needs financial shocks and pursue
underutilization of resources. without relying on inventory sales. investment opportunities.