CEO Financial Assistant

THE CEO FINANCIAL ASSISTANT™
Simple to operate and especially designed for the CEO, The CEO Financial Assistant™ creates a
concise corporate financial analysis report. It has at its core a framework that can be altered to
specific needs.
Accompanying The CEO Financial Assistant™ is a linked PowerPoint® Presentation of key charts.
Proficiency in Microsoft Excel® and PowerPoint® is assumed.
For Best Viewing, please set your Screen Resolution to the highest resolution.
© Copyright, 2009, JaxWorks, All Rights Reserved.
Please Note: There is No Support For Free Downloads

Please Note: There is No Support For Free Downloads

TABLE OF CONTENTS
Introduction Auto Charts Net Income Chart Current Ratio Chart

Instructions Optimal Performance Assets Chart Quick Ratio Chart
Master Data Entry Break-Even Liabilities Chart Working Capital Chart
Turnover Data Chart Annual Income Chart Balance Sheet Chart Stock Evaluation
Expenses Data ChartQuarterly Income ChartCash Flow Statement Dashboard
What-If Period 1 Sales Chart Cash Flow Chart Support
What-If Period 2 Direct Expenses ChartCash Flow Projections Copyright
What-If Period 3 Total Expenses Chart
Cash Flow Projections Chart
License Agreement
What-If Period 4 Gross Profit Chart Ratios
What-If Overview EBIT Chart Z-Score Chart

INSTRUCTIONS
You will be posting numbers from your financial statements to The Master Data Entry worksheet.
This worksheet drives all other analysis sheets and charts.
The s haded c ells contain formulas and are automatically calculated by Exc el. DO N OT enter any information into them.
Enter numbers where they are BLUE.
You may want to group all of the charts together at the end of the workbook by moving them to the order you prefer. This
will not effect the Table of Contents worksheet, however, changing tab names will corrupt the hyperlinks.
Each worksheet has been preset for printing at "Fit To 1:1", however, you may have to adjust some settings to your
printer.
The experienced spreadsheet operator can alter this product to produce a 4 year analysis rather than by quarter.
For Best Viewing Please Set Your Screen Resolution to 1024 X 768 Pixels.

Clear
Add Worksheet
Sample
Year of ProjectionData
MASTER DATA ENTRY SHEET
Corporation Type (C or S)?

Operating Data
2000
C 'C' Corporation format selected; income taxes WILL be computed
1st Qtr 2nd Qtr 3rd Qtr
• Table of Contents
4th Qtr
Days sales in accounts receivable 30 30 30 30
Days materials cost in inventory 30 30 30 30
Days finished goods in inventory 45 45 45 45
Days materials cost in payables 60 60 60 60
Days payroll expense accrued 7 7 7 7
Days operating expense accrued 20 20 20 20
Expense Data
Direct labor as % of sales 16.00% of sales $320,000 $240,000 $208,000 $321,616
Other payroll as % of sales 12.00% of sales $240,000 $180,000 $156,000 $241,212
Payroll taxes as % of payroll 10.00% of payroll $56,000 $42,000 $36,400 $56,283
Insurance as % of payroll 5.00% of payroll $28,000 $21,000 $18,200 $28,141
Legal/accounting as % of sales 2.00% of sales $40,000 $30,000 $26,000 $40,202
Office overhead as % of sales 3.00% of sales $60,000 $45,000 $39,000 $60,303
Financing Data (0 on) Depreciation Capital Current Portion LT Portion Rate

Long term debt $100,000 $500,000 10.00%
Short-term debt $50,000 10.00%
Capital stock issued $100,000
Additional paid-in capital $50,000
Accumulated depreciation (as of 1999) $400,000

INCOME STATEMENT
Forecasted Total
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Annualized
Sales
Sales $2,000,000 $1,500,000 $1,300,000 $2,010,100 $6,810,100
Cost of sales $945,000 $865,000 $833,000 $1,071,616 $3,714,616
Gross profit $1,055,000 $635,000 $467,000 $938,484 $3,095,484
Expenses
Operating expenses $424,000 $318,000 $275,600 $426,141 $1,443,741
Interest $16,250 $16,250 $16,250 $16,250 $65,000
Depreciation $32,500 $33,958 $33,958 $33,958 $134,374
Amortization $1,250 $1,250 $1,250 $1,250 $5,000
Total expenses $474,000 $369,458 $327,058 $477,599 $1,648,115
Operating income $581,000 $265,542 $139,942 $460,885 $1,447,369
Other income and expenses

Gain (loss) on sale of assets $100,000 $10,000 $3,000 $405,700 $518,700
Other (net) $20,000 $50,000 $100,000 $200,000 $370,000
Subtotal $120,000 $60,000 $103,000 $605,700 $888,700
Income before tax $701,000 $325,542 $242,942 $1,066,585 $2,336,069

Please enter a tax percentage
Taxes @ 30% $210,300 $97,663 $72,883 $319,975 $700,821
Net income $490,700 $227,879 $170,059 $746,609 $1,635,248
Retained earnings-beginning $1,400,000 $1,890,700 $2,118,579 $2,288,638 $1,400,000
Dividends paid $0 $0 $0 $50,000 $50,000
Retained earnings-ending $1,890,700 $2,118,579 $2,288,638 $2,985,247 $2,985,248
Detailed Supporting Information
Cost of sales
Direct labor $320,000 $240,000 $208,000 $321,616 $1,089,616
Direct Materials $500,000 $500,000 $500,000 $500,000 $2,000,000
Other costs $125,000 $125,000 $125,000 $250,000 $625,000
Depreciation: Enter the numbers of years.

30 year Buildings $12,500 $12,083 $12,083 $12,083 $48,749
10 year Equipment $20,000 $21,875 $21,875 $21,875 $85,625
Interest: Percentages from Data sheet

10.00% Long-Term $1,250 $1,250 $1,250 $1,250 $5,000
10.00% Short-Term $15,000 $15,000 $15,000 $15,000 $60,000
BALANCE SHEET
Actual Forecast
1999 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
ASSETS
Current Assets
Cash and cash equivalents $451,000 $90,360 $289,233 $614,196 $1,267,364
Accounts receivable $350,000 $657,534 $493,151 $427,397 $660,855
Inventory $400,000 $630,411 $590,959 $575,178 $692,852
Other current assets $10,000 $60,000 $45,090 $76,320 $50,000
Total Current Assets $1,211,000 $1,438,305 $1,418,433 $1,693,091 $2,671,071
Fixed Assets
Land $100,000 $112,500 $125,000 $137,500 $150,000
Buildings $1,500,000 $1,450,000 $1,450,000 $1,450,000 $1,450,000
Equipment $800,000 $875,000 $875,000 $875,000 $875,000
Subtotal $2,400,000 $2,437,500 $2,450,000 $2,462,500 $2,475,000
Less-accumulated depreciation $400,000 $432,500 $466,458 $500,416 $534,374
Total Fixed Assets $2,000,000 $2,005,000 $1,983,542 $1,962,084 $1,940,626
Intangible Assets
Cost $50,000 $50,000 $50,000 $50,000 $50,000
Less-accumulated amortization $20,000 $21,250 $22,500 $23,750 $25,000
Total Intangible Assets $30,000 $28,750 $27,500 $26,250 $25,000
Other assets $25,000 $33,000 $120,000 $5,000 $23,000

Total Assets $3,266,000 $3,505,055 $3,549,475 $3,686,425 $4,659,697
Actual Forecast
LIABILITIES AND 1999 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $600,000 $328,767 $328,767 $328,767 $328,767
Notes payable $100,000 $50,000 $50,000 $50,000 $50,000
Current portion of long-term debt $100,000 $100,000 $100,000 $100,000 $100,000
Income taxes $30,000 $183,300 $70,663 $45,883 $292,975
Accrued expenses $90,000 $83,288 $62,466 $54,137 $83,708
Other current liabilities $16,000 $12,000 $12,000 $12,000 $12,000
Total Current Liabilities $936,000 $757,355 $623,896 $590,787 $867,450
Non-Current Liabilities
Long-term debt $600,000 $500,000 $500,000 $500,000 $500,000
Deferred income $100,000 $90,000 $90,000 $90,000 $90,000
Deferred income taxes $30,000 $27,000 $27,000 $27,000 $27,000
Other long-term liabilities $50,000 $90,000 $40,000 $40,000 $40,000
Total Liabilities $1,716,000 $1,464,355 $1,280,896 $1,247,787 $1,524,450
Stockholders' Equity
Capital stock issued $100,000 $100,000 $100,000 $100,000 $100,000
Additional paid in capital $50,000 $50,000 $50,000 $50,000 $50,000
Retained earnings $1,400,000 $1,890,700 $2,118,579 $2,288,638 $2,985,247
Other $0 $0 $0 $0 $0
Stockholders Equity $1,550,000 $2,040,700 $2,268,579 $2,438,638 $3,135,247
Total Liabilities and Equity $3,266,000 $3,505,055 $3,549,475 $3,686,425 $4,659,697
"C" Corporation (Y/N) Y

Cash balance positive or (negative) Positive Positive Positive Positive Positive
Amount sheet is out-of-balance $0 $0 $0 $0 $0
Amount cash flow out-of-balance $0 $0 $0 $0

DATA CHART - TURNOVER • Table of Contents
60
55
50
45
Number of Days
40
35
30
25
20
15
10
5
0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Days payroll expense accrued Days operating expense accrued Days sales in accounts receivable Days materials cost in inventory
Days finished goods in inventory Days materials cost in payables

DATA CHART - EXPENSES • Table of Contents
$325,000
$300,000
$275,000
$250,000
$225,000
$200,000
$175,000
$150,000
$125,000
$100,000
$75,000
$50,000
$25,000
$0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Row 21 Row 22 Row 20 Row 23 Row 19 Row 18

What-If Period 1 Reset This Worksheet • Table of Contents
1st Qtr
Actuals What-If Scenario
Net Sales Revenue $2,000,000 $2,000,000 Actuals
LESS Cost of Sales $945,000 $945,000
Gross Profit $1,055,000 $1,055,000 What-
PLUS Other Income $120,000 $120,000 If
Scen
LESS All Expenses $474,000 $474,000 ario
Income Before Tax $701,000 $701,000 $0 $250.0K $500.0K $750.0K $1.0M $1.3M $1.5M $1.8M $2.0M
LESS Income Taxes $210,300 $210,300 Net Income Gross Profit Net Sales
Net Income (Loss) $490,700 $490,700 (Loss) Revenue

2nd Qtr
Gross Profit $635,000 $635,000 What-
Scen
Income Before Tax $325,542 $325,542 $0 $250.0K $500.0K $750.0K $1.0M $1.3M $1.5M

3rd Qtr
Scen
Income Before Tax $242,942 $242,942 $0 $250.0K $500.0K $750.0K $1.0M $1.3M $1.5M

4th Qtr
LESS Cost of Sales $1,071,616 $1,071,616
Scen
Income Before Tax $1,066,585 $1,066,585 $0 $250.0K $500.0K $750.0K $1.0M $1.3M $1.5M $1.8M $2.0M $2.3M

What-If Summary • Table of Contents
1st Qtr
Sales Revenue $2,000,000 $2,000,000 Ac-
tuals
Gross Profit $1,055,000 $1,055,000 What-
Scen
LESS Income Taxes $210,300 $210,300 Net Income Gross Profit Sales Revenue
Net Income (Loss) $490,700 $490,700 (Loss)
2nd Qtr
Sales Revenue $1,500,000 $1,500,000 Ac-
tuals
Scen

3rd Qtr
Sales Revenue $1,300,000 $1,300,000 Ac-
tuals
Scen
4th Qtr
Sales Revenue $2,010,100 $2,010,100 Ac-
tuals
LESS Cost of Sales $1,071,616 $1,071,616
Scen
Income Before Tax $1,066,585 $1,066,585 $0 $250.0K $500.0K $750.0K $1.0M $1.3M $1.5M $1.8M $2.0M

Sales and Total Cost of Sales
AUTO CHARTING • Table of Contents

2,250,000
From Financial Statement 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 2,000,000
Sales 2,000,000 1,500,000 1,300,000 2,010,100 1,750,000
Direct Labor Cost 320,000 240,000 208,000 321,616 1,500,000
Direct Materials Cost 500,000 500,000 500,000 500,000 1,250,000
Other Direct Costs 125,000 125,000 125,000 250,000 1,000,000
Total Cost of Sales 945,000 865,000 833,000 1,071,616 750,000
Gross Profit 1,055,000 635,000 467,000 938,484 500,000
Total Expenses 474,000 369,458 327,058 477,599 250,000
Operating income 581,000 265,542 139,942 460,885 0
Income Before Tax 701,000 325,542 242,942 1,066,585 1st Qtr
3rd Qtr 4th Qtr
Income Taxes 210,300 97,663 72,883 319,975
Net Income 490,700 227,879 170,059 746,609
© Copyright, 2009, JaxWorks, All Rights Reserved. Sales Total Cost

of Sales

Optimal Quarterly Performance Analysis • Table of Contents
Average Qtr Performance Optimal Qtr Performance Variance

$ % $ % $
Total Sales $1,702,525 100.00% 2,010,100 100.00% 307,575
Total Cost of Goods Sold 928,654 54.55% 833,000 41.44% (95,654)
Gross Profit 773,871 45.45% 1,055,000 52.48% 281,129
Total Operating Expenses 412,029 24.20% 327,058 16.27% (84,971)
Operating Income 361,842 21.25% 581,000 28.90% 219,158
Net Income (Loss) 408,812 24.01% 746,609 37.14% 337,797

Break-Even Analysis • Table of Contents
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Annual

Sales 2,000,000 1,500,000 1,300,000 2,010,100 6,810,100
Contribution Margin 1,055,000 635,000 467,000 938,484 3,095,484
Contribution Margin Ratio 52.75% 42.33% 35.92% 46.69% 45.45%
Total Fixed Expenses 474,000 369,458 327,058 477,599 1,648,115
Total Fixed Expenses Ratio 23.70% 24.63% 25.16% 23.76% 24.20%
Break-Even Sales 898,578 872,735 910,440 1,022,950 3,625,872
Break-Even % 44.93% 58.18% 70.03% 50.89% 53.24%
Annual Date of Break-Even 7/12
Operating Profit 581,000 265,542 139,942 460,885 1,447,369
Break-Even Analysis
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
Row 17
Row 10
Row 11
Row 12
Row 13
Row 14
Row 15
Row 16
Row 18
Row 19
Row 20
Row 21
Row 22

INCOME SUMMARY CHART - ANNUALIZED • Table of Contents
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
Annualized
Row 48 Row 66 Row 62 Row 45 Row 42

INCOME SUMMARY CHART - 4 QTRS • Table of Contents
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$750,000
$500,000
$250,000
$0
4th Qtr
Row 48 Row 54 Row 45 Row 42

SALES CHART • Table of Contents
$2,250,000
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$750,000
$500,000
$250,000
$0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr

DIRECT OPERATING EXPENSES CHART • Table of Contents
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1st Qtr 2nd Qtr
3rd Qtr
4th Qtr
Other costs Direct labor Direct Materials

TOTAL OPERATING EXPENSES CHART • Table of Contents
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr

GROSS PROFIT CHART • Table of Contents
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr

EARNING BEFORE INCOME TAX CHART • Table of Contents
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr

NET INCOME CHART • Table of Contents
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr

ASSETS CHART • Table of Contents
$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
Column H Column I Column J
Column K
Row 120 Row 107 Row 115 Row 123

LIABILITIES CHART • Table of Contents
$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
4th Qtr
Row 135 Row 143 Row 150 Row 152

BALANCE SHEET SUMMARY CHART • Table of Contents
$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
1999 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Row 120 Row 135 Row 107 Row 150 Row 143 Row 115 Row 123 Row 152

CASH FLOW STATEMENT • Table of Contents
Forecasted Total
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 4 Quarters
Cash from operations
Net earnings (loss) $490,700 $227,879 $170,059 $746,609 $1,635,247
Add-depreciation and amortization $33,750 $35,208 $35,208 $35,208 $139,374
Net cash from operations $524,450 $263,087 $205,267 $781,817 $1,774,621
Cash provided (used) by

operating activities
Accounts Receivable ($307,534) $164,383 $65,754 ($233,458) ($310,855)
Inventory ($230,411) $39,452 $15,781 ($117,674) ($292,852)
Other current assets ($50,000) $14,910 ($31,230) $26,320 ($40,000)
Other non-current assets ($8,000) ($87,000) $115,000 ($18,000) $2,000
Accounts payable ($271,233) $0 $0 $0 ($271,233)
Current portion of long-term debt $0 $0 $0 $0 $0
Income taxes $153,300 ($112,637) ($24,780) $247,092 $262,975
Accrued expenses ($6,712) ($20,822) ($8,329) $29,571 ($6,292)
Other current liabilities ($4,000) $0 $0 $0 ($4,000)
Dividends paid $0 $0 $0 ($50,000) ($50,000)
Net cash from operations ($724,590) ($1,714) $132,196 ($116,149) ($710,257)
Investment transactions
Increases (decreases)
Land $12,500 $12,500 $12,500 $12,500 $50,000
Buildings and improvements ($50,000) $0 $0 $0 ($50,000)
Equipment $75,000 $0 $0 $0 $75,000
Intangible assets $0 $0 $0 $0 $0
Net cash from investments $37,500 $12,500 $12,500 $12,500 $75,000
Financing transactions
Short term notes payable ($50,000) $0 $0 $0 ($50,000)
Long term debt ($100,000) $0 $0 $0 ($100,000)
Deferred income ($10,000) $0 $0 $0 ($10,000)
Deferred income taxes ($3,000) $0 $0 $0 ($3,000)
Other long-term liabilities $40,000 ($50,000) $0 $0 ($10,000)
Capital stock and paid in capital $0 $0 $0 $0 $0
Net cash from financing ($123,000) ($50,000) $0 $0 ($173,000)
Net increase (decrease) in cash ($360,640) $198,873 $324,963 $653,168 $816,364
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 $1,267,364 $1,267,364

CASH FLOW CHART • Table of Contents
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
4th Qtr
Cash at the end of

period

CASH FLOW PROJECTIONS - 8 YEARS • Table of Contents
Current Forecasted-Linear Regression Analysis

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 5th Qtr 6th Qtr 7th Qtr 8th Qtr
Cash from operations 1 2 3 4 5 6 7 8
Net earnings (loss) $490,700 $227,879 $170,059 $746,609 $586,289 $657,279 $728,270 $799,261
Add-depreciation and amortization $33,750 $35,208 $35,208 $35,208 $35,937 $36,374 $36,812 $37,249
Net cash from operations $524,450 $263,087 $205,267 $781,817 $622,226 $693,654 $765,082 $836,510
Cash provided (used) by

operating activities
Accounts Receivable ($307,534) $164,383 $65,754 ($233,458) ($46,814) ($34,454) ($22,094) ($9,734)
Inventory ($230,411) $39,452 $15,781 ($117,674) $5,422 $36,876 $68,330 $99,784
Other current assets ($50,000) $14,910 ($31,230) $26,320 $35,705 $53,987 $72,269 $90,551
Other non-current assets ($8,000) ($87,000) $115,000 ($18,000) $43,500 $60,700 $77,900 $95,100
Accounts payable ($271,233) $0 $0 $0 $135,617 $216,986 $298,356 $379,726
Current portion of long-term debt $0 $0 $0 $0 $0 $0 $0 $0
Income taxes $153,300 ($112,637) ($24,780) $247,092 $158,052 $194,975 $231,899 $268,822
Accrued expenses ($6,712) ($20,822) ($8,329) $29,571 $28,763 $40,897 $53,031 $65,165
Other current liabilities ($4,000) $0 $0 $0 $2,000 $3,200 $4,400 $5,600
Dividends paid $0 $0 $0 ($50,000) ($50,000) ($65,000) ($80,000) ($95,000)
Net cash from operations ($724,590) ($1,714) $132,196 ($116,149) $312,244 $508,167 $704,091 $900,014
Investment transactions
Land $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500
Buildings and improvements ($50,000) $0 $0 $0 $25,000 $40,000 $55,000 $70,000
Equipment $75,000 $0 $0 $0 ($37,500) ($60,000) ($82,500) ($105,000)
Intangible assets $0 $0 $0 $0 $0 $0 $0 $0
Net cash from investments $37,500 $12,500 $12,500 $12,500 $0 ($7,500) ($15,000) ($22,500)
Financing transactions
Short term notes payable ($50,000) $0 $0 $0 $25,000 $40,000 $55,000 $70,000
Long term debt ($100,000) $0 $0 $0 $50,000 $80,000 $110,000 $140,000
Deferred income ($10,000) $0 $0 $0 $5,000 $8,000 $11,000 $14,000
Deferred income taxes ($3,000) $0 $0 $0 $1,500 $2,400 $3,300 $4,200
Other long-term liabilities $40,000 ($50,000) $0 $0 ($20,000) ($27,000) ($34,000) ($41,000)
Capital stock and paid in capital $0 $0 $0 $0 $0 $0 $0 $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 $653,168 $995,970 $1,312,721 $1,629,472 $1,946,224
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 $1,267,364 $1,529,282 $1,914,880 $2,300,477 $2,686,075

CASH FLOW PROJECTIONS - 8 YEARS • Table of Contents
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1st Qtr 3rd Qtr 4th Qtr 5th Qtr
6th Qtr 7th Qtr
8th Qtr
Cash at the end of

period

FINANCIAL RATIOS • Table of Contents
Description 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Altman Z Score 3.74 3.58 3.57 4.24
Liquidity Ratios
Current Ratio 1.90 2.27 2.87 3.08
Gross Margin Percentage 107% 133% 189% 228%
Quick Ratio 1.07 1.33 1.89 2.28
Activity Ratios
Days Sales in AR 29.59 29.59 29.59 29.59
Inventory Turnover 1.50 1.46 1.45 1.55
Days Inventory 60.04 61.49 62.14 58.19
Net Sales to Inventory 3.17 2.54 2.26 2.90
Days Purchases in AP 31.31 34.21 35.52 27.61
Working Capital $680,950 $794,537 $1,102,304 $1,803,621
Net Sales to Working Capital 2.94 1.89 1.18 1.11
Total Assets to Net Sales 1.75 2.37 2.84 2.32
Net Sales to AR 3.04 3.04 3.04 3.04
Net Sales to Net Fixed Assets 1.00 0.76 0.66 1.04
Net Sales to Total Assets 0.57 0.42 0.35 0.43
Net Sales to Net Worth 0.98 0.66 0.53 0.64
Amortization and Depreciation Expense to Net Sales 0.001 0.001 0.001 0.001
Profitability Ratios
Gross Profit Percentage 52.75% 42.33% 35.92% 46.69%
Operating Expenses as % of Net Sales 21.20% 21.20% 21.20% 21.20%
Return on Total Assets 14.00% 6.42% 4.61% 16.02%
Return on Net Worth 24.05% 10.05% 6.97% 23.81%
Return on Net Sales 24.54% 15.19% 13.08% 37.14%
Income before tax to Net Worth 34% 14% 10% 34%
Income before tax to Total Assets 20% 9% 7% 23%
Retained Earning to Net Income 385% 930% 1346% 400%
Coverage Ratios
Times Interest Earned 35.75 16.34 8.61 28.36
Interest Expense to Net Sales 0.01 0.01 0.01 0.01
Current Liabilities to Net Worth 0.37 0.28 0.24 0.28
Current Liabilities to Inventory 1.20 1.06 1.03 1.25
AP to Net Sales 0.16 0.22 0.25 0.16
Total Liabilities to Net Worth 0.72 0.56 0.51 0.49
Net Worth to Total Liabilities 1.39 1.77 1.95 2.06

Z-SCORE CHART • Table of Contents
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
-
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Altman Z Score

CURRENT RATIO CHART • Table of Contents
3.25
3.00
2.75
2.50
2.25
2.00
1.75
1.50
1.25
1.00
0.75
0.50
0.25
-

QUICK RATIO CHART • Table of Contents
2.50
2.25
2.00
1.75
1.50
1.25
1.00
0.75
0.50
0.25
-

WORKING CAPITAL CHART • Table of Contents
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$750,000
$500,000
$250,000
$0

COMPANY STOCK VALUATION • Table of Contents
Enter Data Formatted in Blue - Shaded Cells Contain Formula.

Given the following assumptions, compute the value per share of the firm.
Return on incremental investment beginning 3rd Quarter 20%

Plowback rate beginning 3rd Quarter 30%
Weighted average cost of capital 12%
Tax rate 30%
Sales $1,500,000 $1,300,000 $2,010,100

Earnings before interest and taxes (EBIT) $325,542 $242,942 $1,066,585
Taxes on EBIT @ 40% ($97,663) ($72,883) ($319,975)
EBIAT $227,879 $170,059 $746,609
Current assets less marketable securities $1,338,305 $1,418,433 $1,693,091

Current liabilities $757,355 $623,896 $590,787
Adjusted net working capital $580,950 $794,537 $1,102,304
Gross property, plant and equipment $2,437,500 $2,450,000 $2,462,500

Accumulated depreciation $432,500 $466,458 $500,416
Net property, plant and equipment $2,005,000 $1,983,542 $1,962,084
Invested capital $2,585,950 $2,778,079 $3,064,388 $3,288,371
EBIAT $227,879 $170,059 $746,609

Less change in invested capital ($192,129) ($286,309) ($223,983)
Free cash flow $35,750 ($116,250) $522,627
Terminal value $9,233,069
Total $35,750 ($116,250) $9,755,696
PV factor 89.29% 79.72% 71.18%
PV of cash flow and terminal value $31,920 ($92,673) $6,943,911
Cumulative PV $31,920 ($60,753) $6,883,158
Enterprise value $6,883,158
Plus marketable securities $100,000
Less short-term debt ($328,767)
Less long-term debt ($500,000)
Equity value $6,154,391
Divide by number of shares outstanding $100,000
Value per share $61.54
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DASHBOARD
Altman Z-Score
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
-
Expenses Break-Even Analysis

$7,000,000
$6,500,000
$325,000
$300,000 $6,000,000
$275,000 $5,500,000
$250,000 $5,000,000
$225,000
$4,500,000
$200,000
$175,000 $4,000,000
$150,000 $3,500,000
$125,000 $3,000,000
$100,000
$75,000 $2,500,000
$50,000 $2,000,000
$25,000 $1,500,000
$0
1st Qtr
2nd Qtr
$1,000,000
3rd Qtr
4th Qtr $500,000
$0
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
15
20
10
11
12
13
14
16
17
18
19
21
22
Row 21 Row 22 Row 20 Row 23 Row 19 Row 18
Annual Income Quarterly Income
$7,000,000 $2,250,000
$6,500,000
$6,000,000 $2,000,000
$5,500,000 $1,750,000
$5,000,000
$1,500,000
$4,000,000
$1,250,000
$3,000,000 $1,000,000
$750,000
$2,000,000
$500,000
$1,000,000
$250,000
$0 $0
1st Qtr
2nd Qtr
Annualized 3rd Qtr
4th Qtr
Row 48 Row 66 Row 62 Row 45 Row 42 Row 48 Row 54 Row 45 Row 42
Sales Direct Expenses
$2,250,000 $500,000
$2,000,000 $450,000
$1,750,000 $400,000
$1,500,000 $350,000
$1,250,000 $300,000
$250,000
$1,000,000
$200,000
$750,000
$150,000
$500,000
$100,000
$250,000
$50,000
$0
$0
1st Qtr 2nd Qtr 1st Qtr
3rd Qtr 2nd Qtr 3rd Qtr
4th Qtr 4th Qtr
Total Expenses Gross Profit
$500,000 $1,100,000
$450,000 $1,000,000
$400,000 $900,000
$350,000 $800,000
$700,000
$300,000
$600,000
$250,000
$500,000
$200,000
$400,000
$150,000 $300,000
$100,000 $200,000
$50,000 $100,000
$0 $0
1st Qtr 2nd Qtr 1st Qtr 2nd Qtr
3rd Qtr 4th Qtr 3rd Qtr 4th Qtr
Earnings Before Income Taxes Net Income
$1,100,000 $750,000
$1,000,000 $700,000
$650,000
$900,000 $600,000
$800,000 $550,000
$700,000 $500,000
$600,000 $400,000
$500,000
$400,000 $300,000
$300,000 $200,000
$200,000
$100,000
$100,000
$0 $0
1st Qtr 2nd Qtr 1st Qtr 2nd Qtr
3rd Qtr 4th Qtr 3rd Qtr 4th Qtr
Assets Liabilities
$5,000,000 $5,000,000
$4,500,000 $4,500,000
$4,000,000 $4,000,000
$3,500,000 $3,500,000
$3,000,000 $3,000,000
$2,500,000 $2,500,000
$2,000,000 $2,000,000
$1,500,000 $1,500,000
$1,000,000 $1,000,000
$500,000 $500,000
$0 $0
Column H 1st Qtr
Column I 2nd Qtr
Column J 3rd Qtr
Column K 4th Qtr
Balance Sheet Summary Cash Flow - 4 Quarters
$5,000,000 $1,300,000
$4,500,000 $1,200,000
$4,000,000 $1,100,000
$3,500,000 $1,000,000
$900,000
$3,000,000
$800,000
$2,500,000
$700,000
$2,000,000 $600,000
$1,500,000 $500,000
$1,000,000 $400,000
$500,000 $300,000
$0 $200,000
1999 1st Qtr $100,000
2nd Qtr
3rd Qtr $0
4th Qtr 1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Cash Flow Projections - 8 Periods Working Capital

$2,000,000
$2,750,000 $1,800,000
$2,500,000
$2,250,000 $1,600,000
$2,000,000 $1,400,000
$1,750,000
$1,200,000
$1,500,000
$1,250,000 $1,000,000
$1,000,000
$800,000
$750,000
$500,000 $600,000
$250,000
$0 $400,000
1st Qtr 2nd Qtr
3rd Qtr 4th Qtr 5th Qtr 6th Qtr
$200,000
7th Qtr
8th Qtr
$0
Current Ratio Quick Ratio

3.25 2.50
3.00
2.25
2.75
2.50 2.00
2.25 1.75
2.00
1.50
1.75
1.25
1.50
1.25 1.00
1.00
0.75
0.75
0.50
0.50
0.25 0.25
- -
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Since 1996, JaxWorks has offered a suite of Free Excel workbooks and spreadsheets, and asso
HTML documents, that cover a number of financial, accounting and sales functions. These are i
Also included Free are:

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- Excel functions glossary and guide;
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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 o
suite this site is invaluable.
JaxWorks Small Business Spreadsheet Factory

spreadsheets, and associated MS Word, PDF and
s functions. These are invaluable small business tools.
ns
uides are in
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There is no support for Free downloads.

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THE CEO FINANCIAL ASSISTANT™

Proficiency in Microsoft Excel® and PowerPoint® is assumed.

© Copyright, 2009, JaxWorks, All Rights Reserved.

Please Note: There is No Support For Free Downloads

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Introduction Auto Charts Net Income Chart Current Ratio Chart

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Corporation Type (C or S)?

Financing Data (0 on) Depreciation Capital Current Portion LT Portion Rate

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Gross profit $1,055,000 $635,000 $467,000 $938,484 $3,095,484

Operating income $581,000 $265,542 $139,942 $460,885 $1,447,369

Other income and expenses

Income before tax $701,000 $325,542 $242,942 $1,066,585 $2,336,069

Net income $490,700 $227,879 $170,059 $746,609 $1,635,248

Retained earnings-beginning $1,400,000 $1,890,700 $2,118,579 $2,288,638 $1,400,000

Dividends paid $0 $0 $0 $50,000 $50,000

Retained earnings-ending $1,890,700 $2,118,579 $2,288,638 $2,985,247 $2,985,248

Detailed Supporting Information

Depreciation: Enter the numbers of years.

Interest: Percentages from Data sheet

Other assets $25,000 $33,000 $120,000 $5,000 $23,000

Total Liabilities $1,716,000 $1,464,355 $1,280,896 $1,247,787 $1,524,450

Total Liabilities and Equity $3,266,000 $3,505,055 $3,549,475 $3,686,425 $4,659,697

"C" Corporation (Y/N) Y

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Row 21 Row 22 Row 20 Row 23 Row 19 Row 18

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AUTO CHARTING • Table of Contents

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Average Qtr Performance Optimal Qtr Performance Variance

Total Cost of Goods Sold 928,654 54.55% 833,000 41.44% (95,654)

Gross Profit 773,871 45.45% 1,055,000 52.48% 281,129

Total Operating Expenses 412,029 24.20% 327,058 16.27% (84,971)

Operating Income 361,842 21.25% 581,000 28.90% 219,158

Net Income (Loss) 408,812 24.01% 746,609 37.14% 337,797

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1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Annual

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Row 48 Row 66 Row 62 Row 45 Row 42

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Row 48 Row 54 Row 45 Row 42

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