Butler Lumber Company

Balance Sheet
Dec. 1988
ASSETS
Cash
Accounts receivable, net
Inventory
CURRENT ASSETS
Property, net
TOTAL ASSETS

58
171
239
468
126
594

Dec. 1989

Dec. 1990 Assumptions

48
222
326
596
140
736

41
317
418
776
157
933

1.52%
12%
16%

146

233

124
24
7
260
64
324
270
594

192
30
7
375
57
432
304
736

256
39
7
535
50
585
348
933

10.00
1%

1697

2013

2694

3600

183
1278
1461
239
1222
475
425
50

239
1524
1763
326
1437
576
515
61

326
2042
2368
418
1950
744
658
86

13
37
6
31

20
41
7
34

33
53
9
44

a/
Purchases/sales

75%

76%

76%

Purchases 1991 - Q1 of 1991

2062

Provision for income taxes

15% 0 to 50000
25% 50000 to 75000
35% 75000 +
641

6%

LIABILITIES AND NET WORTH

Notes payable, bank
Notes payable, Mr. Stark
Notes payable, trade
Accounts payable
Accrued expenses
Long-term debt, current portion
CURRENT LIABILITIES
Long-term debt
TOTAL LIABILITIES
Net worth
TOTAL LIABILITIES AND NET WORTH

105

Income Statement
Sales
Cost of goods sold
Beginning inventory
Purchases
Ending inventory
Total cost of goods sold
Gross profit
Operating expenses
Operating income
Plus: Purchase discount
Less: Interest expense
Net income before taxes
Provision for income taxes
Net income

Assets - Liabilties (without the Bank note) - Net worth

Net Income

76%

72%
24%
2%
10.50%

Average

81

76%

Projected Dec. 1991

54.79
424
559
1037
210
1247

641
0 Assumption
0 Assumption
75
52
7
775
43
818
429
1247

3600
418
2722
3140
559
2606
994
879
115
41
52
105
24
81

Butler Lumber Company

Balance Sheet
Funds Flow between 1988 and 1990
ASSETS
Cash
Accounts receivable, net
Inventory
CURRENT ASSETS
Property, net
TOTAL ASSETS
LIABILITIES AND NET WORTH
Notes payable, bank
Notes payable, Mr. Stark
Notes payable, trade
Accounts payable
Accrued expenses
Long-term debt, current portion
CURRENT LIABILITIES
Long-term debt
TOTAL LIABILITIES
Net worth
TOTAL LIABILITIES AND NET WORTH

-17
146
179
308
31
339

233
-105
0
132
15
0
275
-14
261
78
339

Funds Flow Statement

APPLICATIONS
Increase in Accounts Receivables
Increase in Inv.
Increase in Property
Notes payable, Mr. Starck
Decrease in LT debt
TOTAL APPLICATIONS

146
179
31
105
14
475

SOURCES
Decrease in Cash
Notes payable, bank
Increase in Accounts payable
Increase in Accrued Expenses
Increase in Net worth
TOTAL SOURCES

17
233
132
15
78
475