USD $000's 2014A 2015A 2016E 2017E 2018E 2019E 2020E

Income Statemment
Revenue 150,000.0 165,000.0 181,500.0 199,650.0 219,615.0 241,576.5 265,734.2
COGS 67,500.0 74,250.0 81,675.0 89,842.5 98,826.8 108,709.4 119,580.4
Gross Profit 82,500.0 90,750.0 99,825.0 109,807.5 120,788.3 132,867.1 146,153.8
SG&A 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0 20,000.0
EBITDA 66,000.0 72,600.0 79,825.0 89,807.5 100,788.3 112,867.1 126,153.8
Deprecition 6,600.0 7,260.0 9,075.0 9,982.5 10,980.8 12,078.8 13,286.7
Interest 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
EBT 58,400.0 64,340.0 69,750.0 78,825.0 88,807.5 99,788.3 111,867.1
Taxes 17,520.0 19,302.0 20,925.0 23,647.5 26,642.3 29,936.5 33,560.1
Net Income 40,880.0 45,038.0 48,825.0 55,177.5 62,165.3 69,851.8 78,307.0

Assumptions
Revenue growth 10.0% 10% 10% 10% 10% 10%
COGS % of revenue 45.0% 45.0% 45% 45% 45% 45% 45%
SG&A 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0 20,000.0
Deprecition % revenue 4.4% 4.4% 5% 5% 5% 5% 5%
Interest 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
Tax rate 30.0% 30.0% 30% 30% 30% 30% 30%

Time Periods 8/15/2016 0 1 2 3 4 5 6

Monthly Data 8/31/2016 9/30/2016 10/31/2016 11/30/2016 12/31/2016 1/31/2017 2/28/2017
Annual Data 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022

Monthly Period 0.04 0.13 0.21 0.29 0.38 0.46 0.54

Annual Period 0.38 1.38 2.38 3.38 4.38 5.38 6.38
Stub or Full Year Stub Full Year Full Year Full Year Full Year Full Year Full Year

Cost Analysis
COGS 10 67,500.0 74,250.0 81,675.0 89,842.5 98,826.8 108,709.4 119,580.4
SG&A 10 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0 20,000.0
Deprecition 5 6,600.0 7,260.0 9,075.0 9,982.5 10,980.8 12,078.8 13,286.7
Interest 5 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
Taxes 0 17,520.0 19,302.0 20,925.0 23,647.5 26,642.3 29,936.5 33,560.1
Total 30 109,120.0 119,962.0 132,675.0 144,472.5 157,449.8 171,724.7 187,427.2

Average 21,824.0 23,992.4 26,535.0 28,894.5 31,490.0 34,344.9 37,485.4

Weighted Average 29,266.7 32,176.7 35,570.8 38,444.6 41,605.7 45,082.9 48,907.9
Median 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0 20,000.0

Return Total Expenses

If < 150000 150000 109120 119962 132675 144472.5 0 0 0
If > = 150000 150000 0 0 0 0 157449.75 171724.725 187427.1975
Total 109120 119962 132675 144472.5 157449.75 171724.725 187427.1975

Error Check OK OK OK OK OK OK OK

Rounding 30,000.0
300000
292666.66667

Absolute (29,266.7)
29266.666667

Min 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0

Max 67,500.0 74,250.0 81,675.0 89,842.5 98,826.8 108,709.4 119,580.4

Small 2 1 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0

Large 2 1 17,520.0 19,302.0 20,925.0 23,647.5 26,642.3 29,936.5 33,560.1

Div/0 0 na na na na na na na

Adding with an error 0.0 0.0 0.0 0.0 0.0 0.0 0.0
USD $000's 2014A 2015A 2016E 2017E 2018E 2019E 2020E

Income Statemment USD $000's

Revenue 150,000.0 165,000.0 181,500.0 199,650.0 219,615.0 241,576.5 265,734.2
COGS 67,500.0 74,250.0 81,675.0 89,842.5 98,826.8 108,709.4 119,580.4
Gross Profit 82,500.0 90,750.0 99,825.0 109,807.5 120,788.3 132,867.1 146,153.8
SG&A 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0 20,000.0
EBITDA 66,000.0 72,600.0 79,825.0 89,807.5 100,788.3 112,867.1 126,153.8
Deprecition 6,600.0 7,260.0 9,075.0 9,982.5 10,980.8 12,078.8 13,286.7
Interest 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
EBT 58,400.0 64,340.0 69,750.0 78,825.0 88,807.5 99,788.3 111,867.1
Taxes 17,520.0 19,302.0 20,925.0 23,647.5 26,642.3 29,936.5 33,560.1
Net Income 40,880.0 45,038.0 48,825.0 55,177.5 62,165.3 69,851.8 78,307.0

Assumptions

Analysis
300,000.0
Scenarios Running: 1
200,000.0
Summary Data
100,000.0
Financial Valuation

0.0
Charts & Graphs

Revenue 150,000.0 165,000.0 181,500.0 199,650.0 219,615.0 241,576.5 265,734.2 (100,000.0)

Total Expenses (109,120.0) (119,962.0) (132,675.0) (144,472.5) (157,449.8) (171,724.7) (187,427.2)
Net Income 40,880.0 45,038.0 48,825.0 55,177.5 62,165.3 69,851.8 78,307.0 (200,000.0)

(300,000.0)
2014A 2015A 2016A
2014A 2015A 2016A 2017A 2018A 2019A 2020A
Income Statement
Revenue 150000 165000
COGS 67500 74250
Gross Profit 82500 90750
SG&A 16500 18150
EBITDA 66000 72600
Depreciation 6600 7260
Interest 1000 1000
EBT 58400 64340
Taxes 17520 19302
Net Income 40880 45038