CartwrightLumber Forecast
CartwrightLumber Forecast
CartwrightLumber Forecast
Balance Sheet
$ 1,697 $ 2,013 $
2001
2002
$
58 $
48 $
171
222
239
326
468
596
126
140
$
594 $
736 $
forecast
2,694 $
2003
41 $
317
418
776
157
933 $
2,963 $
2004
59 $
219
474
753
207
960
3,200
2005
64
Balance Sheet
% of Sales
2001
2002
3.4%
2.4%
10.1%
11.0%
14.1%
16.2%
Days outstanding
Forecast
2003
2004
1.5%
2%
11.8%
15.5%
16%
7.4%
7.0%
5.8%
7.0%
7.3%
1.4%
9.5%
1.5%
9.5%
1.4%
8.5%
1.40%
2005
2%
2001
2002
2003
2004
37
40
43
27
27
35
35
105
124
24
7
260
64
324
270
594
146
192
30
7
375
57
432
304
736
233
256
39
7
535
50
585
348
933
184
41
7
233
43
276
345
621
339
Exhibit 1
Income Statememt
Net Sales
Cost of Goods Sold:
Beginning Inventory
Purchases
Ending Inventory
Total Cost of Goods Sold
Gross Profit
Operating Expenses
Earnings Before Interest & Taxes
Interest Expense
Net Income Before Taxes
Provision for Income Taxes
Net Income
2001
1,697 $
2002
2,013 $
First
Quarter
2003
2004
2,694 $
718
183
1,278
239
1,222
239
1,524
326
1,437
326
2,042
418
1,950
418
660
556
522
475
425
50
13
37
6
31
576
515
61
20
41
7
34
744
658
86
33
53
9
44
196
175
21
10
11
2
9
Taxes
50,000
75,000
over 75,000
Total
Average Tax Rate
0.15
0.25
0.35
5.55
-
6.15
-
7.50
0.75
-
5.55
15%
6.15
15%
8.25
16%
1.65
1.65
15%
Notes
Exhibit 2
Balance Sheet
Assets
Cash
Accounts Rec., net
Inventory
Current Assets
Property, net
Total Assets
2001
58 $
171
239
468
126
594 $
2002
48 $
222
326
596
140
736 $
First
Quarter
2003
2004
41 $
31
317
345
418
556
776
932
157
162
933 $ 1,094
105
-
146
-
233
-
256
39
7
535
50
585
348
933
243
36
7
690
47
737
357
$ 1,094
124
24
7
260
64
324
270
594
192
30
7
375
57
432
304
736
247
157
2005 Notes
Exhibit 1 % Sales
Income Statememt
Net Sales
Cost of Goods Sold:
Beginning Inventory
Purchases
Ending Inventory
Total Cost of Goods Sold
Gross Profit
Operating Expenses
Earnings Before Interest & Taxes
Interest Expense
Net Income Before Taxes
Provision for Income Taxes
Net Income
2001
1,697 $
2002
2,013 $
First
Quarter
2003
2004
2,694 $
718
183
1,278
239
1,222
239
1,524
326
1,437
326
2,042
418
1,950
418
660
556
522
475
425
50
13
37
6
31
576
515
61
20
41
7
34
744
658
86
33
53
9
44
196
175
21
10
11
2
9
Taxes
50,000
75,000
100,000
over 100,000
Total
Average Tax Rate
0.15
0.25
0.34
0.39
5.55
5.55
15%
6.15
6.15
15%
7.50
0.75
8.25
16%
1.65
1.65
15%
First
Quarter
2003
2004
100%
100%
2001
100%
2002
100%
11%
75%
14%
72%
12%
76%
16%
71%
12%
76%
16%
72%
58%
92%
77%
73%
25%
26%
24%
24%
1%
2%
1%
2%
1%
2%
1%
2%
2%
2%
2%
1%
Exhibit 2 % Sales
Balance Sheet
$ 1,697 $
2,013 $
2001
2002
$
58 $
48 $
171
222
239
326
468
596
126
140
$
594 $
736 $
First Quarter
2,694 $
718
2003
2004
41 $
31
317
345
418
556
776
932
157
162
933 $ 1,094
Balance Sheet
Days outstanding
First Quarter
2001
3.4%
10.1%
14.1%
2002
2.4%
11.0%
16.2%
2003
1.5%
11.8%
15.5%
7.4%
35.0%
7.0%
36.6%
5.8%
34.6%
2001
2002
2003
2004
36
51
40
58
42
56
43
70
105
124
24
7
260
64
324
270
594
146
192
30
7
375
57
432
304
736
233
-
247
157
256
39
7
535
50
585
348
933
243
36
7
690
47
737
357
$ 1,094
27
7.3%
1.4%
9.5%
1.5%
9.5%
1.4%
35
45
45
40
Exhibit 1 Forecast
Income Statememt
10% $
Net Sales
Cost of Goods Sold:
Beginning Inventory
Purchases
Ending Inventory
Total Cost of Goods Sold
Gross Profit
Operating Expenses
Earnings Before Interest & Taxes
Interest Expense
Net Income Before Taxes
Provision for Income Taxes
Net Income
0.08
0.05
2001
1,697 $
2002
2,013 $
2003
2004
2005
2006
2,694 $ 2,963 $ 3,200 $ 3,360
183
1,278
239
1,222
239
1,524
326
1,437
326
2,042
418
1,950
475
425
50
13
37
6
31
576
515
61
20
41
7
34
744
658
86
33
53
9
44
418
2,223
474
2,166
474
2,400
512
2,362
512
2,520
538
2,495
797
770
27
30
(3)
(0.53)
(3) $
838
832
6
32
(26)
(4.43)
(22) $
866
874
(8)
34
(42)
(7.07)
(35)
(0.47)
(0.47)
15%
(3.91)
(3.91)
15%
(6.24)
(6.24)
15%
Taxes
50,000
75,000
over 75,000
Total
Average Tax Rate
0.15
0.25
0.35
5.55
5.55
15%
6.15
6.15
15%
7.50
0.75
8.25
16%
2001
75%
14%
72%
25%
0.77%
16%
Exhibit 1 Forecast
Forecast
2002
2003
2004
2005
2006
76%
16%
71%
76%
16%
72%
75%
16%
73%
75%
16%
72%
75%
16%
26%
24%
26%
26%
26%
0.99%
1.22%
1%
1%
1%
17%
17%
17%
17%
17%
Exhibit 2 Forecast
Balance Sheet
$ 1,697 $ 2,013 $
2001
2002
$
58 $
48 $
171
222
239
326
468
596
126
140
$
594 $
736 $
forecast
2,694 $
2003
41 $
317
418
776
157
933 $
3,225 $
2004
65 $
327
516
907
226
1,133 $
3,200 $
2005
64 $
324
512
901
224
1,125 $
3,360
2006
67
341
538
946
235
1,181
Balance Sheet
% of Sales
2001
2002
3.4%
2.4%
10.1%
11.0%
14.1%
16.2%
Days outstanding
Forecast
2003
2004
1.5%
2%
11.8%
15.5%
16%
2005
2%
2006
2%
16%
16%
7.4%
7.0%
5.8%
7.0%
7.0%
7.0%
7.3%
1.4%
9.5%
1.5%
9.5%
1.4%
8.5%
1.40%
8.5%
1.40%
8.5%
1.40%
2001
2002
2003
2004
2005
2006
37
40
43
37
37
37
27
35
35
23
22
105
124
24
7
260
64
324
270
594
146
192
30
7
375
57
432
304
736
233
256
39
7
535
50
585
348
933
465
-
200
45
7
718
43
761
345
1,106
27
465
-
465
-
196
45
8
714
35
749
324
1,072
47
9
521
26
547
289
836
52
345
10% $ 0.08
0.05
2001
2002
2003
2004
2005
2006
$ 1,697 $ 2,013 $ 2,694 $ 2,963 $ 3,200 $ 3,360
1,278
239
1,222
295
1,524
326
1,437
413
2,042
418
1,950
510
425
50
375
37
338
6
332
515
61
454
41
413
7
406
658
86
572
53
519
9
510
Balance Sheet
$ 1,697 $ 2,013 $ 2,694
2001
2002
2003
$
58 $
48 $
41
171
222
317
239
326
418
468
596
776
126
140
157
$
594 $
736 $
933
105
124
24
7
260
64
324
270
594
146
192
30
7
375
57
432
304
736
1,950
2,223
474
3,698
(735)
770
(1,505)
30
(1,535)
(260.97)
$ (1,274) $
474
2,400
512
2,362
512
2,520
538
2,495
838
832
6
32
(26)
(4.43)
(22) $
866
874
(8)
34
(42)
(7.07)
(35)
forecast
$ 3,225 $ 3,200 $ 3,360
2004
2005
2006
$
65 $
64 $
67
327
324
341
516
512
538
907
901
946
226
224
235
$ 1,133 $ 1,125 $ 1,181
233
-
465
-
256
39
7
535
50
585
348
933
200
45
7
718
43
761
345
$ 1,106
196
45
8
714
35
749
324
$ 1,072
47
9
521
26
547
289
836
345
27
465
-
52
2001
2002
2003
Forecast
2004
2005
2006
14%
72%
17%
16%
71%
21%
16%
72%
19%
75%
16%
125%
75%
16%
72%
75%
16%
3%
3%
3%
26%
26%
26%
2.18%
2.04%
1.97%
1%
1%
1%
2%
2%
2%
17%
17%
17%
Balance Sheet
% of Sales
2001
3.4%
10.1%
14.1%
2002
2.4%
11.0%
16.2%
2003
1.5%
11.8%
15.5%
Forecast
2004
2%
2005
2%
2006
2%
16%
16%
16%
7.4%
7.0%
5.8%
7.0%
7.0%
7.0%
7.3%
1.4%
9.5%
1.5%
9.5%
1.4%
8.5%
1.40%
8.5%
1.40%
8.5%
1.40%
465
-