{"text_format":"3","workbook":"xls","n_sheets":1,"sheets":["LEVERAGE ANALYSIS"],"read":"whole","date_system":"1900","formulas":"cached_only"}

{"sheet":"LEVERAGE ANALYSIS","index":0,"n_rows":42,"n_cols":5,"rows_kept":42,"flags":["formulas_cached_only"]}
["EFFECTS OF FINANCIAL LEVERAGE"]
[]
["VARIABLES","INPUT","INPUT","INPUT"]
["Debt % Enter Decimal",{"v":0.2,"d":"20.00%"},{"v":0.5,"d":"50.00%"},{"v":0.8,"d":"80.00%"}]
["Interest Rate on Debt Enter Decimal",{"v":0.1,"d":"10.00%"},{"v":0.14,"d":"14.00%"},{"v":0.18000000000000002,"d":"18.00%"},"Increases 4% per year if Debt Ratio Increases"]
["Sales Between $5,000 and $50,000",{"v":12000,"d":"$12,000"},{"v":12000,"d":"$12,000"},{"v":12000,"d":"$12,000"}]
["Variable Cost Ratio Enter Decimal",{"v":0.3,"d":"30.00%"},{"v":0.3,"d":"30.00%"},{"v":0.3,"d":"30.00%"}]
["Income Tax Rate Enter Decimal",{"v":0.4,"d":"40.00%"},{"v":0.4,"d":"40.00%"},{"v":0.4,"d":"40.00%"}]
["Sales Growth Rate Enter .0 or Decimal",{"v":0,"d":"0.00%"},{"v":0,"d":"0.00%"},{"v":0,"d":"0.00%"}]
[]
[]
["GIVEN DATA","INPUT"]
["Fixed Costs Enter Number",{"v":6800,"d":"$6,800"}]
[]
["MODEL PRODUCES FOLLOWING OUTPUT"]
["Cash",{"v":300,"d":"$300"},{"v":300,"d":"$300"},{"v":300,"d":"$300"}]
["Receivables",{"v":1200,"d":"$1,200"},{"v":1200,"d":"$1,200"},{"v":1200,"d":"$1,200"}]
["Inventories",{"v":1400,"d":"$1,400"},{"v":1400,"d":"$1,400"},{"v":1400,"d":"$1,400"}]
["Plant (Net)",{"v":3000,"d":"$3,000"},{"v":3000,"d":"$3,000"},{"v":3000,"d":"$3,000"}]
["Equipment (Net)",{"v":4100,"d":"$4,100"},{"v":4100,"d":"$4,100"},{"v":4100,"d":"$4,100"}]
["Total Assets",{"v":10000,"d":"$10,000"},{"v":10000,"d":"$10,000"},{"v":10000,"d":"$10,000"}]
[]
["Total Liabilities",{"v":2000,"d":"$2,000"},{"v":5000,"d":"$5,000"},{"v":8000,"d":"$8,000"}]
["Stock ($10)",{"v":8000,"d":"$8,000"},{"v":5000,"d":"$5,000"},{"v":2000,"d":"$2,000"}]
["Tot. Liab./Equity",{"v":10000,"d":"$10,000"},{"v":10000,"d":"$10,000"},{"v":10000,"d":"$10,000"}]
[]
[]
["Sales",{"v":12000,"d":"$12,000"},{"v":12000,"d":"$12,000"},{"v":12000,"d":"$12,000"}]
["Fixed Costs",{"v":6800,"d":"$6,800"},{"v":6800,"d":"$6,800"},{"v":6800,"d":"$6,800"}]
["Variable Costs % Sales",{"v":3600,"d":"$3,600"},{"v":3600,"d":"$3,600"},{"v":3600,"d":"$3,600"}]
["Total Costs",{"v":10400,"d":"$10,400"},{"v":10400,"d":"$10,400"},{"v":10400,"d":"$10,400"}]
["Earnings Before Interest and Taxes",{"v":1600,"d":"$1,600"},{"v":1600,"d":"$1,600"},{"v":1600,"d":"$1,600"}]
["Less: Interest",{"v":200,"d":"$200"},{"v":700.0000000000001,"d":"$700"},{"v":1440.0000000000002,"d":"$1,440"},"Increases if Debt Ratio Increases (.04/year) on All Liabilities"]
["Earnings Before Taxes",{"v":1400,"d":"$1,400"},{"v":899.9999999999999,"d":"$900"},{"v":159.99999999999977,"d":"$160"}]
["Less: Income Taxes",{"v":560,"d":"$560"},{"v":360,"d":"$360"},{"v":63.999999999999915,"d":"$64"}]
["Net Income",{"v":840,"d":"$840"},{"v":539.9999999999999,"d":"$540"},{"v":95.99999999999986,"d":"$96"}]
[]
["EPS",{"v":1.05,"d":"$1.05"},{"v":1.0799999999999998,"d":"$1.08"},{"v":0.4799999999999993,"d":"$0.48"},"Number of Shares Equals Stock / $10"]
["ROE",{"v":0.105,"d":"10.50%"},{"v":0.10799999999999997,"d":"10.80%"},{"v":0.04799999999999993,"d":"4.80%"}]
["ROA",{"v":0.084,"d":"8.40%"},{"v":0.053999999999999986,"d":"5.40%"},{"v":0.009599999999999985,"d":"0.96%"}]
["WACC",{"v":0.108,"d":"10.80%"},{"v":0.10200000000000001,"d":"10.20%"},{"v":0.11040000000000003,"d":"11.04%"}]
["VF",{"v":14814.814814814816,"d":"$14,815"},{"v":15686.274509803921,"d":"$15,686"},{"v":14492.753623188402,"d":"$14,493"}]