This Year’s Actual Results

Next Year’s Initial Forecast



Net sales  $17,000,000  $20,060,000 
Cost of goods sold  13,600,000  16,048,000 
Gross profit  $3,400,000  $4,012,000 
Fixed operating costs except depreciation  850,000  850,000 
Depreciation  340,000  401,200 
Earnings before interest and taxes  $2,210,000  $2,607,800 
Interest  340,000  340,000 
Earnings before taxes  $1,870,000  $2,267,800 
Taxes  748,000  907,120 
Net income  $1,122,000  1,360,680 
Common dividends  605,880  605,880 
Addition to retained earnings  $516,120  $754,800 
Earnings per share  $0.22  $0.27 
Dividends per share  $0.12  $0.12 
Number of common shares (millions)  5.00  5.00 
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