Question: Please solve this case ASAP I need to study for the exam. Please tell me how you come up with the answers so I can

 Please solve this case ASAP I need to study for theexam. Please tell me how you come up with the answers soI can practice. Tire City For Years Ending December 31 201 20142015 2016F 2017P 2018P Sales 6. 230 20. 355 23.505 Cost of

Please solve this case ASAP I need to study for the exam. Please tell me how you come up with the answers so I can practice.

Goods Sold 9 . 430 1 1 , 898 13 612 GrossProfit 6. 800 8. 457 9 , 893 General & Selling Expense5. 195 6, 352 7.47 Depreciation & Amortizat 180 213 Interes 119Earnings before Taxes 1 . 326 1 819 2 . 115 Taxes

Tire City For Years Ending December 31 201 2014 2015 2016F 2017P 2018P Sales 6. 230 20. 355 23.505 Cost of Goods Sold 9 . 430 1 1 , 898 13 612 Gross Profit 6. 800 8. 457 9 , 893 General & Selling Expense 5. 195 6, 352 7.47 Depreciation & Amortizat 180 213 Interes 119 Earnings before Taxes 1 . 326 1 819 2 . 115 Taxes 546 822 925 Net Income 780 997 1 , 190 Dividend 238 Sales growth 25, 4% 5. 5% COGS / sales 58. 1% 58. 5% 57 9% GSA / Sales 32 0% 31 . 2% 31 . 8% Dear / sales 10% 0. 9% 0. 9% Tax rate 41 . 28 45. 2% 43 . 7% Interest rate O. 0 % 0. 0% Dividend payout 20% 20% Operating cash flow 059 202 1 .497At December 31 2013 2014 2015 2016F 2017 F 2018 F Assets Accounts Receivable 2.545 3 095 3 652 4 073 4 582 5.040 Inventories 2.190 2. 322 2612 Current Assets 4 , 683 5 , 542 6 548 Gross PPE 3 . 232 JOE 4 , 163 4 568 5 025 5 , 526 Accumulated depreciation 1 35 515 2 . 302 2 637 Net PPPE 2 . 280 2 435 2.570 2722 2 889 Total Assets 6, 580 7 , 822 8 983 iabilities & Shareholders Equity Bank deb Current Portion of Long-term Debt Accounts Payable 1900 2090 Accrued expense 1 , 145 1 432 Current Liabilitie 2 21 2 882 3 , 215 Long-term Debt Common stock 1 135 1 135 Retained earnings 2 , 13 3 2930 3 . 883 Shareholders Equity 3 . 268 4. 065 5 018 Total Liabilities & Shareholders Equity 6, 580 7, 822 8 983 External funding need Cash / sales . IN 3 . 0% 3 . 0% Accrued expenses / sales 7.19 70% 70% 2 371 0 2 , 660 0 3 3330 Change in NWC 2890 6730 CAPEX / sales 2. 8% CADENAt December 31 2013 2014 2015 2016F 2017F 2018F EBIT 1, 445 1, 925 2, 209 Tax 595 870 966 Depreciation 160 180 213 Chg NWC 289 673 CAPEX 563 368 FCF 383 415 Terminal value Total FCF 383 415 EV Net Debt Equity Long-term growth 0% Debt price/Par Debt par value Stock price Shares rd tax Beta MRP rUST WACC

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