TABLE 1: SELECTED FINANCIAL DATA YEAR 2018 2019 ITEM 2016 2017 2020 2021 Projected 30,000 $36,000 $43,000 $52,000 $62,500 Net Sales $25,000 $'000 Net Income Available to Common Shareholders $4,500 $'000 Earnings / Share $3.00 Dividends / Share $1.20 $5,400 $6,480 $7,740 $9,360 $11,250 $3.60 $4.32 $5.16 $6.22 $7.50 $1.44 $1.73 $2.06 $2.49 $3.00 TABLE 3: FINANCING COST DATA Long-term Debt The company can raise up to $3.5 million by selling additional 10 year, 10% Bonds with a face value of $1000 and floatation costs of $50. Any additional debt will have an estimated before-tax cost of 14% Preferred Stock Preferred stocks up to $900,000 can be obtained by selling 12% Preferred stock with a face value of $100 and floatation cost of $20 Any additional preferred stock will cost 18%. Common Stock Common stocks are currently priced at $50 per share. The company expects to have $6.75 million in retained earnings in 2021, New common stock can be sold with a discount and floatation cost of $5/share. TABLE 1: SELECTED FINANCIAL DATA YEAR 2018 2019 ITEM 2016 2017 2020 2021 Projected 30,000 $36,000 $43,000 $52,000 $62,500 Net Sales $25,000 $'000 Net Income Available to Common Shareholders $4,500 $'000 Earnings / Share $3.00 Dividends / Share $1.20 $5,400 $6,480 $7,740 $9,360 $11,250 $3.60 $4.32 $5.16 $6.22 $7.50 $1.44 $1.73 $2.06 $2.49 $3.00 TABLE 3: FINANCING COST DATA Long-term Debt The company can raise up to $3.5 million by selling additional 10 year, 10% Bonds with a face value of $1000 and floatation costs of $50. Any additional debt will have an estimated before-tax cost of 14% Preferred Stock Preferred stocks up to $900,000 can be obtained by selling 12% Preferred stock with a face value of $100 and floatation cost of $20 Any additional preferred stock will cost 18%. Common Stock Common stocks are currently priced at $50 per share. The company expects to have $6.75 million in retained earnings in 2021, New common stock can be sold with a discount and floatation cost of $5/share