Using the date set given above,

Case Guidelines (3 pages per section assuming 1.5 line spacing)

State specifically what assumptions are being made, Justify assumptions

- Focusing on assumptions made for 2001-2003, it's projected percentage of sales, cogs, etc. What would happen if it were lower or higher, and how they can change it to be more competitive.

- Not asking for 3 pages, but please write as much as you can regarding assumptions made from the date set given as it would really help me. Thanks so much, will leave a good review/rating!

Fiscal Year Ended February 28 Assumptions Forecast 2002-2004 2004 1999 303.7 100% 127.7 42.0% 176.0 58.0% 2000 330.1 100.0% 130.9 39.7% 199.2 60.3% 2001 374.1 100.0% 149.0 39.8% 225.1 60.2% Growth % sales 13.0% 40.0% 2,002.0 422.7 169.1 253.6 2003 477.7 191.1 286.6 539.8 215.9 323.9 166.2 195.7 52.3% 280.7 Income Statement Turnover Cost of sales Gross profit Operating expenses excluding exceptional costs exceptional costs Restructuring costs Net interest expense Profit before tax (PBT) Tax expense Profit/(loss) after tax 49.9% 1.5% 5.5% 50.3% 0.0% 0.8% 3.0% 0.3% 151.4 4.5 16.6 0.1 3.4 8.0 (4.6) 1% sales % sales % sales Debt, EFN and Excess Cash 52.0% 0.0% 0.0% 6.0% 0.0 2.7 15 28.8 10.4 18.4 11.2 1.0 44 12.8 3.5 9.3 219.8 0.0 0.0 4.4 29.4 8.8 20.6 248.4 0.0 0.0 5.3 33.0 9.9 23.1 0.0 0.0 6.2 37.0 11.1 25.9 % of PBT 30.0% Constant 10.9 Ordinary dividends Profit (loss) retained 10.9 (15.5) 10.9 7.5 10.9 (1.6) 10.9 9.7 10.9 12.2 10.9 15.0 Balance Sheet Cash 34.0 11.2% 19.2 5.8% 13.7 3.7% % sales 4.0% 16.9 19.1 21.6 34.0 11.2% 19.2 5.8% 13.7 3.7% 4.0% Balance Sheet Cash Excess Cash (Plug) Accounts receivable Inventories Other current assets Net fixed assets Other assets Total assets 27.8 38.6 12.5 87.8 0.0 200.7 9.2% 12.7% 4.1% 28.9% 0.0% 66.1% 30.3 44.7 15.6 104.7 6.0 220.5 9.2% 13.5% 4.7% 31.7% 1.8% 66.8% 30.3 51.3 17.5 110.6 6.7 230.1 8.1% 13.7% 4.7% 29.6% 1.8% 61.5% % sales Plug 1% sales % sales % sales % sales % sales 8.0% 13.7% 4.7% 30.0% 1.8% 16.9 0.0 33.8 57.9 19.9 126.8 7.6 262.9 19.1 0.0 38.2 65.4 22.5 143.3 8.6 297.1 21.6 0.0 43.2 74.0 25.4 161.9 9.7 335.7 13.0 11.3 10.8 0.0 21.6 28.0 4.3% 3.7% 3.6% 0.0% 7.1% 20.5 11.7 15.6 0.3 13.3 36.7 6.2% 3.5% 4.7% 0.1% 4.0% Accounts payable Taxes payable Accruals Overdrafts Other current liabilities Long-term liabilities EFN (Plug) Other liabilities Shareholders' equity Total liabs. & equity 10.7 7.1 11.5 0.7 16.9 61.2 2.9% 1.9% 3.1% 0.2% 4.5% ||% sales % sales % sales % sales % sales Fixed Plug % sales 4.0% 2.0% 3.5% 0.2% 4.0% 16.9 8.5 14.8 0.8 16.9 61.2 12.1 0.4 131.3 262.9 19.1 9.6 16.7 1.0 19.1 73.3 14.4 0.5 143.5 297.1 21.6 10.8 18.9 1.1 21.6 87.7 15.0 0.5 158.5 335.7 0.6% 0.3% 0.1% 0.1% 1.7 114.3 200.7 1.0 121.4 220.5 0.4 121.6 230.1 Trial assets Trial liabs. & equity Trial plug 262.9 250.8 12.1 297.1 282.7 14.4 335.7 320.7 15.0 Fiscal Year Ended February 28 Assumptions Forecast 2002-2004 2004 1999 303.7 100% 127.7 42.0% 176.0 58.0% 2000 330.1 100.0% 130.9 39.7% 199.2 60.3% 2001 374.1 100.0% 149.0 39.8% 225.1 60.2% Growth % sales 13.0% 40.0% 2,002.0 422.7 169.1 253.6 2003 477.7 191.1 286.6 539.8 215.9 323.9 166.2 195.7 52.3% 280.7 Income Statement Turnover Cost of sales Gross profit Operating expenses excluding exceptional costs exceptional costs Restructuring costs Net interest expense Profit before tax (PBT) Tax expense Profit/(loss) after tax 49.9% 1.5% 5.5% 50.3% 0.0% 0.8% 3.0% 0.3% 151.4 4.5 16.6 0.1 3.4 8.0 (4.6) 1% sales % sales % sales Debt, EFN and Excess Cash 52.0% 0.0% 0.0% 6.0% 0.0 2.7 15 28.8 10.4 18.4 11.2 1.0 44 12.8 3.5 9.3 219.8 0.0 0.0 4.4 29.4 8.8 20.6 248.4 0.0 0.0 5.3 33.0 9.9 23.1 0.0 0.0 6.2 37.0 11.1 25.9 % of PBT 30.0% Constant 10.9 Ordinary dividends Profit (loss) retained 10.9 (15.5) 10.9 7.5 10.9 (1.6) 10.9 9.7 10.9 12.2 10.9 15.0 Balance Sheet Cash 34.0 11.2% 19.2 5.8% 13.7 3.7% % sales 4.0% 16.9 19.1 21.6 34.0 11.2% 19.2 5.8% 13.7 3.7% 4.0% Balance Sheet Cash Excess Cash (Plug) Accounts receivable Inventories Other current assets Net fixed assets Other assets Total assets 27.8 38.6 12.5 87.8 0.0 200.7 9.2% 12.7% 4.1% 28.9% 0.0% 66.1% 30.3 44.7 15.6 104.7 6.0 220.5 9.2% 13.5% 4.7% 31.7% 1.8% 66.8% 30.3 51.3 17.5 110.6 6.7 230.1 8.1% 13.7% 4.7% 29.6% 1.8% 61.5% % sales Plug 1% sales % sales % sales % sales % sales 8.0% 13.7% 4.7% 30.0% 1.8% 16.9 0.0 33.8 57.9 19.9 126.8 7.6 262.9 19.1 0.0 38.2 65.4 22.5 143.3 8.6 297.1 21.6 0.0 43.2 74.0 25.4 161.9 9.7 335.7 13.0 11.3 10.8 0.0 21.6 28.0 4.3% 3.7% 3.6% 0.0% 7.1% 20.5 11.7 15.6 0.3 13.3 36.7 6.2% 3.5% 4.7% 0.1% 4.0% Accounts payable Taxes payable Accruals Overdrafts Other current liabilities Long-term liabilities EFN (Plug) Other liabilities Shareholders' equity Total liabs. & equity 10.7 7.1 11.5 0.7 16.9 61.2 2.9% 1.9% 3.1% 0.2% 4.5% ||% sales % sales % sales % sales % sales Fixed Plug % sales 4.0% 2.0% 3.5% 0.2% 4.0% 16.9 8.5 14.8 0.8 16.9 61.2 12.1 0.4 131.3 262.9 19.1 9.6 16.7 1.0 19.1 73.3 14.4 0.5 143.5 297.1 21.6 10.8 18.9 1.1 21.6 87.7 15.0 0.5 158.5 335.7 0.6% 0.3% 0.1% 0.1% 1.7 114.3 200.7 1.0 121.4 220.5 0.4 121.6 230.1 Trial assets Trial liabs. & equity Trial plug 262.9 250.8 12.1 297.1 282.7 14.4 335.7 320.7 15.0