Year Project X Project Y 0 -350,000 -480,000 1 150.000 160,000 2 170.000 170.000 3 160,000...

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Year Project X Project Y 0 -350,000 -480,000 1 150.000 160,000 2 170.000 170.000 3 160,000 201,000 4 140,000 210,000 5 150,000 250,550 6 150,000 160,021 Net Sales Cost of Goods Sold Gross Profit SG&A Expenses Depreciation EBIT Actual 2019 150,000 2020 200,000 - 100,000 100,000 2021 Projected 250,000 - 125,000 125,000 - 75,000 75,000 - 30,000 - 40,000 - 50,000 - 7,500 - 10,000 - 12,500 37,500 3,500 50,000 Interest EBT 34,000 Taxes (40% rate) Net Income - 13,600 20,400 2022 300,000 - 150,000 150,000 - 60,000 - 15,000 75,000 2023 350,000 - 175,000 175,000 - 70,000 - 17,500 87,500 3,500 46,500 - 18,600 27,900 62,500 3,500 59,000 - 23,600 35,400 - 3,500 - 71,500 - 28,600 42,900 3,500 84,000 - 33,600 50,400 Year 2019 ($) Year 2020 ($) Required Cash Surplus Cash 50,000 80,000 20,000 40.000 Account Receivable Inventories 200,000 250,000 300,000 360,000 Accounts Payable 100,000 120.000 Accrued Liabilities 40,000 60.000 Bank Loan (short-term) 90,000 110.000 Year Project X Project Y 0 -350,000 -480,000 1 150.000 160,000 2 170.000 170.000 3 160,000 201,000 4 140,000 210,000 5 150,000 250,550 6 150,000 160,021 Net Sales Cost of Goods Sold Gross Profit SG&A Expenses Depreciation EBIT Actual 2019 150,000 2020 200,000 - 100,000 100,000 2021 Projected 250,000 - 125,000 125,000 - 75,000 75,000 - 30,000 - 40,000 - 50,000 - 7,500 - 10,000 - 12,500 37,500 3,500 50,000 Interest EBT 34,000 Taxes (40% rate) Net Income - 13,600 20,400 2022 300,000 - 150,000 150,000 - 60,000 - 15,000 75,000 2023 350,000 - 175,000 175,000 - 70,000 - 17,500 87,500 3,500 46,500 - 18,600 27,900 62,500 3,500 59,000 - 23,600 35,400 - 3,500 - 71,500 - 28,600 42,900 3,500 84,000 - 33,600 50,400 Year 2019 ($) Year 2020 ($) Required Cash Surplus Cash 50,000 80,000 20,000 40.000 Account Receivable Inventories 200,000 250,000 300,000 360,000 Accounts Payable 100,000 120.000 Accrued Liabilities 40,000 60.000 Bank Loan (short-term) 90,000 110.000