{"text_format":"1","workbook":"xlsx","n_sheets":8,"sheets":["Title Page","Sources & Uses","Exit Analysis","Post-Transaction Fncl Sts","IS Detail","Debt Schedule","PP&E Schedule","Debt Ratios"],"not_rendered":{"charts":0,"images":0,"macros":1,"external_links":0,"defined_names":3251,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Title Page","index":0,"n_rows":14,"n_cols":4,"rows_kept":14,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Building an LBO Template - Multiple Worksheets"]
[]
[null,"Workbook Index"]
[]
[null,"#","Worksheet","Description"]
[]
[null,1,"Sources & Uses"," Sources & Uses and EV as a multiple of EBITDA."]
[null,{"$f":"B8+1","v":2},"Exit Analysis","Exit analysis, data tables and scenarios."]
[null,{"$f":"B9+1","v":3},"Post-Transaction Financial Statements","Financial statements and balance sheet adjustments."]
[null,4,"IS Detail","Income statement scenarios 1 through 3."]
[null,5,"Debt Schedule","Supporting schedule."]
[null,6,"PP&E Schedule","Supporting schedule."]
[null,7,"Debt Ratios","Debt ratios and liquidity analysis. "]

{"sheet":"Sources & Uses","index":1,"n_rows":16,"n_cols":13,"rows_kept":16,"cut":false,"hidden":false,"merged":[]}
[null,"COMPANY"]
[null,"SOURCES & USES "]
[]
[null,{"$f":"'Exit Analysis'!K1","v":1}]
[null,"Enterprise Value",null,null,null,null,75000,null,"SOURCES",null,null,"USES"]
[null,"Historical EBITDA @ Close",null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F48","v":12021.64},null,"Common",{"$f":"SUM(G5,G11:G16)-SUM(J7:J9)","v":36350},null,"Seller Proceeds",{"$f":"M16-SUM(M7:M12)","v":62500}]
[null,"EV as Multiple of Min EBITDA",null,null,null,null,{"$f":"G5/G6","v":6.2387494551492146},null,"Sub Debt",10000,null,"OLDCO Debt",{"$f":"'Post-Transaction Fncl Sts'!N121","v":12500}]
[null,"Senior Debt EBITDA Multiple",null,null,null,null,{"$f":"J8/G6","v":2.495499782059686},null,"Senior Debt",30000,null,"Trnsctn Expenses",{"$f":"G11","v":500}]
[null,"Sub Debt EBITDA Multiple",null,null,null,null,{"$f":"J7/G6","v":0.83183326068656194},null,"Line of Credit",0,null,"Financing Fees (Sub Debt)",{"$f":"G13","v":200}]
[null,"Transaction Expenses","Fee (%)",null,"Undrawn LOC",null,null,null,null,null,null,"Financing Fees (Senior Debt)",{"$f":"G14","v":600}]
[null,"Trnsctn Expenses",null,null,null,null,500,null,null,null,null,"Financing Fees (L.O.C.)",50]
[null,"Intermediary Fee",null,null,null,null,0,null,null,null,null,"Cash",0]
[null,"Financing Fees (Sub Debt)",0.02,null,null,null,{"$f":"C13*J7","v":200}]
[null,"Financing Fees (Senior Debt)",0.02,null,null,null,{"$f":"C14*J8","v":600}]
[null,"Financing Fees (L.O.C.)",0.01,null,5000,null,{"$f":"C15*E15","v":50}]
[null,"Closing Fee",null,null,null,null,0,null,"Total",{"$f":"SUM(J6:J9)","v":76350},null,"Total",{"$f":"J16","v":76350}]

{"sheet":"Exit Analysis","index":2,"n_rows":109,"n_cols":11,"rows_kept":109,"cut":false,"hidden":false,"merged":[[55,2,57,2],[62,2,64,2]]}
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"},null,null,null,null,null,null,null,"SCENARIO",1]
[null,"EXIT ANALYSIS"]
[]
[null,"IMPLIED VALUATION CALCULATION (EXIT)"]
[null,"Exit Year",null,null,null,null,null,null,null,null,2022]
[null,"EV/EBITDA Multiple",null,null,null,null,null,null,null,null,6.5]
[null,"EBITDA ",null,null,null,null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!K48","v":15342.997483012507}]
[null,"Enterprise Value",null,null,null,null,null,null,null,null,{"$f":"K6*K7","v":99729.483639581289}]
[null,"Less: Debt",null,null,null,null,null,null,null,null,{"$f":"SUM('Post-Transaction Fncl Sts'!K118:K120)","v":19000}]
[null,"Plus: Cash",null,null,null,null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!K75","v":9826.5374485675038}]
[null,"Equity Value",null,null,null,null,null,null,null,null,{"$f":"K8-K9+K10","v":90556.021088148787}]
[]
[]
[null,"OWNERSHIP STRUCTURE"]
[null,null,null,null,null,null,null,null,null,null,"At Exit"]
[]
[null,"Equity"]
[null,{"$f":"'Post-Transaction Fncl Sts'!P56","v":"Common"},null,null,null,null,null,null,null,null,1]
[null,"Subordinated Debt"]
[null,{"$f":"'Post-Transaction Fncl Sts'!P57","v":"Sub Debt"},null,null,null,null,null,null,null,null,0]
[null,"TOTAL",null,null,null,null,null,null,null,null,{"$f":"SUM(K18:K20)","v":1}]
[]
[null,{"$f":"UPPER(B18)","v":"COMMON"},null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F7","v":2017},{"$f":"'Post-Transaction Fncl Sts'!G7","v":2018},{"$f":"'Post-Transaction Fncl Sts'!H7","v":2019},{"$f":"'Post-Transaction Fncl Sts'!I7","v":2020},{"$f":"'Post-Transaction Fncl Sts'!J7","v":2021},{"$f":"'Post-Transaction Fncl Sts'!K7","v":2022}]
[null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!$F$8","v":"2017-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$G$8","v":"2018-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$H$8","v":"2019-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$I$8","v":"2020-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$J$8","v":"2021-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$K$8","v":"2022-12-31"}]
[]
[null,"Interest Rate","NA"]
[null,"Equity (%)",{"$f":"K18","v":1}]
[]
[null,"Exit Year 5"]
[null,"Investment",null,null,null,{"$f":"-'Sources & Uses'!J6","v":-36350},{"$f":"SUM(G31:G32)","v":0},{"$f":"SUM(H31:H32)","v":0},0,0,90556.021088148787]
[null,"Dividends"]
[null,"Equity Value ",null,null,null,null,null,null,null,null,{"$f":"$C$27*$K$11","v":90556.021088148787}]
[]
[null,"IRR",{"$f":"IF(F30<0,XIRR(F30:K30,F24:K24),\"NM\")","v":0.20016004443168639}]
[null,"Cash Multiple",{"$f":"IF(F30<0,SUM(G30:K30)/-F30,\"NM\")","v":2.4912247892200492}]
[]
[null,{"$f":"UPPER(B20)","v":"SUB DEBT"},null,null,null,{"$f":"F23","v":2017},2018,2019,2020,2021,2022]
[null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!$F$8","v":"2017-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$G$8","v":"2018-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$H$8","v":"2019-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$I$8","v":"2020-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$J$8","v":"2021-12-31"},{"$f":"'Post-Transaction Fncl Sts'!$K$8","v":"2022-12-31"}]
[]
[null,"Interest Rate",{"$f":"'Debt Schedule'!C33","v":0.12}]
[null,"Equity (%)",{"$f":"K20","v":0}]
[]
[null,"Exit Year 5"]
[null,"Investment",null,null,null,{"$f":"-'Sources & Uses'!J7","v":-10000},{"$f":"SUM(G45:G47)","v":1200},{"$f":"SUM(H45:H47)","v":1200},{"$f":"SUM(I45:I47)","v":1200},{"$f":"SUM(J45:J47)","v":1200},{"$f":"SUM(K45:K47)","v":11200}]
[null,"Interest",null,null,null,null,{"$f":"'Debt Schedule'!E33","v":1200},{"$f":"'Debt Schedule'!F33","v":1200},{"$f":"'Debt Schedule'!G33","v":1200},{"$f":"'Debt Schedule'!H33","v":1200},{"$f":"'Debt Schedule'!I33","v":1200}]
[null,"Debt Repayment",null,null,null,null,null,null,null,null,{"$f":"'Debt Schedule'!I32","v":10000}]
[null,"Equity Value",null,null,null,null,null,null,null,null,{"$f":"$C$41*$K$11","v":0}]
[]
[null,"IRR",{"$f":"IF(F44<0,XIRR(F44:K44,F38:K38),\"NM\")","v":0.11993137001991269}]
[null,"Cash Multiple",{"$f":"IF(F44<0,SUM(G44:K44)/-F44,\"NM\")","v":1.6}]
[]
[null,"DATA TABLES"]
[]
[null,"[]",null,null,"EBITDA Multiple"]
[null,null,null,{"$f":"#REF!","v":{"$error":"#REF!"}},5,{"$f":"+E55+0.5","v":5.5},{"$f":"+F55+0.5","v":6},6.5,7,7.5,8]
[null,null,"Scenario",1]
[null,null,null,2]
[null,null,null,3]
[]
[]
[null,null,null,null,"EBITDA Multiple"]
[null,"[]",null,{"$f":"C49","v":0.11993137001991269},5,{"$f":"+E62+0.5","v":5.5},{"$f":"+F62+0.5","v":6},6.5,7,7.5,8]
[null,null,"Scenario",1]
[null,null,null,2]
[null,null,null,3]
[]
[]
[null,"INCOME STATEMENT SCENARIO SUMMARY"]
[null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F8","v":"2017-12-31"},{"$f":"'Post-Transaction Fncl Sts'!G8","v":"2018-12-31"},{"$f":"'Post-Transaction Fncl Sts'!H8","v":"2019-12-31"},{"$f":"'Post-Transaction Fncl Sts'!I8","v":"2020-12-31"},{"$f":"'Post-Transaction Fncl Sts'!J8","v":"2021-12-31"},{"$f":"'Post-Transaction Fncl Sts'!K8","v":"2022-12-31"}]
[null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F9","v":12},{"$f":"'Post-Transaction Fncl Sts'!G9","v":12},{"$f":"'Post-Transaction Fncl Sts'!H9","v":12},{"$f":"'Post-Transaction Fncl Sts'!I9","v":12},{"$f":"'Post-Transaction Fncl Sts'!J9","v":12},{"$f":"'Post-Transaction Fncl Sts'!K9","v":12}]
[]
[null,1]
[null,null,"Revenue",null,null,{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!F11,'Exit Analysis'!F73)","v":50000},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!G11,'Exit Analysis'!G73)","v":52500},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!H11,'Exit Analysis'!H73)","v":55125},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!I11,'Exit Analysis'!I73)","v":57881.25},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!J11,'Exit Analysis'!J73)","v":60775.3125},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!K11,'Exit Analysis'!K73)","v":63814.078125000007}]
[null,null,"Growth Rate (%)",null,null,null,{"$f":"G73/F73-1","v":5.0000000000000044E-2},{"$f":"H73/G73-1","v":5.0000000000000044E-2},{"$f":"I73/H73-1","v":5.0000000000000044E-2},{"$f":"J73/I73-1","v":5.0000000000000044E-2},5.0000000000000044E-2]
[null,null,"COGS",null,null,{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!F14,'Exit Analysis'!F75)","v":29383},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!G14,'Exit Analysis'!G75)","v":30852.15},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!H14,'Exit Analysis'!H75)","v":32394.7575},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!I14,'Exit Analysis'!I75)","v":34014.495374999999},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!J14,'Exit Analysis'!J75)","v":35715.220143750004},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!K14,'Exit Analysis'!K75)","v":37500.981150937499}]
[null,null,"GM",null,null,{"$f":"F73-F75","v":20617},{"$f":"G73-G75","v":21647.85},22730.2425,23866.754625000001,25060.092356249996,26313.096974062508]
[null,null,"% of Sales",null,null,{"$f":"F76/F73","v":0.41233999999999998},{"$f":"G76/G73","v":0.41233999999999998},0.41233999999999998,0.41234000000000004,0.41233999999999993,0.4123400000000001]
[null,null,"SG&A",null,null,{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!F20,'Exit Analysis'!F78)","v":8595.36},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!G20,'Exit Analysis'!G78)","v":9025.1280000000006},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!H20,'Exit Analysis'!H78)","v":9476.384399999999},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!I20,'Exit Analysis'!I78)","v":9950.2036200000002},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!J20,'Exit Analysis'!J78)","v":10447.713801},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!K20,'Exit Analysis'!K78)","v":10970.099491050001}]
[null,null,"EBIT",null,null,{"$f":"F76-F78","v":12021.64},{"$f":"G76-G78","v":12622.721999999998},13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507]
[null,null,"% of Sales",null,null,{"$f":"F79/F73","v":0.2404328},{"$f":"G79/G73","v":0.24043279999999997},0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009]
[]
[null,null,"EBITDA (adj for mgmt fee)",null,null,{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!F48,'Exit Analysis'!F82)","v":12021.64},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!G48,'Exit Analysis'!G82)","v":12622.721999999998},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!H48,'Exit Analysis'!H82)","v":13253.858100000001},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!I48,'Exit Analysis'!I82)","v":13916.551005000001},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!J48,'Exit Analysis'!J82)","v":14612.378555249996},{"$f":"IF($B$72=$K$1,'Post-Transaction Fncl Sts'!K48,'Exit Analysis'!K82)","v":15342.997483012507}]
[null,null,"% of Sales",null,null,{"$f":"F82/F73","v":0.2404328},0.24043279999999997,0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009]
[]
[null,2]
[null,null,"Revenue",null,null,{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!F11,'Exit Analysis'!F86)","v":50000},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!G11,'Exit Analysis'!G86)","v":55000},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!H11,'Exit Analysis'!H86)","v":60500.000000000007},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!I11,'Exit Analysis'!I86)","v":66550.000000000015},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!J11,'Exit Analysis'!J86)","v":73205.000000000029},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!K11,'Exit Analysis'!K86)","v":80525.500000000044}]
[null,null,"Growth Rate (%)",null,null,null,{"$f":"G86/F86-1","v":0.10000000000000009},{"$f":"H86/G86-1","v":0.10000000000000009},{"$f":"I86/H86-1","v":0.10000000000000009},{"$f":"J86/I86-1","v":0.10000000000000009},{"$f":"K86/J86-1","v":0.10000000000000009}]
[null,null,"COGS",null,null,{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!F14,'Exit Analysis'!F88)","v":29383},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!G14,'Exit Analysis'!G88)","v":32321.3},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!H14,'Exit Analysis'!H88)","v":35553.430000000008},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!I14,'Exit Analysis'!I88)","v":39108.773000000016},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!J14,'Exit Analysis'!J88)","v":43019.650300000016},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!K14,'Exit Analysis'!K88)","v":47321.61533000003}]
[null,null,"GM",null,null,{"$f":"F86-F88","v":20617},{"$f":"G86-G88","v":22678.7},24946.57,27441.226999999999,30185.349700000013,33203.884670000014]
[null,null,"% of Sales",null,null,{"$f":"F89/F86","v":0.41233999999999998},{"$f":"G89/G86","v":0.41234000000000004},0.41233999999999993,0.41233999999999987,0.41234000000000004,0.41233999999999993]
[null,null,"SG&A",null,null,{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!F20,'Exit Analysis'!F91)","v":8595.36},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!G20,'Exit Analysis'!G91)","v":9454.8960000000006},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!H20,'Exit Analysis'!H91)","v":10400.385600000001},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!I20,'Exit Analysis'!I91)","v":11440.424160000004},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!J20,'Exit Analysis'!J91)","v":12584.466576000004},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!K20,'Exit Analysis'!K91)","v":13842.913233600009}]
[null,null,"EBIT",null,null,{"$f":"F89-F91","v":12021.64},{"$f":"G89-G91","v":13223.804},14546.184399999998,16000.802839999995,17600.883124000007,19360.971436400003]
[null,null,"% of Sales",null,null,{"$f":"F92/F86","v":0.2404328},{"$f":"G92/G86","v":0.2404328},0.24043279999999995,0.24043279999999986,0.2404328,0.24043279999999992]
[]
[null,null,"EBITDA (adj for mgmt fee)",null,null,{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!F48,'Exit Analysis'!F95)","v":12021.64},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!G48,'Exit Analysis'!G95)","v":13223.804},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!H48,'Exit Analysis'!H95)","v":14546.184399999998},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!I48,'Exit Analysis'!I95)","v":16000.802839999995},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!J48,'Exit Analysis'!J95)","v":17600.883124000007},{"$f":"IF($B$85=$K$1,'Post-Transaction Fncl Sts'!K48,'Exit Analysis'!K95)","v":19360.971436400003}]
[null,null,"% of Sales",null,null,{"$f":"F95/F86","v":0.2404328},0.2404328,0.24043279999999995,0.24043279999999986,0.2404328,0.24043279999999992]
[]
[null,3]
[null,null,"Revenue",null,null,{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!F11,'Exit Analysis'!F99)","v":50000},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!G11,'Exit Analysis'!G99)","v":60000},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!H11,'Exit Analysis'!H99)","v":72000},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!I11,'Exit Analysis'!I99)","v":86400},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!J11,'Exit Analysis'!J99)","v":103680},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!K11,'Exit Analysis'!K99)","v":124416.00000000001}]
[null,null,"Growth Rate (%)",null,null,null,{"$f":"G99/F99-1","v":0.19999999999999996},{"$f":"H99/G99-1","v":0.19999999999999996},{"$f":"I99/H99-1","v":0.19999999999999996},{"$f":"J99/I99-1","v":0.19999999999999996},{"$f":"K99/J99-1","v":0.20000000000000018}]
[null,null,"COGS",null,null,{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!F14,'Exit Analysis'!F101)","v":29383},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!G14,'Exit Analysis'!G101)","v":35259.599999999999},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!H14,'Exit Analysis'!H101)","v":42311.519999999997},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!I14,'Exit Analysis'!I101)","v":50773.824000000001},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!J14,'Exit Analysis'!J101)","v":60928.588800000005},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!K14,'Exit Analysis'!K101)","v":73114.306560000012}]
[null,null,"GM",null,null,{"$f":"F99-F101","v":20617},{"$f":"G99-G101","v":24740.400000000001},29688.480000000003,35626.175999999999,42751.411199999995,51301.693440000003]
[null,null,"% of Sales",null,null,{"$f":"F102/F99","v":0.41233999999999998},{"$f":"G102/G99","v":0.41234000000000004},0.41234000000000004,0.41233999999999998,0.41233999999999993,0.41233999999999998]
[null,null,"SG&A",null,null,{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!F20,'Exit Analysis'!F104)","v":8595.36},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!G20,'Exit Analysis'!G104)","v":10314.432000000001},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!H20,'Exit Analysis'!H104)","v":12377.318399999998},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!I20,'Exit Analysis'!I104)","v":14852.782079999999},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!J20,'Exit Analysis'!J104)","v":17823.338496000008},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!K20,'Exit Analysis'!K104)","v":21388.006195199996}]
[null,null,"EBIT",null,null,{"$f":"F102-F104","v":12021.64},{"$f":"G102-G104","v":14425.968000000001},17311.161600000007,20773.393920000002,24928.072703999987,29913.687244800007]
[null,null,"% of Sales",null,null,{"$f":"F105/F99","v":0.2404328},{"$f":"G105/G99","v":0.2404328},0.24043280000000009,0.24043280000000003,0.24043279999999989,0.24043280000000003]
[]
[null,null,"EBITDA (adj for mgmt fee)",null,null,{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!F48,'Exit Analysis'!F108)","v":12021.64},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!G48,'Exit Analysis'!G108)","v":14425.968000000001},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!H48,'Exit Analysis'!H108)","v":17311.161600000007},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!I48,'Exit Analysis'!I108)","v":20773.393920000002},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!J48,'Exit Analysis'!J108)","v":24928.072703999987},{"$f":"IF($B$98=$K$1,'Post-Transaction Fncl Sts'!K48,'Exit Analysis'!K108)","v":29913.687244800007}]
[null,null,"% of Sales",null,null,{"$f":"F108/F99","v":0.2404328},0.2404328,0.24043280000000009,0.24043280000000003,0.24043279999999989,0.24043280000000003]

{"sheet":"Post-Transaction Fncl Sts","index":3,"n_rows":193,"n_cols":19,"rows_kept":193,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"INCOME STATEMENT"]
[]
[null,{"$f":"'Exit Analysis'!K1","v":1}]
[null,null,null,null,null,null,"Projections"]
[null,null,null,{"$f":"E6","v":"Historical"},"Historical","Projected",1,{"$f":"G6+1","v":2},{"$f":"H6+1","v":3},4,5,6]
[null,null,null,{"$f":"YEAR(D8)","v":2015},2016,2017,2018,2019,2020,2021,2022,2023]
[null,null,null,{"$f":"DATE(YEAR(E8)-1,MONTH(E8),DAY(E8))","v":"2015-12-31"},"2016-12-31","2017-12-31","2018-12-31",{"$f":"DATE(YEAR(G8)+1,MONTH(G8),DAY(G8))","v":"2019-12-31"},"2020-12-31","2021-12-31","2022-12-31","2023-12-31"]
[null,null,null,{"$f":"E9","v":12},{"$f":"DAYS360(D8,E8)/30","v":12},{"$f":"DAYS360(E8,F8)/30","v":12},{"$f":"IF(MONTH(F8)=12,12,DAYS360(F8,G8)/30)","v":12},{"$f":"DAYS360(G8,H8)/30","v":12},12,12,12,12]
[]
[null,"Net Sales ",null,{"$f":"'IS Detail'!F25","v":50000},{"$f":"'IS Detail'!G25","v":50000},{"$f":"'IS Detail'!H25","v":50000},{"$f":"'IS Detail'!I25","v":52500},{"$f":"'IS Detail'!J25","v":55125},{"$f":"'IS Detail'!K25","v":57881.25},{"$f":"'IS Detail'!L25","v":60775.3125},{"$f":"'IS Detail'!M25","v":63814.078125000007},{"$f":"'IS Detail'!N25","v":67004.782031250012}]
[null,"Growth (%)",null,"NM",{"$f":"E11/D11-1","v":0},{"$f":"IF(F9<>12,\"NM\",F11/E11-1)","v":0},{"$f":"IF(G9<>12,\"NM\",G11/F11-1)","v":5.0000000000000044E-2},{"$f":"IF(G9<>12,H11/SUM(F11,G11)-1,H11/G11-1)","v":5.0000000000000044E-2},{"$f":"I11/H11-1","v":5.0000000000000044E-2},{"$f":"J11/I11-1","v":5.0000000000000044E-2},{"$f":"K11/J11-1","v":5.0000000000000044E-2},{"$f":"L11/K11-1","v":5.0000000000000044E-2}]
[]
[null,"COGS (Net of D & A)",null,{"$f":"'IS Detail'!F41","v":29383},{"$f":"'IS Detail'!G41","v":29383},{"$f":"'IS Detail'!H41","v":29383},{"$f":"'IS Detail'!I41","v":30852.15},{"$f":"'IS Detail'!J41","v":32394.7575},{"$f":"'IS Detail'!K41","v":34014.495374999999},{"$f":"'IS Detail'!L41","v":35715.220143750004},{"$f":"'IS Detail'!M41","v":37500.981150937499},{"$f":"'IS Detail'!N41","v":39376.030208484386}]
[null,"% of Sales",null,{"$f":"D14/D11","v":0.58765999999999996},0.58765999999999996,0.58765999999999996,0.58766000000000007,0.58765999999999996,0.58765999999999996,0.58766000000000007,0.58765999999999996,0.58766000000000007]
[]
[null,"Gross Profit",null,{"$f":"D11-D14","v":20617},20617,20617,21647.85,22730.2425,23866.754625000001,25060.092356249996,26313.096974062508,27628.751822765626]
[null,"% of Sales",null,{"$f":"D17/D11","v":0.41233999999999998},0.41233999999999998,0.41233999999999998,0.41233999999999998,0.41233999999999998,0.41234000000000004,0.41233999999999993,0.4123400000000001,0.41233999999999993]
[]
[null,"SG&A (Net of D & A)",null,{"$f":"'IS Detail'!F72","v":8595.36},{"$f":"'IS Detail'!G72","v":8595.36},{"$f":"'IS Detail'!H72","v":8595.36},{"$f":"'IS Detail'!I72","v":9025.1280000000006},{"$f":"'IS Detail'!J72","v":9476.384399999999},{"$f":"'IS Detail'!K72","v":9950.2036200000002},{"$f":"'IS Detail'!L72","v":10447.713801},{"$f":"'IS Detail'!M72","v":10970.099491050001},{"$f":"'IS Detail'!N72","v":11518.604465602502}]
[null,"% of Sales",null,{"$f":"D20/D11","v":0.17190720000000001},0.17190720000000001,0.17190720000000001,0.17190720000000001,0.17190719999999998,0.17190720000000001,0.17190720000000001,0.17190720000000001,0.17190720000000001]
[]
[null,"EBITDA",null,{"$f":"D17-D20","v":12021.64},{"$f":"E17-E20","v":12021.64},12021.64,12622.721999999998,13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507,16110.147357163123]
[null,"% of Sales",null,{"$f":"D23/D11","v":0.2404328},0.2404328,0.2404328,0.24043279999999997,0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009,0.24043279999999992]
[]
[null,"Depreciation",null,1250,1250,1250,{"$f":"'PP&E Schedule'!K26","v":1192.8571428571429},{"$f":"'PP&E Schedule'!L26","v":1442.8571428571429},{"$f":"'PP&E Schedule'!M26","v":1692.8571428571429},{"$f":"'PP&E Schedule'!N26","v":1942.8571428571429},{"$f":"'PP&E Schedule'!O26","v":2228.5714285714284},{"$f":"'PP&E Schedule'!P26","v":2514.2857142857142}]
[null,"Amortization",null,0,0,0,{"$f":"'PP&E Schedule'!K35+'PP&E Schedule'!K31","v":170},{"$f":"'PP&E Schedule'!L35+'PP&E Schedule'!L31","v":170},{"$f":"'PP&E Schedule'!M35+'PP&E Schedule'!M31","v":170},{"$f":"'PP&E Schedule'!N35+'PP&E Schedule'!N31","v":170},{"$f":"'PP&E Schedule'!O35+'PP&E Schedule'!O31","v":170},{"$f":"'PP&E Schedule'!P35+'PP&E Schedule'!P31","v":0}]
[]
[null,"EBIT",null,{"$f":"D23-D26-D27","v":10771.64},{"$f":"E23-E26-E27","v":10771.64},10771.64,11259.864857142855,11641.000957142858,12053.693862142858,12499.521412392853,12944.426054441079,13595.861642877409]
[]
[null,"Interest Expense","ON",2601,2813,2719,{"$f":"IF($C$31=\"Off\",0,'Debt Schedule'!E38)","v":2606.25},{"$f":"IF($C$31=\"Off\",0,'Debt Schedule'!F38)","v":2418.75},{"$f":"IF($C$31=\"Off\",0,'Debt Schedule'!G38)","v":2212.5},{"$f":"IF($C$31=\"Off\",0,'Debt Schedule'!H38)","v":1987.5},{"$f":"IF($C$31=\"Off\",0,'Debt Schedule'!I38)","v":1762.5},{"$f":"IF($C$31=\"Off\",0,'Debt Schedule'!J38)","v":1650}]
[]
[null,"Misc. Income / (Expense)",null,0,0,0,0,0,0,0,0,0]
[]
[null,"Pretax Income",null,{"$f":"D29-D31+D33","v":8170.6399999999994},{"$f":"E29-E31+E33","v":7958.6399999999994},8052.6399999999994,{"$f":"G29-G31+G33","v":8653.6148571428548},9222.2509571428582,9841.1938621428581,10512.021412392853,11181.926054441079,11945.861642877409]
[]
[null,"Income Tax Benefit",null,0,0,0,0,0,0,0,0,0]
[]
[null,"Tax Expense",null,1129,802,797,{"$f":"IF(G35>0,G40*(G35-G37),0)","v":3028.7651999999989},3227.7878350000001,3444.41785175,3679.2074943374982,3913.6741190543776,4181.0515750070927]
[null,"Tax Rate",null,null,null,null,0.35,0.35,0.35,0.35,0.35,0.35]
[null,"Franchise Tax",null,0,0,0,{"$f":"G42*G17","v":216.4785},227.302425,238.66754625000002,250.60092356249996,263.13096974062506,276.28751822765628]
[null,"Tax Rate",null,null,null,null,0.01,0.01,0.01,0.01,0.01,0.01]
[]
[null,"Net Income",null,{"$f":"D35-SUM(D39,D41)","v":7041.6399999999994},{"$f":"E35-SUM(E39,E41)","v":7156.6399999999994},7255.6399999999994,{"$f":"G35-SUM(G39,G41)","v":5408.3711571428557},5767.1606971428582,6158.1084641428579,6582.2129944928547,7005.120965646076,7488.5225496426601]
[]
[null,"Adjustment to EBITDA",null,{"$f":"SUM('IS Detail'!F81:F83)","v":0},{"$f":"SUM('IS Detail'!G81:G83)","v":0},{"$f":"SUM('IS Detail'!H81:H83)","v":0},{"$f":"SUM('IS Detail'!I81:I83)","v":0},{"$f":"SUM('IS Detail'!J81:J83)","v":0},{"$f":"SUM('IS Detail'!K81:K83)","v":0},{"$f":"SUM('IS Detail'!L81:L83)","v":0},{"$f":"SUM('IS Detail'!M81:M83)","v":0},{"$f":"SUM('IS Detail'!N81:N83)","v":0}]
[]
[null,"Adjusted EBITDA",null,{"$f":"D23+D46","v":12021.64},12021.64,12021.64,12622.721999999998,13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507,16110.147357163123]
[null,"% of Sales",null,{"$f":"D48/D11","v":0.2404328},0.2404328,0.2404328,0.24043279999999997,0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009,0.24043279999999992]
[]
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"BALANCE SHEET"]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"SOURCES AND USES"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"SOURCES"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!I6","v":"Common"},{"$f":"'Sources & Uses'!J6","v":36350}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!I7","v":"Sub Debt"},{"$f":"'Sources & Uses'!J7","v":10000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!I8","v":"Senior Debt"},{"$f":"'Sources & Uses'!J8","v":30000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!I9","v":"Line of Credit"},{"$f":"'Sources & Uses'!J9","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total",{"$f":"SUM(Q56:Q59)","v":76350}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"USES"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!L6","v":"Seller Proceeds"},{"$f":"'Sources & Uses'!M6","v":62500}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"OLDCO Debt",{"$f":"'Sources & Uses'!M7","v":12500}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Trnsctn Expenses",{"$f":"'Sources & Uses'!M8","v":500}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!L9","v":"Financing Fees (Sub Debt)"},{"$f":"'Sources & Uses'!M9","v":200}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!L10","v":"Financing Fees (Senior Debt)"},{"$f":"'Sources & Uses'!M10","v":600}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"'Sources & Uses'!L11","v":"Financing Fees (L.O.C.)"},{"$f":"'Sources & Uses'!M11","v":50}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Cash",{"$f":"'Sources & Uses'!M12","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total",{"$f":"SUM(Q62:Q68)","v":76350}]
[null,null,null,null,null,null,"Projections",null,null,null,null,null,null,null,null,"Recapitalization"]
[null,null,null,{"$f":"D6","v":"Historical"},{"$f":"E6","v":"Historical"},"Post-Transaction",{"$f":"G6","v":1},2,3,4,5,6,null,"Pre-Transaction",null,"Transaction & Financing Adjustments",null,null,"Post-Transaction"]
[null,null,null,{"$f":"D8","v":"2015-12-31"},"2016-12-31","2017-12-31","2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31",null,{"$f":"F8","v":"2017-12-31"},null,"Sources","Uses",null,{"$f":"F72","v":"2017-12-31"}]
[null,"ASSETS"]
[null,"Current Assets"]
[null,"Cash",null,4919,3495,{"$f":"SUM(N75:Q75)","v":0},{"$f":"G193","v":1186.4282999999987},2983.0061399999995,4666.3597470000004,7019.4372843499987,9826.5374485675038,17727.923870995881,null,0,null,{"$f":"Q60","v":76350},{"$f":"-Q69+Q68","v":-76350},null,{"$f":"F75","v":0}]
[null,"Accounts Receivable",null,2250,2250,2250,{"$f":"(G11/G9*12)/365*G135","v":2362.5},{"$f":"H11/365*H135","v":2480.625},{"$f":"I11/365*I135","v":2604.65625},{"$f":"J11/365*J135","v":2734.8890625000004},{"$f":"K11/365*K135","v":2871.6335156250002},{"$f":"L11/365*L135","v":3015.2151914062506},null,2250,null,null,null,null,2250]
[null,"Inventory",null,3180,3180,3180,{"$f":"(G$14/G$9*12)/365*G136","v":3339.0000000000005},{"$f":"H14/365*H136","v":3505.9500000000003},{"$f":"I14/365*I136","v":3681.2474999999999},{"$f":"J14/365*J136","v":3865.3098750000008},{"$f":"K14/365*K136","v":4058.5753687500001},{"$f":"L14/365*L136","v":4261.5041371875013},null,3180,null,null,null,null,3180]
[null,"Prepaid Expenses",null,1400,1400,1400,{"$f":"(G$14/G$9*12)/365*G137","v":1470.0000000000002},{"$f":"(H$14/H$9*12)/365*H137","v":1543.5},{"$f":"(I$14/I$9*12)/365*I137","v":1620.675},{"$f":"(J$14/J$9*12)/365*J137","v":1701.7087500000002},{"$f":"(K$14/K$9*12)/365*K137","v":1786.7941875000001},{"$f":"(L$14/L$9*12)/365*L137","v":1876.1338968750008},null,1400,null,null,null,null,1400]
[null,"Prepaids & Other Current Assets",null,0,0,0,{"$f":"F79","v":0},{"$f":"G79","v":0},{"$f":"H79","v":0},{"$f":"I79","v":0},{"$f":"J79","v":0},{"$f":"K79","v":0},null,0,null,null,null,null,0]
[null,"Other Current Asset",null,0,0,0,{"$f":"F80","v":0},{"$f":"G80","v":0},{"$f":"H80","v":0},{"$f":"I80","v":0},{"$f":"J80","v":0},{"$f":"K80","v":0},null,0,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"Total Current Assets",null,{"$f":"SUM(D75:D80)","v":11749},10325,6830,8357.9282999999996,10513.08114,12572.938496999999,15321.34497185,18543.540520442504,26880.777096464633,null,{"$f":"SUM(N75:N80)","v":6830},null,{"$f":"SUM(P75:P80)","v":76350},{"$f":"SUM(Q75:Q80)","v":-76350},null,6830]
[]
[null,"Property, Plant and Equipment"]
[null,"PP&E Item 1",null,12000,12000,{"$f":"SUM(N85:Q85)","v":12000},{"$f":"'PP&E Schedule'!K28","v":12557.142857142857},{"$f":"'PP&E Schedule'!L28","v":12864.285714285714},{"$f":"'PP&E Schedule'!M28","v":12921.428571428571},{"$f":"'PP&E Schedule'!N28","v":12728.571428571428},{"$f":"'PP&E Schedule'!O28","v":12500},{"$f":"'PP&E Schedule'!P28","v":11985.714285714286},null,12000,null,null,null,null,{"$f":"F85","v":12000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"Total Property, Plant and Equipment",null,{"$f":"SUM(D85:D85)","v":12000},12000,12000,12557.142857142857,12864.285714285714,12921.428571428571,12728.571428571428,12500,11985.714285714286,null,{"$f":"SUM(N85:N85)","v":12000},null,null,null,null,12000]
[]
[null,"Other Assets"]
[null,"Capitalized Transaction Costs",null,0,0,{"$f":"SUM(N90:Q90)","v":850},{"$f":"'PP&E Schedule'!K34","v":680},{"$f":"'PP&E Schedule'!L34","v":510},{"$f":"'PP&E Schedule'!M34","v":340},{"$f":"'PP&E Schedule'!N34","v":170},{"$f":"'PP&E Schedule'!O34","v":0},{"$f":"'PP&E Schedule'!P34","v":0},null,0,null,null,{"$f":"Q65+Q66+Q67","v":850},null,{"$f":"F90","v":850}]
[null,"Goodwill ",null,3301,3301,62766,{"$f":"'PP&E Schedule'!K32","v":62766},{"$f":"'PP&E Schedule'!L32","v":62766},{"$f":"'PP&E Schedule'!M32","v":62766},{"$f":"'PP&E Schedule'!N32","v":62766},{"$f":"'PP&E Schedule'!O32","v":62766},{"$f":"'PP&E Schedule'!P32","v":62766},null,3301,null,null,{"$f":"Q62-N129","v":59465},null,62766]
[null,"Trademarks",null,0,0,0,{"$f":"F92","v":0},{"$f":"G92","v":0},0,0,0,0,null,0,null,null,null,null,0]
[null,"Intangibles",null,0,0,0,{"$f":"F93","v":0},{"$f":"G93","v":0},{"$f":"H93","v":0},{"$f":"I93","v":0},{"$f":"J93","v":0},{"$f":"K93","v":0},null,0,null,null,null,null,0]
[null,"Other Long Term Asset",null,450,450,450,450,450,450,450,450,450,null,450,null,null,null,null,450]
[null,"Other Intangible Assets",null,0,0,0,{"$f":"F95","v":0},{"$f":"G95","v":0},0,0,0,0,null,0,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"Total Other Assets",null,{"$f":"SUM(D89:D95)","v":3751},{"$f":"SUM(E89:E95)","v":3751},{"$f":"SUM(N97:Q97)","v":64066},{"$f":"SUM(G90:G95)","v":63896},63726,63556,63386,63216,63216,null,{"$f":"SUM(N89:N95)","v":3751},null,{"$f":"SUM(P85:P95)","v":0},{"$f":"SUM(Q85:Q95)","v":60315},null,64066]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"TOTAL ASSETS",null,{"$f":"D97+D87+D82","v":27500},26076,82896,{"$f":"G97+G87+G82","v":84811.071157142855},87103.366854285705,89050.367068428561,91435.916400421425,94259.540520442504,102082.49138217892,null,{"$f":"N97+N87+N82","v":22581},null,{"$f":"P97+P82","v":76350},{"$f":"Q97+Q82","v":-16035},null,82896]
[]
[null,"LIABILITIES"]
[null,"Current Liabilities"]
[null,"Accounts Payable - Trade",null,1537,1613,{"$f":"SUM(N103:Q103)","v":1583},{"$f":"(G$14/G$9*12)/365*G139","v":1656.5500000000002},{"$f":"H14/365*H139","v":1739.3774999999998},{"$f":"I14/365*I139","v":1826.3463749999999},{"$f":"J14/365*J139","v":1917.6636937500002},{"$f":"K14/365*K139","v":2013.5468784375},{"$f":"L14/365*L139","v":2114.2242223593757},null,1583,null,null,null,null,{"$f":"F103","v":1583}]
[null,"Accruals",null,3663,3663,3663,{"$f":"(G$14/G$9*12)/365*G138","v":3846.1500000000005},4038.4575,4240.3803749999997,4452.3993937500009,4675.0193634375,4908.7703316093766,null,3663,null,null,null,null,3663]
[null,"Current Maturities of LT Debt",null,1500,1500,0,{"$f":"F105","v":0},{"$f":"G105","v":0},{"$f":"H105","v":0},{"$f":"I105","v":0},{"$f":"J105","v":0},{"$f":"K105","v":0},null,0,null,null,null,null,0]
[null,"Other Liability",null,0,0,0,{"$f":"F106","v":0},0,0,0,0,0,null,0,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"Total Current Liabilities",null,{"$f":"SUM(D102:D106)","v":6700},{"$f":"SUM(E102:E106)","v":6776},{"$f":"SUM(F103:F106)","v":5246},5502.7000000000007,5777.835,6066.7267499999998,6370.0630875000006,6688.5662418749998,7022.9945539687524,null,{"$f":"SUM(N102:N106)","v":5246},null,{"$f":"SUM(P102:P106)","v":0},{"$f":"SUM(Q102:Q106)","v":0},null,5246]
[]
[null,"Long Term Liabilities"]
[null,"Accrued Interest",null,0,0,{"$f":"SUM(N111:Q111)","v":0},{"$f":"F111","v":0},{"$f":"G111","v":0},0,0,0,0,null,0,null,null,null,null,{"$f":"F111","v":0}]
[null,"Seniority Premium",null,1800,1800,{"$f":"SUM(N112:Q112)","v":1800},{"$f":"F112","v":1800},1800,1800,1800,1800,1800,null,1800,null,null,null,null,1800]
[]
[null,"OLDCO Notes Payable - LOC",null,0,0,{"$f":"SUM(N114:Q114)","v":0},{"$f":"F114","v":0},{"$f":"G114","v":0},0,0,0,0,null,0,null,null,{"$f":"-N114","v":0},null,{"$f":"F114","v":0}]
[null,"OLDCO Notes Payable - Stockholders",null,0,0,0,0,0,0,0,0,0,null,0,null,null,0,null,0]
[null,"OLDCO Notes Payable",null,14000,12500,0,{"$f":"F116","v":0},0,0,0,0,0,null,12500,null,null,-12500,null,0]
[]
[null,"NEWCO Revolving Line of Credit",null,0,0,{"$f":"SUM(N118:Q118)","v":0},{"$f":"'Debt Schedule'!E18","v":0},{"$f":"'Debt Schedule'!F18","v":0},{"$f":"'Debt Schedule'!G18","v":0},{"$f":"'Debt Schedule'!H18","v":0},{"$f":"'Debt Schedule'!I18","v":0},{"$f":"'Debt Schedule'!J18","v":0},null,0,null,{"$f":"Q59","v":0},null,null,{"$f":"F118","v":0}]
[null,"NEWCO Sub Debt",null,0,0,10000,{"$f":"'Debt Schedule'!E32","v":10000},{"$f":"'Debt Schedule'!F32","v":10000},{"$f":"'Debt Schedule'!G32","v":10000},{"$f":"'Debt Schedule'!H32","v":10000},{"$f":"'Debt Schedule'!I32","v":10000},{"$f":"'Debt Schedule'!J32","v":10000},null,0,null,{"$f":"Q57","v":10000},null,null,10000]
[null,"NEWCO Senior Debt",null,0,0,30000,{"$f":"'Debt Schedule'!E24","v":26250},{"$f":"'Debt Schedule'!F24","v":22500},{"$f":"'Debt Schedule'!G24","v":18000},{"$f":"'Debt Schedule'!H24","v":13500},{"$f":"'Debt Schedule'!I24","v":9000},{"$f":"'Debt Schedule'!J24","v":9000},null,0,null,{"$f":"Q58","v":30000},null,null,30000]
[null,"Total Debt",null,{"$f":"SUM(D114:D116,D118:D120)","v":14000},12500,40000,{"$f":"SUM(G114:G116,G118:G120)","v":36250},32500,28000,23500,19000,19000,null,{"$f":"SUM(N114:N120)","v":12500},null,{"$f":"SUM(P114:P120)","v":40000},{"$f":"SUM(Q114:Q120)","v":-12500},null,{"$f":"F121","v":40000}]
[]
[null,"TOTAL LIABILITIES",null,{"$f":"D121+D108+D111+D112","v":22500},21076,47046,{"$f":"G121+G108+G111+G112","v":43552.7},40077.834999999999,35866.726750000002,31670.063087499999,27488.566241875,27822.994553968754,null,{"$f":"N121+N108+N111+N112","v":19546},null,{"$f":"P121+P108+P111+P112","v":40000},{"$f":"Q121+Q108+Q111+Q112","v":-12500},null,{"$f":"S121+S108+S111+S112","v":47046}]
[]
[null,"EQUITY"]
[null,"Common Stock",null,5000,5000,{"$f":"SUM(N126:Q126)","v":36350},{"$f":"F126","v":36350},{"$f":"G126","v":36350},36350,36350,36350,36350,null,{"$f":"5000-1965","v":3035},null,{"$f":"Q56","v":36350},{"$f":"-N126","v":-3035},null,{"$f":"F126","v":36350}]
[null,"Retained Earnings",null,0,0,-500,{"$f":"F127+G44","v":4908.3711571428557},10675.531854285713,16833.64031842857,23415.853312921427,30420.974278567504,37909.496828210162,null,0,null,null,{"$f":"-Q64","v":-500},null,-500]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"TOTAL EQUITY",null,{"$f":"SUM(D126:D127)","v":5000},5000,35850,41258.371157142858,47025.531854285713,53183.640318428574,59765.853312921427,66770.974278567504,74259.496828210162,null,{"$f":"SUM(N126:N127)","v":3035},null,{"$f":"SUM(P126:P127)","v":36350},{"$f":"SUM(Q126:Q127)","v":-3535},null,{"$f":"SUM(S126:S127)","v":35850}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,"TOTAL LIABILITIES & EQUITY",null,{"$f":"D129+D123","v":27500},26076,82896,84811.071157142855,87103.366854285705,89050.367068428575,91435.916400421425,94259.540520442504,102082.49138217891,null,{"$f":"N129+N123","v":22581},null,{"$f":"P129+P123","v":76350},{"$f":"Q129+Q123","v":-16035},null,82896]
[null,"Check",null,{"$f":"ROUND(D131-D99,2)","v":0},0,0,0,0,0,0,0,0,null,{"$f":"ROUND(N131-N99,2)","v":0},null,{"$f":"ROUND(P131-P99,2)","v":0},{"$f":"ROUND(Q131-Q99,2)","v":0},null,{"$f":"ROUND(S131-S99,2)","v":0}]
[]
[null,"BALANCE SHEET ASSUMPTIONS"]
[null,"AR Days",null,{"$f":"D76/(D11/365)","v":16.425000000000001},{"$f":"E76/(E11/365)","v":16.425000000000001},{"$f":"F76/((F11/F9*12)/365)","v":16.425000000000001},{"$f":"AVERAGE($D135:$F135)","v":16.425000000000001},{"$f":"G135","v":16.425000000000001},16.425000000000001,16.425000000000001,16.425000000000001,16.425000000000001]
[null,"Inventory",null,{"$f":"D77/(D$14/365)","v":39.502433379845492},{"$f":"E77/(E14/365)","v":39.502433379845492},{"$f":"F77/((F$14/F$9*12)/365)","v":39.502433379845492},{"$f":"AVERAGE($D136:$F136)","v":39.502433379845492},39.502433379845492,39.502433379845492,39.502433379845492,39.502433379845492,39.502433379845492]
[null,"Prepaid Expenses",null,{"$f":"D78/(D$14/365)","v":17.391008406221285},{"$f":"E78/(E$14/365)","v":17.391008406221285},{"$f":"F78/((F$14/F$9*12)/365)","v":17.391008406221285},{"$f":"AVERAGE($D137:$F137)","v":17.391008406221285},{"$f":"AVERAGE($D137:$F137)","v":17.391008406221285},17.391008406221285,17.391008406221285,17.391008406221285,17.391008406221285]
[null,"Accruals",null,{"$f":"D104/(D14/365)","v":45.502331279991836},{"$f":"E104/(E14/365)","v":45.502331279991836},{"$f":"F104/((F$14/F$9*12)/365)","v":45.502331279991836},{"$f":"AVERAGE($D138:$F138)","v":45.502331279991836},45.502331279991836,45.502331279991836,45.502331279991836,45.502331279991836,45.502331279991836]
[null,"AP Days",null,{"$f":"D103/(D14/365)","v":19.092842800258655},{"$f":"E103/(E14/365)","v":20.036926113739238},{"$f":"F103/((F14/F9*12)/365)","v":19.664261647891639},{"$f":"AVERAGE($D139:$F139)","v":19.598010187296509},19.598010187296509,19.598010187296509,19.598010187296509,19.598010187296509,19.598010187296509]
[]
[]
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"CASH FLOW STATEMENT"]
[]
[]
[null,null,null,null,null,null,"Projections"]
[null,null,null,null,null,null,{"$f":"G6","v":1},2,3,4,5,6]
[null,null,null,null,null,null,2018,2019,2020,2021,2022,2023]
[null,null,null,null,null,null,"2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31"]
[null,null,null,null,null,null,12,12,12,12,12,12]
[]
[null,"Cash Flow from Operating Activities"]
[]
[null,"Net Income",null,null,null,null,{"$f":"G44","v":5408.3711571428557},5767.1606971428582,6158.1084641428579,6582.2129944928547,7005.120965646076,7488.5225496426601]
[]
[null,"Add Back Non-Cash Items"]
[null,"Depreciation",null,null,null,null,{"$f":"'PP&E Schedule'!K26","v":1192.8571428571429},{"$f":"'PP&E Schedule'!L26","v":1442.8571428571429},{"$f":"'PP&E Schedule'!M26","v":1692.8571428571429},{"$f":"'PP&E Schedule'!N26","v":1942.8571428571429},{"$f":"'PP&E Schedule'!O26","v":2228.5714285714284},{"$f":"'PP&E Schedule'!P26","v":2514.2857142857142}]
[null,"Amortization ",null,null,null,null,{"$f":"'PP&E Schedule'!K35+'PP&E Schedule'!K31","v":170},{"$f":"'PP&E Schedule'!L35+'PP&E Schedule'!L31","v":170},{"$f":"'PP&E Schedule'!M35+'PP&E Schedule'!M31","v":170},{"$f":"'PP&E Schedule'!N35+'PP&E Schedule'!N31","v":170},{"$f":"'PP&E Schedule'!O35+'PP&E Schedule'!O31","v":170},{"$f":"'PP&E Schedule'!P35+'PP&E Schedule'!P31","v":0}]
[null,"Total Non-Cash Adjustments",null,null,null,null,{"$f":"SUM(G157:G158)","v":1362.8571428571429},1612.8571428571429,1862.8571428571429,2112.8571428571431,2398.5714285714284,2514.2857142857142]
[]
[null,"Operating Cash Flow Before Working Capital",null,null,null,null,{"$f":"G154+G159","v":6771.2282999999989},7380.0178400000013,8020.965607000001,8695.0701373499978,9403.6923942175054,10002.808263928375]
[]
[null,"Changes in Working Capital"]
[null,"Accounts Receivable",null,null,null,null,{"$f":"F76-G76","v":-112.5},-118.125,-124.03125,-130.23281250000036,-136.74445312499984,-143.5816757812504]
[null,"Inventory",null,null,null,null,-159.00000000000045,-166.94999999999982,-175.29749999999967,-184.06237500000088,-193.26549374999922,-202.92876843750128]
[null,"Prepaid Expenses",null,null,null,null,-70.000000000000227,-73.499999999999773,-77.174999999999955,-81.033750000000282,-85.085437499999898,-89.339709375000666]
[null,"Accounts Payable ",null,null,null,null,{"$f":"G103-F103","v":73.550000000000182},82.827499999999645,86.968875000000025,91.317318750000368,95.883184687499806,100.67734392187572]
[null,"Accruals Expenses",null,null,null,null,183.15000000000055,192.30749999999944,201.92287499999975,212.01901875000112,222.61996968749918,233.75096817187659]
[null,"Total Changes in Working Capital",null,null,null,null,{"$f":"SUM(G164:G168)","v":-84.799999999999955},-83.440000000000509,-87.611999999999853,-91.992600000000039,-96.592229999999972,-101.42184150000003]
[]
[null,"Cash Flow from Operations",null,null,null,null,{"$f":"G161+G169","v":6686.4282999999987},7296.5778400000008,7933.3536070000009,8603.0775373499982,9307.1001642175052,9901.3864224283752]
[]
[null,"Cash Flow from Investing Activities"]
[]
[null,"Investment Activities"]
[null,"Capital Expenditures",null,null,null,null,{"$f":"-'PP&E Schedule'!K12","v":-1750},{"$f":"-'PP&E Schedule'!L12","v":-1750},{"$f":"-'PP&E Schedule'!M12","v":-1750},{"$f":"-'PP&E Schedule'!N12","v":-1750},{"$f":"-'PP&E Schedule'!O12","v":-2000},{"$f":"-'PP&E Schedule'!P12","v":-2000}]
[]
[null,"Cash Flow from Investing",null,null,null,null,{"$f":"SUM(G176:G176)","v":-1750},-1750,-1750,-1750,-2000,-2000]
[]
[null,"Cash Flow from Financing Activities"]
[]
[null,"Senior Debt - Scheduled",null,null,null,null,{"$f":"-'Debt Schedule'!E23","v":-3750},{"$f":"-'Debt Schedule'!F23","v":-3750},{"$f":"-'Debt Schedule'!G23","v":-4500},{"$f":"-'Debt Schedule'!H23","v":-4500},{"$f":"-'Debt Schedule'!I23","v":-4500},{"$f":"-'Debt Schedule'!J23","v":0}]
[null,"Sub Debt - Scheduled",null,null,null,null,{"$f":"-'Debt Schedule'!E31","v":0},{"$f":"-'Debt Schedule'!F31","v":0},{"$f":"-'Debt Schedule'!G31","v":0},{"$f":"-'Debt Schedule'!H31","v":0},{"$f":"-'Debt Schedule'!I31","v":0},{"$f":"-'Debt Schedule'!J31","v":0}]
[]
[null,"FCF Prior to Revovler (Cash Available for Optional Debt Repayment)",null,null,null,null,{"$f":"G171+G178+G182+G183","v":1186.4282999999987},{"$f":"H171+H178+H182+H183","v":1796.5778400000008},1683.3536070000009,2353.0775373499982,2807.1001642175052,7901.3864224283752,null,"Note: This row has been added to demonstrate how the cash sweep functions."]
[]
[null,"Revolving Line of Credit",null,null,null,null,{"$f":"'Debt Schedule'!E18-'Debt Schedule'!D18","v":0},{"$f":"'Debt Schedule'!F18-'Debt Schedule'!E18","v":0},{"$f":"'Debt Schedule'!G18-'Debt Schedule'!F18","v":0},{"$f":"'Debt Schedule'!H18-'Debt Schedule'!G18","v":0},{"$f":"'Debt Schedule'!I18-'Debt Schedule'!H18","v":0},{"$f":"'Debt Schedule'!J18-'Debt Schedule'!I18","v":0}]
[]
[null,"Cash Flow from Financing Activities",null,null,null,null,{"$f":"G182+G183+G187","v":-3750},{"$f":"H182+H183+H187","v":-3750},-4500,-4500,-4500,0]
[]
[null,"Net Cash Flow",null,null,null,null,{"$f":"G171+G178+G189","v":1186.4282999999987},1796.5778400000008,1683.3536070000009,2353.0775373499982,2807.1001642175052,7901.3864224283752]
[null,"Beginning Cash Balance",null,null,null,null,{"$f":"F75","v":0},{"$f":"G193","v":1186.4282999999987},{"$f":"H193","v":2983.0061399999995},{"$f":"I193","v":4666.3597470000004},{"$f":"J193","v":7019.4372843499987},{"$f":"K193","v":9826.5374485675038}]
[null,"Ending Cash Balance",null,null,null,null,{"$f":"G191+G192","v":1186.4282999999987},2983.0061399999995,4666.3597470000004,7019.4372843499987,9826.5374485675038,17727.923870995881]

{"sheet":"IS Detail","index":4,"n_rows":86,"n_cols":35,"rows_kept":86,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"INCOME STATEMENT DETAIL",null,null,null,null,null,null,null,null,null,null,null,null,null,1,null,null,null,null,null,null,2,null,null,null,null,null,null,3]
[]
[null,"SCENARIO",null,{"$f":"'Exit Analysis'!K1","v":1}]
[null,null,null,null,null,null,null,null,"Projections",null,null,null,null,null,null,"Projections",null,null,null,null,null,null,"Projections",null,null,null,null,null,null,"Projections"]
[null,null,null,null,null,{"$f":"G6","v":"Historical"},"Historical","Projected",{"$f":"'Post-Transaction Fncl Sts'!G6","v":1},{"$f":"I6+1","v":2},{"$f":"J6+1","v":3},{"$f":"K6+1","v":4},{"$f":"L6+1","v":5},{"$f":"M6+1","v":6},null,{"$f":"I6","v":1},{"$f":"J6","v":2},3,4,5,6,null,{"$f":"P6","v":1},{"$f":"Q6","v":2},{"$f":"R6","v":3},{"$f":"S6","v":4},{"$f":"T6","v":5},{"$f":"U6","v":6},null,{"$f":"W6","v":1},{"$f":"X6","v":2},{"$f":"Y6","v":3},{"$f":"Z6","v":4},{"$f":"AA6","v":5},{"$f":"AB6","v":6}]
[null,null,null,null,null,{"$f":"YEAR(F8)","v":2015},2016,2017,2018,2019,2020,2021,2022,2023,null,{"$f":"I7","v":2018},2019,2020,2021,2022,2023,null,{"$f":"P7","v":2018},2019,2020,2021,2022,2023,null,{"$f":"W7","v":2018},2019,2020,2021,2022,2023]
[null,null,null,null,null,{"$f":"DATE(YEAR(G8)-1,MONTH(G8),DAY(G8))","v":"2015-12-31"},{"$f":"'Post-Transaction Fncl Sts'!E8","v":"2016-12-31"},{"$f":"'Post-Transaction Fncl Sts'!F8","v":"2017-12-31"},{"$f":"'Post-Transaction Fncl Sts'!G8","v":"2018-12-31"},{"$f":"DATE(YEAR(I8)+1,MONTH(I8),DAY(I8))","v":"2019-12-31"},{"$f":"DATE(YEAR(J8)+1,MONTH(J8),DAY(J8))","v":"2020-12-31"},{"$f":"DATE(YEAR(K8)+1,MONTH(K8),DAY(K8))","v":"2021-12-31"},{"$f":"DATE(YEAR(L8)+1,MONTH(L8),DAY(L8))","v":"2022-12-31"},{"$f":"DATE(YEAR(M8)+1,MONTH(M8),DAY(M8))","v":"2023-12-31"},null,"2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31",null,"2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31",null,"2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31"]
[null,null,null,null,null,12,{"$f":"DAYS360(F8,G8)/30","v":12},{"$f":"DAYS360(G8,H8)/30","v":12},{"$f":"IF(MONTH(H8)=12,12,DAYS360(H8,I8)/30)","v":12},{"$f":"DAYS360(I8,J8)/30","v":12},{"$f":"DAYS360(J8,K8)/30","v":12},{"$f":"DAYS360(K8,L8)/30","v":12},{"$f":"DAYS360(L8,M8)/30","v":12},{"$f":"DAYS360(M8,N8)/30","v":12},null,12,12,12,12,12,12,null,12,12,12,12,12,12,null,12,12,12,12,12,12]
[]
[null,"Net Sales"]
[null,1,null,null,null,20000,20000,20000,{"$f":"CHOOSE($D$4,P12,W12,AD12)","v":21000},{"$f":"CHOOSE($D$4,Q12,X12,AE12)","v":22050},23152.5,24310.125,25525.631250000002,26801.912812500002,null,{"$f":"(H12)*(1+P19)","v":21000},{"$f":"(P12)*(1+Q19)","v":22050},23152.5,24310.125,25525.631250000002,26801.912812500002,null,{"$f":"(H12)*(1+W19)","v":22000},{"$f":"(W12)*(1+X19)","v":24200.000000000004},26620.000000000007,29282.000000000011,32210.200000000015,35431.220000000023,null,{"$f":"(H12)*(1+AD19)","v":24000},{"$f":"(AD12)*(1+AE19)","v":28800},34560,41472,49766.400000000001,59719.68]
[null,2,null,null,null,10000,10000,10000,{"$f":"CHOOSE($D$4,P13,W13,AD13)","v":10500},{"$f":"CHOOSE($D$4,Q13,X13,AE13)","v":11025},{"$f":"CHOOSE($D$4,R13,Y13,AF13)","v":11576.25},{"$f":"CHOOSE($D$4,S13,Z13,AG13)","v":12155.0625},{"$f":"CHOOSE($D$4,T13,AA13,AH13)","v":12762.815625000001},{"$f":"CHOOSE($D$4,U13,AB13,AI13)","v":13400.956406250001},null,{"$f":"(H13)*(1+P20)","v":10500},11025,11576.25,12155.0625,12762.815625000001,13400.956406250001,null,{"$f":"(H13)*(1+W20)","v":11000},12100.000000000002,13310.000000000004,14641.000000000005,16105.100000000008,17715.610000000011,null,{"$f":"(H13)*(1+AD20)","v":12000},14400,17280,20736,24883.200000000001,29859.84]
[null,3,null,null,null,10000,10000,10000,10500,11025,11576.25,12155.0625,12762.815625000001,13400.956406250001,null,{"$f":"(H14)*(1+P21)","v":10500},11025,11576.25,12155.0625,12762.815625000001,13400.956406250001,null,{"$f":"(H14)*(1+W21)","v":11000},12100.000000000002,13310.000000000004,14641.000000000005,16105.100000000008,17715.610000000011,null,{"$f":"(H14)*(1+AD21)","v":12000},14400,17280,20736,24883.200000000001,29859.84]
[null,4,null,null,null,5000,5000,5000,5250,5512.5,5788.125,6077.53125,6381.4078125000005,6700.4782031250006,null,{"$f":"(H15)*(1+P22)","v":5250},5512.5,5788.125,6077.53125,6381.4078125000005,6700.4782031250006,null,{"$f":"(H15)*(1+W22)","v":5500},6050.0000000000009,6655.0000000000018,7320.5000000000027,8052.5500000000038,8857.8050000000057,null,{"$f":"(H15)*(1+AD22)","v":6000},7200,8640,10368,12441.6,14929.92]
[null,5,null,null,null,5000,5000,5000,5250,5512.5,5788.125,6077.53125,6381.4078125000005,6700.4782031250006,null,{"$f":"(H16)*(1+P23)","v":5250},5512.5,5788.125,6077.53125,6381.4078125000005,6700.4782031250006,null,{"$f":"(H16)*(1+W23)","v":5500},6050.0000000000009,6655.0000000000018,7320.5000000000027,8052.5500000000038,8857.8050000000057,null,{"$f":"(H16)*(1+AD23)","v":6000},7200,8640,10368,12441.6,14929.92]
[]
[null,"Total Growth"]
[null,{"$f":"B12","v":1},null,null,null,{"$f":"IF(ISNUMBER(F12/#REF!-1),(F12/#REF!-1),\"NA\")","v":"NA"},{"$f":"IF(ISNUMBER(G12/F12-1),(G12/F12-1),\"NA\")","v":0},0,{"$f":"CHOOSE($D$4,P19,W19,AD19)","v":0.05},{"$f":"CHOOSE($D$4,Q19,X19,AE19)","v":0.05},{"$f":"CHOOSE($D$4,R19,Y19,AF19)","v":0.05},{"$f":"CHOOSE($D$4,S19,Z19,AG19)","v":0.05},{"$f":"CHOOSE($D$4,T19,AA19,AH19)","v":0.05},{"$f":"CHOOSE($D$4,U19,AB19,AI19)","v":0.05},null,0.05,0.05,0.05,0.05,0.05,0.05,null,0.1,0.1,0.1,0.1,0.1,0.1,null,0.2,0.2,0.2,0.2,0.2,0.2]
[null,{"$f":"B13","v":2},null,null,null,{"$f":"IF(ISNUMBER(F13/#REF!-1),(F13/#REF!-1),\"NA\")","v":"NA"},0,0,0.05,0.05,0.05,0.05,0.05,0.05,null,0.05,0.05,0.05,0.05,0.05,0.05,null,0.1,0.1,0.1,0.1,0.1,0.1,null,0.2,0.2,0.2,0.2,0.2,0.2]
[null,{"$f":"B14","v":3},null,null,null,{"$f":"IF(ISNUMBER(F14/#REF!-1),(F14/#REF!-1),\"NA\")","v":"NA"},0,0,0.05,0.05,0.05,0.05,0.05,0.05,null,0.05,0.05,0.05,0.05,0.05,0.05,null,0.1,0.1,0.1,0.1,0.1,0.1,null,0.2,0.2,0.2,0.2,0.2,0.2]
[null,{"$f":"B15","v":4},null,null,null,{"$f":"IF(ISNUMBER(F15/#REF!-1),(F15/#REF!-1),\"NA\")","v":"NA"},0,0,0.05,0.05,0.05,0.05,0.05,0.05,null,0.05,0.05,0.05,0.05,0.05,0.05,null,0.1,0.1,0.1,0.1,0.1,0.1,null,0.2,0.2,0.2,0.2,0.2,0.2]
[null,{"$f":"B16","v":5},null,null,null,{"$f":"IF(ISNUMBER(F16/#REF!-1),(F16/#REF!-1),\"NA\")","v":"NA"},0,0,0.05,0.05,0.05,0.05,0.05,0.05,null,0.05,0.05,0.05,0.05,0.05,0.05,null,0.1,0.1,0.1,0.1,0.1,0.1,null,0.2,0.2,0.2,0.2,0.2,0.2]
[]
[null,"Net Sales Scenario",null,null,null,{"$f":"SUM(F12:F16)","v":50000},50000,50000,52500,55125,57881.25,60775.3125,63814.078125000007,67004.782031250012,null,{"$f":"SUM(P12:P16)","v":52500},55125,57881.25,60775.3125,63814.078125000007,67004.782031250012,null,{"$f":"SUM(W12:W16)","v":55000},60500.000000000007,66550.000000000015,73205.000000000029,80525.500000000044,88578.050000000061,null,{"$f":"SUM(AD12:AD16)","v":60000},72000,86400,103680,124416.00000000001,149299.20000000001]
[null,"Growth (%)",null,null,null,"NA",{"$f":"G25/F25-1","v":0},{"$f":"IF(H9<>12,\"NM\",H25/G25-1)","v":0},{"$f":"IF(I9<>12,\"NM\",I25/H25-1)","v":5.0000000000000044E-2},{"$f":"IF(I9<>12,J25/SUM(H25,I25)-1,J25/I25-1)","v":5.0000000000000044E-2},{"$f":"K25/J25-1","v":5.0000000000000044E-2},{"$f":"L25/K25-1","v":5.0000000000000044E-2},{"$f":"M25/L25-1","v":5.0000000000000044E-2},{"$f":"N25/M25-1","v":5.0000000000000044E-2},null,"NM",{"$f":"IF(P9<>12,Q25/SUM(#REF!,P25)-1,Q25/P25-1)","v":5.0000000000000044E-2},{"$f":"R25/Q25-1","v":5.0000000000000044E-2},{"$f":"S25/R25-1","v":5.0000000000000044E-2},{"$f":"T25/S25-1","v":5.0000000000000044E-2},{"$f":"U25/T25-1","v":5.0000000000000044E-2},null,"NM",{"$f":"IF(W9<>12,X25/SUM(#REF!,W25)-1,X25/W25-1)","v":0.10000000000000009},{"$f":"Y25/X25-1","v":0.10000000000000009},{"$f":"Z25/Y25-1","v":0.10000000000000009},{"$f":"AA25/Z25-1","v":0.10000000000000009},{"$f":"AB25/AA25-1","v":0.10000000000000009},null,"NM",{"$f":"IF(AD9<>12,AE25/SUM(#REF!,AD25)-1,AE25/AD25-1)","v":0.19999999999999996},{"$f":"AF25/AE25-1","v":0.19999999999999996},{"$f":"AG25/AF25-1","v":0.19999999999999996},{"$f":"AH25/AG25-1","v":0.20000000000000018},{"$f":"AI25/AH25-1","v":0.19999999999999996}]
[]
[null,"COGS (Net of D&A)",null,"SL / %"]
[null,"Base Salaries",null,"%",null,9600,9600,{"$f":"IF($D29=\"%\",H$25*H35,G29)","v":9600},{"$f":"IF($D29=\"%\",I$25*I35,H29*(1+I$47))","v":10080},10584,11113.2,11668.86,12252.303000000002,12864.918150000003,null,{"$f":"P$25*P35","v":10080},10584,11113.2,11668.86,12252.303000000002,12864.918150000003,null,{"$f":"W$25*W35","v":10560},11616.000000000002,12777.600000000002,14055.360000000006,15460.896000000008,17006.985600000011,null,{"$f":"AD$25*AD35","v":11520},13824,16588.8,19906.560000000001,23887.872000000003,28665.446400000004]
[null,"Inventory",null,"%",null,11500,11500,{"$f":"IF($D30=\"%\",H$25*H36,G30)","v":11500},12075,12678.75,13312.6875,13978.321875000001,14677.237968750002,15411.099867187504,null,12075,12678.75,13312.6875,13978.321875000001,14677.237968750002,15411.099867187504,null,12650,13915.000000000002,15306.500000000004,16837.150000000009,18520.865000000013,20372.951500000014,null,13800,16560,19872,23846.400000000001,28615.680000000004,34338.816000000006]
[null,"Rent",null,"%",null,4515,4515,{"$f":"IF($D31=\"%\",H$25*H37,G31)","v":4515},4740.75,4977.7875000000004,5226.6768750000001,5488.0107187500007,5762.4112546875012,6050.5318174218764,null,4740.75,4977.7875000000004,5226.6768750000001,5488.0107187500007,5762.4112546875012,6050.5318174218764,null,4966.5,5463.1500000000005,6009.465000000002,6610.4115000000029,7271.4526500000047,7998.5979150000057,null,5418,6501.6,7801.92,9362.3040000000001,11234.764800000003,13481.717760000001]
[null,"Utilities",null,"%",null,2610,2610,{"$f":"IF($D32=\"%\",H$25*H38,G32)","v":2610},2740.5,2877.5250000000001,3021.4012500000003,3172.4713125000003,3331.0948781250004,3497.6496220312511,null,2740.5,2877.5250000000001,3021.4012500000003,3172.4713125000003,3331.0948781250004,3497.6496220312511,null,2871,3158.1000000000004,3473.9100000000008,3821.3010000000017,4203.4311000000025,4623.7742100000032,null,3132,3758.4,4510.08,5412.0960000000005,6494.5152000000007,7793.4182400000009]
[null,"Other",null,"%",null,1158,1158,{"$f":"IF($D33=\"%\",H$25*H39,G33)","v":1158},1215.9000000000001,1276.6949999999999,1340.5297499999999,1407.5562375,1477.9340493750001,1551.8307518437502,null,1215.9000000000001,1276.6949999999999,1340.5297499999999,1407.5562375,1477.9340493750001,1551.8307518437502,null,1273.8,1401.18,1541.2980000000002,1695.4278000000006,1864.9705800000011,2051.4676380000014,null,1389.6,1667.52,2001.0240000000001,2401.2287999999999,2881.4745600000006,3457.7694720000004]
[]
[null,{"$f":"B29","v":"Base Salaries"},null,{"$f":"D29","v":"%"},null,{"$f":"IF(ISNUMBER(F29/F$25),F29/F$25,0)","v":0.192},0.192,{"$f":"AVERAGE(F35:G35)","v":0.192},{"$f":"CHOOSE($D$4,P35,W35,AD35)","v":0.192},{"$f":"CHOOSE($D$4,Q35,X35,AE35)","v":0.192},{"$f":"CHOOSE($D$4,R35,Y35,AF35)","v":0.192},{"$f":"CHOOSE($D$4,S35,Z35,AG35)","v":0.192},{"$f":"CHOOSE($D$4,T35,AA35,AH35)","v":0.192},{"$f":"CHOOSE($D$4,U35,AB35,AI35)","v":0.192},null,{"$f":"AVERAGE($F35:$G35)","v":0.192},{"$f":"AVERAGE($F35:$G35)","v":0.192},0.192,0.192,0.192,0.192,null,{"$f":"AVERAGE($F35:$G35)","v":0.192},{"$f":"AVERAGE($F35:$G35)","v":0.192},0.192,0.192,0.192,0.192,null,{"$f":"AVERAGE($F35:$G35)","v":0.192},{"$f":"AVERAGE($F35:$G35)","v":0.192},0.192,0.192,0.192,0.192]
[null,{"$f":"B30","v":"Inventory"},null,{"$f":"D30","v":"%"},null,0.23,0.23,0.23,{"$f":"CHOOSE($D$4,P36,W36,AD36)","v":0.23},0.23,0.23,0.23,0.23,0.23,null,{"$f":"AVERAGE($F36:$G36)","v":0.23},0.23,0.23,0.23,0.23,0.23,null,{"$f":"AVERAGE($F36:$G36)","v":0.23},0.23,0.23,0.23,0.23,0.23,null,0.23,0.23,0.23,0.23,0.23,0.23]
[null,{"$f":"B31","v":"Rent"},null,{"$f":"D31","v":"%"},null,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,{"$f":"CHOOSE($D$4,P37,W37,AD37)","v":9.0300000000000005E-2},{"$f":"CHOOSE($D$4,Q37,X37,AE37)","v":9.0300000000000005E-2},{"$f":"CHOOSE($D$4,R37,Y37,AF37)","v":9.0300000000000005E-2},{"$f":"CHOOSE($D$4,S37,Z37,AG37)","v":9.0300000000000005E-2},{"$f":"CHOOSE($D$4,T37,AA37,AH37)","v":9.0300000000000005E-2},{"$f":"CHOOSE($D$4,U37,AB37,AI37)","v":9.0300000000000005E-2},null,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,null,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,{"$f":"AVERAGE($F37:$G37)","v":9.0300000000000005E-2},9.0300000000000005E-2,9.0300000000000005E-2,null,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2,9.0300000000000005E-2]
[null,{"$f":"B32","v":"Utilities"},null,{"$f":"D32","v":"%"},null,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,null,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,null,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,null,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2,5.2200000000000003E-2]
[null,{"$f":"B33","v":"Other"},null,{"$f":"D33","v":"%"},null,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,null,{"$f":"AVERAGE($F39:$G39)","v":2.316E-2},2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,null,{"$f":"AVERAGE($F39:$G39)","v":2.316E-2},2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,null,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2,2.316E-2]
[]
[null,"COGS (Net of D & A)",null,null,null,{"$f":"SUM(F29:F33)","v":29383},29383,29383,30852.15,32394.7575,34014.495374999999,35715.220143750004,37500.981150937499,39376.030208484386,null,{"$f":"SUM(P29:P33)","v":30852.15},32394.7575,34014.495374999999,35715.220143750004,37500.981150937499,39376.030208484386,null,{"$f":"SUM(W29:W33)","v":32321.3},35553.430000000008,39108.773000000016,43019.650300000016,47321.61533000003,52053.776863000036,null,{"$f":"SUM(AD29:AD33)","v":35259.599999999999},42311.519999999997,50773.824000000001,60928.588800000005,73114.306560000012,87737.167872000005]
[null,"% of Sales",null,null,null,{"$f":"F41/F25","v":0.58765999999999996},0.58765999999999996,0.58765999999999996,0.58766000000000007,0.58765999999999996,0.58765999999999996,0.58766000000000007,0.58765999999999996,0.58766000000000007,null,{"$f":"P41/P25","v":0.58766000000000007},0.58765999999999996,0.58765999999999996,0.58766000000000007,0.58765999999999996,0.58766000000000007,null,{"$f":"W41/W25","v":0.58765999999999996},0.58766000000000007,0.58766000000000007,0.58765999999999996,0.58766000000000007,0.58765999999999996,null,{"$f":"AD41/AD25","v":0.58765999999999996},0.58765999999999996,0.58765999999999996,0.58766000000000007,0.58766000000000007,0.58765999999999996]
[]
[null,"Gross Profit",null,null,null,{"$f":"F25-F41","v":20617},20617,20617,21647.85,22730.2425,23866.754625000001,25060.092356249996,26313.096974062508,27628.751822765626,null,{"$f":"P25-P41","v":21647.85},22730.2425,23866.754625000001,25060.092356249996,26313.096974062508,27628.751822765626,null,{"$f":"W25-W41","v":22678.7},24946.57,27441.226999999999,30185.349700000013,33203.884670000014,36524.273137000026,null,{"$f":"AD25-AD41","v":24740.400000000001},29688.480000000003,35626.175999999999,42751.411199999995,51301.693440000003,61562.032128000006]
[null,"% of Sales",null,null,null,{"$f":"F44/F25","v":0.41233999999999998},0.41233999999999998,0.41233999999999998,0.41233999999999998,0.41233999999999998,0.41234000000000004,0.41233999999999993,0.4123400000000001,0.41233999999999993,null,{"$f":"P44/P25","v":0.41233999999999998},0.41233999999999998,0.41234000000000004,0.41233999999999993,0.4123400000000001,0.41233999999999993,null,{"$f":"W44/W25","v":0.41234000000000004},0.41233999999999993,0.41233999999999987,0.41234000000000004,0.41233999999999993,0.41233999999999998,null,{"$f":"AD44/AD25","v":0.41234000000000004},0.41234000000000004,0.41233999999999998,0.41233999999999993,0.41233999999999998,0.41233999999999998]
[]
[null,"COGS Assumption: Straight Line Growth Rate",null,null,null,"NM","NM","NM",2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2]
[]
[null,"SG&A (Net of D&A)",null,"SL / % "]
[null,"Base Salaries",null,"%",null,4500,4500,{"$f":"IF($D50=\"%\",H$25*H61,G50)","v":4500},{"$f":"IF($D50=\"%\",I$25*I61,H50*(1+I$75))","v":4725},4961.25,5209.3125,5469.7781249999998,5743.2670312500004,6030.4303828125012,null,{"$f":"P$25*P61","v":4725},4961.25,5209.3125,5469.7781249999998,5743.2670312500004,6030.4303828125012,null,{"$f":"W$25*W61","v":4950},5445,5989.5000000000009,6588.4500000000025,7247.2950000000037,7972.024500000005,null,{"$f":"AD$25*AD61","v":5400},6480,7776,9331.1999999999989,11197.44,13436.928]
[null,"Utilities",null,"%",null,1280,1280,1280,1344,1411.2,1481.76,1555.8480000000002,1633.6404000000002,1715.3224200000004,null,1344,1411.2,1481.76,1555.8480000000002,1633.6404000000002,1715.3224200000004,null,1408,1548.8000000000002,1703.6800000000005,1874.0480000000009,2061.4528000000014,2267.5980800000016,null,1536,1843.2,2211.84,2654.2080000000001,3185.0496000000007,3822.0595200000007]
[null,"Fees for Professional Services",null,"%",null,1024,1024,1024,1075.2,1128.96,1185.4080000000001,1244.6784,1306.9123200000004,1372.2579360000004,null,1075.2,1128.96,1185.4080000000001,1244.6784,1306.9123200000004,1372.2579360000004,null,1126.4000000000001,1239.0400000000002,1362.9440000000004,1499.2384000000006,1649.162240000001,1814.0784640000013,null,1228.8000000000002,1474.5600000000002,1769.4720000000002,2123.3664000000003,2548.0396800000003,3057.6476160000007]
[null,"Insurance",null,"%",null,655.36,655.36,655.36,688.12799999999993,722.53440000000001,758.66111999999998,796.59417599999995,836.42388480000011,878.24507904000006,null,688.12799999999993,722.53440000000001,758.66111999999998,796.59417599999995,836.42388480000011,878.24507904000006,null,720.89599999999996,792.98560000000009,872.28416000000016,959.51257600000031,1055.4638336000005,1161.0102169600007,null,786.43200000000002,943.71839999999997,1132.46208,1358.9544959999998,1630.7453952000001,1956.8944742400001]
[null,"Telecommunications",null,"%",null,336,336,336,352.8,370.44,388.96199999999999,408.4101,428.83060500000005,450.27213525000008,null,352.8,370.44,388.96199999999999,408.4101,428.83060500000005,450.27213525000008,null,369.6,406.56000000000006,447.21600000000012,491.9376000000002,541.13136000000031,595.24449600000048,null,403.2,483.84000000000003,580.60800000000006,696.7296,836.0755200000001,1003.2906240000001]
[null,"Rent",null,"%",null,270,270,270,283.5,297.67500000000001,312.55875000000003,328.18668750000001,344.59602187500008,361.82582296875006,null,283.5,297.67500000000001,312.55875000000003,328.18668750000001,344.59602187500008,361.82582296875006,null,297,326.70000000000005,359.37000000000012,395.30700000000019,434.83770000000027,478.32147000000037,null,324,388.8,466.56,559.87200000000007,671.84640000000013,806.21568000000013]
[null,"Freight and Haulage",null,"%",null,200,200,200,210,220.5,231.52500000000001,243.10124999999999,255.25631250000004,268.01912812500007,null,210,220.5,231.52500000000001,243.10124999999999,255.25631250000004,268.01912812500007,null,220,242.00000000000003,266.20000000000005,292.82000000000011,322.1020000000002,354.31220000000025,null,240,288,345.6,414.72,497.66400000000004,597.19680000000005]
[null,"Indirect Materials",null,"%",null,175,175,175,183.75,192.9375,202.58437499999999,212.71359375,223.34927343750002,234.51673710937504,null,183.75,192.9375,202.58437499999999,212.71359375,223.34927343750002,234.51673710937504,null,192.5,211.75000000000003,232.92500000000007,256.21750000000009,281.83925000000016,310.02317500000021,null,210,252,302.40000000000003,362.88,435.45600000000007,522.54720000000009]
[null,"Bathroom Supplies",null,"%",null,110,110,110,115.5,121.27500000000001,127.33875,133.70568750000001,140.39097187500002,147.41052046875004,null,115.5,121.27500000000001,127.33875,133.70568750000001,140.39097187500002,147.41052046875004,null,121.00000000000001,133.10000000000002,146.41000000000005,161.05100000000007,177.15610000000009,194.87171000000015,null,132,158.4,190.08,228.096,273.71520000000004,328.45824000000005]
[null,"Other",null,"%",null,45,45,45,47.25,49.612499999999997,52.093125000000001,54.697781249999998,57.432670312500008,60.304303828125008,null,47.25,49.612499999999997,52.093125000000001,54.697781249999998,57.432670312500008,60.304303828125008,null,49.5,54.45,59.89500000000001,65.884500000000031,72.47295000000004,79.720245000000048,null,54,64.8,77.759999999999991,93.311999999999998,111.97440000000002,134.36928]
[]
[null,{"$f":"B50","v":"Base Salaries"},null,{"$f":"D50","v":"%"},null,{"$f":"IF(ISNUMBER(F50/F$25),F50/F$25,0)","v":0.09},0.09,{"$f":"AVERAGE(F61:G61)","v":0.09},{"$f":"CHOOSE($D$4,P61,W61,AD61)","v":0.09},{"$f":"CHOOSE($D$4,Q61,X61,AE61)","v":0.09},{"$f":"CHOOSE($D$4,R61,Y61,AF61)","v":0.09},{"$f":"CHOOSE($D$4,S61,Z61,AG61)","v":0.09},{"$f":"CHOOSE($D$4,T61,AA61,AH61)","v":0.09},{"$f":"CHOOSE($D$4,U61,AB61,AI61)","v":0.09},null,{"$f":"AVERAGE($F61:$G61)","v":0.09},{"$f":"AVERAGE($F61:$G61)","v":0.09},0.09,0.09,0.09,0.09,null,{"$f":"AVERAGE($F61:$G61)","v":0.09},{"$f":"AVERAGE($F61:$G61)","v":0.09},0.09,0.09,0.09,0.09,null,{"$f":"AVERAGE($F61:$G61)","v":0.09},{"$f":"AVERAGE($F61:$G61)","v":0.09},0.09,0.09,0.09,0.09]
[null,"Utilities",null,"%",null,2.5600000000000001E-2,2.5600000000000001E-2,{"$f":"AVERAGE(F62:G62)","v":2.5600000000000001E-2},2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,null,{"$f":"AVERAGE($F62:$G62)","v":2.5600000000000001E-2},2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,null,{"$f":"AVERAGE($F62:$G62)","v":2.5600000000000001E-2},2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,null,{"$f":"AVERAGE($F62:$G62)","v":2.5600000000000001E-2},2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2,2.5600000000000001E-2]
[null,"Fees for Professional Services",null,"%",null,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,null,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,null,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,null,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2,2.0480000000000002E-2]
[null,"Insurance",null,"%",null,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,{"$f":"CHOOSE($D$4,P64,W64,AD64)","v":1.3107199999999999E-2},{"$f":"CHOOSE($D$4,Q64,X64,AE64)","v":1.3107199999999999E-2},{"$f":"CHOOSE($D$4,R64,Y64,AF64)","v":1.3107199999999999E-2},{"$f":"CHOOSE($D$4,S64,Z64,AG64)","v":1.3107199999999999E-2},{"$f":"CHOOSE($D$4,T64,AA64,AH64)","v":1.3107199999999999E-2},{"$f":"CHOOSE($D$4,U64,AB64,AI64)","v":1.3107199999999999E-2},null,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,null,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,null,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2,1.3107199999999999E-2]
[null,"Telecommunications",null,"%",null,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,null,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,null,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,null,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3,6.7200000000000003E-3]
[null,"Rent",null,"%",null,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,null,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,null,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,null,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3,5.4000000000000003E-3]
[null,"Freight and Haulage",null,"%",null,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,null,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,null,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,null,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3,4.0000000000000001E-3]
[null,"Indirect Materials",null,"%",null,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,null,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,null,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,null,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3,3.5000000000000001E-3]
[null,"Bathroom Supplies",null,"%",null,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,null,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,null,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,null,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3,2.2000000000000001E-3]
[null,"Other",null,"%",null,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,null,{"$f":"AVERAGE($F70:$G70)","v":8.9999999999999998E-4},8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,null,{"$f":"AVERAGE($F70:$G70)","v":8.9999999999999998E-4},8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,null,{"$f":"AVERAGE($F70:$G70)","v":8.9999999999999998E-4},8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4,8.9999999999999998E-4]
[]
[null,"SG&A (Net of D & A)",null,null,null,{"$f":"SUM(F50:F59)","v":8595.36},8595.36,8595.36,9025.1280000000006,9476.384399999999,9950.2036200000002,10447.713801,10970.099491050001,11518.604465602502,null,{"$f":"SUM(P50:P59)","v":9025.1280000000006},9476.384399999999,9950.2036200000002,10447.713801,10970.099491050001,11518.604465602502,null,{"$f":"SUM(W50:W59)","v":9454.8960000000006},10400.385600000001,11440.424160000004,12584.466576000004,13842.913233600009,15227.204556960012,null,{"$f":"SUM(AD50:AD59)","v":10314.432000000001},12377.318399999998,14852.782079999999,17823.338496000008,21388.006195199996,25665.60743424001]
[null,"% of Sales",null,null,null,{"$f":"F72/F25","v":0.17190720000000001},0.17190720000000001,0.17190720000000001,0.17190720000000001,0.17190719999999998,0.17190720000000001,0.17190720000000001,0.17190720000000001,0.17190720000000001,null,{"$f":"P72/P25","v":0.17190720000000001},0.17190719999999998,0.17190720000000001,0.17190720000000001,0.17190720000000001,0.17190720000000001,null,{"$f":"W72/W25","v":0.17190720000000001},0.17190720000000001,0.17190720000000004,0.17190719999999998,0.17190720000000001,0.17190720000000001,null,{"$f":"AD72/AD25","v":0.17190720000000001},0.17190719999999998,0.17190719999999998,0.17190720000000007,0.17190719999999995,0.17190720000000007]
[]
[null,"SG&A Assumption: Straight Line Growth Rate",null,null,null,"NM","NM","NM",2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2]
[]
[null,"EBITDA",null,null,null,{"$f":"F44-F72","v":12021.64},12021.64,12021.64,12622.721999999998,13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507,16110.147357163123,null,{"$f":"P44-P72","v":12622.721999999998},13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507,16110.147357163123,null,{"$f":"W44-W72","v":13223.804},14546.184399999998,16000.802839999995,17600.883124000007,19360.971436400003,21297.068580040013,null,{"$f":"AD44-AD72","v":14425.968000000001},17311.161600000007,20773.393920000002,24928.072703999987,29913.687244800007,35896.424693759996]
[null,"% of Sales",null,null,null,{"$f":"F77/F25","v":0.2404328},0.2404328,0.2404328,0.24043279999999997,0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009,0.24043279999999992,null,{"$f":"P77/P25","v":0.24043279999999997},0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009,0.24043279999999992,null,{"$f":"W77/W25","v":0.2404328},0.24043279999999995,0.24043279999999986,0.2404328,0.24043279999999992,0.24043279999999997,null,{"$f":"AD77/AD25","v":0.2404328},0.24043280000000009,0.24043280000000003,0.24043279999999989,0.24043280000000003,0.24043279999999995]
[]
[null,"Adjustments to EBITDA"]
[null,"Fees for Professional Services",null,null,null,0,0,0,{"$f":"CHOOSE($D$4,P81,W81,AD81)","v":0},0,0,0,0,0,null,0,0,0,0,0,0,null,0,0,0,0,0,0,null,0,0,0,0,0,0]
[null,"Mgmt Adjustments",null,null,null,0,0,0,0,0,0,0,0,0,null,0,0,0,0,0,0,null,0,0,0,0,0,0,null,0,0,0,0,0,0]
[null,"Misc.",null,null,null,0,0,0,0,0,0,0,0,0,null,0,0,0,0,0,0,null,0,0,0,0,0,0,null,0,0,0,0,0,0]
[]
[null,"EBITDA",null,null,null,{"$f":"F77+SUM(F81:F83)","v":12021.64},12021.64,12021.64,12622.721999999998,13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507,16110.147357163123,null,12622.721999999998,13253.858100000001,13916.551005000001,14612.378555249996,15342.997483012507,16110.147357163123,null,13223.804,14546.184399999998,16000.802839999995,17600.883124000007,19360.971436400003,21297.068580040013,null,14425.968000000001,17311.161600000007,20773.393920000002,24928.072703999987,29913.687244800007,35896.424693759996]
[null,"% of Sales",null,null,null,{"$f":"F85/F25","v":0.2404328},0.2404328,0.2404328,0.24043279999999997,0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009,0.24043279999999992,null,{"$f":"P85/P25","v":0.24043279999999997},0.24043280000000003,0.24043280000000003,0.24043279999999992,0.24043280000000009,0.24043279999999992,null,{"$f":"W85/W25","v":0.2404328},0.24043279999999995,0.24043279999999986,0.2404328,0.24043279999999992,0.24043279999999997,null,{"$f":"AD85/AD25","v":0.2404328},0.24043280000000009,0.24043280000000003,0.24043279999999989,0.24043280000000003,0.24043279999999995]

{"sheet":"Debt Schedule","index":5,"n_rows":38,"n_cols":12,"rows_kept":38,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"DEBT SCHEDULE "]
[]
[null,{"$f":"'Exit Analysis'!K1","v":1}]
[null,null,null,null,"Projections"]
[null,null,null,"Transaction",{"$f":"'Post-Transaction Fncl Sts'!G6","v":1},{"$f":"'Post-Transaction Fncl Sts'!H6","v":2},{"$f":"'Post-Transaction Fncl Sts'!I6","v":3},{"$f":"'Post-Transaction Fncl Sts'!J6","v":4},{"$f":"'Post-Transaction Fncl Sts'!K6","v":5},{"$f":"'Post-Transaction Fncl Sts'!L6","v":6}]
[null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F7","v":2017},{"$f":"'Post-Transaction Fncl Sts'!G7","v":2018},{"$f":"'Post-Transaction Fncl Sts'!H7","v":2019},{"$f":"'Post-Transaction Fncl Sts'!I7","v":2020},{"$f":"'Post-Transaction Fncl Sts'!J7","v":2021},{"$f":"'Post-Transaction Fncl Sts'!K7","v":2022},{"$f":"'Post-Transaction Fncl Sts'!L7","v":2023}]
[null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F8","v":"2017-12-31"},{"$f":"'Post-Transaction Fncl Sts'!G8","v":"2018-12-31"},{"$f":"'Post-Transaction Fncl Sts'!H8","v":"2019-12-31"},{"$f":"'Post-Transaction Fncl Sts'!I8","v":"2020-12-31"},{"$f":"'Post-Transaction Fncl Sts'!J8","v":"2021-12-31"},{"$f":"'Post-Transaction Fncl Sts'!K8","v":"2022-12-31"},{"$f":"'Post-Transaction Fncl Sts'!L8","v":"2023-12-31"}]
[null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F9","v":12},{"$f":"'Post-Transaction Fncl Sts'!G9","v":12},{"$f":"'Post-Transaction Fncl Sts'!H9","v":12},{"$f":"'Post-Transaction Fncl Sts'!I9","v":12},{"$f":"'Post-Transaction Fncl Sts'!J9","v":12},{"$f":"'Post-Transaction Fncl Sts'!K9","v":12},{"$f":"'Post-Transaction Fncl Sts'!L9","v":12}]
[]
[]
[null,"REVOLVING LINE OF CREDIT",null,null,null,null,null,null,null,null,null,"Comments"]
[null,"Cash at Beginning of Year",null,null,{"$f":"'Post-Transaction Fncl Sts'!F75","v":0},{"$f":"'Post-Transaction Fncl Sts'!G75","v":1186.4282999999987},{"$f":"'Post-Transaction Fncl Sts'!H75","v":2983.0061399999995},{"$f":"'Post-Transaction Fncl Sts'!I75","v":4666.3597470000004},{"$f":"'Post-Transaction Fncl Sts'!J75","v":7019.4372843499987},{"$f":"'Post-Transaction Fncl Sts'!K75","v":9826.5374485675038}]
[null,"Plus: Additions",null,null,0,0,0,0,0,0]
[null,"FCF Prior To Revolver",null,null,{"$f":"'Post-Transaction Fncl Sts'!G185","v":1186.4282999999987},{"$f":"'Post-Transaction Fncl Sts'!H185","v":1796.5778400000008},{"$f":"'Post-Transaction Fncl Sts'!I185","v":1683.3536070000009},{"$f":"'Post-Transaction Fncl Sts'!J185","v":2353.0775373499982},{"$f":"'Post-Transaction Fncl Sts'!K185","v":2807.1001642175052},{"$f":"'Post-Transaction Fncl Sts'!L185","v":7901.3864224283752}]
[null,"Less: Minimum Cash Balance",null,null,0,0,0,0,0,0]
[null,"Cash Available / Cash Required",null,null,{"$f":"E13+E14+E15-E16","v":1186.4282999999987},2983.0061399999995,4666.3597470000004,7019.4372843499987,9826.5374485675038,17727.923870995881]
[null,"Revolver Balance",null,{"$f":"'Post-Transaction Fncl Sts'!F118","v":0},{"$f":"MAX(D18-E17,0)","v":0},0,0,0,0,0]
[null,"Interest Paid",0.08,null,{"$f":"AVERAGE(D18,E18)*$C$19*(E$9/12)","v":0},{"$f":"AVERAGE(E18,F18)*$C$19*(F$9/12)","v":0},0,0,0,0]
[null,"SENIOR DEBT"]
[null,"Beginning Balance",null,null,{"$f":"D24","v":30000},26250,22500,18000,13500,9000]
[null,"Plus: Additions ",null,null,0,0,0,0,0,0]
[null,"Less: Scheduled Amortization (% Amortization)",null,null,{"$f":"IF(D24>=$D$24*E26,$D$24*E26,0)","v":3750},{"$f":"IF(E24>=$D$24*F26,$D$24*F26,0)","v":3750},4500,4500,4500,0]
[null,"Ending Balance",null,{"$f":"'Post-Transaction Fncl Sts'!Q58","v":30000},{"$f":"E21+E22-E23","v":26250},22500,18000,13500,9000,9000]
[null,"Interest Paid",0.05,null,{"$f":"AVERAGE(D24,E24)*$C$25*(E$9/12)","v":1406.25},1218.75,1012.5,787.5,562.5,450]
[null,"% Amortization (Scheduled Amortization .. Debt Repayment)",null,null,0.125,0.125,0.15,0.15,0.15,0,null,"If total % Amortizaztion does not sum to 100%, must have an exit."]
[]
[null,{"$f":"UPPER('Post-Transaction Fncl Sts'!P57)","v":"SUB DEBT"}]
[null,"Beginning Balance",null,null,{"$f":"D32","v":10000},10000,10000,10000,10000,10000]
[null,"Plus: Additions",null,null,0,0,0,0,0,0]
[null,"Less: Scheduled Amoritzation","None",null,{"$f":"IF(AND(ISNUMBER($C$31),'PP&E Schedule'!K6<=$C$31),'Debt Schedule'!$D$32/$C$31,0)","v":0},{"$f":"IF(AND(ISNUMBER($C$31),'PP&E Schedule'!L6<=$C$31),'Debt Schedule'!$D$32/$C$31,0)","v":0},{"$f":"IF(AND(ISNUMBER($C$31),'PP&E Schedule'!M6<=$C$31),'Debt Schedule'!$D$32/$C$31,0)","v":0},{"$f":"IF(AND(ISNUMBER($C$31),'PP&E Schedule'!N6<=$C$31),'Debt Schedule'!$D$32/$C$31,0)","v":0},{"$f":"IF(AND(ISNUMBER($C$31),'PP&E Schedule'!O6<=$C$31),'Debt Schedule'!$D$32/$C$31,0)","v":0},{"$f":"IF(AND(ISNUMBER($C$31),'PP&E Schedule'!P6<=$C$31),'Debt Schedule'!$D$32/$C$31,0)","v":0},null,"Senior amortizes by % of principal. Sub amortizes by number of years."]
[null,"Ending Balance",null,{"$f":"'Post-Transaction Fncl Sts'!Q57","v":10000},{"$f":"E29+E30-E31","v":10000},10000,10000,10000,10000,10000]
[null,"Interest Paid",0.12,null,{"$f":"AVERAGE(D32:E32)*$C33*(E$9/12)","v":1200},{"$f":"AVERAGE(E32:F32)*$C33*(F$9/12)","v":1200},1200,1200,1200,1200]
[]
[null,"INTEREST EXPENSE"]
[null,"PIK Interest",null,null,0,0,0,0,0,0,null,"PIK interest to be addressed in future videos."]
[null,"Cash Interest",null,null,{"$f":"E19+E25+E33","v":2606.25},2418.75,2212.5,1987.5,1762.5,1650]
[null,"Total Interest",null,null,{"$f":"E36+E37","v":2606.25},2418.75,2212.5,1987.5,1762.5,1650]

{"sheet":"PP&E Schedule","index":6,"n_rows":35,"n_cols":16,"rows_kept":35,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"PP&E / D&A"]
[]
[null,{"$f":"'Exit Analysis'!K1","v":1}]
[null,null,null,null,null,null,null,null,null,null,"Projections"]
[null,null,null,null,null,null,null,null,null,"Transaction",{"$f":"'Post-Transaction Fncl Sts'!G6","v":1},{"$f":"'Post-Transaction Fncl Sts'!H6","v":2},{"$f":"'Post-Transaction Fncl Sts'!I6","v":3},{"$f":"'Post-Transaction Fncl Sts'!J6","v":4},{"$f":"'Post-Transaction Fncl Sts'!K6","v":5},{"$f":"'Post-Transaction Fncl Sts'!L6","v":6}]
[null,null,null,null,null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F7","v":2017},{"$f":"'Post-Transaction Fncl Sts'!G7","v":2018},{"$f":"'Post-Transaction Fncl Sts'!H7","v":2019},{"$f":"'Post-Transaction Fncl Sts'!I7","v":2020},{"$f":"'Post-Transaction Fncl Sts'!J7","v":2021},{"$f":"'Post-Transaction Fncl Sts'!K7","v":2022},{"$f":"'Post-Transaction Fncl Sts'!L7","v":2023}]
[null,null,null,null,null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F8","v":"2017-12-31"},{"$f":"'Post-Transaction Fncl Sts'!G8","v":"2018-12-31"},{"$f":"'Post-Transaction Fncl Sts'!H8","v":"2019-12-31"},{"$f":"'Post-Transaction Fncl Sts'!I8","v":"2020-12-31"},{"$f":"'Post-Transaction Fncl Sts'!J8","v":"2021-12-31"},{"$f":"'Post-Transaction Fncl Sts'!K8","v":"2022-12-31"},{"$f":"'Post-Transaction Fncl Sts'!L8","v":"2023-12-31"}]
[null,null,null,null,null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F9","v":12},{"$f":"'Post-Transaction Fncl Sts'!G9","v":12},{"$f":"'Post-Transaction Fncl Sts'!H9","v":12},{"$f":"'Post-Transaction Fncl Sts'!I9","v":12},{"$f":"'Post-Transaction Fncl Sts'!J9","v":12},{"$f":"'Post-Transaction Fncl Sts'!K9","v":12},{"$f":"'Post-Transaction Fncl Sts'!L9","v":12}]
[null,{"$f":"'Post-Transaction Fncl Sts'!B85","v":"PP&E Item 1"}]
[null,"Beginning Balance",null,null,null,null,null,null,null,null,{"$f":"J28","v":12000},12557.142857142857,12864.285714285714,12921.428571428571,12728.571428571428,12500]
[null,"Plus: Capital Expenditures",null,null,null,null,null,null,null,null,{"$f":"E20","v":1750},{"$f":"E21","v":1750},{"$f":"+E22","v":1750},{"$f":"+E23","v":1750},{"$f":"+E24","v":2000},{"$f":"+E25","v":2000}]
[]
[null,"Less: Depreciation"]
[null,"Asset Base","Yrs","% Asset Base",{"$f":"'Post-Transaction Fncl Sts'!F85","v":12000}]
[null,null,14,0.9,{"$f":"D16*$E$15","v":10800},null,null,null,null,null,{"$f":"MAX(0,IF(($C16*12)>=SUM(K$9:$K$9),$E16/($C16*12)*K$9,$E16-SUM(J16:$K16)))","v":771.42857142857156},{"$f":"MAX(0,IF(($C16*12)>=SUM($K$9:L$9),$E16/($C16*12)*L$9,$E16-SUM(K16:$K16)))","v":771.42857142857156},{"$f":"MAX(0,IF(($C16*12)>=SUM($K$9:M$9),$E16/($C16*12)*M$9,$E16-SUM($K16:L16)))","v":771.42857142857156},{"$f":"MAX(0,IF(($C16*12)>=SUM($K$9:N$9),$E16/($C16*12)*N$9,$E16-SUM($K16:M16)))","v":771.42857142857156},{"$f":"MAX(0,IF(($C16*12)>=SUM($K$9:O$9),$E16/($C16*12)*O$9,$E16-SUM($K16:N16)))","v":771.42857142857156},{"$f":"MAX(0,IF(($C16*12)>=SUM($K$9:P$9),$E16/($C16*12)*P$9,$E16-SUM($K16:O16)))","v":771.42857142857156}]
[null,null,7,{"$f":"1-D16","v":9.9999999999999978E-2},{"$f":"D17*$E$15","v":1199.9999999999998},null,null,null,null,null,{"$f":"MAX(0,IF(($C17*12)>=SUM(K$9:$K$9),$E17/($C17*12)*K$9,$E17-SUM(J17:$K17)))","v":171.42857142857139},{"$f":"MAX(0,IF(($C17*12)>=SUM($K$9:L$9),$E17/($C17*12)*L$9,$E17-SUM(K17:$K17)))","v":171.42857142857139},{"$f":"MAX(0,IF(($C17*12)>=SUM($K$9:M$9),$E17/($C17*12)*M$9,$E17-SUM($K17:L17)))","v":171.42857142857139},{"$f":"MAX(0,IF(($C17*12)>=SUM($K$9:N$9),$E17/($C17*12)*N$9,$E17-SUM($K17:M17)))","v":171.42857142857139},{"$f":"MAX(0,IF(($C17*12)>=SUM($K$9:O$9),$E17/($C17*12)*O$9,$E17-SUM($K17:N17)))","v":171.42857142857139},{"$f":"MAX(0,IF(($C17*12)>=SUM($K$9:P$9),$E17/($C17*12)*P$9,$E17-SUM($K17:O17)))","v":171.42857142857139}]
[]
[null,null,null,null,"CapEx",null,1,2,3]
[null,1,7,null,{"$f":"CHOOSE('Exit Analysis'!$K$1,'PP&E Schedule'!G20,'PP&E Schedule'!H20,'PP&E Schedule'!I20)","v":1750},null,1750,2000,3000,null,{"$f":"MAX(0,IF(($C20*12)>=SUM(K$9:$K$9),$E20/($C20*12)*K$9,$E20-SUM(J20:$K20)))","v":250},{"$f":"MAX(0,IF(($C20*12)>=SUM($K$9:L$9),$E20/($C20*12)*L$9,$E20-SUM(K20:$K20)))","v":250},{"$f":"MAX(0,IF(($C20*12)>=SUM($K$9:M$9),$E20/($C20*12)*M$9,$E20-SUM($K20:L20)))","v":250},{"$f":"MAX(0,IF(($C20*12)>=SUM($K$9:N$9),$E20/($C20*12)*N$9,$E20-SUM($K20:M20)))","v":250},{"$f":"MAX(0,IF(($C20*12)>=SUM($K$9:O$9),$E20/($C20*12)*O$9,$E20-SUM($K20:N20)))","v":250},{"$f":"MAX(0,IF(($C20*12)>=SUM($K$9:P$9),$E20/($C20*12)*P$9,$E20-SUM($K20:O20)))","v":250}]
[null,{"$f":"+B20+1","v":2},7,null,{"$f":"CHOOSE('Exit Analysis'!$K$1,'PP&E Schedule'!G21,'PP&E Schedule'!H21,'PP&E Schedule'!I21)","v":1750},null,1750,2000,3000,null,null,{"$f":"MAX(0,IF(($C21*12)>=SUM(L$9:$L$9),$E21/($C21*12)*L$9,$E21-SUM(K21:$L21)))","v":250},{"$f":"MAX(0,IF(($C21*12)>=SUM($L$9:M$9),$E21/($C21*12)*M$9,$E21-SUM(L21:$L21)))","v":250},{"$f":"MAX(0,IF(($C21*12)>=SUM($L$9:N$9),$E21/($C21*12)*N$9,$E21-SUM($L21:M21)))","v":250},{"$f":"MAX(0,IF(($C21*12)>=SUM($L$9:O$9),$E21/($C21*12)*O$9,$E21-SUM($L21:N21)))","v":250},{"$f":"MAX(0,IF(($C21*12)>=SUM($L$9:P$9),$E21/($C21*12)*P$9,$E21-SUM($L21:O21)))","v":250}]
[null,{"$f":"+B21+1","v":3},7,null,{"$f":"CHOOSE('Exit Analysis'!$K$1,'PP&E Schedule'!G22,'PP&E Schedule'!H22,'PP&E Schedule'!I22)","v":1750},null,1750,2000,3000,null,null,null,{"$f":"MAX(0,IF(($C22*12)>=SUM(M$9:$M$9),$E22/($C22*12)*M$9,$E22-SUM(L22:$M22)))","v":250},{"$f":"MAX(0,IF(($C22*12)>=SUM($M$9:N$9),$E22/($C22*12)*N$9,$E22-SUM(M22:$M22)))","v":250},{"$f":"MAX(0,IF(($C22*12)>=SUM($M$9:O$9),$E22/($C22*12)*O$9,$E22-SUM($M22:N22)))","v":250},{"$f":"MAX(0,IF(($C22*12)>=SUM($M$9:P$9),$E22/($C22*12)*P$9,$E22-SUM($M22:O22)))","v":250}]
[null,{"$f":"+B22+1","v":4},7,null,{"$f":"CHOOSE('Exit Analysis'!$K$1,'PP&E Schedule'!G23,'PP&E Schedule'!H23,'PP&E Schedule'!I23)","v":1750},null,1750,2250,3500,null,null,null,null,{"$f":"MAX(0,IF(($C23*12)>=SUM(N$9:$N$9),$E23/($C23*12)*N$9,$E23-SUM(M23:$N23)))","v":250},{"$f":"MAX(0,IF(($C23*12)>=SUM($N$9:O$9),$E23/($C23*12)*O$9,$E23-SUM(N23:$N23)))","v":250},{"$f":"MAX(0,IF(($C23*12)>=SUM($N$9:P$9),$E23/($C23*12)*P$9,$E23-SUM($N23:O23)))","v":250}]
[null,{"$f":"+B23+1","v":5},7,null,{"$f":"CHOOSE('Exit Analysis'!$K$1,'PP&E Schedule'!G24,'PP&E Schedule'!H24,'PP&E Schedule'!I24)","v":2000},null,2000,2250,3500,null,null,null,null,null,{"$f":"MAX(0,IF(($C24*12)>=SUM(O$9:$O$9),$E24/($C24*12)*O$9,$E24-SUM(N24:$O24)))","v":285.71428571428572},{"$f":"MAX(0,IF(($C24*12)>=SUM($O$9:P$9),$E24/($C24*12)*P$9,$E24-SUM(O24:$O24)))","v":285.71428571428572}]
[null,{"$f":"+B24+1","v":6},7,null,{"$f":"CHOOSE('Exit Analysis'!$K$1,'PP&E Schedule'!G25,'PP&E Schedule'!H25,'PP&E Schedule'!I25)","v":2000},null,2000,2250,3750,null,null,null,null,null,null,{"$f":"MAX(0,IF(($C25*12)>=SUM(P$9:$P$9),$E25/($C25*12)*P$9,$E25-SUM(O25:$P25)))","v":285.71428571428572}]
[null,"Total Depreciation",null,null,null,null,null,null,null,null,{"$f":"SUM(K16:K25)","v":1192.8571428571429},{"$f":"SUM(L16:L25)","v":1442.8571428571429},1692.8571428571429,1942.8571428571429,2228.5714285714284,2514.2857142857142]
[]
[null,"Ending Balance",null,null,null,null,null,null,null,{"$f":"E15","v":12000},{"$f":"K11+K12-K26","v":12557.142857142857},12864.285714285714,12921.428571428571,12728.571428571428,12500,11985.714285714286]
[null,"GOODWILL & INTANGIBLES"]
[null,"Goodwill",null,null,null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!F91","v":62766},{"$f":"J32","v":62766},62766,62766,62766,62766,62766]
[null,"Amortization of Intangible ",null,null,null,null,null,null,"NO",null,{"$f":"IF(ISNUMBER($I$31),$J$30/$I$31,0)*(K9/12)","v":0},0,0,0,0,0]
[null,"Net Intangible Assets",null,null,null,null,null,null,null,{"$f":"J30-J31","v":62766},62766,62766,62766,62766,62766,62766]
[null,"AMORTIZATION OF FINANCING FEES"]
[null,"Capitalized Financing Fee Asset",null,null,null,null,null,null,null,{"$f":"SUM('Sources & Uses'!G13:G15)","v":850},{"$f":"J34-K35","v":680},510,340,170,0,0]
[null,"Amortization",null,null,null,null,null,null,5,null,{"$f":"IF($I$35>='PP&E Schedule'!K6,'PP&E Schedule'!$J$34/$I$35,0)*(K9/12)","v":170},{"$f":"IF($I$35>='PP&E Schedule'!L6,'PP&E Schedule'!$J$34/$I$35,0)*(L9/12)","v":170},{"$f":"IF($I$35>='PP&E Schedule'!M6,'PP&E Schedule'!$J$34/$I$35,0)*(M9/12)","v":170},{"$f":"IF($I$35>='PP&E Schedule'!N6,'PP&E Schedule'!$J$34/$I$35,0)*(N9/12)","v":170},{"$f":"IF($I$35>='PP&E Schedule'!O6,'PP&E Schedule'!$J$34/$I$35,0)*(O9/12)","v":170},{"$f":"J34-SUM(K35:O35)","v":0}]

{"sheet":"Debt Ratios","index":7,"n_rows":48,"n_cols":11,"rows_kept":48,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"'Sources & Uses'!B1","v":"COMPANY"}]
[null,"DEBT RATIOS / LIQUIDITY"]
[null,"DEBT RATIOS ($000s)",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G7","v":2018},{"$f":"'Post-Transaction Fncl Sts'!H7","v":2019},{"$f":"'Post-Transaction Fncl Sts'!I7","v":2020},{"$f":"'Post-Transaction Fncl Sts'!J7","v":2021},{"$f":"'Post-Transaction Fncl Sts'!K7","v":2022},{"$f":"'Post-Transaction Fncl Sts'!L7","v":2023}]
[null,null,null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G9","v":12},{"$f":"'Post-Transaction Fncl Sts'!H9","v":12},{"$f":"'Post-Transaction Fncl Sts'!I9","v":12},{"$f":"'Post-Transaction Fncl Sts'!J9","v":12},{"$f":"'Post-Transaction Fncl Sts'!K9","v":12},{"$f":"'Post-Transaction Fncl Sts'!L9","v":12}]
[]
[null,"Cash"]
[null,"Beg. Cash Balance",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G192","v":0},{"$f":"'Post-Transaction Fncl Sts'!H192","v":1186.4282999999987},{"$f":"'Post-Transaction Fncl Sts'!I192","v":2983.0061399999995},{"$f":"'Post-Transaction Fncl Sts'!J192","v":4666.3597470000004},{"$f":"'Post-Transaction Fncl Sts'!K192","v":7019.4372843499987},{"$f":"'Post-Transaction Fncl Sts'!L192","v":9826.5374485675038}]
[null,"End Cash Balance",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G193","v":1186.4282999999987},{"$f":"'Post-Transaction Fncl Sts'!H193","v":2983.0061399999995},{"$f":"'Post-Transaction Fncl Sts'!I193","v":4666.3597470000004},{"$f":"'Post-Transaction Fncl Sts'!J193","v":7019.4372843499987},{"$f":"'Post-Transaction Fncl Sts'!K193","v":9826.5374485675038},{"$f":"'Post-Transaction Fncl Sts'!L193","v":17727.923870995881}]
[]
[null,"Fixed Charge Coverage "]
[null,"EBITDA ",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G48","v":12622.721999999998},{"$f":"'Post-Transaction Fncl Sts'!H48","v":13253.858100000001},{"$f":"'Post-Transaction Fncl Sts'!I48","v":13916.551005000001},{"$f":"'Post-Transaction Fncl Sts'!J48","v":14612.378555249996},{"$f":"'Post-Transaction Fncl Sts'!K48","v":15342.997483012507},{"$f":"'Post-Transaction Fncl Sts'!L48","v":16110.147357163123}]
[null,"CapEx",null,null,null,{"$f":"-'Post-Transaction Fncl Sts'!G176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!H176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!I176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!J176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!K176","v":2000},{"$f":"-'Post-Transaction Fncl Sts'!L176","v":2000}]
[null,"Cash Taxes",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G39+'Post-Transaction Fncl Sts'!G41","v":3245.2436999999991},{"$f":"'Post-Transaction Fncl Sts'!H39+'Post-Transaction Fncl Sts'!H41","v":3455.0902599999999},{"$f":"'Post-Transaction Fncl Sts'!I39+'Post-Transaction Fncl Sts'!I41","v":3683.0853980000002},{"$f":"'Post-Transaction Fncl Sts'!J39+'Post-Transaction Fncl Sts'!J41","v":3929.8084178999984},{"$f":"'Post-Transaction Fncl Sts'!K39+'Post-Transaction Fncl Sts'!K41","v":4176.805088795003},{"$f":"'Post-Transaction Fncl Sts'!L39+'Post-Transaction Fncl Sts'!L41","v":4457.3390932347493}]
[]
[null,"Cash Interest Expense",null,null,null,{"$f":"'Debt Schedule'!E37","v":2606.25},{"$f":"'Debt Schedule'!F37","v":2418.75},{"$f":"'Debt Schedule'!G37","v":2212.5},{"$f":"'Debt Schedule'!H37","v":1987.5},{"$f":"'Debt Schedule'!I37","v":1762.5},{"$f":"'Debt Schedule'!J37","v":1650}]
[null,"Mandatory Debt Repayment",null,null,null,{"$f":"-'Post-Transaction Fncl Sts'!G182","v":3750},{"$f":"-'Post-Transaction Fncl Sts'!H182","v":3750},{"$f":"-'Post-Transaction Fncl Sts'!I182","v":4500},{"$f":"-'Post-Transaction Fncl Sts'!J182","v":4500},{"$f":"-'Post-Transaction Fncl Sts'!K182","v":4500},{"$f":"-'Post-Transaction Fncl Sts'!L182","v":0}]
[null,"Fixed Charge Coverage Ratio",null,null,null,{"$f":"(F11-F12-F13)/(F15+F16)","v":1.1999965860373647},1.3047647967578524,1.2638310029050281,1.3768894238689784,1.4636634561624755,5.8501868266232577]
[]
[null,"Senior Leverage Ratio",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G120/F11","v":2.0795831517164052},{"$f":"'Post-Transaction Fncl Sts'!H120/G11","v":1.6976188993603303},{"$f":"'Post-Transaction Fncl Sts'!I120/H11","v":1.2934239233221565},{"$f":"'Post-Transaction Fncl Sts'!J120/I11","v":0.9238742309443978},{"$f":"'Post-Transaction Fncl Sts'!K120/J11","v":0.58658681329802986},{"$f":"'Post-Transaction Fncl Sts'!L120/K11","v":0.55865410790288594}]
[null,"Total Leverage Ratio",null,null,null,{"$f":"SUM('Post-Transaction Fncl Sts'!G118:G120)/F11","v":2.8718053047512262},{"$f":"SUM('Post-Transaction Fncl Sts'!H118:H120)/G11","v":2.4521161879649216},{"$f":"SUM('Post-Transaction Fncl Sts'!I118:I120)/H11","v":2.0119927696122435},{"$f":"SUM('Post-Transaction Fncl Sts'!J118:J120)/I11","v":1.608225513125433},{"$f":"SUM('Post-Transaction Fncl Sts'!K118:K120)/J11","v":1.2383499391847299},{"$f":"SUM('Post-Transaction Fncl Sts'!L118:L120)/K11","v":1.1793808944616482}]
[]
[null,"Net Debt"]
[null,"Subordinated Debt",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G119","v":10000},{"$f":"'Post-Transaction Fncl Sts'!H119","v":10000},{"$f":"'Post-Transaction Fncl Sts'!I119","v":10000},{"$f":"'Post-Transaction Fncl Sts'!J119","v":10000},{"$f":"'Post-Transaction Fncl Sts'!K119","v":10000},{"$f":"'Post-Transaction Fncl Sts'!L119","v":10000}]
[null,"Senior Debt",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G120","v":26250},{"$f":"'Post-Transaction Fncl Sts'!H120","v":22500},{"$f":"'Post-Transaction Fncl Sts'!I120","v":18000},{"$f":"'Post-Transaction Fncl Sts'!J120","v":13500},{"$f":"'Post-Transaction Fncl Sts'!K120","v":9000},{"$f":"'Post-Transaction Fncl Sts'!L120","v":9000}]
[]
[null,"Less: Cash Balance",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G75","v":1186.4282999999987},{"$f":"'Post-Transaction Fncl Sts'!H75","v":2983.0061399999995},{"$f":"'Post-Transaction Fncl Sts'!I75","v":4666.3597470000004},{"$f":"'Post-Transaction Fncl Sts'!J75","v":7019.4372843499987},{"$f":"'Post-Transaction Fncl Sts'!K75","v":9826.5374485675038},{"$f":"'Post-Transaction Fncl Sts'!L75","v":17727.923870995881}]
[]
[null,"Net Debt",null,null,null,{"$f":"F23+F24-F26","v":35063.5717},29516.993860000002,23333.640252999998,16480.562715650001,9173.4625514324962,1272.0761290041191]
[]
[null,"Senior Lender Bank Ratios"]
[]
[null,"EBITDA ",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G48","v":12622.721999999998},{"$f":"'Post-Transaction Fncl Sts'!H48","v":13253.858100000001},{"$f":"'Post-Transaction Fncl Sts'!I48","v":13916.551005000001},{"$f":"'Post-Transaction Fncl Sts'!J48","v":14612.378555249996},{"$f":"'Post-Transaction Fncl Sts'!K48","v":15342.997483012507},{"$f":"'Post-Transaction Fncl Sts'!L48","v":16110.147357163123}]
[null,"Cash Taxes",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G39+'Post-Transaction Fncl Sts'!G41","v":3245.2436999999991},{"$f":"'Post-Transaction Fncl Sts'!H39+'Post-Transaction Fncl Sts'!H41","v":3455.0902599999999},{"$f":"'Post-Transaction Fncl Sts'!I39+'Post-Transaction Fncl Sts'!I41","v":3683.0853980000002},{"$f":"'Post-Transaction Fncl Sts'!J39+'Post-Transaction Fncl Sts'!J41","v":3929.8084178999984},{"$f":"'Post-Transaction Fncl Sts'!K39+'Post-Transaction Fncl Sts'!K41","v":4176.805088795003},{"$f":"'Post-Transaction Fncl Sts'!L39+'Post-Transaction Fncl Sts'!L41","v":4457.3390932347493}]
[null,"CapEx",null,null,null,{"$f":"-'Post-Transaction Fncl Sts'!G176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!H176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!I176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!J176","v":1750},{"$f":"-'Post-Transaction Fncl Sts'!K176","v":2000},{"$f":"-'Post-Transaction Fncl Sts'!L176","v":2000}]
[]
[null,"Cash Interest Expense",null,null,null,{"$f":"'Debt Schedule'!E37","v":2606.25},{"$f":"'Debt Schedule'!F37","v":2418.75},{"$f":"'Debt Schedule'!G37","v":2212.5},{"$f":"'Debt Schedule'!H37","v":1987.5},{"$f":"'Debt Schedule'!I37","v":1762.5},{"$f":"'Debt Schedule'!J37","v":1650}]
[null,"Mandatory Debt Repayment",null,null,null,{"$f":"-'Post-Transaction Fncl Sts'!G182","v":3750},{"$f":"-'Post-Transaction Fncl Sts'!H182","v":3750},{"$f":"-'Post-Transaction Fncl Sts'!I182","v":4500},{"$f":"-'Post-Transaction Fncl Sts'!J182","v":4500},{"$f":"-'Post-Transaction Fncl Sts'!K182","v":4500},{"$f":"-'Post-Transaction Fncl Sts'!L182","v":0}]
[]
[]
[null,"Total Debt Service Coverage Ratio",null,"Minimum",1.25,{"$f":"(F32-F33-F34)/SUM(F36:F37)","v":1.1999965860373647},1.3047647967578522,1.2638310029050281,1.3768894238689784,1.4636634561624755,5.8501868266232577]
[]
[null,"Senior Leverage Ratio",null,"Maximum",2.75,{"$f":"'Post-Transaction Fncl Sts'!G120/F11","v":2.0795831517164052},{"$f":"'Post-Transaction Fncl Sts'!H120/G11","v":1.6976188993603303},{"$f":"'Post-Transaction Fncl Sts'!I120/H11","v":1.2934239233221565},{"$f":"'Post-Transaction Fncl Sts'!J120/I11","v":0.9238742309443978},{"$f":"'Post-Transaction Fncl Sts'!K120/J11","v":0.58658681329802986},{"$f":"'Post-Transaction Fncl Sts'!L120/K11","v":0.55865410790288594}]
[]
[null,"Total Leverage Ratio",null,"Maximum",4,{"$f":"SUM('Post-Transaction Fncl Sts'!G118:G120)/F11","v":2.8718053047512262},{"$f":"SUM('Post-Transaction Fncl Sts'!H118:H120)/G11","v":2.4521161879649216},{"$f":"SUM('Post-Transaction Fncl Sts'!I118:I120)/H11","v":2.0119927696122435},{"$f":"SUM('Post-Transaction Fncl Sts'!J118:J120)/I11","v":1.608225513125433},{"$f":"SUM('Post-Transaction Fncl Sts'!K118:K120)/J11","v":1.2383499391847299},{"$f":"SUM('Post-Transaction Fncl Sts'!L118:L120)/K11","v":1.1793808944616482}]
[]
[null,"Senior Leverage Ratio and Debt Burden Implies EBITDA Requirement of…",null,null,null,{"$f":"'Post-Transaction Fncl Sts'!G120/$E$42","v":9545.454545454546},{"$f":"'Post-Transaction Fncl Sts'!H120/$E$42","v":8181.818181818182},{"$f":"'Post-Transaction Fncl Sts'!I120/$E$42","v":6545.454545454545},{"$f":"'Post-Transaction Fncl Sts'!J120/$E$42","v":4909.090909090909},{"$f":"'Post-Transaction Fncl Sts'!K120/$E$42","v":3272.7272727272725},{"$f":"'Post-Transaction Fncl Sts'!L120/$E$42","v":3272.7272727272725}]
[]
[null,"Total Leverage Ratio and Debt Burden Implies EBITDA Requirement of…",null,null,null,{"$f":"SUM('Post-Transaction Fncl Sts'!G118:G120)/$E$44","v":9062.5},{"$f":"SUM('Post-Transaction Fncl Sts'!H118:H120)/$E$44","v":8125},{"$f":"SUM('Post-Transaction Fncl Sts'!I118:I120)/$E$44","v":7000},{"$f":"SUM('Post-Transaction Fncl Sts'!J118:J120)/$E$44","v":5875},{"$f":"SUM('Post-Transaction Fncl Sts'!K118:K120)/$E$44","v":4750},{"$f":"SUM('Post-Transaction Fncl Sts'!L118:L120)/$E$44","v":4750}]