USD $000's 2014A 2015A 2016E 2017E 2018E 2019E

Income Statement
Revenue 150,000.0 165,000.0 181,500.0 199,650.0 219,615.0 241,576.5
COGS 67,500.0 74,250.0 81,675.0 89,842.5 98,826.8 108,709.4
Gross Profit 82,500.0 90,750.0 99,825.0 109,807.5 120,788.3 132,867.1
SG&A 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0
EBITDA 66,000.0 72,600.0 79,825.0 89,807.5 100,788.3 112,867.1
Depreciation 6,600.0 7,260.0 9,075.0 9,982.5 10,980.8 12,078.8
Interest 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
EBT 58,400.0 64,340.0 69,750.0 78,825.0 88,807.5 99,788.3
Taxes 17,520.0 19,302.0 20,925.0 23,647.5 26,642.3 29,936.5
Net Income 40,880.0 45,038.0 48,825.0 55,177.5 62,165.3 69,851.8

Assumptions
Revenue growth 10.0% 10.0% 10.0% 10.0% 10.0%
COGS & of revenue 45.0% 45.0% 45.0% 45.0% 45.0% 45.0%
SG&A 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0
Depreciation % revenue 4.4% 4.4% 5.0% 5.0% 5.0% 5.0%
Interest 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
Tax rate 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%

Time Periods 6/19/2016 0 1 2 3 4 5

Monthly data 6/30/2016 7/31/2016 8/31/2016 9/30/2016 10/31/2016 11/30/2016
Annual data 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021

Monthly Period 0.03 0.12 0.20 0.28 0.37 0.45

Annual Period 0.53 1.53 2.53 3.53 4.53 5.53
Stub or Full Year Stub Full Year Full Year Full Year Full Year Full Year

Cost Analysis
COGS 15 67,500.0 74,250.0 81,675.0 89,842.5 98,826.8 108,709.4
SG&A 5 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0
Depreciation 7 6,600.0 7,260.0 9,075.0 9,982.5 10,980.8 12,078.8
Interest 3 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0 1,000.0
Taxes 0 17,520.0 19,302.0 20,925.0 23,647.5 26,642.3 29,936.5
Total 30 109,120.0 119,962.0 132,675.0 144,472.5 157,449.8 171,724.7

Average 21,824.0 23,992.4 26,535.0 28,894.5 31,490.0 34,344.9

Weighted Average 38,140.0 41,944.0 46,388.3 50,683.8 55,408.9 60,606.4
Median 16,500.0 18,150.0 20,000.0 20,000.0 20,000.0 20,000.0

Return Total Expenses

If <150000 150000 109,120.0 119,962.0 132,675.0 144,472.5 0.0 0.0
if >=150000 150000 0.0 0.0 0.0 0.0 157,449.8 171,724.7
Total expenses 109,120.0 119,962.0 132,675.0 144,472.5 157,449.8 171,724.7

Error check OK OK OK OK OK OK

kk
 2020E

265,734.2
119,580.4
146,153.8
20,000.0
126,153.8
13,286.7
1,000.0
111,867.1
33,560.1
78,307.0

10.0%
45.0%
20,000.0
5.0%
1,000.0
30.0%

6
12/31/2016
12/31/2022

0.53
6.53
Full Year

119,580.4
20,000.0
13,286.7
 1,000.0
33,560.1
187,427.2

37,485.4
66,323.7
20,000.0

0.0
187,427.2
187,427.2

OK