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# Tax rate = 46%

Cash Flow Diagram
Revenue (R)
Operations
Cash Operating
Expenses (C)
Cash Flow
(CF)
Operating
income
Depreciation (D)
Gross
income
Net Income after
Taxes
Tax income (t)
Table 2: calculating R and C:
year
cash operating expenses
Revenue
operating income
Y
C
R
(R-C)
0
0
0
0
1
2400000
4200000
1800000
2
2720000
4760000
2040000
3
2850000
4940000
2090000
4
3000000
5400000
2400000
5
3000000
5600000
2600000
6
3200000
5800000
2600000
7
3060000
5400000
2340000
8
2890000
5100000
2210000
9
2700000
4200000
1500000
10
2340000
3640000
1300000
Table3: Calculating the cross income, tax income and net income after taxes.
year
operating income
Depreciation
cross income
tax
tax income
net income after taxes
Y
(R-C)
D (R-C-D)
t
t*(R-C-D)
(R-C-D)-t(R-C-D)
0
0 0
0 0
0
0
1
1800000
600000
1200000
0.46
552000
648000
2
2040000
600000
1440000
0.46
662400
777600
3
2090000
600000
1490000
0.46
685400
804600
4
2400000
600000
1800000
0.46
828000
972000
5
2600000
600000
2000000
0.46
920000
1080000
6
2600000
600000
2000000
0.46
920000
1080000
7
2340000
600000
1740000
0.46
800400
939600
8
2210000
600000
1610000
0.46
740600
869400
9
1500000
600000
900000
0.46
414000
486000
10
1300000
600000
700000
0.46
322000
378000
Table4: calculating the net cash flow.
year
net income after
taxes
Cash Flow
net cash flow
Y
(R-C-D)-t(R-C-D)
[(R-C-D)-t(R-C-D)] + D
previous cash flow + cash
flow
0
0 0
-6000000
1
648000
648000
-5352000
2
777600
1377600
-3974400
3
804600
1404600
-2569800
4
972000
1572000
-997800
5
1080000
1680000
682200
6
1080000
1680000
2362200
7
939600
1539600
3901800
8
869400
1469400
5371200
9
486000
1086000
6457200
10
378000
978000
7435200

# ------------------------------------------------------------------

## 7435200

Years
Cumulative Cash Position Chart
10
Life of Project Earning
8
6
4
Net Profit
over total life
of project
2
0
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
10
11
-2
-4
-6
Payback period
-8
Net cash flow
Total capital
investment
Million

The end