$396,350 $560,000 $682,000Profit Before Interest and Taxes $35,650 $105,000 $167,000Interest Expense ST $3,600 $12,800 $12,800Interest Expense LT $5,000 $5,000 $5,000Taxes Incurred $0 $0 $0Net Profit $27,050 $87,200 $149,200Projected Cash Flow: Pro-Forma Cash Flow 2001 2002 2003____________________________________________________________________________________Net Profit: $27,050 $87,200 $149,200Depreciation $0 $0 $0Change in Accounts Payable $49,413 $16,799 $13,764Current Borrowing (repayment) $60,000 $100,000 $0Increase (decrease) Other Liabilities $0 $0 $0Long-term Borrowing (repayment) $50,000 $0 $0Capital Input $0 $0 $0Subtotal $186,463 $203,999 $162,964Change in Accounts Receivable $94,000 $5,750 $50,500Change in Inventory $0 $0 $0Change in Other ST Assets $0 $0 $0Capital Expenditure $0 $0 $0Dividends $0 $0 $0Subtotal $94,000 $5,750 $5...
