Business simulation final

509 views

Published on

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
509
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
9
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Business simulation final

  1. 1. Dec. 1, 2012 General Shareholders Meeting Business Report -Alexander Islands- 1
  2. 2. Objective Objective: To maximize the surplus “Maximize the cash-in and Minimize the cash-out” • Cash-out • Cost of merchandise (70% of total cost) • Account payable (30% of • Cash-in last cost of merchandise) • Cash revenue (60% of • Advertise expenses revenue) • Wages • Account receivable (40% • Freight cost of last revenue) • Office rent • Loan • Warehouse • Interest • Repay 2
  3. 3. Objective To maximize the cash-in… Revenue Price Price sensitivity to quantity…? Quantity Optimal Inventory control…? The best way is to keep the demand without reducing the price and the lack of inventories 3
  4. 4. Objective To minimize the cash-out… Cost Advertis ement Advertisement sensitivity to quantity…? Wasteful spending Optimal Inventory control…? Optimal procurement…? The best way is to control the advertisement and the procurement while getting the optimal discount 4
  5. 5. A) Enforcement of policy  Procurement strategy Never lose the opportunity for selling  Important tips are... 1) Predict the demand 2) Inventory control (watch the inventory and the demand for two months ahead) Minimize warehouse cost and purchase price Important tips are... 1) Never keep too much inventory 2) Keep the procurement over 1,200 units as much as possible 5
  6. 6. A) Enforcement of policy  Sales strategy Aim to sell 10% above the average Keep the price expensive (but a bit cheaper than competitors) 1) Price is not sensitive to the demand 2) But we expected the accumulating effect Change the advertisement sensitively 1) The advertisement is sensitive to the demand more than last session 2) Demand control will be easily done by changing the advertisement 6
  7. 7. B) Market status  Demand transition  Demand condition was drastically changed after round 5  Demand of Simon was higher than Herbert after round 7  Finally, demand was stable on final round 7,000 5,602 Number of demand 6,000 6,090 6,001 5,900 5,740 5,000 6,013 6,100 4,600 5,340 4,000 4,780 3,678 3,000 2,556 3,400 1,820 2,000 1,000 2,330 248 400 1 2 690 900 1,630 1,201 1,104 0 3 4 5 Simon 7 6 Herbert 7 8 9 10 11
  8. 8. C) B/S and P/L through the rounds  B/S Unit: dora CashOnHandAndDeposit 16,878 24,600 AccountReceivableTrade InventriesInSimon 11,000 InventriesInHervert 700,000 Land 35,792 TotalAssets 771,392 LiabilitiesAndStockholdersEquity 771,392 63,420 CashOnHandAndDeposit 33,446 AccountReceivableTrade 58,812 InventriesInSimon 2,791 InventriesInHervert 26,342 Land 650,000 TotalAssets 8 Borrowings 21,000 102,927 ShareCapital 700,000 650,000 CapitalSurplus 80,065 0 833,225 LiabilitiesAndStockholdersEquity 35,130 AccountReceivableTrade InventriesInSimon 11,000 InventriesInHervert 700,000 Land 48,700 TotalAssets 794,830 LiabilitiesAndStockholdersEquity 794,830 60,850 Round 5 32,160 Borrowings 21,000 118,802 ShareCapital 700,000 650,000 CapitalSurplus 86,915 0 840,075 LiabilitiesAndStockholdersEquity 23,470 32,835 AccountReceivableTrade InventriesInSimon 11,000 InventriesInHervert 700,000 Land 68,193 TotalAssets 812,028 LiabilitiesAndStockholdersEquity 812,028 62,284 Round 3 AccountPayableTrade Borrowings ShareCapital CapitalSurplus 833,225 AccountPayableTrade CashOnHandAndDeposit CashOnHandAndDeposit 8,513 AccountReceivableTrade 63,786 InventriesInSimon 4,210 InventriesInHervert 85,520 Land 650,000 TotalAssets 32,160 10,423 Round 2 AccountPayableTrade Borrowings ShareCapital CapitalSurplus Round 4 AccountPayableTrade CashOnHandAndDeposit CashOnHandAndDeposit 20,659 AccountReceivableTrade 53,626 InventriesInSimon 0 InventriesInHervert 70,545 Land 650,000 TotalAssets Round 1 AccountPayableTrade Borrowings ShareCapital CapitalSurplus 840,075 Round 6 AccountPayableTrade 24,600 Borrowings 21,000 99,437 ShareCapital 700,000 650,000 CapitalSurplus 89,591 0 835,191 LiabilitiesAndStockholdersEquity 835,191
  9. 9. C) B/S and P/L through the rounds  B/S Unit: dora CashOnHandAndDeposit 66,070 AccountReceivableTrade 74,472 AccountPayableTrade 24,600 InventriesInSimon 17,630 Borrowings 21,000 InventriesInHervert 40,136 ShareCapital 700,000 CashOnHandAndDeposit 97,161 Land 650,000 CapitalSurplus 102,708 AccountReceivableTrade 70,496 AccountPayableTrade 848,308 InventriesInSimon 29,353 Borrowings InventriesInHervert 31,141 ShareCapital 700,000 Land 650,000 CapitalSurplus 136,135 Round 7 848,308 LiabilitiesAndStockholdersEquity TotalAssets Round 10 42,015 0 CashOnHandAndDeposit 80,978 AccountReceivableTrade 70,992 AccountPayableTrade InventriesInSimon 31,371 Borrowings InventriesInHervert 22,626 ShareCapital 700,000 CashOnHandAndDeposit 79,863 Land 650,000 CapitalSurplus 123,807 AccountReceivableTrade 63,978 AccountPayableTrade 855,967 InventriesInSimon 15,942 Borrowings InventriesInHervert 54,486 ShareCapital 700,000 Land 650,000 CapitalSurplus 124,549 Round 8 855,967 LiabilitiesAndStockholdersEquity TotalAssets CashOnHandAndDeposit 110,854 AccountReceivableTrade 39,720 AccountPayableTrade InventriesInSimon 33,227 Borrowings InventriesInHervert 0 650,000 Land 9 TotalAssets 878,150 LiabilitiesAndStockholdersEquity 878,150 0 Round 9 13,800 0 ShareCapital 700,000 CapitalSurplus 120,001 833,801 LiabilitiesAndStockholdersEquity TotalAssets 32,160 833,801 TotalAssets Round 11 864,269 LiabilitiesAndStockholdersEquity 39,720 0 864,269
  10. 10. C) B/S and P/L through the rounds  B/S  Too many inventories seem to be a problem…  We should have shifted inventories to cash 250,000 Time series of B/S (excluding Land and Share capital) 200,000 150,000 Dora 100,000 50,000 0 -50,000 Round 1 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10 Round 11 -100,000 -150,000 -200,000 CashOnHandAndDeposit AccountReceivableTrade InventriesInSimon AccountPayableTrade Borrowings CapitalSurplus 10 InventriesInHervert
  11. 11. C) B/S and P/L through the rounds  P/L Unit: dora Round 1 AdvertisingExpense 6,740 Sales 147,030 Radio 6,000 CostOfSales 97,866 MagazineInSimon 280 GrossProfit 49,164 MargazineInHerbert 460 SellingGeneralAndAdministrativeExpenses 40,712 Wages 15,000 OperatingProfit 8,452 Freight-out 12,112 InterestExpense 660 RentExpense 4,000 OrdinaryProfit 7,792 Warehouse 2,860 Round 2 AdvertisingExpense 6,740 Sales 134,065 Radio 6,000 CostOfSales 75,688 MagazineInSimon 280 GrossProfit 58,377 MargazineInHerbert 460 SellingGeneralAndAdministrativeExpenses 44,808 Wages 15,000 OperatingProfit 13,569 Freight-out 11,168 InterestExpense 660 RentExpense 4,000 OrdinaryProfit 12,909 Warehouse 7,900 Round 3 AdvertisingExpense 7,280 Sales 159,465 Radio 6,000 CostOfSales 90,266 MagazineInSimon 500 GrossProfit 69,199 MargazineInHerbert 780 SellingGeneralAndAdministrativeExpenses 49,046 Wages 15,000 OperatingProfit 20,153 Freight-out 12,536 InterestExpense 660 RentExpense 4,000 OrdinaryProfit 11 19,493 Warehouse 10,230 8,300 Sales 158,550 Radio 6,000 CostOfSales 94,002 MagazineInSimon 500 GrossProfit 64,548 MargazineInHerbert 1,800 SellingGeneralAndAdministrativeExpenses 51,416 Wages 15,000 OperatingProfit 13,132 Freight-out 12,456 InterestExpense 1,260 RentExpense 4,000 OrdinaryProfit 11,872 Warehouse 11,660 Round 4 AdvertisingExpense 8,080 Sales 152,125 Radio 6,000 CostOfSales 91,326 MagazineInSimon 280 GrossProfit 60,799 MargazineInHerbert 1,800 SellingGeneralAndAdministrativeExpenses 52,690 Wages 15,000 OperatingProfit 8,109 Freight-out 12,200 InterestExpense 1,260 RentExpense 4,000 OrdinaryProfit 6,849 Warehouse 13,410 Round 5 AdvertisingExpense AdvertisingExpense 8,080 155,709 Radio 6,000 CostOfSales 101,365 MagazineInSimon 280 GrossProfit 54,344 MargazineInHerbert 1,800 SellingGeneralAndAdministrativeExpenses 50,408 Wages 15,000 OperatingProfit 3,936 Freight-out 12,328 InterestExpense 1,260 RentExpense 4,000 OrdinaryProfit 2,676 Warehouse 11,000 Round 6 Sales
  12. 12. C) B/S and P/L through the rounds  P/L 8,700 6,000 CostOfSales 123,670 MagazineInSimon 900 Round 10 GrossProfit 62,510 MargazineInHerbert 1,800 Sales SellingGeneralAndAdministrativeExpenses 48,132 Wages 15,000 CostOfSales OperatingProfit 14,378 Freight-out 14,272 GrossProfit InterestExpense 1,260 RentExpense 4,000 SellingGeneralAndAdministrativeExpense OrdinaryProfit 13,118 Warehouse 6,160 s OperatingProfit Round 8 AdvertisingExpense 6,700 InterestExpense Sales 177,480 Radio 4,000 OrdinaryProfit CostOfSales 110,969 MagazineInSimon 900 GrossProfit 66,511 MargazineInHerbert 1,800 Round 11 SellingGeneralAndAdministrativeExpenses 45,412 Wages 15,000 Sales OperatingProfit 21,099 Freight-out 13,792 CostOfSales InterestExpense 0 RentExpense 4,000 GrossProfit OrdinaryProfit 21,099 Warehouse 5,920 SellingGeneralAndAdministrativeExpense s Round 9 AdvertisingExpense 4,740 Round 7 Sales Sales CostOfSales GrossProfit SellingGeneralAndAdministrativeExpenses OperatingProfit InterestExpense OrdinaryProfit 12 Unit: dora AdvertisingExpense 186,180 Radio 99,300 Radio 4,000 66,770 MagazineInSimon 280 32,530 MargazineInHerbert 460 36,336 Wages 15,000 -3,806 Freight-out 9,296 0 RentExpense 4,000 -3,806 Warehouse 3,300 OperatingProfit InterestExpense OrdinaryProfit AdvertisingExpense 176,240 Radio 112,783 MagazineInSimon 63,457 MargazineInHerbert 6,700 4,000 900 1,800 47,322 Wages 15,000 16,135 0 16,135 Freight-out RentExpense 14,712 4,000 6,910 Warehouse AdvertisingExpense 159,945 Radio 122,465 MagazineInSimon 37,480 MargazineInHerbert 6,080 4,000 280 1,800 49,066 Wages 15,000 -11,586 0 -11,586 Freight-out RentExpense 15,696 4,000 8,290 Warehouse
  13. 13. C) B/S and P/L through the rounds  P/L  Too much warehouse cost seems to be a problem… 60,000 Time series of costs 50,000 Dora 40,000 30,000 20,000 10,000 0 Round 1 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10 Round 11 Radio MargazineInHerbert Wages Freight-out 13 MagazineInSimon RentExpense Warehouse InterestExpense
  14. 14. D) Sales to the final round, current profit, and transition graph of surplus  Sales to the final round  The drastic fall of sales on round 9 was disaster because of lack of inventories… 200,000 180,000 159,465 160,000 147,030 134,065 140,000 Dora 120,000 100,000 155,709 158,550 152,125 186,180 177,480 176,240 159,945 99,300 80,000 60,000 40,000 20,000 0 Round Round Round Round Round Round Round Round Round Round Round 1 2 3 4 5 6 7 8 9 10 11 14
  15. 15. D) Sales to the final round, current profit, and transition graph of surplus  Current profit to the final round  Current profit was really unstable  Especially round 9 and 11 was terrible 25,000 19,493 21,099 20,000 16,135 15,000 Dora 10,000 5,000 12,909 7,792 13,118 11,872 6,849 2,676 0 Round Round Round Round Round Round Round Round Round Round Round 1 2 3 4 5 6 7 8 9 10 11 -5,000 -3,806 -10,000 -15,000 15 -11,586
  16. 16. D) Sales to the final round, current profit, and transition graph of surplus  Surplus to the final round  Growth rate of surplus seems to be poor, as well as the falls on round 9 and 11 160,000 136,135 124,549 123,807 120,001 140,000 120,000 102,708 Dora 100,000 80,065 80,000 86,915 89,591 68,193 60,000 48,700 40,000 35,792 20,000 0 Round Round Round Round Round Round Round Round Round Round Round 1 2 3 4 5 6 7 8 9 10 11 16
  17. 17. E) Success point in management  To minimize the purchase price  Aimed to get the discount to minimize the purchase price (only in case that we had enough inventories)  To keep the price high and a bit cheaper than competitors  Aimed to get a bit much sales compared to others (only in case that we had enough inventories) Price Purchase cost/unit 95 90 90 90 90 160 140 85 Dora 90 120 80 81 77 77 81 81 145 150 150 150 150 150 145 145 150 145 145 145 150 145 149 145 145 150 77 40 70 20 65 105 80 60 75 150 130 100 77 140 simon herbert 0 Round Round Round Round Round Round Round Round Round Round Round 1 2 3 4 5 6 7 8 9 10 11 17 Round Round Round Round Round Round Round Round Round Round Round 1 2 3 4 5 6 7 8 9 10 11
  18. 18. F) Reflection point in management  To control inventories on the optimal way  A lot of inventories on former half and less inventories on latter half especially in Herbert  In result, we had much warehouse cost and lost the opportunity for selling each 1800 Inventory and procurement Number of products 1600 1400 Better rounds 1200 1000 Too much inventories 800 No inventories 600 400 200 0 Round 1 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10 Round 11 Inventory simon 18 Inventory herbert Procurement simon Procurement herbert
  19. 19. F) Reflection point in management  To control inventories on the optimal way  Misstook predicting the demand in both islands  Estimated too aggressive demand curve in both islands and that saturating condition will be coming soon  Cound not catch up with demand changes Based on last session… 12,000 Real condition… 10,000 y = -144.93x2 + 412.07x + 5676.2 R² = 0.9968 10,000 9,000 8,000 8,000 7,000 6,000 6,000 4,000 5,000 2,000 4,000 0 -2,000 y = 11.668x3 - 257.38x2 + 995.11x + 5147.5 R² = 0.9859 y = -12.14x3 + 249.72x2 - 758.69x + 881.87 R² = 0.9966 3,000 0 2 4 6 8 y = 72.143x2 + 326.54x - 145.4 R² = 0.9961 -4,000 -6,000 10 2,000 1,000 0 0 simon 19 herbert 1 2 3 4 Simon 5 6 Herbert 7 8 9 10 11
  20. 20. G) Comparison and cause analysis  Comparison of sales  Inventory control is the most important  Have no a big difference even between top and low teams except for rounds having no inventories for low teams  It means that almost same price and sales amount were set in every team 250000 200000 150000 100000 50000 0 Round 1 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round Round 10 11 Team 1 Team 2 Team 3 Team 4 Team 5 Team 6 20
  21. 21. G) Comparison and cause analysis  Comparison of current profit  The big difference of current profit  Top teams could keep the high current profit on average on all rounds  Current profits of low teams were not stable 40000 30000 20000 10000 0 Round 1 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10 Round 11 -10000 -20000 -30000 -40000 Team 1 21 Team 2 Team 3 Team 4 Team 5 Team 6
  22. 22. G) Comparison and cause analysis  Comparison of surplus  Stable growth is KSF  Top teams could keep the stable growth rate of surplus because of the stable current profit 300000 250000 200000 150000 100000 50000 0 Round 1 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10 Round 11 Team 1 22 Team 2 Team 3 Team 4 Team 5 Team 6
  23. 23. G) Comparison and cause analysis  Comparison of inventory  Inventories of top teams are significantly stable  Top teams have never lost the opportunities for selling and kept too much inventories in both islands  It is obvious that lost teams have experienced the lack of inventories on former half in Simon and on latter half in Herbert 180000 160000 Inventory assets in Simon 160000 140000 140000 Inventory assets in Herbert 60000 120000 Team 1 100000 Team 2 80000 Team 3 Team 4 60000 40000 Team 5 40000 Team 5 20000 Team 6 20000 Team 6 0 0 120000 100000 80000 23 Team 1 Team 2 Team 3 Team 4
  24. 24. H) Attached material  Strategy policy  Developed the core strategy not to lose our aims in advance  This is the land mark when we see what we cannot expect  Composed of procurement and sales strategy mainly 24
  25. 25. H) Attached material  Developed the simulator to monitor the change of surplus following input data ound 1 ound 2 ound 3 ound 4 ound 5 ound 6 ound 7 ound 8 ound 9 ound 10 ound 11 6,000 6,000 6,000 6,000 6,000 6,000 6,000 4,000 4,000 4,000 4,000 simon 4 4 2 2 4 4 1 1 4 1 herbert Adv. 4 4 2 1 1 1 1 1 4 1 radio magazine ound 2 ound 7 ound 8 ound 10 ound 11 150 150 150 150 150 145 145 150 140 150 dora/n 145 145 145 150 145 149 145 145 150 130 105 dora/n 1,000 850 700 600 800 600 200 200 0 0 50 n 300 350 500 200 0 600 200 1,500 1,600 1,200 1,200 n 0 0 10,000 0 0 0 -21,000 0 0 0 Loan Loans 11,000 11,000 11,000 21,000 21,000 ound 6 21,000 21,000 0 ound 9 0 100 1 145 herbert ound 5 120 1800 2 pages simon simon ound 4 780 900 pages 1 0 procurement ound 3 145 145 145 150 500 4 herbert 280 ound 1 price 145 150 150 150 140 4 herbert Product 160 460 simon dora dora 0 dora 80 12,000 y = -144.93x2 + 412.07x + 5676.2 R² = 0.9968 10,000 60 40 8,000 20 6,000 0 Ro un d Ro 1 un d Ro 2 un d Ro 3 un d 4 R Input form of advertisement, price and procurement INP 4,000 2,000 0 -2,000 Demand ound 1 ound 2 ound 7 ound 8 971 931 950 938 756 710 628 432 210 217 143 n 43 simon 67 117 157 325 441 656 792 868 1,122 1,319 Demand prediction ound 4 ound 5 ound 6 ound 9 4 5 6 7 10 5,056 4,087 2,931 1,459 -303 -2,355 -4,696 -7,328 1,468 2,420 3,241 4,411 5,675 7,084 8,637 10,334 12,176 ound 2 ound 3 ound 4 ound 5 ound 6 ound 7 ound 8 ound 9 ound 10 ound 11 6,090 6,001 5,900 5,740 5,340 4,780 3,400 2,330 1,630 1,201 1,104 248 400 690 900 1,820 2,556 3,678 4,600 5,602 6,013 6,100 ound 1 ound 2 ound 3 ound 4 ound 5 ound 6 ound 7 ound 8 ound 9 ound 10 ound 11 Herbert 3 4 5 y= 6 7 8 9 10 72.143x2 + 326.54x - 145.4 R² = 0.9961 -6,000 simon herbert y = 11.668x3 - 257.38x2 + 995.11x + 5147.5 R² = 0.98592 10,000 7,000 9,000 6,000 8,000 6,090 6,001 5,900 7,000 5,000 6,000 4,000 5,000 Inverntory ound -1 Inventory simon 29 0 50 0 0 0 172 340 330 313 170 n 0 257 790 973 1,166 1,341 1,100 444 252 0 378 659 n ound 1 ales 4,000 500 herbert Inventory monitor 2 11 5,615 712 ound 1 imon 3 5,861 298 herbert 2 5,972 simon 9 ound 11 1 total_prediction 8 ound 10 1 n herbert ound 3 0 -4,000 ound 2 971 43 simon herbert 829 67 ound 3 950 117 ound 4 900 157 ound 5 700 325 ound 6 ound 7 600 441 628 656 ound 8 432 792 ound 9 210 452 ound 10 217 1,122 y = -12.14x3 + 249.72x2 - 758.69x + 881.87 R² = 0.99656 2,000 2,000 1,000 ound 11 143 1,319 n n 1 147030 Cash-in ales Account eceivable Loan Cash-out Pay AccountPayable Cash flow monitor Adv. 134065 152125 155709 186180 177480 99300 5 Simon 7 9 Herbert 11 159465 158550 176240 159945 ound 2 ound 3 ound 4 ound 5 ound 6 ound 7 ound 8 ound 9 ound 10 ound 11 89,550 33,446 20,659 8,513 16,878 10,423 23,470 66,070 80,978 110,854 97,161 88,218 80,439 95,679 95,130 91,275 93,425 111,708 106,488 59,580 105,744 95,967 0 dora 59,700 58,812 53,626 63,786 63,420 60,850 62,284 74,472 70,992 39,720 70,496 63,978 dora Cash-in AccountReceivable 60,000 79,863 dora 0 0 0 10,000 0 0 0 0 0 0 0 0 dora 57,400 81,970 76,615 75,040 75,040 57,400 57,400 75,040 32,200 98,035 92,680 75,040 dora 105,250 24,600 35,130 32,835 32,160 32,160 24,600 24,600 32,160 13,800 42,015 39,720 dora 140,000 0 120,000 Cash-out Adv. Round 1 Round 2 Round 3 Round 4 Round 5 6,740 7,280 8,300 8,080 8,080 8,700 6,700 4,740 6,700 6,080 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 dora Freight 12,112 11,168 12,536 12,456 12,200 12,328 14,272 13,792 9,296 14,712 15,696 4,000 dora ent 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 dora 80,000 Debtor AccountReceivable 2,860 7,900 10,230 11,660 13,410 11,000 6,160 5,920 3,300 6,910 8,290 0 dora 60,000 Debtor Inventory 660 660 660 1,260 1,260 1,260 1,260 0 0 0 0 0 dora 40,000 Creditor AccountPayable epay 0 0 0 0 0 0 0 21,000 0 0 0 33,446 20,659 8,513 16,878 10,423 23,470 66,070 80,978 110,854 97,161 79,863 dora Cash-out AccountPayable 20,000 6,740 CahInHand #N/A Cash-out Pay 40,000 15,000 Interest 0 dora #N/A dora 100,000 Debtor Cash Creditor Borrowings 20,000 0 Round Round Round Round Round 1 2 3 4 5 urplus B/S and surplus monitor ound 3 ound 4 ound 5 ound 6 ound 7 ound 8 ound 10 ound 11 20,659 8,513 16,878 10,423 23,470 66,070 80,978 110,854 97,161 79,863 58,812 53,626 63,786 63,420 60,850 62,284 74,472 70,992 39,720 70,496 63,978 Inventory Land Creditor AccountPayable Borrowings Capital urplus 25 ound 2 33,446 ound 9 29,315 66,078 86,129 104,163 119,796 112,750 63,140 52,885 37,950 56,926 68,600 650,000 650,000 650,000 650,000 650,000 650,000 650,000 650,000 650,000 650,000 650,000 24,600 35,130 32,835 32,160 32,160 24,600 24,600 32,160 13,800 42,015 39,720 11,000 11,000 11,000 21,000 21,000 21,000 21,000 0 0 0 0 700,000 700,000 700,000 700,000 700,000 700,000 700,000 700,000 700,000 700,000 700,000 35,973 44,233 64,593 81,301 87,909 102,904 108,082 122,695 124,724 132,568 122,721 124,724 122,695 132,568 140,000 108,082 102,904 120,000 87,909 81,301 100,000 64,593 80,000 44,233 60,000 35,973 40,000 20,000 0 Ro un d Ro 1 un d Ro 2 un d Ro 3 un d Ro 4 un d Ro 5 un d Ro 6 un d Ro 7 un d Ro 8 un Ro d 9 un d 10 ound 1 Cash Account eceivable Debtor 2 Cash-in Sales Wages Warehouse 400 690 0 80,000 ound 1 BeginningCash 3 248 1 1,000 120,000 0 -1 100,000 Cash-Flow 3,000 3,000 3

×