P

Financial Data at Year 0

Lables
Information Related to Income Statement
Sales Revenue
Interest Income
Cost of Sales
Depriciation
Debt Issuance Cost
Common Stock Issuance Cost
Common Stock Repurchase Brokarage Fees
Interest Expenses
Taxes
Dividends
Information Related to Balance Sheet
Cash & Marketable Securities
Accounts Receivable
Inventories
Accumulated Depriciation
Net Fixed Assets
Accounts Payable
Short- Term Debt
Long - Term Bonds
Accumulated Retained Earnings
Shares Outstanding

Year 0
$5,000,000.00
$4,800.00
$3,985,300.00
$280,000.00
$2,000.00
$4,200.00
$0.00
$120,000.00
$245,320.00
$217,800.00
$245,000.00
$495,000.00
$402,000.00
$565,000.00
$2,900,000.00
$595,000.00
$260,000.00
$1,100,000.00
$110,000.00
$501,400.00

Other Information - Expected Changes in next five

Lables
1
Change in Income Statement
Growth in Sales
10%
Cost of Sales
80%
Tax - Rate
40%
Dividend Payout Ratio
60%
Change in Balance Sheet
Cash and Marketable Securities
5%
Accounts Receivable
10%
Inventories
8%
Accounts Payable
12%
Short - term Debt
5%
Net - Fixed Assests (as a percentage of sales)
$
to
$
6,000,000
60%

to
$
6,000,000
$
8,000,000
55%
to
$
8,000,000
$
10,000,000
50%
to
$
10,000,000
$
15,000,000
40%
to
$
15,000,000

35%
Interest Rates to be used in the model
Risk - Free Rate
3%
Market Risk Premim
7%
Interest on Cash & Marketable Securities
2%
Interest on Short - Term Debt
5%
Interest on Long - Term Debt
10.50%
Interest on Newly Issued Bonds
5.80%
Extra rate of Return on Investment Capital
0.80%
Other Information - Beta , Issuing Cost and Brokerage Cost
of Common Stock
1.4
of Long - Term Bonds
0.4
Issuing cost for Common Stocks
8%
Issuing cost for Long - Term Bonds
3%
Brokerage Fee to repurchase the stock
2%
Depriciation Rate (as a percentage of Net Fixed Assets at the end of previous y
Dep. Rate
12%

Project 4: Forecasting of Financial Staements

Dash Board

d Changes in next five years

2

9%
80%
40%
60%

9%
80%
40%
60%

8%
80%
40%
60%

8% Data Validation : Growth can be negative , -50% to 50

80% 40% to 90%
40% 20% to 50%
60% 0 to 80%

5%
10%
8%
12%
5%

5%
10%
8%
12%
5%

5%
10%
8%
12%
5%

5% 2% to 12 %
10% 5% to 20%
8% 4 to 14%
12% 2 to 20%
5% 2 to 12 %

60%

60%

60%

60% 30% to 80%

55%
50%
40%
35%

55%
50%
40%
35%

55%
50%
40%
35%

3%
7%
2%
5%
10.50%
5.80%
0.80%

3%
7%
2%
5%
10.50%
5.80%
0.80%

3%
7%
2%
5%
10.50%
5.80%
0.80%

55% 25
50% 20
40% 15
35% 10

to
to
to
to

75%
70%
65%
60%

3% 1 to 9%
7% 3% to 12%
2% 1% to 8%
5% 2% to 12%
10.50% 5 to 20%
5.80% No data validation
0.80% 0.2% to 1.2%

st
1.4
0.4
8%
3%
2%
the end of previous year)
12%

1.4
0.4
8%
3%
2%

1.4
0.4
8%
3%
2%

12%

12%

1.4
0.4
8% 2 to 15%
3% 1 to 12%
2% 1 to 10%
12% 4% to 30%

negative 3 to +3

ements

can be negative , -50% to 50%

Lables
Sales Revenue
Interest Income
Total revenue
Cost of sales
Depreciation
Debt Issuance Cost
Common Stock issuance Cost
Common stock repurchase cost
Earnings before Interest & taxes
Interest Expense
Earnings before taxes
Taxes
Net income
Dividends
Addition to retained earnings
Lables
Cash & Marketable Securities
Accounts Receivable
Inventories
Current Assets
Gross Fixed Assets
Accumulated Depreciation
Net fixed Assets
TOTAL ASSETS
Accounts Payable
Short-term Debt
Current Liabilities
Long-Term Bonds
Total Liabilities
Common Stock

Accumulated Retained Earnings

Total Equity
TOTAL LIABILITIES + EQUITY
HPR Model

Lables
Total Amount required
New stocks issued/Repurchased
New Long-term Bonds Issued
Total Legacy Long-term Bonds outstanding

Lables
# Shares Issued (Repurchased)
# Shares Outstanding
Dividend Per Share
Stock Value

Financial Statements
Lables

Year 0

Year 1
Income statement

5,000,000 $

5,500,000

me

4,800 $

4,900

e Cost
ck issuance Cost
k repurchase cost
re Interest & taxes
nse
re taxes

tained earnings
Lables

$
$
$
$
$
$
$
$
$
$
$
$
$

5,004,800
3,985,300
280,000
2,000
4,200
733,300
120,000
613,300
245,320
367,980
217,800
150,180

Year 0

$
$
$
$
$
$
$
$
$
$
$
$
$

5,504,900
4,400,000
348,000
4,270
12,307
740,324
128,500
611,824
244,729
367,094
220,256
146,838

Year 1

$245,000
$495,000
$402,000
$1,142,000

Balance Sheet
$275,000
$550,000
$440,000
$1,265,000

ssets
Depreciation
ets
S

$3,465,000
$565,000
$2,900,000
$4,042,000

$4,213,000
$913,000
$3,300,000
$4,565,000

$595,000
$260,000
$855,000

$660,000
$275,000
$935,000

nds
s

$1,100,000
$1,955,000

$1,242,331
$2,177,331

ck

$1,977,000

$2,130,832

table Securities
eivable

able
ebt
ities

Retained Earnings

$110,000
$2,087,000
$4,042,000

TIES + EQUITY

$256,838
$2,387,669
$4,565,000

HPR Model

Lables
required
sued/Repurchased
m Bonds Issued
Long-term Bonds outstanding

Lables
ed (Repurchased)
standing
Share

Financing Required
Year 0

Year 1
0
0
0
1100000

0
153832
142331
1100000

Valuation (HPR Model)

Year 0

Year 1

0
501,400
$
6.74

21,478
522,878
0.44
7.16

al Statements

Year 2
e statement

Year 3

Year 4

Year 5

5,995,000 $

6,534,550 $

7,057,314 $

7,621,899

5,500 $

5,995 $

6,535 $

7,057

$
$
$
$
$
$
$
$
$
$
$
$
$

6,000,500
4,796,000
396,000
3,354
4,458
800,688
137,505
663,182
265,273
397,909
238,746
159,164

Year 2
ance Sheet

$
$
$
$
$
$
$
$
$
$
$
$
$

6,540,545
5,227,640
431,640
989
3,583
876,694
145,228
731,466
292,586
438,880
263,328
175,552

Year 3

$
$
$
$
$
$
$
$
$
$
$
$
$

7,063,849
5,645,851
431,280
3,329
615
982,773
148,488
834,285
333,714
500,571
300,343
200,228

Year 4

$
$
$
$
$
$
$
$
$
$
$
$
$

7,628,956
6,097,519
465,783
3,595
583
1,061,476
156,231
905,245
362,098
543,147
325,888
217,259

Year 5

$299,750
$599,500
$479,600
$1,378,850

$326,728
$653,455
$522,764
$1,502,947

$352,866
$705,731
$564,585
$1,623,182

$381,095
$762,190
$609,752
$1,753,037

$4,906,000
$1,309,000
$3,597,000
$4,975,850

$5,334,643
$1,740,640
$3,594,003
$5,096,949

$6,053,443
$2,171,920
$3,881,523
$5,504,705

$6,829,748
$2,637,703
$4,192,045
$5,945,081

$719,400
$299,750
$1,019,150

$784,146
$326,728
$1,110,874

$846,878
$352,866
$1,199,743

$914,628
$381,095
$1,295,723

$1,354,140
$2,373,290

$1,387,096
$2,497,970

$1,498,064
$2,697,808

$1,617,909
$2,913,632

$2,186,558

$2,007,426

$2,015,116

$2,022,409

$416,001
$2,602,560
$4,975,850

$591,553
$2,598,979
$5,096,949

$791,782
$2,806,897
$5,504,705

$1,009,040
$3,031,449
$5,945,081

ing Required
Year 2

Year 3
0
55726
254140
1100000

Year 4
0
-179133
287096
1100000

Year 5
0
7690
398064
1100000

0
7293
517909
1100000

n (HPR Model)
Year 2

7,311
530,189
0.46 $
7.62

Year 3
-22,106
508,083
0.50 $
8.10

Year 4
899
508,982
0.59 $
8.56

Year 5
808
509,790
0.64
9.03

0.68

Beta And Cost of Capital

Lables
D/E
D

Year 0
0.5786
0.2251

1.40

1.097
12.80%
13.60%
40%

Ke
Expected ROE
Retention Ratio/Plow Back Ratio
Growth Rate

Beta And Cost of Capital

Year 1
0.5814

Year 2
0.5872

Year 3
0.6067

Year 4
0.6193

Year 5
0.6331

0.2282

0.2282

0.2221

0.2221

0.2221

1.400

1.403

1.416

1.422

1.430

1.097
12.80%
13.60%
40%

1.097
12.82%
13.62%
40%

1.097
12.91%
13.71%
40%

1.097
12.96%
13.76%
40%

1.097
13.01%
13.81%
40%
5.523%

Financial Data at Year 0

Lables
Information Related to Income Statement
Sales Revenue
Interest Income
Cost of Sales
Depriciation
Debt Issuance Cost
Common Stock Issuance Cost
Common Stock Repurchase Brokarage Fees
Interest Expenses
Taxes
Dividends
Information Related to Balance Sheet
Cash & Marketable Securities
Accounts Receivable
Inventories
Accumulated Depriciation
Net Fixed Assets
Accounts Payable
Short- Term Debt
Long - Term Bonds
Accumulated Retained Earnings
Shares Outstanding

Year 0
$5,000,000.00
$4,800.00
$3,985,300.00
$280,000.00
$2,000.00
$4,200.00
$0.00
$120,000.00
$245,320.00
$217,800.00
$245,000.00
$495,000.00
$402,000.00
$565,000.00
$2,900,000.00
$595,000.00
$260,000.00
$1,100,000.00
$110,000.00
$501,400.00

Other Information - Expected Changes in next five

Lables
1
Change in Income Statement
Growth in Sales
10%
Cost of Sales
80%
Tax - Rate
40%
Dividend Payout Ratio
60%
Change in Balance Sheet
Cash and Marketable Securities
5%
Accounts Receivable
10%
Inventories
8%
Accounts Payable
12%
Short - term Debt
5%
Net - Fixed Assests (as a percentage of sales)
$
to
$
6,000,000
60%

to
$
6,000,000
$
8,000,000
55%
to
$
8,000,000
$
10,000,000
50%
to
$
10,000,000
$
15,000,000
40%
to
$
15,000,000

35%
Interest Rates to be used in the model
Risk - Free Rate
3%
Market Risk Premim
7%
Interest on Cash & Marketable Securities
2%
Interest on Short - Term Debt
5%
Interest on Long - Term Debt
10.50%
Interest on Newly Issued Bonds
5.80%
Extra rate of Return on Investment Capital
0.80%
Other Information - Beta , Issuing Cost and Brokerage Cost
of Common Stock
1.4
of Long - Term Bonds
0.4
Issuing cost for Common Stocks
8%
Issuing cost for Long - Term Bonds
3%
Brokerage Fee to repurchase the stock
2%
Depriciation Rate (as a percentage of Net Fixed Assets at the end of previous y
Dep. Rate
12%

Project 4: Forecasting of Financial Staements

Dash Board

d Changes in next five years

2

9%
80%
40%
60%

9%
80%
40%
60%

8%
80%
40%
60%

8% Data Validation : Growth can be negative , -50% to 50

80% 40% to 90%
40% 20% to 50%
60% 0 to 80%

5%
10%
8%
12%
5%

5%
10%
8%
12%
5%

5%
10%
8%
12%
5%

5% 2% to 12 %
10% 5% to 20%
8% 4 to 14%
12% 2 to 20%
5% 2 to 12 %

60%

60%

60%

60% 30% to 80%

55%
50%
40%
35%

55%
50%
40%
35%

55%
50%
40%
35%

3%
7%
2%
5%
10.50%
5.80%
0.80%

3%
7%
2%
5%
10.50%
5.80%
0.80%

3%
7%
2%
5%
10.50%
5.80%
0.80%

55% 25
50% 20
40% 15
35% 10

to
to
to
to

75%
70%
65%
60%

3% 1 to 9%
7% 3% to 12%
2% 1% to 8%
5% 2% to 12%
10.50% 5 to 20%
5.80% No data validation
0.80% 0.2% to 1.2%

st
1.4
0.4
8%
3%
2%
the end of previous year)
12%

1.4
0.4
8%
3%
2%

1.4
0.4
8%
3%
2%

12%

12%

1.4
0.4
8% 2 to 15%
3% 1 to 12%
2% 1 to 10%
12% 4% to 30%

negative 3 to +3

ements

can be negative , -50% to 50%

Lables
Sales Revenue
Interest Income
Total revenue
Cost of sales
Depreciation
Debt Issuance Cost
Common Stock issuance Cost
Common stock repurchase cost
Earnings before Interest & taxes
Interest Expense
Earnings before taxes
Taxes
Net income
Dividends
Addition to retained earnings
Lables
Cash & Marketable Securities
Accounts Receivable
Inventories
Current Assets
Gross Fixed Assets
Accumulated Depreciation
Net fixed Assets
TOTAL ASSETS
Accounts Payable
Short-term Debt
Current Liabilities
Long-Term Bonds
Total Liabilities
Common Stock

Accumulated Retained Earnings

Total Equity
TOTAL LIABILITIES + EQUITY
HPR Model

Lables
Total Amount required
New stocks issued/Repurchased
New Long-term Bonds Issued
Total Legacy Long-term Bonds outstanding

Lables
# Shares Issued (Repurchased)
# Shares Outstanding
Dividend Per Share
Stock Value
DDM Model

Lables
# Shares Issued (Repurchased)
# Shares Outstanding
Dividend Per Share
Stock Value

FCFF Model

Lables
# Shares Issued (Repurchased)
# Shares Outstanding
Dividend Per Share
Stock Value

Lables
Tax Rate

EBIT
Depriciation
Capital Expenditure
Net Working Capital
Increase in Net Working Capital
Interest Expense
Net Debt
Increase in Net Debt
FCFF
Firm Value
FCFE
Equity Value
Stock Value

Financial Statements
Lables

Year 0

Year 1
Income statement

5,000,000 $

5,500,000

me

4,800 $

4,900

e Cost
ck issuance Cost
k repurchase cost
re Interest & taxes
nse
re taxes

tained earnings
Lables

$
$
$
$
$
$
$
$
$
$
$
$
$

5,004,800
3,985,300
280,000
2,000
4,200
733,300
120,000
613,300
245,320
367,980
217,800
150,180

Year 0

$
$
$
$
$
$
$
$
$
$
$
$
$

5,504,900
4,400,000
348,000
4,270
12,307
740,324
128,500
611,824
244,729
367,094
220,256
146,838

Year 1

$245,000
$495,000
$402,000
$1,142,000

Balance Sheet
$275,000
$550,000
$440,000
$1,265,000

ssets
Depreciation
ets
S

$3,465,000
$565,000
$2,900,000
$4,042,000

$4,213,000
$913,000
$3,300,000
$4,565,000

$595,000
$260,000
$855,000

$660,000
$275,000
$935,000

nds
s

$1,100,000
$1,955,000

$1,242,331
$2,177,331

ck

$1,977,000

$2,130,832

table Securities
eivable

able
ebt
ities

Retained Earnings

$110,000
$2,087,000
$4,042,000

TIES + EQUITY

$256,838
$2,387,669
$4,565,000

HPR Model

Financing Required

Lables
required
sued/Repurchased
m Bonds Issued
Long-term Bonds outstanding

Year 0

Year 1
0
0
0
1100000

0
153832
142331
1100000

Valuation (HPR Model)

Lables
ed (Repurchased)
standing
Share

Year 0

Year 1

0
501,400

21,478
522,878
0.44
7.16

$
6.74

DDM Model

Valuation (DDM Model)

Lables
ed (Repurchased)
standing
Share

Year 0
0
$501,400.00
$
6

Year 1
21478.3287998129
$522,878.33
0.42
7

FCFF Model

Valuation (FCFF Model)

Lables
ed (Repurchased)
standing
Share

Year 0
0
$501,400.00
6

Year 1
21478.3287998129
$522,878.33
0.4212384826
7

Calculation of Free Cash Flow

Lables

Year 0

Year 1
0.4

40%

diture
Capital
et Working Capital
nse

et Debt

$
$

733,300 $
280,000 $
$287,000

120,000 $
$1,115,000

740,324
348,000
$300,669
$330,000
$43,000
128,500
$1,242,331
$127,331

al Statements

Year 2
e statement

Year 3

Year 4

Year 5

5,995,000 $

6,534,550 $

7,057,314 $

7,621,899

5,500 $

5,995 $

6,535 $

7,057

$
$
$
$
$
$
$
$
$
$
$
$
$

6,000,500
4,796,000
396,000
3,354
4,458
800,688
137,505
663,182
265,273
397,909
238,746
159,164

Year 2
ance Sheet

$
$
$
$
$
$
$
$
$
$
$
$
$

6,540,545
5,227,640
431,640
989
3,583
876,694
145,228
731,466
292,586
438,880
263,328
175,552

Year 3

$
$
$
$
$
$
$
$
$
$
$
$
$

7,063,849
5,645,851
431,280
3,329
615
982,773
148,488
834,285
333,714
500,571
300,343
200,228

Year 4

$
$
$
$
$
$
$
$
$
$
$
$
$

7,628,956
6,097,519
465,783
3,595
583
1,061,476
156,231
905,245
362,098
543,147
325,888
217,259

Year 5

$299,750
$599,500
$479,600
$1,378,850

$326,728
$653,455
$522,764
$1,502,947

$352,866
$705,731
$564,585
$1,623,182

$381,095
$762,190
$609,752
$1,753,037

$4,906,000
$1,309,000
$3,597,000
$4,975,850

$5,334,643
$1,740,640
$3,594,003
$5,096,949

$6,053,443
$2,171,920
$3,881,523
$5,504,705

$6,829,748
$2,637,703
$4,192,045
$5,945,081

$719,400
$299,750
$1,019,150

$784,146
$326,728
$1,110,874

$846,878
$352,866
$1,199,743

$914,628
$381,095
$1,295,723

$1,354,140
$2,373,290

$1,387,096
$2,497,970

$1,498,064
$2,697,808

$1,617,909
$2,913,632

$2,186,558

$2,007,426

$2,015,116

$2,022,409

$416,001
$2,602,560
$4,975,850

$591,553
$2,598,979
$5,096,949

$791,782
$2,806,897
$5,504,705

$1,009,040
$3,031,449
$5,945,081

ing Required
Year 2

Year 3
0
55726
254140
1100000

Year 4
0
-179133
287096
1100000

Year 5
0
7690
398064
1100000

0
7293
517909
1100000

n (HPR Model)
Year 2
7,311
530,189
0.46 $
7.62

Year 3
-22,106
508,083
0.50 $
8.10

Year 4

Year 5

899
508,982
0.59 $
8.56

808
509,790
0.64
9.03

Year 2
Year 3
Year 4
7310.7557666823 -22105.931328753 898.5245466981
$530,189.08
$508,083.15
$508,981.68
$
0.45 $
0.52 $
0.59 $
8
9
10

Year 5
807.9137380266
$509,789.59
0.64
11

n (DDM Model)

n (FCFF Model)
Year 2
Year 3
7310.7557666823 -22105.931328753
$530,189.08
$508,083.15
0.4503028784
0.5182769165
8
9

Year 4
898.5245466981
$508,981.68
0.5900851835
10

Year 5
807.9137380267
$509,789.59
0.6392599291
11

of Free Cash Flow

Year 2

Year 3
40%

Year 4
40%

Year 5
40%

40%

$
$

800,688 $
396,000 $
$214,890
$359,700
$29,700
137,505 $
$1,354,140
$111,810

876,694 $
431,640 $
($3,581)
$392,073
$32,373
145,228 $
$1,387,096
$32,956

982,773 $
431,280 $
$207,918
$423,439
$31,366
148,488 $
$1,498,064
$110,968

1,061,476
465,783
$224,552
$457,314
$33,875
156,231
$1,617,909
$119,845

0.68

0.6756373

Beta And Cost of Capital

Lables
D/E
D

Year 0
0.5786
0.2251

1.40

1.097
12.80%
13.60%
40%

Ke
Expected ROE
Retention Ratio/Plow Back Ratio
Growth Rate

Beta And Cost of Capital

Year 1
0.5814

Year 2
0.5872

Year 3
0.6067

Year 4
0.6193

Year 5
0.6331

0.2282

0.2282

0.2221

0.2221

0.2221

1.400

1.403

1.416

1.422

1.430

1.097
12.80%
13.60%
40%

1.097
12.82%
13.62%
40%

1.097
12.91%
13.71%
40%

1.097
12.96%
13.76%
40%

1.097
13.01%
13.81%
40%
5.523%

Financial Data at Year 0

Lables
Information Related to Income Statement
Sales Revenue
Interest Income
Cost of Sales
Depriciation
Debt Issuance Cost
Common Stock Issuance Cost
Common Stock Repurchase Broka
Interest Expenses
Taxes
Dividends
Information Related to Balance Sheet
Cash & Marketable Securities
Accounts Receivable
Inventories
Accumulated Depriciation
Net Fixed Assets
Accounts Payable
Short- Term Debt
Long - Term Bonds
Accumulated Retained Earnings
Shares Outstanding

Other Information - Expected Changes in

Lables
Change in Income Statement
Growth in Sales
Cost of Sales
Tax - Rate
Dividend Payout Ratio
Change in Balance Sheet
Cash and Marketable Securities
Accounts Receivable
Inventories
Accounts Payable
Short - term Debt
Net - Fixed Assests (as a percentage of sales)
to
$
###

to
###
###
to
###
###
to
###
###
to
###

Interest Rates to be used in the model

Risk - Free Rate
Market Risk Premim
Interest on Cash & Marketable Se
Interest on Short - Term Debt
Interest on Long - Term Debt
Interest on Newly Issued Bonds
Extra rate of Return on Investme
Other Information - Beta , Issuing Cost and Brokerage Cost
of Common Stock
of Long - Term Bonds
Issuing cost for Common Stocks
Issuing cost for Long - Term Bond
Brokerage Fee to repurchase the
Depriciation Rate (as a percentage of Net Fixed Assets at t
Dep. Rate

Dash Board

Data at Year 0
Year 0
Income Statement
$5,000,000.00
$4,800.00
$3,985,300.00
$280,000.00
$2,000.00
$4,200.00
$0.00
$120,000.00
$245,320.00
$217,800.00
Balance Sheet
$245,000.00
$495,000.00
$402,000.00
$565,000.00
$2,900,000.00
$595,000.00
$260,000.00
$1,100,000.00
$110,000.00
$501,400.00

r Information - Expected Changes in next five years

1
2
3
ement
10%
9%
9%
80%
80%
80%
40%
40%
40%
60%
60%
60%
et
5%
5%
5%
10%
10%
10%
8%
8%
8%
12%
12%
12%
5%
5%
5%
a percentage of sales)
60%
60%
60%

8%
80%
40%
60%

8% Data Validation : Growth can be negative

80% 40% to 90%
40% 20% to 50%
60% 0 to 80%

5%
10%
8%
12%
5%

5% 2% to 12 %
10% 5% to 20%
8% 4 to 14%
12% 2 to 20%
5% 2 to 12 %

60%

60% 30% to 80%

55%
50%
40%
35%

55%
50%
40%
35%

55%
50%
40%
35%

55%
50%
40%
35%

55% 25
50% 20
40% 15
35% 10

to
to
to
to

75%
70%
65%
60%

ed in the model

3%
3%
3%
3%
7%
7%
7%
7%
2%
2%
2%
2%
5%
5%
5%
5%
10.50%
10.50%
10.50%
10.50%
5.80%
5.80%
5.80%
5.80%
0.80%
0.80%
0.80%
0.80%
a , Issuing Cost and Brokerage Cost
1.4
1.4
1.4
1.4
0.4
0.4
0.4
0.4
8%
8%
8%
8%
3%
3%
3%
3%
2%
2%
2%
2%
percentage of Net Fixed Assets at the end of previous year)
12%
12%
12%
12%

3% 1 to 9%
7% 3% to 12%
2% 1% to 8%
5% 2% to 12%
10.50% 5 to 20%
5.80% No data validation
0.80% 0.2% to 1.2%
1.4
0.4
8% 2 to 15%
3% 1 to 12%
2% 1 to 10%
12% 4% to 30%

negative 3 to +3

ion : Growth can be negative , -50% to 50%

negative 3 to +3