Flujo M$

FORMA A
Ao 0 Ao 1 Ao 2 Ao 3 Ao 4
Ingresos por Venta 23,000 23,000 29,000 29,000

Egresos
Costo variable 11,500 11,500 14,500 14,500
Costo fijo 2,000 2,000 2,000 2,000
Depreciacin 5,000 5,000 5,000 5,000
Amortizacin estudio tecnico 500 500
Gasto Administrativo 690 690 870 870
Total Egresos 19,690 19,690 22,370 22,370
UAII 3,310 3,310 6,630 6,630
Intereses 1,200 941 657 344
UAI 2,110 2,369 5,973 6,286
Impuesto 528 592 1,493 1,572
Utilidad Final 1,583 1,777 4,480 4,715
Depreciacin 5,000 5,000 5,000 5,000
Amortizacin de crdito 2,586 2,845 3,129 3,440
Flujo neto 3,997 3,932 6,351 6,275

Financiamiento
Aporte de la empresa 9,500
Crdito 12,000
Total Financiamiento 21,500
Inversion Inicial
Activo fijo 20,000
Capital de Trabajo 1,500
Total Inversin 21,500

Ao 0 Ao 1 Ao 2 Ao 3 Ao 4
Ingresos por Venta 29,800,000 42,200,000 54,400,000 67,000,000

Egresos
Costo variable 14,900,000 21,100,000 27,200,000 33,500,000
Arriendo 1,800,000 1,800,000 1,800,000 1,800,000
Depreciacin 300,000 300,000 300,000 300,000
Gasto Administrativo 2,500,000 2,500,000 3,000,000 3000000
Total Egresos 19,500,000 25,700,000 32,300,000 38,600,000
UAII 10,300,000 16,500,000 22,100,000 28,400,000
Intereses 50,000 30,000 16,000 3,000
UAI 10,250,000 16,470,000 22,084,000 28,397,000
Impuesto 2,562,500 4,117,500 5,521,000 7,099,250
Utilidad Final 7,687,500 12,352,500 16,563,000 21,297,750
Depreciacin 5,000 5,000 5,000 5,000
Amortizacin de crdito 3,000 3,000 3,000 3,000
Flujo neto 7,689,500 12,354,500 16,565,000 21,299,750

Financiamiento
Aporte de la empresa 12,500,000
Crdito 12,500,000
Total Financiamiento 25,000,000
Ao 5 Datos
18,000 Inversin
Maquinaria M$ 20.000 Se deprecia en 4 aos
Capital de trabajo M$ 1.500
9,000 Ao1 Ao 2
2,000 Ventas M$ 23.000 M$ 23.000

540
11,540
6,460
0 Perodo Cuota Intereses
6,460 0
1,615 1 3,786 1,200
4,845 2 3,786 941
3 3,786 657
4 3,784 344
4,845

Ao 5
40,000,000

Perodo Cuota Intereses

20,000,000 0
1,800,000 1 4,200 1,200
300,000 2 3,900 900
3300000 4 #REF! #REF!
25,400,000
14,600,000
0
14,600,000
3,650,000
10,950,000

10,950,000
e deprecia en 4 aos

Ao 3 Ao 4 Ao 5
M$29.000 M$29.000 M$18.000

Tasa interes 10%

Amortizacin Saldo Insoluto
12,000
2,586 9,414
2,845 6,569
3,129 3,440
3,440 0

Tasa interes 10%

Amortizacin Saldo Insoluto
12,000
3,000 9,000
3,000 6,000
3,000 #REF!