24 The following depictions of the company’s projected cash flow show that the company expects to maintain sufficient cash balances over the five years of this plan. The “pro forma cash flow” table differs from the “pro forma profit and loss” (P&L) table. Pro forma cash flow is intended to represent the actual flow of cash in and out of the company. In comparison, the revenue and expense projections on the P&L table include “noncash” items and exclude funding and investment illustration. Table 6 Cash flow statement 2020 2021 2022 2023 2024 Cash at the beginning of the period - 5 278 28 379 81 947 172 015 Cash received from customers 370 888 489 848 628 926 790 802 808 200 COGS (98 583) (130 094) (167 031) (210 640) (215 274) Operating profit margin 272 305 359 753 461 895 580 162 592 926 Salary and wages (216 000) (265 000) (321 000) (384 000) (384 000) General costs (62 421) (63 703) (65 041) (66 632) (68 098) Interest paid - - - - - Taxes 1 324 (7 949) (22 287) (39 463) (43 078) Cash flow from operating activities (4 791) 23 101 53 568 90 068 97 750 Land - - - - - Building costs - - - - - Purchase of equipment (124 181) - - - - Other expenditures (25 750) - - - - Cash flow from investing activities (149 931) - - - - Proceeds from capital contributed 160 000 - - - - Proceeds from loan - - - - - Payments on loan - - - - - Cash flow from financing activities 160 000 - - - - Net cash flow 5 278 23 101 53 568 90 068 97 750 FCFF (154 722) 23 101 53 568 90 068 97 750 Cash at the end of the period 5 278 28 379 81 947 172 015 269 765
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