Using the 2015 financial statements of Golden Enterprises, Inc.; complete the following:

  • Beginning with 2015 normalized net income of $1.6 million, determine 2015 net cash flow using the direct equity method (2015 only)
  • Determine a rate that you expect cash flows to increase between 2015 and 2016
  • Assuming a cost of capital of 15%, determine the value of Golden Enterprises using the capitalized cash flow approach and your estimate of net cash flows from above step

 Prepare a 1-2 page deliverable that shows

  1. A table showing your determination of the net cash flow using the direct equity method
  2. Your growth rates with a short explanation; include how you expect the sales growth to change over the next five years
  3. Your valuation determination and how you determined it 

 


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