List of Tables

Lindon Robison; Steven Hanson; J. Roy Black

List of Tables

Please note: tables with associated Excel files are linked to a downloadable file.

Alternative Forms of Business Organizations

Table 2.1. Comparison of Business Organizations.
Table 2.2. Farm Business Organization Types (USDA Census of Agriculture, 2007).

The Federal Tax System

Table 3.1. Federal Income Tax Rates in 2018.
Table 3.2. Farm Property Recovery Periods.
Table 3.3. Straight Line Recovery Rates for 3, 5, 7 Year Assets.
Table 3.4. MACRS Recovery Rates for 3, 5, and 7-Year Assets.

Financial Statements

Table 4.1. Year End Balance Sheet for HQN (all numbers in 000s).
Table 4.2. HQN’s 2018 Checkbook.
Table 4.3. HQN’s 2018 SAUF Statement.
Table 4.4a. HQN’s 2018 Statement of Cash Flow.
Table 4.4b. HQN’s 2018 Statement of Cash Flow.
Table 4.5. HQN’s 2018 Cash Income Statement (all number in $000s).
Table 4.6. HQN’s 2018 Accrual Income Statement (all numbers in $000s).
Table 4.7. FFF supplied Ending Period Balance Sheets.
Table 4.8. FFF’s 2018 Ending Period Balance Sheets.
Table 4.9. FFF’s 2018 Accrual Income Statement (all numbers in $000s).
Table 4.10. FFF’s 2018 Cash Income Statement.
Table 4.11. Statement of Cash Flow.

Financial Ratios

Table 5.1. Coordinated financial statement for HiQuality Nursery (HQN) for the year 2018.
Table 5.2. Net Working Capital for HQN.
Table 5.3. Comparing Sweet 16 Ratios with SPELL ratios.
Table 5.4. HQN ratios for 2018 & Industry Average Ratios in Quartiles.
Table 5.5. Summary of HQN’s 2018 Financial Strengths & Weaknesses.

System Analysis

Table 6.1. Coordinated Financial Statements for Hi-Quality Nursery Cash Receipts = $39,990.
Table 6.2. HQN Ratio Analysis after a $1,000 increase in Cash Receipts.
Table 6.3. HQN’s SPELL Analysis for Scenario 4.
Table 6.4. Goal Seek Template.
Table 6.5. What If Analysis using SPELL Ratios.
Table 6.6. Common Size Balance Sheets for HQN.
Table 6.7. Accrued Common Size Income Statements for HQN.
Table 6.8. The Squeeze vs. The Bulge.
Table 6.9. HQN’s Coordinated Financial Statements for Year 2018 after a cash receipts change in an exogenous variable.

Homogeneous Sizes

Table 9.1. Inconsistent IRR and NPV rankings and unstable NPV rankings among three mutually exclusive investments of different initial and periodic cash flows.
Table 9.2. Rankings Allowing NPV models (IRR models) to reinvest periodic cash flows at the defender’s IRR (challengers’ IRRs). Investment rankings indicated in parentheses below NPVs and IRRs values.
Table 9.3. Allowing NPV and IRR models to reinvest periodic cash flows at same reinvestment rate equal to challenger 3’s IRR. Investment rankings indicated in parentheses below NPVs and IRRs values.
Table 9.4. Consistent MIRR, scaled MIRR, and IRR rankings obtained by scaling initial investment sizes and periodic cash flows assuming the reinvestment rates are equal to the investments’ IRRⁱ where i = 1,2,3.
Table 9.5. Consistent size adjusted MIRR and MNPV rankings obtained by scaling initial investment sizes and periodic cash flows assuming the reinvestment rate equal to the defender’s IRR of r = 5%.
Table 9.6. Added MIRRs and added MNPVs assuming the reinvestment rate is the defender’s IRR of r = 5%.
Table: 9.7. Alternative methods for adjusting challenging investments to resolve periodic and initial size differences assuming equal term and risk.
Table Q9.1. NPVs and IRRs for two mutually exclusive investments assuming a discount rate equal to the defender’s IRR of r = 5%.
Table Q9.2. MNPVs and MIRRs for two mutually exclusive investments assuming a discount and reinvestment rate of r = 5%.
Table Q9.3. MNPVs and MIRRs for two mutually exclusive investments assuming a discount and reinvestment rate of r = 5% and reinvestment rates equal to the investments’ IRRs.
Table Q9.4. Scaled MNPVs and MIRRs for two mutually exclusive investments assuming a discount and reinvestment rate of r = 5%.
Table Q9.5. Scaled MNPVs and MIRRs for two mutually exclusive investments assuming a discount rate of r = 5% and reinvestment rates equal to the investments’ IRRs.
Table Q9.6. Added MNPVs and MIRRs for two mutually exclusive investments assuming a discount rate of r = 5% and reinvestment rates equal to the defender’s IRR of r = 5%.
Table Q9.7. Added MNPVs and MIRRs for two mutually exclusive investments assuming a discount rate of r = 5% and reinvestment rates equal to the investments’ IRRs.
Table Q9.8. Summary of rankings described in Tables Q9.1 through Q9.7.

Homogeneous Terms

Table 10.1a. Alternative percentage capitalization rates (r – g)/(1 + g) depending on alternative values of g > 0 and r.
Table 10.1b. Alternative percentage capitalization rates (r – g)/(1 + g) depending on alternative values of g < 0 and r.
Table 10.2a. How to Find an AE for an Irregular Stream of Cash Flow.
Table 10.2b. How to Find an AE for an Irregular Stream of Cash Flow.
Table 10.3. The Influence of periodic Size and Term Differences Created by Differential Withdrawals.
Table 10.4. Resolving Term Differences Between Two Challengers by Reinvesting $1,000 of Period One Earnings at its One-period IRR of 18% and Reinvesting other Funds at the Defender’s IRR of 10%.
Table 10.5. Resolving Term Inconsistencies by Calculating AE for an Investment and the Investment and a Replacement Assuming Defender’s IRR is 10%.
Table 10.6. Ranking Adjusted for Term Differences and Technologically Improved Replacements. Rankings Assuming Defender’s IRR is 10%.
Table 10.7. An Example of a Growth and Decay Type Investment.
Table 10.8. An Example of a Light Bulb Type Investment.
Table 10.9. An Example of the Continual Decay Type Investment.
Table 10.10 Investments With Irregular Cash Flow Characterized by Constant and then Declining Cash Flow with an Income Spike in the last Period of the Investment’s Economic Life. The Discount and Reinvestment Rates are Assumed to Equal 10%.
Table Q10.1. The influence of periodic size and term differences created by differential withdrawals assuming a reinvestment rate equal to the defender’s IRR of 10%. The discount rate for the NPV and MNPV models equal the defender’s IRR. The discount rate for the IRR and MIRR models are the IRRs and MIRRs.
Table Q10.2. The influence of periodic size and term differences created by differential withdrawals assuming a reinvestment rate equal to the challenger’s IRRs. The discount rate for the NPV and MNPV models equal the defender’s IRR. The discount rate for the IRR and MIRR models are the IRRs and MIRRs.

Homogeneous Rates of Return

Table 12.1. HQN’s 2018 Accrual income statement.
Table 12.2. Beginning and Ending Balance Sheets for HQN (all numbers in 000s).
Table 12.3. Reconciling the Change in HQN’s Assets versus Change in Beginning Assets Measured by EBIT.
Table 12.4 HQN 2018 Cash Flow (Cash Receipts minus Cash Expenses).
Table 12.5. HQN 2018 Changes in Operating and Capital Accounts.
Table 12.6. A Generalized PV Model Template with Rolling NPV and AE Estimates Corresponding to NIAT Measures from AIS.
Table 12.7. A Generalized PV Model Template with Rolling NPV and AE Estimates Corresponding to EBIT Measures from AIS.
Table 12.8. A Generalized PV Model Template with Rolling NPV and AE Estimates Corresponding EBT Measures from AIS.

Homogeneous Investment Types

Table 13.1. Ranking investments C1, C2, and the difference (C1–C2) with rankings in parentheses.
Table 13.2. PV Template for Rolling Estimates of NPV, AE, and IRR for Green and Clean Services (GCS).
Table 13.3. ATCF, NPV, AE, and IRR for GCS for economic lives of 1, 2, 3, and 4 years for an investment of $40,000.
Table 13.4. PV Template for Rolling Estimates of NPV, AE, and IRR for Equity Invested in Green and Clean Services (GCS).
Table 13.5. ATCF, NPV, AE, and IRR for GCS for economic lives of 1, 2, 3, and 4 years for equity of $30,000 invested in GCS.
Table 13.6a. Excel Template Constants Worksheet Tab.
Table 13.6b. Excel Template IRRs Worksheet Tab.
Table 13.6c. Excel Template Capital Account Worksheet Tab.
Table 13.6d. Excel Template Liquidation Value Worksheet Tab.
Table 13.6e. Excel Template Book Value Worksheet Tab.
Table 13.6f. Excel Template Depreciation Worksheet Tab.
Table 13.6g. Excel Template Operating Accounts Worksheet Tab.
Table 13.6h. Excel Template Cash Receipts Worksheet Tab.
Table 13.6i. Excel Template COGS Worksheet Tab.
Table 13.6j. Excel Template Cash OE Worksheet Tab.
Table 13.7. PV Template for Rolling Estimates of NPV, AE, and IRR for Green and Clean Services (GCS) Assuming Constant CR and COGS.
Table 13.8. PV Template for Rolling Estimates of NPV, AE, and IRR for Green and Clean Services (GCS) Assuming Constant % Δ in CR and COGS.
Table 13.9. PV Template for Rolling Estimates of NPV, AE, and IRR for Green and Clean Services (GCS) Assuming Linear Δ in CR and COGS.
Table 13.10. Excel Forecast Estimate.
Table 13.11. Finding ATCF for Continuing to Operate with the Old Doughnut Machine.
Table 13.12. Old Doughnut Machine Operating ATCF.
Table 13.13. Old Doughnuts Machine.
Table 13.14a. New Doughnut Machine Depreciation.
Table 13.14b. New Doughnut Machine Tax Savings.
Table 13.15. New Doughnut Machine Operating ATCF.
Table 13.16. New Doughnut Machine NPV.
Table 13.17. New Doughnuts Machine.
Table Q13.1. A summary of per mile and monthly costs of driving a clunker, a new car, and a used car.

Homogeneous Liquidity

Table 14.1. Values of CTR ratios where CTR_t = (r – g) / r.
Table 14.2. Values of PE ratios where PE_t = 1/(r – g) = 1 / (rCTR_t).
Table 14.3. Calculating US₀(r^f = 7%, n=20).

Homogeneous Risk Measures

Table 15.1. pdfs and Random Variables Associated with Investments A and B.
Table 15.2. Decision Matrix for Insurance Versus No Insurance with a Discrete Disaster Outcome.
Table 15.3. Decision Matrix for Revenue with Insurance Versus no Insurance with Discrete Outcomes.
Table 15.4. Decision Matrix for Revenue Insurance Versus No Insurance with Discrete Outcomes.
Table 15.5. Expected Returns and Variances on Investments in Sunglasses and Umbrella.
Table 15.6. Observations of Returns on the Firm’s Portfolio of Investments r_t^p and on a Potential New Investment (a Challenger).
Table 15.7. Returns per Acre under Alternative Moisture States with and without an Irrigation System.
Table 15.8. ROEs whose Expected Values and Standard Deviations depend on Leverage Ratios.
Table 15.9 Optimal leverage ratios and changes in the optimal leverage ratio in response to increases in one of the variables in equation (15.56) holding the other variables constant.
Table Q15.1. Observations of Returns on the Firm’s Two Investments.

Loan Analysis

Table 16.1. Finding an effective interest rate compounded quarterly.
Table 16.2. Finding an effective interest rate compounded monthly.
Table 16.3. Finding an effective interest rate compounded continuously.
Table 16.4. Finding the Loan Amount in a Constant Payment Loan.
Table 16.5. Finding the Constant Loan Payment.
Table 16.6. Finding the Number of Payments required to Retire a Loan.
Table 16.7. Point elasticity measures for loans of alternative terms and interest rates.
Table 16.8. Finding the Loan Principal Paid on the t^th Payment.
Table 16.9. Finding the Loan Interest Paid on the t^th Payment.

Land Investments

Table 17.1. Percentage changes in asset values corresponding to small changes in real interest rates for alternative values of r^* and for assets with various degrees of durability characterized by the variable g^*.
Table 17.2. Percentage changes in asset values corresponding to 1% changes in real growth rate for alternative values of r^*and for assets with various degrees of durability characterized by the variable g^*.

Leases

Table 18.1. Finding the NPC of the Purchase.
Table 18.2. Finding the PV of the Annuity Due.

Financial Investments

Table 19.1. The Future Value of 10 Annuity Payments of $90 Compounded at 2%.
Table 19.2. Finding the Number of Annuity Due Payments Required to Earn a Future Value of $2,000.
Table 19.3. Finding the Annuity Due Payment Required to Earn a Future Value of $2,000 in 10 Years.
Table 19.4. Tabled Values of elasticity E_FV,n = n / US₀(r,n).
Table 19.5. Periods required to double, triple, or quadruple the FV of an investment consisting of 5 equal payments assuming alternative reinvestment rates.
Table 19.6. Finding the After-tax IRR.

Yield Curves

Table 20.1. The connection between inverted yield curves and future recessions (1970-2009).

One Thing More…

Table 21.1. Properties of commodities and relational goods.
Table 21.2. Average minimum sell price for a used car with a market value of $3,000 reported by 600 survey respondents.

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Financial Management for Small Businesses: Financial Statements & Present Value Models Copyright © 2020 by Lindon J. Robison is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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