Table T-11.2
Financial Leverage with sales of 38,000
Debt/Total Assets	0.66666	0.2	0.3	0.4	0.5	0.6	0.7	0.8
Debt	16,000	4,800	7,200	9,600	12,000	14,400	16,800	19,200
Equity	8,000	19,200	16,800	14,400	12,000	9,600	7,200	4,800
Total Assets	24,000	24,000	24,000	24,000	24,000	24,000	24,000	24,000
# shares	400	960	840	720	600	480	360	240
Sales	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000
COGS	19,000	19,000	19,000	19,000	19,000	19,000	19,000	19,000
Gross Profit	19,000	19,000	19,000	19,000	19,000	19,000	19,000	19,000
Fixed Expenses	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500
EBIT	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500
Interest	1280	384	576	768	960	1152	1344	1536
PBT	1,220	2,116	1,924	1,732	1,540	1,348	1,156	964
Tax	488	846	770	693	616	539	462	386
PAT	732	1,270	1,154	1,039	924	809	694	578
EPS	1.83	1.32	1.37	1.44	1.54	1.69	1.93	2.41
I%	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
ROE	0.09	0.07	0.07	0.07	0.08	0.08	0.1	0.12
ROA	.	0.05	0.05	0.04	0.04	0.03	0.03	0.02
DFL	.	1.18	1.3	1.44	1.62	1.85	2.16	2.59
FLI	.	1.4	1.4	1.75	2.00	2.67	3.33	6.00
WACC	.	0.07	0.06	0.06	0.06	0.06	0.06	0.06
Interest Coverage	1.95	6.51	4.34	3.26	2.6	2.17	1.86	1.63