Table T-11.3
Financial Leverage with sales of 36,000
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	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
COGS	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000
Gross Profit	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000
Fixed Expenses	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500
EBIT	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
Interest	1280	384	576	768	960	1152	1344	1536
PBT	220	1,116	924	732	540	348	156	-36
Tax	88	446	370	293	216	139	62	-14
PAT	132	670	554	439	324	209	94	-22
EPS	0.33	0.7	0.66	0.61	0.54	0.44	0.26	-0.09
I%	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
ROE	0.02	0.03	0.03	0.03	0.03	0.02	0.01	0
ROA	.	0.03	0.02	0.02	0.01	0.01	0	0
DFL	.	1.34	1.62	2.05	2.78	4.31	9.62	-41.67
FLI	.	1	1.5	1.5	3	2	-	-
WACC	.	0.03	0.04	0.04	0.04	0.04	0.04	0.04
Interest Coverage	1.17	3.91	2.6	1.95	1.56	1.3	1.12	0.98