Table T-11.4
Financial Leverage of Company X with sales of 34,000
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	34,000	34,000	34,000	34,000	34,000	34,000	34,000	34,000
COGS	17,000	17,000	17,000	17,000	17,000	17,000	17,000	17,000
Gross Profit	17,000	17,000	17,000	17,000	17,000	17,000	17,000	17,000
Fixed Expenses	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500
EBIT	500	500	500	500	500	500	500	500
Interest	1280	384	576	768	960	1152	1344	1536
PBT	-780	116	-76	-268	-460	-652	-844	-1,036
Tax	-312	46	-30	-107	-184	-261	-338	-414
PAT	-468	70	-46	-161	-276	-391	-506	-622
EPS	-1.17	0.07	-0.05	-0.22	-0.46	-0.81	-1.41	-2.59
I%	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
ROE	-0.06	0	0	-0.01	-0.02	-0.04	-0.07	-0.13
ROA	.	0	0	-0.01	-0.01	-0.02	-0.02	-0.03
DFL	.	4.31	-6.58	-1.87	-1.09	-0.77	-0.59	-0.48
FLI	.	-	-	1	2	2	3.5	4.33
WACC	.	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Interest Coverage	0.39	1.3	0.87	0.65	0.52	0.43	0.37	0.33