Table T-BR.1
Big Rock Brewery Ltd.
Balance Sheets (in $ millions)
.	1998	1997
Assets	.	.
Cash	192	226
Receivables	1302	1278
Inventory	2271	1900
Other current assets	1195	872
Total Current Assets	4960	4276
Fixed Assets	26799	28446
Intangibles	0	0
Other	233	144
Total Assets	31992	32866
Liabilities	.	.
Notes payable	922	376
Current portion of LTD	0	252
Trade Payable	1050	1122
Tax Payable	.	.
Other Current Liabilites	0	0
Total Current Liabilities	1972	1750
Long Term Debt (LTD)	9000	11430
Postretirement benefits	.	.
Deferred Taxes	3289	2244
Other	0	0
Equity	17731	17442
Total	31992	32866
Source: Big Rock Ltd.1998 Annual Report

Table T-BR.2
Big Rock Brewery Ltd.
Income Statements (in $ millions)
.	1998	1997
Sales	15653	15125
Cost of Goods Sold	7676	7368
Gross Profit	7977	7757
Operating Expenses	6629	6372
Operating Profit	1348	1385
Interest	842	545
Other	0	0
Profit before tax	506	840
Tax	217	325
Profit after tax	289	515
EPS	.06	.12
Dividends	.	.
Stock price	38	45

Table T-BR.3
Big Rock Brewery Ltd.
Normalized Balance Sheets
.	1998	1997
Assets	.	.
Cash	1	1
Receivables	4	4
Inventory	7	6
Other current assets	4	3
Total Current Assets	16	13
Fixed Assets	84	87
Intangibles	0	0
Other	1	0
Total Assets	100	100
Liabilities	.	.
Notes payable	3	1
Current portion of LTD	0	1
Trade Payable	3	3
Tax Payable	0	0
Other Current Liabilites	0	0
Total Current Liabilities	6	5
Long Term Debt (LTD)	28	35
Postretirement benefits	0	0
Deferred Taxes	10	7
Other	0	0
Equity	55	53
Total	100	100
Source: Big Rock Ltd.1998 Annual Report

Table T-BR.4
Big Rock Brewery Ltd.
Normalized Income Statements
.	1998	1997
Sales	100	100
Cost of Goods Sold	49	49
Gross Profit	51	51
Operating Expenses	42	42
Operating Profit	9	9
Interest	5	4
Other	5	4
Profit before tax	3	6
Tax	1	2
Profit after tax	2	3
Source: Big Rock Ltd.1998 Annual Report

Table T-BR.5
Big Rock Brewery Ltd.
Ratios
.	1998	1997
Current ratio	2.52	2.44
Quick ratio	0.76	0.86
Working capital (in $ millions)	2988	2526
Receivables turnover	12.02	11.83
DSO (in days)	30	31
Inventory turnover	3.38	3.88
DSI (in days)	108	94
Payables turnover	7.31	6.57
DPO (in days)	50	56
Working capital turnover	5.24	5.99
TIE	1.6	2.54
Fixed assets/equity	1.51	1.63
Debt/equity	0.62	0.76
Pbt/equity	0.03	0.05
Pbt/total assets	0.02	0.03
Pat/equity	0.02	0.03
Pat/total assets	0.01	0.02
Sales/fixed assets	0.58	0.53
Sales/total assets	0.49	0.46
Payout	0	0
P/E	633	375
Source: Big Rock Ltd.1998 Annual Report

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