Analysis of Demo (Prepared by HowardSoft)...Page 3
CASH FLOW ANALYSIS
2000 2001 2002 2003 2004
Operating Income-
Adj. Gross Income 2,910 5,964 6,262 6,575 6,904
Operating Expenses-
Property Taxes 500 1,005 1,015 1,025 1,035
Scheduled Expenses 985 2,038 2,180 2,333 2,496
Variable Expenses 0 0 0 0 0
Total Operating Exp. 1,485 3,043 3,195 3,358 3,532
Net Operating Income 1,425 2,921 3,066 3,217 3,372
Debt Service-
Interest 3,595 7,153 7,099 7,040 6,976
Principal 267 572 625 684 748
Total Debt Service 3,862 7,724 7,724 7,724 7,724
Operating Cash Flow -2,437 -4,803 -4,658 -4,508 -4,352
Other Cash Flows-
New Loans Created 0 0 0 0 0
Capital Expenses 0 0 0 0 0
Net Cash Changes 0 0 0 0 0
Pre-tax Cash Flow -2,437 -4,803 -4,658 -4,508 -4,352
Income Tax Payments-
Tax on Net Income -1,085 -2,116 -2,016 -1,912 -1,802
Tax Credits(Depr+ITC) 682 1,364 1,364 1,364 1,364
Net Income Tax -1,767 -3,480 -3,380 -3,275 -3,166
After-Tax Cash Flow -670 -1,324 -1,278 -1,232 -1,187
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