Project Feasibility Study and Evaluation

Group Member

5331203030 Nattapong Somdee

5331203033 Tanthita Sukhopala

5331203064 Paranee Sakthanachanon

5331203072 Phornchai Teerasukprasarn

5331203099 Ratchanan Chawsathapornpong

5331203113 Vilialuk Radchakid

5331203123 Siwakorn Kerdsiri

5331203149 Ittipon Niraphai

Business Administration

School of Management

Mae Fah Luang University

Executive Summary

Product Box Limited Partnership is the limited partnership for sale the product of paper box especially post paper box. The main customer of our limited partnership is from the internet; sale in the internet, use e-commerce system and have website of the limited partnership for the customer can contact and buy the product. The competitor of our limited partnership is our company that also selling in the internet but sales promotion of us is can increase the market shared because we use the standard price but have many promotion and after sale service more than other company.

The objective of business plan is to show the information about our product, investment cost, and value of profit will be receive from investment; calculate the financial to show that this limited partnership can make the profit.

About the strategy that our limited partnership used in the business for achieve the goal is from standard marketing. Price of product is high cost so our company cannot decrease price more than other company but we used standard price; is from average price of the product in the market. In the part of place our company sale in the internet by used electronic commerce to facilitate for the customer they come from another province can order the product. Promotion of our company is 1.Free delivery in area 50 kilometer from the company and delivery to another province by used the way that customer determine 2.The celebration card will be send to the all customer in any festival and free T-shirt to all customer in New Year festival 3.Send brochure to the customer that order our product 4.have games to motivate the customer be the royalty.

Our limited partnership is make the profit 10% in each years to become the large market of post paper box in online shop. The sales volume of the company can increase by sale strategy, good image of advertising and good after sale service especially in any festival such as New Year, mother’s day and father’s day will be increase 5% more than another month from this sales volume it’s can make the profit in year 8 or more than.

From this all summary show the conclusion of our company about the standard information, the way to sale, promotion, and the profit that we calculate from the sales volume after increase the investment in sales promotion.

Content

PART I INTRODUCTION

Chapter 1 : Introduction

-Background and Significance of the Project 1

-Project Objective(s) 3

- Benefits of Project 3

-Activities/Time Frame 4

Chapter 2: Industry Profile (>10 Pages)

-Nature of Industry 5

-Situation of Industry 7

-Product/Service (in General) 17

PART II MARKETING

Chapter 3: Market Feasibility Study

- Market Analysis

-General Environment Analysis Political, Economy, Social and Environment, and Technology 39

- Competition Analysis (3C Analysis)

*Competitor Analysis 43

*Customer Analysis 45

*Competitive Analysis 47

-STP Analysis 48

-Marketing Mix Strategy 50

-Sales Forecast/Profit Estimation 63

-Marketing Expenses (Sales Incentive) 69

-Conclusion

PART III TECHNICAL ANALYSIS

Chapter 4: Investment Cost

-Cost of Investment

-Pre-Operating Cost 70

-Investment Cost 71

• Land • Buildings • Equipments • Tools • Etc

-Location 76

-Facility Layout 77

-Depreciation 79

Chapter 5: Production and Operations Analysis

-Product Characteristics (in Detail) 84

-Specification, Feathers, Dimension, Life Time, etc. 91

- Services Process 97

-Operating Cost 98

• Raw material Cost • Direct Labor Cost

-Logistics Management 100

-Facility Management 106

Chapter 6: Administration analysis

- Management Analysis

• Facility Cost (Electricity, Telephone, Fax, etc.) 107 • Salary 111

-Conclusion 115

PART IV FINANCIAL AND RISK ANALYSIS

Chapter 7: Financial Analysis

- Financial Assumption for Business.

• Profit/ Loss Statement 116 • Cash Flow 118 • Balance Sheet 120

Chapter 8: Risk Management

• Potential Risk 123

• Sale Risk 124 • Cost of Goods Sold Risk 143 • Administrative cost Risk 154 • Expense Risk 165

Chapter9: Summary

- Make a conclusion of Chapter 1- 8 176

Appendix 178

Reference 190

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Chapter 1:Introduction

1.1 BACKGROUND AND SINIFICANCE OF THE PROJECT

Nowadays, paper packaging business tends to grow up, due to global warming campaign expand around the world. Paper packaging is made from plants that it can biodegradable and recycle, so it is not adversely affect to the environment that makes it popular more than other packaging. In Thailand, market share of paper packaging is about 40 percent of consumption (From: Department of Foreign Trade, Ministry of Commerce). Paper packaging is the largest market share more than other packaging that includes plastic packaging, metal packaging and glass packaging. There are three types that are primary packaging, secondary packaging and tertiary packaging (For transportation). Corrugated box is in the type of tertiary packaging because it has strength, low price, various style and light weight. Often seen this packaging at warehouse, retail, wholesaler, transportation business and etc. Corrugated box has many sizes that depend on product. In Thailand, corrugated box business has many companies that have major companies such as Thai Union Paper Industry, Thai Pacific Containers, Siam carton Packaging and etc. And main customer is the group of manufacturing companies and transportation business.

In the future, International trade and Domestic trade will grow, due to ASEAN (The Association of South East Asian Nations) Economic Community or AEC will occur in 2015 that is free trade, free investment, free transportation and freedom of labor, there are 13 counties that are Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Vietnam and Thailand. So, competition of trading, investment and transportation will grow up that effect the many business in Thailand. This factor effects to the storage for transportation that will make paper packaging business tend to grow up, market share of this business will increase, and the consumption of corrugated box will increase. Main customers are manufacturing companies, transportation business and export-import business that customer want strength packaging, low cost, low weight, and various because they want more profit and . The best choice of they are corrugated box.

This business is interesting in the term of global warming that you can save the world by use raw material from plant (it can biodegradable and recycle), largest market share of packaging business that your company can make more profit because more customers use corrugated box, and ASEAN (The Association of South East Asian Nations) Economic Community or AEC that make competition of trading, investment and transportation will grow up, it is good for this business to make more profit, increase market share of paper packaging business. From these factors can make the company to major company about corrugated box in Thailand.

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In Thailand, e-commerce tend to do business on the internet by circulation increase

every years that include Business to Business (B2B), Business to Customer (B2C) and

Business to Government (B2G). The value of e-commerce, Business to Business has 79,726

million bath in 2550 to 217,458 million bath in 2553, Business to Customer has 47,501

million bath in 2550 to 67,783 million bath in 2553, and Business to Government has

177,932 million bath in 2550 to 344,370 million bath in 2553 (National Statistical Office,

2553). It shows the increase rate of e-commerce that has high rate, it make amount of new

enterprises increase every years. In Business to Customer, there are a lot of online shops to

sell their products on internet that they will deliver the product by transportation companies

or themselves, normally the online shops choose to use transportation companies that the big

transportation companies in Thailand is Thailand Post, this company use the paper boxes to

packing the product for transportation. So, paper boxes business will increase from the

amount of online shops are growing up.

Communication:

By Car or Truck:

You can journey by own car and bus that use Sukhumvit Road from Bankkok to Amphur- meuang, Bangbo, Prapadang and bang-sao-tong and use Suksawat Road for Amphur-Pra Sa-Mut Jay-Dee.

By Ship:

It has two ways from Bangkok to Amphur-Prapadang are harbor at Khlong Toei and saa-tu bpra-dit. In Samut Prakan province can across the Chao Phraya river by 2 choice. 1. Amphur meuang – Amphur Pra Sa-Mut Jay-Dee (For individuals), and 2. Inside Amphur Prapadang ( Individuals and Vehicles).

By Air:

Samut Prakan Province has Suvarnabhumi Airport which is International and domestic airport.

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1.2 Project Feasibility /Objective

The report of Product Box Company (PBC) is prepare for show the information about the “box”, the target, who can receive the benefit from box or from company, form of marketing, the way to promote, operation detail, how the company operate and calculate financial to make sure that the company can make the profit,. All of report is for make sure that the product and operation system in the company will be success the goal.

Project objective :

1. To make clear information for do the business in further.

2. To answer the question and solve the problem that can be a mistake of operation.

3. To run everything in operation of business smooth.

The Effects that expect from this project :

1. Can get the conclusion and information in completely and clearly.

2. Will discover the problem form research and get the solution to solve problem

3. Operation everything follows the plan by not defects.

Benefits of Project :

1. Understand the current market trend of the paper box industries in the currency.

2. Understand the customer behavior of paper box business.

2. Understand the operation and technical process of paper box business.

3. Use the strategies that appropriate with the business situation.

4. Know the risk and possibility of the paper box business. 5. Be able to calculate the financial of business, so we can find the way to get maximize profits. Then we know the feasibility of paper box business.

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1.3 Activities/Time Frame

Activities :

Group brainstorm for the topic. Do the project research and project planning : To study general information of the

Paper Box company. Marketing research : To study of the marketing mix , Analysis the environment

(External and internal), research the customers demand, do the sale forecast/ profit estimation and the current situation about Paper Box company.

Research the technical process : To analysis the cost of investment, operation and operation of the product from Paper Box Company.

Research financial of the business feasibility : To analysis the financial of operations, profit and loss statement, balance sheet and cash flow of the Paper Box Company. Then evaluation the financial of return on investment.

Analysis the risk of box company : Find the problem that have risk from management or operations, then analysis of that risk.

To evaluation the project : Evaluate the business feasibility of the Paper Box company.

Do the summary project feasibility of the Box Company.

Time Frame of the study

Activities Month Period November December January February

W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4 W1 W2 W3 W4

1.Group brainstorm for the topic.

2weeks

2. Do the project research/project planning.

2weeks

3. Marketing research.

3weeks

4.Research the technical process.

2weeks

5. Research financial of the business feasibility.

3weeks

6. Analysis the risk of box company.

2weeks

7. To evaluation the project.

1week

8. Do the summary project feasibility of box company.

2weeks

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Chapter 2:Industry Profiles

2.1 Nature of Industry

History of paper industry

According to ancient writings paper was first made by a eunuch in the court of the Chinese emperor Ho Ti. He is thought to have used the bark from a mulberry tree. The earliest known paper that still exists was made from rags in about A.D. 150. China was the only area where paper was made until the technique surfaced in Japan and then in Central Asia. The Egyptians did not make paper until A.D. 900. Around 1150 a papermaking mill was built in Spain and the art of papermaking spread throughout Europe. The English built their first mill in 1495; it was 200 years after this that paper was first manufactured in America.

Paper industry with trading business

Trading business or Merchandising firm refers to company that trade on both wholesaler and retailer but is not the manufacturer. And the paper industry that many company interest is product’s box. The product box has many aspect of business that effect in shipping and convenience. The trading business with product’s box involving in the product from the manufacturer sends to customers with care in product and guarantee for safety of product and create long term relationship with customers. According to ‘‘Jacobs Trading Company has developed long-term, large-volume relationships with national and international shipping channels. We can offer very competitive, discounted shipping rates through our contracted carriers’’

Established of trading business in Thailand

Trading business in Thailand established with over 30 years. In those days many company that trading business style use in theory of manufacturer to reduce cost of product by the manufacturer. Refer to SCG trading company, they strive not only to produce high-quality products to meet the demands of our customers, but also to offer complete handling of delivery services that complement our products with over 30 years experience in international trading, they focus on innovative and creating value added for their business partners, they work to understand your business needs and customize products and services to meet your business requirement.

Source: http://www.encyclopedia.com/doc/1G2-3406400700.html

http://www.jacobstrading.com/policies.html

http://www.scg-trading.com

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Trading business in Nowadays

Nowadays the number of customer that concern in paper industry is increased from a quarter ago. And then effect in demand of customer who wants to use service is not enough. A number of new company in industrial estates also increasing and the new companies are need in packaging and transportation, they found in quality of fast shipping and the company who care in their product.

Source: http://www.photoshopdaily.co.uk/wp-content/uploads/2009/04/industry-section.jpg

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2.2 Situation of Industry

The overall situation of the global packaging industry

Around the world have consumption of 253.5 million tones of packaging a total consideration of U.S. $ 402.5 billion in 2007, and are expected to increase to 284.9 million tons, or the 470.8 billion dollars in 2012. The Asia Pacific region is growing up with 32.4 percent in the region, America and then Europe with 34.4 percent and 33.2 percent.

Paper packaging is packaging that is most commonly used by consumers in 2007, with the packaging around the world to 130.1 million tons, accounted for 51.3 percent of total market value. The plastic containers are consumed. It ranked third behind metal containers, with 14.6 percent of the total market value.

Europe Asia-Pacific

America

Paper

Plastic Other

Glass Metal

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Also if considering the global market share in the packaging industry in overall then the large manufacturer have a market share of up to 6 percent of the total production. Manufacturer is producers in North America and Australia, but has Expands investment in all over the world.

The packaging manufacturer have distribution characteristics of the production is quite high, because the demand for packaging variety of purposes. The high demand is the necessarily produce enough to meet the requirements of the market that make a lot of small producers in the market. In addition, the packaging manufacturer often situated nears the consumption of packaging. The demands for each product are different packaging and make the need to be produced to meet market needs.

Other

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Packaging industry overview in Thailand

Thailand's packaging industry has many similarities to other countries are the focus on improve the quality along with the functional design of the product and make the difference. Each year Thailand's packaging industry able to produce packaging total value about 25,000 million dollars. Most of all focus on production to respond demand in the country. The total package is sent out each year do not much. The growth of the packaging industry usually bound to the growth of exports and international trade, because wants to the packaging of goods for sale or transportation.

Packaging Industry in Thailand can be classified to 4 categories

Paper packaging industry. Manufacturing accounted for 40 percent. It can be subdivided is corrugated box, cardboard box, multi-layer paper bag, single layer paper bag. Raw material used different based on the type of product, such as corrugated boxes, single layer paper bag, multi-layer paper bag made of Kraft paper. The cardboard box made of sheet of paper. Paper packaging is widely used and high growth; because it can be recycled easily. There are a wide variety of sizes to meet the requirements of the user, which is divided into 2 types, cardboard boxes and paper bags. The boxes in the transportation and consumption. Boxes and corrugated cardboard boxes. Corrugated cardboard is used to protect product damage, while the cardboard popular for packing. The paper is divided in several layers of paper bags. And the single paper bag in during the years ago. The global campaign increase environmental protection and working Paper for the decay. It can be recycled. The relatively high value is growth commonly used to produce paper. Paper packaging include Kraft paper and paperboard depends on the appropriateness of its use. Although the paper can be more widely used. The paper can be resumed, but the downside is that it has a paper packaging can cut, fold and bend easily.

Metal

Plastic

Paper

Glass

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Competition in the packaging industry, Thailand

Packaging play a role important industry consumer goods, and food industries and beverages, as well as the growth of the national economy and international trade, because of the increase in the volume of international trade refers to the packaging requirements for packaging to distribution, also suitable for transport and packaging industry have ties with the industry, and industry support is great, such as pulp and paper industry, printing industry important to support the paper packaging industry. Plastic and polymer industry molding industry and chemical industry. The major industries that support the plastic packaging industry and steel industry has importance support in the metal packaging industry. Which if considered the industry is to be found in Thailand is combination of the industrial estate. There are many organizations and support agencies.

The domestic factors of production

Factor in the Packaging Industry for Thailand. The volume is quite adequate, especially in the packaging industry paper and packaging industry. Although industrial packaging glass and metal packaging industry will have to rely on imports of raw materials from some foreign countries do not have sufficient capability or low-quality raw materials.

If considering in technology and labor then find that. Thailand has adequate technology for the production of all kinds of packaging. Although there are enough workers higher wages compared to neighboring countries.

Highlights of the packaging industry today are focused on modern design the image for the product, and a variety of useful functions. They often have to hire a designer to bring in own packaging. The key feature is the ability of the packaging industry it is the model focuses on developing innovative products that are designed and built to increase.

The domestic demand

Packaging production in Thailand to focus on domestic consumption as the mainland if considered. Domestic market size compared to the production capacity of the packaging industry and the packaging market in Thailand is relatively large size. There are a variety of products. Despite not equal to variety of international markets.

Needs of the domestic market have similar market in the region in particular, the basic package, such as paper boxes, paper cartons, cans or glass bottles. This is an opportunity for local manufacturers to produce packaging low cost per unit.

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Supporting and related industry

Supporting and related the industry in the packaging industry in Thailand. Available has a good level, such as mold and printing industry, Pulp and paper industry, Plastics industry. The materials are usually a combination of the action in the industry and settlement. There is a settlement was established industrial packaging to facilitate the production of packaging, and to promote Thailand's packaging industry.

In addition, the packaging manufacturer in Thailand is also gathered in the consortium group, such as the packaging of Thailand, Metal Packaging Association. Corrugated and Carton Manufacturers' Association of Thailand. Which contributes was greatly to strengthen the competitiveness in the exchange of information, and strengthen the cooperation in various fields.

Strategy, structure and competitive conditions

Manufacturer in the packaging industry in Thailand has a large number of mostly small and medium manufacturers, but competitive situation for the packaging industry in Thailand not very high, because most manufacturers produce the same customers or have their own market, because of packaging needs often a specific product.

The competitive conditions that affect the productivity boost exports of packaging .It is not that there are relatively little. Since the production is exported mainly because to packaging products for new markets in different countries. The nature of competition in the packaging industry is often in the form of a competition to create a new package to the market rather than produce or sell products in low price.

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Overview of Industry situation

“Corrugated box "has a long history. Adoption and continued growth. It is not going

to be unpopular. Same as other products that may be times when technology changes.

Corrugated Packaging is currently the most popular for printing and packaging products,

because of corrugated paper packaging. There are many features, such as used in the

packaging of all kinds of consumer goods, product goods or various industries. Corrugated

packaging provides facilitate the storage of goods and transportation. Corrugated packaging

is designed to be strong and have the different shapes based on the packaging.

The paper industry, cardboard and corrugated paper for producing paper packing box.

Increase the production of the food industry, Agriculture, electronics, and service that need

for packaging. In 2555 the production of paper. Considering the industrial manufacturing

production Index. Production increased compared to the previous quarter. Corrugated paper

increased 22.2 percent. Coincides with an increase in the rate of production capacity, which

increases in the domestic market. Corrugated paper production also grew in accordance with

increase in the food industry, Electric appliance, Commodities, Cosmetic, and medicine is

also used cardboard boxes packed.

Trends in the paper industry in the third quarter of year 2555. Expected to increase the

production, export and import. The main industrial use the production of paper for cardboard

box, and packaging, such as Electrical appliances, Electronics, Automotive parts, and Food

products. External factors, including market trends, key partners in Thailand and in Asia, as

Hong Kong, China continues to grow in the exportation paper to these countries is higher

than other countries.

Reference: http://www.ryt9.com/s/oie/1477847

Export Value of cardboard and paper

The most 5 countries that do exporting.

- South Korea

- Viet Nam

- Indonesia

- Malaysia

- Australia

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The combination of national, Asean10 country with Thailand, Myanmar, Laos, Vietnam, Malaysia, Singapore, Indonesia, Philippines, Singapore, and Brunei to be provide sharing the economic benefits or called to as "AEC" or the Asean Economics Community. Currently time left only two years. Thailand will have an effect on both the positive and the negative.

The effect of entrepreneurs

• Positive - Raw material costs and production standards. - Lower cost of imported raw materials, the impact of import duties on raw material is the paper.

- Cost of the package. the paper reduction of tax which the raw Material is the paper Food Grade and plastics Food Grade, which currently of this Thailand cannot produce on its own, but Indonesia can produce and can be imported into the country even more.

- Indonesia is the largest manufacturer of paper products in ASEAN. In the future, the large the paper manufacturers of the world will be China and Indonesia. If an extension of the ASEAN +3 as well In Thailand imports of raw materials for lower costs.

- Production of paper from Thailand's enough demand in the country, but entrepreneurs necessary to Import the paper, because selling price in the country is higher than export prices. - Standard paper packaging of Thailand will meet the standards the majority of the customers in global standard.

• Negative - Domestic workers and professional of labor mobility.

- Lack of workers in the industry, both in Thailand and foreign workers. - There are established Thai Print Academy to create a new workforce into the industry, who are interested to study abroad in Thailand. The future may be developed as a model to International.

- 300 baht minimum wage policy affects the industry. There is a lack of workers in the Packaging. Business owners need to think of a solution. Concluded that will take more machines to replace labor.

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Nowadays, the company that produce the corrugated box are increased, and the paper

box factory in Thailand with more than 80 factories that produced the paper and cardboard

boxes. Entire company large, medium and small for use in the transportation and packaging.

Making competition in the business paper packaging is increased. Furthermore every

business should have business relevance with nearly all of boxes. Whether is large business,

medium or small. Also need to collect the paper documents, the materials, packaging,

commodities, cosmetics, medicines, food or transportation.

Electronic commerce

Electronic commerce in Thailand has the proportion of small businesses. (Maximum

5 people) are 68.5 percent and 73.3 percent B2C type of business, if classified by found that

industry in the fashion industry. Costumes and accessory accounted for 32.3 percent of all

businesses. A minor are group of computer industry, Electronic devices and the Internet. 17.7

percent.

Trends in the online world trading of Thailand nowadays, considered to be very

popular. The dominant factor caused number of stores, and the business that entered to online

have increased, which caused from "To start trading online can be made easy". The payment

system and logistics system is better and easier than ever before. Make the entrepreneur can

start and easy to trade online, and the one factor that will make the world of online trading in

the country has increased, because due to economic slowdown makes many businesses start

looking at a new way to find new customers, and increase the revenue for themselves. Many

businesses have turned to online trading that can help to increase the sales in across the

country and around the world more effectively.

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In the last year (2553), business for E-Commerce has sold about 608,587 million Baht. It

is the B2B sales of about 251,699 million (41.4 percent), the B2C sales about 84,593 million

(13.9 percent), and the B2G sales about 272,295 million (44.7 percent).

When consider the value of sold by classified for the industry that shows in the last

year (2553), the sale based on the Automotive Industry, and products are about 73,131

million baht (21.5 percent). The second is a group of computers, Electronic devices, and the

Internet, about 66,297 million baht (19.4 percent), and travel, hotel, resort about 60,023

million baht (17.6 percent).

Types of entrepreneurs

Value of electronic commerce Years of survey

2551 2552 2553 2554 Value of total

sale 427,460 527,538 629,611 608,587 (100.0) (100.0) (100.0) (100.0)

B2B 127,325 190,751 217,458 251,699

(29.8) (36.2) (34.5) (41.4)

B2C 63,425 45,951 67,783 84,593 (14.8) (8.7) (10.8) (13.9)

B2G 236,710 290,836 344,370 272,295

(55.4) (55.1) (54.7) (44.7)

From the survey 2,728 2,087 3,670 4,611 (0.6) (0.4) (0.6) (0.7)

From e-auction 233,892 288,749 340,700 267,684

(54.8) (54.7) (54.1) (44.0)

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For the methods, to used in the E-Commerce business for take care customers

primarily use email or submit the questions for customer on the website or Facebook, which

is about 80.4 percent. Second officials take the call (Call Center), about 62.6 percent, and use

the Live Chat to chat with customers such as MSN, Skype, and G-talk etc. 30.5 percent.

Sources: http://service.nso.go.th/nso/nsopublish/citizen/news/news_e-comm.jsp

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2.3 Product

Paper box

China is the first country that create the paper box for packing the tea leaf. In 1839 United State use cardboard box for packing decorations, such as jewelry and gems. Nowadays people develop cardboard for use with another material, such as plastic, metal and can coat the candle can be waterproof. Moreover the paper box can use for food and drink, Then it's make the paper boxes are very popular in nowadays.

Types of paper box

1. Die-cut box A box containing various forms depending on design to match with applications and focus on beauty of box. It can be use corrugated paper, cardboard or art paper by taking into machine, it will be according to template that you want. Then get out a sheet of box that has been cut to desired shape and be assembled into a box shape. Die-cut box is popular used as packaging products that needs beautiful, also called "Inner Box" to increase the value of product or to show product. It's easy to use products category containing such as electronic, components, electronic equipment, toys, fresh fruit and etc.

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2. Cardboard box A box that has light weight, graphic design or logo can be printed for easy decorating products. Retail packaging is the most popular can be made from many kinds of paper such as paper white-gray, coated paper, card paper, cardboard paper and etc. It can also be coated with other materials such as varnish, plastic to the properties improvement.

• Form of a cardboard box divided into 2 types is folding box and set-up box: 2.1 Fold cardboard box Cardboard boxes can be made and shipped as flat blanks at the packing plant may lead to product or product packing glued and sometimes it may stick to edge of the box already for close lid. Cartons are now both tube and tray. 2.2 Set-up box Set-up box is the box for already to use. For example, matches box or shoe box with cover. Manufacture of set-up box slower production more than cardboard or folding box. It makes higher price per unit both the production and transportation. The advantage of this box is can use for long time and if you have design that will enhance the value of product, it can attract attention of buyers.

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Cardboard boxes are used 2 types.

1. Non coated white paper box This paper is similar with coated paper but coarse-grained than irregular white paper. It does cheaper be printed with conventional systems like shoes boxes, moon cake boxes, etc. 2. White coated paper

This paper is normally used in the packaging of consumer products because it can print by offset system insert a different color and valuable items. Then contained within the box and it is sold by general stores. It's known as cardboard gray-white in packaging of food products used in the paper because easy to buy.

Selection of cardboard box must be considered in relation to use properties. Such as moisture, bursting strength, ability to gain weight around 2-3 pounds. Depending on size and thickness of the paper of surface roughness, thickness, smooth of paper, white color. The benefit is bright color can make colorful from printing more than other colors. Resistant to bending can be folded into a flat sheet has space to store and transport. Select the desired torque is easy to cut on puncher cheaper, materials and manufacturing processes to design to choose size of paper and box. It is depend on type of product and market demand. The alignment process should be durable and easy to taken or easy to carry on it when set up as a group.

Types of paper

Plain paper is to print general document use plain paper, a paper with thickness of 80 -120 grams. Do not have special chemical coating for printing color graphics quality. But somehow, 300dpi is the best for print the paper resolution. So if higher resolution ink penetrates, the paper will not dry. In practice, it’s possible that some will be plain 600x600 resolution prints if the paper is thicker than 100 grams was achieved.

Fine printing paper with a thickness of more than 160 grams, it’s good source for inkjet printing because prevent absorption of ink. However, the price of paper was expensive as well as paper designed for inkjet printers. It is allows user to turn to instead used of inkjet paper, which have both same brand of printer and paper produced by manufacturer paper free.

Inkjet paper is specially coated paper both paper printed on one side and print double-sided. Nature of paper is no different from normal paper, thickness was not differ but the different is special coating to qualify for ink to be printed on paper. In general, inkjet paper to print a report with a chart that beautiful at 600x600 and level premium or deluxe inkjet paper is capable of printing up to 1440.

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Paper card is paper coated with some material to a smooth surface. The surface characteristics both 2 sides, but it is not much thicker than paper with printing on both 2 sides to printing images with high resolution. The images are crisp and beautiful suitable for the production of art or box desired thickness.

2 paper cards, art card 1 page is generally available in 2 sizes.

• 25 inches x 36 inches • 31 inches x 43 inches

Paper powder box characteristics 2nd surface has two sides, one side is white with gray. Paper powder box, white front and white back gram 230 – 500 grams used for packaging all kinds of products such as OTOP products, gift box, candy box, posters and etc.

Aluminum coated paper coated with white (kaolin) or special materials, then pass polished chrome roller with two balls to make surface smooth. The plastic mesh is coated with metalized film so that it is used to make a shadow box food that have high price.

PE coated paper coated with white (kaolin) or special materials, then pass polished chrome roller with two balls to make surface smooth. PE film surface with opposite to water or fat have insert features a beautiful color, used for packaging frozen foods or snack foods such as cookies etc.

3 Corrugated boxes

Packaging paper box with a very strong feature used in the transportation of goods. It’s also help to protect your goods safe, can be designed according to need and size. We will make use of corrugated boxes 2, 3, and 5 layers of corrugated cardboard can be make to Die-cut boxes and can make corrugated boxes offset printing, so that box is strong and has print beautiful.

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The structure consists of corrugated boxes

1) Liner board is paper attached to wavy corrugated paper sheet, corrugated roofing cover, which we will use Kraft paper to be flat sheet.

Kraft paper

The most of Kraft paper is coarse skin. It has brown color of wood that make pulp and paper production. But some kind it is white because used to bleach pulp or may have other colors depending on manufacturer and market demand.

Characteristics of Kraft paper

Kraft paper are sticky and stronger more than normal paper. The pressure and prevent shock due to stab through from the outside as well, it also has ability to resist water. Oil and Kraft paper has a smooth consistency can be glued well that suitable for printing. The outstanding features of the various types of Kraft paper which can be processed into packaging container properly both of production. There are packaging and transport can also recycled for use as renewable raw materials in the manufacture of paper. It help to reduce pollution to the environment, Kraft paper packaging material is widely used in industry.

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Kraft paper, corrugated paper sheets are used to make a variety of colors and quality of implementation is different. The main grade of paper used. Is as follows.

KS - With its white surface and high smoothness, KS is ideal to produce both strong and high print-quality packaging, enhancing the value and aesthetic of the products Application: Widely used as packaging for electrical appliances, pharmaceutical products, medical equipment, exported frozen foods, dairy products, beverages and fresh produce. Standard Basis Weight: 170 gem

KA - Its golden yellow surface, superior strength, and consistency of color shade has made KA the most preferred choice. Certified by Thai Industrial Standard Institute (TIS. 170-2529), KA is popular for packaging of domestic and exported products. Application: Widely used for various types of packaging such as electrical appliances, electronic components, electronic circuits, exported frozen foods, canned foods, engine parts, and textile, etc

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KI - Is an environmental friendly liner board. Its surface is of light/bright-shade of pulp. The light tone of KI helps achieve good print contrast for dark-color image on the packaging. With standard strength property, KI is suitable to make packaging for domestic goods. Application: Widely used for all kinds of products such as consumer goods (beverages, canned foods, and snacks), furniture, leather, etc.

KL - Is designed as a liner board for the inside surface of the box. It is made from recycled paper, without any additional coloring. Unlike other liner boards, which are also used for outer surface and therefore smoothness and cleanliness is of concern, KL features mainly its premium stacking strength. Application: Suitable for several usages, such as electrical appliances, consumer goods, canned foods, beverages, etc. especially for packaging requiring high stacking strength of box and the appearance of inside surface is not highly concerned

KK - is a brown liner board made mainly from recycled paper. Its color shade also resembles that of KP. KT is also one of major products, featuring primarily stacking strength of box. Application: Suitable for packaging of consumer goods requiring ordinary strength. Standard Basis Weight: 125, 150 gsm.

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Paper Grade Basic Weight (g/m^2+/-

4%) Force the Ring Crush

(N/152.4 mm) Min. Pressure resistance

(KPa) Min. Humidity Levels

Moisture (%)

KA125 125 160-170 390-400 6-9

KA150 150 210-220 460-490 6-9

KA185 185 280-300 520-560 6-9

KA230 230 380-410 640-680 6-9

KI125 125 125-155 300-350 6-9

KI150 150 170-200 370-440 6-9

KI185 185 230-260 460-540 6-9

KP175 175 210 410 6-9

KP275 275 345 600 6-9

KT125 125 140 275 6-9

KT150 150 190 350 6-9

TA125 125 150-155 275-320 6-9

TA150 150 200-215 350-375 6-9

Source : http://www.packingsiam.com/index.php?lay=show&ac=article&Id=539312388&Ntype=7

Kraft Liner Board Specification

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2.) Corrugated Medium is a paper that looks like a wave between the papers.

Kinds of corrugated sheets.

1. Single Face

The paper includes one flat sheet, one sheet adjacent to corrugated medium and used to shockproof product or dashed box offset standard hoop: B, C and E.

2. Single Face

The paper consists two flat sheets corrugated roofing one sheet by adjacent corrugated medium. It is in middle between both two sheets of plain paper (Liner Board). Used for the product that has medium weight or not strong standard: B, C, and E.

3. Double Wall

The paper consist three flat sheets dovetail with corrugated two sheets by the corrugated type B that stick outside the box for print and corrugated type C to protect from the crush. Double wall is popular in the product that needs to protect or have high weight.

4. Triple Wall

The paper consist the 4 flat sheets and corrugated roofing 3 sheets. Used in the industry that needs to gain heavy weight such as machine in the industry.

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Process of Manufacture

The processes of Manufacture Corrugated box distribute in two ways are Eieblwd box and Box gluing.

1.1 Eieblwd box

Almost be the big box to carry the high weight product or long box but it’s hardly to coat glue. So the process of manufacture will use printer slotted and stamp at printer. The process of manufacture box have method to manufacture Eieblwd box by take it out of machine that make trace line at cover and put it in feed unit of machine pages per sheet in to printing section for printing. Printer have color box and primary color are separated out. Next cut tongue of glue at box in side one and erode groove for distribute in another side, so it will be unfold. Then make forming by Eieblwd to link box at side one and four together by use semi-automatic sewing machine or automatic sewing machine.

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1.2 Box gluing

Box gluing is the box fast to Manufacture and use in common product. The process of manufacture will use Flexo Folder Gluer that are machine include with printer, grooving machine, printer slotted, folding, glue together in one machine in produce box gluing. Corrugated sheets will print overlay fold line and groove as same as the process of printer slotted. After that machine and folder gluer will set glue and lap splice join side 1 with 4 together to become ready-made box. It will pass the machine and tie a rope follow volume of box.

Corrugated box divided into 5 types

1. RSC box (Regular Slotted Container)

Popular to use more another type because the Manufacture use only one paper to less material and have cover open-close in equal by cover outside. It will link at center from length of cover. So it’s easy to transport product because the box is flatly and can open immediately. Then it’s easy to contain and use. RSC box can edit to transport in product almost all kinds of product or use to improve strength to protect the product.

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2. FOL (Full Overlap Slotted Container or Full Overlap Container)

A cover has same size length and width to make the box stick together. So it will increase strength of the box. When it is overlapping, it will adapted to carry heavy product and protect indelicate before it has effect to product.

3. HSC box (Half Slotted Container with Cover)

Have two parts cover and box. It is open-close in same side and do not have cover in the box. But box will close by another box cover (Box cover box) by cover will higher than box a little bit and same design with the box or have a same style with half-slotted style, half-slotted style usually use in industry, battery, refrigerator, washer, etc.

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4. PTHS Box (Half Slotted Box with Half Slotted Partial Cover)

Two parts of box include with box, cover, its slotted style, suffer to bulging and bulking. When box get a heavy, sometime producer Manufacture product over-packed but this box can carry it.

5. FPF Box (Five Panel Folder)

It look like RSC Box but shorter than, its can tape around the box, so it make box stronger by cover, it fit to transport piece ex. Rattan, umbrella ,roller or electronic, FPF have 2 type . There are :

- Full cover

2 Covers can open-close lateral use staples

- Standard Cover Cover will close the center use tape to close and outside use staples to close

6. Partitions and Pads

Partitions inside the box use to partition and reduced pressure between material, beside will reduce the space inside the box. Pad made from corrugated sheets and it can make baffles or pad in layer to protect product when they transport. For example Glassware, bottom, vase etc, when compose the box complete, Core will make the box stronger and hold the shape.

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Corrugated Box in Thailand Post

1. Ready – Made Carton

Ready – Made Carton made from corrugated paper, there are high quality and many sizes for customer needs that they want to send product by strong box.

Ready – Made Carton has six sizes for customer to choose by size of the item that need to packing.

- Ready – Made Carton A size : 14 x 20 x 6 cm.

- Ready – Made Carton B size : 17 x 25 x 9 cm.

- Ready – Made Carton C size : 20 x 30 x 11 cm.

- Ready – Made Carton D size : 22 x 35 x 14 cm.

- Ready – Made Carton E size : 24 x 40 x 17 cm.

- Ready – Made Carton F size : 30 x 45 x 20 cm.

Source : http://www.thailandpost.com

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2. Normal Carton

Normal Carton has many sizes to choose made for conveniences of customers that need brown box are strong and big size. Normal Carton can accommodate item that multiple size. The box made from standard corrugated paper for protect item in the packet between transportation.

Normal Carton has six sizes for customer to choose by size of the item that need to packing.

- Normal Carton No.1 size : 30 x 100 x 30 cm

- Normal Carton No.2 size : 31 x 36 x 13 cm.

- Normal Carton No.3 size : 31 x 36 x 26 cm.

- Normal Carton No.4 size : 55 x 100 x 55 cm.

- Normal Carton No.5 size : 40 x 45 x 35 cm.

- Normal Carton No.6 size : 45 x 55 x 40 cm.

Source : http://www.thailandpost.com

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Important property of corrugated box:

1. Combined board basis weight mean the total weight of corrugated as grams per corrugated one square meter.

2. Bursting strength mean the ability of corrugated for resist pressure that test with a higher rate, the corrugated will tear in KPa or Kilogram per square centimeter, so resistance of corrugated can estimate from total of pressure that make the paper tear inside and outside of corrugated.

3. Flat crush resistance mean the ability of corrugated that can resist pressure by horizontal to lose shape in KPa or Kilogram per square centimeter. The result will relate with thickness of corrugated and cushioning ability of corrugated.

4. Edge crush resistance mean the ability of corrugated that can resist pressure by vertical to subside, in Newton per meter. This test is very important because this test report about hardness of corrugated that relate with hardness for sequence overlap of box.

5. Puncture resistance mean the ability of corrugated that can resist from puncture in unit joule. This ability relate with toughness for resist tearing of corrugated because it is mechanical shock from the external.

6. Box compression strength Mean the ability of box for resistance pressure at the top of box with constant speed until the box subside or lose shape unit in newton (N) or Kgf. This ability is relate with the strength of box for overlay but it not tell about weight in the real overlay because in practice it’s necessary to multiply for safety factor such as moisture in the air, times, type of overlay on top and system of move.

7. Drop resistance mean the ability of box for resistance with ground when falling from a height. This test for testing the strength of box for protect the product when they have leave out in the transportation part and in this part the transporter will report the amount of damage.

8. Vibration resistance mean the ability of box that can protect the product inside from damage depend on vehicles in transportation part and another factors. The objective of this test is for estimate the strength of package, instrumentality for contain, suitable cushioning material, unit the closed container that can protect the damage from vibration.

9. Incline impact resistance mean the ability of package (box) for resistance with baffles when falling to the ground that angle of ten degrees and horizontal. This test have objective for test that the package can protect the product from impingement that can be in transportation part.

10. Hexagonal revolving drum test The tools that use to test characteristic is hexagon box that can evolve, take the product get inside the hexagon box associate with baffles, the baffles make the product crush with the spot. This test is for estimate the damage that may potential with product and check the quality of manufacturer’s joint.

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Paper and packaging paper testing.

- Test for basic weight

To determine criterion for sale because the basic weight of paper will directly related to the strength of the paper. Lead the paper and cut to appropriate size such as 10 square centimeters and weighed carefully. Show number of basic weight is the weight per unit area such as grams per square meter or pound per ream (U.S Ream). Were 24 , 36 inch size paper 500 sheets.

- Test for thickness

Prefer to check the paper quality of the materials are soft and almost all types of containers. The method is easy and fast to make it. Used to measure the resolution and precision such as Dial Type micrometer. Unit of thickness commonly to use as millimeters, micron or inches. And unit for specific materials such as point for the paper. (1 point = 1/100 inches), (1 mil = 25 micron) and gauge (100 gauge = 1 mil) for plastic film or a lot of soft materials.

- Test for tear resistance

Test is about the average value is used to tear the paper has notch and has unit to use gram – force or meter, new ton. (gf.m or N.m). For this test are important to control the quality of paper, paper bags and cardboard boxes.

- Test for bursting strength

Test is about ability of paper or corrugated sheets resist the pressure are increase in constant rate until samples are lacerate. It can measure in kPaor kilograms per square centimeter (kg/cm). Use for test the quality of paper. Cardboard or corrugated sheets used to form a container such as a bucket.

- Test for tensile strength

The elongation sample sheet is held among the two forceps by pinch one and move to retrieve samples are lacerate. Record force that use and value of paper while holding it. Resistance reports the tensile force per cross-sectional area of the sample or the width of the sample. The report is based on a percentage.

- Test for moisture

Test by use method baked the sample sheet that known weight in the oven at 105 c for at least two hours. It make cool and lead to find new weight the difference of the water – weight can measure moisture content in the sample. All reported values are percentages. For this test are important to cardboard and corrugated sheets used to form a container.

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- Test for water absorption

It is test for ability of paper to absorb the water within a time period. The paper has a weight of water absorbed by the area in contact with water. This test is important to print (ink absorption) glue to withstand environmental conditions such as rain.

- Test for resistance to fat

It is test for ability of paper for resistance absorption of fat by record the value of the time that appearing on the fat side opposite the side in contact with the fat.

Source: http://www.qualitycartons.com/paper_qcc.html

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2.4 Vision and Mission

Vision

"To gain more market share of online paper box business in Thailand." Mission Our company can make profit from transport the product to customer and it can increase profit in every year by liaise, include with good performance of transportation and provide the promotion to motivate the customer, for make customer trust our company beside customer can feel our service is faster and punctually cause to respond the demand and increase confident and trust of customer. Our company will operate company with honest and obvious, so our company will always develop for retain benchmark of transportation and quality of service.

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2.5 Strategy

2.5.1 Corporate Level The PB limited partnership is sell and transport the product to customer in online market that company will establish in Samutprakarn. In the PB limited partnership will have characteristic about growth strategy, many companies use this strategy to expansion increase in market share and find new group of customer. The PB limited partnership use in integration strategy in term of forward integration strategy, we give in convenience and fast in transportation and information. And use this strategy to increase market share and concern about customer satisfaction.

2.5.2 Business Strategy Differentiation

The Product Box Limited Partnership has target customers are online shop and retailer that they want to use box to packet. Our company has different promotion and service of our company better than competition, because we are fast and be on time.

2.5.3 Functional Level

Marketing Strategy Product

- Have 2 grade of box and they are different in thick and color such as KS, KC. Price. - Set price by standard price that survey from the competitors. Place

- Product Box has office at Bang Phli, province Samutprakan, should this place because the company establish at center of Thailand, easy to transport the product and nearly suppliers.

Promotion - Free transport - Advertising on internet. - Sale promotion - Customer feedback by using member of company website.

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Sale strategy

Selling Process: we used the webmaster do in seller to answer the customer in website. The webmaster will control and answer any order and any question that the customer contact with our limited partnership. And the webmaster will motivate the customer to buy the product and used after sale service method for make the customer thrust and make good image to our limited partnership.

Sale promotion: we have the sale promotion in the many famous festival such as Valentine’s Day, Halloween, Chinese New Year, and have the gift for all customers in New Year to make the customer believe that our limited partnership is interest and care the customer mind. In the website it’s has the picture and other media for promote the product.

Advertising: we sale in online market so we have the many advertising in the world wind web such as show the website in facebook and our webpage that have many information of the product. And when we sent the product to customer we will sent catalog or brochure with the product.

Website : The limited partnership’s website is basic website that commonly and easy to use, when customer open website. Moreover the limited partnership’s website has record information system of customer for convenience and speed in order to trade with the limited partnership in the future such as order history, and transfer payment.

In case that website is an error when customer use website or cannot login, customer can fix or recover the data by yourself. By following the simple instructions that appear on the website.

Posts of the limited partnership can meet in the homepage of website, for customer can get the information that customer need to know. By establishing a topic and type the required details for post and then webmaster of limited partnership available to answer question and provide information that customer need to know quickly. Moreover, the limited partnership will be tracking the results of shipment via the website, by webmaster will contact with customer directly through the messaging system on the customer has to register with the limited partnership’ website. The limited partnership will determine that customer receives complete product order and product in good condition according to customer requirements.

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Sale Strategies Cont.

Notification: When customer transfer payment and inform the data to the limited partnership, the limited partnership will update information about product and status of shipment to customer via the limited partnership’s website. In addition, after the customer transfer money to the limited partnership, a message automatically to email address that used to register of customer immediately, so the customer know that the limited partnership get the funds. Moreover, the company registered e-DBD to make facilities for customer.

Black lists: Black list will affect to customer when delinquency with the limited partnership more than 3 times because of the limited partnership does not need the customer who doing-wrong the policy of limited partnership.

Website Lock: When the customers have the contract with our website and the customer can record the information in website. The website of limited partnership will show the present information of the contract with customer.

Sources: http://smallbiztrends.com/wp-content/uploads/2011/11/key-sales.jpg

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Chapter 3 Market Feasibility Study

3.1 Marketing Analysis

Political

Increase the minimum wage

Central Committee of Thailand's policy has increase the minimum wage to 300 baht per day. Mr. Phademchai Sasomsub Minister of Labour, said that after the government is distributing income along with the preparation of measures to reduce the cost of living. Increase in the minimum wage, which is responsible for the Department of Labor from its consultation with relevant agencies have concluded initial clear that government will adjusted minimum wage to 300 baht per day. Approaches operation is will increase 40% by use account minimum wage is now enacted or as the base. For the provinces Current Samut Prakan minimum wage rates at 215 baht per day, up from the original 40% or 86 baht increase the minimum wage to 301 baht per day, so company have to pay high salary for employee that already graduated in degree, it make company must to pay higher cost of produce and the company get low income cause by pay a high salary for employee.

AEC (ASEAN Economics Community)

SMEs accounted for 96% of enterprises and between 50-85% of domestic employment across Asean. Integrating these SMEs and supporting them in the inital period will be a challenge throughout ASEAN but particularly in the lesser developed ASEAN countries. Recently I was in Singapore and it is obvious that the Singapore government fully realizes the challenge and the opportunity that the AEC will represent to SMEs and is putting both the planning talent and the resources to better support their SMEs. I was also in Vietnam and Thailand and although both countries are starting to verbalize and meet to develop more effective plans for SME integration and support, it is obvious that these plans are probably behind where they need to be. In countries, such as Cambodia, Laos and Myanmar (Burma), plans are even further behind and more in need of support and resources. So the most SMEs need to have packaging to hold product for import.

Source: http://www.prachachat.net/news_detail.php?newsid=1314755530&grpid=02&catid=no http://www.business-in-asia.com/asia/asean_economic_community.html

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Economic The trend about economics of Thailand will expand in 4.5% “Dr.Piyasak Manasan The diractor of research and planning division of Kiatnakin Bank” by the expand of economics of Thailand will get factor from the increase of consumer product, the effect of that come from increase minimum wage by government policy, so it will motivate about consumer in region and the part of invest of private to start expand the invest in first quarter and second quarter by the cause of invest the machine that need to repair and compensate the damage of machine from flooding in last year (2011), beside the invest about industry to restore the process of produce “Spatial Development Planning and Strategy Officer (SPSO)/NESDB/20 August 2555”. Social The produce of package in Thailand will increase in every years because main income of country come from the export so to make customer interest and choose to do business with the company, CSR (Corporate Social Responsibility) will be another alternative to influence customer to do business together in process of company, that realize every employee in company, employee is the best resource of company so must give a take care and develop performance, benefit and opportunity to the employee advantage by support about develop knowledge and ability of employee include with external of company to show about the company preserve the environment and guard benchmark of safety, including support activity to develop and preserve the environment, energy by organized activity to campaign for promote behavior to use resource in smart way “Samart Co.,Ltd”.

Source: http://www.prachachat.net/news_detail.php?newsid=1314755530&grpid=02&catid=no http://www.business-in-asia.com/asia/asean_economic_community.html

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Packaging environments

Paper packaging industry increased in production, exporting and importing, because of the ASEAN Community have both positive and negative effects to paper packaging industry, and domestic factors by a group of consumers more turned their attention to the environment. The consumers want the packaging that is environmentally friendly. Packaging design must consider the ability to reduce the amount of packaging used, because people know and awareness of the dangers of global warming. It will be losses to the environment and living organisms, which are the key elements of the Ecosystem. We must be protected, and change in today. In Thailand has 3R to use for environmentally friendly. It is Reuse, Reduce, and Recycle.

The choice of the packaging, that is friendly to the environment. It shows the consumers and society, that our business is caring for the world. The important think about the management of packaging "green" need to start focus on to the lifecycle of the package from the beginning supplying until the ending of use. In the Product Box company is uses natural raw materials, which can be decomposed to easily without destroying the natural environment, and can be recycled. The Product Box Company is attentive to social and environmental with choice of packaging for "green". This is not different from the general packaging. It will protect from damage of goods or product that inside the box from transportation and it is beautiful.

In the Product Box Company, the most of product is corrugated paper. That has to produce the carton packaging to put goods or product to transportation. In company have environment conservation to use the recycle paper into the processes of produce the carton packaging. It is the policy to save the energy and save the world. It is the corporate social responsibility.

Corrugated paper product in company

Most are made of corrugated material recycling, and often made from scrap of recycled human. Manufacture of corrugated paper without the use of toxic materials, or destruction of the ozone layer. The current have research and development capabilities of the corrugated market all the time, in order to improve the properties, the ability of corrugated paper, such as strength and the ability to print, resistant to moisture, and recycling. More than 74% of corrugated paper products are taken to recycling. The paper counts as one package with rates being highest recycling.

Source: http://www.foodnetworksolution.com/knowledge/content/142

http://www.dae.mi.th/world.htm

http://www.thaipaperbox.com/about-paper.php

http://www.bangkokbiznews.com

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Technology

Nowadays technology have role in many aspects of business. Many people use machine to help in their business which technology in modern not only in term of comfortable but technology assist in the production of goods. And the technology that we choose in company is concern about internet webpage and truck. In the present, internet has many roles in every industry because the number of people in communication by the internet is higher than ever such as Facebook is a large social network online and popular in nowadays which we use Fackbook to contact and send information to customer faster. And truck support in the transportation, when the transportation is convenient and fast that effect on satisfy of customer.

Technology in packaging

The packaging technology is important for logistic system because in term of safety on product, we protect in quality of product and not harm to the environment. So we choose in CUBE intelligent program, it help in enhance the capacity of packaging and design of packaging which the program can calculate the size and style of packaging it effect in design accuracy and minimum gap.

Sources: http://www.tradelogistics.go.th/download/file/5ee4543c.pdf

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3.2 Competition Analysis (3Cs Analysis)

3.2.1 Competitor Analysis

Paper Box Limiter Partnership can provide the competitor into two groups. There are direct competitor and indirect competitor. In term of direct competitor is the paper box trading company by using e-commerce that same as PB Limited Partnership . Such as DPS Limited Partnership and PJ Box. In term of indirect competitor is a company that they are produce the product, use internet for sell the goods and transport the goods for customer. Such as S C Paper-Pack Co.,Ltd.

Direct competitor

Design Packaging and Supply (DPS)

Design Packaging and Supply Limited Partnership is an trading company by using e-commerce to do the business. Main product of this company is a post office paper box. Moreover DPS has another products such as corrugated box, plastic shockproof and OPP tape. Target market of Design Packaging and Supply is retailer and wholesaler that most using the internet. The promotion of this company have only one promotion that is discount strategy, this promotion is for the order more than 3,000 baht. The transportation is to transport the goods to customer buy Thailand post and private company, such as NTC, SDS ,CKT transportation.

Advantage Point Disadvantage Point - The company have customer loyalty. - The transportation of their company are reliable for customer.

- Do not have the information about the company to make reliable of customer. - The company has unclear information of the amount to order products. - The company do not have the standard to guarantee their product. - The price of product is a little bit cheaper than the market.

Source: http://www.dps-postbox.com/?cid=1289592

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PJ Box

PJ Box is an e-commerce business. Their main customer are the people use the internet and have ability to buy low amount per order. The main product is Thailand post paper box. A part from paper box they sell the tool for packing, second hand paper box, etc. The price is quite high more than market price. The promotion of this shop is use a sale promotion. There are; If you order Thailand post paper box 100 pieces, you will get free five pieces and if you order 150 products from this shop, you will get free five paper boxes. They transport the goods to customer by Thailand Post, but if the order more than 1,500 baht, they will transport the goods to customer by private company.

Source: http://www.pj-box.co.th

Advantage Point Disadvantage Point - The company have customer loyalty. - The website are guarantee by e- commerce company. - The transportation is free.

- Do not have the information about the company to make reliable of customer. - The contact is not available for customer. - High price - Sale promotion is long-run, so it cannot motivate the customer.

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3.2.2 Customer analysis

Product Box Limited Partnerships has target on the online shops or e-commerce in Thailand, there are a lot of online shops on many websites. The famous websites, people want to open online shops are around 17 websites, some websites are free, some websites want to register the member, and pay the money to open online shops on the websites. We survey the number of online shops and member of 17 famous websites in Thailand that show the number on the table.

From the table, it shows number of online shops on each websites that the total online shops are 1,301,444 shops. In total online shops, there are many catalogs that include fashion and accessories, e-ticket, book, food drink and healthy goods, and etc. It shows on the table.

Web site Online shops www.weloveshopping.com 321,138

www.shopup.com 15,123 www.lnwshop.com 59,563 www.pantipmarket.com 10,555 www.dealfish.co.th 218,044 www.thaionlinemarket.com 79,516 www.siamonlineshop.com 2,940 www.be2hand.com 314,128 th.888db.com 646 www.siamshop.com 6,736 www.market2u.com 2,373 www.shop2thai.com 4,684 www.ilovemyshopping.com 6,804 www.yeepou.com 625 www.plazacool.com 705 www.catabgtoday.com 41 www.tarad.com 257,823

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Customer behavior

In Industrial Estate have many companies and factories produce their product for sale exchange or trade, they will pack their product and send their product to another company. In many factories use corrugated box for pack their product, they want to save their product for transport to customer and promote the product. Corrugated box has many qualifications for them, low cost, save their product, strong, many sizes and many styles for make to order. In location, they want to buy corrugated box from nearly their company that can reduce risk from transport corrugated box to their factory, it effect to their production, and it easy to order. And the quality of corrugated box, it effect to decision to buying, so Thai Industrial Standards Institute Library (TISI), it is certificate the corrugated box. So it has three main effects, qualification of corrugated box, location and quality of corrugated box.

1.9

3.9

4.1

4.7

5.7

8.7

10.8

12.5

13.3

13.4

14.8

30.8

Computor game

Softwares

games and gifts

Electricity and electroacoustics

Utensils and office

Booking services

Entertainment/Sport/Stationary products

Technology/Communication and photo

Food, drink and healthy goods

Book

e-Ticket

Clothing and jewery

Product and Service

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3.3.3 Competitive Analysis

We used Five – Forces model for analysis competitive that selling similar production our company. ( Michael Porter )

1. Rivalry Among Current Competitors

In online shopping has many shop that sell product box, but each companies

set the price of box hasn’t equal. Mostly companies focus online shop less than shop

of their sell, but we focus mostly online shopping and make lots of promotions with

online shopping more than competitor.

2. Bargaining Power of Suppliers

There are a lot of suppliers from Samutprakarn or near this province. There

can serve the production following my order. Moreover the price of production can be

lower, because we will order product box too much and then we can negotiate about

price of production lower and lower.

3. Bargaining Power of Customers

The bargaining power of customer has quite high, because there are a lot of

Paper products companies at Samutprakran that sell similar product, but we can solve

this problem from good negotiation and offer promotion that difference other

company. Moreover our company has good location, and near industry that used

Corrugated box more than competitor.

4. Threat of Substitute Products or Services

From now, every industries they used Corrugated box that produce by paper to

transport, it’s lower cost and easily to find or use. It has Normal box paper, but cannot

substitute Corrugated box, because that box haven’t flexible or strong as same as

Corrugated box. Most industries used Corrugated box to transport their product from

point one to other point. The Corrugated box is good way to protection their product

without broken. Moreover this box is not expensive.

5. Threat of New Entrance

The Product box has not easy to entry competition, because each companies

that use Corrugated box. They will have regular customer and they don’t want to

change their suppliers without New company offer good promotion greater than old

company.

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3.2 STP Analysis

Market Segmentation

Packaging segmentation

Market Segmentation of product box limited partnership is to provide type of packaging that normally people in Thailand use for transportation, classifies by material of packaging. In each types can separate into to group, there are online business (on website) and non-online business (industrial, factory and etc.).

The product box product limited partnership is use the packaging segmentation to analysis the packaging that normally consumers use in transportation. We divide the packaging segmentation into pie chart for easy to understand and analysis. This pie chart is show the percentage of packaging types. It has five segment that consist of 51.35% from paper , 20.52% from metal, 14.61% from plastic ,9.91% from glass, 3.60% from other. There are two group in each type of packaging; online business and non-online business.

Source: รายงานสถานการณอตสาหกรรมและความสามารถในการแขงขนภาคอตสาหกรรมจงหวดสมทรปราการ ป 2552

Target Market

The target market of product box limited partnerships, we analyze paper packaging segment and focus on online business. The target market are online shop and retailer because this target market is bigger than other and online shops are increasing in every year. This group use corrugated box for pack their product to transportation.

Paper51%

Metal20%

Plastic15%

Glass10%

Others4%

Packaging Segmentation

49

High Price Low Price

More promotion

Less promotion

Paper Box Limited Partnership

DPS Limited Partnerships

PJ Box

Position Analysis

The product position of Product Box company have more promotion when compare

with others two company. But Product Box company use nearly standard price.

50

3.3 Marketing Mix/4P

Product

- The Company sale corrugated box, thick box have 2 types:

1. Thick three layers (Single wall) have a paper layer to make for surface of box and wave of corrugated, paper make a surface of box. It is popular to contain a general product that have a middle weight or take it to pad and partition another side of box beside it can increase thick of box.

2. Thick five layers (Double wall) its different from three layer. It is complex more than by increase amount of paper to make pad and partition for protect and strength, popular to contain product that have a high weight and its can bring to produce to composition to increase the strength of box.

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Surface of box in two grades for the customer to use in their work as appropriate:

1. Paper grade KS or white paper focus on good image and high quality . It has a

strength and benchmark weight is 170 gram.

2. Paper KC is light brown paper, produce from recycle paper in 100 % to promote about preserve environment and also look beautiful and strong, can place overlap together.

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Price

The price is determinant the image for the goods so the company must set the price follow the cost and profit of company, but the price should not set a highest than market value and not lowest more than cost, because to keep image and quality of product to make it worth to buy by the price ,make the price not highest than market value and not lowest if lowest or highest too much, it will look this product is low quality so if you price is goods, your customer will trust your brand and have a confident to purchase the product.

Price strategy

- Step 1 Search for the general price of competitor then we got the price of box each company and they have difference price ,so we average price from price of each product.

- Step 2 After we have average price. We set the level of price up to size of our product.

- Step 3 The price of our product have higher average price because our company have more promotion to promote our product, and then we can set price more than average.

Retail price Ready-Made Type 0 = 11 x 17 x 6 cm. = 4.7 Bath. Ready-Made Type A = 14 x 20 x 6 cm. = 5.7 Bath. Ready-Made Type B = 17 x 25 x 9 cm. = 7.7 Bath. Ready-Made Type C = 20 x 30 x 11 cm. = 10.7 Bath. Ready-Made Type D = 22 x 35 x 14 cm. = 14.7 Bath. Ready-Made Type E = 24 x 40 x 17 cm. = 19.7 Bath. Ready-Made Type F = 30 x 45 x 20 cm. = 22 Bath. Normal Carton No.1 = 14 x 20 x 6 cm. = 4.3 Bath. Normal Carton No.2 = 17 x 25 x 9 cm. = 5.7 Bath. Normal Carton No.3 = 20 x 30 x 11 cm. = 7.7 Bath. Normal Carton No.4 = 22 x 35 x 14 cm. = 10.7 Bath. Normal Carton No.5 = 24 x 40 x 17 cm. = 12.7 Bath. Normal Carton No.6 = 30 x 45 x 20 cm. = 17.7 Bath.

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Price of advertise in the internet -cost for hire the programmer for create the website 3-4hundred thousand baht in the first year. -cost for rent the website from other server, if don't have own server website (depend on population of the website that we rent) -cost of remain the website in the next several years around 50,000 baht and renewal fees 5,000-8,000 baht per years

Place

Industrial Estate Bang Phli, province Samutprakan. So the company choose place to establish the office is important in many way, especially the way to transport the product to the customer. Industrial Estate Bang Phli is the place that easy to transport the goods to the customer, because this place is in the middle of the country, then the cost of transportation will be in the same price and it can reduce cost of the company.

54

Promotion

Website In the website has the information of the limited partnership, address, detail to contact and order the product.

The Product Box limited partnership choose the package of 35,000 Baht per year, then the website is available for online market. This package is to promote the PB limited Partnership on the internet. Moreover this package will post the website of the company on google.com, youtube.com, facebook.com, mobile or others.

Price for make the website is 35,000 baht per year. Total price for 5 years = 175,000 baht

Product Box Partnership website is advertise on others website. To find more customers on social network. Such as ;

The process to create website

Send the information of service and product to

customer.

Create the website and information of

service/products.

Online website is available to use.

The customer can update the website by themselves.

55

The system from seller that available to the website.

On website will show ;

1.Trustmark :

The Product Box Limited Partnership registered in Department Of Business Development, The Ministry of commerce of Thailand. We will got DBD registered, this Trustmark will show on company website. The advantage of this Trustmark are; guarantee the website for customer and it can make reliability to the customer.

2.Thailand Post's Track & Trace system

"Welcome to Thailand Post's Track & Trace system. This system is designed for customers in order to track item delivery in Thailand and International. Customers can follow the result of searching request in very easy way. The step is start from input item number which show on your receipt, then click the "Track" button,2013" The advantage of this mark is make reliable to customer in transportation.

Source: http://www.trustmarkthai.com/ecm/public/home.html

http://track.thailandpost.co.th/trackinternet/Default.aspx

http://www.dbd.go.th/mainsite/index.php?id=1

56

Siam Commercial Bank

Bangkok Bank

Kasikorn Bank Bank of Ayudhya Public Company Limited

KrungThai Bank TMB Bank Public Company Limited

Siam City Bank Public Company Limited

UOB

3. Payment mark

The limited partnership is registered with DBD e-certificate, to ensure that customer in payment for goods and service. After customer paid for company’s goods will receive the order required. Because the project that the limited partnership registered the system DBD e-certificate, has bank also attended. The customer can ask for the information assertion that the limited partnership exists with participating banks and branches everywhere. Bank can provide information for customer with Bangkok Bank, KrungThai Bank, Government Savings Bank, and Kasikorn Bank, which has 2,265 branches across Thailand.

How to payment?

Customer can choose ways to payment money into bank account of the limited partnership multi-channel, depending on availability of individual customer such as direct bank payments, payment via internet , ATM and credit card (VIZA, MASTERCARD and etc.)

Online payment system allows the limited partnership to serve customers who want to buy products from the limited partnership by cutting money from the customer’s credit card. The limited partnership will be able to manage information from the website and also get to know the customer’s payment real time.

Customer want to buy products from the limited partnership can pay all the way to throughout 24 hours for convenience, safety and reliability to the customer. After customer pay for goods and then inform information about transfer to the limited partnership, a message will automatically reply to the customer to confirm that the limited partnership has been transferred to the customer order payments already. Moreover, the limited partnerships also update the status of shipments on website to customer for check immediately or within 24 hours after receive money payment from customer.

**Notes**

For safety and confidence, customers should keep the document or receipt payment until receiving.

Source: http://www.dbd.go.th/mainsite/index.php?id=25087

https://taradpay.com/new_pay/Service/creditcard.php

57

On website will show cont. ;

4. Website lock

The website will notification the customer if it has error in login 5 times for make the security system to the customer information. The limited partnership will send the automatic massage to the customer for inform the security password to the customer login and change the new password. If the customer record personal information that important on website, please observe padlock symbol in the left hand side on Universal Resource Locator (URL) of website. In Universal Resource Locator will have padlock symbol for the customer to see that the limited partnership uses Secure Sockets Layer (SSL), which the protocol is encrypted communication channel between client computer with website. Secure Sockets Layer can protect the information of customer from noise by other people.

Website of the limited partnership has create a secure connection to customer’s privacy. It is make ensure that, when customer registering and order the product. The information of customer will not be leaked or someone impersonating led the customer data to cause of damage to the customer. So when the customer seen the symbol, it can make sure that the customer data will be kept securely in database of the limited partnership and customer can be checked. *the limited partnership use Extended Validation SSL certificates (EV-SSL), so customer can see the name of company appear beside the symbol which be green font *

Source : http://support.google.com/chrome/bin/answer.py?hl=th&answer=95617

58

Brochure for send to every customer who orders our product

(Send 20,000 paper per year, 5 years used 100,000 paper)

- A4 Glossy coated paper 105gram 0.5/piece x 100,000piese/for 5years = 50,000baht - Deliver to Bangkok metropolitan region area 500baht = 50,500baht - Price per one brochure 100,000/50,500 = 0.505baht - Total price for 5years = 50,500 baht.

Source: http://www.makewebeasy.com/webdesign/?gclid=CJnA0JPBkrUCFVF96wodClkAqg

http://www.naitamtook.com/brochour.html

59

Free Delivery to area 50 kilometer from the limited partnership

Free delivery to the customer in area 50 kilometer around the limited partnership when order the product more than 1,500 baht. Price of Natural Gas for Vehicles (NGV) is 11.5 baht per kilogram In 1 day drive 15 kilometer x30days in 1month = 450 kilometer but NGV 1,600 baht can drive more than 900 kilometer. Total price of NGV in 1 month is 800 baht. In year 1 used NGV 800 x12month = 9,600baht, and increase sale in August 5% and December 5% = 9,680 baht per year. In year 2 used NGV 880 x12month =10,560baht, increase sale in January 5%, February 10%, August 5% and December 5% =10,780baht. In year 3 used NGV 968 x12month =11,616baht, increase sale in January 5%, February 10%, August 5% and December 5% = 11,858baht. In year 4 used NGV 1,065 x12month =12,780baht, increase sale in January 5%, February 10%, August 5% and December 5% =13,046baht. In year 5 used NGV 1,172 x12month = 14,064 baht, increase sale in January 5%, February 10%, August 5% and December 5% =14,358baht.

January

Free T-shirt for customer in every New Year

Price T-shirt free size 85baht, screen color 7baht per 1color (we use 4color =28baht) and free blog screen. in year 2 gift T-shirt 300 piece 300x85 = 25,500baht, screen color 300x28 = 8,400baht, total price 25,500+8,400 = 33,900baht and price per one T-shirt is 113baht in year 3 gift T-shirt 450 piece 450x85 = 38,250baht, screen color 450x28 = 12,600baht, total price 38,250+12,600 = 50,850baht and price per one T-shirt is 113baht in year 4 gift T-shirt 600 piece 600x85 = 51,000baht, screen color 600x28 = 16,800baht, total price 51,000+16,800 = 67,800baht and price per one T-shirt is 113baht in year 5 gift T-shirt 800 piece 800x85 = 68,000baht, screen color 800x28 = 22,400baht, total price 68,000+22,400 = 90,400baht and price per one T-shirt is 113baht Total price for 4 year is 242,950 baht

Source: http://www.topboosters.net/wizContent.asp?wizConID=97&txtmMenu_ID=59

http://www.pandascreen.com/main/%E0%B8%A3%E0%B8%B2%E0%B8%84%E0%B8%B2%E0%B8%84%E0%B9%88%E0%B8%B2%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%87%E0%B8%B2%E0%B8%99%E0%B8%AA%E0%B8%81%E0%B8%A3%E0%B8%B5%E0%B8%99%E0%B9%80%E0%B8%AA%E0%B8%B7%E0%B9%89%E0%B8%AD.html

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New Year card send to every customer in New Year festival.

Card size 6x4inches price per one piece for wholesale less than 400piece = 6.5baht per piece and more than 450piece = 5.5baht per piece in year 2 used 300piece x6.5 = 1,950 and price for deliver 50baht = 2,000baht in year 3 used 500piece x5.5 = 2,750 and price for deliver 65baht = 2,815baht in year 4 used 700piece x5.5 = 3,850 and price for deliver 65baht = 3,915baht in year 5 used 900piece x5.5 = 4,950 and price for deliver 65baht = 5,015baht Total price for 4 years = 13,745baht

In February

Valentine’s Day For the customer who buys the product 800 baht will receive cartoon tape size 36 inches for free (order for produce the cartoon tape 1 piece 35 baht) cartoon tape screen heart pattern width 2 inches 50 yards long and free delivery. 576 piece x35bath = 20,160 baht Total price for 4 years = 80,640

Angpao in Chinese New Year Festival The customer who buys the product more than 1,000 baht has right for win in random name to get the Angpao reward value 500 baht 3 award, 1,000 baht 2 award and 1,500 baht 1 award. Total reward (500x3) + (1,000x2) +1,500 = 5,000 baht Total price for 5 years = 25,000 baht

In June

Gift free the whipcord in 1-30 June. For the customer who buy the die cut box any size more than 600 baht, get the whipcord 1 meter per 1 box follow the volume that customer order. The white whipcord no.18 weight 0.5 kilogram, longer 425 meter and 90 baht per 1 roll. Used 500 rolls x90baht = 45,000baht, total weight 250 kilogram and free delivery. Total price for 5 years = 225,000 baht

Source: www.facebook.com/chamcard

www.scpaperpack.co.th

61

In August

Mother’s day card is send to every customer who orders our product in 5 days before mother’s day. For mother’s day Card size 6x4inches price per one piece for wholesale less than 450piece = 6.5baht per piece and more than 450piece = 5.5baht per piece in year 1 used 200piece x6.5 = 1,300 and price for deliver 50baht = 1,350baht in year 2 used 400piece x6.5 = 2,600 and price for deliver 50baht = 2,650baht in year 3 used 450piece x5.5 = 2,475 and price for deliver 65baht = 2,540baht in year 4 used 500piece x5.5 = 2,750 and price for deliver 65baht = 2,815baht in year 5 used 600piece x5.5 = 3,300 and price for deliver 65baht = 3,365baht total price for 5 years = 12,720baht

In September

Gift free the whipcord in 1-30 September. For the customer who buy the die cut box any size more than 600 baht, get the whipcord 1 meter per 1 box follow the volume that customer order. The white whipcord no.18 weight 0.5 kilogram, longer 425 meter and 90 baht per 1 roll. Used 500 rolls x90baht = 45,000baht, total weight 250 kilogram and free delivery. Total price for 5 years = 225,000 baht

In October

Halloween Day For the customer who buys the product 800 baht will receive cartoon tape size 36 inches for free (order for produce the cartoon tape 1 piece 35 baht) cartoon tape screen Halloween pattern width 2 inches 50 yards long and free delivery. 576 piece x35bath = 20,160 baht Total price for 4 years = 80,640 baht.

Source: www.facebook.com/chamcard

www.scpaperpack.co.th

www.pandatape.com

62

In December

Father’s day card is send to every customer who orders our product in 5 days before Father’s day. For father’s day Card size 6x4inches price per one piece for wholesale less than 450piece = 6.5baht per piece and more than 450piece = 5.5baht per piece in year 1 used 200piece x6.5 = 1,300 and price for deliver 50baht = 1,350baht in year 2 used 400piece x6.5 = 2,600 and price for deliver 50baht = 2,650baht in year 3 used 450piece x5.5 = 2,475 and price for deliver 65baht = 2,540baht in year 4 used 500piece x5.5 = 2,750 and price for deliver 65baht = 2,815baht in year 5 used 600piece x5.5 = 3,300 and price for deliver 65baht = 3,365baht Total price for 5 years = 12,720baht

Gift voucher when buy the product more than 3,000 baht has right to get the gift voucher value 500 baht only 10 awards in 1-5 December by using random program to find the lucky person.

Gift voucher 500 bath x10 awards =5,000 baht Total price for 5 year = 25,000baht

In Year 5

Fuk Luk Sau in Chinese New Year for only the 20 customer that has most orders in 5years to show that our organization interested in customer royalty. Fuk Luk Sau width 5centimeter high 8centimeter 150baht per 1 set of Fuk Luk Sau Used 20 set x150 = 3,000baht and free price of deliver.

Source: www.facebook.com/chamcard

http://www.numchoke.com/index.php?lay=show&ac=cat_show_pro_detail&cid=1817&pid=77512

63

3.4 Sales Forecast/Profit Estimation

From the promotion of the company every year

Sale forecast

The product box limited partnerships has target on the online shops in 17 famous websites, there are 1,301,444 shops that include with 12 categories of product and service. From the 12 categories, there are 2 categories that do not use the corrugated paper box, so we will cut these categories out of the target market, both are around 23.5%, the real customer of the company are 76.5% of all online shops from the survey.

1,301,444 x 0.765 = 995,605 shops

And company set the goal of first years at 0.8% of online shops that use the corrugated paper box.

995,605 x 0.008 = 7,965 shops

In each month,

7,965/12 = 664 shops

The company expected the online shops that buy the corrugated paper boxes from company will buy the boxes in average 100 boxes per shop

664 x 100 = 66,400 boxes

The company has 2 types of corrugated paper boxes that include Ready-Made Carton and Normal Carton. From survey, more online shops buy Normal Carton more than Ready-Made Carton, 60% Normal Carton and 40% Ready-Made Carton. In Ready-Made Carton, there are 7 types of box, online shop normally use type A, B and C, so the company will sell Ready-Made Carton in type O 15%, A 20%, B 20%, C 20%, D 10%, E 10% and F 5%. In Normal Carton, there are 6 types, online shops normally use No.1 30%, No. 2 25%, No.3 20%, No.4 10%, No.5 10% and No.6 5%.

The company will increase the number of boxes that sell to online shops at 10% every year, this increase

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Year 1: Sale Volume

Year1 : Sale

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 4183 4382 3984 3984 3984 3984 3984 4183 3984 3984 3984 4183 48804A 5.7 5578 5843 5312 5312 5312 5312 5312 5578 5312 5312 5312 5578 65072B 7.7 5578 5843 5312 5312 5312 5312 5312 5578 5312 5312 5312 5578 65072C 10.7 5578 5843 5312 5312 5312 5312 5312 5578 5312 5312 5312 5578 65072D 14.7 2789 2922 2656 2656 2656 2656 2656 2789 2656 2656 2656 2789 32536E 19.7 2789 2922 2656 2656 2656 2656 2656 2789 2656 2656 2656 2789 32536F 22.7 1394 1461 1328 1328 1328 1328 1328 1394 1328 1328 1328 1394 16268Normal CartonNo.1 4.3 12550 13147 11952 11952 11952 11952 11952 12550 11952 11952 11952 12550 146412No.2 5.7 10458 10956 9960 9960 9960 9960 9960 10458 9960 9960 9960 10458 122010No.3 7.7 8366 8765 7968 7968 7968 7968 7968 8366 7968 7968 7968 8366 97608No.4 10.7 4183 4382 3984 3984 3984 3984 3984 4183 3984 3984 3984 4183 48804No.5 12.7 4183 4382 3984 3984 3984 3984 3984 4183 3984 3984 3984 4183 48804No.6 17.7 2092 2191 1992 1992 1992 1992 1992 2092 1992 1992 1992 2092 24402Total 144.7 69720 73040 66400 66400 66400 66400 66400 69720 66400 66400 66400 69720 813400

Year 1

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 19661 20597 18725 18725 18725 18725 18725 19661 18725 18725 18725 19661 229379A 5.7 31792 33306 30278 30278 30278 30278 30278 31792 30278 30278 30278 31792 370910B 7.7 42948 44993 40902 40902 40902 40902 40902 42948 40902 40902 40902 42948 501054C 10.7 59680 62522 56838 56838 56838 56838 56838 59680 56838 56838 56838 59680 696270D 14.7 40995 42948 39043 39043 39043 39043 39043 40995 39043 39043 39043 40995 478279E 19.7 54939 57556 52323 52323 52323 52323 52323 54939 52323 52323 52323 54939 640959F 22.7 31653 33160 30146 30146 30146 30146 30146 31653 30146 30146 30146 31653 369284Normal CartonNo.1 4.3 53963 56533 51394 51394 51394 51394 51394 53963 51394 51394 51394 53963 629572No.2 5.7 59611 62449 56772 56772 56772 56772 56772 59611 56772 56772 56772 59611 695457No.3 7.7 64421 67489 61354 61354 61354 61354 61354 64421 61354 61354 61354 64421 751582No.4 10.7 44760 46892 42629 42629 42629 42629 42629 44760 42629 42629 42629 44760 522203No.5 12.7 53127 55656 50597 50597 50597 50597 50597 53127 50597 50597 50597 53127 619811No.6 17.7 37021 38784 35258 35258 35258 35258 35258 37021 35258 35258 35258 37021 431915Total 144.7 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296

Year 1

Sale

65

Year 2: Sale Volume

Year 2: Sale

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 4602 4821 4382 4382 4382 4382 4382 4602 4382 4382 4382 4602 53684A 5.7 6135 6428 5843 5843 5843 5843 5843 6135 5843 5843 5843 6135 71579B 7.7 6135 6428 5843 5843 5843 5843 5843 6135 5843 5843 5843 6135 71579C 10.7 6135 6428 5843 5843 5843 5843 5843 6135 5843 5843 5843 6135 71579D 14.7 3068 3214 2922 2922 2922 2922 2922 3068 2922 2922 2922 3068 35790E 19.7 3068 3214 2922 2922 2922 2922 2922 3068 2922 2922 2922 3068 35790F 22.7 1534 1607 1461 1461 1461 1461 1461 1534 1461 1461 1461 1534 17895Normal CartonNo.1 4.3 13805 14462 13147 13147 13147 13147 13147 13805 13147 13147 13147 13805 161053No.2 5.7 11504 12052 10956 10956 10956 10956 10956 11504 10956 10956 10956 11504 134211No.3 7.7 9203 9641 8765 8765 8765 8765 8765 9203 8765 8765 8765 9203 107369No.4 10.7 4602 4821 4382 4382 4382 4382 4382 4602 4382 4382 4382 4602 53684No.5 12.7 4602 4821 4382 4382 4382 4382 4382 4602 4382 4382 4382 4602 53684No.6 17.7 2301 2410 2191 2191 2191 2191 2191 2301 2191 2191 2191 2301 26842Total 144.7 76692 80344 73040 73040 73040 73040 73040 76692 73040 73040 73040 76692 894740

Year 2

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 21627 22657 20597 20597 20597 20597 20597 21627 20597 20597 20597 21627 252317A 5.7 34972 36637 33306 33306 33306 33306 33306 34972 33306 33306 33306 34972 408001B 7.7 47242 49492 44993 44993 44993 44993 44993 47242 44993 44993 44993 47242 551160C 10.7 65648 68774 62522 62522 62522 62522 62522 65648 62522 62522 62522 65648 765897D 14.7 45095 47242 42948 42948 42948 42948 42948 45095 42948 42948 42948 45095 526107E 19.7 60433 63311 57556 57556 57556 57556 57556 60433 57556 57556 57556 60433 705055F 22.7 34818 36476 33160 33160 33160 33160 33160 34818 33160 33160 33160 34818 406212Normal CartonNo.1 4.3 59360 62186 56533 56533 56533 56533 56533 59360 56533 56533 56533 59360 692529No.2 5.7 65572 68694 62449 62449 62449 62449 62449 65572 62449 62449 62449 65572 765003No.3 7.7 70863 74238 67489 67489 67489 67489 67489 70863 67489 67489 67489 70863 826740No.4 10.7 49236 51581 46892 46892 46892 46892 46892 49236 46892 46892 46892 49236 574423No.5 12.7 58439 61222 55656 55656 55656 55656 55656 58439 55656 55656 55656 58439 681792No.6 17.7 40723 42663 38784 38784 38784 38784 38784 40723 38784 38784 38784 40723 475107Total 144.7 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378026

Year 2

Sale

66

Year 3: Sale Volume

Year3 : Sale

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 5062 5303 4821 4821 4821 4821 4821 5062 4821 4821 4821 5062 59053A 5.7 6749 7070 6428 6428 6428 6428 6428 6749 6428 6428 6428 6749 78737B 7.7 6749 7070 6428 6428 6428 6428 6428 6749 6428 6428 6428 6749 78737C 10.7 6749 7070 6428 6428 6428 6428 6428 6749 6428 6428 6428 6749 78737D 14.7 3374 3535 3214 3214 3214 3214 3214 3374 3214 3214 3214 3374 39369E 19.7 3374 3535 3214 3214 3214 3214 3214 3374 3214 3214 3214 3374 39369F 22.7 1687 1768 1607 1607 1607 1607 1607 1687 1607 1607 1607 1687 19684Normal CartonNo.1 4.3 15185 15908 14462 14462 14462 14462 14462 15185 14462 14462 14462 15185 177159No.2 5.7 12654 13257 12052 12052 12052 12052 12052 12654 12052 12052 12052 12654 147632No.3 7.7 10123 10605 9641 9641 9641 9641 9641 10123 9641 9641 9641 10123 118106No.4 10.7 5062 5303 4821 4821 4821 4821 4821 5062 4821 4821 4821 5062 59053No.5 12.7 5062 5303 4821 4821 4821 4821 4821 5062 4821 4821 4821 5062 59053No.6 17.7 2531 2651 2410 2410 2410 2410 2410 2531 2410 2410 2410 2531 29526Total 144.7 84361 88378 80344 80344 80344 80344 80344 84361 80344 80344 80344 84361 984214

Year 3

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 23790 24923 22657 22657 22657 22657 22657 23790 22657 22657 22657 23790 277548A 5.7 38469 40301 36637 36637 36637 36637 36637 38469 36637 36637 36637 38469 448802B 7.7 51966 54441 49492 49492 49492 49492 49492 51966 49492 49492 49492 51966 606276C 10.7 72213 75652 68774 68774 68774 68774 68774 72213 68774 68774 68774 72213 842487D 14.7 49604 51966 47242 47242 47242 47242 47242 49604 47242 47242 47242 49604 578718E 19.7 66477 69642 63311 63311 63311 63311 63311 66477 63311 63311 63311 66477 775561F 22.7 38300 40124 36476 36476 36476 36476 36476 38300 36476 36476 36476 38300 446833Normal CartonNo.1 4.3 65296 68405 62186 62186 62186 62186 62186 65296 62186 62186 62186 65296 761782No.2 5.7 72129 75564 68694 68694 68694 68694 68694 72129 68694 68694 68694 72129 841503No.3 7.7 77950 81662 74238 74238 74238 74238 74238 77950 74238 74238 74238 77950 909414No.4 10.7 54160 56739 51581 51581 51581 51581 51581 54160 51581 51581 51581 54160 631865No.5 12.7 64283 67344 61222 61222 61222 61222 61222 64283 61222 61222 61222 64283 749971No.6 17.7 44796 46929 42663 42663 42663 42663 42663 44796 42663 42663 42663 44796 522618Total 144.7 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115829

Year 3

Sale

67

Year 4: Sale Volume

Year4 : Sale

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 5568 5833 5303 5303 5303 5303 5303 5568 5303 5303 5303 5568 64958A 5.7 7424 7777 7070 7070 7070 7070 7070 7424 7070 7070 7070 7424 86611B 7.7 7424 7777 7070 7070 7070 7070 7070 7424 7070 7070 7070 7424 86611C 10.7 7424 7777 7070 7070 7070 7070 7070 7424 7070 7070 7070 7424 86611D 14.7 3712 3889 3535 3535 3535 3535 3535 3712 3535 3535 3535 3712 43305E 19.7 3712 3889 3535 3535 3535 3535 3535 3712 3535 3535 3535 3712 43305F 22.7 1856 1944 1768 1768 1768 1768 1768 1856 1768 1768 1768 1856 21653Normal CartonNo.1 4.3 16704 17499 15908 15908 15908 15908 15908 16704 15908 15908 15908 16704 194874No.2 5.7 13920 14582 13257 13257 13257 13257 13257 13920 13257 13257 13257 13920 162395No.3 7.7 11136 11666 10605 10605 10605 10605 10605 11136 10605 10605 10605 11136 129916No.4 10.7 5568 5833 5303 5303 5303 5303 5303 5568 5303 5303 5303 5568 64958No.5 12.7 5568 5833 5303 5303 5303 5303 5303 5568 5303 5303 5303 5568 64958No.6 17.7 2784 2916 2651 2651 2651 2651 2651 2784 2651 2651 2651 2784 32479Total 144.7 92797 97216 88378 88378 88378 88378 88378 92797 88378 88378 88378 92797 1082635

Year 4

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 26169 27415 24923 24923 24923 24923 24923 26169 24923 24923 24923 26169 305303A 5.7 42316 44331 40301 40301 40301 40301 40301 42316 40301 40301 40301 42316 493682B 7.7 57163 59885 54441 54441 54441 54441 54441 57163 54441 54441 54441 57163 666903C 10.7 79435 83217 75652 75652 75652 75652 75652 79435 75652 75652 75652 79435 926736D 14.7 54565 57163 51966 51966 51966 51966 51966 54565 51966 51966 51966 54565 636590E 19.7 73124 76606 69642 69642 69642 69642 69642 73124 69642 69642 69642 73124 853117F 22.7 42130 44136 40124 40124 40124 40124 40124 42130 40124 40124 40124 42130 491516Normal CartonNo.1 4.3 71825 75245 68405 68405 68405 68405 68405 71825 68405 68405 68405 71825 837960No.2 5.7 79342 83120 75564 75564 75564 75564 75564 79342 75564 75564 75564 79342 925653No.3 7.7 85745 89828 81662 81662 81662 81662 81662 85745 81662 81662 81662 85745 1000355No.4 10.7 59576 62413 56739 56739 56739 56739 56739 59576 56739 56739 56739 59576 695052No.5 12.7 70712 74079 67344 67344 67344 67344 67344 70712 67344 67344 67344 70712 824968No.6 17.7 49275 51622 46929 46929 46929 46929 46929 49275 46929 46929 46929 49275 574879Total 144.7 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927412

Year 4

Sale

68

Year 5: Sale Volume

Year 5: Sale

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 6125 6416 5833 5833 5833 5833 5833 6125 5833 5833 5833 6125 71454A 5.7 8166 8555 7777 7777 7777 7777 7777 8166 7777 7777 7777 8166 95272B 7.7 8166 8555 7777 7777 7777 7777 7777 8166 7777 7777 7777 8166 95272C 10.7 8166 8555 7777 7777 7777 7777 7777 8166 7777 7777 7777 8166 95272D 14.7 4083 4278 3889 3889 3889 3889 3889 4083 3889 3889 3889 4083 47636E 19.7 4083 4278 3889 3889 3889 3889 3889 4083 3889 3889 3889 4083 47636F 22.7 2042 2139 1944 1944 1944 1944 1944 2042 1944 1944 1944 2042 23818Normal CartonNo.1 4.3 18374 19249 17499 17499 17499 17499 17499 18374 17499 17499 17499 18374 214362No.2 5.7 15312 16041 14582 14582 14582 14582 14582 15312 14582 14582 14582 15312 178635No.3 7.7 12249 12833 11666 11666 11666 11666 11666 12249 11666 11666 11666 12249 142908No.4 10.7 6125 6416 5833 5833 5833 5833 5833 6125 5833 5833 5833 6125 71454No.5 12.7 6125 6416 5833 5833 5833 5833 5833 6125 5833 5833 5833 6125 71454No.6 17.7 3062 3208 2916 2916 2916 2916 2916 3062 2916 2916 2916 3062 35727Total 144.7 102077 106938 97216 97216 97216 97216 97216 102077 97216 97216 97216 102077 1190899

Year 5

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 28786 30156 27415 27415 27415 27415 27415 28786 27415 27415 27415 28786 335834A 5.7 46547 48764 44331 44331 44331 44331 44331 46547 44331 44331 44331 46547 543050B 7.7 62879 65874 59885 59885 59885 59885 59885 62879 59885 59885 59885 62879 733594C 10.7 87378 91539 83217 83217 83217 83217 83217 87378 83217 83217 83217 87378 1019409D 14.7 60021 62879 57163 57163 57163 57163 57163 60021 57163 57163 57163 60021 700249E 19.7 80437 84267 76606 76606 76606 76606 76606 80437 76606 76606 76606 80437 938428F 22.7 46343 48550 44136 44136 44136 44136 44136 46343 44136 44136 44136 46343 540668Normal CartonNo.1 4.3 79008 82770 75245 75245 75245 75245 75245 79008 75245 75245 75245 79008 921756No.2 5.7 87276 91432 83120 83120 83120 83120 83120 87276 83120 83120 83120 87276 1018219No.3 7.7 94319 98811 89828 89828 89828 89828 89828 94319 89828 89828 89828 94319 1100391No.4 10.7 65533 68654 62413 62413 62413 62413 62413 65533 62413 62413 62413 65533 764557No.5 12.7 77783 81487 74079 74079 74079 74079 74079 77783 74079 74079 74079 77783 907465No.6 17.7 54203 56784 51622 51622 51622 51622 51622 54203 51622 51622 51622 54203 632367Total 144.7 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820153

Year 5

Sale

69

Marketing Expenses (Sales Incentive)

Year 1

Year 2

Year 3

Year 4

Year 5

year 1 January February March April May June July August September October November December Total

Brochure 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 20,000Angpao 5,000 5,000free the whipcord 45,000 45,000Celebration card 1,350 1,350 2,700Gift voucher 5,000 5,000Free Deliver 800 800 800 800 800 800 800 840 800 800 800 840 9,680Website 35,000 35,000Total expense 82,466.67 7,466.67 2,466.67 2,466.67 2,466.67 2,466.67 2,466.67 3,856.67 2,466.67 2,466.67 2,466.67 8,856.67 122,380

Promotion expense

year 2 January February March April May June July August September October November December Total

Brochure 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 20,000Free T-shirt 33,900 33,900New Year card 2,000 2,000Valentine’s Day 20,160 20,160Angpao 5,000 5,000free the whipcord 45,000 45,000Celebration card 2,650 2,650 5,300Halloween 20,160 20,160Gift voucher 5,000 5,000Free Deliver 924 968 880 880 880 880 880 924 880 880 880 924 10,780Website 35,000 35,000Total expense 118,490.67 27,794.67 2,546.67 2,546.67 2,546.67 2,546.67 2,546.67 5,240.67 2,546.67 22,706.67 2,546.67 10,240.67 202,300

Promotion expense

year 3 January February March April May June July August September October November December Total

Brochure 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 20,000Free T-shirt 50,850 50,850New Year card 2,815 2,815Valentine’s Day 20,160 20,160Angpao 5,000 5,000free the whipcord 45,000 45,000Celebration card 2,540 2,540 5,080Halloween 20,160 20,160Gift voucher 5,000 5,000Free Deliver 1,016 1,065 968 968 968 968 968 1,016 968 968 968 1,016 11,858Website 35,000 35,000Total expense 136,348.07 27,891.47 2,634.67 2,634.67 2,634.67 2,634.67 2,634.67 5,223.07 2,634.67 22,794.67 2,634.67 10,223.07 220,923

Promotion expense

5 10 5 5 ######

year 4 January February March April May June July August September October November December Total

Brochure 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 20,000Free T-shirt 67,800 67,800New Year card 3,915 3,915Valentine’s Day 20,160 20,160Angpao 5,000 5,000free the whipcord 45,000 45,000Celebration card 2,815 2,815 5,630Halloween 20,160 20,160Gift voucher 5,000 5,000Free Deliver 1,118 1,172 1,065.00 1,065.00 1,065.00 1,065.00 1,065.00 1,118 1,065.00 1,065.00 1,065.00 1,118 13,046Website 35,000 35,000Total expense 154,499.92 27,998.17 2,731.67 2,731.67 2,731.67 2,731.67 2,731.67 5,599.92 2,731.67 22,891.67 2,731.67 10,599.92 240,711.25

Promotion expense

year 5 January February March April May June July August September October November December Total

Brochure 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 1,666.67 20,000Free T-shirt 90,400 90,400New Year card 5,015 5,015Valentine’s Day 20,160 20,160Angpao 5,000 5,000free the whipcord 45,000 45,000Celebration card 3,365 3,365 6,730Halloween 20,160 20,160Gift voucher 5,000 5,000Free Deliver 1,231 1,290 1,172.00 1,172.00 1,172.00 1,172.00 1,172.00 1,231 1,172.00 1,172.00 1,172.00 1,231 14,358Website 35,000 35,000Fuk Luk Sau 3,000 3,000Total expense 178,312.27 31,116.67 2,838.67 2,838.67 2,838.67 2,838.67 2,838.67 6,262.27 2,838.67 22,998.67 2,838.67 11,262.27 269,822.80

Promotion expense

70

Conclusion Selling Expense

The selling expense of Product Box limited partnership is will be increase follow the marketing in each year. In each year have the promotion in famous festival, started in February first year have Angpao in Chinese New Year festival is the reward to the customer, In June give free the whipcord all month, In August send mother’s day card to the customer, In September give free the whipcord all month same June, In December send father’s day card to the customer and have gift voucher to the lucky customer only 10 person. Second year have new promotion to support old promotion in first year is give T-shirt to all customer in New Year festival January, free the cartoon tape in Valentine festival in February, free the cartoon tape in October, and used all promotion in each year. Until year five have the special promotion is give Fuk Luk Sau in Chinese New Year for only 20 customers who has most order in five year ago. All of promotion is to increase selling and to promote the limited partnership that our limited partnership is not only sale the product but we sale the service and caring of customer.

71

Chapter 4 : Investment Cost

4.1 Pre-Operating Cost

Pre-Operating Price(Bath) Commercial Registration

Fee 50.00

Registration fee 5,000.00 Telephone register fee 0.00 Internet register fee 0.00

Total 5,050.00

- Commercial Registration Fee: Paper Box Limited Partnership is perform act as New commercial registration.

- Registration fee: Paper Box Limited Partnership registrar the partnerships that fund of partnerships are totally more than 5,000,000 bath.

- Telephone registers fee: Installation fee for free from promotion of True. Internet registers fee: Entrance Fee, Modem Installation service fee that for free from promotion of True.

Source: http://www.dbd.go.th/mainsite/index.php?id=101&L=

72

4.2 Investment Cost

Land/Building Cost

The product box company buy the commercial building at Bang Bor, Samutprakarn to be the office, unit area equal 18 square yard or 72 square meters. The price of commercial building is 3,750,000 Baht per month and the company buy in first year. The owner have office equipment to tenant.

Machine/Equipments/Tools

TATA Xenon Giant Heavy Duty CNG Plus

Order ; 1 cars , Price 569,000/pickup.

Source : http://www.thaihometown.com/buildings/20512

73

Equipments/Tools

Item Detail Amount Price Per Unit

Total Price

Meeting desk

- Rectangular conference table 240cm. - Size 240x120x75 CM

1 5720 5,720

Meeting chairs

- PVC from Msc-Furniture - Size 46x48x90 CM

10 890 8,900

Office desk

- 2 drawer, version MM 120 B-BE/BK - Size 120x60x57cm

6 2950 17,700

Office chairs

- Version SA 46, - Color black - Size 53 (W) x64 (D) x80 (H) cm

6 980 5,880

Sofa (set)

- Sofa set version BB01 free coffee table

1 4500 4,500

File cabinet

- Top; Thickness 25 mm. Melamine coat -Size 80x40x157

1 2100 2,100

File cabinet

- Top; Thickness 25 mm. Melamine coat -Size 80x40x157

2 2600 5,200

Dining table set

- Size 90x90x75cm

Table:1 Chair:4

Table:1900 Chair:330

3,220

74

Item Detail Amount Price Per Unit

Total Price

Water dispenser

- Water dispenser Sharp, - Version SB-29 4,700 Baht

1 4,700 4,700

Refrigerator

- Refrigerator Mitsubishi, - Version MR-18DA 6.4Q

1 6,250 6,250

Computer - All-in-one Lenovo Idea Centre C240 (57312294)

6 10,260 61,560

Printer Canon ALL IN ONE LASER PRINTER MF4550D

1 8,200 8,200

Telephone

- Reach CID502V2 - Show the contract number.

1 499 499

Telephone

- Reach DT-1000

2 299 598

Fax

- Fax SHARP FO-31 2 2999 5,998

TV

- Toshiba LCD TV 32 Inch - series

HV10T 1 7999 7,999

75

Item Detail Amount Price Per Unit

Total Price

Air Conditioner

- DAIKIN Wide Cool -(Code: FT-09 LV2S), 9,000 BTU

15,900

Air Conditioner

- DAIKIN

- (Code: FH30NUV2S), 30,000 BTU

2 37,200 74,400

Versatile table

- version : CS-GT45120 - Size : 120(W)x45(D)x75(H)

1 1,150 1,150

Rack

- Size 28 x 40 x 34.5 cm 1 190 190

Total - - - 256,564

76

4.4 Location

Location of Product Box Company is located near Teparak road, Samut Prakarn

Location of the product Box company is in Amphoe Bang Phli, Samut Prakan. The building located on Teparak road. Left hand side is near Soi Bangpla 23 and Su Lao Bangpla School. Right hand side is near Soi Bangpla 21.

ถนน เทพารกษ

Soi Bangpla 12

Soi Bangpla 14

Soi Bangpla 21 Soi Bangpla 23

Su Lao Bangpla school

Bic C-Bangphli

Industrial Estate - Bangphli

77

4.5 Facility Layout

Facility Layout: The building is 2 boxes with 3 floors. It has area 8 x 20 x 3 meters in each floor. First floor is the advertising room, warehouse, and toilet. Second floor is an office zone have the room for an accountant, marketing, manager, meeting room, pantry zone and toilet. Third floor is a multi - purpose room.

First floor: At the front is garage for the customer and for domestic transportation. On the brown floor (4x8 meter) is the advertise rooms for customer contact with the organization and the gray area is warehoused for stock the product that the customer can visit to see our product. And toilet size is 3x2 meter in the right corner.

78

Second floor: Behind stair is the office zone having room for manager, accountant, marketing, and seller room (3x3 meter in each room, except manager room is 3x4 meter). On the right side is pantry zone having refrigerator, water dispenser and dining table set. And toilet size is 3x2 meter at the right corner of the floor.

Third floor: Step For this floor is the multi-purpose room to store the product.

79

4.6 Depreciation of equipment and tools

No. Item Amount Price per unit

Total price

Depreciation(years) Depreciation expense(per year)

Depreciation expense(per month)

1 Meeting desk 1 5,720 5,720 5 1144.00 95.33

2 Meeting chairs 10 890 8,900 5 1780.00 148.33

3 Office desk 6 2,950 17,700 5 3540.00 295.00

4 Office chairs 6 980 5,880 3 1960.00 163.33

5 Sofa (set) 1 4,500 4,500 5 900.00 75.00

6 File cabinet 1 2,100 2,100 5 420.00 35.00

7 File cabinet(2) 2 2,600 5,200 5 1040.00 86.67

9 Dining table set(table) 1 1,900 1,900 5 380.00 31.67

Dining table set(chair) 4 330 1,320 3 440.00 36.67

10 Water dispenser 1 4,700 4,700 5 940.00 78.33

11 Refrigerator 1 6,250 6,250 8 781.25 65.10

12 Computer 6 10,260 61,560 3 20520.00 1710.00

13 Printer 1 8,200 8,200 4 2050.00 170.83

14 Telephone(CID502V2) 1 499 499 5 99.80 8.32

15 Telephone(DT-1000) 2 299 598 5 119.60 9.97

16 Fax SHARP FO-31 2 2,999 5,998 5 1199.60 99.97

17 TV 1 7,999 7,999 5 1599.80 133.32

18 Air Conditioner (Small size)

2 15,900 31,800 10 3180.00 265.00

19 Air Conditioner (Medium size)

2 37,200 74,400 10 7440.00 620.00

20 Fire Extinguisher 4 690 2,600 5 520.00 43.33

21 Fire Alarm 2 490 980 5 196.00 16.33

22 Automatic Energy Light 2 890 1,780 5 356.00 29.67

23 Private Branch Exchange 1 3,000 3,000 10 300.00 25.00

24 Versatile table 1 1,150 1,150 5 230.00 19.17

25 Rack 1 190 190 5 38.00 3.17

Total 51174.05 4,265

80

Depreciation of building

Building : 3,750,000

- Depreciation of building : 20 years

Depreciation of Car

Building : 569,000

- Depreciation of Car : 5 years

First year

Depreciation; 187,500 Baht

Building Value; 3,562,500 Baht

Second year

Depreciation; 187,500 Baht

Accumulate Depreciation; 375,000 Baht

Building Value; 3,375,000 Baht

Third year

Depreciation; 187,500 Baht

Accumulate Depreciation; 562,500 Baht

Building Value; 3,000,000 Baht

Forth year

Depreciation; 187,500 Baht

Accumulate Depreciation; 750,000 Baht

Building Value; 2,437,500 Baht

Fifth year

Depreciation; 187,500 Baht

Accumulate Depreciation; 937,500 Baht

Building Value; 1,687,500 Baht

Second year

Depreciation; 113,800 Baht

Accumulate Depreciation; 227,600 Baht

Building Value; 341,400 Baht

Forth year

Depreciation; 113,800 Baht

Accumulate Depreciation; 386200 Baht

Building Value; 113,800 Baht

First year

Depreciation; 113,800 Baht

Building Value; 455,200 Baht

Third year

Depreciation; 113,800 Baht

Accumulate Depreciation; 272,400Baht

Building Value; 227,600 Baht

Fifth year

Depreciation; 113,800 Baht

Accumulate Depreciation;500,000 Baht

Building Value; 0 Baht

81

Depreciation Expense

Year 1 : Accumulate depreciation expense

No. Item Amount Total price Depreciation(annually) Accumulate depreciation Salvage value1 Meeting desk 1 5,720 1,144 1,144 4,5762 Meeting chairs 10 8,900 1,780 1,780 7,1203 Office desk 6 17,700 3,540 3,540 14,1604 Office chairs 6 5,880 1,960 1,960 3,9205 Sofa (set) 1 4,500 900 900 3,6006 File cabinet 1 2,100 420 420 1,6807 File cabinet(2) 2 5,200 1,040 1,040 4,1608 Dining table set(table) 1 1,900 380 380 1,5209 Dining table set(chair) 4 1,320 440 440 880

10 Water dispenser 1 4,700 940 940 3,76011 Refrigerator 1 6,250 781.25 781.25 5,46912 Computer 6 61,560 20,520 20,520 41,04013 Printer 1 8,200 2050 2,050 6,15014 Telephone(CID502V2) 1 499 99.8 99.8 39915 Telephone(DT-1000) 2 598 119.6 119.6 47816 Fax SHARP FO-31 2 5,998 1,199.60 1,199.60 4,79817 TV 1 7,999 1,599.80 1,599.80 6,39918 Air Conditioner (Small size) 2 31,800 3,180 3,180 28,62019 Air Conditioner (Medium size) 2 74,400 7,440 7,440 66,96024 Versatile table 1 1,150 230 230 92025 Rack 1 190 38 38 152

Total 49,802 49,802 206,762

No. Item Amount Total price Jan. Feb. Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total1.00 Meeting de 1.00 5,720.00 95.33 95.33 95.33 95.33 95.33 95.33 95.33 95.33 95.33 95.33 95.33 95.33 1,144.00 2.00 Meeting ch 10.00 8,900.00 148.33 148.33 148.33 148.33 148.33 148.33 148.33 148.33 148.33 148.33 148.33 148.33 1,780.00 3.00 Office desk 6.00 17,700.00 295.00 295.00 295.00 295.00 295.00 295.00 295.00 295.00 295.00 295.00 295.00 295.00 3,540.00 4.00 Office chai 6.00 5,880.00 163.33 163.33 163.33 163.33 163.33 163.33 163.33 163.33 163.33 163.33 163.33 163.33 1,960.00 5.00 Sofa (set) 1.00 4,500.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 900.00 6.00 File cabinet 1.00 2,100.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 420.00 7.00 File cabinet 2.00 5,200.00 86.67 86.67 86.67 86.67 86.67 86.67 86.67 86.67 86.67 86.67 86.67 86.67 1,040.00 9.00 Dining table 1.00 1,900.00 31.67 31.67 31.67 31.67 31.67 31.67 31.67 31.67 31.67 31.67 31.67 31.67 380.00

Dining table 4.00 1,320.00 36.67 36.67 36.67 36.67 36.67 36.67 36.67 36.67 36.67 36.67 36.67 36.67 440.00 10.00 Water disp 1.00 4,700.00 78.33 78.33 78.33 78.33 78.33 78.33 78.33 78.33 78.33 78.33 78.33 78.33 940.00 11.00 Refrigerato 1.00 6,250.00 65.10 65.10 65.10 65.10 65.10 65.10 65.10 65.10 65.10 65.10 65.10 65.10 781.25 12.00 Computer 6.00 61,560.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 1,710.00 20,520.00 13.00 Printer 1.00 8,200.00 170.83 170.83 170.83 170.83 170.83 170.83 170.83 170.83 170.83 170.83 170.83 170.83 2,050.00 14.00 Telephone( 1.00 499.00 8.32 8.32 8.32 8.32 8.32 8.32 8.32 8.32 8.32 8.32 8.32 8.32 99.80 15.00 Telephone( 2.00 598.00 9.97 9.97 9.97 9.97 9.97 9.97 9.97 9.97 9.97 9.97 9.97 9.97 119.60 16.00 Fax SHAR 2.00 5,998.00 99.97 99.97 99.97 99.97 99.97 99.97 99.97 99.97 99.97 99.97 99.97 99.97 1,199.60 17.00 TV 1.00 7,999.00 133.32 133.32 133.32 133.32 133.32 133.32 133.32 133.32 133.32 133.32 133.32 133.32 1,599.80 18.00 Air Conditi 2.00 31,800.00 265.00 265.00 265.00 265.00 265.00 265.00 265.00 265.00 265.00 265.00 265.00 265.00 3,180.00 19.00 Air Conditi 2.00 74,400.00 620.00 620.00 620.00 620.00 620.00 620.00 620.00 620.00 620.00 620.00 620.00 620.00 7,440.00 20.00 Fire Exting 4.00 2,600.00 43.33 43.33 43.33 43.33 43.33 43.33 43.33 43.33 43.33 43.33 43.33 43.33 520.00 21.00 Fire Alarm 2.00 980.00 16.33 16.33 16.33 16.33 16.33 16.33 16.33 16.33 16.33 16.33 16.33 16.33 196.00 22.00 Automatic 2.00 1,780.00 29.67 29.67 29.67 29.67 29.67 29.67 29.67 29.67 29.67 29.67 29.67 29.67 356.00 23.00 Private Bra 1.00 3,000.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 300.00 24.00 Versatile ta 1.00 1,150.00 19.17 19.17 19.17 19.17 19.17 19.17 19.17 19.17 19.17 19.17 19.17 19.17 230.00 25.00 Rack 1.00 190.00 3.17 3.17 3.17 3.17 3.17 3.17 3.17 3.17 3.17 3.17 3.17 3.17 38.00

Total 51,174.05

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Year 2 : Accumulate depreciation expense

Year 3 : Accumulate depreciation expense

No. Item Amount Total price Depreciation(annually) Accumulate depreciation Salvage value1 Meeting desk 1 5,720 1,144 2,288 3,4322 Meeting chairs 10 8,900 1,780 3,560 5,3403 Office desk 6 17,700 3,540 7,080 10,6204 Office chairs 6 5,880 1,960 3,920 1,9605 Sofa (set) 1 4,500 900 1,800 2,7006 File cabinet 1 2,100 420 840 1,2607 File cabinet(2) 2 5,200 1,040 2,080 3,1208 Dining table set(table) 1 1,900 380 760 1,1409 Dining table set(chair) 4 1,320 440 880 440

10 Water dispenser 1 4,700 940 1,880 2,82011 Refrigerator 1 6,250 781.25 1,563 4,68812 Computer 6 61,560 20,520 41,040 20,52013 Printer 1 8,200 2050 4,100 4,10014 Telephone(CID502V2) 1 499 99.8 200 29915 Telephone(DT-1000) 2 598 119.6 239 35916 Fax SHARP FO-31 2 5,998 1,199.60 2,399 3,59917 TV 1 7,999 1,599.80 3,200 4,79918 Air Conditioner (Small size) 2 31,800 3,180 6,360 25,44019 Air Conditioner (Medium size) 2 74,400 7,440 14,880 59,52024 Versatile table 1 1,150 230 460 69025 Rack 1 190 38 76 114

Total 49,802 99,604 156,960

No. Item Amount Total price Depreciation(annually) Accumulate depreciation Salvage value1 Meeting desk 1 5,720 1,144 3,432 2,2882 Meeting chairs 10 8,900 1,780 5,340 3,5603 Office desk 6 17,700 3,540 10,620 7,0804 Office chairs 6 5,880 1,960 5,880 05 Sofa (set) 1 4,500 900 2,700 1,8006 File cabinet 1 2,100 420 1,260 8407 File cabinet(2) 2 5,200 1,040 3,120 2,0808 Dining table set(table) 1 1,900 380 1,140 7609 Dining table set(chair) 4 1,320 440 1,320 0

10 Water dispenser 1 4,700 940 2,820 1,88011 Refrigerator 1 6,250 781.25 2,344 3,90612 Computer 6 61,560 20,520 61,560 013 Printer 1 8,200 2050 6,150 2,05014 Telephone(CID502V2) 1 499 99.8 299 20015 Telephone(DT-1000) 2 598 119.6 359 23916 Fax SHARP FO-31 2 5,998 1,199.60 3,599 2,39917 TV 1 7,999 1,599.80 4,799 3,20018 Air Conditioner (Small size) 2 31,800 3,180 9,540 22,26019 Air Conditioner (Medium size) 2 74,400 7,440 22,320 52,08024 Versatile table 1 1,150 230 690 46025 Rack 1 190 38 114 76

Total 49,802 149,406 107,158

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Year 4 : Accumulate depreciation expense

Year 5 : Accumulate depreciation on expense

No. Item Amount Total price Depreciation(annually) Accumulate depreciation Salvage value1 Meeting desk 1 5,720 1,144 4,576 1,1442 Meeting chairs 10 8,900 1,780 7,120 1,7803 Office desk 6 17,700 3,540 14,160 3,5404 Office chairs 6 5,880 1,960 0 05 Sofa (set) 1 4,500 900 3,600 9006 File cabinet 1 2,100 420 1,680 4207 File cabinet(2) 2 5,200 1,040 4,160 1,0408 Dining table set(table) 1 1,900 380 1,520 3809 Dining table set(chair) 4 1,320 440 0 0

10 Water dispenser 1 4,700 940 3,760 94011 Refrigerator 1 6,250 781.25 3,125 3,12512 Computer 6 61,560 20,520 0 013 Printer 1 8,200 2,050 8,200 014 Telephone(CID502V2) 1 499 99.8 399 10015 Telephone(DT-1000) 2 598 119.6 478 12016 Fax SHARP FO-31 2 5,998 1,199.60 4,798 1,20017 TV 1 7,999 1,599.80 6,399 1,60018 Air Conditioner (Small size) 2 31,800 3,180 12,720 19,08019 Air Conditioner (Medium size) 2 74,400 7,440 29,760 44,64024 Versatile table 1 1,150 230 920 23025 Rack 1 190 38 152 38

Total 49,802 107,528 80,276

No. Item Amount Total price Depreciation(annually) Accumulate depreciation Salvage value1 Meeting desk 1 5,720 1,144 5720 02 Meeting chairs 10 8,900 1,780 8900 03 Office desk 6 17,700 3,540 17700 04 Office chairs 6 5,880 1,960 0 05 Sofa (set) 1 4,500 900 4500 06 File cabinet 1 2,100 420 2100 07 File cabinet(2) 2 5,200 1,040 5200 08 Dining table set(table) 1 1,900 380 1900 09 Dining table set(chair) 4 1,320 440 0 0

10 Water dispenser 1 4,700 940 4700 011 Refrigerator 1 6,250 781.25 3906.25 2,34412 Computer 6 61,560 20520 0 013 Printer 1 8,200 2050 0 014 Telephone(CID502V2) 1 499 99.8 499 015 Telephone(DT-1000) 2 598 119.6 598 016 Fax SHARP FO-31 2 5,998 1,199.60 5998 017 TV 1 7,999 1,599.80 7999 018 Air Conditioner (Small size) 2 31,800 3,180 15900 15,90019 Air Conditioner (Medium size) 2 74,400 7,440 37200 37,20024 Versatile table 1 1,150 230 1150 025 Rack 1 190 38 190 0

Total 49,802 124160.25 55,444

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Chapter 5: Production and Operations Analysis 5.1 Product Characteristics

5.1.1) Ready-Made Type 0

Size : 11 x 17 x 6 cm.

Weight : 50 g.

Price : 4.7 Bath.

5.1.2) Ready-Made Type A

Size : 14 x 20 x 6 cm.

Weight : 60 g.

Price : 5.7 Bath.

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5.1.3) Ready-Made Type B

Size : 17 x 25 x 9 cm.

Weight : 124 g.

Price : 7.7 Bath.

5.1.4) Ready-Made Type C

Size : 20 x 30 x 11 cm.

Weight : 190 g.

Price : 10.7 Bath.

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5.1.5) Ready-Made Type D

Size : 22 x 35 x 14 cm.

Weight : 251 g.

Price : 14.7 Bath.

5.1.6) Ready-Made Type E

Size : 24 x 40 x 17 cm.

Weight : 322 g.

Price : 19.7 Bath.

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5.1.7) Ready-Made Type F

Size : 30 x 45 x 20 cm.

Weight : 410 g.

Price : 22 Bath.

Source : http://www.xn--12caaab5a0g3dvante5cxc8byaj2kc10a.com

5.1.8) Normal Carton No.1

Size : 14 x 20 x 6 cm.

Weight : 60 g.

Price : 4.3 Bath.

88

5.1.9) Normal Carton No.2

Size : 17 x 25 x 9 cm.

Weight : 100 g.

Price : 5.7 Bath.

5.1.10) Normal Carton No.3

Size : 20 x 30 x 11 cm.

Weight : 150 g.

Price : 7.7 Bath.

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5.1.11) Normal Carton No.4

Size : 22 x 35 x 14 cm.

Weight : 190 g.

Price : 10.7 Bath.

5.1.12) Normal Carton No.5

Size : 24 x 40 x 17 cm.

Weight : 250 g.

Price : 12.7 Bath.

90

5.1.13) Normal Carton No.6

Size : 30 x 45 x 20 cm.

Weight : 350 g.

Price : 17.7 Bath.

Source : http://www.xn--12caaab5a0g3dvante5cxc8byaj2kc10a.com

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5.2 Specification, Feathers, Dimension, Life Time, etc.

Corrugated Box, We supply many grades of corrugated board to fully respond to consumer's demand.

The dimensions for corrugated boxes are always stated in the sequence of length (L) x Breadth (B) x Height (H) or length (L) x Width (W) x Height (H).

Type of Corrugated box.

- Regular Slotted Container (RSC)

Popular to use more another type because the Manufacture use only one paper to less material and have cover open-close in equal by cover outside. It will link at center from length of cover. So it is easy to transport product because the box is flatly and can open immediately. Then it is easy to contain and use. RSC box can edit to transport in product almost all kinds of product or use to improve strength to protect the product.

Application: Widely used for various types of packaging such as computer, canned food, consumer goods, electrical appliances and etc.

Source: http://www.sarnti.co.th/sarnti_paper/content_desc.php?cmd=service&id=3

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- Folder Type Boxes (Die-cut)

Design style has a variety of styles and can assemble easy to use by without placeholder or other to hold.

Application: It's easy to use products category containing such as electronic, components, electronic equipment, toys, fresh fruit and etc.

Source: http://www.sarnti.co.th/sarnti_paper/content_desc.php?cmd=service&id=3

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Type of paper

KI (bright brown) has a nature color of paper pulp, it strength but lowest than grade

KA Application: Widely used for all kinds of products such as consumer goods (beverages, canned foods, and snacks), furniture, leather, etc.

KW (White) with its white surface and high smoothness. KW is ideal to produce both strong and high print-quality packaging, enhancing the value and aesthetic of the products. Application: Widely used as packaging for electrical appliances, pharmaceutical products, medical equipment, exported frozen foods, dairy products, beverages and fresh produce.

Source: http://msrpaperbox.com/board/article

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Standard of Corrugated paper

1) Basis weight

Standard weight relate with moisture in paper. It is important to the production process because standard weight has effect to production cost. the paper that has heavy weight and length of paper will decrease. So it will reduce the unit of paper in production process, but still have qualification same with the paper that has standard weight.

Instruments to test is Analytical balance and used standard ASTM D 646, TAPPI T410. ISO3039.

2) Moisture content

It is used for testing with corrugated sheets. This value will show liquid using in the paper which related to strength of paper. Packaging should not pack frozen food, fruit, and vegetable because if paper has more moisture, the strength of box will decrease.

Method to test called “Cobbs Test”, Instruments to test is Cobbs sizing tester and used standard ISO 535, ASTM D 2045, TAPPI T 411.

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3) Ring crush resistance

Quantity ring crush resistance of corrugated paper can be calculated to find the quantity pressure resistance of corrugated box.

Instruments to test is “Crush tester”, “Ring crush holder” and used standard TAPPI T 818 , Thai Industrial Standards (TIS) 321.

4) Edge-wise crush resistance

This test is very important for corrugated paper because the quantity show about strength of corrugated sheets, which related directly with strength in stacking of corrugated box.

Instruments to test is “Crush tester” and used standard ISO 3037 , TAPPI T 811 , TAPPI T 823 , JIS-0410.

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5) Bursting strength

To test bursting strength of paperboard be testing for control production of corrugated box single wall. Testing in Thai Industrial Standards 550 will used bursting strength of corrugated paper to define size of box and weight of packing for transportation by this corrugated box will have quantity of bursting strength as required.

In addition bursting strength is important feature for the product that caused voltage from inside to outside be small area of box, such as product that look like a cube, bars or etc. There are necessary to use corrugated paper with a high quantity of bursting strength because impinge between product with packaging, it will show that ability to support the weight of product when transportation.

Instruments to test is “Mullen tester” and used standard ISO 2759, ASTM D 774, TAPPI T 810, BS 3137, Thai Industrial Standards (TIS) 550.

6) Compression strength

The quantity of compression strength corrugated box can be calculated to find a real number of layers in an overlay of box that packing. If the quantity of compression strength corrugated box will decrease caused quantity of moisture in air, the time to store, patterns in overlay of box, number of transportation, characteristics of the relocate and etc.

This feature is important in design and determine quality of corrugated box for suitable with product.

Instruments to test is “Compression tester” and used standard ASTM D 642 ,ISO 2872 , TAPPI T 804.

Source: http://www.pt-pack.com

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5.3 Service Process

First, customer order the products and make payment on PB Limited Partnership website or transfer the money at Banks, then the order will be in system of company. When the company receives the orders, we will checks stock in the inventory, if the products in inventory are enough, the company will send product to customer within two days, but if the product is not enough, the company will order product to supplier and when the company receive product we will send the products to customer within seven days. After we send the product to customer, we will post the number codes of deliver products, the date of send the product, the date of customer will receive the products and transportation companies that deliver the product to the customer on PB Limited partnership website. In case the customer in Samut Prakarn, when the company receives the orders, if the products are enough, we will deliver by pickup of company within one day, but if the products are not enough, we will order to supplies and deliver to customers when we receive the product. The customer can check the place that the products stay by use the number codes of deliver products to check the status of product on website of transportation companies. If the products do not deliver to customer, do not have post of number codes on website, have the problem about products or feedback to company, they can contact the company on website, at office or telephone number of company. When we receive the problem or feedback, we will solve problem and contact to customer as soon as possible.

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5.3 Operating Cost

Table 5.1

The equipment per month

Item Amount Price Per Unit/Baht

Pen 1 Pack 109 Pencil 1 Pack 59 Liquid paper 1 Pack 89 Staple r 1 Pack 486 A4 Paper 1 Pack 445 Coco 1 Pack 94 Coffee 1 Pack 311 Roll tissue 1 Pack 155 Broom 1 Pack 90 White board pen

1 Pack 75

Magic clean floor

5.2 Liter 172

Plastic mop 1 Pack 135 Drinking Water (20 Liter)

60 units

20*60

Lever arch file 4 Pack 269*4 Bin (19 gallon) 3 Unit 439*3 Total - 5,813

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* Utility cost come from on table 5.1

*Material cost come from sale volume

*Gasoline prices 11.50 Bath per kg.

Year1

*Put gasoline (NGV)8 times per month (1 car) : Average transport 150 K.M. per day. Include weigh of product : Distance of transport approximately50-60 K.M. per month.

Year2

*Put gasoline (NGV) 13 times per month (1 car) : Average transport 200 K.M. per day. Include weigh of product : Distance of transport approximately50-60 K.M. per month.

Year 3

*Put gasoline (NGV) 15 times per month (1 car) : Average transport 250 K.M. per day. Include weigh of product : Distance of transport approximately50-60 K.M. per month.

Year 4

***Put gasoline (NGV) 18 times per month (1 car) : Average transport 340 K.M. per day. Include weigh of product : Distance of transport approximately50-60 K.M. per month.

Year 5

***Put gasoline (NGV) 23 times per month (1 car) : Average transport 400 K.M. per day. Include weigh of product : Distance of transport approximately50-60 K.M. per month

Description Jan Feb March April May June July Aug Sep Oct Nov Dec Total

COGS 383,273.80 421,601.60 383,273.80 383,273.80 383,273.80 383,273.80 383,273.80 402,437.70 383,273.80 383,273.80 383,273.80 402,437.70 4,695,105.10

Gasoline 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 4,500 54,000

Utility 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 69,756

Total 393,586.80 431,914.6s 393,586.80 393,586.80 393,586.80 393,586.80 393,586.80 412,750.70 393,586.80 393,586.80 393,586.80 412,750.70 4,799,697.20

Description Jan Feb March April May June July Aug Sep Oct Nov Dec Total

COGS 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90

Gasoline 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 72,000

Utility 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 69,756

Total 454,494.40 475,574.90 433,414.10 433,414.10 433,414.10 433,414.10 433,414.10 454,494.40 433,414.10 433,414.10 433,414.10 454,494.40 5,306,370.90

Description Jan Feb March April May June July Aug Sep Oct Nov Dec Total

COGS 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,080

Gasoline 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 7,500 90,000

Utility 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 69,756

Total 500,262.40 523,450.60 477,074.90 477,074.90 477,074.90 477,074.90 477,074.90 500,262.40 477,074.90 477,074.90 477,074.90 500,262.40 5,840,836

Description Jan Feb March April May June July Aug Sep Oct Nov Dec Total

COGS 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187

Gasoline 10,200 10,200 10,200 10,200 10,200 10,200 10,200 10,200 10,200 10,200 10,200 10,200 122,400

Utility 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 69,756

Total 551,657.90 577,164.50 526,150.60 526,150.60 526,150.60 526,150.60 526,150.60 551,657.90 526,150.60 526,150.60 526,150.60 551,657.90 6,441,343

Description Jan Feb March April May June July Aug Sep Oct Nov Dec Total

COGS 589,208.90 617,267 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70

Gasoline 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 144,000

Utility 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 5,813 69,756

Total 607,021.90 635,080 578,964.50 578,964.50 578,964.50 578,964.50 578,964.50 607,021.90 578,964.50 578,964.50 578,964.50 607,021.90 7,087,861.70

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5.4 Logistic management

Logistics is the planning, execution, and control of the movement / placement of

goods and / or people, and the related supporting activities, all within a system designed to

achieve specific objectives (Transfreight Inc).

Information:

First, customer order the product from website and make payment. Second, company

will send the product to customer by transportation company. Next, company will post code

of transport to the customer on website and the date that product will arrive to customer .

Moreover if customers order the product that company has in-stock, then the company will

send product to customer immediately.

Customer

Transportation Company

101

We have two type of logistic management; Supplier and Customers:

From Supplier:

delivery

Product Box Company

It is the process of transportation production from supplier to Product Box Company. We will order from suppliers which are lots of unit, so most suppliers will have promotion deliver for free, if we order big lots. Supplier will deliver the product and take lead times about 7 - 10 days, it’s depend on the unit of production and types of production that we order.

102

To Customers:

delivery

Customer Product Box Company

It is the process of transportation for customers who buy the product box from

company, and we’ll serve the product to customers any place that they want.

Product Box company has pickup trucks.

TATA Xenon Giant Heavy Duty CNG Plus 569,000 Baht

We use this car for shipping the product to customers and for free within 50 km. If the

customer is order from other province we’ll use Private transport.

We have two cars for transportation, which cost of each car 569,000 Baht and we will

have Depreciation cost each car 113,800 Baht per year.

*Note transportation cost for free to customers only 50km, after that we’ll charge.

103

We have services for delivery customers who have outside Samutprakran by Private transportation. Moreover we have type to payment; they are Collect on Delivery (COD).

Example of private transportation

• RFE Express • NTC Express • HWL Company • KWT Transport

This table shows carriages rates (approximately) and carriages rates will be change vary each company.

Bangkok and Perimeter

Termination

Weight 1-5 kg not exceeding (Baht)

More than 5 kg approximately/kg

(Baht)

Outside the

prefecture amount (Baht)

Bangkok 100 4 - Nonthaburi 130 4 - Pathum Thani 130 4 - Samut Prakan 130 4 -

Upper Central Provinces Sing Buri 120 4 200 Suphan Buri 100 4 200 Ayutthaya 100 4 200 Ang Thong 120 4 200 Saraburi 100 4 200 Uthai Thani 120 4 200 Chai Nat 120 5 200 Nakhon Sawan 120 4 200 Lop Buri 120 4 200 Nakhon Pathom 100 4 200 Ratchaburi 100 4 200 Samut Songkhram 100 4 200 Samut Sakhon 100 4 200 Kanchanaburi 120 5 200 Phetchaburi 100 4 200 Prachuap Khiri Khan

120 5 200

Chachoengsao 100 4 200 Chon Buri 100 4 200

104

Trad 120 5 200 Nakhon Nayok 100 4 200 Rayong 100 4 200 Chanthaburi 120 5 200 Prachin Buri 100 5 200 Sakaeo 120 6 200

Lower Central Provinces Nakhon Ratchasima 120 5 200 Surin 130 5 200 Buri Ram 130 5 200 Si Sa Ket 130 6 200 Ubon Ratchathani 130 6 200 Yasothon 130 6 200 Amnatcharoen 130 6 200 Chaiyaphum 120 5 200

Northeastern Provinces Khon Kaen 120 5 200 Maha Sarakham 130 5 200 Roi Et 130 5 200 Mukdahan 130 6 200 Kalasin 130 5 200 Nong Khai 130 6 200 Loei 130 6 200 Udon Thani 130 5 200 Nakhon Phanom 130 6 200 Sakon Nakhon 130 6 200 Nongbualamphu 130 5 200

Upper Northern Provinces Lampang 130 5 200 Lamphun 130 5 200 Tak 130 5 200 Nan 130 6 200 Phrae 130 6 200 Chiang Mai 130 5 200 Chiang Rai 140 6 200 Mae Hong Son 150 6 200

Lower Northern Provinces Phichit 130 5 200 Phitsanulok 130 5 200 Kamphaeng Phet 130 5 200

105

Source: http://www.9final.com/computer/faq_info.html?faqs_id=8&fcPath=9#12

Phetchabun 130 6 200 Sukhothai 130 5 200 Uttaradit 130 6 200

South Provinces Chumphon 130 5 200 Surat Thani 130 5 200 Nakhonsithammarat 140 6 200 Trang 140 7 200 Phuket 140 7 200 Phangnga 140 6 200 Krabi 140 6 200 Ranong 130 5 200 Phatthalung 140 7 200 Songkhla 140 7 200 Satun 150 7 200 Pattani 150 7 200 Yala 150 7 200 Narathiwat 150 7 200

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5.5 Facility Management Facility management provide in comfortable for customer that join in our company. We consideration in other facilities which services to customers.

- The Internet can serve relax for customer which many customer required it and we choose in free high-speed wireless (Wi-Fi).

- Computer, we choose All-in-one Lenovo Idea Centre C240 (57312294) in high-performance system that our company use and it made information to be faster and clearly.

- Telephone is important things for communication. The customer can easy to contact and get clear-information about other services.

- Printer, we choose in Canon ALL IN ONE LASER PRINTER MF4550D because the machine is working fine and high standard in scan and copy (26CPM SCAN).

- Fax machine, we choose in Fax Sharp FO-31 because we focus in transmission speed of 15 seconds per sheet.

- Air conditioners, we choose DAIKIN to serve a satisfy on customer in good climate at our company.

- We choose TATA Xenon Giant Heavy Duty CNG Plus for transportation because good standard, high quality for work, and fast shipping.

(Source: http://www.conditionswillchange.com/images/icons/Icon_FM_Solution.jpg)

107

Chapter 6 Administration Analysis

6.1 Facility Cost (Electricity, Telephone, Fax, etc )

Electricity per month

1.1 Normal Rate

Electricity (baht/unit)

Service (baht/month)

1.1.1 use electric energy not upper than 150 per mouth 8.19 5 units (0-5 units) 0 Next 10 units (6-15 units) 1.3576 Next 10 units (16-25 units) 1.5445 Next 10 units (26-35 units) 1.7968 Next 65 units (36-100 units) 2.1800 Next 50 units (101-150 units) 2.2734 Next 250 units (151-400 units) 2.7781 Next 400 units (401 units onwards) 2.9780 1.1.2 use electric energy upper than 150 per mouth 40.90 150 units (0-150 units) 1.8047 Next 250 units (151-400 units) 2.7781 More than 400 units

(401 units onwards) 2.9780

To calculate electricity expense

- Our company use 4,000 kilowatts for electricity - 150 Units x 1.8047 Baht = 270.71 - 250 Units x 2.7781 Baht = 694.53 - 400 Units x 2.9080 Baht = 1,191.2 - 4000 Units x 2.9780 Baht = 11,912 - 11,912 - 1,191.2 = 10,720.8 Baht - Service 40.90 Baht / Month - 40.90 + 10,720.8 = 10,761.7 - Tax 7% 753.32 - 10,761.7 + 753.32 = 11,515.02 - 11,515.02 baht per mouth

Source : http://www.eppo.go.th/power/pw-Rate-PEA.html

108

Water per month

We use 20 units per month *** Service 30 baht and VAT 7%

1. (20-11 = 9) 2. (9*20 = 180) 3.(180*7/100 = 12.6) 2. 4. (180+12.6+30) = 222.6

The use a water(cubic meter/month)

Units Government agencies and small business

Price Value Total Minimum water

Minimum 150 bath / month (9 cubic meter)

0-10 10 17.00 170.00 170.00 11-20 10 20.00 200.00 370.00 21-30 10 21.00 210.00 580.00 31-50 20 22.00 440.00 1,020.00 51-80 30 23.00 690.00 1,710.00 81-100 20 24.00 480.00 2,190.00 101-300 200 27.40 5,480.00 7,670.00 301-1,000 700 27.50 19,250.00 26,920.00 1,001-2,000 1,000 27.60 27,600.00 54,520.00 2,001-3,000 1,000 27.80 27,800.00 82,320.00 >3,000 28.00

Internet & Telephone bill

We choose promotion at 899 baht per month to get 15Mbps high speed internet both with phone 200 baht per month, to use in our company and it enough to use.

Source: http://www.pwa.co.th/service/tariff_rate.html

http://trueonline.truecorp.co.th/packagedetail/234/%E0%B8%9E%E0%B8%B4%E0%B9%80%E0%B8%A8%E0%B8%A9%E0%B9%80%E0%B8%8B%E0%B9%87%E0%B8%95%E0%B8%AA%E0%B8%B8%E0%B8%94%E0%B8%84%E0%B8%B8%E0%B9%89%E0%B8%A1_15_Mbps.%E0%B9%81%E0%B8%84%E0%B9%88_899_%E0%B8%9A%E0%B8%B2%E0%B8%97_%E0%B9%80%E0%B8%94%E0%B8%B7%E0%B8%AD%E0%B8%99_%E0%B8%8A%E0%B8%A1%E0%B8%9F%E0%B8%A3%E0%B8%B5%E0%B8%97%E0%B8%A3%E0%B8%B9%E0%B8%A7%E0%B8%B4%E0%B8%8A%E0%B8%B1%E0%B9%88%E0%B8%99%E0%B8%AA%E0%B9%8C_72_%E0%B8%8A%E0%B9%88%E0%B8%AD%E0%B8%87

Highest speed of download

Highest speed of upload

Monthly Fee Free Channel

109

Organization Chart

Manage

Job Qualification

1) Manager (1 Person) Qualifications

- Male/Female - The age over 35 years old or higher - Bachelor’s Degree in business administration or higher - Experience for work more than 3-5 years in job management

2) Operator (2 Persons)

Qualifications - Male/Female - Age 22 years old upper - Good relationship, Motivated, communication skill - Speak cleanly - Education advanced vocational school diploma

Manager

Accountant Webmaster Operator

Housekeeper Driver

Assistant driver

110

3) Accountant (1 Person) Qualifications

- Male/Female - Age 30 years old - Bachelor’s in business administration or Accounting - Experience for 5 years in this job

4) Webmaster (1 person)

Qualifications - Age 23-28 years old - Experience for 1 year - Bachelor of Engineering Program in Information and Communication Engineering - Can create website and work for website all the time

5) Driver (1 persons)

Qualifications - Male - Age 27 years old upper - Has a driver’s license - Can drive in long way - Experience for drive in 5 years

6) Assistant driver (1 person)

Qualifications - Male - Age 26 years old upper - Has a driver’s license - Can drive in long way by switch with driver - Experience for drive in 3 years

7) Housekeeper (1 persons)

Qualifications - Female - Age 20 years old upper - Can use all equipment of cleaning - Elaborate, honestly, diligent

111

6.2 Salary For Employees

Manager (1 Person) 28,000 baht

Operator (2 Person) 9,000 (2*9,000) 18,000 baht

Accountant (1 Person) 20,000 baht

Webmaster (1 person) 15,000 baht

Driver (1 person) 9,000 baht

Assistant driver (1 person) 7,000 baht

Housekeeper (1 person) 6,000 baht

Total salary expense per month 103,000 baht

Insurance for employee

For law in Thailand set the insurance for Thai employees and age begin in 15 years old not over 60 years old that the company will pay for insurance 5% but 5% are in the salary of employee in each person.

Manager (1 Person) 2,800 baht Operator (2 Person) 1,800 baht Accountant (1 Person) 2,000 baht Webmaster (1 Person 1,500 baht Driver (1 Person) 900 baht Assistant driver (1 person) 700 bath Housekeeper (1 person) 800 baht Total Insurance per month 10,500 baht

Source: http://www.sso.go.th/wpr/home.jsp?lang=th

112

Work schedule

Day/Time 08.00-09.00

09.00-10.00

10.00-11.00

11.00-12.00

12.00-13.00

13.00-14.00

14.00-15.00

15.00-16.00

Monday

Work Hours L

unch

/Bre

ak

Tim

e

Work Hours

Tuesday Wednesday Thursday Friday Saturday Sunday Weekend

Right and Mission of employees and employer under the Act. Labor edition 2541.

Time to work

- Not over 8 Hours per day and 48 hours per week. - Dangerous job follow ministerial regulations allow to work not over 7 hours per day

and 42 hours per week.

Time for brake

- In day to work, employer manage employee to have a time for brake not less than 1 hour per day at 5 hours of work.

- Employer and employee have agree together before, employee can brake not more than 1 hour but must brake 20 minute per time and not more 1 hour.

- In case of special job that must continue work or not expect job and it’s the job that cannot stop working, employer can have not time to brake for employee, if employee agrees with employer.

Holiday

Holiday weeks (Saturday and Sunday or whatever)

- Not less than 1 day per week and spaced not more than 6 days. - Employee has a right to get wage in holiday (except employee that work day-per-day,

per-hours or based on the results calculated by the unit). - Employer and employee will have agree to have a holiday weeks by their demand - Hotel job, Transport job, Forest job, faraway job (Fishing and Firefighter) or job

follow ministerial regulations, employer and employee will have agree before, to collect the holiday weeks and can have a holiday that employee want and not more than 4 weeks in continue.

- In case of holiday weeks not constants, employer must tell employee by make a book to announce in 7 day begin at the day that announce.

113

Traditional Holidays

- Not less than 13 days by include with May Day, if the holiday has matched with holiday weeks (Saturday and Sunday) must have substituted holiday in next work day.

- Employee can get wage in Holiday of tradition.

Annual Holidays

- Employee that works in 1 year can have an Annual holiday not less than 6 day work. - Employee can get wage in annual holiday. - Employee that works fully 1 year will have annual holidays by some time. - Employer is the person who set annual holidays and announce to employee that

already agreement with employer. - Employer and employee will have agree to collect or shift the annual holidays include

with another holidays.

Sick leave

- Employee has a right to get wage and can request a sick leave for 30 days per year.

Maternity leave

- If employee is female, the notice for maternity must be no later than 90 days and the employer must pay salary for maternity leave during leave day but not exceed 45 days.

Sterilization leave

- Employee has the right to sterilization leave but should be determined from the doctor and employee will get wage for that day.

Personal leave

- Employee has the right to personal leave but commitment necessary must relate to the regulation of business and the employee will not get wage for that day.

Military leave

- If employee is male, they have the right to military leave for check for military training or preparation test by military organization and the employee will get salary for military leave but not exceed 60 days per year.

Training leave

- Employee has the right to training leave for training skills or development of knowledge by ministerial regulations and the employee will not get wage for that day.

Source: http://www.thaifactory.com/Manage/Right.htm

114

Administrative expense rate for each year:

Year 1

Year 2

Administrative cost Year 1 (100%)

Administrative cost Year 2 (102%)

Administrative cost Year 3 (104%)

Administrative cost Year 4 (106%)

Administrative cost Year 5 (108%)

Year 1 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec TotalEmployees salary 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 103000.00 1236000.00Water expense 222.60 222.60 222.60 222.60 222.60 222.60 222.60 222.60 222.60 222.60 222.60 222.60 2671.20Insurance 5,150 5,150 5,150 5,150 5,150 5,150 5,150 5,150 5,150 5,150 5,150 5,150 61800.00Electricity expense 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 11515.02 138180.24Internet and Telephone bill expense 899.00 899.00 899.00 899.00 899.00 899.00 899.00 899.00 899.00 899.00 899.00 899.00 10788.00Total administrative 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 120786.62 1449439.44

Year 2 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec TotalEmployees salary 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 105060.00 1260720.00Water expense 227.05 227.05 227.05 227.05 227.05 227.05 227.05 227.05 227.05 227.05 227.05 227.05 2724.62Insurance 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 5253.00 63036.00Electricity expense 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 11745.32 140943.84Internet and Telephone bill expense 916.98 916.98 916.98 916.98 916.98 916.98 916.98 916.98 916.98 916.98 916.98 916.98 11003.76Total administrative 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 123202.35 1478428.23

115

Year 3

Year 4

Year 5

Conclusion:

Administration Analysis, include administration cost - Facility Cost (Electricity, Telephone, Fax, etc) and Salary. Electricity cost, our company use about 228.17 units, this number calculate from Normal Rate that small business will use. This company has internet (It is very important for online shop) we selects TRUE Company to setup internet and telephone, cost of internet and telephone are 899 Baht/month. Moreover salary fees, we have eight employee, and each employee have difference salary fees. In addition, we will increases salary fees about 2 % per years.

Year 3 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec TotalEmployees salary 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 107161.20 1285934.40Water expense 231.59 231.59 231.59 231.59 231.59 231.59 231.59 231.59 231.59 231.59 231.59 231.59 2779.12Insurance 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 5358.06 64296.72Electricity expense 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 11980.23 143762.72Internet and Telephone bill expense 935.32 935.32 935.32 935.32 935.32 935.32 935.32 935.32 935.32 935.32 935.32 935.32 11223.84Total administrative 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 1507996.79

Year 4 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec TotalEmployees salary 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 109304.42 1311653.09Water expense 236.22 236.22 236.22 236.22 236.22 236.22 236.22 236.22 236.22 236.22 236.22 236.22 2834.70Insurance 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 5465.22 65582.65Electricity expense 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 12219.83 146637.98Internet and Telephone bill expense 954.03 954.03 954.03 954.03 954.03 954.03 954.03 954.03 954.03 954.03 954.03 954.03 11448.31Total administrative 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 1538156.73

Year 5 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec TotalEmployees salary 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 111490.51 1337886.15Water expense 240.95 240.95 240.95 240.95 240.95 240.95 240.95 240.95 240.95 240.95 240.95 240.95 2891.39Insurance 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 5574.53 66894.31Electricity expense 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 12464.23 149570.74Internet and Telephone bill expense 973.11 973.11 973.11 973.11 973.11 973.11 973.11 973.11 973.11 973.11 973.11 973.11 11677.28Total administrative 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 130743.32 1568919.86

116

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of goods sold 383,273.80 421601.6 383273.8 383273.8 383273.8 383273.8 383273.8 402437.7 383273.8 383273.8 383273.8 402437.7 4,675,941.20Gross Profit 191,637.20 180,686.40 164,260.20 164,260.20 164,260.20 164,260.20 164,260.20 172,473.30 164,260.20 164,260.20 164,260.20 172,473.30 2,031,354.80Administrative Cost 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expense 82,466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122,380.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings before interest and taxes -40,989.52 23,059.68 11,633.48 11,633.48 11,633.48 11,633.48 11,633.48 18,456.58 11,633.48 11,633.48 11,633.48 13,456.58 107,051.16Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable income -40,989.52 23,059.68 11,633.48 11,633.48 11,633.48 11,633.48 11,633.48 18456.58 11,633.48 11,633.48 11,633.48 13456.58 107,051.16Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -40,989.52 23,059.68 11,633.48 11,633.48 11,633.48 11,633.48 11,633.48 18,456.58 11,633.48 11,633.48 11,633.48 13,456.58 107,051.16Dividend 0 0 0 0 0 0 0 0 0 0 0 0 32115.348Retain Earning -40,989.52 23,059.68 11,633.48 11,633.48 11,633.48 11,633.48 11,633.48 18,456.58 11,633.48 11,633.48 11,633.48 13,456.58 74,935.81

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of goods sold 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90Gross Profit 189,720.60 198,755.10 180,686.90 180,686.90 180,686.90 180,686.90 180,686.90 189,720.60 180,686.90 180,686.90 180,686.90 189,720.60 2,213,412.10Administrative Cost 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expense 118,490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202,300.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings before interest and taxes -81,355.75 18,374.75 25,554.55 25,554.55 25,554.55 25,554.55 25,554.55 31,894.25 25,554.55 5,394.55 25,554.55 26,894.25 180,083.90Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable income -81,355.75 18374.75 25,554.55 25554.55 25554.55 25554.55 25554.55 31,894.25 25554.55 5394.55 25554.55 26,894.25 180,083.90Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 27012.585Net income -81,355.75 18,374.75 25,554.55 25,554.55 25,554.55 25,554.55 25,554.55 31,894.25 25,554.55 5,394.55 25,554.55 26,894.25 153,071.32Dividend 0 0 0 0 0 0 0 0 0 0 0 0 45921.3945Retan earning -81,355.75 18,374.75 25,554.55 25,554.55 25,554.55 25,554.55 25,554.55 31,894.25 25,554.55 5,394.55 25,554.55 26,894.25 107,149.92

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of goods sold 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,081.00Gross Profit 208,692.60 218,630.40 198,755.10 198,755.10 198,755.10 198,755.10 198,755.10 208,692.60 198,755.10 198,755.10 198,755.10 208,692.60 2,434,749.00Administrative Cost 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expense 136,348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220,923.64Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings before interest and taxes -82,695.80 35,699.20 41,080.70 41,080.70 41,080.70 41,080.70 41,080.70 48,429.80 41,080.70 20,920.70 41,080.70 43,429.80 353,348.60Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable income -82695.8 35,699.20 41,080.70 41080.7 41080.7 41080.7 41080.7 48429.8 41080.7 20920.7 41080.7 43429.8 353348.6Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 53002.29Net income -82,695.80 35,699.20 41,080.70 41,080.70 41,080.70 41,080.70 41,080.70 48,429.80 41,080.70 20,920.70 41,080.70 43,429.80 300,346.31Dividend 0 0 0 0 0 0 0 0 0 0 0 0 90103.893Retan earning -82,695.80 35,699.20 41,080.70 41,080.70 41,080.70 41,080.70 41,080.70 48,429.80 41,080.70 20,920.70 41,080.70 43,429.80 210,242.42

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

Chapter 7: Financial Analysis

- Financial Assumption for Business.

Income statement

Year 1

Year 2

Year 3

117

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of goods sold 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187.00Gross Profit 229,562.10 240,493.50 218,630.40 218,630.40 218,630.40 218,630.40 218,630.40 229,562.10 218,630.40 218,630.40 218,630.40 229,562.10 2,678,223.00Administrative Cost 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expense 154,499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240,711.29Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings before interest and taxes -82,490.88 54,942.27 58,345.67 58,345.67 58,345.67 58,345.67 58,345.67 66,409.12 58,345.67 38,185.67 58,345.67 61,409.12 546,874.99Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable income -82490.88 54942.27 58,345.67 58345.67 58345.67 58345.67 58345.67 66409.12 58,345.67 38,185.67 58345.67 61409.12 546874.99Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 82031.2485Net income -82,490.88 54,942.27 58,345.67 58,345.67 58,345.67 58,345.67 58,345.67 66,409.12 58,345.67 38,185.67 58,345.67 61,409.12 464,843.74Dividend 0 0 0 0 0 0 0 0 0 0 0 0 139453.1225Retan earning -82,490.88 54,942.27 58,345.67 58,345.67 58,345.67 58,345.67 58,345.67 66,409.12 58,345.67 38,185.67 58,345.67 61,409.12 325,390.62

Product Box Limited PartnershipsIncome StatementsAt the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of goods sold 589,208.90 617,267.00 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70Gross Profit 252,518.10 264,543.00 240,493.50 240,493.50 240,493.50 240,493.50 240,493.50 252,518.10 240,493.50 240,493.50 240,493.50 252,518.10 2,946,045.30Administrative Cost 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expense 178,312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269,822.84Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings before interest and taxes -85,911.42 73,309.08 77,537.58 77,537.58 77,537.58 77,537.58 77,537.58 86,138.58 77,537.58 57,377.58 77,537.58 81,138.58 754,815.46Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable income -85911.42 73309.08 77,537.58 77537.58 77537.58 77537.58 77537.58 86138.58 77537.58 57377.58 77537.58 81138.58 754815.46Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 113222.319Net income -85,911.42 73,309.08 77,537.58 77,537.58 77,537.58 77,537.58 77,537.58 86,138.58 77,537.58 57,377.58 77,537.58 81,138.58 641,593.14Dividend 0 0 0 0 0 0 0 0 0 0 0 0 192477.9423Retan earning -85,911.42 73,309.08 77,537.58 77,537.58 77,537.58 77,537.58 77,537.58 86,138.58 77,537.58 57,377.58 77,537.58 81,138.58 449,115.20

At the ended of year 5Income Statements

Product Box Limited Partnerships

Year 4

Year 5

118

Year 1 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC40,989.52-฿ 23,059.68฿ 11,633.48฿ 11,633.48฿ 11,633.48฿ 11,633.48฿ 11,633.48฿ 18,456.58฿ 11,633.48฿ 11,633.48฿ 11,633.48฿ 13,456.58฿

Adjusted Depriciation 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ Prepaid Car Insurance 6,600.00-฿ Inventories 51897 81745 22049 22049 22049 22049 22049 51897 22049 22049 22049 51897 Total Cash Flow from Operating Activities 49,447.00฿ 77,595.00฿ 17,899.00฿ 17,899.00฿ 17,899.00฿ 17,899.00฿ 17,899.00฿ 47,747.00฿ 17,899.00฿ 17,899.00฿ 17,899.00฿ 47,747.00฿

Vehicles 569,000.00-฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Total Cash Flow from Investing Activities 569,000.00-฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿

Received money from investor 8,000,000.00฿ Dividend Expense -฿ 6,917.90฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 5,536.97฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 4,036.97฿ Total Cash Flow from Financing Activities 8,000,000.00฿ 6,917.90฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 5,536.97฿ 3,490.04฿ 3,490.04฿ 3,490.04฿ 4,036.97฿

Cash flow at end of period 8,000,000.00฿ 20,291.78฿ 12,293.44฿ 12,293.44฿ 12,293.44฿ 12,293.44฿ 12,293.44฿ 17,069.61฿ 12,293.44฿ 12,293.44฿ 12,293.44฿ 13,569.61฿

Cash balance at start of period 8,000,000.00฿ 8,020,291.78฿ 8,032,585.21฿ 8,044,878.65฿ 8,057,172.08฿ 8,069,465.52฿ 8,081,758.96฿ 8,098,828.56฿ 8,111,122.00฿ 8,123,415.43฿ 8,135,708.87฿ Cash balance at end of period 8,000,000.00฿ 8,020,291.78฿ 8,032,585.21฿ 8,044,878.65฿ 8,057,172.08฿ 8,069,465.52฿ 8,081,758.96฿ 8,098,828.56฿ 8,111,122.00฿ 8,123,415.43฿ 8,135,708.87฿ 8,149,278.48฿

Net IncomeCash Flow from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Year 2 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC81,355.75-฿ 18,374.75฿ 21,041.97฿ 25,554.55฿ 25,554.55฿ 25,554.55฿ 25,554.55฿ 31,894.25฿ 25,554.55฿ 5,394.55฿ 25,554.55฿ 26,894.25฿

Adjusted Depriciation 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ Prepaid Car Insurance 6,600.00-฿ Inventories 57,087.00฿ 89,919.00฿ 24,254.00฿ 24,254.00฿ 24,254.00฿ 24,254.00฿ 24,254.00฿ 57,087.00฿ 24,254.00฿ 24,254.00฿ 24,254.00฿ 57,087.00฿ Total Cash Flow from Operating Activities 54,637.00฿ 85,769.00฿ 20,104.00฿ 20,104.00฿ 20,104.00฿ 20,104.00฿ 20,104.00฿ 52,937.00฿ 20,104.00฿ 20,104.00฿ 20,104.00฿ 52,937.00฿

Vehicles -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Total Cash Flow from Investing Activities -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿

Received money from investor -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Dividend Expense -฿ 5,512.43฿ 6,312.59฿ 7,666.37฿ 7,666.37฿ 7,666.37฿ 7,666.37฿ 9,568.28฿ 7,666.37฿ 1,618.37฿ 7,666.37฿ 8,068.28฿ Total Cash Flow from Financing Activities -฿ 5,512.43฿ 6,312.59฿ 7,666.37฿ 7,666.37฿ 7,666.37฿ 7,666.37฿ 9,568.28฿ 7,666.37฿ 1,618.37฿ 7,666.37฿ 8,068.28฿

Cash flow at end of period 77,205.75-฿ 17,012.33฿ 18,879.38฿ 22,038.19฿ 22,038.19฿ 22,038.19฿ 22,038.19฿ 26,475.98฿ 22,038.19฿ 7,926.19฿ 22,038.19฿ 22,975.98฿

Cash balance at start of period 8,149,278.48฿ 8,072,072.73฿ 8,089,085.05฿ 8,107,964.43฿ 8,130,002.62฿ 8,152,040.80฿ 8,174,078.99฿ 8,196,117.17฿ 8,222,593.14฿ 8,244,631.33฿ 8,252,557.51฿ 8,274,595.70฿ Cash balance at end of period 8,072,072.73฿ 8,089,085.05฿ 8,107,964.43฿ 8,130,002.62฿ 8,152,040.80฿ 8,174,078.99฿ 8,196,117.17฿ 8,222,593.14฿ 8,244,631.33฿ 8,252,557.51฿ 8,274,595.70฿ 8,297,571.67฿

Net IncomeCash Flow from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Year 3 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC82,695.80-฿ 35,699.20฿ 10,578.41฿ 41,080.70฿ 41,080.70฿ 41,080.70฿ 41,080.70฿ 48,429.80฿ 41,080.70฿ 20,920.70฿ 41,080.70฿ 43,429.80฿

Adjusted Depriciation 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ Prepaid Car Insurance 6,600.00-฿ Inventories 62,795.00฿ 98,911.00฿ 26,679.00฿ 26,679.00฿ 26,679.00฿ 26,679.00฿ 26,679.00฿ 62,795.00฿ 26,679.00฿ 26,679.00฿ 26,679.00฿ 62,795.00฿ Total Cash Flow from Operating Activities 60,345.00฿ 94,761.00฿ 22,529.00฿ 22,529.00฿ 22,529.00฿ 22,529.00฿ 22,529.00฿ 58,645.00฿ 22,529.00฿ 22,529.00฿ 22,529.00฿ 58,645.00฿

Vehicles -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Total Cash Flow from Investing Activities -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿

Received money from investor -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Dividend Expense -฿ 10,709.76฿ 3,173.52฿ 12,324.21฿ 12,324.21฿ 12,324.21฿ 12,324.21฿ 14,528.94฿ 12,324.21฿ 6,276.21฿ 12,324.21฿ 13,028.94฿ Total Cash Flow from Financing Activities 10,709.76฿ 3,173.52฿ 12,324.21฿ 12,324.21฿ 12,324.21฿ 12,324.21฿ 14,528.94฿ 12,324.21฿ 6,276.21฿ 12,324.21฿ 13,028.94฿

Cash flow at end of period 78,545.80-฿ 29,139.44฿ 11,554.89฿ 32,906.49฿ 32,906.49฿ 32,906.49฿ 32,906.49฿ 38,050.86฿ 32,906.49฿ 18,794.49฿ 32,906.49฿ 34,550.86฿

Cash balance at start of period 8,297,571.67฿ 8,219,025.87฿ 8,248,165.31฿ 8,259,720.20฿ 8,292,626.69฿ 8,325,533.18฿ 8,358,439.67฿ 8,391,346.16฿ 8,429,397.02฿ 8,462,303.51฿ 8,481,098.00฿ 8,514,004.49฿ Cash balance at end of period 8,219,025.87฿ 8,248,165.31฿ 8,259,720.20฿ 8,292,626.69฿ 8,325,533.18฿ 8,358,439.67฿ 8,391,346.16฿ 8,429,397.02฿ 8,462,303.51฿ 8,481,098.00฿ 8,514,004.49฿ 8,548,555.35฿

Cash Flow from Financing Activities

Net IncomeCash Flow from Operating Activities

Cash Flow from Investing Activities

Cash Flows Year 1

Year 2

Year 3

119

Year 4 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC82,490.88-฿ 54,942.27฿ 1,185.58-฿ 58,345.67฿ 58,345.67฿ 58,345.67฿ 58,345.67฿ 66,409.12฿ 58,345.67฿ 38,185.67฿ 58,345.67฿ 61,409.12฿

Adjusted Depriciation 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ Prepaid Car Insurance 6,600.00-฿ Inventories 69,075.00฿ 108,802.00฿ 29,347.00฿ 29,347.00฿ 29,347.00฿ 29,347.00฿ 29,347.00฿ 69,075.00฿ 29,347.00฿ 29,347.00฿ 29,347.00฿ 69,075.00฿ Total Cash Flow from Operating Activities 66,625.00฿ 104,652.00฿ 25,197.00฿ 25,197.00฿ 25,197.00฿ 25,197.00฿ 25,197.00฿ 64,925.00฿ 25,197.00฿ 25,197.00฿ 25,197.00฿ 64,925.00฿

Vehicles -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Total Cash Flow from Investing Activities -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿

Received money from investor -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Dividend Expense -฿ 16,482.68฿ -฿ 17,503.70฿ 17,503.70฿ 17,503.70฿ 17,503.70฿ 19,922.74฿ 17,503.70฿ 11,455.70฿ 17,503.70฿ 18,422.74฿ Total Cash Flow from Financing Activities 16,482.68฿ -฿ 17,503.70฿ 17,503.70฿ 17,503.70฿ 17,503.70฿ 19,922.74฿ 17,503.70฿ 11,455.70฿ 17,503.70฿ 18,422.74฿

Cash flow at end of period 78,340.88-฿ 42,609.59฿ 2,964.42฿ 44,991.97฿ 44,991.97฿ 44,991.97฿ 44,991.97฿ 50,636.38฿ 44,991.97฿ 30,879.97฿ 44,991.97฿ 47,136.38฿

Cash balance at start of period 8,548,555.35฿ 8,470,214.47฿ 8,512,824.06฿ 8,515,788.48฿ 8,560,780.45฿ 8,605,772.42฿ 8,650,764.39฿ 8,695,756.36฿ 8,746,392.74฿ 8,791,384.71฿ 8,822,264.68฿ 8,867,256.65฿ Cash balance at end of period 8,470,214.47฿ 8,512,824.06฿ 8,515,788.48฿ 8,560,780.45฿ 8,605,772.42฿ 8,650,764.39฿ 8,695,756.36฿ 8,746,392.74฿ 8,791,384.71฿ 8,822,264.68฿ 8,867,256.65฿ 8,914,393.03฿

Net IncomeCash Flow from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Year 5 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC85,911.42-฿ 73,309.08฿ 13,184.74-฿ 77,537.58฿ 77,537.58฿ 77,537.58฿ 77,537.58฿ 86,138.58฿ 77,537.58฿ 57,377.58฿ 77,537.58฿ 81,138.58฿

Adjusted Depriciation 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ 4,150.00฿ Prepaid Car Insurance 6,600.00-฿ Inventories 75,982.00฿ 119,683.00฿ 32,282.00฿ 32,282.00฿ 32,282.00฿ 32,282.00฿ 32,282.00฿ 75,982.00฿ 32,282.00฿ 32,282.00฿ 32,282.00฿ 75,982.00฿ Total Cash Flow from Operating Activities 73,532.00฿ 115,533.00฿ 28,132.00฿ 28,132.00฿ 28,132.00฿ 28,132.00฿ 28,132.00฿ 71,832.00฿ 28,132.00฿ 28,132.00฿ 28,132.00฿ 71,832.00฿

Vehicles -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Total Cash Flow from Investing Activities -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿

Received money from investor -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ -฿ Dividend Expense -฿ 21,992.72฿ -฿ 23,261.27฿ 23,261.27฿ 23,261.27฿ 23,261.27฿ 25,841.57฿ 23,261.27฿ 17,213.27฿ 23,261.27฿ 24,341.57฿ Total Cash Flow from Financing Activities 21,992.72฿ -฿ 23,261.27฿ 23,261.27฿ 23,261.27฿ 23,261.27฿ 25,841.57฿ 23,261.27฿ 17,213.27฿ 23,261.27฿ 24,341.57฿

Cash flow at end of period 81,761.42-฿ 55,466.36฿ 9,034.74-฿ 58,426.31฿ 58,426.31฿ 58,426.31฿ 58,426.31฿ 64,447.01฿ 58,426.31฿ 44,314.31฿ 58,426.31฿ 60,947.01฿

Cash balance at start of period 8,914,393.03฿ 8,832,631.61฿ 8,888,097.97฿ 8,879,063.23฿ 8,937,489.53฿ 8,995,915.84฿ 9,054,342.15฿ 9,112,768.45฿ 9,177,215.46฿ 9,235,641.76฿ 9,279,956.07฿ 9,338,382.38฿ Cash balance at end of period 8,832,631.61฿ 8,888,097.97฿ 8,879,063.23฿ 8,937,489.53฿ 8,995,915.84฿ 9,054,342.15฿ 9,112,768.45฿ 9,177,215.46฿ 9,235,641.76฿ 9,279,956.07฿ 9,338,382.38฿ 9,399,329.38฿

Net IncomeCash Flow from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Year 4

Year 5

120

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssetsCash 3,607,171.93 3,694,408.18 3,713,582.87 3,739,241.20 3,764,899.53 3,790,557.86 3,816,216.19 3,846,226.34 3,867,532.85 3,893,191.18 3,918,849.51 3,943,859.66 3,451,772.21

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car insurance 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumulate Depreciation of car insurance 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerrent asset 3,665,119 3,754,276 3,767,958 3,793,067 3,818,175 3,843,283 3,868,392 3,900,323 3,918,608 3,943,717 3,968,825 3,995,757 4,057,236Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumulate Depreciation of Building 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumulate Depreciation of Vehicles 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix asset 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,959,010 8,023,060 8,011,633 8,011,633 8,011,633 8,011,633 8,011,633 8,018,457 8,011,633 8,011,633 8,011,633 8,013,457 8,074,936

LiabilityCurrent liability

Owner's equity Investor capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain earning -40,989.52 23,059.68 11,633.48 11,633.48 11,633.48 11,633.48 11,633.48 18,456.58 11,633.48 11,633.48 11,633.48 13,456.58 74,935.81

Total liability and Owner's equity 7,959,010 8,023,060 8,011,633 8,011,633 8,011,633 8,011,633 8,011,633 8,018,457 8,011,633 8,011,633 8,011,633 8,013,457 8,074,936

Year 1

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssetsCash 3,862,916.01 3,985,586.43 4,023,861.38 4,049,519.71 4,075,178.04 4,100,836.37 4,126,494.70 4,155,774.32 4,177,811.36 4,183,309.69 4,229,128.02 4,253,407.64 3,724,739.96

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car insurance 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumulate Depreciation of car insurance 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerrent asset 3,926,053 4,050,891 4,083,180 4,108,288 4,133,396 4,158,505 4,183,613 4,215,061 4,233,830 4,238,778 4,284,046 4,310,494 4,390,750Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumulate Depreciation of Building 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumulate Depreciation of Vehicles 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix asset 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,918,644 8,018,375 8,025,555 8,025,555 8,025,555 8,025,555 8,025,555 8,031,894 8,025,555 8,005,395 8,025,555 8,026,894 8,107,150

LiabilityCurrent liability

Owner's equity Investor capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain earning -81,355.75 18,374.75 25,554.55 25,554.55 25,554.55 25,554.55 25,554.55 31,894.25 25,554.55 5,394.55 25,554.55 26,894.25 107,149.92

Total liability and Owner's equity 7,918,644 8,018,375 8,025,555 8,025,555 8,025,555 8,025,555 8,025,555 8,031,894 8,025,555 8,005,395 8,025,555 8,026,894 8,107,150

Blance SheetYear 2

Product Box Limited Partnerships

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssetsCash 4,157,167.31 4,298,230.39 4,335,250.71 4,360,909.04 4,386,567.37 4,412,225.70 4,437,884.03 4,467,901.22 4,489,200.69 4,494,699.02 4,540,517.35 4,565,534.54 3,647,431.46

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car insurance 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumulate Depreciation of car insurance 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerrent asset 4,226,013 4,369,516 4,400,006 4,425,114 4,450,222 4,475,331 4,500,439 4,532,896 4,550,656 4,555,604 4,600,872 4,628,330 4,380,042Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumulate Depreciation of Building 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumulate Depreciation of Vehicles 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix asset 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,917,304 8,035,699 8,041,081 8,041,081 8,041,081 8,041,081 8,041,081 8,048,430 8,041,081 8,020,921 8,041,081 8,043,430 8,210,242

LiabilityCurrent liability

Owner's equity Investor capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain earning -82,695.80 35,699.20 41,080.70 41,080.70 41,080.70 41,080.70 41,080.70 48,429.80 41,080.70 20,920.70 41,080.70 43,429.80 210,242.42

Total liability and Owner's equity 7,917,304 8,035,699 8,041,081 8,041,081 8,041,081 8,041,081 8,041,081 8,048,430 8,041,081 8,020,921 8,041,081 8,043,430 8,210,242

Product Box Limited PartnershipsBlance Sheet

Year 3

Balance Sheet Year1

Year 2

Year 3

121

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssetsCash 4,639,892.70 4,799,694.91 4,835,335.19 4,860,993.52 4,886,651.85 4,912,310.18 4,937,968.51 4,968,401.01 4,989,285.17 4,994,783.50 5,040,601.83 5,066,034.33 4,593,218.57

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car insurance 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumulate Depreciation of car insurance 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerrent asset 4,715,017 4,877,559 4,906,071 4,931,179 4,956,287 4,981,396 5,006,504 5,039,676 5,056,721 5,061,669 5,106,937 5,135,109 5,399,091Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumulate Depreciation of Building 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumulate Depreciation of Vehicles 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix asset 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,917,509 8,054,942 8,058,346 8,058,346 8,058,346 8,058,346 8,058,346 8,066,409 8,058,346 8,038,186 8,058,346 8,061,409 8,325,391

LiabilityCurrent liability

Owner's equity Investor capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain earning -82,490.88 54,942.27 58,345.67 58,345.67 58,345.67 58,345.67 58,345.67 66,409.12 58,345.67 38,185.67 58,345.67 61,409.12 325,390.62

Total liability and Owner's equity 7,917,509 8,054,942 8,058,346 8,058,346 8,058,346 8,058,346 8,058,346 8,066,409 8,058,346 8,038,186 8,058,346 8,061,409 8,325,391

Product Box Limited PartnershipsBlance Sheet

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssetsCash 5,305,865 5,487,125.32 5,524,248.55 5,549,906.88 5,575,565.21 5,601,223.54 5,626,881.87 5,657,523.00 5,678,198.53 5,683,696.86 5,729,515.19 5,755,156.32 5,312,655.94

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car insurance 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumulate Depreciation of car insurance 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerrent asset 5,387,897 5,572,226 5,601,563 5,626,671 5,651,779 5,676,888 5,701,996 5,735,705 5,752,213 5,757,161 5,802,429 5,831,139 6,199,115Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumulate Depreciation of Building 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumulate Depreciation of Vehicles 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix asset 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,073,309 8,077,538 8,077,538 8,077,538 8,077,538 8,077,538 8,086,139 8,077,538 8,057,378 8,077,538 8,081,139 8,449,115

LiabilityCurrent liability

Owner's equity Investor capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain earning -85,911.42 73,309.08 77,537.58 77,537.58 77,537.58 77,537.58 77,537.58 86,138.58 77,537.58 57,377.58 77,537.58 81,138.58 449,115.20

Total liability and Owner's equity 7,914,089 8,073,309 8,077,538 8,077,538 8,077,538 8,077,538 8,077,538 8,086,139 8,077,538 8,057,378 8,077,538 8,081,139 8,449,115

Product Box Limited PartnershipsBlance Sheet

Year 5

Year 4

Year 5

122

Financial Ratio

Liquidity Ratio Formula Year 1 Year 2 Year 3 Year 4 Year 50 3,656,380 5,850,208 7,349,324 8,541,304

7,312,760 8,044,036 8,848,440 9,733,284 10,706,6123,656,380 5,850,208 7,349,324 8,541,304 9,623,958

4,675,941.20 5,164,614.90 5,681,081.00 6,249,187.00 6,874,105.703,656,380 5,850,208 7,349,324 8,541,304 9,623,958

1.278844431 0.882808765 0.773007286 0.731643201 0.714270127

(Beginning Inventory+Ending Inventory) /2Avg. Inventory

COGS/(Avg. Inventory) Inventory Turnover

Profitability Ratio Formula Year 1 Year 2 Year 3 Year 4 Year 52,031,354.80 2,213,412.10 2,434,749.00 2,678,223.00 2,946,045.30

6,707,296 7,378,027 8,115,830 8,927,410 9,820,15130.29% 30.00% 30.00% 30.00% 30.00%

107,051.16 153,071.32 300,346.31 464,843.74 641,593.146,707,296 7,378,027 8,115,830 8,927,410 9,820,151

1.60% 2.07% 3.70% 5.21% 6.53%

107,051.16 153,071.32 300,346.31 464,843.74 641,593.148,074,936 8,107,150 8,210,242 8,325,391 8,449,115

1.33% 1.89% 3.66% 5.58% 7.59%

Gross Profit Margin

Net Profit Margin

Return on Equity Net Income/Total Equity

Net profit / Net Sales×

100

Gross Profit / Net Sales×

100

Efficiency Ratio Formula Year 1 Year 2 Year 3 Year 4 Year 5107,051.16 153,071.32 300,346.31 464,843.74 641,593.148,074,936 8,107,150 8,210,242 8,325,391 8,449,115

1.33% 1.89% 3.66% 5.58% 7.59%

6,707,296 7,378,027 8,115,830 8,927,410 9,820,1518,074,936 8,107,150 8,210,242 8,325,391 8,449,115

0.830631475 0.910064203 0.988500704 1.072311198 1.162269776

Net Income/Total Assets

Sales/Total Assets

Return on Assest

Total Assests Turnover

Total Assests Turn

Leverage Ratio Formula Year 1 Year 2 Year 3 Year 4 Year 5Total Liabilities 0% 0% 0% 0% 0%Total Assets

Debt/Equity Ratio

123

Chapter 8: Risk Management

Political Risk

In some policy of the government effect to our company and transportation companies that our company choose to deliver the product to customer. The policy of Natural Gas For Vehicle(NGV), The Ministry of Energy announce the price of NGV will increase. So, the transportation cost of company will increase that the profit will decrease.

Economic Risk

The contraction of economic indicate to consumer who buy the product of online shop, it effect to the amount of product will decrease. So, the company will get less profit, we must promote to customer for increase sale.

Social Risk

The risk of new company : The consumer who use paper box to packing their product, they may not change the supplier and difficult to find new company. Moreover the customer has low reliable, they will search the information and feedback of other customer before they decide to buy the product of the company. The way to reduce this problem, the company has registered in Department Of Business Development, The Ministry of commerce of Thailand (Chapter 3: Website information).

Technology Most of the online trading business will use technology and modern equipment. Technology will have developed continuously and quickly changing. It making the online trading business has risk of technological the obsolescence in the business of selling and has the risk for the Web browser.

Internet

Our company uses the Internet to sell products to customers and give the customers to convenience of shopping and customer can use internet to search for another company that have a good quality in product and lower price more than our company. The risk of the internet due to the internet has technology that change to fast and the risk of the Internet will be error or fail and another way is customer have a more to choice to optimal alternative .

Transport

Technology is an important part in the transport and logistics. The risk that changes in transportation technology that allows to fast delivery and high quality. If we do not improve the transportation to equal or better than the competition. It will provide customers purchase the product to other companies, the season of Thailand has changed so if the weather is bad, the transportation will stuck and delay and easy to have accident and the traffic jam can increase the time in transportation

Source: http://www.energy.go.th/# , http://www.prachachat.net/news_detail.php?newsid=1356941444&grpid=03&catid=04

124

Sale Risk

If sale decrease 5%

Year 1

Year 2

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 3,974.04 4,163.28 3,784.80 3,784.80 3,784.80 3,784.80 3,784.80 3,974.04 3,784.80 3,784.80 3,784.80 3,974.04 46,363.80 A 5.70 5,298.72 5,551.04 5,046.40 5,046.40 5,046.40 5,046.40 5,046.40 5,298.72 5,046.40 5,046.40 5,046.40 5,298.72 61,818.40 B 7.70 5,298.72 5,551.04 5,046.40 5,046.40 5,046.40 5,046.40 5,046.40 5,298.72 5,046.40 5,046.40 5,046.40 5,298.72 61,818.40 C 10.70 5,298.72 5,551.04 5,046.40 5,046.40 5,046.40 5,046.40 5,046.40 5,298.72 5,046.40 5,046.40 5,046.40 5,298.72 61,818.40 D 14.70 2,649.36 2,775.52 2,523.20 2,523.20 2,523.20 2,523.20 2,523.20 2,649.36 2,523.20 2,523.20 2,523.20 2,649.36 30,909.20 E 19.70 2,649.36 2,775.52 2,523.20 2,523.20 2,523.20 2,523.20 2,523.20 2,649.36 2,523.20 2,523.20 2,523.20 2,649.36 30,909.20 F 22.70 1,324.68 1,387.76 1,261.60 1,261.60 1,261.60 1,261.60 1,261.60 1,324.68 1,261.60 1,261.60 1,261.60 1,324.68 15,454.60 Normal CartonNo.1 4.30 11,922.12 12,489.84 11,354.40 11,354.40 11,354.40 11,354.40 11,354.40 11,922.12 11,354.40 11,354.40 11,354.40 11,922.12 139,091.40 No.2 5.70 9,935.10 10,408.20 9,462.00 9,462.00 9,462.00 9,462.00 9,462.00 9,935.10 9,462.00 9,462.00 9,462.00 9,935.10 115,909.50 No.3 7.70 7,948.08 8,326.56 7,569.60 7,569.60 7,569.60 7,569.60 7,569.60 7,948.08 7,569.60 7,569.60 7,569.60 7,948.08 92,727.60 No.4 10.70 3,974.04 4,163.28 3,784.80 3,784.80 3,784.80 3,784.80 3,784.80 3,974.04 3,784.80 3,784.80 3,784.80 3,974.04 46,363.80 No.5 12.70 3,974.04 4,163.28 3,784.80 3,784.80 3,784.80 3,784.80 3,784.80 3,974.04 3,784.80 3,784.80 3,784.80 3,974.04 46,363.80 No.6 17.70 1,987.02 2,081.64 1,892.40 1,892.40 1,892.40 1,892.40 1,892.40 1,987.02 1,892.40 1,892.40 1,892.40 1,987.02 23,181.90 Total 144.70 66,234.00 69,388.00 63,080.00 63,080.00 63,080.00 63,080.00 63,080.00 66,234.00 63,080.00 63,080.00 63,080.00 66,234.00 772,730.00

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 18678 19567 17789 17789 17789 17789 17789 18678 17789 17789 17789 18678 217910A 5.7 30203 31641 28764 28764 28764 28764 28764 30203 28764 28764 28764 30203 352365B 7.7 40800 42743 38857 38857 38857 38857 38857 40800 38857 38857 38857 40800 476002C 10.7 56696 59396 53996 53996 53996 53996 53996 56696 53996 53996 53996 56696 661457D 14.7 38946 40800 37091 37091 37091 37091 37091 38946 37091 37091 37091 38946 454365E 19.7 52192 54678 49707 49707 49707 49707 49707 52192 49707 49707 49707 52192 608911F 22.7 30070 31502 28638 28638 28638 28638 28638 30070 28638 28638 28638 30070 350819Normal CartonNo.1 4.3 51265 53706 48824 48824 48824 48824 48824 51265 48824 48824 48824 51265 598093No.2 5.7 56630 59327 53933 53933 53933 53933 53933 56630 53933 53933 53933 56630 660684No.3 7.7 61200 64115 58286 58286 58286 58286 58286 61200 58286 58286 58286 61200 714003No.4 10.7 42522 44547 40497 40497 40497 40497 40497 42522 40497 40497 40497 42522 496093No.5 12.7 50470 52874 48067 48067 48067 48067 48067 50470 48067 48067 48067 50470 588820No.6 17.7 35170 36845 33495 33495 33495 33495 33495 35170 33495 33495 33495 35170 410320Total 144.7 546166 572173 520158 520158 520158 520158 520158 546166 520158 520158 520158 546166 6371932Cost of goods sold 382316 400521 364110 364110 364110 364110 364110 382316 364110 364110 364110 382316 4460352

Sale volume

Year 1

Sale

Year 1Decrease 5%

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 4,371.44 4,579.61 4,163.28 4,163.28 4,163.28 4,163.28 4,163.28 4,371.44 4,163.28 4,163.28 4,163.28 4,371.44 51,000.18 A 5.70 5,828.59 6,106.14 5,551.04 5,551.04 5,551.04 5,551.04 5,551.04 5,828.59 5,551.04 5,551.04 5,551.04 5,828.59 68,000.24 B 7.70 5,828.59 6,106.14 5,551.04 5,551.04 5,551.04 5,551.04 5,551.04 5,828.59 5,551.04 5,551.04 5,551.04 5,828.59 68,000.24 C 10.70 5,828.59 6,106.14 5,551.04 5,551.04 5,551.04 5,551.04 5,551.04 5,828.59 5,551.04 5,551.04 5,551.04 5,828.59 68,000.24 D 14.70 2,914.30 3,053.07 2,775.52 2,775.52 2,775.52 2,775.52 2,775.52 2,914.30 2,775.52 2,775.52 2,775.52 2,914.30 34,000.12 E 19.70 2,914.30 3,053.07 2,775.52 2,775.52 2,775.52 2,775.52 2,775.52 2,914.30 2,775.52 2,775.52 2,775.52 2,914.30 34,000.12 F 22.70 1,457.15 1,526.54 1,387.76 1,387.76 1,387.76 1,387.76 1,387.76 1,457.15 1,387.76 1,387.76 1,387.76 1,457.15 17,000.06 Normal CartonNo.1 4.30 13,114.33 13,738.82 12,489.84 12,489.84 12,489.84 12,489.84 12,489.84 13,114.33 12,489.84 12,489.84 12,489.84 13,114.33 153,000.54 No.2 5.70 10,928.61 11,449.02 10,408.20 10,408.20 10,408.20 10,408.20 10,408.20 10,928.61 10,408.20 10,408.20 10,408.20 10,928.61 127,500.45 No.3 7.70 8,742.89 9,159.22 8,326.56 8,326.56 8,326.56 8,326.56 8,326.56 8,742.89 8,326.56 8,326.56 8,326.56 8,742.89 102,000.36 No.4 10.70 4,371.44 4,579.61 4,163.28 4,163.28 4,163.28 4,163.28 4,163.28 4,371.44 4,163.28 4,163.28 4,163.28 4,371.44 51,000.18 No.5 12.70 4,371.44 4,579.61 4,163.28 4,163.28 4,163.28 4,163.28 4,163.28 4,371.44 4,163.28 4,163.28 4,163.28 4,371.44 51,000.18 No.6 17.70 2,185.72 2,289.80 2,081.64 2,081.64 2,081.64 2,081.64 2,081.64 2,185.72 2,081.64 2,081.64 2,081.64 2,185.72 25,500.09 Total 144.70 72,857.40 76,326.80 69,388.00 69,388.00 69,388.00 69,388.00 69,388.00 72,857.40 69,388.00 69,388.00 69,388.00 72,857.40 850,003.00

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 20546 21524 19567 19567 19567 19567 19567 20546 19567 19567 19567 20546 239701A 5.7 33223 34805 31641 31641 31641 31641 31641 33223 31641 31641 31641 33223 387601B 7.7 44880 47017 42743 42743 42743 42743 42743 44880 42743 42743 42743 44880 523602C 10.7 62366 65336 59396 59396 59396 59396 59396 62366 59396 59396 59396 62366 727603D 14.7 42840 44880 40800 40800 40800 40800 40800 42840 40800 40800 40800 42840 499802E 19.7 57412 60146 54678 54678 54678 54678 54678 57412 54678 54678 54678 57412 669802F 22.7 33077 34652 31502 31502 31502 31502 31502 33077 31502 31502 31502 33077 385901Normal CartonNo.1 4.3 56392 59077 53706 53706 53706 53706 53706 56392 53706 53706 53706 56392 657902No.2 5.7 62293 65259 59327 59327 59327 59327 59327 62293 59327 59327 59327 62293 726753No.3 7.7 67320 70526 64115 64115 64115 64115 64115 67320 64115 64115 64115 67320 785403No.4 10.7 46774 49002 44547 44547 44547 44547 44547 46774 44547 44547 44547 46774 545702No.5 12.7 55517 58161 52874 52874 52874 52874 52874 55517 52874 52874 52874 55517 647702No.6 17.7 38687 40530 36845 36845 36845 36845 36845 38687 36845 36845 36845 38687 451352Total 144.7 600782 629391 572173 572173 572173 572173 572173 600782 572173 572173 572173 600782 7009125Cost of goods sold 420547 440574 400521 400521 400521 400521 400521 420547 400521 400521 400521 420547 4906387

Sale volume

Year 2

Sale

Year 2Decrease 5%

125

Year 3

Year 4

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 4,808.59 5,037.57 4,579.61 4,579.61 4,579.61 4,579.61 4,579.61 4,808.59 4,579.61 4,579.61 4,579.61 4,808.59 56,100.20 A 5.70 6,411.45 6,716.76 6,106.14 6,106.14 6,106.14 6,106.14 6,106.14 6,411.45 6,106.14 6,106.14 6,106.14 6,411.45 74,800.26 B 7.70 6,411.45 6,716.76 6,106.14 6,106.14 6,106.14 6,106.14 6,106.14 6,411.45 6,106.14 6,106.14 6,106.14 6,411.45 74,800.26 C 10.70 6,411.45 6,716.76 6,106.14 6,106.14 6,106.14 6,106.14 6,106.14 6,411.45 6,106.14 6,106.14 6,106.14 6,411.45 74,800.26 D 14.70 3,205.73 3,358.38 3,053.07 3,053.07 3,053.07 3,053.07 3,053.07 3,205.73 3,053.07 3,053.07 3,053.07 3,205.73 37,400.13 E 19.70 3,205.73 3,358.38 3,053.07 3,053.07 3,053.07 3,053.07 3,053.07 3,205.73 3,053.07 3,053.07 3,053.07 3,205.73 37,400.13 F 22.70 1,602.86 1,679.19 1,526.54 1,526.54 1,526.54 1,526.54 1,526.54 1,602.86 1,526.54 1,526.54 1,526.54 1,602.86 18,700.07 Normal CartonNo.1 4.30 14,425.77 15,112.71 13,738.82 13,738.82 13,738.82 13,738.82 13,738.82 14,425.77 13,738.82 13,738.82 13,738.82 14,425.77 168,300.59 No.2 5.70 12,021.47 12,593.92 11,449.02 11,449.02 11,449.02 11,449.02 11,449.02 12,021.47 11,449.02 11,449.02 11,449.02 12,021.47 140,250.50 No.3 7.70 9,617.18 10,075.14 9,159.22 9,159.22 9,159.22 9,159.22 9,159.22 9,617.18 9,159.22 9,159.22 9,159.22 9,617.18 112,200.40 No.4 10.70 4,808.59 5,037.57 4,579.61 4,579.61 4,579.61 4,579.61 4,579.61 4,808.59 4,579.61 4,579.61 4,579.61 4,808.59 56,100.20 No.5 12.70 4,808.59 5,037.57 4,579.61 4,579.61 4,579.61 4,579.61 4,579.61 4,808.59 4,579.61 4,579.61 4,579.61 4,808.59 56,100.20 No.6 17.70 2,404.29 2,518.78 2,289.80 2,289.80 2,289.80 2,289.80 2,289.80 2,404.29 2,289.80 2,289.80 2,289.80 2,404.29 28,050.10 Total 144.70 80,143.14 83,959.48 76,326.80 76,326.80 76,326.80 76,326.80 76,326.80 80,143.14 76,326.80 76,326.80 76,326.80 80,143.14 935,003.30

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 22600 23677 21524 21524 21524 21524 21524 22600 21524 21524 21524 22600 263671A 5.7 36545 38286 34805 34805 34805 34805 34805 36545 34805 34805 34805 36545 426362B 7.7 49368 51719 47017 47017 47017 47017 47017 49368 47017 47017 47017 49368 575962C 10.7 68603 71869 65336 65336 65336 65336 65336 68603 65336 65336 65336 68603 800363D 14.7 47124 49368 44880 44880 44880 44880 44880 47124 44880 44880 44880 47124 549782E 19.7 63153 66160 60146 60146 60146 60146 60146 63153 60146 60146 60146 63153 736783F 22.7 36385 38118 34652 34652 34652 34652 34652 36385 34652 34652 34652 36385 424491Normal CartonNo.1 4.3 62031 64985 59077 59077 59077 59077 59077 62031 59077 59077 59077 62031 723693No.2 5.7 68522 71785 65259 65259 65259 65259 65259 68522 65259 65259 65259 68522 799428No.3 7.7 74052 77579 70526 70526 70526 70526 70526 74052 70526 70526 70526 74052 863943No.4 10.7 51452 53902 49002 49002 49002 49002 49002 51452 49002 49002 49002 51452 600272No.5 12.7 61069 63977 58161 58161 58161 58161 58161 61069 58161 58161 58161 61069 712473No.6 17.7 42556 44582 40530 40530 40530 40530 40530 42556 40530 40530 40530 42556 496487Total 144.7 660860 692330 629391 629391 629391 629391 629391 660860 629391 629391 629391 660860 7710037Cost of goods sold 462602 484631 440574 440574 440574 440574 440574 462602 440574 440574 440574 462602 5397026

Sale

Year 3

Year 3

Sale volume

Decrease 5%

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 5,289.45 5,541.33 5,037.57 5,037.57 5,037.57 5,037.57 5,037.57 5,289.45 5,037.57 5,037.57 5,037.57 5,289.45 61,710.22 A 5.70 7,052.60 7,388.43 6,716.76 6,716.76 6,716.76 6,716.76 6,716.76 7,052.60 6,716.76 6,716.76 6,716.76 7,052.60 82,280.29 B 7.70 7,052.60 7,388.43 6,716.76 6,716.76 6,716.76 6,716.76 6,716.76 7,052.60 6,716.76 6,716.76 6,716.76 7,052.60 82,280.29 C 10.70 7,052.60 7,388.43 6,716.76 6,716.76 6,716.76 6,716.76 6,716.76 7,052.60 6,716.76 6,716.76 6,716.76 7,052.60 82,280.29 D 14.70 3,526.30 3,694.22 3,358.38 3,358.38 3,358.38 3,358.38 3,358.38 3,526.30 3,358.38 3,358.38 3,358.38 3,526.30 41,140.15 E 19.70 3,526.30 3,694.22 3,358.38 3,358.38 3,358.38 3,358.38 3,358.38 3,526.30 3,358.38 3,358.38 3,358.38 3,526.30 41,140.15 F 22.70 1,763.15 1,847.11 1,679.19 1,679.19 1,679.19 1,679.19 1,679.19 1,763.15 1,679.19 1,679.19 1,679.19 1,763.15 20,570.07 Normal CartonNo.1 4.30 15,868.34 16,623.98 15,112.71 15,112.71 15,112.71 15,112.71 15,112.71 15,868.34 15,112.71 15,112.71 15,112.71 15,868.34 185,130.65 No.2 5.70 13,223.62 13,853.31 12,593.92 12,593.92 12,593.92 12,593.92 12,593.92 13,223.62 12,593.92 12,593.92 12,593.92 13,223.62 154,275.54 No.3 7.70 10,578.89 11,082.65 10,075.14 10,075.14 10,075.14 10,075.14 10,075.14 10,578.89 10,075.14 10,075.14 10,075.14 10,578.89 123,420.44 No.4 10.70 5,289.45 5,541.33 5,037.57 5,037.57 5,037.57 5,037.57 5,037.57 5,289.45 5,037.57 5,037.57 5,037.57 5,289.45 61,710.22 No.5 12.70 5,289.45 5,541.33 5,037.57 5,037.57 5,037.57 5,037.57 5,037.57 5,289.45 5,037.57 5,037.57 5,037.57 5,289.45 61,710.22 No.6 17.70 2,644.72 2,770.66 2,518.78 2,518.78 2,518.78 2,518.78 2,518.78 2,644.72 2,518.78 2,518.78 2,518.78 2,644.72 30,855.11 Total 144.70 88,157.45 92,355.43 83,959.48 83,959.48 83,959.48 83,959.48 83,959.48 88,157.45 83,959.48 83,959.48 83,959.48 88,157.45 1,028,503.63

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 24860 26044 23677 23677 23677 23677 23677 24860 23677 23677 23677 24860 290038A 5.7 40200 42114 38286 38286 38286 38286 38286 40200 38286 38286 38286 40200 468998B 7.7 54305 56891 51719 51719 51719 51719 51719 54305 51719 51719 51719 54305 633558C 10.7 75463 79056 71869 71869 71869 71869 71869 75463 71869 71869 71869 75463 880399D 14.7 51837 54305 49368 49368 49368 49368 49368 51837 49368 49368 49368 51837 604760E 19.7 69468 72776 66160 66160 66160 66160 66160 69468 66160 66160 66160 69468 810461F 22.7 40023 41929 38118 38118 38118 38118 38118 40023 38118 38118 38118 40023 466941Normal CartonNo.1 4.3 68234 71483 64985 64985 64985 64985 64985 68234 64985 64985 64985 68234 796062No.2 5.7 75375 78964 71785 71785 71785 71785 71785 75375 71785 71785 71785 75375 879371No.3 7.7 81457 85336 77579 77579 77579 77579 77579 81457 77579 77579 77579 81457 950337No.4 10.7 56597 59292 53902 53902 53902 53902 53902 56597 53902 53902 53902 56597 660299No.5 12.7 67176 70375 63977 63977 63977 63977 63977 67176 63977 63977 63977 67176 783720No.6 17.7 46812 49041 44582 44582 44582 44582 44582 46812 44582 44582 44582 46812 546135Total 144.7 726946 761563 692330 692330 692330 692330 692330 726946 692330 692330 692330 726946 8481041Cost of goods sold 508862 533094 484631 484631 484631 484631 484631 508862 484631 484631 484631 508862 5936729

Sale volume

Year 4

Sale

Year 4Decrease 5%

126

Year 5

If sale decrease 10 %

Year 1

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 5,818.39 6,095.46 5,541.33 5,541.33 5,541.33 5,541.33 5,541.33 5,818.39 5,541.33 5,541.33 5,541.33 5,818.39 67,881.24 A 5.7 7,757.86 8,127.28 7,388.43 7,388.43 7,388.43 7,388.43 7,388.43 7,757.86 7,388.43 7,388.43 7,388.43 7,757.86 90,508.32 B 7.7 7,757.86 8,127.28 7,388.43 7,388.43 7,388.43 7,388.43 7,388.43 7,757.86 7,388.43 7,388.43 7,388.43 7,757.86 90,508.32 C 10.7 7,757.86 8,127.28 7,388.43 7,388.43 7,388.43 7,388.43 7,388.43 7,757.86 7,388.43 7,388.43 7,388.43 7,757.86 90,508.32 D 14.7 3,878.93 4,063.64 3,694.22 3,694.22 3,694.22 3,694.22 3,694.22 3,878.93 3,694.22 3,694.22 3,694.22 3,878.93 45,254.16 E 19.7 3,878.93 4,063.64 3,694.22 3,694.22 3,694.22 3,694.22 3,694.22 3,878.93 3,694.22 3,694.22 3,694.22 3,878.93 45,254.16 F 22.7 1,939.46 2,031.82 1,847.11 1,847.11 1,847.11 1,847.11 1,847.11 1,939.46 1,847.11 1,847.11 1,847.11 1,939.46 22,627.08 Normal CartonNo.1 4.3 17,455.18 18,286.37 16,623.98 16,623.98 16,623.98 16,623.98 16,623.98 17,455.18 16,623.98 16,623.98 16,623.98 17,455.18 203,643.72 No.2 5.7 14,545.98 15,238.65 13,853.31 13,853.31 13,853.31 13,853.31 13,853.31 14,545.98 13,853.31 13,853.31 13,853.31 14,545.98 169,703.10 No.3 7.7 11,636.78 12,190.92 11,082.65 11,082.65 11,082.65 11,082.65 11,082.65 11,636.78 11,082.65 11,082.65 11,082.65 11,636.78 135,762.48 No.4 10.7 5,818.39 6,095.46 5,541.33 5,541.33 5,541.33 5,541.33 5,541.33 5,818.39 5,541.33 5,541.33 5,541.33 5,818.39 67,881.24 No.5 12.7 5,818.39 6,095.46 5,541.33 5,541.33 5,541.33 5,541.33 5,541.33 5,818.39 5,541.33 5,541.33 5,541.33 5,818.39 67,881.24 No.6 17.7 2,909.20 3,047.73 2,770.66 2,770.66 2,770.66 2,770.66 2,770.66 2,909.20 2,770.66 2,770.66 2,770.66 2,909.20 33,940.62 Total 144.7 96,973.20 101,590.97 92,355.43 92,355.43 92,355.43 92,355.43 92,355.43 96,973.20 92,355.43 92,355.43 92,355.43 96,973.20 1,131,353.99

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 27346 28649 26044 26044 26044 26044 26044 27346 26044 26044 26044 27346 319042A 5.7 44220 46325 42114 42114 42114 42114 42114 44220 42114 42114 42114 44220 515897B 7.7 59735 62580 56891 56891 56891 56891 56891 59735 56891 56891 56891 59735 696914C 10.7 83009 86962 79056 79056 79056 79056 79056 83009 79056 79056 79056 83009 968439D 14.7 57020 59735 54305 54305 54305 54305 54305 57020 54305 54305 54305 57020 665236E 19.7 76415 80054 72776 72776 72776 72776 72776 76415 72776 72776 72776 76415 891507F 22.7 44026 46122 41929 41929 41929 41929 41929 44026 41929 41929 41929 44026 513635Normal CartonNo.1 4.3 75057 78631 71483 71483 71483 71483 71483 75057 71483 71483 71483 75057 875668No.2 5.7 82912 86860 78964 78964 78964 78964 78964 82912 78964 78964 78964 82912 967308No.3 7.7 89603 93870 85336 85336 85336 85336 85336 89603 85336 85336 85336 89603 1045371No.4 10.7 62257 65221 59292 59292 59292 59292 59292 62257 59292 59292 59292 62257 726329No.5 12.7 73894 77412 70375 70375 70375 70375 70375 73894 70375 70375 70375 73894 862092No.6 17.7 51493 53945 49041 49041 49041 49041 49041 51493 49041 49041 49041 51493 600749Total 144.7 799641 837719 761563 761563 761563 761563 761563 799641 761563 761563 761563 799641 9329145Cost of goods sold 559749 586403 533094 533094 533094 533094 533094 559749 533094 533094 533094 559749 6530402

Sale volume

Year 5

Sale

Year 5Decrease 5%

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 3,764.88 3,944.16 3,585.60 3,585.60 3,585.60 3,585.60 3,585.60 3,764.88 3,585.60 3,585.60 3,585.60 3,764.88 43,923.60 A 5.70 5,019.84 5,258.88 4,780.80 4,780.80 4,780.80 4,780.80 4,780.80 5,019.84 4,780.80 4,780.80 4,780.80 5,019.84 58,564.80 B 7.70 5,019.84 5,258.88 4,780.80 4,780.80 4,780.80 4,780.80 4,780.80 5,019.84 4,780.80 4,780.80 4,780.80 5,019.84 58,564.80 C 10.70 5,019.84 5,258.88 4,780.80 4,780.80 4,780.80 4,780.80 4,780.80 5,019.84 4,780.80 4,780.80 4,780.80 5,019.84 58,564.80 D 14.70 2,509.92 2,629.44 2,390.40 2,390.40 2,390.40 2,390.40 2,390.40 2,509.92 2,390.40 2,390.40 2,390.40 2,509.92 29,282.40 E 19.70 2,509.92 2,629.44 2,390.40 2,390.40 2,390.40 2,390.40 2,390.40 2,509.92 2,390.40 2,390.40 2,390.40 2,509.92 29,282.40 F 22.70 1,254.96 1,314.72 1,195.20 1,195.20 1,195.20 1,195.20 1,195.20 1,254.96 1,195.20 1,195.20 1,195.20 1,254.96 14,641.20 Normal CartonNo.1 4.30 11,294.64 11,832.48 10,756.80 10,756.80 10,756.80 10,756.80 10,756.80 11,294.64 10,756.80 10,756.80 10,756.80 11,294.64 131,770.80 No.2 5.70 9,412.20 9,860.40 8,964.00 8,964.00 8,964.00 8,964.00 8,964.00 9,412.20 8,964.00 8,964.00 8,964.00 9,412.20 109,809.00 No.3 7.70 7,529.76 7,888.32 7,171.20 7,171.20 7,171.20 7,171.20 7,171.20 7,529.76 7,171.20 7,171.20 7,171.20 7,529.76 87,847.20 No.4 10.70 3,764.88 3,944.16 3,585.60 3,585.60 3,585.60 3,585.60 3,585.60 3,764.88 3,585.60 3,585.60 3,585.60 3,764.88 43,923.60 No.5 12.70 3,764.88 3,944.16 3,585.60 3,585.60 3,585.60 3,585.60 3,585.60 3,764.88 3,585.60 3,585.60 3,585.60 3,764.88 43,923.60 No.6 17.70 1,882.44 1,972.08 1,792.80 1,792.80 1,792.80 1,792.80 1,792.80 1,882.44 1,792.80 1,792.80 1,792.80 1,882.44 21,961.80 Total 144.70 62,748.00 65,736.00 59,760.00 59,760.00 59,760.00 59,760.00 59,760.00 62,748.00 59,760.00 59,760.00 59,760.00 62,748.00 732,060.00

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 17695 18538 16852 16852 16852 16852 16852 17695 16852 16852 16852 17695 206441A 5.7 28613 29976 27251 27251 27251 27251 27251 28613 27251 27251 27251 28613 333819B 7.7 38653 40493 36812 36812 36812 36812 36812 38653 36812 36812 36812 38653 450949C 10.7 53712 56270 51155 51155 51155 51155 51155 53712 51155 51155 51155 53712 626643D 14.7 36896 38653 35139 35139 35139 35139 35139 36896 35139 35139 35139 36896 430451E 19.7 49445 51800 47091 47091 47091 47091 47091 49445 47091 47091 47091 49445 576863F 22.7 28488 29844 27131 27131 27131 27131 27131 28488 27131 27131 27131 28488 332355Normal CartonNo.1 4.3 48567 50880 46254 46254 46254 46254 46254 48567 46254 46254 46254 48567 566614No.2 5.7 53650 56204 51095 51095 51095 51095 51095 53650 51095 51095 51095 53650 625911No.3 7.7 57979 60740 55218 55218 55218 55218 55218 57979 55218 55218 55218 57979 676423No.4 10.7 40284 42203 38366 38366 38366 38366 38366 40284 38366 38366 38366 40284 469983No.5 12.7 47814 50091 45537 45537 45537 45537 45537 47814 45537 45537 45537 47814 557830No.6 17.7 33319 34906 31733 31733 31733 31733 31733 33319 31733 31733 31733 33319 388724Total 144.7 517420 542059 492781 492781 492781 492781 492781 517420 492781 492781 492781 517420 6036567Cost of goods sold 362194 379441 344947 344947 344947 344947 344947 362194 344947 344947 344947 362194 4225597

Year 1Decrease 10%

Sale volume

Year 1

Sale

127

Year 2

Year3

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 4,141.37 4,338.58 3,944.16 3,944.16 3,944.16 3,944.16 3,944.16 4,141.37 3,944.16 3,944.16 3,944.16 4,141.37 48,315.96 A 5.70 5,521.82 5,784.77 5,258.88 5,258.88 5,258.88 5,258.88 5,258.88 5,521.82 5,258.88 5,258.88 5,258.88 5,521.82 64,421.28 B 7.70 5,521.82 5,784.77 5,258.88 5,258.88 5,258.88 5,258.88 5,258.88 5,521.82 5,258.88 5,258.88 5,258.88 5,521.82 64,421.28 C 10.70 5,521.82 5,784.77 5,258.88 5,258.88 5,258.88 5,258.88 5,258.88 5,521.82 5,258.88 5,258.88 5,258.88 5,521.82 64,421.28 D 14.70 2,760.91 2,892.38 2,629.44 2,629.44 2,629.44 2,629.44 2,629.44 2,760.91 2,629.44 2,629.44 2,629.44 2,760.91 32,210.64 E 19.70 2,760.91 2,892.38 2,629.44 2,629.44 2,629.44 2,629.44 2,629.44 2,760.91 2,629.44 2,629.44 2,629.44 2,760.91 32,210.64 F 22.70 1,380.46 1,446.19 1,314.72 1,314.72 1,314.72 1,314.72 1,314.72 1,380.46 1,314.72 1,314.72 1,314.72 1,380.46 16,105.32 Normal CartonNo.1 4.30 12,424.10 13,015.73 11,832.48 11,832.48 11,832.48 11,832.48 11,832.48 12,424.10 11,832.48 11,832.48 11,832.48 12,424.10 144,947.88 No.2 5.70 10,353.42 10,846.44 9,860.40 9,860.40 9,860.40 9,860.40 9,860.40 10,353.42 9,860.40 9,860.40 9,860.40 10,353.42 120,789.90 No.3 7.70 8,282.74 8,677.15 7,888.32 7,888.32 7,888.32 7,888.32 7,888.32 8,282.74 7,888.32 7,888.32 7,888.32 8,282.74 96,631.92 No.4 10.70 4,141.37 4,338.58 3,944.16 3,944.16 3,944.16 3,944.16 3,944.16 4,141.37 3,944.16 3,944.16 3,944.16 4,141.37 48,315.96 No.5 12.70 4,141.37 4,338.58 3,944.16 3,944.16 3,944.16 3,944.16 3,944.16 4,141.37 3,944.16 3,944.16 3,944.16 4,141.37 48,315.96 No.6 17.70 2,070.68 2,169.29 1,972.08 1,972.08 1,972.08 1,972.08 1,972.08 2,070.68 1,972.08 1,972.08 1,972.08 2,070.68 24,157.98 Total 144.70 69,022.80 72,309.60 65,736.00 65,736.00 65,736.00 65,736.00 65,736.00 69,022.80 65,736.00 65,736.00 65,736.00 69,022.80 805,266.00

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 19464 20391 18538 18538 18538 18538 18538 19464 18538 18538 18538 19464 227085A 5.7 31474 32973 29976 29976 29976 29976 29976 31474 29976 29976 29976 31474 367201B 7.7 42518 44543 40493 40493 40493 40493 40493 42518 40493 40493 40493 42518 496044C 10.7 59084 61897 56270 56270 56270 56270 56270 59084 56270 56270 56270 59084 689308D 14.7 40585 42518 38653 38653 38653 38653 38653 40585 38653 38653 38653 40585 473496E 19.7 54390 56980 51800 51800 51800 51800 51800 54390 51800 51800 51800 54390 634550F 22.7 31336 32829 29844 29844 29844 29844 29844 31336 29844 29844 29844 31336 365591Normal CartonNo.1 4.3 53424 55968 50880 50880 50880 50880 50880 53424 50880 50880 50880 53424 623276No.2 5.7 59014 61825 56204 56204 56204 56204 56204 59014 56204 56204 56204 59014 688502No.3 7.7 63777 66814 60740 60740 60740 60740 60740 63777 60740 60740 60740 63777 744066No.4 10.7 44313 46423 42203 42203 42203 42203 42203 44313 42203 42203 42203 44313 516981No.5 12.7 52595 55100 50091 50091 50091 50091 50091 52595 50091 50091 50091 52595 613613No.6 17.7 36651 38396 34906 34906 34906 34906 34906 36651 34906 34906 34906 36651 427596Total 144.7 569162 596265 542059 542059 542059 542059 542059 569162 542059 542059 542059 569162 6640223Cost of goods sold 398413 417385 379441 379441 379441 379441 379441 398413 379441 379441 379441 398413 4648156Decrease 15%

Year 2

Sale

Decrease 10%Year 2

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 4,555.50 4,772.43 4,338.58 4,338.58 4,338.58 4,338.58 4,338.58 4,555.50 4,338.58 4,338.58 4,338.58 4,555.50 53,147.56 A 5.70 6,074.01 6,363.24 5,784.77 5,784.77 5,784.77 5,784.77 5,784.77 6,074.01 5,784.77 5,784.77 5,784.77 6,074.01 70,863.41 B 7.70 6,074.01 6,363.24 5,784.77 5,784.77 5,784.77 5,784.77 5,784.77 6,074.01 5,784.77 5,784.77 5,784.77 6,074.01 70,863.41 C 10.70 6,074.01 6,363.24 5,784.77 5,784.77 5,784.77 5,784.77 5,784.77 6,074.01 5,784.77 5,784.77 5,784.77 6,074.01 70,863.41 D 14.70 3,037.00 3,181.62 2,892.38 2,892.38 2,892.38 2,892.38 2,892.38 3,037.00 2,892.38 2,892.38 2,892.38 3,037.00 35,431.70 E 19.70 3,037.00 3,181.62 2,892.38 2,892.38 2,892.38 2,892.38 2,892.38 3,037.00 2,892.38 2,892.38 2,892.38 3,037.00 35,431.70 F 22.70 1,518.50 1,590.81 1,446.19 1,446.19 1,446.19 1,446.19 1,446.19 1,518.50 1,446.19 1,446.19 1,446.19 1,518.50 17,715.85 Normal CartonNo.1 4.30 13,666.51 14,317.30 13,015.73 13,015.73 13,015.73 13,015.73 13,015.73 13,666.51 13,015.73 13,015.73 13,015.73 13,666.51 159,442.67 No.2 5.70 11,388.76 11,931.08 10,846.44 10,846.44 10,846.44 10,846.44 10,846.44 11,388.76 10,846.44 10,846.44 10,846.44 11,388.76 132,868.89 No.3 7.70 9,111.01 9,544.87 8,677.15 8,677.15 8,677.15 8,677.15 8,677.15 9,111.01 8,677.15 8,677.15 8,677.15 9,111.01 106,295.11 No.4 10.70 4,555.50 4,772.43 4,338.58 4,338.58 4,338.58 4,338.58 4,338.58 4,555.50 4,338.58 4,338.58 4,338.58 4,555.50 53,147.56 No.5 12.70 4,555.50 4,772.43 4,338.58 4,338.58 4,338.58 4,338.58 4,338.58 4,555.50 4,338.58 4,338.58 4,338.58 4,555.50 53,147.56 No.6 17.70 2,277.75 2,386.22 2,169.29 2,169.29 2,169.29 2,169.29 2,169.29 2,277.75 2,169.29 2,169.29 2,169.29 2,277.75 26,573.78 Total 144.70 75,925.08 79,540.56 72,309.60 72,309.60 72,309.60 72,309.60 72,309.60 75,925.08 72,309.60 72,309.60 72,309.60 75,925.08 885,792.60

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 21411 22430 20391 20391 20391 20391 20391 21411 20391 20391 20391 21411 249794A 5.7 34622 36270 32973 32973 32973 32973 32973 34622 32973 32973 32973 34622 403921B 7.7 46770 48997 44543 44543 44543 44543 44543 46770 44543 44543 44543 46770 545648C 10.7 64992 68087 61897 61897 61897 61897 61897 64992 61897 61897 61897 64992 758238D 14.7 44644 46770 42518 42518 42518 42518 42518 44644 42518 42518 42518 44644 520846E 19.7 59829 62678 56980 56980 56980 56980 56980 59829 56980 56980 56980 59829 698005F 22.7 34470 36111 32829 32829 32829 32829 32829 34470 32829 32829 32829 34470 402150Normal CartonNo.1 4.3 58766 61564 55968 55968 55968 55968 55968 58766 55968 55968 55968 58766 685603No.2 5.7 64916 68007 61825 61825 61825 61825 61825 64916 61825 61825 61825 64916 757353No.3 7.7 70155 73495 66814 66814 66814 66814 66814 70155 66814 66814 66814 70155 818472No.4 10.7 48744 51065 46423 46423 46423 46423 46423 48744 46423 46423 46423 48744 568679No.5 12.7 57855 60610 55100 55100 55100 55100 55100 57855 55100 55100 55100 57855 674974No.6 17.7 40316 42236 38396 38396 38396 38396 38396 40316 38396 38396 38396 40316 470356Total 144.7 626078 655891 596265 596265 596265 596265 596265 626078 596265 596265 596265 626078 7304246Cost of goods sold 438255 459124 417385 417385 417385 417385 417385 438255 417385 417385 417385 438255 5112972

Year 3

Sale volume

Year 3

Sale

Decrease 10%

128

Year4

Year 5

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 5,011.06 5,249.68 4,772.43 4,772.43 4,772.43 4,772.43 4,772.43 5,011.06 4,772.43 4,772.43 4,772.43 5,011.06 58,462.31 A 5.70 6,681.41 6,999.57 6,363.24 6,363.24 6,363.24 6,363.24 6,363.24 6,681.41 6,363.24 6,363.24 6,363.24 6,681.41 77,949.75 B 7.70 6,681.41 6,999.57 6,363.24 6,363.24 6,363.24 6,363.24 6,363.24 6,681.41 6,363.24 6,363.24 6,363.24 6,681.41 77,949.75 C 10.70 6,681.41 6,999.57 6,363.24 6,363.24 6,363.24 6,363.24 6,363.24 6,681.41 6,363.24 6,363.24 6,363.24 6,681.41 77,949.75 D 14.70 3,340.70 3,499.78 3,181.62 3,181.62 3,181.62 3,181.62 3,181.62 3,340.70 3,181.62 3,181.62 3,181.62 3,340.70 38,974.87 E 19.70 3,340.70 3,499.78 3,181.62 3,181.62 3,181.62 3,181.62 3,181.62 3,340.70 3,181.62 3,181.62 3,181.62 3,340.70 38,974.87 F 22.70 1,670.35 1,749.89 1,590.81 1,590.81 1,590.81 1,590.81 1,590.81 1,670.35 1,590.81 1,590.81 1,590.81 1,670.35 19,487.44 Normal CartonNo.1 4.30 15,033.17 15,749.03 14,317.30 14,317.30 14,317.30 14,317.30 14,317.30 15,033.17 14,317.30 14,317.30 14,317.30 15,033.17 175,386.93 No.2 5.70 12,527.64 13,124.19 11,931.08 11,931.08 11,931.08 11,931.08 11,931.08 12,527.64 11,931.08 11,931.08 11,931.08 12,527.64 146,155.78 No.3 7.70 10,022.11 10,499.35 9,544.87 9,544.87 9,544.87 9,544.87 9,544.87 10,022.11 9,544.87 9,544.87 9,544.87 10,022.11 116,924.62 No.4 10.70 5,011.06 5,249.68 4,772.43 4,772.43 4,772.43 4,772.43 4,772.43 5,011.06 4,772.43 4,772.43 4,772.43 5,011.06 58,462.31 No.5 12.70 5,011.06 5,249.68 4,772.43 4,772.43 4,772.43 4,772.43 4,772.43 5,011.06 4,772.43 4,772.43 4,772.43 5,011.06 58,462.31 No.6 17.70 2,505.53 2,624.84 2,386.22 2,386.22 2,386.22 2,386.22 2,386.22 2,505.53 2,386.22 2,386.22 2,386.22 2,505.53 29,231.16 Total 144.70 83,517.59 87,494.62 79,540.56 79,540.56 79,540.56 79,540.56 79,540.56 83,517.59 79,540.56 79,540.56 79,540.56 83,517.59 974,371.86

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 23552 24673 22430 22430 22430 22430 22430 23552 22430 22430 22430 23552 274773A 5.7 38084 39898 36270 36270 36270 36270 36270 38084 36270 36270 36270 38084 444314B 7.7 51447 53897 48997 48997 48997 48997 48997 51447 48997 48997 48997 51447 600213C 10.7 71491 74895 68087 68087 68087 68087 68087 71491 68087 68087 68087 71491 834062D 14.7 49108 51447 46770 46770 46770 46770 46770 49108 46770 46770 46770 49108 572931E 19.7 65812 68946 62678 62678 62678 62678 62678 65812 62678 62678 62678 65812 767805F 22.7 37917 39723 36111 36111 36111 36111 36111 37917 36111 36111 36111 37917 442365Normal CartonNo.1 4.3 64643 67721 61564 61564 61564 61564 61564 64643 61564 61564 61564 64643 754164No.2 5.7 71408 74808 68007 68007 68007 68007 68007 71408 68007 68007 68007 71408 833088No.3 7.7 77170 80845 73495 73495 73495 73495 73495 77170 73495 73495 73495 77170 900320No.4 10.7 53618 56172 51065 51065 51065 51065 51065 53618 51065 51065 51065 53618 625547No.5 12.7 63640 66671 60610 60610 60610 60610 60610 63640 60610 60610 60610 63640 742471No.6 17.7 44348 46460 42236 42236 42236 42236 42236 44348 42236 42236 42236 44348 517391Total 144.7 688686 721481 655891 655891 655891 655891 655891 688686 655891 655891 655891 688686 8034670Cost of goods sold 482080 505036 459124 459124 459124 459124 459124 482080 459124 459124 459124 482080 5624269

Year 4

Sale

Decrease 10%Year 4

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 5,512.16 5,774.64 5,249.68 5,249.68 5,249.68 5,249.68 5,249.68 5,512.16 5,249.68 5,249.68 5,249.68 5,512.16 64,308.54 A 5.70 7,349.55 7,699.53 6,999.57 6,999.57 6,999.57 6,999.57 6,999.57 7,349.55 6,999.57 6,999.57 6,999.57 7,349.55 85,744.72 B 7.70 7,349.55 7,699.53 6,999.57 6,999.57 6,999.57 6,999.57 6,999.57 7,349.55 6,999.57 6,999.57 6,999.57 7,349.55 85,744.72 C 10.70 7,349.55 7,699.53 6,999.57 6,999.57 6,999.57 6,999.57 6,999.57 7,349.55 6,999.57 6,999.57 6,999.57 7,349.55 85,744.72 D 14.70 3,674.77 3,849.76 3,499.78 3,499.78 3,499.78 3,499.78 3,499.78 3,674.77 3,499.78 3,499.78 3,499.78 3,674.77 42,872.36 E 19.70 3,674.77 3,849.76 3,499.78 3,499.78 3,499.78 3,499.78 3,499.78 3,674.77 3,499.78 3,499.78 3,499.78 3,674.77 42,872.36 F 22.70 1,837.39 1,924.88 1,749.89 1,749.89 1,749.89 1,749.89 1,749.89 1,837.39 1,749.89 1,749.89 1,749.89 1,837.39 21,436.18 Normal CartonNo.1 4.30 16,536.48 17,323.93 15,749.03 15,749.03 15,749.03 15,749.03 15,749.03 16,536.48 15,749.03 15,749.03 15,749.03 16,536.48 192,925.63 No.2 5.70 13,780.40 14,436.61 13,124.19 13,124.19 13,124.19 13,124.19 13,124.19 13,780.40 13,124.19 13,124.19 13,124.19 13,780.40 160,771.36 No.3 7.70 11,024.32 11,549.29 10,499.35 10,499.35 10,499.35 10,499.35 10,499.35 11,024.32 10,499.35 10,499.35 10,499.35 11,024.32 128,617.09 No.4 10.70 5,512.16 5,774.64 5,249.68 5,249.68 5,249.68 5,249.68 5,249.68 5,512.16 5,249.68 5,249.68 5,249.68 5,512.16 64,308.54 No.5 12.70 5,512.16 5,774.64 5,249.68 5,249.68 5,249.68 5,249.68 5,249.68 5,512.16 5,249.68 5,249.68 5,249.68 5,512.16 64,308.54 No.6 17.70 2,756.08 2,887.32 2,624.84 2,624.84 2,624.84 2,624.84 2,624.84 2,756.08 2,624.84 2,624.84 2,624.84 2,756.08 32,154.27 Total 144.70 91,869.35 96,244.08 87,494.62 87,494.62 87,494.62 87,494.62 87,494.62 91,869.35 87,494.62 87,494.62 87,494.62 91,869.35 1,071,809.05

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 25907 27141 24673 24673 24673 24673 24673 25907 24673 24673 24673 25907 302250A 5.7 41892 43887 39898 39898 39898 39898 39898 41892 39898 39898 39898 41892 488745B 7.7 56592 59286 53897 53897 53897 53897 53897 56592 53897 53897 53897 56592 660234C 10.7 78640 82385 74895 74895 74895 74895 74895 78640 74895 74895 74895 78640 917469D 14.7 54019 56592 51447 51447 51447 51447 51447 54019 51447 51447 51447 54019 630224E 19.7 72393 75840 68946 68946 68946 68946 68946 72393 68946 68946 68946 72393 844586F 22.7 41709 43695 39723 39723 39723 39723 39723 41709 39723 39723 39723 41709 486601Normal CartonNo.1 4.3 71107 74493 67721 67721 67721 67721 67721 71107 67721 67721 67721 71107 829580No.2 5.7 78548 82289 74808 74808 74808 74808 74808 78548 74808 74808 74808 78548 916397No.3 7.7 84887 88930 80845 80845 80845 80845 80845 84887 80845 80845 80845 84887 990352No.4 10.7 58980 61789 56172 56172 56172 56172 56172 58980 56172 56172 56172 58980 688101No.5 12.7 70004 73338 66671 66671 66671 66671 66671 70004 66671 66671 66671 70004 816718No.6 17.7 48783 51106 46460 46460 46460 46460 46460 48783 46460 46460 46460 48783 569131Total 144.7 757555 793629 721481 721481 721481 721481 721481 757555 721481 721481 721481 757555 8838137Cost of goods sold 530288 555540 505036 505036 505036 505036 505036 530288 505036 505036 505036 530288 6186696

Year 5

Sale

Year 5

Sale volume

Decrease 10%

129

If sale decrease 15%

Year 1

Year 2

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 3556 3725 3386 3386 3386 3386 3386 3556 3386 3386 3386 3556 41483A 5.7 4741 4967 4515 4515 4515 4515 4515 4741 4515 4515 4515 4741 55311B 7.7 4741 4967 4515 4515 4515 4515 4515 4741 4515 4515 4515 4741 55311C 10.7 4741 4967 4515 4515 4515 4515 4515 4741 4515 4515 4515 4741 55311D 14.7 2370 2483 2258 2258 2258 2258 2258 2370 2258 2258 2258 2370 27656E 19.7 2370 2483 2258 2258 2258 2258 2258 2370 2258 2258 2258 2370 27656F 22.7 1185 1242 1129 1129 1129 1129 1129 1185 1129 1129 1129 1185 13828Normal Carton 0 0 0 0 0 0 0 0 0 0 0 0No.1 4.3 10667 11175 10159 10159 10159 10159 10159 10667 10159 10159 10159 10667 124450No.2 5.7 8889 9313 8466 8466 8466 8466 8466 8889 8466 8466 8466 8889 103709No.3 7.7 7111 7450 6773 6773 6773 6773 6773 7111 6773 6773 6773 7111 82967No.4 10.7 3556 3725 3386 3386 3386 3386 3386 3556 3386 3386 3386 3556 41483No.5 12.7 3556 3725 3386 3386 3386 3386 3386 3556 3386 3386 3386 3556 41483No.6 17.7 1778 1863 1693 1693 1693 1693 1693 1778 1693 1693 1693 1778 20742Total 144.7 59262 62084 56440 56440 56440 56440 56440 59262 56440 56440 56440 59262 691390

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 16712 17508 15916 15916 15916 15916 15916 16712 15916 15916 15916 16712 194972A 5.7 27023 28310 25737 25737 25737 25737 25737 27023 25737 25737 25737 27023 315274B 7.7 36505 38244 34767 34767 34767 34767 34767 36505 34767 34767 34767 36505 425896C 10.7 50728 53144 48313 48313 48313 48313 48313 50728 48313 48313 48313 50728 591830D 14.7 34846 36505 33187 33187 33187 33187 33187 34846 33187 33187 33187 34846 406537E 19.7 46698 48922 44475 44475 44475 44475 44475 46698 44475 44475 44475 46698 544815F 22.7 26905 28186 25624 25624 25624 25624 25624 26905 25624 25624 25624 26905 313891Normal Carton 0 0 0 0 0 0 0 0 0 0 0 0 0No.1 4.3 45869 48053 43685 43685 43685 43685 43685 45869 43685 43685 43685 45869 535136No.2 5.7 50669 53082 48256 48256 48256 48256 48256 50669 48256 48256 48256 50669 591138No.3 7.7 54758 57366 52151 52151 52151 52151 52151 54758 52151 52151 52151 54758 638844No.4 10.7 38046 39858 36234 36234 36234 36234 36234 38046 36234 36234 36234 38046 443872No.5 12.7 45158 47308 43007 43007 43007 43007 43007 45158 43007 43007 43007 45158 526839No.6 17.7 31468 32967 29970 29970 29970 29970 29970 31468 29970 29970 29970 31468 367128Total 144.7 488674 511945 465404 465404 465404 465404 465404 488674 465404 465404 465404 488674 5701202Cost of goods sold 342072 358361 325783 325783 325783 325783 325783 342072 325783 325783 325783 342072 3990841

Year 1

Decrease 15%

Sale

Year 1

Sale volume

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 3,911.29 4,097.54 3,725.04 3,725.04 3,725.04 3,725.04 3,725.04 3,911.29 3,725.04 3,725.04 3,725.04 3,911.29 45,631.74 A 5.70 5,215.06 5,463.39 4,966.72 4,966.72 4,966.72 4,966.72 4,966.72 5,215.06 4,966.72 4,966.72 4,966.72 5,215.06 60,842.32 B 7.70 5,215.06 5,463.39 4,966.72 4,966.72 4,966.72 4,966.72 4,966.72 5,215.06 4,966.72 4,966.72 4,966.72 5,215.06 60,842.32 C 10.70 5,215.06 5,463.39 4,966.72 4,966.72 4,966.72 4,966.72 4,966.72 5,215.06 4,966.72 4,966.72 4,966.72 5,215.06 60,842.32 D 14.70 2,607.53 2,731.70 2,483.36 2,483.36 2,483.36 2,483.36 2,483.36 2,607.53 2,483.36 2,483.36 2,483.36 2,607.53 30,421.16 E 19.70 2,607.53 2,731.70 2,483.36 2,483.36 2,483.36 2,483.36 2,483.36 2,607.53 2,483.36 2,483.36 2,483.36 2,607.53 30,421.16 F 22.70 1,303.76 1,365.85 1,241.68 1,241.68 1,241.68 1,241.68 1,241.68 1,303.76 1,241.68 1,241.68 1,241.68 1,303.76 15,210.58 Normal Carton - - - - - - - - - - - - No.1 4.30 11,733.88 12,292.63 11,175.12 11,175.12 11,175.12 11,175.12 11,175.12 11,733.88 11,175.12 11,175.12 11,175.12 11,733.88 136,895.22 No.2 5.70 9,778.23 10,243.86 9,312.60 9,312.60 9,312.60 9,312.60 9,312.60 9,778.23 9,312.60 9,312.60 9,312.60 9,778.23 114,079.35 No.3 7.70 7,822.58 8,195.09 7,450.08 7,450.08 7,450.08 7,450.08 7,450.08 7,822.58 7,450.08 7,450.08 7,450.08 7,822.58 91,263.48 No.4 10.70 3,911.29 4,097.54 3,725.04 3,725.04 3,725.04 3,725.04 3,725.04 3,911.29 3,725.04 3,725.04 3,725.04 3,911.29 45,631.74 No.5 12.70 3,911.29 4,097.54 3,725.04 3,725.04 3,725.04 3,725.04 3,725.04 3,911.29 3,725.04 3,725.04 3,725.04 3,911.29 45,631.74 No.6 17.70 1,955.65 2,048.77 1,862.52 1,862.52 1,862.52 1,862.52 1,862.52 1,955.65 1,862.52 1,862.52 1,862.52 1,955.65 22,815.87 Total 144.70 65,188.20 68,292.40 62,084.00 62,084.00 62,084.00 62,084.00 62,084.00 65,188.20 62,084.00 62,084.00 62,084.00 65,188.20 760,529.00

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 18383 19258 17508 17508 17508 17508 17508 18383 17508 17508 17508 18383 214469A 5.7 29726 31141 28310 28310 28310 28310 28310 29726 28310 28310 28310 29726 346801B 7.7 40156 42068 38244 38244 38244 38244 38244 40156 38244 38244 38244 40156 468486C 10.7 55801 58458 53144 53144 53144 53144 53144 55801 53144 53144 53144 55801 651013D 14.7 38331 40156 36505 36505 36505 36505 36505 38331 36505 36505 36505 38331 447191E 19.7 51368 53814 48922 48922 48922 48922 48922 51368 48922 48922 48922 51368 599297F 22.7 29595 31005 28186 28186 28186 28186 28186 29595 28186 28186 28186 29595 345280Normal Carton 0 0 0 0 0 0 0 0 0 0 0 0 0No.1 4.3 50456 52858 48053 48053 48053 48053 48053 50456 48053 48053 48053 50456 588649No.2 5.7 55736 58390 53082 53082 53082 53082 53082 55736 53082 53082 53082 55736 650252No.3 7.7 60234 63102 57366 57366 57366 57366 57366 60234 57366 57366 57366 60234 702729No.4 10.7 41851 43844 39858 39858 39858 39858 39858 41851 39858 39858 39858 41851 488260No.5 12.7 49673 52039 47308 47308 47308 47308 47308 49673 47308 47308 47308 49673 579523No.6 17.7 34615 36263 32967 32967 32967 32967 32967 34615 32967 32967 32967 34615 403841Total 144.7 537542 563139 511945 511945 511945 511945 511945 537542 511945 511945 511945 537542 6271322Cost of goods sold 376279 394197 358361 358361 358361 358361 358361 376279 358361 358361 358361 376279 4389925

Sale

Year 2

Sale volume

Year 2

Decrease 15%

130

Year 3

Year 4

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 4,302.42 4,507.30 4,097.54 4,097.54 4,097.54 4,097.54 4,097.54 4,302.42 4,097.54 4,097.54 4,097.54 4,302.42 50,194.91 A 5.70 5,736.56 6,009.73 5,463.39 5,463.39 5,463.39 5,463.39 5,463.39 5,736.56 5,463.39 5,463.39 5,463.39 5,736.56 66,926.55 B 7.70 5,736.56 6,009.73 5,463.39 5,463.39 5,463.39 5,463.39 5,463.39 5,736.56 5,463.39 5,463.39 5,463.39 5,736.56 66,926.55 C 10.70 5,736.56 6,009.73 5,463.39 5,463.39 5,463.39 5,463.39 5,463.39 5,736.56 5,463.39 5,463.39 5,463.39 5,736.56 66,926.55 D 14.70 2,868.28 3,004.87 2,731.70 2,731.70 2,731.70 2,731.70 2,731.70 2,868.28 2,731.70 2,731.70 2,731.70 2,868.28 33,463.28 E 19.70 2,868.28 3,004.87 2,731.70 2,731.70 2,731.70 2,731.70 2,731.70 2,868.28 2,731.70 2,731.70 2,731.70 2,868.28 33,463.28 F 22.70 1,434.14 1,502.43 1,365.85 1,365.85 1,365.85 1,365.85 1,365.85 1,434.14 1,365.85 1,365.85 1,365.85 1,434.14 16,731.64 Normal Carton - - - - - - - - - - - - No.1 4.30 12,907.26 13,521.90 12,292.63 12,292.63 12,292.63 12,292.63 12,292.63 12,907.26 12,292.63 12,292.63 12,292.63 12,907.26 150,584.74 No.2 5.70 10,756.05 11,268.25 10,243.86 10,243.86 10,243.86 10,243.86 10,243.86 10,756.05 10,243.86 10,243.86 10,243.86 10,756.05 125,487.29 No.3 7.70 8,604.84 9,014.60 8,195.09 8,195.09 8,195.09 8,195.09 8,195.09 8,604.84 8,195.09 8,195.09 8,195.09 8,604.84 100,389.83 No.4 10.70 4,302.42 4,507.30 4,097.54 4,097.54 4,097.54 4,097.54 4,097.54 4,302.42 4,097.54 4,097.54 4,097.54 4,302.42 50,194.91 No.5 12.70 4,302.42 4,507.30 4,097.54 4,097.54 4,097.54 4,097.54 4,097.54 4,302.42 4,097.54 4,097.54 4,097.54 4,302.42 50,194.91 No.6 17.70 2,151.21 2,253.65 2,048.77 2,048.77 2,048.77 2,048.77 2,048.77 2,151.21 2,048.77 2,048.77 2,048.77 2,151.21 25,097.46 Total 144.70 71,707.02 75,121.64 68,292.40 68,292.40 68,292.40 68,292.40 68,292.40 71,707.02 68,292.40 68,292.40 68,292.40 71,707.02 836,581.90

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 20221 21184 19258 19258 19258 19258 19258 20221 19258 19258 19258 20221 235916A 5.7 32698 34255 31141 31141 31141 31141 31141 32698 31141 31141 31141 32698 381481B 7.7 44172 46275 42068 42068 42068 42068 42068 44172 42068 42068 42068 44172 515334C 10.7 61381 64304 58458 58458 58458 58458 58458 61381 58458 58458 58458 61381 716114D 14.7 42164 44172 40156 40156 40156 40156 40156 42164 40156 40156 40156 42164 491910E 19.7 56505 59196 53814 53814 53814 53814 53814 56505 53814 53814 53814 56505 659227F 22.7 32555 34105 31005 31005 31005 31005 31005 32555 31005 31005 31005 32555 379808Normal Carton 0 0 0 0 0 0 0 0 0 0 0 0 0No.1 4.3 55501 58144 52858 52858 52858 52858 52858 55501 52858 52858 52858 55501 647514No.2 5.7 61310 64229 58390 58390 58390 58390 58390 61310 58390 58390 58390 61310 715278No.3 7.7 66257 69412 63102 63102 63102 63102 63102 66257 63102 63102 63102 66257 773002No.4 10.7 46036 48228 43844 43844 43844 43844 43844 46036 43844 43844 43844 46036 537086No.5 12.7 54641 57243 52039 52039 52039 52039 52039 54641 52039 52039 52039 54641 637475No.6 17.7 38076 39890 36263 36263 36263 36263 36263 38076 36263 36263 36263 38076 444225Total 144.7 591296 619453 563139 563139 563139 563139 563139 591296 563139 563139 563139 591296 6898454Cost of goods sold 413907 433617 394197 394197 394197 394197 394197 413907 394197 394197 394197 413907 4828918

Decrease 15%

Sale volume

Year 3

Sale

Year 3

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.70 4,732.66 4,958.03 4,507.30 4,507.30 4,507.30 4,507.30 4,507.30 4,732.66 4,507.30 4,507.30 4,507.30 4,732.66 55,214.41 A 5.70 6,310.22 6,610.70 6,009.73 6,009.73 6,009.73 6,009.73 6,009.73 6,310.22 6,009.73 6,009.73 6,009.73 6,310.22 73,619.21 B 7.70 6,310.22 6,610.70 6,009.73 6,009.73 6,009.73 6,009.73 6,009.73 6,310.22 6,009.73 6,009.73 6,009.73 6,310.22 73,619.21 C 10.70 6,310.22 6,610.70 6,009.73 6,009.73 6,009.73 6,009.73 6,009.73 6,310.22 6,009.73 6,009.73 6,009.73 6,310.22 73,619.21 D 14.70 3,155.11 3,305.35 3,004.87 3,004.87 3,004.87 3,004.87 3,004.87 3,155.11 3,004.87 3,004.87 3,004.87 3,155.11 36,809.60 E 19.70 3,155.11 3,305.35 3,004.87 3,004.87 3,004.87 3,004.87 3,004.87 3,155.11 3,004.87 3,004.87 3,004.87 3,155.11 36,809.60 F 22.70 1,577.55 1,652.68 1,502.43 1,502.43 1,502.43 1,502.43 1,502.43 1,577.55 1,502.43 1,502.43 1,502.43 1,577.55 18,404.80 Normal Carton - - - - - - - - - - - - No.1 4.30 14,197.99 14,874.08 13,521.90 13,521.90 13,521.90 13,521.90 13,521.90 14,197.99 13,521.90 13,521.90 13,521.90 14,197.99 165,643.22 No.2 5.70 11,831.66 12,395.07 11,268.25 11,268.25 11,268.25 11,268.25 11,268.25 11,831.66 11,268.25 11,268.25 11,268.25 11,831.66 138,036.01 No.3 7.70 9,465.33 9,916.06 9,014.60 9,014.60 9,014.60 9,014.60 9,014.60 9,465.33 9,014.60 9,014.60 9,014.60 9,465.33 110,428.81 No.4 10.70 4,732.66 4,958.03 4,507.30 4,507.30 4,507.30 4,507.30 4,507.30 4,732.66 4,507.30 4,507.30 4,507.30 4,732.66 55,214.41 No.5 12.70 4,732.66 4,958.03 4,507.30 4,507.30 4,507.30 4,507.30 4,507.30 4,732.66 4,507.30 4,507.30 4,507.30 4,732.66 55,214.41 No.6 17.70 2,366.33 2,479.01 2,253.65 2,253.65 2,253.65 2,253.65 2,253.65 2,366.33 2,253.65 2,253.65 2,253.65 2,366.33 27,607.20 Total 144.70 78,877.72 82,633.80 75,121.64 75,121.64 75,121.64 75,121.64 75,121.64 78,877.72 75,121.64 75,121.64 75,121.64 78,877.72 920,240.09

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 22244 23303 21184 21184 21184 21184 21184 22244 21184 21184 21184 22244 259508A 5.7 35968 37681 34255 34255 34255 34255 34255 35968 34255 34255 34255 35968 419629B 7.7 48589 50902 46275 46275 46275 46275 46275 48589 46275 46275 46275 48589 566868C 10.7 67519 70735 64304 64304 64304 64304 64304 67519 64304 64304 64304 67519 787726D 14.7 46380 48589 44172 44172 44172 44172 44172 46380 44172 44172 44172 46380 541101E 19.7 62156 65115 59196 59196 59196 59196 59196 62156 59196 59196 59196 62156 725149F 22.7 35810 37516 34105 34105 34105 34105 34105 35810 34105 34105 34105 35810 417789Normal Carton 0 0 0 0 0 0 0 0 0 0 0 0 0No.1 4.3 61051 63959 58144 58144 58144 58144 58144 61051 58144 58144 58144 61051 712266No.2 5.7 67440 70652 64229 64229 64229 64229 64229 67440 64229 64229 64229 67440 786805No.3 7.7 72883 76354 69412 69412 69412 69412 69412 72883 69412 69412 69412 72883 850302No.4 10.7 50639 53051 48228 48228 48228 48228 48228 50639 48228 48228 48228 50639 590794No.5 12.7 60105 62967 57243 57243 57243 57243 57243 60105 57243 57243 57243 60105 701223No.6 17.7 41884 43879 39890 39890 39890 39890 39890 41884 39890 39890 39890 41884 488647Total 144.7 650426 681398 619453 619453 619453 619453 619453 650426 619453 619453 619453 650426 7588300Cost of goods sold 455298 476979 433617 433617 433617 433617 433617 455298 433617 433617 433617 455298 5311810

Sale

Year 4

Sale volume

Year 4

Decrease 15%

131

Year 5

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 5,205.93 5,453.83 4,958.03 4,958.03 4,958.03 4,958.03 4,958.03 5,205.93 4,958.03 4,958.03 4,958.03 5,205.93 60,735.85 A 5.7 6,941.24 7,271.77 6,610.70 6,610.70 6,610.70 6,610.70 6,610.70 6,941.24 6,610.70 6,610.70 6,610.70 6,941.24 80,981.13 B 7.7 6,941.24 7,271.77 6,610.70 6,610.70 6,610.70 6,610.70 6,610.70 6,941.24 6,610.70 6,610.70 6,610.70 6,941.24 80,981.13 C 10.7 6,941.24 7,271.77 6,610.70 6,610.70 6,610.70 6,610.70 6,610.70 6,941.24 6,610.70 6,610.70 6,610.70 6,941.24 80,981.13 D 14.7 3,470.62 3,635.89 3,305.35 3,305.35 3,305.35 3,305.35 3,305.35 3,470.62 3,305.35 3,305.35 3,305.35 3,470.62 40,490.56 E 19.7 3,470.62 3,635.89 3,305.35 3,305.35 3,305.35 3,305.35 3,305.35 3,470.62 3,305.35 3,305.35 3,305.35 3,470.62 40,490.56 F 22.7 1,735.31 1,817.94 1,652.68 1,652.68 1,652.68 1,652.68 1,652.68 1,735.31 1,652.68 1,652.68 1,652.68 1,735.31 20,245.28 Normal Carton - - - - - - - - - - - - No.1 4.3 15,617.79 16,361.49 14,874.08 14,874.08 14,874.08 14,874.08 14,874.08 15,617.79 14,874.08 14,874.08 14,874.08 15,617.79 182,207.54 No.2 5.7 13,014.82 13,634.58 12,395.07 12,395.07 12,395.07 12,395.07 12,395.07 13,014.82 12,395.07 12,395.07 12,395.07 13,014.82 151,839.61 No.3 7.7 10,411.86 10,907.66 9,916.06 9,916.06 9,916.06 9,916.06 9,916.06 10,411.86 9,916.06 9,916.06 9,916.06 10,411.86 121,471.69 No.4 10.7 5,205.93 5,453.83 4,958.03 4,958.03 4,958.03 4,958.03 4,958.03 5,205.93 4,958.03 4,958.03 4,958.03 5,205.93 60,735.85 No.5 12.7 5,205.93 5,453.83 4,958.03 4,958.03 4,958.03 4,958.03 4,958.03 5,205.93 4,958.03 4,958.03 4,958.03 5,205.93 60,735.85 No.6 17.7 2,602.96 2,726.92 2,479.01 2,479.01 2,479.01 2,479.01 2,479.01 2,602.96 2,479.01 2,479.01 2,479.01 2,602.96 30,367.92 Total 144.70 86,765.49 90,897.18 82,633.80 82,633.80 82,633.80 82,633.80 82,633.80 86,765.49 82,633.80 82,633.80 82,633.80 86,765.49 1,012,264.10

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Type of Ready-Made CartonO 4.7 24468 25633 23303 23303 23303 23303 23303 24468 23303 23303 23303 24468 285458A 5.7 39565 41449 37681 37681 37681 37681 37681 39565 37681 37681 37681 39565 461592B 7.7 53448 55993 50902 50902 50902 50902 50902 53448 50902 50902 50902 53448 623555C 10.7 74271 77808 70735 70735 70735 70735 70735 74271 70735 70735 70735 74271 866498D 14.7 51018 53448 48589 48589 48589 48589 48589 51018 48589 48589 48589 51018 595211E 19.7 68371 71627 65115 65115 65115 65115 65115 68371 65115 65115 65115 68371 797664F 22.7 39392 41267 37516 37516 37516 37516 37516 39392 37516 37516 37516 39392 459568Normal Carton 0 0 0 0 0 0 0 0 0 0 0 0 0No.1 4.3 67156 70354 63959 63959 63959 63959 63959 67156 63959 63959 63959 67156 783492No.2 5.7 74184 77717 70652 70652 70652 70652 70652 74184 70652 70652 70652 74184 865486No.3 7.7 80171 83989 76354 76354 76354 76354 76354 80171 76354 76354 76354 80171 935332No.4 10.7 55703 58356 53051 53051 53051 53051 53051 55703 53051 53051 53051 55703 649874No.5 12.7 66115 69264 62967 62967 62967 62967 62967 66115 62967 62967 62967 66115 771345No.6 17.7 46072 48266 43879 43879 43879 43879 43879 46072 43879 43879 43879 46072 537512Total 144.7 715468 749538 681398 681398 681398 681398 681398 715468 681398 681398 681398 715468 8347130Cost of goods sold 500828 524677 476979 476979 476979 476979 476979 500828 476979 476979 476979 500828 5842991

Decrease 15%

Sale

Year 5

Sale volume

Year 5

132

Sale Risk : Income Statement

If sale decrease 5%

Year 1

Year1 Year2 Year3 Year4 Year5

Normal 6707296 7378027 8115830 8927410 9820151

Decrease 5% 6371931.58 7009124.74 7710037.21 8481040.93 9329145.03

Decrease 10% 6036566.76 6640223.44 7304245.78 8034670.36 8838137.39

Decrease 15% 5701201.94 6271322.13 6898454.35 7588299.78 8347129.76

0

2000000

4000000

6000000

8000000

10000000

12000000Ba

htSale Decrease

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 546165.56 572173.45 520157.68 520157.68 520157.68 520157.68 520157.68 546165.56 520157.68 520157.68 520157.68 546165.56 6371931.58Cost of good 382315.89 400521.41 364110.38 364110.38 364110.38 364110.38 364110.38 382315.89 364110.38 364110.38 364110.38 382315.89 4460352.11Gross Profit 163849.67 171652.03 156047.30 156047.30 156047.30 156047.30 156047.30 163849.67 156047.30 156047.30 156047.30 163849.67 1911579.47Administrativ 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 1449440.64Selling expen 82466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122380.04Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -68777.05 14025.31 3420.58 3420.58 3420.58 3420.58 3420.58 9832.95 3420.58 3420.58 3420.58 4832.95 -12721.17Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -68777.05 14025.31 3420.58 3420.58 3420.58 3420.58 3420.58 9832.95 3420.58 3420.58 3420.58 4832.95 -12721.17Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -68777.05 14025.31 3420.58 3420.58 3420.58 3420.58 3420.58 9832.95 3420.58 3420.58 3420.58 4832.95 -12721.17Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Retain Earnin -68777.05 14025.31 3420.58 3420.58 3420.58 3420.58 3420.58 9832.95 3420.58 3420.58 3420.58 4832.95 -12721.17

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

133

Year 2

Year 3

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 600782.12 629390.79 572173.45 572173.45 572173.45 572173.45 572173.45 600782.12 572173.45 572173.45 572173.45 600782.12 7009124.74Cost of good 420547.48 440573.55 400521.41 400521.41 400521.41 400521.41 400521.41 420547.48 400521.41 400521.41 400521.41 420547.48 4906387.32Gross Profit 180234.64 188817.24 171652.03 171652.03 171652.03 171652.03 171652.03 180234.64 171652.03 171652.03 171652.03 180234.64 2102737.42Administrativ 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 1478548.20Selling expen 118490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202300.04Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -90841.71 8436.89 16519.68 16519.68 16519.68 16519.68 16519.68 22408.29 16519.68 -3640.32 16519.68 17408.29 69409.22Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -90841.71 8436.89 16519.68 16519.68 16519.68 16519.68 16519.68 22408.29 16519.68 -3640.32 16519.68 17408.29 69409.22Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -90841.71 8436.89 16519.68 16519.68 16519.68 16519.68 16519.68 22408.29 16519.68 -3640.32 16519.68 17408.29 69409.22Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 20822.77Retan earning -90841.71 8436.89 16519.68 16519.68 16519.68 16519.68 16519.68 22408.29 16519.68 -3640.32 16519.68 17408.29 48586.45

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 660860.33 692329.87 629390.79 629390.79 629390.79 629390.79 629390.79 660860.33 629390.79 629390.79 629390.79 660860.33 7710037.21Cost of good 462602.23 484630.91 440573.55 440573.55 440573.55 440573.55 440573.55 462602.23 440573.55 440573.55 440573.55 462602.23 5397026.05Gross Profit 198258.10 207698.96 188817.24 188817.24 188817.24 188817.24 188817.24 198258.10 188817.24 188817.24 188817.24 198258.10 2313011.16Administrativ 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 1507996.80Selling expen 136348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220923.64Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -93130.30 24767.76 31142.84 31142.84 31142.84 31142.84 31142.84 37995.30 31142.84 10982.84 31142.84 32995.30 231610.76Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -93130.30 24767.76 31142.84 31142.84 31142.84 31142.84 31142.84 37995.30 31142.84 10982.84 31142.84 32995.30 231610.76Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 34741.61Net income -93130.30 24767.76 31142.84 31142.84 31142.84 31142.84 31142.84 37995.30 31142.84 10982.84 31142.84 32995.30 196869.15Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 59060.74Retan earning -93130.30 24767.76 31142.84 31142.84 31142.84 31142.84 31142.84 37995.30 31142.84 10982.84 31142.84 32995.30 137808.40

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 726946.37 761562.86 692329.87 692329.87 692329.87 692329.87 692329.87 726946.37 692329.87 692329.87 692329.87 726946.37 8481040.93Cost of good 508862.46 533094.00 484630.91 484630.91 484630.91 484630.91 484630.91 508862.46 484630.91 484630.91 484630.91 508862.46 5936728.65Gross Profit 218083.91 228468.86 207698.96 207698.96 207698.96 207698.96 207698.96 218083.91 207698.96 207698.96 207698.96 218083.91 2544312.28Administrativ 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 1538156.76Selling expen 154499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240711.29Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -93969.07 42917.63 47414.23 47414.23 47414.23 47414.23 47414.23 54930.93 47414.23 27254.23 47414.23 49930.93 412964.27Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -93969.07 42917.63 47414.23 47414.23 47414.23 47414.23 47414.23 54930.93 47414.23 27254.23 47414.23 49930.93 412964.27Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 61944.64Net income -93969.07 42917.63 47414.23 47414.23 47414.23 47414.23 47414.23 54930.93 47414.23 27254.23 47414.23 49930.93 351019.63Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 105305.89Retan earning -93969.07 42917.63 47414.23 47414.23 47414.23 47414.23 47414.23 54930.93 47414.23 27254.23 47414.23 49930.93 245713.74

Product Box Limited PartnershipsIncome StatementsAt the ended of year 4

134

Year 5

If income decrease 10 %

Year 1

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 799641.00 837719.15 761562.86 761562.86 761562.86 761562.86 761562.86 799641.00 761562.86 761562.86 761562.86 799641.00 9329145.03Cost of good 559748.70 586403.40 533094.00 533094.00 533094.00 533094.00 533094.00 559748.70 533094.00 533094.00 533094.00 559748.70 6530401.52Gross Profit 239892.30 251315.74 228468.86 228468.86 228468.86 228468.86 228468.86 239892.30 228468.86 228468.86 228468.86 239892.30 2798743.51Administrativ 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 1568927.04Selling expen 178312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269822.84Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -98537.22 60081.82 65512.94 65512.94 65512.94 65512.94 65512.94 73512.78 65512.94 45352.94 65512.94 68512.78 607513.67Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -98537.22 60081.82 65512.94 65512.94 65512.94 65512.94 65512.94 73512.78 65512.94 45352.94 65512.94 68512.78 607513.67Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 91127.05Net income -98537.22 60081.82 65512.94 65512.94 65512.94 65512.94 65512.94 73512.78 65512.94 45352.94 65512.94 68512.78 516386.62Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 154915.99Retan earning -98537.22 60081.82 65512.94 65512.94 65512.94 65512.94 65512.94 73512.78 65512.94 45352.94 65512.94 68512.78 361470.63

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 517420.01 542059.06 492780.96 492780.96 492780.96 492780.96 492780.96 517420.01 492780.96 492780.96 492780.96 517420.01 6036566.76Cost of good 362194.01 379441.34 344946.67 344946.67 344946.67 344946.67 344946.67 362194.01 344946.67 344946.67 344946.67 362194.01 4225596.73Gross Profit 155226.00 162617.72 147834.29 147834.29 147834.29 147834.29 147834.29 155226.00 147834.29 147834.29 147834.29 155226.00 1810970.03Administrativ 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 1449440.64Selling expen 82466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122380.04Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -77400.72 4991.00 -4792.43 -4792.43 -4792.43 -4792.43 -4792.43 1209.28 -4792.43 -4792.43 -4792.43 -3790.72 -113330.61Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -77400.72 4991.00 -4792.43 -4792.43 -4792.43 -4792.43 -4792.43 1209.28 -4792.43 -4792.43 -4792.43 -3790.72 -113330.61Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -77400.72 4991.00 -4792.43 -4792.43 -4792.43 -4792.43 -4792.43 1209.28 -4792.43 -4792.43 -4792.43 -3790.72 -113330.61Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Retain Earnin -77400.72 4991.00 -4792.43 -4792.43 -4792.43 -4792.43 -4792.43 1209.28 -4792.43 -4792.43 -4792.43 -3790.72 -113330.61

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 569162.01 596264.96 542059.06 542059.06 542059.06 542059.06 542059.06 569162.01 542059.06 542059.06 542059.06 569162.01 6640223.44Cost of good 398413.41 417385.47 379441.34 379441.34 379441.34 379441.34 379441.34 398413.41 379441.34 379441.34 379441.34 398413.41 4648156.41Gross Profit 170748.60 178879.49 162617.72 162617.72 162617.72 162617.72 162617.72 170748.60 162617.72 162617.72 162617.72 170748.60 1992067.03Administrativ 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 1478548.20Selling expen 118490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202300.04Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -100327.75 -1500.86 7485.37 7485.37 7485.37 7485.37 7485.37 12922.25 7485.37 -12674.63 7485.37 7922.25 -41261.17Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -100327.75 -1500.86 7485.37 7485.37 7485.37 7485.37 7485.37 12922.25 7485.37 -12674.63 7485.37 7922.25 -41261.17Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -100327.75 -1500.86 7485.37 7485.37 7485.37 7485.37 7485.37 12922.25 7485.37 -12674.63 7485.37 7922.25 -41261.17Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Retan earning -100327.75 -1500.86 7485.37 7485.37 7485.37 7485.37 7485.37 12922.25 7485.37 -12674.63 7485.37 7922.25 -41261.17

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

135

Year 3

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 626078.21 655891.46 596264.96 596264.96 596264.96 596264.96 596264.96 626078.21 596264.96 596264.96 596264.96 626078.21 7304245.78Cost of good 438254.75 459124.02 417385.47 417385.47 417385.47 417385.47 417385.47 438254.75 417385.47 417385.47 417385.47 438254.75 5112972.05Gross Profit 187823.46 196767.44 178879.49 178879.49 178879.49 178879.49 178879.49 187823.46 178879.49 178879.49 178879.49 187823.46 2191273.73Administrativ 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 1507996.80Selling expen 136348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220923.64Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -103564.94 13836.24 21205.09 21205.09 21205.09 21205.09 21205.09 27560.66 21205.09 1045.09 21205.09 22560.66 109873.33Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -103564.94 13836.24 21205.09 21205.09 21205.09 21205.09 21205.09 27560.66 21205.09 1045.09 21205.09 22560.66 109873.33Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -103564.94 13836.24 21205.09 21205.09 21205.09 21205.09 21205.09 27560.66 21205.09 1045.09 21205.09 22560.66 109873.33Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 32962.00Retan earning -103564.94 13836.24 21205.09 21205.09 21205.09 21205.09 21205.09 27560.66 21205.09 1045.09 21205.09 22560.66 76911.33

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 688686.03 721480.60 655891.46 655891.46 655891.46 655891.46 655891.46 688686.03 655891.46 655891.46 655891.46 688686.03 8034670.36Cost of good 482080.22 505036.42 459124.02 459124.02 459124.02 459124.02 459124.02 482080.22 459124.02 459124.02 459124.02 482080.22 5624269.25Gross Profit 206605.81 216444.18 196767.44 196767.44 196767.44 196767.44 196767.44 206605.81 196767.44 196767.44 196767.44 206605.81 2410401.11Administrativ 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 1538156.76Selling expen 154499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240711.29Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -105447.17 30892.95 36482.71 36482.71 36482.71 36482.71 36482.71 43452.83 36482.71 16322.71 36482.71 38452.83 279053.10Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -105447.17 30892.95 36482.71 36482.71 36482.71 36482.71 36482.71 43452.83 36482.71 16322.71 36482.71 38452.83 279053.10Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 41857.96Net income -105447.17 30892.95 36482.71 36482.71 36482.71 36482.71 36482.71 43452.83 36482.71 16322.71 36482.71 38452.83 237195.13Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 71158.54Retan earning -105447.17 30892.95 36482.71 36482.71 36482.71 36482.71 36482.71 43452.83 36482.71 16322.71 36482.71 38452.83 166036.59

Product Box Limited PartnershipsIncome StatementsAt the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 757554.63 793628.66 721480.60 721480.60 721480.60 721480.60 721480.60 757554.63 721480.60 721480.60 721480.60 757554.63 8838137.39Cost of good 530288.24 555540.06 505036.42 505036.42 505036.42 505036.42 505036.42 530288.24 505036.42 505036.42 505036.42 530288.24 6186696.18Gross Profit 227266.39 238088.60 216444.18 216444.18 216444.18 216444.18 216444.18 227266.39 216444.18 216444.18 216444.18 227266.39 2651441.22Administrativ 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 1568927.04Selling expen 178312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269822.84Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -111163.13 46854.68 53488.26 53488.26 53488.26 53488.26 53488.26 60886.87 53488.26 33328.26 53488.26 55886.87 460211.38Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -111163.13 46854.68 53488.26 53488.26 53488.26 53488.26 53488.26 60886.87 53488.26 33328.26 53488.26 55886.87 460211.38Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69031.71Net income -111163.13 46854.68 53488.26 53488.26 53488.26 53488.26 53488.26 60886.87 53488.26 33328.26 53488.26 55886.87 391179.67Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 117353.90Retan earning -111163.13 46854.68 53488.26 53488.26 53488.26 53488.26 53488.26 60886.87 53488.26 33328.26 53488.26 55886.87 273825.77

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

136

If sale decrease 15% Year 1

Year 2

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 488674.45 511944.66 465404.24 465404.24 465404.24 465404.24 465404.24 488674.45 465404.24 465404.24 465404.24 488674.45 5701201.94Cost of good 342072.12 358361.26 325782.97 325782.97 325782.97 325782.97 325782.97 342072.12 325782.97 325782.97 325782.97 342072.12 3990841.36Gross Profit 146602.34 153583.40 139621.27 139621.27 139621.27 139621.27 139621.27 146602.34 139621.27 139621.27 139621.27 146602.34 1710360.58Administrativ 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 120786.72 1449440.64Selling expen 82466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122380.04Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -86024.38 -4043.32 -13005.45 -13005.45 -13005.45 -13005.45 -13005.45 -7414.38 -13005.45 -13005.45 -13005.45 -12414.38 -213940.06Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -86024.38 -4043.32 -13005.45 -13005.45 -13005.45 -13005.45 -13005.45 -7414.38 -13005.45 -13005.45 -13005.45 -12414.38 -213940.06Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -86024.38 -4043.32 -13005.45 -13005.45 -13005.45 -13005.45 -13005.45 -7414.38 -13005.45 -13005.45 -13005.45 -12414.38 -213940.06Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Retain Earnin -86024.38 -4043.32 -13005.45 -13005.45 -13005.45 -13005.45 -13005.45 -7414.38 -13005.45 -13005.45 -13005.45 -12414.38 -213940.06

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 537541.90 563139.13 511944.66 511944.66 511944.66 511944.66 511944.66 537541.90 511944.66 511944.66 511944.66 537541.90 6271322.13Cost of good 376279.33 394197.39 358361.26 358361.26 358361.26 358361.26 358361.26 376279.33 358361.26 358361.26 358361.26 376279.33 4389925.49Gross Profit 161262.57 168941.74 153583.40 153583.40 153583.40 153583.40 153583.40 161262.57 153583.40 153583.40 153583.40 161262.57 1881396.64Administrativ 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 123212.35 1478548.20Selling expen 118490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202300.04Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -109813.78 -11438.61 -1548.95 -1548.95 -1548.95 -1548.95 -1548.95 3436.22 -1548.95 -21708.95 -1548.95 -1563.78 -151931.56Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -109813.78 -11438.61 -1548.95 -1548.95 -1548.95 -1548.95 -1548.95 3436.22 -1548.95 -21708.95 -1548.95 -1563.78 -151931.56Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -109813.78 -11438.61 -1548.95 -1548.95 -1548.95 -1548.95 -1548.95 3436.22 -1548.95 -21708.95 -1548.95 -1563.78 -151931.56Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Retan earning -109813.78 -11438.61 -1548.95 -1548.95 -1548.95 -1548.95 -1548.95 3436.22 -1548.95 -21708.95 -1548.95 -1563.78 -151931.56

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 591296.09 619453.04 563139.13 563139.13 563139.13 563139.13 563139.13 591296.09 563139.13 563139.13 563139.13 591296.09 6898454.35Cost of good 413907.26 433617.13 394197.39 394197.39 394197.39 394197.39 394197.39 413907.26 394197.39 394197.39 394197.39 413907.26 4828918.04Gross Profit 177388.83 185835.91 168941.74 168941.74 168941.74 168941.74 168941.74 177388.83 168941.74 168941.74 168941.74 177388.83 2069536.30Administrativ 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 125666.40 1507996.80Selling expen 136348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220923.64Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -113999.57 2904.71 11267.34 11267.34 11267.34 11267.34 11267.34 17126.03 11267.34 -8892.66 11267.34 12126.03 -11864.10Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -113999.57 2904.71 11267.34 11267.34 11267.34 11267.34 11267.34 17126.03 11267.34 -8892.66 11267.34 12126.03 -11864.10Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -113999.57 2904.71 11267.34 11267.34 11267.34 11267.34 11267.34 17126.03 11267.34 -8892.66 11267.34 12126.03 -11864.10Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Retan earning -113999.57 2904.71 11267.34 11267.34 11267.34 11267.34 11267.34 17126.03 11267.34 -8892.66 11267.34 12126.03 -11864.10

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

137

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 650425.70 681398.35 619453.04 619453.04 619453.04 619453.04 619453.04 650425.70 619453.04 619453.04 619453.04 650425.70 7588299.78Cost of good 455297.99 476978.84 433617.13 433617.13 433617.13 433617.13 433617.13 455297.99 433617.13 433617.13 433617.13 455297.99 5311809.85Gross Profit 195127.71 204419.50 185835.91 185835.91 185835.91 185835.91 185835.91 195127.71 185835.91 185835.91 185835.91 195127.71 2276489.93Administrativ 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 128179.73 1538156.76Selling expen 154499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240711.29Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -116925.27 18868.27 25551.18 25551.18 25551.18 25551.18 25551.18 31974.73 25551.18 5391.18 25551.18 26974.73 145141.92Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -116925.27 18868.27 25551.18 25551.18 25551.18 25551.18 25551.18 31974.73 25551.18 5391.18 25551.18 26974.73 145141.92Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Net income -116925.27 18868.27 25551.18 25551.18 25551.18 25551.18 25551.18 31974.73 25551.18 5391.18 25551.18 26974.73 145141.92Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 43542.58Retan earning -116925.27 18868.27 25551.18 25551.18 25551.18 25551.18 25551.18 31974.73 25551.18 5391.18 25551.18 26974.73 101599.35

Product Box Limited PartnershipsIncome Statements

At the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 715468.27 749538.18 681398.35 681398.35 681398.35 681398.35 681398.35 715468.27 681398.35 681398.35 681398.35 715468.27 8347129.76Cost of good 500827.79 524676.73 476978.84 476978.84 476978.84 476978.84 476978.84 500827.79 476978.84 476978.84 476978.84 500827.79 5842990.83Gross Profit 214640.48 224861.45 204419.50 204419.50 204419.50 204419.50 204419.50 214640.48 204419.50 204419.50 204419.50 214640.48 2504138.93Administrativ 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 130743.92 1568927.04Selling expen 178312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269822.84Depreciation 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 29373.33 352479.96Earnings befo -123789.04 33627.53 41463.58 41463.58 41463.58 41463.58 41463.58 48260.96 41463.58 21303.58 41463.58 43260.96 312909.09Interest paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00Taxable incom -123789.04 33627.53 41463.58 41463.58 41463.58 41463.58 41463.58 48260.96 41463.58 21303.58 41463.58 43260.96 312909.09Taxes (15%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46936.36Net income -123789.04 33627.53 41463.58 41463.58 41463.58 41463.58 41463.58 48260.96 41463.58 21303.58 41463.58 43260.96 265972.72Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 79791.82Retan earning -123789.04 33627.53 41463.58 41463.58 41463.58 41463.58 41463.58 48260.96 41463.58 21303.58 41463.58 43260.96 186180.91

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

138

Sale Risk :Balance sheet If sale decrease 5% Year 1

Year 2

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,554,789 3,655,259.00 3,677,994.00 3,703,652.00 3,729,310.00 3,754,969.00 3,780,627.00 3,808,857.00 3,831,944.00 3,857,602.00 3,883,260.00 3,906,490.00 3,028,751.00

Inventory 80,642 84483 76,802 76,802 76,802 76,802 76,802 80,642 76,802 76,802 76,802 80,642 940,828

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,637,331 3,745,242 3,759,746 3,784,854 3,809,962 3,835,071 3,860,179 3,891,699 3,910,396 3,935,504 3,960,612 3,987,132 3,969,579Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,931,223 8,014,025 8,003,421 8,003,421 8,003,421 8,003,421 8,003,421 8,009,833 8,003,421 8,003,421 8,003,421 8,004,832 7,987,279

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -68,777.05 14,025.31 3,420.58 3,420.58 3,420.58 3,420.58 3,420.58 9,832.95 3,420.58 3,420.58 3,420.58 4,832.95 -12,721.17

Total liabilit 7,931,223 8,014,025 8,003,421 8,003,421 8,003,421 8,003,421 8,003,421 8,009,833 8,003,421 8,003,421 8,003,421 8,004,833 7,987,279

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,821,810 3,942,523.00 3,984,712.00 4,010,371.00 4,036,029.00 4,061,687.00 4,087,346.00 4,114,668.00 4,138,662.00 4,144,161.00 4,189,979.00 4,212,301.00 3,297,275.00

Inventory 88,707 92,931 84,483 84,483 84,483 84,483 84,483 88,707 84,483 84,483 84,483 88,707 1,034,911

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,916,567 4,040,954 4,074,145 4,099,254 4,124,362 4,149,470 4,174,579 4,205,575 4,224,795 4,229,744 4,275,012 4,301,008 4,332,186Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,909,158 8,008,437 8,016,520 8,016,520 8,016,520 8,016,520 8,016,520 8,022,408 8,016,520 7,996,360 8,016,520 8,017,408 8,048,586

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -90,841.71 8,436.89 16,519.68 16,519.68 16,519.68 16,519.68 16,519.68 22,408.29 16,519.68 -3,640.32 16,519.68 17,408.29 48,586.45

Total liabilit 7,909,158 8,008,437 8,016,520 8,016,520 8,016,520 8,016,520 8,016,520 8,022,408 8,016,520 7,996,360 8,016,520 8,017,408 8,048,586

Product Box Limited PartnershipsBlance Sheet

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,111,951 4,250,861.00 4,292,187.00 4,317,846.00 4,343,504.00 4,369,162.00 4,394,821.00 4,422,684.00 4,446,137.00 4,451,635.00 4,497,454.00 4,520,318.00 3,169,206.00

Inventory 97,577 102,224 92,931 92,931 92,931 92,931 92,931 97,577 92,931 92,931 92,931 97,577 1,138,402

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,215,578 4,358,585 4,390,068 4,415,177 4,440,285 4,465,393 4,490,502 4,522,461 4,540,718 4,545,666 4,590,935 4,617,895 4,307,608Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,906,870 8,024,768 8,031,143 8,031,143 8,031,143 8,031,143 8,031,143 8,037,995 8,031,143 8,010,983 8,031,143 8,032,995 8,137,808

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,130.30 24,767.76 31,142.84 31,142.84 31,142.84 31,142.84 31,142.84 37,995.30 31,142.84 10,982.84 31,142.84 32,995.30 137,808.40

Total liabilit 7,906,870 8,024,768 8,031,143 8,031,143 8,031,143 8,031,143 8,031,143 8,037,995 8,031,143 8,010,983 8,031,143 8,032,995 8,137,808

Blance SheetYear 3

Product Box Limited Partnerships

139

Year 4

Year 5

If sale decrease 10% Year1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,590,154 4,747,588.00 4,787,965.00 4,813,623.00 4,839,282.00 4,864,940.00 4,890,598.00 4,918,661.00 4,941,915.00 4,947,413.00 4,993,232.00 5,016,296.00 4,067,171.00

Inventory 107,335 112,446 102,224 102,224 102,224 102,224 102,224 107,335 102,224 102,224 102,224 107,335 1,252,243

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,703,539 4,865,534 4,895,139 4,920,247 4,945,356 4,970,464 4,995,572 5,028,196 5,045,789 5,050,737 5,096,006 5,123,631 5,319,414Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,906,031 8,042,918 8,047,414 8,047,414 8,047,414 8,047,414 8,047,414 8,054,929 8,047,414 8,027,254 8,047,414 8,049,931 8,245,714

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,969.07 42,917.63 47,414.23 47,414.23 47,414.23 47,414.23 47,414.23 54,930.93 47,414.23 27,254.23 47,414.23 49,930.93 245,713.74

Total liabilit 7,906,031 8,042,918 8,047,414 8,047,414 8,047,414 8,047,414 8,047,414 8,054,931 8,047,414 8,027,254 8,047,414 8,049,931 8,245,714

Product Box Limited PartnershipsBlance Sheet

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,251,153 5,429,808.00 5,472,142.00 5,497,800.00 5,523,458.00 5,549,117.00 5,574,775.00 5,602,811.00 5,626,092.00 5,631,590.00 5,677,408.00 5,700,444.00 4,734,004.00

Inventory 118,069 123,691 112,446 112,446 112,446 112,446 112,446 118,069 112,446 112,446 112,446 118,069 1,377,467

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,375,272 5,558,999 5,589,538 5,614,646 5,639,754 5,664,863 5,689,971 5,723,080 5,740,188 5,745,136 5,790,404 5,818,513 6,111,471Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,901,463 8,060,082 8,065,513 8,065,513 8,065,513 8,065,513 8,065,513 8,073,513 8,065,513 8,045,353 8,065,513 8,068,513 8,361,471

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -98,537.22 60,081.82 65,512.94 65,512.94 65,512.94 65,512.94 65,512.94 73,512.78 65,512.94 45,352.94 65,512.94 68,512.78 361,470.63

Total liabilit 7,901,463 8,060,082 8,065,513 8,065,513 8,065,513 8,065,513 8,065,513 8,073,513 8,065,513 8,045,353 8,065,513 8,068,513 8,361,471

Product Box Limited PartnershipsBlance Sheet

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,521,893 3,625,145.00 3,650,617.00 3,676,275.00 3,701,934.00 3,727,592.00 3,753,250.00 3,780,112.00 3,804,567.00 3,830,225.00 3,855,884.00 3,877,745.00 2,693,386.00

Inventory 109,388 114597 104,179 104,179 104,179 104,179 104,179 109,388 104,179 104,179 104,179 109,388 1,276,193

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,637,331 3,745,242 3,759,746 3,784,854 3,809,963 3,835,071 3,860,179 3,891,700 3,910,396 3,935,504 3,960,613 3,987,133 3,969,579Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,931,223 8,014,025 8,003,421 8,003,421 8,003,421 8,003,421 8,003,421 8,009,833 8,003,421 8,003,421 8,003,421 8,004,833 7,987,279

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -68,777.05 14,025.31 3,420.58 3,420.58 3,420.58 3,420.58 3,420.58 9,832.95 3,420.58 3,420.58 3,420.58 4,832.95 -12,721.17

Total liabilit 7,931,223 8,014,025 8,003,421 8,003,421 8,003,421 8,003,421 8,003,421 8,009,833 8,003,421 8,003,421 8,003,421 8,004,833 7,987,279

Product Box Limited PartnershipsBlance Sheet

Year 1

140

Year2

Year3

Year4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,790,190 3,909,397.00 3,954,598.00 3,980,256.00 4,005,914.00 4,031,573.00 4,057,231.00 4,083,048.00 4,108,548.00 4,114,046.00 4,159,865.00 4,180,681.00 2,928,373.00

Inventory 120,327 126,057 114,597 114,597 114,597 114,597 114,597 120,327 114,597 114,597 114,597 120,327 1,403,813

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,916,567 4,040,954 4,074,145 4,099,253 4,124,361 4,149,470 4,174,578 4,205,575 4,224,795 4,229,743 4,275,012 4,301,008 4,332,186Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,909,158 8,008,437 8,016,520 8,016,520 8,016,519 8,016,520 8,016,520 8,022,408 8,016,520 7,996,360 8,016,520 8,017,408 8,048,586

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -90,841.71 8,436.89 16,519.68 16,519.68 16,519.68 16,519.68 16,519.68 22,408.29 16,519.68 -3,640.32 16,519.68 17,408.29 48,586.45

Total liabilit 7,909,158 8,008,437 8,016,520 8,016,520 8,016,520 8,016,520 8,016,520 8,022,408 8,016,520 7,996,360 8,016,520 8,017,408 8,048,586

Blance SheetYear 2

Product Box Limited Partnerships

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,077,169 4,214,422.00 4,259,061.00 4,284,720.00 4,310,378.00 4,336,036.00 4,361,695.00 4,387,902.00 4,413,011.00 4,418,510.00 4,464,328.00 4,485,535.00 2,763,414.00

Inventory 132,359 138,662 126,057 126,057 126,057 126,057 126,057 132,359 126,057 126,057 126,057 132,359 1,544,194

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,215,578 4,358,584 4,390,068 4,415,177 4,440,285 4,465,393 4,490,502 4,522,461 4,540,718 4,545,667 4,590,935 4,617,894 4,307,608Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,906,870 8,024,768 8,031,143 8,031,143 8,031,143 8,031,143 8,031,143 8,037,995 8,031,143 8,010,983 8,031,143 8,032,995 8,137,808

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,130.30 24,767.76 31,142.84 31,142.84 31,142.84 31,142.84 31,142.84 37,995.30 31,142.84 10,982.84 31,142.84 32,995.30 137,808.40

Total liabilit 7,906,870 8,024,768 8,031,143 8,031,143 8,031,143 8,031,143 8,031,143 8,037,995 8,031,143 8,010,983 8,031,143 8,032,995 8,137,808

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,551,894 4,707,506.00 4,751,527.00 4,777,185.00 4,802,843.00 4,828,502.00 4,854,160.00 4,880,402.00 4,905,477.00 4,910,975.00 4,956,793.00 4,978,036.00 3,620,801.00

Inventory 145,595 152,529 138,662 138,662 138,662 138,662 138,662 145,595 138,662 138,662 138,662 145,595 1,698,613

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,703,539 4,865,535 4,895,139 4,920,247 4,945,355 4,970,464 4,995,572 5,028,197 5,045,789 5,050,737 5,096,005 5,123,631 5,319,414Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,906,031 8,042,918 8,047,414 8,047,414 8,047,414 8,047,414 8,047,414 8,054,931 8,047,414 8,027,254 8,047,414 8,049,931 8,245,714

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,969.07 42,917.63 47,414.23 47,414.23 47,414.23 47,414.23 47,414.23 54,930.93 47,414.23 27,254.23 47,414.23 49,930.93 245,713.74

Total liabilit 7,906,031 8,042,918 8,047,414 8,047,414 8,047,414 8,047,414 8,047,414 8,054,931 8,047,414 8,027,254 8,047,414 8,049,931 8,245,714

Year 4

Product Box Limited PartnershipsBlance Sheet

141

Year5

If sale decrease 15 % Year 1

Year2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,209,066 5,385,717.00 5,432,059.00 5,457,718.00 5,483,376.00 5,509,034.00 5,534,693.00 5,560,725.00 5,586,009.00 5,591,508.00 5,637,326.00 5,658,358.00 4,242,996.00

Inventory 160,155 167,781 152,529 152,529 152,529 152,529 152,529 160,155 152,529 152,529 152,529 160,155 1,868,475

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,375,271 5,558,998 5,589,538 5,614,647 5,639,755 5,664,863 5,689,972 5,723,080 5,740,188 5,745,137 5,790,405 5,818,513 6,111,471Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,901,463 8,060,082 8,065,513 8,065,513 8,065,513 8,065,513 8,065,513 8,073,513 8,065,513 8,045,353 8,065,513 8,068,513 8,361,471

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -98,537.22 60,081.82 65,512.94 65,512.94 65,512.94 65,512.94 65,512.94 73,512.78 65,512.94 45,352.94 65,512.94 68,512.78 361,470.63

Total liabilit 7,901,463 8,060,082 8,065,513 8,065,513 8,065,513 8,065,513 8,065,513 8,073,513 8,065,513 8,045,353 8,065,513 8,068,513 8,361,471

Product Box Limited PartnershipsBlance Sheet

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,493,148 3,595,030.00 3,623,240.00 3,648,899.00 3,674,557.00 3,700,215.00 3,725,873.00 3,751,366.00 3,777,190.00 3,802,849.00 3,828,507.00 3,848,999.00 2,358,021.00

Inventory 138,134 144711 131,556 131,556 131,556 131,556 131,556 138,134 131,556 131,556 131,556 138,134 1,611,558

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,637,332 3,745,241 3,759,746 3,784,855 3,809,963 3,835,071 3,860,179 3,891,700 3,910,396 3,935,505 3,960,613 3,987,133 3,969,579Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,931,223 8,014,025 8,003,421 8,003,421 8,003,421 8,003,421 8,003,420 8,009,833 8,003,421 8,003,421 8,003,421 8,004,833 7,987,279

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -68,777.05 14,025.31 3,420.58 3,420.58 3,420.58 3,420.58 3,420.58 9,832.95 3,420.58 3,420.58 3,420.58 4,832.95 -12,721.17

Total liabilit 7,931,223 8,014,025 8,003,421 8,003,421 8,003,421 8,003,421 8,003,421 8,009,833 8,003,421 8,003,421 8,003,421 8,004,833 7,987,279

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,758,569 3,876,271.00 3,924,484.00 3,950,142.00 3,975,800.00 4,001,459.00 4,027,117.00 4,051,428.00 4,078,434.00 4,083,932.00 4,129,750.00 4,149,061.00 2,559,472.00

Inventory 151,947 159,182 144,711 144,711 144,711 144,711 144,711 151,947 144,711 144,711 144,711 151,947 1,772,714

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,916,566 4,040,953 4,074,145 4,099,253 4,124,361 4,149,470 4,174,578 4,205,575 4,224,795 4,229,743 4,275,011 4,301,008 4,332,186Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,909,158 8,008,437 8,016,520 8,016,520 8,016,520 8,016,520 8,016,520 8,022,408 8,016,520 7,996,360 8,016,520 8,017,408 8,048,586

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -90,841.71 8,436.89 16,519.68 16,519.68 16,519.68 16,519.68 16,519.68 22,408.29 16,519.68 -3,640.32 16,519.68 17,408.29 48,586.45

Total liabilit 7,909,158 8,008,437 8,016,520 8,016,520 8,016,520 8,016,520 8,016,520 8,022,408 8,016,520 7,996,360 8,016,520 8,017,408 8,048,586

Product Box Limited PartnershipsBlance Sheet

Year 2

142

Year3

Year4

Year5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,042,387 4,177,984.00 4,225,936.00 4,251,594.00 4,277,252.00 4,302,911.00 4,328,569.00 4,353,120.00 4,379,886.00 4,385,384.00 4,431,202.00 4,450,753.00 2,357,623.00

Inventory 167,142 175,101 159,182 159,182 159,182 159,182 159,182 167,142 159,182 159,182 159,182 167,142 1,949,985

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,215,579 4,358,585 4,390,068 4,415,176 4,440,284 4,465,393 4,490,501 4,522,462 4,540,718 4,545,666 4,590,934 4,617,895 4,307,608Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,906,870 8,024,768 8,031,143 8,031,143 8,031,143 8,031,143 8,031,143 8,037,995 8,031,143 8,010,983 8,031,143 8,032,995 8,137,808

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,130.30 24,767.76 31,142.84 31,142.84 31,142.84 31,142.84 31,142.84 37,995.30 31,142.84 10,982.84 31,142.84 32,995.30 137,808.40

Total liabilit 7,906,870 8,024,768 8,031,143 8,031,143 8,031,143 8,031,143 8,031,143 8,037,995 8,031,143 8,010,983 8,031,143 8,032,995 8,137,808

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,513,634 4,667,424.00 4,715,088.00 4,740,747.00 4,766,405.00 4,792,063.00 4,817,722.00 4,842,142.00 4,869,038.00 4,874,537.00 4,920,355.00 4,939,775.00 3,174,430.00

Inventory 183,856 192,611 175,101 175,101 175,101 175,101 175,101 183,856 175,101 175,101 175,101 183,856 2,144,984

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,703,540 4,865,535 4,895,139 4,920,248 4,945,356 4,970,464 4,995,573 5,028,198 5,045,789 5,050,738 5,096,006 5,123,631 5,319,414Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,906,031 8,042,918 8,047,414 8,047,414 8,047,414 8,047,414 8,047,414 8,054,931 8,047,414 8,027,254 8,047,414 8,049,931 8,245,714

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,969.07 42,917.63 47,414.23 47,414.23 47,414.23 47,414.23 47,414.23 54,930.93 47,414.23 27,254.23 47,414.23 49,930.93 245,713.74

Total liabilit 7,906,031 8,042,918 8,047,414 8,047,414 8,047,414 8,047,414 8,047,414 8,054,931 8,047,414 8,027,254 8,047,414 8,049,931 8,245,714

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,166,980 5,341,627.00 5,391,977.00 5,417,636.00 5,443,294.00 5,468,952.00 5,494,611.00 5,518,638.00 5,545,927.00 5,551,426.00 5,597,244.00 5,616,272.00 3,751,989.00

Inventory 202,241 211,872 192,611 192,611 192,611 192,611 192,611 202,241 192,611 192,611 192,611 202,241 2,359,482

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,375,271 5,558,999 5,589,538 5,614,647 5,639,755 5,664,863 5,689,972 5,723,079 5,740,188 5,745,137 5,790,405 5,818,513 6,111,471Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,901,463 8,060,082 8,065,513 8,065,513 8,065,513 8,065,513 8,065,513 8,073,513 8,065,513 8,045,353 8,065,513 8,068,513 8,361,471

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -98,537.22 60,081.82 65,512.94 65,512.94 65,512.94 65,512.94 65,512.94 73,512.78 65,512.94 45,352.94 65,512.94 68,512.78 361,470.63

Total liabilit 7,901,463 8,060,082 8,065,513 8,065,513 8,065,513 8,065,513 8,065,513 8,073,513 8,065,513 8,045,353 8,065,513 8,068,513 8,361,471

Product Box Limited PartnershipsBlance Sheet

Year 5

143

Cost of Goods Sold Risk

If COGS increase 5% Year 1

Year 2

Year 1 Year 2 Year 3 Year 4 Year 5

Normal 4,675,941.20 5,164,614.90 5,681,081.00 6,249,187.00 6,874,105.70

Increase 5% 4,909,738.26 5,422,845.65 5,965,135.05 6,561,646.35 7,217,810.99

Increase10% 5,143,535.32 5,681,076.39 6,249,189.10 6,874,105.70 7,561,516.27

Increase15% 5,377,332.38 5,939,307.14 6,533,243.15 7,186,565.05 7,905,221.56

0.001,000,000.002,000,000.003,000,000.004,000,000.005,000,000.006,000,000.007,000,000.008,000,000.009,000,000.00

Baht

Cost of Goods Sold Increase

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 402,437.49 442,681.68 402,437.49 402,437.49 402,437.49 402,437.49 402,437.49 422,559.59 402,437.49 402,437.49 402,437.49 422,559.59 4,909,738.26Gross Profit 172,473.51 159,606.32 145,096.51 145,096.51 145,096.51 145,096.51 145,096.51 152,351.42 145,096.51 145,096.51 145,096.51 152,351.42 1,797,557.74Administrativ 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expen 82,466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122,380.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -60,153.21 1,979.60 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -1,665.31 -7,530.21 -7,530.21 -7,530.21 -6,665.31 -126,742.90Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -60,153.21 1,979.60 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -1,665.31 -7,530.21 -7,530.21 -7,530.21 -6,665.31 -126,742.90Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -60,153.21 1,979.60 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -1,665.31 -7,530.21 -7,530.21 -7,530.21 -6,665.31 -126,742.90Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retain Earnin -60,153.21 1,979.60 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -1,665.31 -7,530.21 -7,530.21 -7,530.21 -6,665.31 -126,742.90

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 464,815.47 486,950.00 442,681.16 442,681.16 442,681.16 442,681.16 442,681.16 464,815.47 442,681.16 442,681.16 442,681.16 464,815.47 5,422,845.65Gross Profit 167,586.53 175,567.01 159,606.85 159,606.85 159,606.85 159,606.85 159,606.85 167,586.53 159,606.85 159,606.85 159,606.85 167,586.53 1,955,181.36Administrativ 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expen 118,490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202,300.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -103,489.82 -4,813.35 4,474.50 4,474.50 4,474.50 4,474.50 4,474.50 9,760.18 4,474.50 -15,685.51 4,474.50 4,760.18 -78,146.85Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -103,489.82 -4,813.35 4,474.50 4,474.50 4,474.50 4,474.50 4,474.50 9,760.18 4,474.50 -15,685.51 4,474.50 4,760.18 -78,146.85Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -103,489.82 -4,813.35 4,474.50 4,474.50 4,474.50 4,474.50 4,474.50 9,760.18 4,474.50 -15,685.51 4,474.50 4,760.18 -78,146.85Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -103,489.82 -4,813.35 4,474.50 4,474.50 4,474.50 4,474.50 4,474.50 9,760.18 4,474.50 -15,685.51 4,474.50 4,760.18 -78,146.85

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

144

Year 3

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 511,296.87 535,644.48 486,950.00 486,950.00 486,950.00 486,950.00 486,950.00 511,296.87 486,950.00 486,950.00 486,950.00 511,296.87 5,965,135.05Gross Profit 184,345.13 193,123.52 175,567.01 175,567.01 175,567.01 175,567.01 175,567.01 184,345.13 175,567.01 175,567.01 175,567.01 184,345.13 2,150,694.95Administrativ 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expen 136,348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220,923.64Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -107,043.27 10,192.32 17,892.61 17,892.61 17,892.61 17,892.61 17,892.61 24,082.33 17,892.61 -2,267.40 17,892.61 19,082.33 69,294.55Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -107,043.27 10,192.32 17,892.61 17,892.61 17,892.61 17,892.61 17,892.61 24,082.33 17,892.61 -2,267.40 17,892.61 19,082.33 69,294.55Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -107,043.27 10,192.32 17,892.61 17,892.61 17,892.61 17,892.61 17,892.61 24,082.33 17,892.61 -2,267.40 17,892.61 19,082.33 69,294.55Dividend 0 0 0 0 0 0 0 0 0 0 0 0 20788.365Retan earning -107,043.27 10,192.32 17,892.61 17,892.61 17,892.61 17,892.61 17,892.61 24,082.33 17,892.61 -2,267.40 17,892.61 19,082.33 48,506.18

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 562,427.15 589,209.08 535,644.48 535,644.48 535,644.48 535,644.48 535,644.48 562,427.15 535,644.48 535,644.48 535,644.48 562,427.15 6,561,646.35Gross Profit 202,779.86 212,435.93 193,123.52 193,123.52 193,123.52 193,123.52 193,123.52 202,779.86 193,123.52 193,123.52 193,123.52 202,779.86 2,365,763.65Administrativ 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expen 154,499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240,711.29Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -109,273.13 26,884.69 32,838.79 32,838.79 32,838.79 32,838.79 32,838.79 39,626.88 32,838.79 12,678.79 32,838.79 34,626.88 234,415.64Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -109,273.13 26,884.69 32,838.79 32,838.79 32,838.79 32,838.79 32,838.79 39,626.88 32,838.79 12,678.79 32,838.79 34,626.88 234,415.64Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 35162.346Net income -109,273.13 26,884.69 32,838.79 32,838.79 32,838.79 32,838.79 32,838.79 39,626.88 32,838.79 12,678.79 32,838.79 34,626.88 199,253.29Dividend 0 0 0 0 0 0 0 0 0 0 0 0 59775.9882Retan earning -109,273.13 26,884.69 32,838.79 32,838.79 32,838.79 32,838.79 32,838.79 39,626.88 32,838.79 12,678.79 32,838.79 34,626.88 139,477.31

Product Box Limited PartnershipsIncome StatementsAt the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 618,669.35 648,130.35 589,209.08 589,209.08 589,209.08 589,209.08 589,209.08 618,669.35 589,209.08 589,209.08 589,209.08 618,669.35 7,217,810.99Gross Profit 223,057.66 233,679.65 212,435.93 212,435.93 212,435.93 212,435.93 212,435.93 223,057.66 212,435.93 212,435.93 212,435.93 223,057.66 2,602,340.02Administrativ 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expen 178,312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269,822.84Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -115,371.87 42,445.73 49,480.00 49,480.00 49,480.00 49,480.00 49,480.00 56,678.13 49,480.00 29,320.00 49,480.00 51,678.13 411,110.18Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -115,371.87 42,445.73 49,480.00 49,480.00 49,480.00 49,480.00 49,480.00 56,678.13 49,480.00 29,320.00 49,480.00 51,678.13 411,110.18Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 61666.52625Net income -115,371.87 42,445.73 49,480.00 49,480.00 49,480.00 49,480.00 49,480.00 56,678.13 49,480.00 29,320.00 49,480.00 51,678.13 349,443.65Dividend 0 0 0 0 0 0 0 0 0 0 0 0 104833.0946Retan earning -115,371.87 42,445.73 49,480.00 49,480.00 49,480.00 49,480.00 49,480.00 56,678.13 49,480.00 29,320.00 49,480.00 51,678.13 244,610.55

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

145

If cost increase 10% Year 1

Year 2

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 421,601.18 463,761.76 421,601.18 421,601.18 421,601.18 421,601.18 421,601.18 442,681.47 421,601.18 421,601.18 421,601.18 442,681.47 5,143,535.32Gross Profit 153,309.82 138,526.24 125,932.82 125,932.82 125,932.82 125,932.82 125,932.82 132,229.53 125,932.82 125,932.82 125,932.82 132,229.53 1,563,760.68Administrativ 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expen 82,466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122,380.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -79,316.90 -19,100.48 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -21,787.19 -26,693.90 -26,693.90 -26,693.90 -26,787.19 -360,539.96Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -79,316.90 -19,100.48 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -21,787.19 -26,693.90 -26,693.90 -26,693.90 -26,787.19 -360,539.96Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -79,316.90 -19,100.48 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -21,787.19 -26,693.90 -26,693.90 -26,693.90 -26,787.19 -360,539.96Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retain Earnin -79,316.90 -19,100.48 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -21,787.19 -26,693.90 -26,693.90 -26,693.90 -26,787.19 -360,539.96

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 486,949.54 510,138.09 463,761.21 463,761.21 463,761.21 463,761.21 463,761.21 486,949.54 463,761.21 463,761.21 463,761.21 486,949.54 5,681,076.39Gross Profit 145,452.46 152,378.91 138,526.79 138,526.79 138,526.79 138,526.79 138,526.79 145,452.46 138,526.79 138,526.79 138,526.79 145,452.46 1,696,950.61Administrativ 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expen 118,490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202,300.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -125,623.89 -28,001.44 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -12,373.89 -16,605.56 -36,765.56 -16,605.56 -17,373.89 -336,377.59Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -125,623.89 -28,001.44 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -12,373.89 -16,605.56 -36,765.56 -16,605.56 -17,373.89 -336,377.59Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -125,623.89 -28,001.44 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -12,373.89 -16,605.56 -36,765.56 -16,605.56 -17,373.89 -336,377.59Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -125,623.89 -28,001.44 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -12,373.89 -16,605.56 -36,765.56 -16,605.56 -17,373.89 -336,377.59

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 535,644.34 561,151.36 510,138.09 510,138.09 510,138.09 510,138.09 510,138.09 535,644.34 510,138.09 510,138.09 510,138.09 535,644.34 6,249,189.10Gross Profit 159,997.66 167,616.64 152,378.91 152,378.91 152,378.91 152,378.91 152,378.91 159,997.66 152,378.91 152,378.91 152,378.91 159,997.66 1,866,640.90Administrativ 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expen 136,348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220,923.64Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -131,390.74 -15,314.56 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -265.14 -5,295.49 -25,455.49 -5,295.49 -5,265.14 -214,759.50Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -131,390.74 -15,314.56 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -265.14 -5,295.49 -25,455.49 -5,295.49 -5,265.14 -214,759.50Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -131,390.74 -15,314.56 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -265.14 -5,295.49 -25,455.49 -5,295.49 -5,265.14 -214,759.50Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -131,390.74 -15,314.56 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -265.14 -5,295.49 -25,455.49 -5,295.49 -5,265.14 -214,759.50

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

146

Year 4

Year 5

If cost increase 15% Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 589,209.39 617,266.65 561,151.36 561,151.36 561,151.36 561,151.36 561,151.36 589,209.39 561,151.36 561,151.36 561,151.36 589,209.39 6,874,105.70Gross Profit 175,997.61 184,378.35 167,616.64 167,616.64 167,616.64 167,616.64 167,616.64 175,997.61 167,616.64 167,616.64 167,616.64 175,997.61 2,053,304.30Administrativ 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expen 154,499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240,711.29Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -136,055.37 -1,172.88 7,331.91 7,331.91 7,331.91 7,331.91 7,331.91 12,844.63 7,331.91 -12,828.09 7,331.91 7,844.63 -78,043.71Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -136,055.37 -1,172.88 7,331.91 7,331.91 7,331.91 7,331.91 7,331.91 12,844.63 7,331.91 -12,828.09 7,331.91 7,844.63 -78,043.71Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -136,055.37 -1,172.88 7,331.91 7,331.91 7,331.91 7,331.91 7,331.91 12,844.63 7,331.91 -12,828.09 7,331.91 7,844.63 -78,043.71Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -136,055.37 -1,172.88 7,331.91 7,331.91 7,331.91 7,331.91 7,331.91 12,844.63 7,331.91 -12,828.09 7,331.91 7,844.63 -78,043.71

Product Box Limited PartnershipsIncome Statements

At the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 648,129.79 678,993.70 617,266.65 617,266.65 617,266.65 617,266.65 617,266.65 648,129.79 617,266.65 617,266.65 617,266.65 648,129.79 7,561,516.27Gross Profit 193,597.21 202,816.30 184,378.35 184,378.35 184,378.35 184,378.35 184,378.35 193,597.21 184,378.35 184,378.35 184,378.35 193,597.21 2,258,634.73Administrativ 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expen 178,312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269,822.84Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -144,832.31 11,582.38 21,422.43 21,422.43 21,422.43 21,422.43 21,422.43 27,217.69 21,422.43 1,262.43 21,422.43 22,217.69 67,404.89Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -144,832.31 11,582.38 21,422.43 21,422.43 21,422.43 21,422.43 21,422.43 27,217.69 21,422.43 1,262.43 21,422.43 22,217.69 67,404.89Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -144,832.31 11,582.38 21,422.43 21,422.43 21,422.43 21,422.43 21,422.43 27,217.69 21,422.43 1,262.43 21,422.43 22,217.69 67,404.89Dividend 0 0 0 0 0 0 0 0 0 0 0 0 20221.467Retan earning -144,832.31 11,582.38 21,422.43 21,422.43 21,422.43 21,422.43 21,422.43 27,217.69 21,422.43 1,262.43 21,422.43 22,217.69 47,183.42

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 440,764.87 484,841.84 440,764.87 440,764.87 440,764.87 440,764.87 440,764.87 462,803.36 440,764.87 440,764.87 440,764.87 462,803.36 5,377,332.38Gross Profit 134,146.13 117,446.16 106,769.13 106,769.13 106,769.13 106,769.13 106,769.13 112,107.65 106,769.13 106,769.13 106,769.13 112,107.65 1,329,963.62Administrativ 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expen 82,466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122,380.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -98,480.59 -40,180.56 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -41,909.08 -45,857.59 -45,857.59 -45,857.59 -46,909.08 -594,337.02Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -98,480.59 -40,180.56 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -41,909.08 -45,857.59 -45,857.59 -45,857.59 -46,909.08 -594,337.02Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -98,480.59 -40,180.56 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -41,909.08 -45,857.59 -45,857.59 -45,857.59 -46,909.08 -594,337.02Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retain Earnin -98,480.59 -40,180.56 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -41,909.08 -45,857.59 -45,857.59 -45,857.59 -46,909.08 -594,337.02

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

147

Year 2

Year 3

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 509,083.61 533,326.19 484,841.27 484,841.27 484,841.27 484,841.27 484,841.27 509,083.61 484,841.27 484,841.27 484,841.27 509,083.61 5,939,307.14Gross Profit 123,318.39 129,190.82 117,446.74 117,446.74 117,446.74 117,446.74 117,446.74 123,318.39 117,446.74 117,446.74 117,446.74 123,318.39 1,438,719.87Administrativ 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expen 118,490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202,300.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -147,757.96 -51,189.53 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -34,507.96 -37,685.62 -57,845.62 -37,685.62 -39,507.96 -594,608.34Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -147,757.96 -51,189.53 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -34,507.96 -37,685.62 -57,845.62 -37,685.62 -39,507.96 -594,608.34Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -147,757.96 -51,189.53 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -34,507.96 -37,685.62 -57,845.62 -37,685.62 -39,507.96 -594,608.34Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -147,757.96 -51,189.53 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -34,507.96 -37,685.62 -57,845.62 -37,685.62 -39,507.96 -594,608.34

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 559,991.81 586,658.24 533,326.19 533,326.19 533,326.19 533,326.19 533,326.19 559,991.81 533,326.19 533,326.19 533,326.19 559,991.81 6,533,243.15Gross Profit 135,650.19 142,109.76 129,190.82 129,190.82 129,190.82 129,190.82 129,190.82 135,650.19 129,190.82 129,190.82 129,190.82 135,650.19 1,582,586.85Administrativ 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expen 136,348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220,923.64Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -155,738.21 -40,821.44 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -24,612.61 -28,483.58 -48,643.58 -28,483.58 -29,612.61 -498,813.55Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -155,738.21 -40,821.44 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -24,612.61 -28,483.58 -48,643.58 -28,483.58 -29,612.61 -498,813.55Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -155,738.21 -40,821.44 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -24,612.61 -28,483.58 -48,643.58 -28,483.58 -29,612.61 -498,813.55Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -155,738.21 -40,821.44 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -24,612.61 -28,483.58 -48,643.58 -28,483.58 -29,612.61 -498,813.55

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 615,991.64 645,324.23 586,658.24 586,658.24 586,658.24 586,658.24 586,658.24 615,991.64 586,658.24 586,658.24 586,658.24 615,991.64 7,186,565.05Gross Profit 149,215.37 156,320.78 142,109.76 142,109.76 142,109.76 142,109.76 142,109.76 149,215.37 142,109.76 142,109.76 142,109.76 149,215.37 1,740,844.95Administrativ 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expen 154,499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240,711.29Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -162,837.62 -29,230.46 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -13,937.62 -18,174.97 -38,334.97 -18,174.97 -18,937.62 -390,503.06Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -162,837.62 -29,230.46 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -13,937.62 -18,174.97 -38,334.97 -18,174.97 -18,937.62 -390,503.06Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -162,837.62 -29,230.46 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -13,937.62 -18,174.97 -38,334.97 -18,174.97 -18,937.62 -390,503.06Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -162,837.62 -29,230.46 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -13,937.62 -18,174.97 -38,334.97 -18,174.97 -18,937.62 -390,503.06

Product Box Limited PartnershipsIncome StatementsAt the ended of year 4

148

Year 5

Cost of Goods Sold Risk : Balance Sheet If cost increase 5% Year 1

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 677,590.24 709,857.05 645,324.23 645,324.23 645,324.23 645,324.23 645,324.23 677,590.24 645,324.23 645,324.23 645,324.23 677,590.24 7,905,221.56Gross Profit 164,136.77 171,952.95 156,320.78 156,320.78 156,320.78 156,320.78 156,320.78 164,136.77 156,320.78 156,320.78 156,320.78 164,136.77 1,914,929.45Administrativ 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expen 178,312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269,822.84Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -174,292.76 -19,280.97 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -2,242.75 -6,635.14 -26,795.15 -6,635.14 -7,242.75 -276,300.40Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -174,292.76 -19,280.97 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -2,242.75 -6,635.14 -26,795.15 -6,635.14 -7,242.75 -276,300.40Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -174,292.76 -19,280.97 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -2,242.75 -6,635.14 -26,795.15 -6,635.14 -7,242.75 -276,300.40Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retan earning -174,292.76 -19,280.97 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -2,242.75 -6,635.14 -26,795.15 -6,635.14 -7,242.75 -276,300.40

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,585,413.40 3,670,609.69 3,691,947.90 3,717,606.23 3,743,264.56 3,768,922.89 3,794,581.22 3,823,509.61 3,845,897.88 3,871,556.21 3,897,214.54 3,921,142.93 3,219,820.32

Inventory 54,492 57,087 51,897 51,897 51,897 51,897 51,897 54,492 51,897 51,897 51,897 54,492 635,737

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,645,955 3,733,196 3,748,795 3,773,903 3,799,011 3,824,120 3,849,228 3,880,201 3,899,445 3,924,553 3,949,661 3,975,635 3,855,557Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,939,847 8,001,980 7,992,470 7,992,470 7,992,470 7,992,470 7,992,470 7,998,335 7,992,470 7,992,470 7,992,470 7,993,335 7,873,257

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -60,153.21 1,979.60 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -7,530.21 -1,665.31 -7,530.21 -7,530.21 -7,530.21 -6,665.31 -126,742.90

Total liabilit 7,939,847 8,001,980 7,992,470 7,992,470 7,992,470 7,992,470 7,992,470 7,998,335 7,992,470 7,992,470 7,992,470 7,993,335 7,873,257

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,837,927.61 3,959,408.09 4,000,062.92 4,025,721.25 4,051,379.58 4,077,037.91 4,102,696.24 4,130,785.92 4,154,012.90 4,159,511.23 4,205,329.56 4,228,419.24 3,506,142.70

Inventory 59,941 62,795 57,087 57,087 57,087 57,087 57,087 59,941 57,087 57,087 57,087 59,941 699,310

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,903,919 4,027,703 4,062,099 4,087,208 4,112,316 4,137,424 4,162,533 4,192,927 4,212,749 4,217,698 4,262,966 4,288,360 4,205,453Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,896,510 7,995,187 8,004,474 8,004,474 8,004,474 8,004,474 8,004,474 8,009,760 8,004,474 7,984,314 8,004,474 8,004,760 7,921,853

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -103,489.82 -4,813.35 4,474.50 4,474.50 4,474.50 4,474.50 4,474.50 9,760.18 4,474.50 -15,685.51 4,474.50 4,760.18 -78,146.85

Total liabilit 7,896,510 7,995,187 8,004,474 8,004,474 8,004,474 8,004,474 8,004,474 8,009,760 8,004,474 7,984,314 8,004,474 8,004,760 7,921,853

Blance SheetYear 2

Product Box Limited Partnerships

149

Year 3

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,129,680.07 4,269,434.23 4,309,072.37 4,334,730.70 4,360,389.03 4,386,047.36 4,411,705.69 4,440,413.98 4,463,022.35 4,468,520.68 4,514,339.01 4,538,047.30 3,449,064.68

Inventory 65,935 69,075 62,795 62,795 62,795 62,795 62,795 65,935 62,795 62,795 62,795 65,935 769,242

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,201,665 4,344,009 4,376,818 4,401,926 4,427,034 4,452,143 4,477,251 4,508,549 4,527,468 4,532,416 4,577,684 4,603,982 4,218,306Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,892,957 8,010,192 8,017,893 8,017,893 8,017,893 8,017,893 8,017,893 8,024,082 8,017,893 7,997,733 8,017,893 8,019,082 8,048,506

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -107,043.27 10,192.32 17,892.61 17,892.61 17,892.61 17,892.61 17,892.61 24,082.33 17,892.61 -2,267.40 17,892.61 19,082.33 48,506.18

Total liabilit 7,892,957 8,010,192 8,017,893 8,017,893 8,017,893 8,017,893 8,017,893 8,024,082 8,017,893 7,997,733 8,017,893 8,019,082 8,048,506

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,609,656.72 4,768,019.13 4,806,539.03 4,832,197.36 4,857,855.69 4,883,514.02 4,909,172.35 4,938,165.03 4,960,489.01 4,965,987.34 5,011,805.67 5,035,798.35 4,367,011.65

Inventory 72,528 75,982 69,075 69,075 69,075 69,075 69,075 72,528 69,075 69,075 69,075 72,528 846,166

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,688,235 4,849,501 4,880,564 4,905,672 4,930,780 4,955,889 4,980,997 5,012,894 5,031,214 5,036,162 5,081,430 5,108,327 5,213,177Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,890,727 8,026,885 8,032,839 8,032,839 8,032,839 8,032,839 8,032,839 8,039,627 8,032,839 8,012,679 8,032,839 8,034,627 8,139,477

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -109,273.13 26,884.69 32,838.79 32,838.79 32,838.79 32,838.79 32,838.79 39,626.88 32,838.79 12,678.79 32,838.79 34,626.88 139,477.31

Total liabilit 7,890,727 8,026,885 8,032,839 8,032,839 8,032,839 8,032,839 8,032,839 8,039,627 8,032,839 8,012,679 8,032,839 8,034,627 8,139,477

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,272,605.13 5,452,281.95 5,492,572.77 5,518,231.10 5,543,889.43 5,569,547.76 5,595,206.09 5,624,263.44 5,646,522.75 5,652,021.08 5,697,839.41 5,721,896.76 5,063,828.33

Inventory 79,781 83,580 75,982 75,982 75,982 75,982 75,982 79,781 75,982 75,982 75,982 79,781 930,782

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,358,436 5,541,362 5,573,505 5,598,613 5,623,722 5,648,830 5,673,938 5,706,245 5,724,155 5,729,103 5,774,372 5,801,678 5,994,611Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,884,628 8,042,446 8,049,480 8,049,480 8,049,480 8,049,480 8,049,480 8,056,678 8,049,480 8,029,320 8,049,480 8,051,678 8,244,611

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -115,371.87 42,445.73 49,480.00 49,480.00 49,480.00 49,480.00 49,480.00 56,678.13 49,480.00 29,320.00 49,480.00 51,678.13 244,610.55

Total liabilit 7,884,628 8,042,446 8,049,480 8,049,480 8,049,480 8,049,480 8,049,480 8,056,678 8,049,480 8,029,320 8,049,480 8,051,678 8,244,611

Product Box Limited PartnershipsBlance Sheet

Year 5

150

If cost increase 10% Year1

Year 2

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,563,654.86 3,646,811.20 3,670,312.93 3,695,971.26 3,721,629.59 3,747,287.92 3,772,946.25 3,800,792.88 3,824,262.91 3,849,921.24 3,875,579.57 3,898,426.20 2,955,750.08

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,626,791 3,712,116 3,729,631 3,754,739 3,779,848 3,804,956 3,830,064 3,860,079 3,880,281 3,905,389 3,930,498 3,955,513 3,621,760Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,920,683 7,980,900 7,973,306 7,973,306 7,973,306 7,973,306 7,973,306 7,978,213 7,973,306 7,973,306 7,973,306 7,973,213 7,639,460

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -79,316.90 -19,100.48 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -26,693.90 -21,787.19 -26,693.90 -26,693.90 -26,693.90 -26,787.19 -360,539.96

Total liabilit 7,920,683 7,980,900 7,973,306 7,973,306 7,973,306 7,973,306 7,973,306 7,978,213 7,973,306 7,973,306 7,973,306 7,973,213 7,639,460

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,812,939.22 3,933,229.75 3,976,264.45 4,001,922.78 4,027,581.11 4,053,239.44 4,078,897.77 4,105,797.53 4,130,214.43 4,135,712.76 4,181,531.09 4,203,430.85 3,214,611.45

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,881,784 4,004,515 4,041,019 4,066,128 4,091,236 4,116,344 4,141,453 4,170,793 4,191,669 4,196,618 4,241,886 4,266,226 3,947,222Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,874,376 7,971,999 7,983,394 7,983,394 7,983,394 7,983,394 7,983,394 7,987,626 7,983,394 7,963,234 7,983,394 7,982,626 7,663,622

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -125,623.89 -28,001.44 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -16,605.56 -12,373.89 -16,605.56 -36,765.56 -16,605.56 -17,373.89 -336,377.59

Total liabilit 7,874,376 7,971,999 7,983,394 7,983,394 7,983,394 7,983,394 7,983,394 7,987,626 7,983,394 7,963,234 7,983,394 7,982,626 7,663,622

Blance SheetYear 2

Product Box Limited Partnerships

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,102,192.84 4,240,638.08 4,282,894.03 4,308,552.36 4,334,210.69 4,359,869.02 4,385,527.35 4,412,926.75 4,436,844.01 4,442,342.34 4,488,160.67 4,510,560.07 3,149,168.45

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,177,318 4,318,502 4,353,630 4,378,738 4,403,846 4,428,954 4,454,063 4,484,202 4,504,279 4,509,228 4,554,496 4,579,635 3,955,041Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,868,609 7,984,685 7,994,705 7,994,705 7,994,705 7,994,705 7,994,705 7,999,735 7,994,705 7,974,545 7,994,705 7,994,735 7,785,241

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -131,390.74 -15,314.56 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -5,295.49 -265.14 -5,295.49 -25,455.49 -5,295.49 -5,265.14 -214,759.50

Total liabilit 7,868,609 7,984,685 7,994,705 7,994,705 7,994,705 7,994,705 7,994,705 7,999,735 7,994,705 7,974,545 7,994,705 7,994,735 7,785,241

Product Box Limited PartnershipsBlance Sheet

Year 3

151

Year4

Year 5

If cost increase 15% Year1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,579,420.74 4,736,343.36 4,777,742.88 4,803,401.21 4,829,059.54 4,854,717.87 4,880,376.20 4,907,929.05 4,931,692.86 4,937,191.19 4,983,009.52 5,005,562.37 4,109,197.03

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,661,453 4,821,444 4,855,057 4,880,165 4,905,274 4,930,382 4,955,490 4,986,111 5,005,707 5,010,655 5,055,924 5,081,545 4,995,656Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,863,945 7,998,827 8,007,332 8,007,332 8,007,332 8,007,332 8,007,332 8,012,845 8,007,332 7,987,172 8,007,332 8,007,845 7,921,956

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -136,055.37 -1,172.88 7,331.91 7,331.91 7,331.91 7,331.91 7,331.91 12,844.63 7,331.91 -12,828.09 7,331.91 7,844.63 -78,043.71

Total liabilit 7,863,945 7,998,827 8,007,332 8,007,332 8,007,332 8,007,332 8,007,332 8,012,845 8,007,332 7,987,172 8,007,332 8,007,845 7,921,956

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,239,345.58 5,417,438.57 5,460,897.00 5,486,555.33 5,512,213.66 5,537,871.99 5,563,530.32 5,591,003.89 5,614,846.98 5,620,345.31 5,666,163.64 5,688,637.21 4,822,078.24

Inventory 83,580 87,560 79,600 79,600 79,600 79,600 79,600 83,580 79,600 79,600 79,600 83,580 975,105

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,328,976 5,510,499 5,545,447 5,570,556 5,595,664 5,620,772 5,645,881 5,676,784 5,696,097 5,701,046 5,746,314 5,772,218 5,797,183Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,855,168 8,011,582 8,021,422 8,021,422 8,021,422 8,021,422 8,021,422 8,027,218 8,021,422 8,001,262 8,021,422 8,022,218 8,047,183

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -144,832.31 11,582.38 21,422.43 21,422.43 21,422.43 21,422.43 21,422.43 27,217.69 21,422.43 1,262.43 21,422.43 22,217.69 47,183.42

Total liabilit 7,855,168 8,011,582 8,021,422 8,021,422 8,021,422 8,021,422 8,021,422 8,027,218 8,021,422 8,001,262 8,021,422 8,022,218 8,047,183

Product Box Limited PartnershipsBlance Sheet

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,541,896.33 3,623,012.72 3,648,677.96 3,674,336.29 3,699,994.62 3,725,652.95 3,751,311.28 3,778,076.15 3,802,627.94 3,828,286.27 3,853,944.60 3,875,709.47 2,691,679.84

Inventory 59,681 62,523 56,839 56,839 56,839 56,839 56,839 59,681 56,839 56,839 56,839 59,681 696,283

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,607,628 3,691,036 3,710,467 3,735,576 3,760,684 3,785,792 3,810,901 3,839,958 3,861,117 3,886,226 3,911,334 3,935,391 3,387,963Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,901,519 7,959,819 7,954,142 7,954,142 7,954,142 7,954,142 7,954,142 7,958,091 7,954,142 7,954,142 7,954,142 7,953,091 7,405,663

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -98,480.59 -40,180.56 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -45,857.59 -41,909.08 -45,857.59 -45,857.59 -45,857.59 -46,909.08 -594,337.02

Total liabilit 7,901,519 7,959,819 7,954,142 7,954,142 7,954,142 7,954,142 7,954,142 7,958,091 7,954,142 7,954,142 7,954,142 7,953,091 7,405,663

Product Box Limited PartnershipsBlance Sheet

Year 1

152

Year 2

Year 3

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,787,950.82 3,907,051.40 3,952,465.99 3,978,124.32 4,003,782.65 4,029,440.98 4,055,099.31 4,080,809.13 4,106,415.97 4,111,914.30 4,157,732.63 4,178,442.45 2,923,080.21

Inventory 65,650 68,776 62,523 62,523 62,523 62,523 62,523 65,650 62,523 62,523 62,523 65,650 765,911

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,859,650 3,981,327 4,019,939 4,045,048 4,070,156 4,095,264 4,120,373 4,148,659 4,170,589 4,175,538 4,220,806 4,244,092 3,688,992Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,852,242 7,948,810 7,962,314 7,962,314 7,962,314 7,962,314 7,962,314 7,965,492 7,962,314 7,942,154 7,962,314 7,960,492 7,405,392

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -147,757.96 -51,189.53 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -37,685.62 -34,507.96 -37,685.62 -57,845.62 -37,685.62 -39,507.96 -594,608.34

Total liabilit 7,852,242 7,948,810 7,962,314 7,962,314 7,962,314 7,962,314 7,962,314 7,965,492 7,962,314 7,942,154 7,962,314 7,960,492 7,405,392

Blance SheetYear 2

Product Box Limited Partnerships

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,074,705.61 4,211,841.93 4,256,715.68 4,282,374.01 4,308,032.34 4,333,690.67 4,359,349.00 4,385,439.52 4,410,665.66 4,416,163.99 4,461,982.32 4,483,072.84 2,828,483.85

Inventory 72,215 75,653 68,776 68,776 68,776 68,776 68,776 72,215 68,776 68,776 68,776 72,215 842,503

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,152,970 4,292,995 4,330,441 4,355,550 4,380,658 4,405,766 4,430,875 4,459,854 4,481,091 4,486,040 4,531,308 4,555,287 3,670,986Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,844,262 7,959,179 7,971,516 7,971,516 7,971,516 7,971,516 7,971,516 7,975,387 7,971,516 7,951,356 7,971,516 7,970,387 7,501,186

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -155,738.21 -40,821.44 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -28,483.58 -24,612.61 -28,483.58 -48,643.58 -28,483.58 -29,612.61 -498,813.55

Total liabilit 7,844,262 7,959,179 7,971,516 7,971,516 7,971,516 7,971,516 7,971,516 7,975,387 7,971,516 7,951,356 7,971,516 7,970,387 7,501,186

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,549,184.76 4,704,667.58 4,748,946.73 4,774,605.06 4,800,263.39 4,825,921.72 4,851,580.05 4,877,693.07 4,902,896.71 4,908,395.04 4,954,213.37 4,975,326.39 3,756,444.08

Inventory 79,436 83,219 75,653 75,653 75,653 75,653 75,653 79,436 75,653 75,653 75,653 79,436 926,753

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,634,671 4,793,386 4,829,550 4,854,658 4,879,767 4,904,875 4,929,983 4,959,329 4,980,200 4,985,148 5,030,417 5,054,762 4,683,197Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,837,162 7,970,770 7,981,825 7,981,825 7,981,825 7,981,825 7,981,825 7,986,062 7,981,825 7,961,665 7,981,825 7,981,062 7,609,497

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -162,837.62 -29,230.46 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -18,174.97 -13,937.62 -18,174.97 -38,334.97 -18,174.97 -18,937.62 -390,503.06

Total liabilit 7,837,162 7,970,770 7,981,825 7,981,825 7,981,825 7,981,825 7,981,825 7,986,062 7,981,825 7,961,665 7,981,825 7,981,062 7,609,497

Year 4

Product Box Limited PartnershipsBlance Sheet

153

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,206,086.02 5,382,595.20 5,429,221.22 5,454,879.55 5,480,537.88 5,506,196.21 5,531,854.54 5,557,744.33 5,583,171.20 5,588,669.53 5,634,487.86 5,655,377.65 4,454,271.46

Inventory 87,380 91,540 83,219 83,219 83,219 83,219 83,219 87,380 83,219 83,219 83,219 87,380 1,019,428

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,299,516 5,479,636 5,517,390 5,542,498 5,567,607 5,592,715 5,617,823 5,647,324 5,668,040 5,672,988 5,718,256 5,742,757 5,473,700Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,825,707 7,980,719 7,993,365 7,993,365 7,993,365 7,993,365 7,993,365 7,997,757 7,993,365 7,973,205 7,993,365 7,992,757 7,723,700

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -174,292.76 -19,280.97 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -6,635.14 -2,242.75 -6,635.14 -26,795.15 -6,635.14 -7,242.75 -276,300.40

Total liabilit 7,825,707 7,980,719 7,993,365 7,993,365 7,993,365 7,993,365 7,993,365 7,997,757 7,993,365 7,973,205 7,993,365 7,992,757 7,723,700

Product Box Limited PartnershipsBlance Sheet

Year 5

154

Administrative Risk : Income Statement

If administrative risk increase 5% Year 1

Year 2

Year 1 Year 2 Year 3 Year 4 Year 5

Normal 1,449,440.64 1,478,548.20 1,507,996.80 1,538,156.76 1,568,927.04

Increase 5% 1,521,912.67 1,552,475.61 1,583,396.64 1,615,064.60 1,647,373.39

Increase 10% 1,594,384.70 1,626,403.02 1,658,796.48 1,691,972.44 1,725,819.74

Increase 15% 1,666,856.74 1,700,330.43 1,734,196.36 1,768,880.27 1,804,266.10

0.00200,000.00400,000.00600,000.00800,000.00

1,000,000.001,200,000.001,400,000.001,600,000.001,800,000.002,000,000.00

Baht

Administrative Increase

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 383,273.80 421601.6 383273.8 383273.8 383273.8 383273.8 383273.8 402437.7 383273.8 383273.8 383273.8 402437.7 4,675,941.20Gross Profit 191,637.20 180,686.40 164,260.20 164,260.20 164,260.20 164,260.20 164,260.20 172,473.30 164,260.20 164,260.20 164,260.20 172,473.30 2,031,354.80Administrativ 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 126,826.06 1,521,912.67Selling expen 82,466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122,380.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -47,028.86 17,020.34 5,594.14 5,594.14 5,594.14 5,594.14 5,594.14 12,417.24 5,594.14 5,594.14 5,594.14 7,417.24 34,579.13Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -47,028.86 17,020.34 5,594.14 5,594.14 5,594.14 5,594.14 5,594.14 12,417.24 5,594.14 5,594.14 5,594.14 7,417.24 34,579.13Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -47,028.86 17,020.34 5,594.14 5,594.14 5,594.14 5,594.14 5,594.14 12,417.24 5,594.14 5,594.14 5,594.14 7,417.24 34,579.13Dividend 0 0 0 0 0 0 0 0 0 0 0 0 10373.7384Retain Earnin -47,028.86 17,020.34 5,594.14 5,594.14 5,594.14 5,594.14 5,594.14 12,417.24 5,594.14 5,594.14 5,594.14 7,417.24 24,205.39

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90Gross Profit 189,720.60 198,755.10 180,686.90 180,686.90 180,686.90 180,686.90 180,686.90 189,720.60 180,686.90 180,686.90 180,686.90 189,720.60 2,213,412.10Administrativ 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 129,372.97 1,552,475.61Selling expen 118,490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202,300.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -87,516.37 12,214.13 19,393.93 19,393.93 19,393.93 19,393.93 19,393.93 25,733.63 19,393.93 -766.07 19,393.93 20,733.63 106,156.49Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -87,516.37 12,214.13 19,393.93 19,393.93 19,393.93 19,393.93 19,393.93 25,733.63 19,393.93 -766.07 19,393.93 20,733.63 106,156.49Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -87,516.37 12,214.13 19,393.93 19,393.93 19,393.93 19,393.93 19,393.93 25,733.63 19,393.93 -766.07 19,393.93 20,733.63 106,156.49Dividend 0 0 0 0 0 0 0 0 0 0 0 0 31846.947Retan earning -87,516.37 12,214.13 19,393.93 19,393.93 19,393.93 19,393.93 19,393.93 25,733.63 19,393.93 -766.07 19,393.93 20,733.63 74,309.54

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

155

Year 3

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,081.00Gross Profit 208,692.60 218,630.40 198,755.10 198,755.10 198,755.10 198,755.10 198,755.10 208,692.60 198,755.10 198,755.10 198,755.10 208,692.60 2,434,749.00Administrativ 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 131,949.72 1,583,396.64Selling expen 136,348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220,923.64Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -88,979.12 29,415.88 34,797.38 34,797.38 34,797.38 34,797.38 34,797.38 42,146.48 34,797.38 14,637.38 34,797.38 37,146.48 277,948.76Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -88,979.12 29,415.88 34,797.38 34,797.38 34,797.38 34,797.38 34,797.38 42,146.48 34,797.38 14,637.38 34,797.38 37,146.48 277,948.76Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 41692.314Net income -88,979.12 29,415.88 34,797.38 34,797.38 34,797.38 34,797.38 34,797.38 42,146.48 34,797.38 14,637.38 34,797.38 37,146.48 236,256.45Dividend 0 0 0 0 0 0 0 0 0 0 0 0 70876.9338Retan earning -88,979.12 29,415.88 34,797.38 34,797.38 34,797.38 34,797.38 34,797.38 42,146.48 34,797.38 14,637.38 34,797.38 37,146.48 165,379.51

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187.00Gross Profit 229,562.10 240,493.50 218,630.40 218,630.40 218,630.40 218,630.40 218,630.40 229,562.10 218,630.40 218,630.40 218,630.40 229,562.10 2,678,223.00Administrativ 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 134,588.72 1,615,064.60Selling expen 154,499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240,711.29Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -88,899.87 48,533.28 51,936.68 51,936.68 51,936.68 51,936.68 51,936.68 60,000.13 51,936.68 31,776.68 51,936.68 55,000.13 469,967.15Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -88,899.87 48,533.28 51,936.68 51,936.68 51,936.68 51,936.68 51,936.68 60,000.13 51,936.68 31,776.68 51,936.68 55,000.13 469,967.15Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 70495.0728Net income -88,899.87 48,533.28 51,936.68 51,936.68 51,936.68 51,936.68 51,936.68 60,000.13 51,936.68 31,776.68 51,936.68 55,000.13 399,472.08Dividend 0 0 0 0 0 0 0 0 0 0 0 0 119841.6238Retan earning -88,899.87 48,533.28 51,936.68 51,936.68 51,936.68 51,936.68 51,936.68 60,000.13 51,936.68 31,776.68 51,936.68 55,000.13 279,630.46

Product Box Limited PartnershipsIncome Statements

At the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 589,208.90 617,267.00 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70Gross Profit 252,518.10 264,543.00 240,493.50 240,493.50 240,493.50 240,493.50 240,493.50 252,518.10 240,493.50 240,493.50 240,493.50 252,518.10 2,946,045.30Administrativ 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 137,281.12 1,647,373.39Selling expen 178,312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269,822.84Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -92,448.62 66,771.88 71,000.38 71,000.38 71,000.38 71,000.38 71,000.38 79,601.38 71,000.38 50,840.38 71,000.38 74,601.38 676,369.11Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -92,448.62 66,771.88 71,000.38 71,000.38 71,000.38 71,000.38 71,000.38 79,601.38 71,000.38 50,840.38 71,000.38 74,601.38 676,369.11Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 101455.3662Net income -92,448.62 66,771.88 71,000.38 71,000.38 71,000.38 71,000.38 71,000.38 79,601.38 71,000.38 50,840.38 71,000.38 74,601.38 574,913.74Dividend 0 0 0 0 0 0 0 0 0 0 0 0 172474.1225Retan earning -92,448.62 66,771.88 71,000.38 71,000.38 71,000.38 71,000.38 71,000.38 79,601.38 71,000.38 50,840.38 71,000.38 74,601.38 402,439.62

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

156

If administrative risk increase 10% Year 1

Year2

Year3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 383,273.80 421601.6 383273.8 383273.8 383273.8 383273.8 383273.8 402437.7 383273.8 383273.8 383273.8 402437.7 4,675,941.20Gross Profit 191,637.20 180,686.40 164,260.20 164,260.20 164,260.20 164,260.20 164,260.20 172,473.30 164,260.20 164,260.20 164,260.20 172,473.30 2,031,354.80Administrativ 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 132,865.39 1,594,384.70Selling expen 82,466.67 7466.67 2466.67 2466.67 2466.67 2466.67 2466.67 3856.67 2466.67 2466.67 2466.67 8856.67 122,380.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -53,068.19 10,981.01 -445.19 -445.19 -445.19 -445.19 -445.19 6,377.91 -445.19 -445.19 -445.19 1,377.91 -37,892.90Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -53,068.19 10,981.01 -445.19 -445.19 -445.19 -445.19 -445.19 6,377.91 -445.19 -445.19 -445.19 1,377.91 -37,892.90Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -53,068.19 10,981.01 -445.19 -445.19 -445.19 -445.19 -445.19 6,377.91 -445.19 -445.19 -445.19 1,377.91 -37,892.90Dividend 0 0 0 0 0 0 0 0 0 0 0 0 0Retain Earnin -53,068.19 10,981.01 -445.19 -445.19 -445.19 -445.19 -445.19 6,377.91 -445.19 -445.19 -445.19 1,377.91 -37,892.90

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90Gross Profit 189,720.60 198,755.10 180,686.90 180,686.90 180,686.90 180,686.90 180,686.90 189,720.60 180,686.90 180,686.90 180,686.90 189,720.60 2,213,412.10Administrativ 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 135,533.59 1,626,403.02Selling expen 118,490.67 27794.67 2546.67 2546.67 2546.67 2546.67 2546.67 5240.67 2546.67 22706.67 2546.67 10240.67 202,300.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -93,676.99 6,053.51 13,233.32 13,233.32 13,233.32 13,233.32 13,233.32 19,573.02 13,233.32 -6,926.69 13,233.32 14,573.02 32,229.08Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -93,676.99 6,053.51 13,233.32 13,233.32 13,233.32 13,233.32 13,233.32 19,573.02 13,233.32 -6,926.69 13,233.32 14,573.02 32,229.08Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -93,676.99 6,053.51 13,233.32 13,233.32 13,233.32 13,233.32 13,233.32 19,573.02 13,233.32 -6,926.69 13,233.32 14,573.02 32,229.08Dividend 0 0 0 0 0 0 0 0 0 0 0 0 9668.724Retan earning -93,676.99 6,053.51 13,233.32 13,233.32 13,233.32 13,233.32 13,233.32 19,573.02 13,233.32 -6,926.69 13,233.32 14,573.02 22,560.36

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,081.00Gross Profit 208,692.60 218,630.40 198,755.10 198,755.10 198,755.10 198,755.10 198,755.10 208,692.60 198,755.10 198,755.10 198,755.10 208,692.60 2,434,749.00Administrativ 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 138,233.04 1,658,796.48Selling expen 136,348.67 27891.47 2634.67 2634.67 2634.67 2634.67 2634.67 5223.07 2634.67 22794.67 2634.67 10223.07 220,923.64Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -95,262.44 23,132.56 28,514.06 28,514.06 28,514.06 28,514.06 28,514.06 35,863.16 28,514.06 8,354.06 28,514.06 30,863.16 202,548.92Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -95,262.44 23,132.56 28,514.06 28,514.06 28,514.06 28,514.06 28,514.06 35,863.16 28,514.06 8,354.06 28,514.06 30,863.16 202,548.92Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 30382.338Net income -95,262.44 23,132.56 28,514.06 28,514.06 28,514.06 28,514.06 28,514.06 35,863.16 28,514.06 8,354.06 28,514.06 30,863.16 172,166.58Dividend 0 0 0 0 0 0 0 0 0 0 0 0 51649.9746Retan earning -95,262.44 23,132.56 28,514.06 28,514.06 28,514.06 28,514.06 28,514.06 35,863.16 28,514.06 8,354.06 28,514.06 30,863.16 120,516.61

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

157

Year4

Year5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187.00Gross Profit 229,562.10 240,493.50 218,630.40 218,630.40 218,630.40 218,630.40 218,630.40 229,562.10 218,630.40 218,630.40 218,630.40 229,562.10 2,678,223.00Administrativ 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 140,997.70 1,691,972.44Selling expen 154,499.92 27998.17 2731.67 2731.67 2731.67 2731.67 2731.67 5599.92 2731.67 22891.67 2731.67 10599.92 240,711.29Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -95,308.85 42,124.30 45,527.70 45,527.70 45,527.70 45,527.70 45,527.70 53,591.15 45,527.70 25,367.70 45,527.70 48,591.15 393,059.31Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -95,308.85 42,124.30 45,527.70 45,527.70 45,527.70 45,527.70 45,527.70 53,591.15 45,527.70 25,367.70 45,527.70 48,591.15 393,059.31Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 58958.8971Net income -95,308.85 42,124.30 45,527.70 45,527.70 45,527.70 45,527.70 45,527.70 53,591.15 45,527.70 25,367.70 45,527.70 48,591.15 334,100.42Dividend 0 0 0 0 0 0 0 0 0 0 0 0 100230.1251Retan earning -95,308.85 42,124.30 45,527.70 45,527.70 45,527.70 45,527.70 45,527.70 53,591.15 45,527.70 25,367.70 45,527.70 48,591.15 233,870.29

Product Box Limited PartnershipsIncome Statements

At the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 589,208.90 617,267.00 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70Gross Profit 252,518.10 264,543.00 240,493.50 240,493.50 240,493.50 240,493.50 240,493.50 252,518.10 240,493.50 240,493.50 240,493.50 252,518.10 2,946,045.30Administrativ 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 143,818.31 1,725,819.74Selling expen 178,312.27 31116.67 2838.67 2838.67 2838.67 2838.67 2838.67 6262.27 2838.67 22998.67 2838.67 11262.27 269,822.84Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -98,985.81 60,234.69 64,463.19 64,463.19 64,463.19 64,463.19 64,463.19 73,064.19 64,463.19 44,303.19 64,463.19 68,064.19 597,922.76Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -98,985.81 60,234.69 64,463.19 64,463.19 64,463.19 64,463.19 64,463.19 73,064.19 64,463.19 44,303.19 64,463.19 68,064.19 597,922.76Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 89688.4134Net income -98,985.81 60,234.69 64,463.19 64,463.19 64,463.19 64,463.19 64,463.19 73,064.19 64,463.19 44,303.19 64,463.19 68,064.19 508,234.34Dividend 0 0 0 0 0 0 0 0 0 0 0 0 152470.3028Retan earning -98,985.81 60,234.69 64,463.19 64,463.19 64,463.19 64,463.19 64,463.19 73,064.19 64,463.19 44,303.19 64,463.19 68,064.19 355,764.04

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

158

If administrative risk increase 15% Year1

Year2

Year3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,601,132.59 3,688,368.84 3,707,543.53 3,733,201.86 3,758,860.19 3,784,518.52 3,810,176.85 3,840,187.00 3,861,493.51 3,887,151.84 3,912,810.17 3,937,820.32 3,401,041.79

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,659,079 3,748,237 3,761,919 3,787,027 3,812,136 3,837,244 3,862,352 3,894,284 3,912,569 3,937,677 3,962,786 3,989,717 4,006,505Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,952,971 8,017,020 8,005,594 8,005,594 8,005,594 8,005,594 8,005,594 8,012,417 8,005,594 8,005,594 8,005,594 8,007,417 8,024,205

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -47,028.86 17,020.34 5,594.14 5,594.14 5,594.14 5,594.14 5,594.14 12,417.24 5,594.14 5,594.14 5,594.14 7,417.24 24,205.39

Total liabilit 7,952,971 8,017,020 8,005,594 8,005,594 8,005,594 8,005,594 8,005,594 8,012,417 8,005,594 8,005,594 8,005,594 8,007,417 8,024,205

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,856,755.39 3,979,425.82 4,017,700.76 4,043,359.09 4,069,017.42 4,094,675.75 4,120,334.08 4,149,613.70 4,171,650.74 4,177,149.07 4,222,967.40 4,247,247.02 3,691,899.58

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,919,892 4,044,731 4,077,019 4,102,127 4,127,236 4,152,344 4,177,452 4,208,900 4,227,669 4,232,617 4,277,886 4,304,334 4,357,910Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,912,484 8,012,214 8,019,394 8,019,394 8,019,394 8,019,394 8,019,394 8,025,734 8,019,394 7,999,234 8,019,394 8,020,734 8,074,310

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -87,516.37 12,214.13 19,393.93 19,393.93 19,393.93 19,393.93 19,393.93 25,733.63 19,393.93 -766.07 19,393.93 20,733.63 74,309.54

Total liabilit 7,912,484 8,012,214 8,019,394 8,019,394 8,019,394 8,019,394 8,019,394 8,025,734 8,019,394 7,999,234 8,019,394 8,020,734 8,074,310

Product Box Limited PartnershipsBlance Sheet

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,150,883.99 4,291,947.07 4,328,967.39 4,354,625.72 4,380,284.05 4,405,942.38 4,431,600.71 4,461,617.90 4,482,917.37 4,488,415.70 4,534,234.03 4,559,251.22 3,602,568.56

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,219,729 4,363,233 4,393,722 4,418,831 4,443,939 4,469,047 4,494,156 4,526,613 4,544,372 4,549,321 4,594,589 4,622,046 4,335,180Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,911,021 8,029,416 8,034,797 8,034,797 8,034,797 8,034,797 8,034,797 8,042,146 8,034,797 8,014,637 8,034,797 8,037,146 8,165,380

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -88,979.12 29,415.88 34,797.38 34,797.38 34,797.38 34,797.38 34,797.38 42,146.48 34,797.38 14,637.38 34,797.38 37,146.48 165,379.51

Total liabilit 7,911,021 8,029,416 8,034,797 8,034,797 8,034,797 8,034,797 8,034,797 8,042,146 8,034,797 8,014,637 8,034,797 8,037,146 8,165,380

Product Box Limited PartnershipsBlance Sheet

Year 3

159

Year4

Year5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,633,483.72 4,793,285.92 4,828,926.20 4,854,584.53 4,880,242.86 4,905,901.19 4,931,559.52 4,961,992.03 4,982,876.18 4,988,374.51 5,034,192.84 5,059,625.35 4,547,458.40

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,708,608 4,871,150 4,899,662 4,924,770 4,949,878 4,974,987 5,000,095 5,033,267 5,050,312 5,055,260 5,100,528 5,128,700 5,353,330Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,911,100 8,048,533 8,051,937 8,051,937 8,051,937 8,051,937 8,051,937 8,060,000 8,051,937 8,031,777 8,051,937 8,055,000 8,279,630

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -88,899.87 48,533.28 51,936.68 51,936.68 51,936.68 51,936.68 51,936.68 60,000.13 51,936.68 31,776.68 51,936.68 55,000.13 279,630.46

Total liabilit 7,911,100 8,048,533 8,051,937 8,051,937 8,051,937 8,051,937 8,051,937 8,060,000 8,051,937 8,031,777 8,051,937 8,055,000 8,279,630

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,480,588.12 5,517,711.35 5,543,369.68 5,569,028.01 5,594,686.34 5,620,344.67 5,650,985.80 5,671,661.33 5,677,159.66 5,722,977.99 5,748,619.12 5,265,980.36

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,565,689 5,595,025 5,620,134 5,645,242 5,670,350 5,695,459 5,729,168 5,745,675 5,750,624 5,795,892 5,824,601 6,152,440Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,066,772 8,071,000 8,071,000 8,071,000 8,071,000 8,071,000 8,079,601 8,071,000 8,050,840 8,071,000 8,074,601 8,402,440

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -92,448.62 66,771.88 71,000.38 71,000.38 71,000.38 71,000.38 71,000.38 79,601.38 71,000.38 50,840.38 71,000.38 74,601.38 402,439.62

Total liabilit 7,907,551 8,066,772 8,071,000 8,071,000 8,071,000 8,071,000 8,071,000 8,079,601 8,071,000 8,050,840 8,071,000 8,074,601 8,402,440

Product Box Limited PartnershipsBlance Sheet

Year 5

160

Administrative risk : Balance Sheet If administrative risk increase 5% Year 1

Year 2

Year3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,601,132.59 3,688,368.84 3,707,543.53 3,733,201.86 3,758,860.19 3,784,518.52 3,810,176.85 3,840,187.00 3,861,493.51 3,887,151.84 3,912,810.17 3,937,820.32 3,401,041.79

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,659,079 3,748,237 3,761,919 3,787,027 3,812,136 3,837,244 3,862,352 3,894,284 3,912,569 3,937,677 3,962,786 3,989,717 4,006,505Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,952,971 8,017,020 8,005,594 8,005,594 8,005,594 8,005,594 8,005,594 8,012,417 8,005,594 8,005,594 8,005,594 8,007,417 8,024,205

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -47,028.86 17,020.34 5,594.14 5,594.14 5,594.14 5,594.14 5,594.14 12,417.24 5,594.14 5,594.14 5,594.14 7,417.24 24,205.39

Total liabilit 7,952,971 8,017,020 8,005,594 8,005,594 8,005,594 8,005,594 8,005,594 8,012,417 8,005,594 8,005,594 8,005,594 8,007,417 8,024,205

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,856,755.39 3,979,425.82 4,017,700.76 4,043,359.09 4,069,017.42 4,094,675.75 4,120,334.08 4,149,613.70 4,171,650.74 4,177,149.07 4,222,967.40 4,247,247.02 3,691,899.58

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,919,892 4,044,731 4,077,019 4,102,127 4,127,236 4,152,344 4,177,452 4,208,900 4,227,669 4,232,617 4,277,886 4,304,334 4,357,910Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,912,484 8,012,214 8,019,394 8,019,394 8,019,394 8,019,394 8,019,394 8,025,734 8,019,394 7,999,234 8,019,394 8,020,734 8,074,310

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -87,516.37 12,214.13 19,393.93 19,393.93 19,393.93 19,393.93 19,393.93 25,733.63 19,393.93 -766.07 19,393.93 20,733.63 74,309.54

Total liabilit 7,912,484 8,012,214 8,019,394 8,019,394 8,019,394 8,019,394 8,019,394 8,025,734 8,019,394 7,999,234 8,019,394 8,020,734 8,074,310

Product Box Limited PartnershipsBlance Sheet

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,150,883.99 4,291,947.07 4,328,967.39 4,354,625.72 4,380,284.05 4,405,942.38 4,431,600.71 4,461,617.90 4,482,917.37 4,488,415.70 4,534,234.03 4,559,251.22 3,602,568.56

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,219,729 4,363,233 4,393,722 4,418,831 4,443,939 4,469,047 4,494,156 4,526,613 4,544,372 4,549,321 4,594,589 4,622,046 4,335,180Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,911,021 8,029,416 8,034,797 8,034,797 8,034,797 8,034,797 8,034,797 8,042,146 8,034,797 8,014,637 8,034,797 8,037,146 8,165,380

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -88,979.12 29,415.88 34,797.38 34,797.38 34,797.38 34,797.38 34,797.38 42,146.48 34,797.38 14,637.38 34,797.38 37,146.48 165,379.51

Total liabilit 7,911,021 8,029,416 8,034,797 8,034,797 8,034,797 8,034,797 8,034,797 8,042,146 8,034,797 8,014,637 8,034,797 8,037,146 8,165,380

Product Box Limited PartnershipsBlance Sheet

Year 3

161

Year4

Year5

If administrative risk increase 10% Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,633,483.72 4,793,285.92 4,828,926.20 4,854,584.53 4,880,242.86 4,905,901.19 4,931,559.52 4,961,992.03 4,982,876.18 4,988,374.51 5,034,192.84 5,059,625.35 4,547,458.40

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,708,608 4,871,150 4,899,662 4,924,770 4,949,878 4,974,987 5,000,095 5,033,267 5,050,312 5,055,260 5,100,528 5,128,700 5,353,330Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,911,100 8,048,533 8,051,937 8,051,937 8,051,937 8,051,937 8,051,937 8,060,000 8,051,937 8,031,777 8,051,937 8,055,000 8,279,630

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -88,899.87 48,533.28 51,936.68 51,936.68 51,936.68 51,936.68 51,936.68 60,000.13 51,936.68 31,776.68 51,936.68 55,000.13 279,630.46

Total liabilit 7,911,100 8,048,533 8,051,937 8,051,937 8,051,937 8,051,937 8,051,937 8,060,000 8,051,937 8,031,777 8,051,937 8,055,000 8,279,630

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,480,588.12 5,517,711.35 5,543,369.68 5,569,028.01 5,594,686.34 5,620,344.67 5,650,985.80 5,671,661.33 5,677,159.66 5,722,977.99 5,748,619.12 5,265,980.36

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,565,689 5,595,025 5,620,134 5,645,242 5,670,350 5,695,459 5,729,168 5,745,675 5,750,624 5,795,892 5,824,601 6,152,440Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,066,772 8,071,000 8,071,000 8,071,000 8,071,000 8,071,000 8,079,601 8,071,000 8,050,840 8,071,000 8,074,601 8,402,440

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -92,448.62 66,771.88 71,000.38 71,000.38 71,000.38 71,000.38 71,000.38 79,601.38 71,000.38 50,840.38 71,000.38 74,601.38 402,439.62

Total liabilit 7,907,551 8,066,772 8,071,000 8,071,000 8,071,000 8,071,000 8,071,000 8,079,601 8,071,000 8,050,840 8,071,000 8,074,601 8,402,440

Product Box Limited PartnershipsBlance Sheet

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,595,093.26 3,682,329.51 3,701,504.20 3,727,162.53 3,752,820.86 3,778,479.19 3,804,137.52 3,834,147.67 3,855,454.18 3,881,112.51 3,906,770.84 3,931,780.99 3,338,943.50

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,653,040 3,742,198 3,755,880 3,780,988 3,806,096 3,831,205 3,856,313 3,888,245 3,906,530 3,931,638 3,956,746 3,983,678 3,944,407Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,946,932 8,010,981 7,999,555 7,999,555 7,999,555 7,999,555 7,999,555 8,006,378 7,999,555 7,999,555 7,999,555 8,001,378 7,962,107

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -53,068.19 10,981.01 -445.19 -445.19 -445.19 -445.19 -445.19 6,377.91 -445.19 -445.19 -445.19 1,377.91 -37,892.90

Total liabilit 7,946,932 8,010,981 7,999,555 7,999,555 7,999,555 7,999,555 7,999,555 8,006,378 7,999,555 7,999,555 7,999,555 8,001,378 7,962,107

Product Box Limited PartnershipsBlance Sheet

Year 1

162

Year2

Year3

Year4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,850,594.78 3,973,265.20 4,011,540.15 4,037,198.48 4,062,856.81 4,088,515.14 4,114,173.47 4,143,453.09 4,165,490.13 4,170,988.46 4,216,806.79 4,241,086.41 3,640,150.40

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumul 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,913,731 4,038,570 4,070,858 4,095,967 4,121,075 4,146,183 4,171,292 4,202,740 4,221,508 4,226,457 4,271,725 4,298,173 4,306,160Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumul 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumul 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,906,323 8,006,054 8,013,233 8,013,233 8,013,233 8,013,233 8,013,233 8,019,573 8,013,233 7,993,073 8,013,233 8,014,573 8,022,560

LiabilityCurrent liability

Owner's equity Investor c 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,676.99 6,053.51 13,233.32 13,233.32 13,233.32 13,233.32 13,233.32 19,573.02 13,233.32 -6,926.69 13,233.32 14,573.02 22,560.36

Total liabilit 7,906,323 8,006,054 8,013,233 8,013,233 8,013,233 8,013,233 8,013,233 8,019,573 8,013,233 7,993,073 8,013,233 8,014,573 8,022,560

Product Box Limited PartnershipsBlance Sheet

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,144,600.67 4,285,663.75 4,322,684.07 4,348,342.40 4,374,000.73 4,399,659.06 4,425,317.39 4,455,334.58 4,476,634.05 4,482,132.38 4,527,950.71 4,552,967.90 3,557,705.65

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,213,446 4,356,949 4,387,439 4,412,547 4,437,656 4,462,764 4,487,872 4,520,330 4,538,089 4,543,037 4,588,306 4,615,763 4,290,317Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,904,738 8,023,133 8,028,514 8,028,514 8,028,514 8,028,514 8,028,514 8,035,863 8,028,514 8,008,354 8,028,514 8,030,863 8,120,517

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -95,262.44 23,132.56 28,514.06 28,514.06 28,514.06 28,514.06 28,514.06 35,863.16 28,514.06 8,354.06 28,514.06 30,863.16 120,516.61

Total liabilit 7,904,738 8,023,133 8,028,514 8,028,514 8,028,514 8,028,514 8,028,514 8,035,863 8,028,514 8,008,354 8,028,514 8,030,863 8,120,517

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,627,074.73 4,786,876.94 4,822,517.21 4,848,175.54 4,873,833.87 4,899,492.20 4,925,150.53 4,955,583.04 4,976,467.19 4,981,965.52 5,027,783.85 5,053,216.36 4,501,698.24

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,702,199 4,864,741 4,893,253 4,918,361 4,943,469 4,968,578 4,993,686 5,026,858 5,043,903 5,048,851 5,094,119 5,122,291 5,307,570Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,904,691 8,042,124 8,045,528 8,045,528 8,045,528 8,045,528 8,045,528 8,053,591 8,045,528 8,025,368 8,045,528 8,048,591 8,233,870

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -95,308.85 42,124.30 45,527.70 45,527.70 45,527.70 45,527.70 45,527.70 53,591.15 45,527.70 25,367.70 45,527.70 48,591.15 233,870.29

Total liabilit 7,904,691 8,042,124 8,045,528 8,045,528 8,045,528 8,045,528 8,045,528 8,053,591 8,045,528 8,025,368 8,045,528 8,048,591 8,233,870

Year 4

Product Box Limited PartnershipsBlance Sheet

163

Year5

If administrative risk increase 15% Year1

Year2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,474,050.92 5,511,174.16 5,536,832.49 5,562,490.82 5,588,149.15 5,613,807.48 5,644,448.61 5,665,124.14 5,670,622.47 5,716,440.80 5,742,081.93 5,219,304.78

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,559,151 5,588,488 5,613,597 5,638,705 5,663,813 5,688,921 5,722,631 5,739,138 5,744,086 5,789,355 5,818,064 6,105,764Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,060,235 8,064,463 8,064,463 8,064,463 8,064,463 8,064,463 8,073,064 8,064,463 8,044,303 8,064,463 8,068,064 8,355,764

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -98,985.81 60,234.69 64,463.19 64,463.19 64,463.19 64,463.19 64,463.19 73,064.19 64,463.19 44,303.19 64,463.19 68,064.19 355,764.04

Total liabilit 7,901,014 8,060,235 8,064,463 8,064,463 8,064,463 8,064,463 8,064,463 8,073,064 8,064,463 8,044,303 8,064,463 8,068,064 8,355,764

Product Box Limited PartnershipsBlance Sheet

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,589,053.92 3,676,290.17 3,695,464.86 3,721,123.19 3,746,781.52 3,772,439.85 3,798,098.18 3,828,108.33 3,849,414.84 3,875,073.17 3,900,731.50 3,925,741.65 3,266,471.46

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,647,001 3,736,158 3,749,840 3,774,949 3,800,057 3,825,165 3,850,274 3,882,205 3,900,490 3,925,599 3,950,707 3,977,639 3,871,935Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,940,892 8,004,942 7,993,515 7,993,515 7,993,515 7,993,515 7,993,515 8,000,339 7,993,515 7,993,515 7,993,515 7,995,339 7,889,635

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -59,107.53 4,941.67 -6,484.53 -6,484.53 -6,484.53 -6,484.53 -6,484.53 338.57 -6,484.53 -6,484.53 -6,484.53 -4,661.43 -110,364.94

Total liabilit 7,940,892 8,004,942 7,993,515 7,993,515 7,993,515 7,993,515 7,993,515 8,000,339 7,993,515 7,993,515 7,993,515 7,995,339 7,889,635

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,844,434.16 3,967,104.58 4,005,379.53 4,031,037.86 4,056,696.19 4,082,354.52 4,108,012.85 4,137,292.47 4,159,329.51 4,164,827.84 4,210,646.17 4,234,925.79 3,575,891.71

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,907,571 4,032,410 4,064,698 4,089,806 4,114,914 4,140,023 4,165,131 4,196,579 4,215,348 4,220,296 4,265,564 4,292,012 4,241,902Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,900,162 7,999,893 8,007,073 8,007,073 8,007,073 8,007,073 8,007,073 8,013,412 8,007,073 7,986,913 8,007,073 8,008,412 7,958,302

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -99,837.60 -107.10 7,072.70 7,072.70 7,072.70 7,072.70 7,072.70 13,412.40 7,072.70 -13,087.30 7,072.70 8,412.40 -41,698.33

Total liabilit 7,900,162 7,999,893 8,007,073 8,007,073 8,007,073 8,007,073 8,007,073 8,013,412 8,007,073 7,986,913 8,007,073 8,008,412 7,958,302

Product Box Limited PartnershipsBlance Sheet

Year 2

164

Year3

Year4

Year5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,138,317.35 4,279,380.43 4,316,400.75 4,342,059.08 4,367,717.41 4,393,375.74 4,419,034.07 4,449,051.26 4,470,350.73 4,475,849.06 4,521,667.39 4,546,684.58 3,526,193.40

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,207,163 4,350,666 4,381,156 4,406,264 4,431,372 4,456,481 4,481,589 4,514,046 4,531,806 4,536,754 4,582,022 4,609,480 4,258,804Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,898,454 8,016,849 8,022,231 8,022,231 8,022,231 8,022,231 8,022,231 8,029,580 8,022,231 8,002,071 8,022,231 8,024,580 8,089,004

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -101,545.76 16,849.24 22,230.74 22,230.74 22,230.74 22,230.74 22,230.74 29,579.84 22,230.74 2,070.74 22,230.74 24,579.84 89,004.36

Total liabilit 7,898,454 8,016,849 8,022,231 8,022,231 8,022,231 8,022,231 8,022,231 8,029,580 8,022,231 8,002,071 8,022,231 8,024,580 8,089,004

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,620,665.74 4,780,467.95 4,816,108.23 4,841,766.56 4,867,424.89 4,893,083.22 4,918,741.55 4,949,174.05 4,970,058.21 4,975,556.54 5,021,374.87 5,046,807.37 4,455,938.08

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,695,790 4,858,332 4,886,844 4,911,952 4,937,060 4,962,169 4,987,277 5,020,449 5,037,494 5,042,442 5,087,710 5,115,882 5,261,810Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,898,282 8,035,715 8,039,119 8,039,119 8,039,119 8,039,119 8,039,119 8,047,182 8,039,119 8,018,959 8,039,119 8,042,182 8,188,110

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -101,717.84 35,715.31 39,118.71 39,118.71 39,118.71 39,118.71 39,118.71 47,182.16 39,118.71 18,958.71 39,118.71 42,182.16 188,110.13

Total liabilit 7,898,282 8,035,715 8,039,119 8,039,119 8,039,119 8,039,119 8,039,119 8,047,182 8,039,119 8,018,959 8,039,119 8,042,182 8,188,110

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,467,513.73 5,504,636.96 5,530,295.29 5,555,953.62 5,581,611.95 5,607,270.28 5,637,911.41 5,658,586.94 5,664,085.27 5,709,903.60 5,735,544.73 5,172,629.20

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,552,614 5,581,951 5,607,059 5,632,168 5,657,276 5,682,384 5,716,094 5,732,601 5,737,549 5,782,818 5,811,527 6,059,088Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,053,697 8,057,926 8,057,926 8,057,926 8,057,926 8,057,926 8,066,527 8,057,926 8,037,766 8,057,926 8,061,527 8,309,088

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -105,523.01 53,697.49 57,925.99 57,925.99 57,925.99 57,925.99 57,925.99 66,526.99 57,925.99 37,765.99 57,925.99 61,526.99 309,088.46

Total liabilit 7,894,477 8,053,697 8,057,926 8,057,926 8,057,926 8,057,926 8,057,926 8,066,527 8,057,926 8,037,766 8,057,926 8,061,527 8,309,088

Product Box Limited PartnershipsBlance Sheet

Year 5

165

Expense Risk ; Income Statement

If expense increase 5% Year 1

Year 2

Year1 Year2 Year3 Year4 Year5

Normal 122,380.04 202,300.04 220,923.64 240,711.29 269,822.84

Increase5% 128,499.04 212,415.04 231,969.82 252,746.85 283,313.98

Increase10% 134,618.04 222,530.04 243,016.00 264,782.42 296,805.12

Increase15% 140,737.05 232,645.05 254,062.19 276,817.98 310,296.27

0.00

50,000.00

100,000.00

150,000.00

200,000.00

250,000.00

300,000.00

350,000.00

Baht

Expense increase

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 383,273.80 421601.6 383273.8 383273.8 383273.8 383273.8 383273.8 402437.7 383273.8 383273.8 383273.8 402437.7 4,675,941.20Gross Profit 191,637.20 180,686.40 164,260.20 164,260.20 164,260.20 164,260.20 164,260.20 172,473.30 164,260.20 164,260.20 164,260.20 172,473.30 2,031,354.80Administrativ 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expen 86,590.00 7,840.00 2,590.00 2,590.00 2,590.00 2,590.00 2,590.00 4,049.50 2,590.00 2,590.00 2,590.00 9,299.50 128,499.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -45,112.85 22,686.35 11,510.15 11,510.15 11,510.15 11,510.15 11,510.15 18,263.75 11,510.15 11,510.15 11,510.15 13,013.75 100,932.16Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -45,112.85 22,686.35 11,510.15 11,510.15 11,510.15 11,510.15 11,510.15 18,263.75 11,510.15 11,510.15 11,510.15 13,013.75 100,932.16Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -45,112.85 22,686.35 11,510.15 11,510.15 11,510.15 11,510.15 11,510.15 18,263.75 11,510.15 11,510.15 11,510.15 13,013.75 100,932.16Dividend 0 0 0 0 0 0 0 0 0 0 0 0 30279.6474Retain Earnin -45,112.85 22,686.35 11,510.15 11,510.15 11,510.15 11,510.15 11,510.15 18,263.75 11,510.15 11,510.15 11,510.15 13,013.75 70,652.51

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90Gross Profit 189,720.60 198,755.10 180,686.90 180,686.90 180,686.90 180,686.90 180,686.90 189,720.60 180,686.90 180,686.90 180,686.90 189,720.60 2,213,412.10Administrativ 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expen 124,415.20 29,184.40 2,674.00 2,674.00 2,674.00 2,674.00 2,674.00 5,502.70 2,674.00 23,842.00 2,674.00 10,752.70 212,415.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -87,280.28 16,985.02 25,427.22 25,427.22 25,427.22 25,427.22 25,427.22 31,632.22 25,427.22 4,259.22 25,427.22 26,382.22 169,968.90Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -87,280.28 16,985.02 25,427.22 25,427.22 25,427.22 25,427.22 25,427.22 31,632.22 25,427.22 4,259.22 25,427.22 26,382.22 169,968.90Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 25495.3347Net income -87,280.28 16,985.02 25,427.22 25,427.22 25,427.22 25,427.22 25,427.22 31,632.22 25,427.22 4,259.22 25,427.22 26,382.22 144,473.56Dividend 0 0 0 0 0 0 0 0 0 0 0 0 43342.06899Retan earning -87,280.28 16,985.02 25,427.22 25,427.22 25,427.22 25,427.22 25,427.22 31,632.22 25,427.22 4,259.22 25,427.22 26,382.22 101,131.49

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

166

Year 3

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,081.00Gross Profit 208,692.60 218,630.40 198,755.10 198,755.10 198,755.10 198,755.10 198,755.10 208,692.60 198,755.10 198,755.10 198,755.10 208,692.60 2,434,749.00Administrativ 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expen 143,166.10 29,286.04 2,766.40 2,766.40 2,766.40 2,766.40 2,766.40 5,484.22 2,766.40 23,934.40 2,766.40 10,734.22 231,969.82Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -89,513.23 34,304.63 40,948.97 40,948.97 40,948.97 40,948.97 40,948.97 48,168.65 40,948.97 19,780.97 40,948.97 42,918.65 342,302.42Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -89,513.23 34,304.63 40,948.97 40,948.97 40,948.97 40,948.97 40,948.97 48,168.65 40,948.97 19,780.97 40,948.97 42,918.65 342,302.42Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 51345.3627Net income -89,513.23 34,304.63 40,948.97 40,948.97 40,948.97 40,948.97 40,948.97 48,168.65 40,948.97 19,780.97 40,948.97 42,918.65 290,957.06Dividend 0 0 0 0 0 0 0 0 0 0 0 0 87287.11659Retan earning -89,513.23 34,304.63 40,948.97 40,948.97 40,948.97 40,948.97 40,948.97 48,168.65 40,948.97 19,780.97 40,948.97 42,918.65 203,669.94

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187.00Gross Profit 229,562.10 240,493.50 218,630.40 218,630.40 218,630.40 218,630.40 218,630.40 229,562.10 218,630.40 218,630.40 218,630.40 229,562.10 2,678,223.00Administrativ 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expen 162,224.92 29,398.08 2,868.25 2,868.25 2,868.25 2,868.25 2,868.25 5,879.92 2,868.25 24,036.25 2,868.25 11,129.92 252,746.85Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -90,215.88 53,542.36 58,209.09 58,209.09 58,209.09 58,209.09 58,209.09 66,129.12 58,209.09 37,041.09 58,209.09 60,879.12 534,839.43Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -90,215.88 53,542.36 58,209.09 58,209.09 58,209.09 58,209.09 58,209.09 66,129.12 58,209.09 37,041.09 58,209.09 60,879.12 534,839.43Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 80225.91383Net income -90,215.88 53,542.36 58,209.09 58,209.09 58,209.09 58,209.09 58,209.09 66,129.12 58,209.09 37,041.09 58,209.09 60,879.12 454,613.51Dividend 0 0 0 0 0 0 0 0 0 0 0 0 136384.0535Retan earning -90,215.88 53,542.36 58,209.09 58,209.09 58,209.09 58,209.09 58,209.09 66,129.12 58,209.09 37,041.09 58,209.09 60,879.12 318,229.46

Product Box Limited PartnershipsIncome Statements

At the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 589,208.90 617,267.00 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70Gross Profit 252,518.10 264,543.00 240,493.50 240,493.50 240,493.50 240,493.50 240,493.50 252,518.10 240,493.50 240,493.50 240,493.50 252,518.10 2,946,045.30Administrativ 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expen 187,227.88 32,672.50 2,980.60 2,980.60 2,980.60 2,980.60 2,980.60 6,575.38 2,980.60 24,148.60 2,980.60 11,825.38 283,313.98Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -94,827.03 71,753.25 77,395.65 77,395.65 77,395.65 77,395.65 77,395.65 85,825.47 77,395.65 56,227.65 77,395.65 80,575.47 741,324.32Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -94,827.03 71,753.25 77,395.65 77,395.65 77,395.65 77,395.65 77,395.65 85,825.47 77,395.65 56,227.65 77,395.65 80,575.47 741,324.32Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 111198.6477Net income -94,827.03 71,753.25 77,395.65 77,395.65 77,395.65 77,395.65 77,395.65 85,825.47 77,395.65 56,227.65 77,395.65 80,575.47 630,125.67Dividend 0 0 0 0 0 0 0 0 0 0 0 0 189037.7011Retan earning -94,827.03 71,753.25 77,395.65 77,395.65 77,395.65 77,395.65 77,395.65 85,825.47 77,395.65 56,227.65 77,395.65 80,575.47 441,087.97

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

167

If expense increase 10% Year1

Year 2

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 383,273.80 421601.6 383273.8 383273.8 383273.8 383273.8 383273.8 402437.7 383273.8 383273.8 383273.8 402437.7 4,675,941.20Gross Profit 191,637.20 180,686.40 164,260.20 164,260.20 164,260.20 164,260.20 164,260.20 172,473.30 164,260.20 164,260.20 164,260.20 172,473.30 2,031,354.80Administrativ 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expen 90,713.34 8,213.34 2,713.34 2,713.34 2,713.34 2,713.34 2,713.34 4,242.34 2,713.34 2,713.34 2,713.34 9,742.34 134,618.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -49,236.19 22,313.01 11,386.81 11,386.81 11,386.81 11,386.81 11,386.81 18,070.91 11,386.81 11,386.81 11,386.81 12,570.91 94,813.16Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -49,236.19 22,313.01 11,386.81 11,386.81 11,386.81 11,386.81 11,386.81 18,070.91 11,386.81 11,386.81 11,386.81 12,570.91 94,813.16Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -49,236.19 22,313.01 11,386.81 11,386.81 11,386.81 11,386.81 11,386.81 18,070.91 11,386.81 11,386.81 11,386.81 12,570.91 94,813.16Dividend 0 0 0 0 0 0 0 0 0 0 0 0 28443.9468Retain Earnin -49,236.19 22,313.01 11,386.81 11,386.81 11,386.81 11,386.81 11,386.81 18,070.91 11,386.81 11,386.81 11,386.81 12,570.91 66,369.21

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90Gross Profit 189,720.60 198,755.10 180,686.90 180,686.90 180,686.90 180,686.90 180,686.90 189,720.60 180,686.90 180,686.90 180,686.90 189,720.60 2,213,412.10Administrativ 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expen 130,339.74 30,574.14 2,801.34 2,801.34 2,801.34 2,801.34 2,801.34 5,764.74 2,801.34 24,977.34 2,801.34 11,264.74 222,530.04Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -93,204.82 15,595.28 25,299.88 25,299.88 25,299.88 25,299.88 25,299.88 31,370.18 25,299.88 3,123.88 25,299.88 25,870.18 159,853.90Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -93,204.82 15,595.28 25,299.88 25,299.88 25,299.88 25,299.88 25,299.88 31,370.18 25,299.88 3,123.88 25,299.88 25,870.18 159,853.90Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 23978.0844Net income -93,204.82 15,595.28 25,299.88 25,299.88 25,299.88 25,299.88 25,299.88 31,370.18 25,299.88 3,123.88 25,299.88 25,870.18 135,875.81Dividend 0 0 0 0 0 0 0 0 0 0 0 0 40762.74348Retan earning -93,204.82 15,595.28 25,299.88 25,299.88 25,299.88 25,299.88 25,299.88 31,370.18 25,299.88 3,123.88 25,299.88 25,870.18 95,113.07

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,081.00Gross Profit 208,692.60 218,630.40 198,755.10 198,755.10 198,755.10 198,755.10 198,755.10 208,692.60 198,755.10 198,755.10 198,755.10 208,692.60 2,434,749.00Administrativ 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expen 149,983.54 30,680.62 2,898.14 2,898.14 2,898.14 2,898.14 2,898.14 5,745.38 2,898.14 25,074.14 2,898.14 11,245.38 243,016.00Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -96,330.67 32,910.05 40,817.23 40,817.23 40,817.23 40,817.23 40,817.23 47,907.49 40,817.23 18,641.23 40,817.23 42,407.49 331,256.24Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -96,330.67 32,910.05 40,817.23 40,817.23 40,817.23 40,817.23 40,817.23 47,907.49 40,817.23 18,641.23 40,817.23 42,407.49 331,256.24Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 49688.4354Net income -96,330.67 32,910.05 40,817.23 40,817.23 40,817.23 40,817.23 40,817.23 47,907.49 40,817.23 18,641.23 40,817.23 42,407.49 281,567.80Dividend 0 0 0 0 0 0 0 0 0 0 0 0 84470.34018Retan earning -96,330.67 32,910.05 40,817.23 40,817.23 40,817.23 40,817.23 40,817.23 47,907.49 40,817.23 18,641.23 40,817.23 42,407.49 197,097.46

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

168

Year 4

Year 5

If expense increase 15% Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187.00Gross Profit 229,562.10 240,493.50 218,630.40 218,630.40 218,630.40 218,630.40 218,630.40 229,562.10 218,630.40 218,630.40 218,630.40 229,562.10 2,678,223.00Administrativ 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expen 169,949.91 30,797.99 3,004.84 3,004.84 3,004.84 3,004.84 3,004.84 6,159.91 3,004.84 25,180.84 3,004.84 11,659.91 264,782.42Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -97,940.87 52,142.45 58,072.50 58,072.50 58,072.50 58,072.50 58,072.50 65,849.13 58,072.50 35,896.50 58,072.50 60,349.13 522,803.86Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -97,940.87 52,142.45 58,072.50 58,072.50 58,072.50 58,072.50 58,072.50 65,849.13 58,072.50 35,896.50 58,072.50 60,349.13 522,803.86Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 78420.57915Net income -97,940.87 52,142.45 58,072.50 58,072.50 58,072.50 58,072.50 58,072.50 65,849.13 58,072.50 35,896.50 58,072.50 60,349.13 444,383.28Dividend 0 0 0 0 0 0 0 0 0 0 0 0 133314.9846Retan earning -97,940.87 52,142.45 58,072.50 58,072.50 58,072.50 58,072.50 58,072.50 65,849.13 58,072.50 35,896.50 58,072.50 60,349.13 311,068.30

Product Box Limited PartnershipsIncome Statements

At the ended of year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 589,208.90 617,267.00 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70Gross Profit 252,518.10 264,543.00 240,493.50 240,493.50 240,493.50 240,493.50 240,493.50 252,518.10 240,493.50 240,493.50 240,493.50 252,518.10 2,946,045.30Administrativ 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expen 196,143.50 34,228.34 3,122.54 3,122.54 3,122.54 3,122.54 3,122.54 6,888.50 3,122.54 25,298.54 3,122.54 12,388.50 296,805.12Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -103,742.65 70,197.41 77,253.71 77,253.71 77,253.71 77,253.71 77,253.71 85,512.35 77,253.71 55,077.71 77,253.71 80,012.35 727,833.18Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -103,742.65 70,197.41 77,253.71 77,253.71 77,253.71 77,253.71 77,253.71 85,512.35 77,253.71 55,077.71 77,253.71 80,012.35 727,833.18Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 109174.9764Net income -103,742.65 70,197.41 77,253.71 77,253.71 77,253.71 77,253.71 77,253.71 85,512.35 77,253.71 55,077.71 77,253.71 80,012.35 618,658.20Dividend 0 0 0 0 0 0 0 0 0 0 0 0 185597.4599Retan earning -103,742.65 70,197.41 77,253.71 77,253.71 77,253.71 77,253.71 77,253.71 85,512.35 77,253.71 55,077.71 77,253.71 80,012.35 433,060.74

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 574911 602288 547534 547534 547534 547534 547534 574911 547534 547534 547534 574911 6707296Cost of good 383,273.80 421601.6 383273.8 383273.8 383273.8 383273.8 383273.8 402437.7 383273.8 383273.8 383273.8 402437.7 4,675,941.20Gross Profit 191,637.20 180,686.40 164,260.20 164,260.20 164,260.20 164,260.20 164,260.20 172,473.30 164,260.20 164,260.20 164,260.20 172,473.30 2,031,354.80Administrativ 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 120,786.72 1,449,440.64Selling expen 94,836.67 8,586.67 2,836.67 2,836.67 2,836.67 2,836.67 2,836.67 4,435.17 2,836.67 2,836.67 2,836.67 10,185.17 140,737.05Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -53,359.52 21,939.68 11,263.48 11,263.48 11,263.48 11,263.48 11,263.48 17,878.08 11,263.48 11,263.48 11,263.48 12,128.08 88,694.15Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -53,359.52 21,939.68 11,263.48 11,263.48 11,263.48 11,263.48 11,263.48 17,878.08 11,263.48 11,263.48 11,263.48 12,128.08 88,694.15Taxes 0 0 0 0 0 0 0 0 0 0 0 0 0Net income -53,359.52 21,939.68 11,263.48 11,263.48 11,263.48 11,263.48 11,263.48 17,878.08 11,263.48 11,263.48 11,263.48 12,128.08 88,694.15Dividend 0 0 0 0 0 0 0 0 0 0 0 0 26608.2462Retain Earnin -53,359.52 21,939.68 11,263.48 11,263.48 11,263.48 11,263.48 11,263.48 17,878.08 11,263.48 11,263.48 11,263.48 12,128.08 62,085.91

Product Box Limited PartnershipsIncome Statements

At the ended of year 1

169

Year 2

Year 3

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 632402 662517 602288 602288 602288 602288 602288 632402 602288 602288 602288 632402 7378027Cost of good 442,681.40 463,761.90 421,601.10 421,601.10 421,601.10 421,601.10 421,601.10 442,681.40 421,601.10 421,601.10 421,601.10 442,681.40 5,164,614.90Gross Profit 189,720.60 198,755.10 180,686.90 180,686.90 180,686.90 180,686.90 180,686.90 189,720.60 180,686.90 180,686.90 180,686.90 189,720.60 2,213,412.10Administrativ 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 123,212.35 1,478,548.20Selling expen 136,264.27 31,963.87 2,928.67 2,928.67 2,928.67 2,928.67 2,928.67 6,026.77 2,928.67 26,112.67 2,928.67 11,776.77 232,645.05Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -99,129.35 14,205.55 25,172.55 25,172.55 25,172.55 25,172.55 25,172.55 31,108.15 25,172.55 1,988.55 25,172.55 25,358.15 149,738.89Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -99,129.35 14,205.55 25,172.55 25,172.55 25,172.55 25,172.55 25,172.55 31,108.15 25,172.55 1,988.55 25,172.55 25,358.15 149,738.89Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 22460.8341Net income -99,129.35 14,205.55 25,172.55 25,172.55 25,172.55 25,172.55 25,172.55 31,108.15 25,172.55 1,988.55 25,172.55 25,358.15 127,278.06Dividend 0 0 0 0 0 0 0 0 0 0 0 0 38183.41797Retan earning -99,129.35 14,205.55 25,172.55 25,172.55 25,172.55 25,172.55 25,172.55 31,108.15 25,172.55 1,988.55 25,172.55 25,358.15 89,094.64

Product Box Limited PartnershipsIncome Statements

At the ended of year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 695642 728768 662517 662517 662517 662517 662517 695642 662517 662517 662517 695642 8115830Cost of good 486,949.40 510,137.60 463,761.90 463,761.90 463,761.90 463,761.90 463,761.90 486,949.40 463,761.90 463,761.90 463,761.90 486,949.40 5,681,081.00Gross Profit 208,692.60 218,630.40 198,755.10 198,755.10 198,755.10 198,755.10 198,755.10 208,692.60 198,755.10 198,755.10 198,755.10 208,692.60 2,434,749.00Administrativ 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 125,666.40 1,507,996.80Selling expen 156,800.97 32,075.19 3,029.87 3,029.87 3,029.87 3,029.87 3,029.87 6,006.53 3,029.87 26,213.87 3,029.87 11,756.53 254,062.19Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -103,148.10 31,515.48 40,685.50 40,685.50 40,685.50 40,685.50 40,685.50 47,646.34 40,685.50 17,501.50 40,685.50 41,896.34 320,210.05Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -103,148.10 31,515.48 40,685.50 40,685.50 40,685.50 40,685.50 40,685.50 47,646.34 40,685.50 17,501.50 40,685.50 41,896.34 320,210.05Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 48031.5081Net income -103,148.10 31,515.48 40,685.50 40,685.50 40,685.50 40,685.50 40,685.50 47,646.34 40,685.50 17,501.50 40,685.50 41,896.34 272,178.55Dividend 0 0 0 0 0 0 0 0 0 0 0 0 81653.56377Retan earning -103,148.10 31,515.48 40,685.50 40,685.50 40,685.50 40,685.50 40,685.50 47,646.34 40,685.50 17,501.50 40,685.50 41,896.34 190,524.98

Product Box Limited PartnershipsIncome Statements

At the ended of year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 765207 801645 728768 728768 728768 728768 728768 765207 728768 728768 728768 765207 8927410Cost of good 535,644.90 561,151.50 510,137.60 510,137.60 510,137.60 510,137.60 510,137.60 535,644.90 510,137.60 510,137.60 510,137.60 535,644.90 6,249,187.00Gross Profit 229,562.10 240,493.50 218,630.40 218,630.40 218,630.40 218,630.40 218,630.40 229,562.10 218,630.40 218,630.40 218,630.40 229,562.10 2,678,223.00Administrativ 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 128,179.73 1,538,156.76Selling expen 177,674.91 32,197.90 3,141.42 3,141.42 3,141.42 3,141.42 3,141.42 6,439.91 3,141.42 26,325.42 3,141.42 12,189.91 276,817.98Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -105,665.87 50,742.54 57,935.92 57,935.92 57,935.92 57,935.92 57,935.92 65,569.13 57,935.92 34,751.92 57,935.92 59,819.13 510,768.30Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -105,665.87 50,742.54 57,935.92 57,935.92 57,935.92 57,935.92 57,935.92 65,569.13 57,935.92 34,751.92 57,935.92 59,819.13 510,768.30Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 76615.24448Net income -105,665.87 50,742.54 57,935.92 57,935.92 57,935.92 57,935.92 57,935.92 65,569.13 57,935.92 34,751.92 57,935.92 59,819.13 434,153.05Dividend 0 0 0 0 0 0 0 0 0 0 0 0 130245.9156Retan earning -105,665.87 50,742.54 57,935.92 57,935.92 57,935.92 57,935.92 57,935.92 65,569.13 57,935.92 34,751.92 57,935.92 59,819.13 303,907.14

Product Box Limited PartnershipsIncome StatementsAt the ended of year 4

170

Year 5

Expense Risk : Balance sheet If expense increase 5% Year 1

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Sale Revenue 841727 881810 801645 801645 801645 801645 801645 841727 801645 801645 801645 841727 9820151Cost of good 589,208.90 617,267.00 561,151.50 561,151.50 561,151.50 561,151.50 561,151.50 589,208.90 561,151.50 561,151.50 561,151.50 589,208.90 6,874,105.70Gross Profit 252,518.10 264,543.00 240,493.50 240,493.50 240,493.50 240,493.50 240,493.50 252,518.10 240,493.50 240,493.50 240,493.50 252,518.10 2,946,045.30Administrativ 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 130,743.92 1,568,927.04Selling expen 205,059.11 35,784.17 3,264.47 3,264.47 3,264.47 3,264.47 3,264.47 7,201.61 3,264.47 26,448.47 3,264.47 12,951.61 310,296.27Depreciation 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 29,373.33 352,479.96Earnings befo -112,658.26 68,641.58 77,111.78 77,111.78 77,111.78 77,111.78 77,111.78 85,199.24 77,111.78 53,927.78 77,111.78 79,449.24 714,342.03Interest paid 0 0 0 0 0 0 0 0 0 0 0 0 0Taxable incom -112,658.26 68,641.58 77,111.78 77,111.78 77,111.78 77,111.78 77,111.78 85,199.24 77,111.78 53,927.78 77,111.78 79,449.24 714,342.03Taxes (15%) 0 0 0 0 0 0 0 0 0 0 0 0 107151.3051Net income -112,658.26 68,641.58 77,111.78 77,111.78 77,111.78 77,111.78 77,111.78 85,199.24 77,111.78 53,927.78 77,111.78 79,449.24 607,190.73Dividend 0 0 0 0 0 0 0 0 0 0 0 0 182157.2187Retan earning -112,658.26 68,641.58 77,111.78 77,111.78 77,111.78 77,111.78 77,111.78 85,199.24 77,111.78 53,927.78 77,111.78 79,449.24 425,033.51

At the ended of year 5

Product Box Limited PartnershipsIncome Statements

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,603,048.60 3,694,034.85 3,713,459.54 3,739,117.87 3,764,776.20 3,790,434.53 3,816,092.86 3,846,033.51 3,867,409.52 3,893,067.85 3,918,726.18 3,943,416.83 3,447,488.91

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,660,995 3,753,903 3,767,835 3,792,943 3,818,052 3,843,160 3,868,268 3,900,130 3,918,485 3,943,593 3,968,702 3,995,314 4,052,953Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,954,887 8,022,686 8,011,510 8,011,510 8,011,510 8,011,510 8,011,510 8,018,264 8,011,510 8,011,510 8,011,510 8,013,014 8,070,653

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -45,112.85 22,686.35 11,510.15 11,510.15 11,510.15 11,510.15 11,510.15 18,263.75 11,510.15 11,510.15 11,510.15 13,013.75 70,652.51

Total liabilit 7,954,887 8,022,686 8,011,510 8,011,510 8,011,510 8,011,510 8,011,510 8,018,264 8,011,510 8,011,510 8,011,510 8,013,014 8,070,653

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,856,991.48 3,984,196.70 4,023,734.05 4,049,392.38 4,075,050.71 4,100,709.04 4,126,367.37 4,155,512.29 4,177,684.03 4,182,174.36 4,229,000.69 4,252,895.61 3,718,721.53

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,920,128 4,049,502 4,083,052 4,108,161 4,133,269 4,158,377 4,183,486 4,214,799 4,233,702 4,237,643 4,283,919 4,309,982 4,384,731Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,912,720 8,016,985 8,025,427 8,025,427 8,025,427 8,025,427 8,025,427 8,031,632 8,025,427 8,004,259 8,025,427 8,026,382 8,101,131

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -87,280.28 16,985.02 25,427.22 25,427.22 25,427.22 25,427.22 25,427.22 31,632.22 25,427.22 4,259.22 25,427.22 26,382.22 101,131.49

Total liabilit 7,912,720 8,016,985 8,025,427 8,025,427 8,025,427 8,025,427 8,025,427 8,031,632 8,025,427 8,004,259 8,025,427 8,026,382 8,101,131

Product Box Limited PartnershipsBlance Sheet

Year 2

171

Year 3

Year 4

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,150,349.87 4,296,835.81 4,335,118.98 4,360,777.31 4,386,435.64 4,412,093.97 4,437,752.30 4,467,640.06 4,489,068.96 4,493,559.29 4,540,385.62 4,565,023.38 3,640,858.98

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,219,195 4,368,121 4,399,874 4,424,982 4,450,091 4,475,199 4,500,307 4,532,635 4,550,524 4,554,464 4,600,741 4,627,819 4,373,470Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,910,487 8,034,305 8,040,949 8,040,949 8,040,949 8,040,949 8,040,949 8,048,169 8,040,949 8,019,781 8,040,949 8,042,919 8,203,670

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -89,513.23 34,304.63 40,948.97 40,948.97 40,948.97 40,948.97 40,948.97 48,168.65 40,948.97 19,780.97 40,948.97 42,918.65 203,669.94

Total liabilit 7,910,487 8,034,305 8,040,949 8,040,949 8,040,949 8,040,949 8,040,949 8,048,169 8,040,949 8,019,781 8,040,949 8,042,919 8,203,670

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,632,167.71 4,798,295.00 4,835,198.60 4,860,856.93 4,886,515.26 4,912,173.59 4,937,831.92 4,968,121.02 4,989,148.58 4,993,638.91 5,040,465.24 5,065,504.34 4,586,057.41

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,707,292 4,876,159 4,905,934 4,931,042 4,956,151 4,981,259 5,006,367 5,039,396 5,056,584 5,060,524 5,106,801 5,134,579 5,391,929Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,909,784 8,053,542 8,058,209 8,058,209 8,058,209 8,058,209 8,058,209 8,066,129 8,058,209 8,037,041 8,058,209 8,060,879 8,318,229

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -90,215.88 53,542.36 58,209.09 58,209.09 58,209.09 58,209.09 58,209.09 66,129.12 58,209.09 37,041.09 58,209.09 60,879.12 318,229.46

Total liabilit 7,909,784 8,053,542 8,058,209 8,058,209 8,058,209 8,058,209 8,058,209 8,066,129 8,058,209 8,037,041 8,058,209 8,060,879 8,318,229

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,485,569.48 5,524,106.62 5,549,764.95 5,575,423.28 5,601,081.61 5,626,739.94 5,657,209.88 5,678,056.60 5,682,546.93 5,729,373.26 5,754,593.20 5,304,628.71

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,570,670 5,601,421 5,626,529 5,651,637 5,676,746 5,701,854 5,735,392 5,752,071 5,756,011 5,802,287 5,830,575 6,191,088Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,071,753 8,077,396 8,077,396 8,077,396 8,077,396 8,077,396 8,085,825 8,077,396 8,056,228 8,077,396 8,080,575 8,441,088

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -94,827.03 71,753.25 77,395.65 77,395.65 77,395.65 77,395.65 77,395.65 85,825.47 77,395.65 56,227.65 77,395.65 80,575.47 441,087.97

Total liabilit 7,905,173 8,071,753 8,077,396 8,077,396 8,077,396 8,077,396 8,077,396 8,085,825 8,077,396 8,056,228 8,077,396 8,080,575 8,441,088

Product Box Limited PartnershipsBlance Sheet

Year 5

172

If expense increase 10% Year 1

Year 2

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,598,925.26 3,693,661.51 3,713,336.20 3,738,994.53 3,764,652.86 3,790,311.19 3,815,969.52 3,845,840.67 3,867,286.18 3,892,944.51 3,918,602.84 3,942,973.99 3,443,205.61

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,656,872 3,753,530 3,767,712 3,792,820 3,817,928 3,843,037 3,868,145 3,899,938 3,918,362 3,943,470 3,968,578 3,994,871 4,048,669Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,950,764 8,022,313 8,011,387 8,011,387 8,011,387 8,011,387 8,011,387 8,018,071 8,011,387 8,011,387 8,011,387 8,012,571 8,066,369

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -49,236.19 22,313.01 11,386.81 11,386.81 11,386.81 11,386.81 11,386.81 18,070.91 11,386.81 11,386.81 11,386.81 12,570.91 66,369.21

Total liabilit 7,950,764 8,022,313 8,011,387 8,011,387 8,011,387 8,011,387 8,011,387 8,018,071 8,011,387 8,011,387 8,011,387 8,012,571 8,066,369

Product Box Limited PartnershipsBlance Sheet

Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,851,066.95 3,982,806.97 4,023,606.71 4,049,265.04 4,074,923.37 4,100,581.70 4,126,240.03 4,155,250.26 4,177,556.69 4,181,039.02 4,228,873.35 4,252,383.58 3,712,703.11

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,914,204 4,048,112 4,082,925 4,108,033 4,133,142 4,158,250 4,183,358 4,214,537 4,233,575 4,236,507 4,283,792 4,309,470 4,378,713Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,906,795 8,015,595 8,025,300 8,025,300 8,025,300 8,025,300 8,025,300 8,031,370 8,025,300 8,003,124 8,025,300 8,025,870 8,095,113

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -93,204.82 15,595.28 25,299.88 25,299.88 25,299.88 25,299.88 25,299.88 31,370.18 25,299.88 3,123.88 25,299.88 25,870.18 95,113.07

Total liabilit 7,906,795 8,015,595 8,025,300 8,025,300 8,025,300 8,025,300 8,025,300 8,031,370 8,025,300 8,003,124 8,025,300 8,025,870 8,095,113

Product Box Limited PartnershipsBlance Sheet

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,143,532.44 4,295,441.24 4,334,987.25 4,360,645.58 4,386,303.91 4,411,962.24 4,437,620.57 4,467,378.91 4,488,937.23 4,492,419.56 4,540,253.89 4,564,512.23 3,634,286.50

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,212,378 4,366,727 4,399,742 4,424,851 4,449,959 4,475,067 4,500,176 4,532,374 4,550,392 4,553,325 4,600,609 4,627,307 4,366,897Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,903,669 8,032,910 8,040,817 8,040,817 8,040,817 8,040,817 8,040,817 8,047,907 8,040,817 8,018,641 8,040,817 8,042,407 8,197,097

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -96,330.67 32,910.05 40,817.23 40,817.23 40,817.23 40,817.23 40,817.23 47,907.49 40,817.23 18,641.23 40,817.23 42,407.49 197,097.46

Total liabilit 7,903,669 8,032,910 8,040,817 8,040,817 8,040,817 8,040,817 8,040,817 8,047,907 8,040,817 8,018,641 8,040,817 8,042,407 8,197,097

Product Box Limited PartnershipsBlance Sheet

Year 3

173

Year 4

Year 5

If expense increase 15% Year 1

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,624,442.71 4,796,895.09 4,835,062.02 4,860,720.35 4,886,378.68 4,912,037.01 4,937,695.34 4,967,841.02 4,989,012.00 4,992,494.33 5,040,328.66 5,064,974.34 4,578,896.25

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,699,567 4,874,759 4,905,797 4,930,906 4,956,014 4,981,122 5,006,231 5,039,116 5,056,447 5,059,380 5,106,664 5,134,049 5,384,768Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,902,059 8,052,142 8,058,073 8,058,073 8,058,073 8,058,073 8,058,073 8,065,849 8,058,073 8,035,897 8,058,073 8,060,349 8,311,068

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -97,940.87 52,142.45 58,072.50 58,072.50 58,072.50 58,072.50 58,072.50 65,849.13 58,072.50 35,896.50 58,072.50 60,349.13 311,068.30

Total liabilit 7,902,059 8,052,142 8,058,073 8,058,073 8,058,073 8,058,073 8,058,073 8,065,849 8,058,073 8,035,897 8,058,073 8,060,349 8,311,068

Year 4

Product Box Limited PartnershipsBlance Sheet

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,484,013.65 5,523,964.68 5,549,623.01 5,575,281.34 5,600,939.67 5,626,598.00 5,656,896.77 5,677,914.66 5,681,396.99 5,729,231.32 5,754,030.09 5,296,601.48

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,569,114 5,601,279 5,626,387 5,651,495 5,676,604 5,701,712 5,735,079 5,751,929 5,754,861 5,802,145 5,830,012 6,183,061Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,070,197 8,077,254 8,077,254 8,077,254 8,077,254 8,077,254 8,085,512 8,077,254 8,055,078 8,077,254 8,080,012 8,433,061

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -103,742.65 70,197.41 77,253.71 77,253.71 77,253.71 77,253.71 77,253.71 85,512.35 77,253.71 55,077.71 77,253.71 80,012.35 433,060.74

Total liabilit 7,896,257 8,070,197 8,077,254 8,077,254 8,077,254 8,077,254 8,077,254 8,085,512 8,077,254 8,055,078 8,077,254 8,080,012 8,433,061

Product Box Limited PartnershipsBlance Sheet

Year 5

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,594,801.93 3,693,288.18 3,713,212.87 3,738,871.20 3,764,529.53 3,790,187.86 3,815,846.19 3,845,647.84 3,867,162.85 3,892,821.18 3,918,479.51 3,942,531.16 3,438,922.31

Inventory 51,897 54,368 49,426 49,426 49,426 49,426 49,426 51,897 49,426 49,426 49,426 51,897 605,464

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,652,749 3,753,156 3,767,588 3,792,697 3,817,805 3,842,913 3,868,022 3,899,745 3,918,238 3,943,347 3,968,455 3,994,428 4,044,386Fix asset Building 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000 3,750,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 4,293,892 4,268,783 4,243,675 4,218,567 4,193,458 4,168,350 4,143,242 4,118,133 4,093,025 4,067,917 4,042,808 4,017,700 4,017,700Total Asset 7,946,640 8,021,940 8,011,263 8,011,263 8,011,263 8,011,263 8,011,263 8,017,878 8,011,263 8,011,263 8,011,263 8,012,128 8,062,086

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -53,359.52 21,939.68 11,263.48 11,263.48 11,263.48 11,263.48 11,263.48 17,878.08 11,263.48 11,263.48 11,263.48 12,128.08 62,085.91

Total liabilit 7,946,640 8,021,940 8,011,263 8,011,263 8,011,263 8,011,263 8,011,263 8,017,878 8,011,263 8,011,263 8,011,263 8,012,128 8,062,086

Product Box Limited PartnershipsBlance Sheet

Year 1

174

Year 2

Year 3

Year 4

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 3,845,142.41 3,981,417.23 4,023,479.38 4,049,137.71 4,074,796.04 4,100,454.37 4,126,112.70 4,154,988.22 4,177,429.36 4,179,903.69 4,228,746.02 4,251,871.54 3,706,684.68

Inventory 57,087 59,805 54,368 54,368 54,368 54,368 54,368 57,087 54,368 54,368 54,368 57,087 666,010

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 3,908,279 4,046,722 4,082,798 4,107,906 4,133,014 4,158,123 4,183,231 4,214,275 4,233,448 4,235,372 4,283,664 4,308,958 4,372,695Fix asset Building 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200 455,200

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,992,592 3,967,483 3,942,375 3,917,267 3,892,158 3,867,050 3,841,942 3,816,833 3,791,725 3,766,617 3,741,508 3,716,400 3,716,400Total Asset 7,900,871 8,014,206 8,025,173 8,025,173 8,025,173 8,025,173 8,025,173 8,031,108 8,025,173 8,001,989 8,025,173 8,025,358 8,089,095

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -99,129.35 14,205.55 25,172.55 25,172.55 25,172.55 25,172.55 25,172.55 31,108.15 25,172.55 1,988.55 25,172.55 25,358.15 89,094.64

Total liabilit 7,900,871 8,014,206 8,025,173 8,025,173 8,025,173 8,025,173 8,025,173 8,031,108 8,025,173 8,001,989 8,025,173 8,025,358 8,089,095

Product Box Limited PartnershipsBlance Sheet

Year 2

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,136,715.00 4,294,046.67 4,334,855.51 4,360,513.84 4,386,172.17 4,411,830.50 4,437,488.83 4,467,117.75 4,488,805.49 4,491,279.82 4,540,122.15 4,564,001.07 3,627,714.03

Inventory 62,795 65,785 59,805 59,805 59,805 59,805 59,805 62,795 59,805 59,805 59,805 62,795 732,611

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,205,560 4,365,332 4,399,610 4,424,719 4,449,827 4,474,935 4,500,044 4,532,113 4,550,260 4,552,185 4,600,477 4,626,796 4,360,325Fix asset Building 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,375,000 3,562,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 341,400 569,000

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,691,292 3,666,183 3,641,075 3,615,967 3,590,858 3,565,750 3,540,642 3,515,533 3,490,425 3,465,317 3,440,208 3,415,100 3,830,200Total Asset 7,896,852 8,031,515 8,040,685 8,040,685 8,040,685 8,040,685 8,040,685 8,047,646 8,040,685 8,017,501 8,040,685 8,041,896 8,190,525

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -103,148.10 31,515.48 40,685.50 40,685.50 40,685.50 40,685.50 40,685.50 47,646.34 40,685.50 17,501.50 40,685.50 41,896.34 190,524.98

Total liabilit 7,896,852 8,031,515 8,040,685 8,040,685 8,040,685 8,040,685 8,040,685 8,047,646 8,040,685 8,017,501 8,040,685 8,041,896 8,190,525

Product Box Limited PartnershipsBlance Sheet

Year 3

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 4,616,717.71 4,795,495.18 4,834,925.44 4,860,583.77 4,886,242.10 4,911,900.43 4,937,558.76 4,967,561.02 4,988,875.42 4,991,349.75 5,040,192.08 5,064,444.34 4,571,735.08

Inventory 69,075 72,364 65,785 65,785 65,785 65,785 65,785 69,075 65,785 65,785 65,785 69,075 805,872

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 4,691,842 4,873,359 4,905,661 4,930,769 4,955,878 4,980,986 5,006,094 5,038,836 5,056,311 5,058,235 5,106,528 5,133,519 5,377,607Fix asset Building 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600 227,600

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 3,202,492 3,177,383 3,152,275 3,127,167 3,102,058 3,076,950 3,051,842 3,026,733 3,001,625 2,976,517 2,951,408 2,926,300 2,926,300Total Asset 7,894,334 8,050,743 8,057,936 8,057,936 8,057,936 8,057,936 8,057,936 8,065,569 8,057,936 8,034,752 8,057,936 8,059,819 8,303,907

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -105,665.87 50,742.54 57,935.92 57,935.92 57,935.92 57,935.92 57,935.92 65,569.13 57,935.92 34,751.92 57,935.92 59,819.13 303,907.14

Total liabilit 7,894,334 8,050,743 8,057,936 8,057,936 8,057,936 8,057,936 8,057,936 8,065,569 8,057,936 8,034,752 8,057,936 8,059,819 8,303,907

Year 4

Product Box Limited PartnershipsBlance Sheet

175

Year5

Financial Risk

Sale Risk : From sale decrease in 5%,10% and 15%, it effect to net income decrease and the cost of inventory increase that cash will decrease from normal rate. So, cash of company spend more in inventory. This risk can reduce by decrease amount of inventory that make cash of company increasing. Moreover, the company provide promotion to increase sale (In chapter 4) Cost of Goods Sold Risk : From the cost of goods sold increase in 5%,10% and 15%. It is the big problem that effect to net income, it make profit loss of company. In balance sheet, retain earning reduce more in normal rate. So, it cannot solve this problem by internal, but we need to change the supplier for reduce this cost that make our company still run the business. Moreover, it has many paper company, so we can choose other supplier who has low price of product. Administrative Cost Risk : From the administrative cost increase in 5%,10% and 15%. It effect to our company ..... So, the company provide the policy to reduce expense as the customer have to turn off the light in one hour per day and they have to turn off the light when leave the office. The other way is motivate the employees to increase their performance to make sale increase.

Selling Expense Risk : From the selling expense increase in 5%,10% and 15%. ....... To reduce selling expense risk; we order the material that use for promotion in the beginning of first years because we will get low price from the supplier, so we can reduce selling expense.

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TotalCurrent AssCash 5,305,865 5,482,457.82 5,523,822.75 5,549,481.08 5,575,139.41 5,600,797.74 5,626,456.07 5,656,583.66 5,677,772.73 5,680,247.06 5,729,089.39 5,753,466.98 5,288,574.25

Inventory 75,982 79,600 72,364 72,364 72,364 72,364 72,364 75,982 72,364 72,364 72,364 75,982 886,459

Depreciation 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 4,150 49,800

Prepaid car in 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600 6600

Less: Acumu 550 1,100 1,650 2,200 2,750 3,300 3,850 4,400 4,950 5,500 6,050 6,600 6600

Total cerr 5,387,897 5,567,558 5,601,137 5,626,245 5,651,353 5,676,462 5,701,570 5,734,766 5,751,787 5,753,711 5,802,003 5,829,449 6,175,034Fix asset Building 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500 2,437,500

Less: Acumu 15,625 31,250 46,875 62,500 78,125 93,750 109,375 125,000 140,625 156,250 171,875 187,500 187,500

Vehircles 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800 113,800

Less: Acumu 9,483 18,967 28,450 37,933 47,417 56,900 66,383 75,867 85,350 94,833 104,317 113,800 113,800

Total Fix ass 2,526,192 2,501,083 2,475,975 2,450,867 2,425,758 2,400,650 2,375,542 2,350,433 2,325,325 2,300,217 2,275,108 2,250,000 2,250,000Total Asset 7,914,089 8,068,642 8,077,112 8,077,112 8,077,112 8,077,112 8,077,112 8,085,199 8,077,112 8,053,928 8,077,112 8,079,449 8,425,034

LiabilityCurrent liability

Owner's equity Investor 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000

Retain ea -112,658.26 68,641.58 77,111.78 77,111.78 77,111.78 77,111.78 77,111.78 85,199.24 77,111.78 53,927.78 77,111.78 79,449.24 425,033.51

Total liabilit 7,887,342 8,068,642 8,077,112 8,077,112 8,077,112 8,077,112 8,077,112 8,085,199 8,077,112 8,053,928 8,077,112 8,079,449 8,425,034

Product Box Limited PartnershipsBlance Sheet

Year 5

176

Chapter 9: Summary

Product box limited partnership is the company to sale box and die-cut box that suitable for shipment. Since, paper packaging industrial tends to grow up, due to global warming campaign. Paper box packaging can biodegradable and recycle, so it is not effect to the environment that make it popular more than other packaging.

Nowadays internet as a part of the daily lives of more people, so to communicate and do the business through the internet is interesting. Product box limited partnership study a trends to be in business and our company has decided to open an online business via e-commerce system. Product box limited partnership provides service orders the products through the Product box limited partnership’s website. Product box limited partnership is a retailer to sale paper box that be the products of our company, paper box has many size for customer choose to use as appropriate with every things to be packaged. The target of the limited partnership is online sellers that sell the products (such as clothing, cosmetics, jewelry, shoes and etc.) via the internet, which the target is growing steadily and demand of box for shipment is increasing every day.

Competitors of the limited partnership is online shop that sell boxes for shipment same the limited partnership and sales products via e-commerce system. But the highlight of the limited partnership stronger than competitors is promotion used to attract customers, allowing customers to buy the limited partnership’s products.

Sales forecasts of the limited partnership predictions by using data obtained the inquiries directly from online customers that use paper box to shipment. The limited partnership expects the company able to increase sales up to 10% per year and each month that has the promotion to promoting sale, promotion will encourage the limited partnership can generated additional sales to about 5% - 10% per month of the promotion. Main promotion of the limited partnership is January’s promotion will be provide shirt with a greeting card to customers, February’s promotion; in valentine’s day will be provide cartoon adhesive tape and in Chinese new year’s day will have enjoy activity awards for customers that have order as required of the limited partnership, the last is promotion for mother’s day and father’s day.

The limited partnership invested approximately eight million baht to using in the implementation of the limited partnership of various parts such as building, equipment, car, administrative cost, inventory and etc. Net income of the limited partnership will be providing 30% dividend to investor per year every year.

The limited partnership is experiencing problems about risks of the limited partnership, but the limited partnership can solve the problem. Such as

177

Social risk; the limited partnership is a new company and less of reliable for customers, so the limited partnership has registered in Department Of Business Development, The Ministry of commerce of Thailand for reduce this risk.

Technology risks; the limited partnership is online seller that use the internet to attract customers, so the limited partnership have risk about the customers will find the limited partnership to come across. This problem the limited partnership can solve by webmaster’s the limited partnership because webmaster can promote our website to many social network such as facebook, weloveshopping, google and etc. Moreover our website is easy to use for customers.

Financial risk; in case of the limited partnership confront a problem about sale decrease in 5%, 10% and 15% or cost of goods sold, administrative cost, selling expense increase in 5%, 10% and 15%. The way to reduce risk is in case of sale decrease can edited by decrease amount of inventory and provides the promotion to increase sale. And other problems can solving by choose supplier who has low price of product, motivate the employees to make sale increase, and order the material that use for promotion in the beginning of first years.

Finally, the limited partnership is located in a suitable and convenient location to distribution the products because service charge shipping costs to customer is valued that similar both to the North and the South. The located of the limited partnership is Bangphli district, Samut Prakan Province which is surrounded by many company, industry, and also nearby supplyer. So, located’s the limited partnership makes easy to buy and sell goods to customers.

178

Appendix Chapter 2

The process of produce corrugated box

Begin to bring the corrugated paper forming corrugated medium and let skin of box to patch at the front and back of box until get corrugated paper three or five layer, depend on strength of box. If corrugated paper is more thicker, it can reduce damage of the product inside the box. After that module over welded and cut paper equal the box. Next printer Flex Seoul color on box and grooving box for 4 cover, if it is a die cut do not need to grooving at machine but will pump by plate one by one to get special model. Finally, articulate box by two method to use patch glue at tongue of box and sew it by copper wire or silver wire for make the box stick together. Then fold box in flat for comfortable to transport by customer can forming and packaging in easy way.

179

Chapter 3 Promotion : Brochure

180

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 20727 21714 19740 19740 19740 19740 19740 20727 19740 19740 19740 20727 241815A 5.7 33516 35112 31920 31920 31920 31920 31920 33516 31920 31920 31920 33516 391020B 7.7 45276 47432 43120 43120 43120 43120 43120 45276 43120 43120 43120 45276 528220C 10.7 62916 65912 59920 59920 59920 59920 59920 62916 59920 59920 59920 62916 734020D 14.7 43218 45276 41160 41160 41160 41160 41160 43218 41160 41160 41160 43218 504210E 19.7 57918 60676 55160 55160 55160 55160 55160 57918 55160 55160 55160 57918 675710F 22.7 33369 34958 31780 31780 31780 31780 31780 33369 31780 31780 31780 33369 389305

No.1 4.3 56889 59598 54180 54180 54180 54180 54180 56889 54180 54180 54180 56889 663705No.2 5.7 62843 65835 59850 59850 59850 59850 59850 62843 59850 59850 59850 62843 733163No.3 7.7 67914 71148 64680 64680 64680 64680 64680 67914 64680 64680 64680 67914 792330No.4 10.7 47187 49434 44940 44940 44940 44940 44940 47187 44940 44940 44940 47187 550515No.5 12.7 56007 58674 53340 53340 53340 53340 53340 56007 53340 53340 53340 56007 653415No.6 17.7 39029 40887 37170 37170 37170 37170 37170 39029 37170 37170 37170 39029 455333Total 144.7 626808 656656 596960 596960 596960 596960 596960 626808 596960 596960 596960 626808 7312760

Type of Ready-Made Carton

Normal Carton

Inventory Cost

Year 1

Inventory

Year 1

Year 1 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Inventory 73500 77000 70000 70000 70000 70000 70000 73500 70000 70000 70000 73500 857500

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 4410 4620 4200 4200 4200 4200 4200 4410 4200 4200 4200 4410 51450A 5.7 5880 6160 5600 5600 5600 5600 5600 5880 5600 5600 5600 5880 68600B 7.7 5880 6160 5600 5600 5600 5600 5600 5880 5600 5600 5600 5880 68600C 10.7 5880 6160 5600 5600 5600 5600 5600 5880 5600 5600 5600 5880 68600D 14.7 2940 3080 2800 2800 2800 2800 2800 2940 2800 2800 2800 2940 34300E 19.7 2940 3080 2800 2800 2800 2800 2800 2940 2800 2800 2800 2940 34300F 22.7 1470 1540 1400 1400 1400 1400 1400 1470 1400 1400 1400 1470 17150

No.1 4.3 13230 13860 12600 12600 12600 12600 12600 13230 12600 12600 12600 13230 154350No.2 5.7 11025 11550 10500 10500 10500 10500 10500 11025 10500 10500 10500 11025 128625No.3 7.7 8820 9240 8400 8400 8400 8400 8400 8820 8400 8400 8400 8820 102900No.4 10.7 4410 4620 4200 4200 4200 4200 4200 4410 4200 4200 4200 4410 51450No.5 12.7 4410 4620 4200 4200 4200 4200 4200 4410 4200 4200 4200 4410 51450No.6 17.7 2205 2310 2100 2100 2100 2100 2100 2205 2100 2100 2100 2205 25725Total 144.7 73500 77000 70000 70000 70000 70000 70000 73500 70000 70000 70000 73500 857500

Year 1

Inventory

Type of Ready-Made Carton

Normal Carton

181

Year 2

Year 2 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Inventory 80850 84700 77000 77000 77000 77000 77000 80850 77000 77000 77000 80850 943250

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 4851 5082 4620 4620 4620 4620 4620 4851 4620 4620 4620 4851 56595A 5.7 6468 6776 6160 6160 6160 6160 6160 6468 6160 6160 6160 6468 75460B 7.7 6468 6776 6160 6160 6160 6160 6160 6468 6160 6160 6160 6468 75460C 10.7 6468 6776 6160 6160 6160 6160 6160 6468 6160 6160 6160 6468 75460D 14.7 3234 3388 3080 3080 3080 3080 3080 3234 3080 3080 3080 3234 37730E 19.7 3234 3388 3080 3080 3080 3080 3080 3234 3080 3080 3080 3234 37730F 22.7 1617 1694 1540 1540 1540 1540 1540 1617 1540 1540 1540 1617 18865

No.1 4.3 14553 15246 13860 13860 13860 13860 13860 14553 13860 13860 13860 14553 169785No.2 5.7 12128 12705 11550 11550 11550 11550 11550 12128 11550 11550 11550 12128 141488No.3 7.7 9702 10164 9240 9240 9240 9240 9240 9702 9240 9240 9240 9702 113190No.4 10.7 4851 5082 4620 4620 4620 4620 4620 4851 4620 4620 4620 4851 56595No.5 12.7 4851 5082 4620 4620 4620 4620 4620 4851 4620 4620 4620 4851 56595No.6 17.7 2426 2541 2310 2310 2310 2310 2310 2426 2310 2310 2310 2426 28298Total 144.7 80850 84700 77000 77000 77000 77000 77000 80850 77000 77000 77000 80850 943250

Year 2

Inventory

Type of Ready-Made Carton

Normal Carton

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 22800 23885 21714 21714 21714 21714 21714 22800 21714 21714 21714 22800 265997A 5.7 36868 38623 35112 35112 35112 35112 35112 36868 35112 35112 35112 36868 430122B 7.7 49804 52175 47432 47432 47432 47432 47432 49804 47432 47432 47432 49804 581042C 10.7 69208 72503 65912 65912 65912 65912 65912 69208 65912 65912 65912 69208 807422D 14.7 47540 49804 45276 45276 45276 45276 45276 47540 45276 45276 45276 47540 554631E 19.7 63710 66744 60676 60676 60676 60676 60676 63710 60676 60676 60676 63710 743281F 22.7 36706 38454 34958 34958 34958 34958 34958 36706 34958 34958 34958 36706 428236

No.1 4.3 62578 65558 59598 59598 59598 59598 59598 62578 59598 59598 59598 62578 730076No.2 5.7 69127 72419 65835 65835 65835 65835 65835 69127 65835 65835 65835 69127 806479No.3 7.7 74705 78263 71148 71148 71148 71148 71148 74705 71148 71148 71148 74705 871563No.4 10.7 51906 54377 49434 49434 49434 49434 49434 51906 49434 49434 49434 51906 605567No.5 12.7 61608 64541 58674 58674 58674 58674 58674 61608 58674 58674 58674 61608 718757No.6 17.7 42931 44976 40887 40887 40887 40887 40887 42931 40887 40887 40887 42931 500866Total 144.7 689489 722322 656656 656656 656656 656656 656656 689489 656656 656656 656656 689489 8044036

Type of Ready-Made Carton

Normal Carton

Year 2

Inventory Cost

182

Year 3

Year 3 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Inventory 88935 93170 84700 84700 84700 84700 84700 88935 84700 84700 84700 88935 1037575

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 5336 5590 5082 5082 5082 5082 5082 5336 5082 5082 5082 5336 62255A 5.7 7115 7454 6776 6776 6776 6776 6776 7115 6776 6776 6776 7115 83006B 7.7 7115 7454 6776 6776 6776 6776 6776 7115 6776 6776 6776 7115 83006C 10.7 7115 7454 6776 6776 6776 6776 6776 7115 6776 6776 6776 7115 83006D 14.7 3557 3727 3388 3388 3388 3388 3388 3557 3388 3388 3388 3557 41503E 19.7 3557 3727 3388 3388 3388 3388 3388 3557 3388 3388 3388 3557 41503F 22.7 1779 1863 1694 1694 1694 1694 1694 1779 1694 1694 1694 1779 20752

No.1 4.3 16008 16771 15246 15246 15246 15246 15246 16008 15246 15246 15246 16008 186764No.2 5.7 13340 13976 12705 12705 12705 12705 12705 13340 12705 12705 12705 13340 155636No.3 7.7 10672 11180 10164 10164 10164 10164 10164 10672 10164 10164 10164 10672 124509No.4 10.7 5336 5590 5082 5082 5082 5082 5082 5336 5082 5082 5082 5336 62255No.5 12.7 5336 5590 5082 5082 5082 5082 5082 5336 5082 5082 5082 5336 62255No.6 17.7 2668 2795 2541 2541 2541 2541 2541 2668 2541 2541 2541 2668 31127Total 144.7 88935 93170 84700 84700 84700 84700 84700 88935 84700 84700 84700 88935 1037575

Year 3

Inventory

Type of Ready-Made Carton

Normal Carton

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 25080 26274 23885 23885 23885 23885 23885 25080 23885 23885 23885 25080 292596A 5.7 40554 42486 38623 38623 38623 38623 38623 40554 38623 38623 38623 40554 473134B 7.7 54784 57393 52175 52175 52175 52175 52175 54784 52175 52175 52175 54784 639146C 10.7 76128 79754 72503 72503 72503 72503 72503 76128 72503 72503 72503 76128 888164D 14.7 52294 54784 49804 49804 49804 49804 49804 52294 49804 49804 49804 52294 610094E 19.7 70081 73418 66744 66744 66744 66744 66744 70081 66744 66744 66744 70081 817609F 22.7 40376 42299 38454 38454 38454 38454 38454 40376 38454 38454 38454 40376 471059

No.1 4.3 68836 72114 65558 65558 65558 65558 65558 68836 65558 65558 65558 68836 803083No.2 5.7 76039 79660 72419 72419 72419 72419 72419 76039 72419 72419 72419 76039 887127No.3 7.7 82176 86089 78263 78263 78263 78263 78263 82176 78263 78263 78263 82176 958719No.4 10.7 57096 59815 54377 54377 54377 54377 54377 57096 54377 54377 54377 57096 666123No.5 12.7 67768 70996 64541 64541 64541 64541 64541 67768 64541 64541 64541 67768 790632No.6 17.7 47224 49473 44976 44976 44976 44976 44976 47224 44976 44976 44976 47224 550952Total 144.7 758438 794554 722322 722322 722322 722322 722322 758438 722322 722322 722322 758438 8848440

Type of Ready-Made Carton

Year 3

Inventory Cost

Normal Carton

183

Year 4

Year 4 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Inventory 97828.5 102487 93170 93170 93170 93170 93170 97828.5 93170 93170 93170 97828.5 1141333

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 5870 6149 5590 5590 5590 5590 5590 5870 5590 5590 5590 5870 68480A 5.7 7826 8199 7454 7454 7454 7454 7454 7826 7454 7454 7454 7826 91307B 7.7 7826 8199 7454 7454 7454 7454 7454 7826 7454 7454 7454 7826 91307C 10.7 7826 8199 7454 7454 7454 7454 7454 7826 7454 7454 7454 7826 91307D 14.7 3913 4099 3727 3727 3727 3727 3727 3913 3727 3727 3727 3913 45653E 19.7 3913 4099 3727 3727 3727 3727 3727 3913 3727 3727 3727 3913 45653F 22.7 1957 2050 1863 1863 1863 1863 1863 1957 1863 1863 1863 1957 22827

No.1 4.3 17609 18448 16771 16771 16771 16771 16771 17609 16771 16771 16771 17609 205440No.2 5.7 14674 15373 13976 13976 13976 13976 13976 14674 13976 13976 13976 14674 171200No.3 7.7 11739 12298 11180 11180 11180 11180 11180 11739 11180 11180 11180 11739 136960No.4 10.7 5870 6149 5590 5590 5590 5590 5590 5870 5590 5590 5590 5870 68480No.5 12.7 5870 6149 5590 5590 5590 5590 5590 5870 5590 5590 5590 5870 68480No.6 17.7 2935 3075 2795 2795 2795 2795 2795 2935 2795 2795 2795 2935 34240Total 144.7 97829 102487 93170 93170 93170 93170 93170 97829 93170 93170 93170 97829 1141333

Type of Ready-Made Carton

Normal Carton

Year 4

Inventory

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 27588 28901 26274 26274 26274 26274 26274 27588 26274 26274 26274 27588 321856A 5.7 44610 46734 42486 42486 42486 42486 42486 44610 42486 42486 42486 44610 520448B 7.7 60262 63132 57393 57393 57393 57393 57393 60262 57393 57393 57393 60262 703061C 10.7 83741 87729 79754 79754 79754 79754 79754 83741 79754 79754 79754 83741 976981D 14.7 57523 60262 54784 54784 54784 54784 54784 57523 54784 54784 54784 57523 671104E 19.7 77089 80760 73418 73418 73418 73418 73418 77089 73418 73418 73418 77089 899370F 22.7 44414 46529 42299 42299 42299 42299 42299 44414 42299 42299 42299 44414 518165

No.1 4.3 75719 79325 72114 72114 72114 72114 72114 75719 72114 72114 72114 75719 883391No.2 5.7 83643 87626 79660 79660 79660 79660 79660 83643 79660 79660 79660 83643 975839No.3 7.7 90394 94698 86089 86089 86089 86089 86089 90394 86089 86089 86089 90394 1054591No.4 10.7 62806 65797 59815 59815 59815 59815 59815 62806 59815 59815 59815 62806 732735No.5 12.7 74545 78095 70996 70996 70996 70996 70996 74545 70996 70996 70996 74545 869695No.6 17.7 51947 54421 49473 49473 49473 49473 49473 51947 49473 49473 49473 51947 606048Total 144.7 834281 874009 794554 794554 794554 794554 794554 834281 794554 794554 794554 834281 9733284

Year 4

Inventory Cost

Type of Ready-Made Carton

Normal Carton

184

Year 5

Year 5 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Inventory 107611.4 112735.7 102487 102487 102487 102487 102487 107611.4 102487 102487 102487 107611.4 1255466

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 6457 6764 6149 6149 6149 6149 6149 6457 6149 6149 6149 6457 75328A 5.7 8609 9019 8199 8199 8199 8199 8199 8609 8199 8199 8199 8609 100437B 7.7 8609 9019 8199 8199 8199 8199 8199 8609 8199 8199 8199 8609 100437C 10.7 8609 9019 8199 8199 8199 8199 8199 8609 8199 8199 8199 8609 100437D 14.7 4304 4509 4099 4099 4099 4099 4099 4304 4099 4099 4099 4304 50219E 19.7 4304 4509 4099 4099 4099 4099 4099 4304 4099 4099 4099 4304 50219F 22.7 2152 2255 2050 2050 2050 2050 2050 2152 2050 2050 2050 2152 25109

No.1 4.3 19370 20292 18448 18448 18448 18448 18448 19370 18448 18448 18448 19370 225984No.2 5.7 16142 16910 15373 15373 15373 15373 15373 16142 15373 15373 15373 16142 188320No.3 7.7 12913 13528 12298 12298 12298 12298 12298 12913 12298 12298 12298 12913 150656No.4 10.7 6457 6764 6149 6149 6149 6149 6149 6457 6149 6149 6149 6457 75328No.5 12.7 6457 6764 6149 6149 6149 6149 6149 6457 6149 6149 6149 6457 75328No.6 17.7 3228 3382 3075 3075 3075 3075 3075 3228 3075 3075 3075 3228 37664Total 144.7 107611 112736 102487 102487 102487 102487 102487 107611 102487 102487 102487 107611 1255466

Type of Ready-Made Carton

Year 5

Inventory

Normal Carton

Product Price JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

O 4.7 30346 31791 28901 28901 28901 28901 28901 30346 28901 28901 28901 30346 354041A 5.7 49071 51407 46734 46734 46734 46734 46734 49071 46734 46734 46734 49071 572492B 7.7 66289 69445 63132 63132 63132 63132 63132 66289 63132 63132 63132 66289 773367C 10.7 92115 96502 87729 87729 87729 87729 87729 92115 87729 87729 87729 92115 1074679D 14.7 63275 66289 60262 60262 60262 60262 60262 63275 60262 60262 60262 63275 738214E 19.7 84798 88836 80760 80760 80760 80760 80760 84798 80760 80760 80760 84798 989307F 22.7 48856 51182 46529 46529 46529 46529 46529 48856 46529 46529 46529 48856 569981

No.1 4.3 83291 87257 79325 79325 79325 79325 79325 83291 79325 79325 79325 83291 971730No.2 5.7 92008 96389 87626 87626 87626 87626 87626 92008 87626 87626 87626 92008 1073423No.3 7.7 99433 104168 94698 94698 94698 94698 94698 99433 94698 94698 94698 99433 1160050No.4 10.7 69086 72376 65797 65797 65797 65797 65797 69086 65797 65797 65797 69086 806009No.5 12.7 82000 85905 78095 78095 78095 78095 78095 82000 78095 78095 78095 82000 956665No.6 17.7 57142 59863 54421 54421 54421 54421 54421 57142 54421 54421 54421 57142 666652Total 144.7 917710 961410 874009 874009 874009 874009 874009 917710 874009 874009 874009 917710 10706612

Type of Ready-Made Carton

Normal Carton

Year 5

Inventory Cost

185

Chapter 4 Price comparison table(TH Baht)

Chapter 6

สทธและหนาทของของลกจางและนายจาง ตาม พรบ.คมครองแรงงานฉบบใหม พ.ศ. 2541

เวลาทางาน

• ไมเกน 8 ชวโมงตอวน และ 48 ชวโมงตอสปดาห • งานอนตรายตามทกาหนดในกฎกระทรวงไมเกน 7 ชวโมงตอวน และ 42 ชวโมงตอสปดาห

เวลาพก

• ในวนทมการทางาน ใหนายจางจดใหลกจางมเวลาพกตดตอกนไมนอยกวา วนละ 1 ชวโมง ภายใน 5 ชวโมงแรกของการทางาน

• นายจางและลกจางจะตกลงกนลวงหนาใหมเวลาพกนอยกวาครงละ 1 ชวโมง กไดแตตองไมนอยกวาครงละ 20 นาทและเมอรวมกนแลวตองไมนอยกวา วนละ 1 ชวโมง

• กรณงานในหนาทมลกษณะตองทาตดตอกนไป หรอเปนงานฉกเฉนโดยจะหยด เสยมได นายจางจะไมจดเวลาพกใหลกจางกได แตตองไดรบความยนยอม จากลกจาง

วนหยด วนหยดประจาสปดาห

• ตองไมนอยกวาสปดาหละ 1 วน โดยมระยะหางกนไมเกน 6 วน

Name of companySize of Normal Carton

14 x 20 x 6 cm. 4.6 3.6 3.6 3.7 4 5.317 x 25 x 9 cm. 5.8 4.6 4.4 4.4 4.8 7.420 x 30 x 11 cm. 7.5 5.6 5.7 5.7 6.2 9.422 x 35 x 14 cm. 9.5 7.1 7.2 7.2 7.9 12.324 x 40 x 17 cm. 11.5 8.6 8.7 8.7 9.5 14.530 x 45 x 20 cm. 18 14 14 15 16.2 22.9

ScpaperboxM Shop Thai Box XN paperbox DPS-psot box NPC Box Scpaperpack

Name of companySize of Ready-Made Car11 x 17 x 6 cm. 5.5 3.9 4.2 - 4.5 5.3 -14 x 20 x 6 cm. 6.7 4.6 5.2 4 5.3 6.5 917 x 25 x 9 cm. 8.9 6.2 7.2 6 7.2 9 1220 x 30 x 11 cm. 11.9 9 10.2 9 10.3 12.9 1622 x 35 x 14 cm. 16.5 12.5 14.2 12 14.2 17.7 2024 x 40 x 17 cm. 21 16.9 - 17 19.3 23.8 2530 x 45 x 20 cm. - 20 - 24 - - 32

Thai PostM Shop Thai Box XN paperbox DPS-psot box NPC Box Scpaperpack Scpaperbox

186

• ลกจางมสทธไดรบคาจางในวนหยดประจาสปดาห (ยกเวนลกจางรายวน รายชวโมง หรอตามผลงานโดยคานวณเปนหนวย)

• นายจางและลกจางจะตกลงกนลวงหนา กาหนดใหมวนหยดประจาสปดาห วนใดกได

• งานโรงแรม งานขนสง งานในปา งานในททรกนดาร (งานประมง งานดบเพลง) งานอนตามทกฎกระทรวงฯ กาหนด นายจางและลกจาง จะตกลงกนลวงหนา สะสมและเลอนวนหยดประจาสปดาหไปเมอไดกได แตตองอยในระยะเวลา ไมเกน 4 สปดาหตดตอกน

• กรณวนหยดประจาสปดาหไมแนนอน ใหนายจางประกาศวนหยด ใหลกจางทราบลวงหนาไมนอยกวา 3 วนและแจงเปนหนงสอใหพนกงาน ตรวจแรงงานทราบภายใน 7 วน นบแตวนทประกาศกาหนด

วนหยดตามประเพณ

• ตองไมนอยกวาปละ 13 วน โดยรวมวนแรงงานแหงชาตดวย ถาวนหยด ตามประเพณตรงกบวนหยดประจาสปดาห ให

หยดชดเชยในวนทางานถดไป • ลกจางมสทธไดรบคาจางในวนหยดตามประเพณ

วนหยดพกผอนประจาป

• ลกจางซงทางานตดตอกนมาครบ 1 ป มสทธหยดพกผอนประจาปไมนอยกวา ปละ 6 วนทางาน

• ลกจางมสทธไดรบคาจางในวนหยดพกผอนประจาป • ถาลกจางททางานยงไมครบ 1 ป จะใหหยดตามสวนกได • ใหนายจางเปนผกาหนดวนหยดพกผอนประจาปใหลกจางทราบลวงหนา

หรอกาหนดตามทตกลงกน • นายจางและลกจางจะตกลงกนลวงหนาสะสมและเลอนวนหยดพกผอนประจาป

ไปรวมหยดในปอนกได

การลาปวย

• ลกจางมสทธลาปวยโดยไดรบคาจางตามปกตปหนงไมเกน 30 วนทางาน

การลาคลอด

• ลกจางซงเปนหญงมครรภมสทธลาคลอดกอนและหลงคลอดครรภหนงไมเกน 90 วน โดยใหนบรวมวนหยดทมระหวาง

วนลาดวย และใหนายจางจายคาจาง แกลกจาง ซงลาคลอดเทากบคาจางในวนทางานตลอดระยะเวลาทลา แตไมเกน 45 วน

187

การลาเพอทาหมน

• ลกจางมสทธลาเพอทาหมนไดและมสทธลาเนองจากการทาหมนตามระยะ เวลาทแพทยแผนปจจบนชนหนงกาหนดและ

ออกใบรบรองให โดยลกจาง มสทธไดรบคาจางในวนลานนดวย

การลากจ

• ลกจางมสทธลาเพอกจธระอนจาเปนไดตามขอบงคบเกยวกบการทางาน โดยไมไดรบคาจางในวนลา

การลาเพอรบราชการทหาร

• ลกจางมสทธลาเพอรบราชการทหารในการเรยกพลเพอตรวจสอบ เพอฝก วชาทหาร หรอเพอทดสอบความพรงพรอม

โดยลาไดเทากบจานานวนททาง การทหารเรยก และไดรบคาจางตลอดเวลาทลาแตไมเกน 60 วนตอป

การลาเพอฝกอบรม

• ลกจางมสทธลาเพอการฝกอบรมหรอพฒนาความรความสามารถตามหลกเกณฑ และวธการทกาหนดในกฎกระทรวงโดยไมไดรบคาจางในวนลานน

Chapter 8:Political Risk 8 ภารกจรอ "เพง" จดการ LPG/NGV ดาหนาขนราคาป 2556 updated: 31 ธ.ค. 2555 เวลา 15:07:04 น. ประชาชาตธรกจออนไลน แม เพงเขามารบตาแหนงไดเพยง 2 เดอนเศษ แต พงษศกด รกตพงศไพศาล รฐมนตรวาการกระทรวงพลงงานคนท 3 ในรฐบาล นางสาวยง

ลกษณ ชนวตร กมภาระงานทตองเรงสะสางหลงเปดศกราชใหมป 2556 อยอกเพยบ โดย นโยบายเรงดวนทตองเรงสะสางมอยดวยกน 8 เรองสาคญ ไดแกเรองแรก การปรบขนราคากาซปโตรเลยมเหลว หรอแอลพจ ใหสะทอน

ตอราคาตนทนทแทจรง โดยหลงสนสดมาตรการตรงราคา กระทรวงพลงงานตงเปาปรบราคาภาคขนสงและภาคครวเรอนใหเทากนท 24.82 บาทตอกโลกรม จากปจจบนราคาภาคครวเรอนอยท 18.13 บาทตอกโลกรม และราคาภาคขนสงอยท 21.38 บาทตอกโลกรม โดยภาค

ครวเรอนจะปรบเพมอกประมาณ 6 บาทตอกโลกรม ทยอยปรบเพมเดอนละ 50 สตางค สวนภาคขนสงจะปรบขนอกประมาณ 3 บาทตอ

กโลกรม รฐมนตรวาการกระทรวงพลงงานยนยนวา การปรบขนราคาจะไมกระทบตอกลมผมรายไดนอยเดดขาด โดยไดใหความชวยเหลอในสวนภาค

ครวเรอนแกกลมผใชไฟไมเกน 90 หนวยตอเดอน จานวน 8.3 ลานครวเรอน รวมครวเรอนทไมมไฟใช รบความชวยเหลอในการอดหนน

ราคากาซหงตมครวเรอนละ 6 กโลกรมตอเดอน สวนจะใชเงนเปนจานวนเทาไรยงตองรอขอสรปอกครง แตคาดวาจะไมตากวา 900 ลาน

บาท ซงจะทาใหภาคครวเรอนผมรายไดนอยยงจายคากาซหงตมเทาเดม สวน รานหาบเรแผงลอย ซงไดรบการอดหนน 150 กโลกรมตอราน กระทรวงพลงงานไดรบอนมตจากคณะกรรมการบรหารนโยบาย

พลงงาน (กบง.) ใหวงเงน 50 ลานบาทจากกองทนนามนเชอเพลง ในการจางผเชยวชาญจดทาฐานขอมลรานคาหาบเร แผงลอยอาหารทว

ประเทศ คาดวาจะใชเวลาประมาณ 2 เดอนจงทาขอมลแลวเสรจ จงจะออกบตรเครดตพลงงานใหกอนดาเนนการปรบขนราคา เบองตนคาดวา

188

มผประกอบการประมาณ 5 แสนรายทตกสารวจ นอกเหนอจากรานคาในโครงการอาหารสะอาดของกระทรวงสาธารณสข รวมถง แตงตงคณะอนกรรมการบรรเทาผลกระทบจากการปรบราคากาซปโตรเลยมเหลว (แอลพจ) ภาคครวเรอน มปลดกระทรวงพลงงาน

เปนประธานอนกรรมการ เพอกาหนดแนวทางบรรเทาผลกระทบ หลกเกณฑ และคณสมบตผไดรบผลกระทบจากการปรบราคากาซแอลพจ

ภาคครวเรอน 2.ปรบ ขนราคากาซธรรมชาต หรอเอนจวสาหรบยานยนต โดยรายงานจากสานกนโยบายและแผนพลงงาน (สนพ.) ระบราคาปรบขนท 13.28 บาทตอกโลกรม รวมภาษมลคาเพม จากปจจบนราคาจาหนายอยท 10.50 บาทตอกโลกรม อยางไรกตาม กระทรวงพลงงานตงเงอนไขการปรบขนราคาเอนจวตามขอเสนอของกลมรถ โดยสารสาธารณะ รถแทกซ ทตองการใหบรษท ปตท.จากด (มหาชน) จดตงสถานบรการกาซเอนจวใหครอบคลมอยางนอยจงหวดละ 1 สถาน โดยสงการให ปตท.จดทาแผนลงทนขยาย

สถานบรการกาซเอนจว ซงแผนน ปตท.จะลงทนเองหรอใหเอกชนมารวมลงทนได หาก ปตท.มแผนขยายสถานอยางจรงจงแลวจะดาเนนการ

ปรบราคาจาหนายตอไป อยางไรกตาม หากไมมแผนดงกลาว ปตท.จะตองแบกรบภาระการขาดทนจานวน 2 หมนลานบาทตอป 3.แผนสารองนามนทางยทธศาสตร 90 วน ซงความเปนไปไดของโครงการยงอยหางไกลพอสมควร จากเดมทไดสงการใหภาคเอกชนเพม

การสารองนามนจาก 5% เปน 6% แตสวนใหญยงตดปญหาถงเกบนามนมไมเพยงพอ และมคาใชจายทจะเขามาเปนตนทนในอนาคต รวมถงกฎหมายทมอยไมรองรบแผนสารองนามนทางยทธศาสตร และหากจะมการจดทาใหมใชเวลาอกอยางนอย 3 ป อยางไรกตาม นายพงษศกดไดมอบหมายให สนพ.รอแผนโครงการสะพานเชอมเศรษฐกจ หรอแลนดบรดจ ในสวนของการวางทอสงนามนมา

ศกษาใหม ซงมองวาหากสามารถวางทอสงนามนมายงอาวไทยได จะชวยสนบสนนแผนการสารองนามนทางยทธศาสตรของประเทศให

เกดขนจรง เนองจากสามารถสนบสนนใหกลมประเทศตะวนออกกลางทเดนทางผานชองแคบ มะละกาเขามาลงทนสรางถงเกบนามน และตง

ศนยจาหนายในประเทศไทยได โครงการดงกลาวยงอยในระหวางการศกษาของ สนพ. 4.การยกเลก จาหนายนามนเบนซน 91 ซงจะทาใหเหลอนามนเบนซนชนดเดยว คอ นามนเบนซน 95 และนามนแกสโซฮอล โดยเปาหมาย

หลกของกระทรวงพลงงานตองการสงเสรมใหภาคประชาชนใชน ามน แกสโซฮอลมากขน อยางไรกตาม จากการประเมนของกรมธรกจ

พลงงาน (ธพ.) คาดวา การยกเลกจาหนายนามนเบนซน 91 จะทาใหประชาชนทใชน ามนในกลมน ซงมปรมาณการใชประมาณ 8 ลานลตร

ตอวน จะหนไปใชน ามนเบนซน 95 ประมาณ 17-25% ทาใหปรมาณการใชน ามนเบนซน 95 เพมขนจาก 1 แสนลตรตอวน เปน 2 ลานลตรตอวน ประกอบกบการทสถานบรการนามนทกแบรนดยกเวน บางจาก จะนานามนเบนซน 95 มาจาหนายมากขน สงผลใหคาการตลาดนามน

เบนซน 95 ปรบลดลงอกประมาณ 1-2 บาทตอลตร ซงอาจทาใหมการแหมาใชน ามนเบนซน 95 แทนทจะเปนนามนชนดใดชนดหนงใน

กลมนามนแกสโซฮอล คงตองมาจบตาดวากระทรวงพลงงานจะมนโยบายอยางไรจงใจใหเกดการใช นามนแกสโซฮอลมากขน 5.การรกษาสถานะกองทนนามนเชอเพลงท ปจจบนตดลบอยราว 1.7 หมนลานบาท โดยสาเหตสาคญททาใหกองทนนามนฯมสถานะตดลบ

หลกหมนลาน มาจากการอดหนนราคากาซแอลพจเปนหลก ซงทผานมาใชเงนอดหนนแอลพจแลวกวา 1.09 แสนลานบาท กระทรวง

พลงงานจงตงความหวงไวกบการลอยตวราคากาซแอลพจใหเกดขน ไดจรงในป 2556 น เพราะอยางนอยจะชวยลดภาระการอดหนนลงได

ไมมากกวานอย ขณะเดยว กน รายไดหลกของกองทนนามนฯมาจากการเกบเงนในสวนของนามนเบนซน 91 ซงหลงจากไทยยกเลกการจาหนวยนามน

เบนซน 91 ตงแต 1 มกราคม 2556 จะทาใหรายไดเงนกองทนนามนฯหายไปวนละ 53 ลานบาท จงทาใหไมมรายไดเขากองทนนามนฯ คงตองตดตามนโยบายของกระทรวงพลงงานจะมแนวทางในการหารายไดเขากองทน นามนฯ หลงมาตรการยกเลกนามนเบนซน 91 ควบคไปกบการสงเสรมใชน ามนแกสโซฮอลผานการอดหนนราคา โดยมความหวงวาสถานะกองทน

นามนฯจะกลบมาเปนบวกอกครง

189

6.การ ปรบปรงแผนพฒนากาลงผลตไฟฟาของประเทศ (Power Development Plan หรอ PDP) ฉบบใหม หรอ PDP 2013 โดยนายพงษศกดแสดงความกงวลการผลตไฟฟาในอนาคตจะไมเพยงพอตอความตอง การใช จงอาจตองมการรบซอไฟฟาจากประเทศ

เพอนบานเพมเตม คอ ประเทศพมา และ สปป.ลาว ทยงสามารถจดหาไฟฟามายงไทยไดอกรวม 2 หมนเมกะวตต นายพงษศกดยงไมฟนธงวาจะซอไฟเพมจากประเทศ เพอนบานเปนจานวน 2 หมนเมกะวตตจรงหรอไม เนองจากในป 2556 น จะมการ

จดทาแผนพดพฉบบใหม (พดพ 2013) โดยจะตดสนใจรบซอไฟฟาจากประเทศเพอนบาน คงตองรอการจดทาแผนดงกลาวใหเสรจสนกอน 7.การเปดประมลรบ ซอไฟฟาจากกลมผผลตไฟฟาเอกชนรายใหญ (Independent Power Producer หรอ IPP) ทยดเยอมาเปน

เวลานาน กอนจะไดฤกษเปดขายซองประมลไปเมอวนท 20 ธนวาคม 2555 ทผานมา แตยงตองจบตาดตอไปวาการเปดไอพพครงนจะ

ดาเนนตอไปจนครบถวน กระบวนความหรอไม เพราะมนกวชาการตงขอสงเกตวา การกาหนดเชอเพลงในการประมลครงนเปนกาซธรรมชาต 100% อาจทาใหภาคเอกชนบางรายทไมม

ความพรอมดานเชอเพลงถอนตวออกไป จนเกดชองวางใหมการนาเอาเชอเพลงถานหนมาอยในแผนพดพทจะมการ ปรบปรงใหมน และเรองสดทาย 8.มาตรการสงเสรมการใชพลงงานทดแทน โดยการใหอตราสนบสนนเงนตามการลงทนทแทจรง (Feed in tariff) ลาสด ผลการศกษาท สนพ.ทารวมกบสถาบนวจยพลงงาน จฬาลงกรณมหาวทยาลย เคาะราคาฟดอนทารฟท 5.12 บาทตอหนวย คดจาก

อตราผลตอบแทนการลงทน (Internal rate of return-IRR) ท 12% ราคาทออกมาดเหมอนจะไม เปนทพอใจของภาคเอกชนนก โดยสวนใหญมองวาตวเลขทออกมาเปนคาทตาเกนไป อกทงการคานวณไมควรมา

จากสถาบนการศกษาทไมไดคลกคลหรอทาธรกจใน แวดวงโซลารเซลล จงไมเขาใจภาพรวมของธรกจอยางถองแท ซงภาคเอกชนคาดหวงวา

จะไดรบคาฟดอนทารฟท 6.50 บาท จงจะจงใจใหเกดการลงทน

190

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