INVERSIÓN MONTO DEPRECIACIÓN DEP. ACUM.

LINEA DE PROD S/300,000 S/60,000 S/240,000

MAQUINARIA S/150,000 S/37,500 S/150,000
ADQ TERRENO S/150,000 S/0 S/0
INSTALACIONES S/200,000 S/20,000 S/80,000
DERECHOS DE MARCA
(intangible) S/200,000 S/50,000 S/200,000
Inv. Activo Fijo S/1,000,000

AÑO 0 AÑO 1 AÑO 2

VENTAS S/2,200,000 S/2,310,000
% DE CAP TRAB. 10% 10% 10%
NECESIDAD CT S/220,000.00 S/231,000.00 S/242,550.00
INVERSIÓN DE CT -S/220,000.00 -S/11,000.00 -S/11,550.00
RECUPERACIÓN CT

ESTADO DE RESULTADOS PROYECTADO (sin deuda)

AÑO 0 AÑO 1 AÑO 2
VENTAS S/2,200,000.00 S/2,310,000.00
C. VENTAS -S/924,000.00 -S/970,200.00
U BRUTA S/1,276,000.00 S/1,339,800.00
G. ADM -S/198,000.00 -S/207,900.00
G. VENTAS -S/220,000.00 -S/231,000.00
EBITAD S/858,000.00 S/900,900.00
DEP LINEA DE PROD -S/60,000.00 -S/60,000.00
DEP MAQUINARIA -S/37,500.00 -S/37,500.00
DEP INSTALACIONES -S/20,000.00 -S/20,000.00
AMORT. DERECHOS -S/50,000.00 -S/50,000.00
EBIT S/690,500.00 S/733,400.00
GF S/0.00 S/0.00
UAI S/690,500.00 S/733,400.00
IMP 30% -S/207,150.00 -S/220,020.00
U. NETA S/483,350.00 S/513,380.00

FLUJO DE CAJA LIBRE O ECONÓMICO (método indirecto)

AÑO 0 AÑO 1 AÑO 2
U . NETA S/483,350.00 S/513,380.00
DEP LINEA DE PROD S/60,000.00 S/60,000.00
DEP MAQUINARIA S/37,500.00 S/37,500.00
DEP INSTALACIONES S/20,000.00 S/20,000.00
AMORT. DERECHOS S/50,000.00 S/50,000.00
NOPAT S/650,850.00 S/680,880.00
INVERSIÓN CT -S/220,000.00 -S/11,000.00 -S/11,550.00
RECUPERACIÓN CT
V. S. LINEA DE PROD
V. S. MAQUINARIA
V. S. TERRENO
V. S. INTALACIONES
V. S. DERECHOS
INVERSIÓN ACT FIJO -S/1,000,000.00
FLUJO DE CAJA LIBRE O -S/1,220,000.00 S/639,850.00 S/669,330.00
ECONÓMICO

NOPAT = EBIT * (1 - T) + DEP + AMORT

 V LIBROS V VENTA V SALVAMENTO
S/60,000 S/50,000 S/53,000
S/0 S/3,000 S/2,100
S/150,000 S/210,000 S/192,000
S/120,000 S/80,000 S/92,000

S/0 S/100,000 S/70,000

AÑO 3 AÑO 4
S/2,425,500 S/2,546,775
10%
S/254,677.50
-S/12,127.50
S/254,677.50

AÑO 3 AÑO 4
S/2,425,500.00 S/2,546,775.00
-S/1,018,710.00 -S/1,069,645.50
S/1,406,790.00 S/1,477,129.50
-S/218,295.00 -S/229,209.75
-S/242,550.00 -S/254,677.50
S/945,945.00 S/993,242.25
-S/60,000.00 -S/60,000.00
-S/37,500.00 -S/37,500.00
-S/20,000.00 -S/20,000.00
-S/50,000.00 -S/50,000.00
S/778,445.00 S/825,742.25
S/0.00 S/0.00
S/778,445.00 S/825,742.25
-S/233,533.50 -S/247,722.68
S/544,911.50 S/578,019.58

AÑO 3 AÑO 4
S/544,911.50 S/578,019.58
S/60,000.00 S/60,000.00
S/37,500.00 S/37,500.00
S/20,000.00 S/20,000.00
S/50,000.00 S/50,000.00
S/712,411.50 S/745,519.58
-S/12,127.50
S/254,677.50
S/53,000.00
S/2,100.00
S/192,000.00
S/92,000.00
S/70,000.00

S/700,284.00 S/1,409,297.08
CRONOGRAMA DE PAGOS - PRÉSTAMO BANCARIO

PERIODO AMORTIZACIÓN INTERÉS CUOTA

0
1 S/37,500.00 S/13,500.00 S/51,000.00
2 S/37,500.00 S/10,125.00 S/47,625.00
3 S/37,500.00 S/6,750.00 S/44,250.00
4 S/37,500.00 S/3,375.00 S/40,875.00

CRONOGRAMA DE PAGOS - BONO

PERIODO AMORTIZACIÓN INTERÉS CUOTA

0
1 S/0.00 S/40,000.00 S/40,000.00
2 S/0.00 S/40,000.00 S/40,000.00
3 S/0.00 S/40,000.00 S/40,000.00
4 S/500,000.00 S/40,000.00 S/540,000.00

CRONOGRAMA DE PAGOS - LEASING FINANCIERO

PERIODO AMORTIZACIÓN INTERÉS CUOTA

0
1 S/31,385.17 S/18,000.00 S/49,385.17
2 S/35,151.39 S/14,233.78 S/49,385.17
3 S/39,369.55 S/10,015.61 S/49,385.17
4 S/44,093.90 S/5,291.27 S/49,385.17

FLUJO DE CAJA FINANCIERO (método indirecto)

AÑO 0 AÑO 1 AÑO 2

FCL O ECONÓMICO -S/1,220,000.00 S/639,850.00 S/669,330.00
INGRESO POR
PRÉSTAMO BANC S/150,000.00
INGRESO POR EMISIÓN
DE BONO S/500,000.00

CUOTAS DE PRÉSTAMO -S/51,000.00 -S/47,625.00

CUOTA DE BONO -S/40,000.00 -S/40,000.00
CUOTA DE LEASING -S/49,385.17 -S/49,385.17

AHORRO FISCAL POR

INTERESES DE
PRÉSTAMO S/4,050.00 S/3,037.50
AHORRO FISCAL POR
EMISIÓN DE BONO S/12,000.00 S/12,000.00
AHORRO FISCAL POR
LEASING FINANCIERO S/5,400.00 S/4,270.13

LEASING FINANCIERO S/150,000.00

FLUJO DE CAJA
FINANCIERO O DEL -S/420,000.00 S/520,914.83 S/551,627.47
ACCIONISTA

ESTADO DE RESULTADOS PROYECTADO (con deuda)

AÑO 0 AÑO 1 AÑO 2

EBIT S/690,500.00 S/733,400.00
GF -S/71,500.00 -S/64,358.78
UAI S/619,000.00 S/669,041.22
IMP 30% -S/185,700.00 -S/200,712.37
U. NETA S/433,300.00 S/468,328.85

ESTADO DE SITUACIÓN FINANCIERA PROYECTADO (con deuda)

AÑO 0 AÑO 1 AÑO 2
ACTIVO
Act Corriente
Caja S/520,914.83 S/1,072,542.30
Capital de Trabajo S/220,000.00 S/231,000.00 S/242,550.00
Total Act Corriente S/220,000.00 S/751,914.83 S/1,315,092.30
Act No Corriente
Activo Fijo S/1,000,000.00 S/1,000,000.00 S/1,000,000.00
Dep Acumulada -S/117,500.00 -S/235,000.00
Amort. Acumulada -S/50,000.00 -S/100,000.00
Total Act No Corriente S/1,000,000.00 S/832,500.00 S/665,000.00
TOTAL ACTIVO S/1,220,000.00 S/1,584,414.83 S/1,980,092.30
SALDO DE DEUDA
S/150,000
S/112,500.00
S/75,000.00
S/37,500.00
S/0.00

SALDO DE DEUDA
S/500,000.00
S/500,000.00
S/500,000.00
S/500,000.00
S/0.00

SALDO DE DEUDA
S/150,000.00
S/118,614.83
S/83,463.45
S/44,093.90
S/0.00

AÑO 3 AÑO 4
S/700,284.00 S/1,409,297.08

-S/44,250.00 -S/40,875.00
-S/40,000.00 -S/540,000.00
-S/49,385.17 -S/49,385.17

S/2,025.00 S/1,012.50

S/12,000.00 S/12,000.00
 S/3,004.68 S/1,587.38

S/583,678.52 S/793,636.79

AÑO 3 AÑO 4
S/778,445.00 S/825,742.25
-S/56,765.61 -S/48,666.27
S/721,679.39 S/777,075.98
-S/216,503.82 -S/233,122.79
S/505,175.57 S/543,953.19

AÑO 3 AÑO 4 AÑO 0

PASIVO
Pas. Corriente
S/1,656,220.82 S/2,449,857.61 Pas No Corriente
S/254,677.50 TOTAL PASIVO S/800,000.00
S/1,910,898.32 S/2,449,857.61 PATRIMONIO
Capital S/420,000.00
S/1,000,000.00 S/1,000,000.00 Utilidad Acum. S/0.00
-S/352,500.00 -S/470,000.00 Utilidad Ejer. S/0.00
-S/150,000.00 -S/200,000.00 Rev del Activo S/0.00
S/497,500.00 S/330,000.00 TOTAL PATRIMONIO S/420,000.00
S/2,408,398.32 S/2,779,857.61 TOTAL PAS Y PAT S/1,220,000.00
AÑO 1 AÑO 2 AÑO 3 AÑO 4

S/731,114.83 S/658,463.45 S/581,593.90 S/0.00

S/420,000.00 S/420,000.00 S/420,000.00 S/420,000.00

S/0.00 S/433,300.00 S/901,628.85 S/1,406,804.42
S/433,300.00 S/468,328.85 S/505,175.57 S/543,953.19
S/0.00 S/0.00 S/0.00 S/409,100.00
S/853,300.00 S/1,321,628.85 S/1,826,804.42 S/2,779,857.61
S/1,584,414.83 S/1,980,092.30 S/2,408,398.32 S/2,779,857.61