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To BRAY CS) Pref emtne. cis cloud xr Pout adailatste. fer Fey) chase YX | Noo} Goyshys xR —__ | Spo: Amt avetilan ou, Says] chavs} See |! Novel shore dnjshoro) | jm kial 0 | ei ——————ors ee | a | | : 7 x] 1} 204 seuur 20 Dy moo" 19 5 ®) | Prrobiom No 2 2/2 Aividouth lap: I Squsty sha: £2 tof each 5 10, 00,700 * | Clodooxipd ; | [O C9090 ) Tee oo | | | | good shave 0] $8 oofeee «t= ee 7 aaa z ‘ L. aes aA | Ri | sonaee! leCdovd [evo 5 Dorn_— oe Teeos hee? enum | EbT 500000 Yop] wise |uSorP? e)mr@so/|_2s-e000 [ 2ascv0 | 22S | 225000 cAT [2000 | 2a SOUL) 2.31500 295000 i= [sone | tooo — T pivident [be aval joregthie| 2S C000 [~ masovo . [25857 | ese 4 ho-clertyten | 2 G07? char Uae? Lerwo_anave ise ae rVet voslab vin eq Shue @)2s0000 © b-Se i fe = Put NAS wtih No-clehore * Lovo, I =Cb) 225000 = (SE ieee sto) 201SOD 13.83 (OSU‘YouvA [ope et Lo, 09.052 —o > idysher Lonf— pa © shaxce- Lope < 19, DODO > uv SPB/OEO_ Caparst 2ECGTO Prfshane 2,50, orm aebert e/a Foe Gis) S000 si 230000 25x T Aebonture ey plese a iet prc ae a 2-s7s0 Share | cnn es ete Sal a Nai We ble cest 5 Cost pros Oe yom Fixed cort shout p> {bk ax sO fb see. ei — pe] ry RE sales T Vanweble. cosh 7 | S_ labour, etectnety| , x Vela Por unit haod et Nanavlectla/ fined cit { \ounis ined eof ee a L ie ww * Loop) — pe hee A ee i i Seer Pree | ¢ sales bcos sa Apa nN he : uato wet) [no S09 Fei ext oc [ Ty wavioble wit Te unt wo ef}uaite— : tebe i [tosiabie coss 1 a t Jes | prscotucas) oe too roe Cine (Less sassadsceat_[Loant) ae 5 eee) = We fon tobutioo Conibictign 29 finect oh (les Eined cak Gor] OD) Cinecteat “(40% Either opted oC Tote y Gee. Gert] **>* Prot enw ee Ce | | Op. atin Lee ge oud Lh ubba Jo pach Gilg epectch federeges ts a seers = go Hes mu ch Pea ¢ fing f Words opincas ik tp jin ry busicregs der cotrch Ty en = ] I t nk —‘Youva Cr i —a — | Sales “fone Nasneible cost nnn Zon butane = me N) Fixed cost Copuctting h eoaltat) RRA eBlt ‘ > x QD) Tate x02h (Ninn ope Cth xed FD} 0 > eC eT = aAY ©) ~tax aK eae ne Lever 42 ane Spas) levepecjen .Financlatleverage + Combined leverage v Vv - eae] wo tev oo 5 Can bi buh on = SS {st elriro, love “ef eaiT - Do Financial leveaege = €@\T Dequce_o} wont leverage) SRT ain » Combined love ange. = Oot x OF L oe ~epabrbUhog » SatT Se = ta — = _conhi bution — “eat “clon de ~—_| ~—_|, RM lA ace Garustalon of leve — 13, 3333 woo E> vavable wat “cons bukoo | (-) Fixed cote | ¥ | 100,050 zp | 32 1 Boo see 2, on0oD = - air co odinoes or 321 X. Varo FLO coe pongo opsnatcd| pth E WU chavo AS ees = Vou 5 _ ~e att 2 ido, 57 j ‘ra S0,SBO yo 2 2 fim I melt 5 mood pital 2 loancapi tot ee 32> [ qe | eeeeo \\\\\ omy \\\\\\\\\ WAN past sata ate Spain pep eet ir SEPage io: youva _ Salas = 4 GOGQEA!TO Nawiable =u goood 4Jo = Bo. 5 103,333 =o, 33 33y, fc rene-s— sm Sot len — Changeo| sales-oyainalsaleg ter ginal sales = 1b 23.92% — 10,60, 900 10% ee ae ua JHB, 16, 50, pad. 2 1s ae , * Wo 33) TP wir deites Cmrectt roy 0/P pa past ctoub!l oe, : - nw satinig Sie o 2P2 > Tfatewr TEST C Fixcote- Z I(tean[bereis fae) | Bp y T wel poeple COunricler louesscrope ot a Line ~7 (Ta) frecotavailabe iy erare—~ Nox} gayitysha pe aT Set youl egairitee cape! 2: are _laci cance o} i ay cee Ou bo Lith on T qd cae wiauo| ie C= uo| Los fi roe TORO coho V Cou te colo «> That a :~ Polutines| Counnioy | 27002” Curnow frole —c).Pned cor t te ee = vue aV'h 04, hy sees th “ Lice! fepyouk : o. 5 La tan 5 poe ; repaitpal casled:| 60,002 RB? Fret tarals | SSD, orm. | Sabee G0 DO Yosnietlole_wo th: 2. dom (Uf, ater ualos kom COM bh om: 2.62, DD. Q(T Titers 4 CN on Op J. __(ro'}.d re) 2 — a BSI Ds exes ace ee J.clacince — Ta, @vof. - we 1 je AT say Prolere mea iV : cae On Leet AM avoite eer _12-G. cog. Ment 8) Below : Cash share Gt gleet No: Equi) sha KR BA on ees SPsEL = €ei7 <20,009 2h eatmeo eB 3 FOO ae Pry COO ga iin Bat teo z\L glenn e ERT bn + ‘ = pobhures 7] cfurgs le > T furan ss nxt » feel. Z yr | corrrenct eo & Caystyle J Asa i—— CLE OLxPl = [28 XOS= bUsrCornrod stn £27 Posy Choa ne Sct em ay aa Cuz Bea shigevyouva —T pe Dwd_avar'loble cm paca alacn . 7 Ko OP eg tic —TI = c 2s Looe MBO Ubud N = 3 oO =o ere: ala 5 coubus . : (A) Fixccl voth SQ IT BNO” 0O + 1% % 00D CO) fron oper Paul : 9 HO nd OPP ar! T £5000 \% po000- €) tan@ sol - [000 [3 eee ep <0] | a _oee = AO0VO =) Pol atv. [ise e — Trad variable pr CatyAg.. |. Banoo - t 2 Steg 25 Nog han a eee) seen ea [epee T qT %Y ee 4 = I @) | Fatt an tte obs po ia "ppraan bet Qe) f \iipla oe Gyoumo- 4 aba EO oo | Age wo] 8002 189 4 CNNC 2000 WI? | 120? u002 so (ain Teme Bla 27] 802 = | fi boo oO ei Bod! Spe” po a TurCNand) 5D 2so " eee Tax @se|. | 5° =e enenese ma: a ze So SOD L Preerf abt srich cel | Ev epitT = 2e\7 et sere Tutoricol” Aipbeec} 2 = Se'T J eplT—2 CO DEBIT Eom 2 BIT a¢ehIT = 600 Ep|T = 200 . [= Coutuloutia” e oH EIT: S52 qoufwbul? soo cotutinly 1= SOR 9 fe can tabe ates VC SPosloo= wot £ } VC = >a - cmbar 33)" at iso = 3d'I3 Uso Sales “oSc5p Pods Uso¥ | cae Mae 2 Se IDS = eDnOe wm \\\\\\\4 6 B® [pots — 2+ 2 pit 2 EIT 2st : eT ef T= Tirso : Qe ep iT EQ T— 50 * uepiy — J200 = £@ IT Ao¢ Po [T = 207 EB\T = Un MOL= cous buy? ear Coumtibui?s 6e4U0Os auoo | 44 tn qlulato, sates ¢ VC - Aue = 27 © S4e soiles = 100 Sales - 200X100 JC Ue TS 7 25° BS =A - cmon Lo Sei 2 _ERIT pet nA Oe EST: £O\T—hitiweot ~ - EBT _ EAT Buk loo o- ZEMT = 2000 = Cait EB|T= &O0o* lI OL = woutubul? Eeit 22 cpoutsbut 7 zoco hu T2U000 Loe coteutarhe. aces $vc - 4 Upao = S50: Seile, = UOOOAYP = soe x Saloas yo ' pafCe ee ‘Youva & | B17 _roaiacrecoed prom fo Sov to fsooe coda clr des roy) MW (70 Qe2* bowie} | epesratiicry lereatig prom Sincere alin Fou dole’ guatlab SP Jor a} = Qo y of NC! Wrtya eC = Pao ,o59,5e0 wruab ute OL er eee Vit ect calla §e0o uwts Alses iad *] met He eaifen dahl cere tos eait raf datpaat | As lau S| D PT eno uwts | Shp [towo+ 60008 ST = Lacwuet Sate emo {2-0 whe00)| “1 > hoe ave [us dc00 XY 90° aor 160), DOS > AS,600 GALES 2.09, 0S 2, OF0OD eR1T 08.5.0 tL Woe.0 1, Le caubeby eee oboe. EBSO00D £2-Gdne, EBT | 1,00, 000 {tspoo VT chauge un €2¢F 2 News EsiT= ott EST i U estcr += : hoe ua 221 T = Chorgne €P.1T alo £A1T yp oo [ Sldl@\T 2 so Lo O900 USD ‘eo 0000 «| r\s-e “ —~_| Lown iu J. * “Se.(Mfeced) POF senttomecen(2|>424) arses on ee los cela hted Averrose -Cott of Capt eH ; ited coramon s feck > Capt pNonne wed cop }wwacc- = kewesKpop 4 Ko Wd & Kt uta k Wy —_ ch: Weagquied cho! pital —______—— eae a A ee pe ee oe cpt e= 2Oa Umrbed coucrpeny Los ou. cop the farce > Cdulaalate 2 bby Bhavana Gy > frlectnce sham ee lo re ~ Cal c mae poe See Se a Pe 229 PES ONT ply sane co 200 = 0.20] O° 08 ‘ loos xe fal ro oreo ——__3 |Peteuinacs (2 oy 20-20 2:0>6 POU nH + 1D00 1 Bop ut |Debotedtyrve | USD WSO 20-us | 40% = 0-070 © -oYoRe way Wi eee £-| Te xen loan -| So sO >O-D 6 =n-06 65-00% [ leo pay: 1000 L oO: (a1S3- UAC? = o1tcB xtIOO + 14-52) peu co Hee eee | eet 2 Se| 10, 90,000 _| cena (eee u ooe_teased | Teo each alate ap. > 8. eka * 2S Pv? ay. a a = P- 1 ,Ocoro- 16 He cof qos oa 5 7 : [po] Pebadnwn Cove £,6py900--| 11] 7 ’ Diny bax = Pens-sest (eo Farol) y q yw oe a ( {EBs) : Cae joo 107 a oa otf = Eee 2 e 7. _ EG ~ aoe = 2068 | ]as Sh)” aN ==. Tuto veo) a Sistema os catia rem ey Sep Ease eae a : Belxe Bx Tea] a! t sepia aes Boa 4 ‘ | aebs! 4X —_. Caaua acces] 1,00, 500 ou OID [> [0:65 | [ too | 2,50,po> O-1 o-py = 4 0-004 | (oo MErnloan | 1.59000. o> | eoas os | aa j oz OB _ Caw py, U_ | “asp0,000- o106S t epee 7 eke]. Igddebr sy o0,700. Dscu. al canal bo oh) Cp me Pat wy NSCS debt al Ey i : | x Compuleny G"> Aavs reel debt loan. Sooure - c na lisse ) > Revised oPrem 1co # Pr p O44 0-016 02158 een 0-01 Oy Ours yor let & ~ _— Rev ized = uwopcc. Tha e “yg 000, Tenet ts Jobing cometh w= beat Rqusee. b) pag See\A7 Tne 4 Calulate GPM} S00 = | : N— | Ca lauterto CO ~ aes . be/ ni) Cree) she wow tee coh Froese, fos cost sheet tre PO jeoited i ‘ roe W raente yo OS Psi, SOc0oO 7 hed of pos UE ur tne one house. fy worth DL : " Yo oe fete pocrla rey capital needed — . | Su cone = to 4 co. a level a} actu ol n pup Prod ® us raed of puen] th bad the Yeo? # ik bon gf qverheods QAC7rew _ acai Lo Aterhe our os con fol etfcrwy Acai V I y £ wren dee gps fires useels V dubhadit it seclepr - rol peru a canal ean gelipen| oF | ry S pveyhead 7 Uomo aaySeay User lin E Z2Eon et 4 Ascumie wipe esp, Tete oe Pi dans a hee ae ee a SS + AasotS ~ se SS — Sees ne Sucre lore 71s YSD aa oa BEE] 6S a [ Pnished Qonects | BuU0o0% 160 x30 2794s 2 > | Bos ae | Aoul 7 x eloters (sam UO%O T cou dn cract't bane) (SP take’) BUAVOOx Ian X 3S % 6087 a 36s - a] cash | bane lowyoro : an . l Tote ument Pesets A452 30% 41) less :— cute nt Ue t b' pes atieS Certee tenia nicetocted \)(Crectet outed ry gapypl 604: Ian Suyp9 * 5Ox2,0 1 otI2& B6S | 2 feast stanaiag Hosi.00 (Log sin Arie) 4 yD 4 doxio! 4 | | Se [ews EWA Ay evexhoaolt QdR ar Peet tor x SoH 20 _ Tote) TBR AO Quaial —(2) | Covedes capital TOBA 2)choy s, yr ee idiaask obcete =» TUS vo obisnickeadl clate- ye a etadisf! SOM Dple —> snveob 19 bye arr aya usstuout i 1 q Snot spe}. Vater pj shart < r0-0] pb” Shave> y Pawo = SD, 000 - poop cuca y [> QuoOmirw tres s youva 257 Pobu!] Tuctivioluel Tnvat}ge) a) legs He he a 5 volvo jo AIT ar Te tt ea py n alatha fou rp - — mrt CNen—Tnstititvenal Invest) >2tokhe mis] 1 Lila PIO pret Nr — 7 | atigth net uml etd) vtelucl —T— ji = = : — 016 (CQ uatearccl qe Peseta errs) oh Pubs : tol Pets * M Ne Sou 3 still mM cial Pustituttoua tensnorsds ob Mh, fides! sud austluity (}orsctest th (te12), - sce 2 nm \ ook Mle ;— ima ii co 2 | ME [el dtSes ge Wg tO tie) ee PRs Segall | f 2 Powe 4 wt j_ att 24 ; ce pouat CDessatorol = actoust .uoba’ toa c1ccee t Finclioo oi2,en an ren ol epomimnty 4 Tamas wre S10 buokrrs ).40 breaches ished dashes 2 i ouiite orn fe leclatons t [ f Tee soy rtseo auelld io electro sc form bey Lepes “hom . | Defocitim ia an Jaertul ong’ —sotuich Wolds aehontieh ‘tuhnan tevintuves bonds, ME) HA ut 2 Lipwes) 10 cl Z Te a NSeL cDSL x Sonal secures omtival dep ocitor, . Dopod tims anitod Aameos Vive of 2] Mow is ne climocl couferct bel? anverta Fedeue. juAjni chad by involied Sp-tlew ASCue. coutuact note Tawa Vpadq aang TNS ctetecls 9} uae buckenagec cheged } t = 4 Be eB -E el —[Fitocouy Turcucli-s Deter Tada | v + | Traders, buy Joett or tier Saye ~ Paying stocte FP lnicives taco oy = Th dows notin votv2 uae] Maryind Neve eae juveiuler a 4 8 poscsaie da Om bubted Maesethewerst On) | Urputd boo. ood cached| | | tows Jo select hole Fundaravdst mye = aievyouva [ Finance sos B_scieucee ee | Brraea 8} qfiinw nee <5 Ek dosti A\\\ 2 Finaucicl MA gud i Bur: : 7 ee ge || 1 Porbanset Le) ) comp auy } an | fa shakes Oe fy uspbaaila ei oe pi Fina we—veyires bbe savaged acnottallbusars Ago | C q a | 1 wctce] Hot » Planning (pryaqauiatna hinetting ¥ [etal oe IAUA\ Athvit eo TTB uastie citeco oe Diviclent otecisi ; pits e283. $$ LZ 2 Zone ital Fined Meet fin i, ‘tortura current ag ewetheer 7 copied reek SIDED col Amse Tw! 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