SKI RESORT INVESTMENT DECISION CONSTANTS 2019 2020 2021 2022 2023 2024 2025 TAX RATE NA 0.20 0.20 0.20 0.20 0.20 0.20 CASH NEEDED TO START NEXT YEAR NA 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 INTEREST RATE ON DEBT NA 0.03 0.03 0.03 0.03 0.03 0.03 DAILY LIFT TICKET PRICE NA $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 ANNUAL LIFT TICKET PRICE NA $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 AVERAGE DAILY MONEY SPENT ON FOOD NA $ 25 $ 25 $ 25 $ 25 $ 25 $ 25 AVERAGE SKI SCHOOL DAILY PRICE NA $ 45 $ 45 $ 45 $ 45 $ 45 $ 45 AVERAGE DAILY RENTAL PRICE NA $ 25 $ 27 $ 30 $ 30 $ 35 $ 40 NUMBER OF SKI DAYS PER YEAR 100 100 100 100 100 100 OTHER DAILY REVENUE NA $ 15 $ 15 $ 15 $ 15 $ 15 $ 15 SUMMER POTENTIAL REVENUE $ - $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,200,000 $ 1,200,000 OPERATING COSTS - SNOW MAKING 2,000,000 1,800,000 1,800,000 1,800,000 1,700,000 1,600,000 OPERATING COSTS - SUMMER $ 350,000 $ 350,000 $ 400,000 $ 400,000 $ 400,000 $ 450,000 DAILY OTHER WINTER OPERATING COSTS 15,000 15,000 15,000 15,000 15,000 15,000 FIXED COSTS 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 INPUTS ALL YRS 2020 2021 2022 2023 2024 2025 RATE OF CHANGE IN SKIERS NA NA NA NA NA NA ECONOMIC OUTLOOK (Good, Poor) NA NA NA NA NA NA CLIMATE CHANGE FACTOR NA SUMMER OPERATIONS (Y OR N) NA SUMMARY OF KEY RESULTS NET INCOME AFTER TAXES - 2025 END-OF-THE-YEAR CASH ON HAND - 2025 END-OF-THE-YEAR DEBT OWED - 2025 PROFIT MARGIN - 2025 CALCULATIONS 2019 2020 2021 2022 2023 2024 2025 NUMBER OF DAILY SKIERS 3000 NUMBER OF SEASON SKIERS 500 YEARLY TOTAL SKIER REVENUE DAILY SKI SCHOOL ATTENDEES YEARLY SKI SCHOOL REVENUE DAILY EQUIPMENT RENTAL USERS YEARLY RENTAL REVENUE YEARLY FOOD CONCESSION REVENUE OTHER YEARLY REVENUE INCOME STATEMENT ANDCASH FLOW STATEMENT 2019 2020 2021 2022 2023 2024 2025 BEGINNING-OF-THE-YEAR CASH ON HAND NA REVENUE - SKIERS NA REVENUE - SKI SCHOOL NA REVENUE - EQUIPMENT RENTAL NA REVENUE - FOOD CONCESSION NA REVENUE - OTHER NA REVENUE - POTENTIAL SUMMER NA TOTAL REVENUE NA OPERATING COSTS - SNOW MAKING NA SUMMER OPERATING COSTS NA YEARLY WINTER OPERATING COSTS NA FIXED COSTS NA TOTAL COSTS NA INCOME BEFORE INTEREST AND TAXES NA INTEREST EXPENSE NA INCOME BEFORE TAXES NA INCOME TAX EXPENSE NA NET INCOME AFTER TAXES NA 2019 2020 2021 2022 2023 2024 2025 NET CASH POSITION (NCP) BEFOREBORROWING AND REPAYMENT OF DEBT(BEG OF YR CASH + NET INCOME) NA ADD:BORROWING FROM BANK NA LESS: REPAYMENT TO BANK NA EQUALS: END-OF-YEAR CASH ON HAND 4000000 DEBT OWED 2019 2020 2021 2022 2023 2024 2025 BEGINNING-OF-YEAR DEBT OWED NA ADD: BORROWING FROM BANK NA LESS: REPAYMENT TO BANK NA EQUALS: END-OF-THE-YEAR DEBT OWED 2000000
SKI RESORT INVESTMENT DECISION CONSTANTS 2019 2020 2021 2022 2023 2024 2025 TAX RATE NA 0.20 0.20 0.20 0.20 0.20 0.20 CASH NEEDED TO START NEXT YEAR NA 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 INTEREST RATE ON DEBT NA 0.03 0.03 0.03 0.03 0.03 0.03 DAILY LIFT TICKET PRICE NA $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 ANNUAL LIFT TICKET PRICE NA $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 AVERAGE DAILY MONEY SPENT ON FOOD NA $ 25 $ 25 $ 25 $ 25 $ 25 $ 25 AVERAGE SKI SCHOOL DAILY PRICE NA $ 45 $ 45 $ 45 $ 45 $ 45 $ 45 AVERAGE DAILY RENTAL PRICE NA $ 25 $ 27 $ 30 $ 30 $ 35 $ 40 NUMBER OF SKI DAYS PER YEAR 100 100 100 100 100 100 OTHER DAILY REVENUE NA $ 15 $ 15 $ 15 $ 15 $ 15 $ 15 SUMMER POTENTIAL REVENUE $ - $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,200,000 $ 1,200,000 OPERATING COSTS - SNOW MAKING 2,000,000 1,800,000 1,800,000 1,800,000 1,700,000 1,600,000 OPERATING COSTS - SUMMER $ 350,000 $ 350,000 $ 400,000 $ 400,000 $ 400,000 $ 450,000 DAILY OTHER WINTER OPERATING COSTS 15,000 15,000 15,000 15,000 15,000 15,000 FIXED COSTS 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 INPUTS ALL YRS 2020 2021 2022 2023 2024 2025 RATE OF CHANGE IN SKIERS NA NA NA NA NA NA ECONOMIC OUTLOOK (Good, Poor) NA NA NA NA NA NA CLIMATE CHANGE FACTOR NA SUMMER OPERATIONS (Y OR N) NA SUMMARY OF KEY RESULTS NET INCOME AFTER TAXES - 2025 END-OF-THE-YEAR CASH ON HAND - 2025 END-OF-THE-YEAR DEBT OWED - 2025 PROFIT MARGIN - 2025 CALCULATIONS 2019 2020 2021 2022 2023 2024 2025 NUMBER OF DAILY SKIERS 3000 NUMBER OF SEASON SKIERS 500 YEARLY TOTAL SKIER REVENUE DAILY SKI SCHOOL ATTENDEES YEARLY SKI SCHOOL REVENUE DAILY EQUIPMENT RENTAL USERS YEARLY RENTAL REVENUE YEARLY FOOD CONCESSION REVENUE OTHER YEARLY REVENUE INCOME STATEMENT ANDCASH FLOW STATEMENT 2019 2020 2021 2022 2023 2024 2025 BEGINNING-OF-THE-YEAR CASH ON HAND NA REVENUE - SKIERS NA REVENUE - SKI SCHOOL NA REVENUE - EQUIPMENT RENTAL NA REVENUE - FOOD CONCESSION NA REVENUE - OTHER NA REVENUE - POTENTIAL SUMMER NA TOTAL REVENUE NA OPERATING COSTS - SNOW MAKING NA SUMMER OPERATING COSTS NA YEARLY WINTER OPERATING COSTS NA FIXED COSTS NA TOTAL COSTS NA INCOME BEFORE INTEREST AND TAXES NA INTEREST EXPENSE NA INCOME BEFORE TAXES NA INCOME TAX EXPENSE NA NET INCOME AFTER TAXES NA 2019 2020 2021 2022 2023 2024 2025 NET CASH POSITION (NCP) BEFOREBORROWING AND REPAYMENT OF DEBT(BEG OF YR CASH + NET INCOME) NA ADD:BORROWING FROM BANK NA LESS: REPAYMENT TO BANK NA EQUALS: END-OF-YEAR CASH ON HAND 4000000 DEBT OWED 2019 2020 2021 2022 2023 2024 2025 BEGINNING-OF-YEAR DEBT OWED NA ADD: BORROWING FROM BANK NA LESS: REPAYMENT TO BANK NA EQUALS: END-OF-THE-YEAR DEBT OWED 2000000
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| SKI RESORT INVESTMENT DECISION | |||||||
| CONSTANTS | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| TAX RATE | NA | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| CASH NEEDED TO START NEXT YEAR | NA | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 |
| INTEREST RATE ON DEBT | NA | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| DAILY LIFT TICKET PRICE | NA | $ 100 | $ 100 | $ 100 | $ 100 | $ 100 | $ 100 |
| ANNUAL LIFT TICKET PRICE | NA | $ 700 | $ 700 | $ 700 | $ 700 | $ 700 | $ 700 |
| AVERAGE DAILY MONEY SPENT ON FOOD | NA | $ 25 | $ 25 | $ 25 | $ 25 | $ 25 | $ 25 |
| AVERAGE SKI SCHOOL DAILY PRICE | NA | $ 45 | $ 45 | $ 45 | $ 45 | $ 45 | $ 45 |
| AVERAGE DAILY RENTAL PRICE | NA | $ 25 | $ 27 | $ 30 | $ 30 | $ 35 | $ 40 |
| NUMBER OF SKI DAYS PER YEAR | 100 | 100 | 100 | 100 | 100 | 100 | |
| OTHER DAILY REVENUE | NA | $ 15 | $ 15 | $ 15 | $ 15 | $ 15 | $ 15 |
| SUMMER POTENTIAL REVENUE | $ - | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,200,000 | $ 1,200,000 | |
| OPERATING COSTS - SNOW MAKING | 2,000,000 | 1,800,000 | 1,800,000 | 1,800,000 | 1,700,000 | 1,600,000 | |
| OPERATING COSTS - SUMMER | $ 350,000 | $ 350,000 | $ 400,000 | $ 400,000 | $ 400,000 | $ 450,000 | |
| DAILY OTHER WINTER OPERATING COSTS | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | |
| FIXED COSTS | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | |
| INPUTS | ALL YRS | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| RATE OF CHANGE IN SKIERS | NA | NA | NA | NA | NA | NA | |
| ECONOMIC OUTLOOK (Good, Poor) | NA | NA | NA | NA | NA | NA | |
| CLIMATE CHANGE FACTOR | NA | ||||||
| SUMMER OPERATIONS (Y OR N) | NA | ||||||
| SUMMARY OF KEY RESULTS | |||||||
| NET INCOME AFTER TAXES - 2025 | |||||||
| END-OF-THE-YEAR CASH ON HAND - 2025 | |||||||
| END-OF-THE-YEAR DEBT OWED - 2025 | |||||||
| PROFIT MARGIN - 2025 | |||||||
| CALCULATIONS | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| NUMBER OF DAILY SKIERS | 3000 | ||||||
| NUMBER OF SEASON SKIERS | 500 | ||||||
| YEARLY TOTAL SKIER REVENUE | |||||||
| DAILY SKI SCHOOL ATTENDEES | |||||||
| YEARLY SKI SCHOOL REVENUE | |||||||
| DAILY EQUIPMENT RENTAL USERS | |||||||
| YEARLY RENTAL REVENUE | |||||||
| YEARLY FOOD CONCESSION REVENUE | |||||||
| OTHER YEARLY REVENUE | |||||||
| INCOME STATEMENT AND CASH FLOW STATEMENT |
2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| BEGINNING-OF-THE-YEAR CASH ON HAND | NA | ||||||
| REVENUE - SKIERS | NA | ||||||
| REVENUE - SKI SCHOOL | NA | ||||||
| REVENUE - EQUIPMENT RENTAL | NA | ||||||
| REVENUE - FOOD CONCESSION | NA | ||||||
| REVENUE - OTHER | NA | ||||||
| REVENUE - POTENTIAL SUMMER | NA | ||||||
| TOTAL REVENUE | NA | ||||||
| OPERATING COSTS - SNOW MAKING | NA | ||||||
| SUMMER OPERATING COSTS | NA | ||||||
| YEARLY WINTER OPERATING COSTS | NA | ||||||
| FIXED COSTS | NA | ||||||
| TOTAL COSTS | NA | ||||||
| INCOME BEFORE INTEREST AND TAXES | NA | ||||||
| INTEREST EXPENSE | NA | ||||||
| INCOME BEFORE TAXES | NA | ||||||
| INCOME TAX EXPENSE | NA | ||||||
| NET INCOME AFTER TAXES | NA | ||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
| NET CASH POSITION (NCP) BEFORE BORROWING AND REPAYMENT OF DEBT (BEG OF YR CASH + NET INCOME) |
NA | ||||||
| ADD:BORROWING FROM BANK | NA | ||||||
| LESS: REPAYMENT TO BANK | NA | ||||||
| EQUALS: END-OF-YEAR CASH ON HAND | 4000000 | ||||||
| DEBT OWED | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| BEGINNING-OF-YEAR DEBT OWED | NA | ||||||
| ADD: BORROWING FROM BANK | NA | ||||||
| LESS: REPAYMENT TO BANK | NA | ||||||
| EQUALS: END-OF-THE-YEAR DEBT OWED | 2000000 |
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