Jamie's+Part

Sales Forecast In the first year we believe we can sell approximately 120,000 units. We have evaluated the percentage of the market who have purchased, are interested, and who will purchase beer with in lime flavour. Following years will only see an increase of sales. Increasing up to 50% each year for the next 5 years.

Capital Requirements Since we already have the facilities in place to make this product, the majority of our capital expenses will be in research & development, market research, and brand development/advertising. As this product is very similar to our current ISLAND beer, only a minor amount of “tweaking” will be required to add lime flavour, source the ingredients, and put it into production. We believe that only $10.5 million is all we need to create this product.

Investment Insurance ISLAND Brewing Company has been around for many years, and our proven track record ensures at least a return on our investment. Therefore we do not foresee any risk involved in the investment of these funds into the product, as at a minimum we will recover our investment.

Repayment Plan In our first year we will be able to recover the $10.5 million spent in development of this product.

Income Sources ISLAND Brewing Company plans to use it’s vast retained earnings to fund this project.

Worst Case Scenario The product never passes quality control at the board of director level. It would then be scraped, and the entire $10.5 million wasted. Since we have the capital to fund this project, it would have very little effect on the operations on the rest of the firm.

Contingency Plans to Offset Risk Should the lime flavour not “work” with ISLAND beer, we would also consider additional flavours, should the market research allow it. However, due to the minimal cost of this project (proportionately to our net income), we do not foresee this to be an issue.

Industry Benchmarks The beer market is a rapidly changing market. This is why risks and bold new strategy’s are required. If you play it safe in this market, you simply won’t last. An example of a rapidly adopted product from Labatt, from a well-known business strategy column, “Labatt enjoyed its most successful new product launch ever with the introduction of Genuine Draft, a cold-filtered beer that grabbed a six per cent share of the Ontario market within 12 weeks of hitting Brewer's Retail shelves.” (http://www.strategyonline.ca/articles/magazine/19970623/16591.html) Although ISLAND beer cannot expect to achieve a six percent market share within weeks of launching it’s new lime flavoured product, this does offer some perspective into the profitability of new product launches.

** Jamie Robinson ** Jamie brings 20 years of experience in the beer brewing industry, and has been involved in numerous successful product launches. Prior to joining ISLAND Brewing Company in 2004, he successfully brought "Stella Artois" to the Canadian market under the Molson Brewing Company brand. He now resides as VP of Product Marketing at ISLAND, and will continue to do so throughout the ISLAND LIME launch. His skills involve market analysis and brand development. His youthful appearance and ideology keep him connected with the beer beverage market, which allows ISLAND more capitalization of the market.

Cash Flow Statement (in millions)
 * |||| ** 2010 ** ||
 * Net Income ||||  266.36 ||
 * Depreciation ||||  187.4 ||
 * Increase in Accounts Payable ||||  32.0 ||
 * Increase in Accounts Receivable ||||  -12.8 ||
 * Increase in Inventory ||||  44.1 ||
 * ** Cash from Operating Activities ** ||||  ** 454.46 ** ||
 * ||||  ||
 * Fixed asset acquisitions ||||  -10.5 ||
 * ** Cash from Investing Activities ** ||||  ** -10.5 ** ||
 * ||||  ||
 * Decrease in notes payable ||||  -18.8 ||
 * Decrease in long-term debt ||||  -200 ||   ||
 * Dividends paid |||| <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0 ||   ||
 * Increase in common stock |||| <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 25 ||   ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Cash from Financing Activities ** |||| <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** -193.8 ** ||
 * |||| <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Net Change in Cash ** |||| <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 250.16 ** ||

ISLAND Brewing Company Balance Sheet (in millions)


 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2010 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2011  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2012  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2013  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2014  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Assets ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Cash and Short Term Investments || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 134.2 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 216.2  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 377.02  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 382.19  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 339.41  ||
 * Total Receivables, Net || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 717.2 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 635.4  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 871.15  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 828.6  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 829.7  ||
 * Total Inventory || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 236.2 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 192.1  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 369.52  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 319.54  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 314.73  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Total Current Assets ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,087.6 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,043.7 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,617.69 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,530.33 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,483.84 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Property/Plant/Equipment, Total - Net || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,292.5 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,301.9  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,696.15  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,421.48  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,305.56  ||
 * Intangibles, Net || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 4,534.7 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,923.4  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 5,039.36  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 4,395.29  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 4,423.32  ||
 * Long Term Investments || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,613.6 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,418.7  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,837.1  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,018.3  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,182.1  ||
 * Note Receivable - Long Term || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 48.7 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 51.8  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 71.24  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 75.24  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 70.96  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Total Assets ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 9,577.1 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 8,739.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 12,261.54 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 11,440.64 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 12,465.78 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Liabilities and Shareholders' Equity ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Accounts Payable || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 200.3 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 150.5  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 120.7  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 100.5  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 120.2  ||
 * Notes Payable/Short Term Debt || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.06  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.43  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 14.0  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Total Current Liabilities ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 200.3 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 150.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 121.03 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 100.93 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 134.2 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Total Long Term Debt || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,412.7 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,212.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,197.6  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,102.85  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 970.6  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Total Liabilities ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,613.0 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,362.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,318.63 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,203.78 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 1,104.8 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Preferred Stock - Non Redeemable, Net || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  ||
 * Common Stock || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 882.5 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 907.3  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,071.56  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,437.05  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,698.12  ||
 * Retained Earnings (Accumulated Deficit) || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 7,081.6 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 6,469.7  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 9,871.35  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 8,799.81  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 9,662.86  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Total Equity ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 7,964.1 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 7,377.0 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 10,942.91 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 10,236.38 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 11,360.98 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">** Total Liabilities & Shareholders’ Equity ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 9,577.1 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 8,739.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 12,261.54 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 11,440.64 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ** 12,465.78 **  ||

ISLAND Brewing Company Income Statement (in millions)
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2010 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2011  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2012  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2013  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2014  ||
 * Revenue || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,032.4 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 4,774.3  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 6,190.6  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 6,844.99  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 7,506.91  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">**<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">Total Revenue ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">3,032.4 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">4,774.3 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">6,190.6 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">6,844.99 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">7,506.91 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Cost of Revenue, Total || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,726.9 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,040.8  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2,702.9  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,081.08  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 3,306.95  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">**<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">Gross Profit ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1,305.5 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">2,733.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">3,487.7 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">3,763.91 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">4,199.96 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Selling/General/Administrative Expenses, Total || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 900.8 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,333.2  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,734.4  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,705.41  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 1,632.52  ||
 * Research & Development || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 10.5 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.0  ||
 * Depreciation/Amortization || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2.0 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2.0  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 2.0  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">**<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">Operating Income (EBIT) ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">392.2 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1398.3 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1751.3 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">2056.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">2565.44 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Interest Income (Expense), Net Non-Operating || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.5 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.5  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.5  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.4  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 0.3  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">**<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">Income Before Tax ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">391.7 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1397.8 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1750.8 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">2056.1 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">2565.14 **  ||
 * || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> ||
 * Income Tax – Total (32% - 18Fed+14ON) || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 125.34 || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 447.3  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 560.26  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 657.95  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> 820.85  ||
 * <span style="line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;">**<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">Net Income ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">266.36 ** || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">950.5 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1190.54 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1398.15 **  || <span style="display: block; line-height: 13.0pt; margin-bottom: 0in; mso-layout-grid-align: none; mso-pagination: none; text-align: right; text-autospace: none;"> **<span style="color: #262626; font-family: Tahoma; font-size: 11.0pt; mso-bidi-font-family: Tahoma; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;">1744.29 **  ||

Selling price $35 Variable Cost $15 Fixed Cost $10,500,000 =525,000 units Over 5 years, we only need to sell 105,000 units per year to cash break even.
 * Cash Break Even Analysis**