__________________________	C&S Associates
BUSINESS VALUATION REPORT	Birmingham, Alabama
Stockholders' Equity & Asset Values	Valuation Date:_________

DATA	Form 1120	__________	__________	__________
Sales	1c	$___________	$___________	$___________
Interest Expense	18	$___________	$___________	$___________
Depreciation Expense	20a	$___________	$___________	$___________
Taxable Income	28	$___________	$___________	$___________
	Sch. L
Building & Other Depreciable Assets- BODA	10a(c)	$___________	n/a	n/a
Less Accum. Depreciation	10b(c)	$___________	n/a	n/a
All Interest Bearing Liabilities	17, 19-21 (d)	$___________	n/a	n/a
Book Value Stockholder's Equity	22b-27 (d)	$___________	n/a	n/a
ADJUSTMENTS & CALCULATIONS
One Time Expenses / (Income)	From Below	$___________	$___________	$___________
Discretionary Expenses	From Below	$___________	$___________	$___________
Pro Forma IBIT	Wt. Avg. $___________	____________ $___________	____________ $___________	____________ $___________
Pro Forma IBIT Cash Flow	$___________	$___________	$___________	$___________
Total Capital - FY 20__		$___________	n/a	n/a
VALUATION METHODS	Allocation Percentages	Lower Variables Resulting Values	Pr. Rate ___%	Higher Variables Resulting Values
1. IBIT ROI%	_______	____________ $___________		____________ $___________
2. Cash Flow Justification	_______	____________ $___________	Years ____	____________ $___________
3. Excess Income	_______	$____________		$____________
4. Multiplier of Book	_______	____________ $___________		____________ $___________
5. Add Back of Acc. Dep.	_______	____________ $___________		____________ $___________
RECONCILIATION	100%	Allocated Lower Value	Selected Value _______	Allocated Higher Value
Allocated Total of Five Methods		$___________	$___________	$___________
Less - All Interest Bearing Liabilities		($___________)	($___________)	($___________)
Market Value - Stockholder's Equity		$___________	$___________	$___________
Market Value - Fixed Assets & Goodwill		$___________	$___________	$___________
Date Prepared: __________
Disclaimer: The Business Valuation information presented in this online BUSINESS VALUATION Calculator is considered as introductory material only. Use of this material is at your own risk. No warranty or guaranty of any kind is made regarding the accuracy or completeness of the data and the results. No opinion is expressed by C&S Associates, Birmingham, Alabama, its partners or employees regarding the Market Values calculated from this material.
DETAILED WORKSHEET (Enter Income Items as negative numbers.)
One Time Expenses / (Income) Describe Adjustment Briefly.
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
Total - Copy to One Time Expense Line Above		$__________	$__________	$__________
Discretionary Expenses Describe Adjustment Briefly.
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
______________________________		$__________	$__________	$__________
Total - Copy to Discretionary Exp. Line Above		$__________	$__________	$__________