{ Fundamentals of Financial Modeling
  Net Income SubModel

  Version 3.0 - Calculate Interest Income and Expense based on short term Investment / Short term debt

}
'Column Control' = 'Last History Column' For c1
'Column Control' = 'Last History Column' COL 1 + 1.0 for c2  { This is the first projected column }
'Column Control' = LastColumn() for c3  { Last column in the matrix }

!Define For_History_Columns For c1 - Ind1
!Define For_Projected_Columns For Ind2 - Ind3

'Last History Column'

{ Assume Total Sales, Operating Income is available from another model }
'Total Sales'
'Operating Income'
'Short Term Investment'
'Short Term Debt'

{ Interest Income and Expense are calculated based on Last Year's investment or debt balance..}

'Int Rate (%) - Short Term Investment'
'Int Rate (%) - Short Term Debt'

'Interest Income' = 'Int Rate (%) - Short Term Investment' * ('Short Term Investment' LAG 1) / 100.0 For_Projected_Columns
'Interest Expense' = 'Int Rate (%) - Short Term Debt' * ('Short Term Debt' LAG 1) / 100.0 For_Projected_Columns

'Pretax Income' = 'Operating Income' + 'Interest Income' - 'Interest Expense'

'Loss Carry-Forward'='Pretax Income' Losscf 15.0
'Taxable Income'=0.0

ByColumn
If 'Pretax Income' GT 0.0 THEN
     'Taxable Income'='Pretax Income' - 'Loss Carry-Forward'
EndByColumn

 
'Tax Rate (%)'
'Income Taxes' = 'Taxable Income' * 'Tax Rate (%)' /100.0 For_Projected_Columns
'Net Income After Tax' = 'Pretax Income' - 'Income Taxes'
'ROS' = 'Net Income After Tax' % 'Total Sales'