percentage

change from
2021 2022 2023 Forecasted 21-22
Net product Sales 94,665 79,268 70,080 58,682 -16
Net service Sales 41,322 27,738 18,908 12,692 -33
Total net sales 135,987 107,006 88,988 71,374 -21
Operating expenses
Cost of sales 88,265 72,651 62,752 51,651 -18
Fulfillment 17,619 13,410 10,766 8,194 -24
Marketing 7,233 5,254 4,332 3,147 -27
Technology and content 16,085 12,540 9,275 7,231 -22
General and admin 2,432 1,747 1,552 1,115 -28
Other operating expense 167 171 133 136 2
Total operating expense 131,801 104,773 88,810 71,474 -21
Operating income 4,186 2,233 178 95 -47
Interest income 100 50 39 20 -50
Interest expense -484 -459 -210 -199 -5
Other income (expense) 90 -256 -118 336 -384
Total non operating income -294 -665 -289 251 126
Income (loss) before income taxes 3,892 1,568 -111 -100 -60
Provision for Income taxes -1,425 -950 -167 -111 -33
Equity method investment activity -96 -22 37 8 -77
Net income (loss) 2,371 596 -241 48 -75
 percentage
change from
21-22
-12
-32
-17

-14
-20
-18
-26
-11
-22
-15
-92
-22
-54
-54
-57
-107
-82
-268
-140
 percentage percentage
change from change from
2021 2022 2023 21-22 21-22
Current assets
Cash and cash equivalents 19,334 15,890 14,557 -17.81317886 -8.388923851
Marketable securities 6,647 3,918 6,859 -41.05611554 75.063808065
Inventories 11,461 10,243 8,299 -10.62734491 -18.9788148
Accounts Receivable 8,339 10,654 5,612 27.761122437 -47.32494838
Total current Assets 45,781 35,705 31,327 -22.00913043 -12.26158801
PP&E 29,114 21,838 16,967 -24.99141307 -22.30515615
Good Will 3,784 3,759 3,319 -0.660676533 -11.70524076
Other Assets 9,723 3,445 2,892 -64.5685488 -16.05224964
Total Assets 88,402 69,747 58,505 -21.10246375 -16.11825598
Current liabilities
Accounts payable 25,309 20,397 15,459 -19.40811569 -24.20944257
Accrued expenses 13,739 10,372 9,807 -24.50687823 -5.447358272
Unearned revenue 4,768 3,118 1,823 -34.6057047 -41.533034
Total current liabilities 43,816 33,887 28,089 -22.6606719 -17.10980612
Long Term debt 7,694 8,227 8,265 6.9274759553 0.4618937644
Other long-term liabilities 12,607 9,249 7,410 -26.63599588 -19.88323062
Stockholders’ equity
Common stock 5 5 5 0 0
Treasury stock -1,837 -1,837 -1,837 0 0
Additional paid-in capital 23,186 17,394 15,135 -24.98059174 -12.98723698
Other comprehensive loss -985 -723 -511 -26.59898477 -29.32226833
Retained earnings 4,916 2,545 1,949 -48.23026851 -23.41846758
Total stockholder equity 19,285 13,384 10,741 -30.59891107 -19.74745965
Total liabilities and equity 88,402 69,747 58,505 -21.10246375 -16.11825598
 estimated
percentage for
future 2021 2022 2023
Current assets
Cash and cash equivalents 19,334 15,890 14,557
assumed Marketable securities 6,647 3,918 6,859
all 4 Inventories 11,461 10,243 8,299
Accounts Receivable 8,339 10,654 5,612
sumed Total current Assets 45,781 35,705 31,327
PP&E 29,114 21,838 16,967
ASSUMED Good Will 3,784 3,759 3,319
ALL 3 Other Assets 9,723 3,445 2,892
sumed Total Assets 88,402 69,747 58,505
Current liabilities
Accounts payable 25,309 20,397 15,459
ASSUMED Accrued expenses 13,739 10,372 9,807
ALL 3 Unearned revenue 4,768 3,118 1,823
sumed Total current liabilities 43,816 33,887 28,089
Long Term debt 7,694 8,227 8,265
Other long-term liabilities 12,607 9,249 7,410
Stockholders’ equity
Common stock 5 5 5
Treasury stock -1,837 -1,837 -1,837
Additional paid-in capital 23,186 17,394 15,135
Other comprehensive loss -985 -723 -511
Retained earnings 4,916 2,545 1,949
Total stockholder equity 19,285 13,384 10,741
Total liabilities and equity 88,402 69,747 58,505
 percentage change percentage change
Forecasted from 21-22 from 21-22 forecasted Year

11,964 -18 -8 15,548

4,043 -41 75 6,859
7,417 -11 -19 9,332
7,170 28 -47 6,531
30,594 -22 -12 38,270
12,727 -25 -22 18,695
3,297 -1 -12 3,431
1,025 -65 -16 2,592
47,642 -21 -16 24,718

12,459 -19 -24 10,421

7,404 -25 -5 8,887
1,192 -35 -42 784
21,054 -23 -17 20,092
8,838 7 0
5,436 -27 -20

5 0 0
-1,837 0 0
11,354 -25 -13
-375 -27 -29
1,009 -48 -23
10,156 -31 -20
45,484 -21 -16
 Current Ratio = Quick Ratio = (Cash +
Current Accounts Receivables +
Assets/Current Market Securities)/Current
Liabilities Liabilities

Liquidity Ratios (2021) 1.04 0.78

Liquidity Ratios (2022) 2.06 0.90
Liquidity Ratios (2023) 1.12 0.96
Change percentage 21-22 96.99 14.77
Change percentage 22-23 -45.58 6.79

Inventory Turnover Accounts Payable to Sales

Ratio = Net Ratio = (Accounts
Sales/Inventory Payable/Net Sales) x 100

Efficiency Ratio (2021) 11.87 0.19

Efficiency Ratio (2022) 10.45 0.19
Efficiency Ratio (2023) 11.87 0.17
Change percentage 21-22 -11.95 2.42
Change percentage 22-23 13.58 -8.86
Accounts Payable
Days payable outstanding
Turnover Ratio = total
ratio = (Average Accounts
purchase(total goods
Payable/Cost of goods
sold)/average
sold) x no of days
account payable
Payable Ratio (2021) 4.14 94.50
Payable Ratio (2022) 3.47 114.81
Payable Ratio (2023) 3.91 104.28
Change percentage 21-22 -16.26 21.49
Change percentage 22-23 12.70 -9.18
Year 1
Year 2
Year 3
 Cash Ratio = (Cash +
Marketable
Securities)/Current
Liabilities

0.59
0.58
0.76
-1.42
30.02

Asset Turnover Ratio = Net

Sales/ Average Total Assets

1.72
1.67
1.39
-2.97
-16.84
Working capital turnover
ratio = net sales/average
working capital (--average
of current assets – current
liabilities)
71.89
56.57
35.20
-21.31
-37.78
Current Ratio = (Cash + Accounts
Current Receivables +
Assets/Current Market
Liabilities Securities)/Current
 (Cash +
Marketable
Securities)/Curr
 Accounts Payable
Turnover Ratio = total
purchase(total goods
sold)/average account
payable

Payable Ratio (2021) 1 4.14234454994968

Payable Ratio (2022) 2 3.4686036844178

Payable Ratio (2023) 3 3.90896921017403

Year 1 4
3.60659714173819
Year 2 5 3.48990947185036
Year 3 6 3.37322180196254

Accounts Payable Days payable outstanding

Turnover Ratio ratio
Payable Ratio (2021) 4.1 94.5
Payable Ratio (2022) 3.5 114.8
Payable Ratio (2023) 3.9 104.3
Year 1 3.6 114.3
Year 2 3.5 119.2
Year 3 3.4 124.1

Payable Ratio Forecasting

Year 3

Year 2

Year 1

Payable Ratio (2023)

Payable Ratio (2022)

Payable Ratio (2021)

-40.0 -20.0 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0

Working capital turnover ratio Days payable outstanding ratio

Accounts Payable Turnover Ratio
Days payable
Working capital turnover ratio =
outstanding ratio =
net sales/average working capital
(Average Accounts
(--average of current assets –
Payable/Cost of goods
current liabilities)
sold) x no of days

94.5034271795162 71.8937351308485
Efficiency
114.813904832693 56.5720327782183 Ratio 1
(2021)
Efficiency
104.279066802652 35.2009493670886 Ratio 2
(2022)
Efficiency
Ratio 3
114.307772561423 17.8627866616252 (2023)
119.19559237299 -0.483606220254728 Year 1 4
124.083412184558 -18.8299991021347 Year 2 5
Year 3 6

Working capital
turnover ratio
71.9
56.6
 35.2
17.9
-0.5
-18.8

sting

Efficiency
Efficiency
Efficiency
Year 1
Year 2
Year 3

80.0 100.0 120.0 140.0

yable outstanding ratio

Effic
14
12
10
8
6
4
2
0
1) 2)
202 202
( (
tio tio
Ra Ra
ncy ncy
cie cie c
Effi Effi Effi

Inventory Turno
Asset Turnover
 Accounts Payable to Asset Turnover Ratio =
Inventory Turnover Ratio = Net
Sales Ratio = (Accounts Net Sales/ Average Total
Sales/Inventory
Payable/Net Sales) x 100 Assets

11.8651950091615 0.186113378484708 1.71973265717772

10.4467441179342 0.190615479505822 1.66868352930169

11.8651950091615 0.173720052141862 1.38770545488569

11.3923780454191 0.171089643701284 1.26001334482967

11.3923780454191 0.164892980529861 1.09399974368366
11.3923780454191 0.158696317358438 0.92798614253764
 Inventory Turnover Ratio Accounts Payable to SalesAsset Turnover Ratio
11.8651950091615 0.186113378484708 1.71973265717772
10.4467441179342 0.190615479505822 1.66868352930169
11.8651950091615 0.173720052141862 1.38770545488569
11.3923780454191 0.171089643701284 1.26001334482967
11.3923780454191 0.164892980529861 1.09399974368366
11.3923780454191 0.158696317358438 0.92798614253764

Efficiency Ratio Forecasting

14
12
10
8
6
4
2
0
1) 2) 3) 1 2 3
02 02 02 ar ar ar
( 2 ( 2 ( 2 Ye Ye Ye
tio tio tio
Ra Ra Ra
ncy ncy ncy
cie cie cie
Effi Effi Effi

Inventory Turnover Ratio Accounts Payable to Sales Ratio

Asset Turnover Ratio
 Quick Ratio = (Cash +
Current Ratio = Cash Ratio = (Cash +
Accounts Receivables +
Current Marketable
Market
Assets/Current Securities)/Current
Securities)/Current
Liabilities Liabilities
Liabilities

Liquidity
Ratios 1 1.04484663136754 0.783275515793318 0.592956910717546
(2021)
Liquidity
Ratios 2 2.05822291734293 0.898928792752383 0.584530941068847
(2022)
Liquidity
Ratios 3 1.12 0.96 0.76
(2023)
Year 1 4 1.48284321820262 1.05745925372192 0.812872373211252
Year 2 5 1.52041990251885 1.14582149582526 0.896393917852479
Year 3 6 1.55799658683508 1.2341837379286 0.979915462493705
 Current Ratio Quick RatioCash Ratio
Liquidity Ratios (2021) 1.04484663136754 0.783276 0.592957
Liquidity Ratios (2022) 2.05822291734293 0.898929 0.584531
Liquidity Ratios (2023) 1.12 0.96 0.76
Year 1 1.48284321820262 1.057459 0.812872
Year 2 1.52041990251885 1.145821 0.896394
Year 3 1.55799658683508 1.234184 0.979915

Liquidity Ratio Forecasting

Year 3

Year 2

Year 1

Liquidity Ratios (2023)

Liquidity Ratios (2022)

Liquidity Ratios (2021)

0 0.5 1 1.5 2 2.5

Cash Ratio Quick Ratio Current Ratio

Cash Ratio

2 2.5