PS p iby valuation oF SHOnES an ~ Mbocuch'on 3 valuabion Recenter! hor > sttasorls x where there is no manked polee os tn he at OF Propenib» Com pany . . it ; ! * lene for special measons the mankel- PCC cloes nol ode We Bue O70 Catenensies) . mbensic value of the shore * The pzoble does not Avrive FP the sha on Ihe stock exchay of shanes may be abnie by an 7S OIC gua bed ancl selfens, TYPES of ceonpantes - Then€ ane boo Lypes of companies 1) shares of public limited Companies WW Shanes of Patoate (leaked companies Dshanes of public tnitech Compante s Shanes of public Companies axe freely trans feaable hente these Valuation is absolute and self; a ecchange susualy Senve WLS these may sop hala! bansection ‘n nespeck o£ small gees iin respect of large fot fanthun to alt tie shares ore nol quoted ta the stocts exchenge therefore valuation I$ neecfer bn shanes of brains Fenn g tom pe PON bo ano lyen pe ) shanes of prvate limited companies shaxts of private Weaibtel tom ponyes Ore Hide free hanst-enable and Pevchosed solol fy Public even through ney One nol Weely Nansterchle ane thet n ae ‘5 neguintd when Hye private Company is py be -" 71 puychased Muy then 0 attess Me amount of aluetne Hunrbor eh fhe poarvaee Comyn ny he vatuller of | ghanes tS Iv be late ty need fox valualjot of shanes« whe stock exchange pouer ofa shane may rol wags be valuettect by the’ tivtanvial positing of Mie ooypony because shock xchange Pryce ox jallucnird hy supply aud oltmiarid hank makes baxalon , Polllital in tlacndt \ intennialronab polead si bualias elel- heute Ihe shanes public linatted componies andl bul also Me’ Shares of palvate Company and unguolil Shanes oh a limiked public com ponies and valualion Shares bp porth ast Company purpose, , > when shanes of ungucled company ptvele shold be purchasecl by sold. ‘ id whee Controlling no-at Shanes ext purthosed by anchhen COMPANIES, > sy 4 ot s ‘when emalgamahin on stearshuchoo one purchose 4y wtlhen tomponys, Vaera yh : : YD tor stlerent of disenting shinee (lon schema, ow toa assissment of wealth lar;capllar galas lar ele, Viton sachining loon -by \Mnancral ‘ashilibions oa tae Stcuntly of shanes, Noy it) Fon Convension 0 _ulty shoes 7) Wavaneing beans. ov the sccunity of shaxtes Melbeds of valua Lign of Shanes * the methocls of valuation of shasies depends on the PerMose of vatualion and faclons attec bing Me vatue of shores the following withh of the fm pontant mthhocls oF vatualion of shanes Ls Nee msser Mmethodf nist. Bantriag [inbonse value| Bxeate up candi cewe'ed oa Pema. fha -iccade. rr] . Meas fer a ne vonslu t prchenence. shots of de berths intoBars. yield melhor \ 5 ee vatue mello! q i Fe Z Meélheds of valuation of cana ts P “Ya ith Folia value y — iad method “eae Net asset methad wage : 7 se Y (oD) mankel value m4 | an to Mei vet y ov : . a banking « a % Anbonic value meted own eyed ‘ku on) . ae 7 Bnecikup value melbadl Dividend ‘ed : . (oa) a: Hee oe FEAL uolue metaod Str ; : - . ey as Networl eaelhod @) . Gully method D Net asses, ratthed [ Inbonstg value methad s - ; This waethod measunes the value OF the inet oF he Company agafast each, Shere, since the Valuation Made oy cts OF he Company” . vinden yf, wen as OSSEE “basis ‘oy Asser tanking method A " | ORE Ocletect up on the assets oF th Corapavny OF pranfel wy ; © Wabitityag -.° omPo se Prherence op C5 axe aie induded eee Se sa "ie coted ed", S. nek asses 1 BE rum fe Palence £5 ir5 os am "el assers ee shares find the valued Follows) Formulas value rq 42 0 Pre ssect by Hes Habilites ’ ; fis Net ASSeLS = 4, OF assets Value of shaneaptorma for ne OSS method of valuation of shones a Poabiculons : Amount amount “assets of market value? Good oft “eX Fixed assets xX¥ tnvestment. KN Cumment ASSES pa, ) XXX. j Total assets eae & excteanat liabilities oo xxx IL Oebenluxes X “xX rat ferences Shanes capital (arvryean oF YK hn’ ads ‘ x + Nett ASSEES quailable fox) eau xXx, oy LEK thon ‘ LxKx*Y, yield method /eazning Capactly meltiod 2 yield is the “effechve nate of athe! on the investment macle in the shaaes by the investers TE 15 eluny expnessedl in tenms of pententage since the . valuation + shanes ismacle on bre basis ‘oF yield method on monket value melhocl rrclesr Unis wtcthool thé fulune watnlainable port for eguity chided, §s estimaled by. seFeneine a’ Part pea formance this 1s ackustecls by estienaling “ron Hecunaing hacomes « ctedicating tacome farcy mas ket alloca Hort fin \neserves: and 'pxtbenen ce ob\rolend. the adlrast proh't is capitodized at the nowal poke nate of fa Singelor business, : wes ‘ : _ Paokit available for cquily Expected Rate of nelurns = rd too “pal up eaulty Caprte Yilel vatue pen shore: expectem mele of rem ronmal nate of veluwn The yleld method 15 Cconsien bellen than net wheats. xege ee ek € accountants axhe do Hop 4 iy Poppe $ valu 07 Yield value hy Oe a valut of Sshozes Maty bowevex “ees Vays bazey whyeh i's He ovena C of nel ag! whieh provides a belle i ng fh hao ee pany‘, ale sa “4G j Cc) Good. exiy Nvetstp, enks 14S: 600 Slock - (225000) ¢ unds 4 eb fom, ; MSiboo] Cash gy bonis. Senay tect tysis |! 50,009 lel pest eh. . | onze, 590% bang 2tor009) NS" Ps — s 7 -S5,606 , oi /avestnney, be it a's pn Lag BS «196 3, 30,000 © Obed GE v3, C0375 pe fiage OL pop fox i , a e “abense u 998 Q 500FIP = 60000 cutcalation of He good will on the losis of APM Good will - Ap Alo- of. yean’s pur chase = 60 000% 3 Food vill = 1134000 # @lialakion the nel Assets : L assets = total Assebs — external flab; [/b'es os [Link] Amr Amy assets ¢ Ga0d will 1130000 investetn ts | 3,30:009 Slock 6.60 000 Debtons: 31901006 (ash at bank 60000 Tokal ssets (6,20,000 Ices) external Labs fitles Gy. deben burs creclilors ot | 0,600 wonke> Saving bane Ale | 3,00:000 Neé assets auvarlable fon és] °° > “| 420.000 ® catculation of the in henste value per each. shane Tulvensi'c volue Pernshose = nlet-ossets available ton : Cully Shane -holden eee ee NOvor. Cguély Shanes =_4,207 000 peaeOOD 60,008 “Inbenste. volute en shane “120 jon Br Dec-2012 the balance sheet of x Livai'tedf Cepany ob'’sclosed the iolbioing position 41501000] 900000 | 2010000 | \ Liabilities = Asseps 0 [oe ‘Ssued Capr'ted 440,000 fixced “assets J 509000 |Seuheay Shanes of x [0H Ooo nen E ASSEES | 2,00:000 | © each good volt! 40.000 leese. =A AmeSain eres Aarne SaTTEE 1100 1000, 130,000 : [er tee y | GV. debentures kundoy creditors MOsseks were 7, fe St dec 2012, tne Feed ded My ate ate 3, nee ape food: will 9 ot 40,000." « i | Deompute the value of tht company aa ‘hy, | 4ssels meHrod, ses { asste. a Catal abions oF Ne nek assets pai i eta 1 : SSE LS». Fisced assets Cusine pf assets ocd pti: Tok 4 less externas PB ee thea ¥ allay Of The TRAE Value Pen, each, shave Tatensit value perishane -'y NeF assess available tor , = eGui't sane Holdens oo wm °F eoeatg Shanes “Go.000 Inbvenss'¢ vpsue Penshese, 3) the Following 15 Lhe. pialanca ‘shee Lhol 31-dec 2920 Z Ors f Of: Se tampa l Assets ; Ho00, tor pasfenence |y po .en Sunding a8se65 ab book 09 1065) Shanes of F loo each 60/000 epattry Shones C0010 Lm FF LO eathgills payelt 201000 B cl fons 1501000 121001000 : 12100000) WD the. morkel value of 607 of assets is estimated fo be [Link] rione than the kool value yak iol he Plemaiaing HOY ar 104. less Shan the “hols value these is “an un seconded Wabslity of jz tooo find the value of each equity shone, riilcalakon of Ihe Alek Asseks f sseks > Total Assets ~ extennal Liokil.'ties tebrht Panktculosis © —s- : per os 60%. of asels 12100009 55 ie 401 oF Assets I wWo000x Uo x : Too” 108 a THEOL Assies * (les) extemal nobtts'tyes ' - BINS Bay ble . (slecli'tp ns un'neconded hobilety . Nek assets © Plo. prefenence shane capita 4,32,600 eb Mssets Auat'adce Fon quclly shane -Mollens Nook, Cgui'ly shanes - = 6501000 60,000 inwensi'c value penshase > 10-93 ) Nthe batance ‘sheet of sflven lk os on 30-3-209° - | %85 as Allowing Iey— | bobs Hes, Assels | shane Capitol 4000 Shanes} 14100/000] fand § building s | of top Cath plank & machine | genenat ESCAVE paibcals | profit 5 loss Ale ehtons + | sunday cneditons Bank balance | sucome tox stock prilimennsy exp ) the cxpent value ane valued "balan Eudoaps Gordeolt & 3,201000 and plant § machineny F1,400000 | 2) the flat olebfons ik is Fourel, Wit deblors of #1600 bad debts. - i _D the poohit of the company ant 2oll- velop 12012 - "01000 y old ~ 2,121000 Dthe company hollows the opaactice . banshexing M57, “on pa £ general sesenue 5) similon type of companies fann at ‘Jo, of the value. of Hhtin shots. Alerkotn ue value of ae vedes tnlvensi¢ valiee ad Yidd volue wietaool , a a2 50) JAW # coltulatign of ‘he Net Assels > ~ NEF ASSEES < TotOl, ASSChS - ecteanor bilieies Foatiouloas : | Assers . : tond 4 balling : 4 901000 Pon ¢ enochineny Bee 214101000, | ed ust laa | polenbs : +10 1000 Shock 961000 + (176000 -t6000') «| 1601000 Zon balance” eels hot 000 - 5 ee FY extemad tolsttitis ra pier a £256,000 OUISiOn for. 20 000] 3,76 1000 Nef assets oviable for SH 110614 000 4OP ONE EIONOIN SVE OAK ET PC SHANE ‘¢ catculo ee sensi vatue : ‘Al Ossels avorlable CoH Py —— - NO ‘of-. equity “shames = + 101641000 ‘ “1000” mivensie value pea Shoarie 2266 3 yee mohod raiculabon oF the yleld value pershant yiett value = expected Rale of ae bay y Pold up “honmol ate of nelyn value pe shone polation of the ERR f epRc profit avarlable Pex Sequi (6) otviolenel ie Paid up equity Capital. - # lcutakiion of the avenage paeie a _ doll prof - t60,000, _ nea 2002 = ‘P10 fie — N80 (000 ee cons . 2013 prottt = Bild) : 2 ee . Folal ‘profit’ “$1 $3,000" an ee a Oless Bad oebts © 161000 , a 5 Nz, LS3G6000 ny ‘ = : 5 AP = 178666 | in te a . Cosy. prone b Gk 078666 X35.) 466 E. (34050 —> Nee AP ERR = 134000 a4 4 00000 Koo che yar ERR = 22,5, sy . \ field VOU? 3361S y iog (0 YUP? 3305 . : Fotekation Of ine rain volue per shore . fata volue penshane = Inlensic. vadere + yietd vedue 2 = 266 4355" ro ners ‘ on = 60) pues ewe * |fain value penshane- 200+5|,.Wrss) the balancl sicet cf MMonavalti KA as. 1M art mach 1998 was os unden Ihe bolance shay OL jay Jide 5 2 | nssets 2am egy Shanes oF F100 |>,00000 | forol 4 buildings , heed general nesenve so Fovrsloncrh al Cos) ig t 5,000 ce. sa protit § lass Ale ce Cotarket value 4152) “Si sunday entolilors : 981000 | nob tons Proviston for daxaliont [20000 | sryeia Provident hand 7500 | cash al bank 1541500 a Dland $ burldings, rack m'neny| ane valued at aig and £5,000 nespectivel . | . " of the bhat deblons’ =2500 ane bal Doord wit! rs to be balen at 25000 | ie -) the noamat nate of olduiclent eleclaucd by such by of companies 18 157, on the paiol up. capitol, D he Avenage nate ot diviclent declaned and patd by this Company f5 I~ on paiol Capital, — . calculate the fatn value Of tye Cacecly shoes of the Corapouny . . . xccdabion of the anbensic wnlue. of each shone- Inbensic values Alt Asseh om No-of -eguily shanes Ath ASSOS — rota assebs — external Wabs|i dies i ponticalar x aa | assets” land 5 building 133,500 | | machinen $s, 000 : G00c will . 251000 Investmenb 3500" a stocls : : 3 Debtons (50000 ~ 2500) ils Be ° fashat banks 251000 Jotal nssets | _ I3.65p00 less Petkemat babiitttes | Cred W715 U4) 000 Provision Fon taxation 201006 Provident funal 117.600 | #2 500 AL puets avialable fon ey 2 5825500 J= 21921500 2000 [an norensic vole per pest Parry olcutation 4 Ol gid volue = ae x “ed oe value per those . . xi00 [yretet valuen20 ) pcaleatahion oF, We Talay value pes shasze m © faty value pen shene-Galensic rylelel value 2 14) 2F4120 € a a « = 26le25-~ ay Fain value pen shane = 30.625) . 8) the balance “sheet of pushpa company, tid as on : manth 3I- 2019 Was as undex. Moboil ties = assees x 4000 eguily shares | 14,90 ,000 land § buildings. 350.000 of Fi cach . machinen 120/000 Genenal nesemve 01000 |Cnvestment at cost | 40,000 proht § loss Ale | So:000 (monkee value ¥ 0000) caechilonS 40,000 Debhas! 1,00 .000 : p Sbocl4. wT $0,000 provision fo Faxakon 401000 | cashat lank. od 0001 cash m- hal | S000 6.301000 . [6301000 land 4 buildling § machinery ne valued ab & 2101000 4 451000 ( the tatol olebons = S000, are » bad, Goce wall 1s tp be Laken ak $1000 | ) the “normal nate of dividend aleclaaed by suc h type of companies 3. 1S on. paiol uP capitol, ) the avenage nate of dlvideriel oleclaxcol $ pow upby this Company '8 207. of (65 PRIX Ur Cap} you ase neguined to calealle foin value "Oh “Tobeut assets Tnbensi value = “nto ob equity ‘Shanes Net _nssets = foal assets - cxkernat (abilities Panticulans | = uf = ASSES ¢ ' \ lanel s, buiBLing 249/000 | Machinen 951000 ' q Food eyill £0000 aq Investment at cost Dehlons (00; 009 = Sb00) Stock (ash at bank 601006 @S1000 801000. 5000 i } . i ft) (ash Wy ‘havid pas Total wssebs Cexterral bintiities : eeaued Creclifons 90:000 ‘ Provision fon, foxation 11301000 $100; P2100'000 | 41000... ~ : Tnlvensic value. “per share Phas 3 ¥ ealcudation of the yleldt value» yield value= "ERR* x NER * PAUP value pe, Shooe (a ee ae te w100 ied watue © 133.33 * catuation of me FazN value Per share Fain value pea shane = Wheat alee | dad ia \ 2 ist iad laatt sus >» unlede per shareBee 7) ORIOL po Gadaviee SOE VEE YANK BAD \Compod fio . fon ype NEES year realing ai" olee 2019 4 BD fiadylikies. : = Assets z ity shane capital at} g.a0.000! good colt! 1100 00t io! cach : othen fixeol assets |12,00,00¢ ve on surples 1,50 000 Cumnent assets 2100 ,00¢ » deberilanes 21001000 : A of Phare litons 2,00,000 : yoursion fox taxalion |r sooo) 9)» 153001000, ' 15,00,0€ = bow athe above date the. inclependtent value oF Fooduaih on olen fixed assets wene made ak 1,80000 and 15,00 1000 >1espechively, Se DQeuxrcnt assets tr dlioleol olebbxs of F Looe out of whith 17. of bad date.” vo the net pots! of. bie. donypany ton the. past Byeans were ab ZX 1120/0001 (40,000 wl 13%, 500 of which 20%, was placed fo nesenve ea Rw nonmal nate of elu at lo7. : : 5 leulabe Mae velue of shanes by net assels metaod, yell value metho, Fatn volue sacthrool. ; *colculation “ot the vlek Assels Net Assets = Tolal Mssets ~ exlennal Moby likes > fanticwlans = Z Assets ¢ ' : = = Goodl will 1, 501000 bthen tized’ assets 15 00 1000 Cunnent assets : 1001000 oebtons (1,00, 00d% £5 £5000 (1100 000 = 15000.) oer) : ‘ is 18,335,000 < sé E) Tool AS © externas liabilitres 10% ceben bines 21001000 cnedi'tons 38 aes PIOVI Slo Fon taxalion ee 12/85,000] + Net assets avatlable tox \ we tyRo ulelel value = 6 ecteof noite of ne buvy pa ‘ s Monroe geste oF mela Fealedabion of epp-< on L ERR: tit available ton equily lividlend Patol up Cqutly Cap ted genre « 4 t, * caleulation’ of the Auenage:’ prone 1,20 000 {140,000 52,500» : Toto Pubit” nynigoo 5 AP. oo. i are : ‘ : [Lee — S280 3 : VS71505 : _15ic00 deh 207 op @ ! = {1898 Ke) = 2400) “= Biko ; eg) “a += 132S00- ( @) 207, Gr 2 26,500 AP Siagaae ERR» '06006 7 1V ps e!3ags 2 To X lo jt FRB A Ol Cala bly oe inbensic Vodue ¥ aleafation of the 4 anbensic values Net assets availa, y No: of. Put rs = 121851000 tubensic value pen Shane = Ubo6s , ¥ yell methad fatatahbn of the yerld value per ShareFORE FO DIVERS TAIVENMNE VOLUN + YIU value : gg tae nn al # 16-96 4 [ir fE-06 4 [3.08 729-3) z Fain value pen shane - yy. 65 g) the following. is She \ batanceshect of then} cmpant [id thas on 31-12-2003 . fiabilibies | assets Te co eguily shone of |¢,00,000]. cash Letance 50000 200 cach | Sunday Gables wired - 300167. debentures |S.007000}: -- -ctrerg - 120000 4 x 100 each : “gnves tment 001000 general meseave #1001000} ayn - building 4101000 protic /toss alc 201000 furnihun€ Coes By 00 6006 30,000 © Be urda caedi bors 1.000 plank % ‘machinery | bine Trabilities | ; : geod will 12,36) 000 Pall the —pesels where ~ incterpenclenlly valued Qé 140000 krn€ Company eaaned! Net prwht fox the lost Syxs 3° flows 801000 ¢ $4000 142.000 1 ¥8000 and” 96.000 TE was clecided [Link] assned @ is. of the out gener 1ese1Ve this propiion, toas consicler 7 in the fndushy mM whit He Company engaged ond gota investment aeluwn by laken of tov. Hoe cel . # Rnd out the, value of egutly shares oF the company unden 3 methods. ; 5 + calculation of the net assets prkce 4 xeasorable Net assets = iptal assets~ external UVabilities Panticulons : £ | = Asse FS is j All asses mealized * S 14; 00-600 © exbernol Lab} b'tres af i] olebenbanes $1001000y Dd ae olhen Uabli bres nek assels anlvensic value: 460,000 3 000 ‘ . gnlvensic Value: 296-6 aad of ihe ytd value per. enuilty shone | yeild value = er x paid op et epully shane ERR = pro he avallable perc uly divided y | pord up of eqully capital “foo | + calialaton of phe Average proklt : puerage prone = robal_prol-E : NO oh. Od > 2 _yityo1000"_ = %% 1000 Lap nS Aveaa fe. paghlr = 8¢:000 oe) Is general, R ~_3202 ne zugoo net AYP 7 uigo° x 106 ‘ 6,00/000 ERR = 12046 yield voles 12-46 206 ; 10 2 Ege yad vsue = 249-2 + cosculation of the fatn Valut. - join value: Talvenske valuct yled wolue: ae ee are mE 2 2 ats ,: fllaoing bodance sheet of Ben Company Ikd as on 31- man - 2019 iobsLebies z Assebs oa 5 equity Shanes F lion. | > fixed asses (220000 | to cach bully’ paicl i cutnent assets 110,000 Majong t coo epuily shores Ff | ¢o,999 eed op a0 Wo ach FS per eachpeid Fiecoling ‘assets 510 roo pully shares of 10 cach du foo shaneu 5° i | reserves 501000 | profit loss Ale 501000 credilons 10/000 | 3.40.00 eee __ [340,000 rhe nowmal average. profit of the: company Cater tox) etl be maintained gt 46.000 : : \ he vonmal nate of nelum 27. _ i 5 Jcalcwlate the value’ of each lype oF epuily shanes by the assels packing method ancl yitld basis wuethodl. calculation of the iabensic value por shoal t Net assets Soro anbensic vale No-oe: cally ‘sIents net gsstlS s7otal ASELS- exkeaiial heblikes pAhcWwlans Assebs | : 7 Bxecl asseks ee cumnen asseks 1119 1000 How Hing Assets ; 5/000 » Toad ASSEB 1335; 000 tess- eckenncd Llabi l'Hes erech'boas *"ya.000 NOE Asse S | Inbenstc value per Shane < 372500? 1 " 30,000yy anbensie vedic & NO oS i sefhiod ayledcl value ™ . M Jue ’ yeid wulue = oer poiel up un ae pooktt avarlable Too pully: dividend ioe : poid up capil as = 46,000 730000 ERR =20 1 [0 pea shares exo : 2- 8 per shane gens 220. ¢100 215 /- 3-5 per shone =< 20xs clas Nine folbwing summneized balance Sheet of Shaki ty any Id as‘on 318t dec 2020 c 4 Woklihies YL assets » lee shore (apltod 10,000 57; |ioongro| . Fixecl assets. {38.0% preterence Shane of Z 100 Anvestmenk * Hope 2008 equity Shanes oF # 10420,00hc Stock 15,429 Tenerat reserve fiswowod lebtons <7 Asatg PORES [oss ale Credl'[Link] [obilkies for exp SY. debentunes Cash § Lank batonce |228¢0 7 }64.00.001 ns, Fidcedl assets are t Post" of Shanes valua bia Ce ; y . 7 8Y ton, investment ane by he nevalucla ved 2 2190 —_ eben, 7 Wwidert. gi, CC clue Ton 9 months and pone 71 2020's clue. 0 oF the hat ty shane. “Mensy¢ v FrUren Sit whup Nee WSsebks a " ‘ Nb of. oot : UE pceste -, CPui'ay pp,Bobilibes) pa nefenence $.001000 P riottlas FOX ca.a0ieoor $7) 9.361000 pi ‘tos S aastersk year Capi tol (io, 00,000 x5 | > Alet ASSCES gs bails balance Totes Assets 38.00,000 38 10000 2,451,000 251000 110 ,00.000 —— By2,006 '0;90,000 542,000 12,147,100 212% 1000 65,!4¢1100 1) 5000 0 22.86 20 Lj 123/100 Bluse vosLe par shaxe 2 [Enlrens. jis allowing is Ihe balance sheet oh ray clhont coraparny ltd $45 3l-dec- 2007 , ° ——_liabilhes a Asses Lz Faas capitate, @4! ¢,c00 | ‘land ¥ butlel ings 30/000 ty shones of cach plant hi te 15,0000! yortac wien § ‘| 30,000 Menol nestmve , hace mask S000 fox mesemve < {0,000 Sock 2,000 “nk men's saving Alc |#500 clebtons 20,000 tdbons 24,500 | tashat bank. 157000 PULL 5, loss Ale J000 prebimenanyg erp 3000 Dthe 7 “trg0106 | a land 4 building has been velued at bs,'000 + ‘he plant § machineny worth % 25,000 yg oti og aS hn: Lhe6 COAALES saohit of Hed comysany fon bet 3 Yen, i has follows 22,000, 23,000 an 26 L000 5 t U . Companiy prackree b brass Fer 25%. of ge ‘ t shane siailan e “te, out Ye value © Pony Hid of tov, oO” the mankel value OF they 4, wilt may be bakecr bo. he vabee [Link] Todo valeer ef, tach eg tewlablon of the inlvernsic value Tokal ASseks aha Noval. tgulty S AHCI" Jet ASsEhS = Totod assels ~ wtFeanal “Dabilihies + _Pankiculons i l F sets! — Qood wilt ’ = land S buildin plant § mashites Tnade manix stock olebtons (0,000 -.2000)).. - Cash at bank -Tokat ~ Assebs (less exteanat Hablitties \ wearin \ Ne: ot “10 1009 "Me uly shares Fulensre valet ¢ = 4s00 241500 q men's saving Ble enedi bons Neb ASseES Anbensi'c. value = 148,000 10000 value per shane = (hg P Fntrensitc yelld wnacthod Chatation of Mee fed volue pen shame. ‘ > Oo BR ; 4idd value= EEE x paldup value pen shart talatakion. of erp ; ‘FOR ee eee rere en fo IEE paiol up eqgui'ly Capita n of the Avexcge prolil. = 2210001 23,000 12 6,000 K100 yp cat catalior Average profet = ooo = 11,000 3, = 23664 (287 0F GR ~ SqIF IS —— : _ PASO ee ERRe I7FSO-®F yy 99 50,000)..3° OY nha a | ERR 2 35-500 . : i greta value 2 35-5005 x 5 TO ee he aranin’ ;

207. of franshea TO&R— 20000 10000025.) $0000. +) 60000 ( br. of prefectense sae. b — $6,000 [Link] 78, = *) ack AP 20,006 “ERR 2_20100° x foo; goood [aeetey yield value = @RR_ x paid up value NPR ¢ tetwlation of he Fain valde ° ) fain value= Snbrensit welne f¥ z lo0t20 — == froin valu 2 69 : ' \ ; 19 the fllowing” iaforenation cakalate dhe value of et share » xipp [id has 20,000 equity sheaes of 210 tach pavlidh Capital 2,001000 Poe igsh pete rence shoxcs OF ¥ W cath Rally power pany bes prackise to baustening| 57 of Mee prolit general mesemve guvery Yeon. oh Mee expected prott be fone fax 3.00.00 thal we male , qicome tax at G07. mmat nate of alivilent’ 157. . ae 0 \d 2000 equily shames of &10¢ nel Assets of 300.000 an gach fully paid you ae nequined fo col culate Tubenste » yeild value Foin Tyatue mellrocl of the Znlven sie value nwvensic value > _ Nek nssebs ne No of « Cpally shancs EY S falculakron of the yield volut pen shexe ! yield values ERP y pai value wep © PO d up eres prolrt available fom ¢ ull: dividentt y top poll up copital a rr = 150/000 sox: ?acome Tax 1 501000 paotit 4 rhea ¢ax ows. of Tyanstey bGR 2? 1500 | © 57% of prererenice shanes (0/0000 (20100,000 55 ) 27500 ~> Net AP ERR 2 24500 K/oo 2100000 ERR =13-4S eld value - ERP \ yall y IRR” paid up13-73 yj0e Ss [yidal vatue = 916) calexlaion of dhe Fain value method Fain vodue= Inbensic velue + yerld value a = 1SOF9+16 2 [fola value= 39.52)