| We have invested in the company | 1.000.000 | 500.000 | 200.000 |
| Loan with 6% interest | — | 500.000 | 500.000 |
| Bond issue with 8% interest | — | — | 300.000 |
| Company capital | 1.000.000 | 1.000.000 | 1.000.000 |
| Operating profit | 120.000 | 120.000 | 120.000 |
| Interest expenses | — | 30.000 | 54.000 |
| Net profit | 120.000 | 90.000 | 66.000 |
| Return on our investment | 12%* | 18% | 33% |
| Buyer’s expected return 12% | 1.000.000 | 750.000** | 550.000 |
| Profit from selling the company | 0 | 250.000*** | 350.000 |
Notes:
** (120.000/1.000.000)
** (90.000*100)/12 or 750.000*18%=90.000
*** 750.000-500.000 that is, we subtract the invested amount from the sale price.
