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{"sheet":"Comments","index":0,"n_rows":19,"n_cols":10,"rows_kept":19,"cut":false,"hidden":false,"merged":[]}
[]
[]
[]
[null,"In basic NOL use waterfall concepts",null,null,null,null,null,null,null,"1. Change the NOL Used to Subtotal"]
[]
[null,null,"Begin with EBT rather than Tax"]
[]
[null,null,"Do one thing if negative (MAX(-EBT,0)"]
[null,null,"Do another thing if positive (MAX(EBT,0)"]
[]
[null,null,"Limit the use of maximum MIN(MAX(EBT,0))"]
[]
[null,"With the loss of carryforward, the concept is more complex"]
[]
[null,null,"Use the offset function to go backward "]
[]
[null,null,"Problem is that do not lose if already used NOL"]
[]
[null,null,"Create an account that tracks the amount already used"]

{"sheet":"NOL with Carryforward Period","index":1,"n_rows":51,"n_cols":20,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Tax Rate",null,null,null,0.2]
[null,"Maximum Carryforward Period before Expiration",null,null,null,3]
[]
[null,null,null,null,null,1,2,3,4,5,6,7,8,9,10,11,12,13]
[null,"Earnings Before Tax without NOL",null,null,null,{"$f":"F51","v":-200},{"$f":"G51","v":-200},-200,-200,200,200,200,200,200,200,200,200,200]
[]
["NOL Balance"]
[]
[null,"NOL Balance"]
[null,null,"Opening Balance",null,null,{"$f":"E16","v":0},{"$f":"F16","v":200},400,600,600,200,0,0,0,0,0,0,{"$f":"Q16","v":0},null,{"$f":"show_formulaR(R11)","v":"< ---- =Q16"}]
[null,null,"Less: NOL Expired",null,null,{"$f":"F29","v":0},{"$f":"G29","v":0},0,200,200,0,0,0,0,0,0,0,0,null,"< ---- =R29"]
[null,null,"NOL Sub-Total",null,null,{"$f":"F11-F12","v":0},{"$f":"G11-G12","v":200},400,400,400,200,0,0,0,0,0,0,0,null,"< ---- =R11-R12"]
[null,null,"Add: NOL Created from Negative Income",null,null,{"$f":"MAX(-F6,0)","v":200},{"$f":"MAX(-G6,0)","v":200},200,200,0,0,0,0,0,0,0,0,0,null,"< ---- =MAX(-R6,0)"]
[null,null,"Less: NOL Applied to Positive Income",null,null,{"$f":"MAX(MIN(F13,F6),0)","v":0},{"$f":"MAX(MIN(G13,G6),0)","v":0},0,0,200,200,0,0,0,0,0,{"$f":"MAX(MIN(Q13,Q6),0)","v":0},0,null,"< ---- =MAX(MIN(R13,R6),0)"]
[null,null,"Closing Balance",null,null,{"$f":"F13+F14-F15","v":200},{"$f":"G13+G14-G15","v":400},600,600,200,0,0,0,0,0,0,0,0,null,"< ---- =R13+R14-R15"]
[]
["Calculation of Expired NOL"]
[]
[null,"Calculation of Expired NOL"]
[null,null,"NOL Expired without Adjustment",null,null,{"$f":"IF(F5>$F$3,OFFSET(F14,0,-$F$3),0)","v":0},0,0,{"$f":"IF(I5>$F$3,OFFSET(I14,0,-$F$3),0)","v":200},200,200,200,0,0,0,{"$f":"IF(P5>$F$3,OFFSET(P14,0,-$F$3),0)","v":0},0,0,null,{"$f":"show_formulaR(R21)","v":"< ---- =IF(R5>$F$3,OFFSET(R14,0,-$F$3),0)"}]
[]
[null,null,"Accumulated Balance of NOL Previously Used "]
[null,null,null,"Opening Balance",null,{"$f":"E27","v":0},{"$f":"F27","v":0},{"$f":"G27","v":0},0,0,200,200,0,0,0,0,0,0,null,{"$f":"show_formulaR(R24)","v":"< ---- =Q27"}]
[null,null,null,"Add: NOL Used in Period, Not in NOL Expiration",null,{"$f":"F15","v":0},0,0,0,200,200,0,0,0,0,0,0,0,null,{"$f":"show_formulaR(R25)","v":"< ---- =R15"}]
[null,null,null,"Less: Reduction in NOL for Expiration from NOL Used (vs OB)",null,{"$f":"MIN(F24,F21)","v":0},{"$f":"MIN(G24,G21)","v":0},0,{"$f":"MIN(I24,I21)","v":0},{"$f":"MIN(J24,J21)","v":0},200,{"$f":"MIN(L24,L21)","v":200},{"$f":"MIN(M24,M21)","v":0},0,0,0,0,0,null,{"$f":"show_formulaR(R26)","v":"< ---- =MIN(R24,R21)"}]
[null,null,null,"Closing Balance",null,{"$f":"F24+F25-F26","v":0},{"$f":"G24+G25-G26","v":0},0,{"$f":"I24+I25-I26","v":0},200,200,{"$f":"L24+L25-L26","v":0},0,0,0,0,0,0,null,{"$f":"show_formulaR(R27)","v":"< ---- =R24+R25-R26"}]
[]
[null,null,null,"Expired NOL this Period Adjusted for Prior NOL Used",null,{"$f":"F21-F26","v":0},{"$f":"G21-G26","v":0},0,200,{"$f":"J21-J26","v":200},0,0,{"$f":"M21-M26","v":0},0,0,0,0,0,null,{"$f":"show_formulaR(R29)","v":"< ---- =R21-R26"}]
[]
["Final Tax Paid Calcuation"]
[null,null,"Adjusted Tax Calculation"]
[null,null,null,"Unadjusted EBT",null,{"$f":"F6","v":-200},{"$f":"G6","v":-200},-200,-200,200,200,200,200,200,200,200,200,200]
[null,null,null,"Add: NOL Created",null,{"$f":"F14","v":200},{"$f":"G14","v":200},200,200,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: NOL Used",null,{"$f":"F15","v":0},{"$f":"G15","v":0},0,0,200,200,0,0,0,0,0,0,0]
[null,null,null,"Adjusted EBT",null,{"$f":"F6+F14-F15","v":0},0,0,0,0,0,200,200,200,200,200,200,200]
[null,null,null,"Taxes",null,{"$f":"F36*$F$2","v":0},{"$f":"G36*$F$2","v":0},0,0,0,0,40,40,40,40,40,40,40]
[]
[]
[]
[]
[null,null,"Scenario Code",null,4]
[]
[]
[]
[null,null,"EBT 1",null,null,-200,80,-20,40,10,-20,400,-20,-50,10,200,50,15]
[null,null,"EBT 2",null,null,-200,80,80,80,80,80,80,80,80,80,80,80,80]
[null,null,"EBT 3",null,null,-200,-200,-200,-200,-200,-200,-200,-200,-200,-200,-200,-200,-200]
[null,null,"EBT 4",null,null,-200,-200,-200,-200,200,200,200,200,200,200,200,200,200]
[]
[null,null,{"$f":"INDEX(C46:C49,$E$42)","v":"EBT 4"},null,null,{"$f":"INDEX(F46:F49,$E$42)","v":-200},{"$f":"INDEX(G46:G49,$E$42)","v":-200},-200,-200,200,200,200,200,200,200,200,200,200]

{"sheet":"NOL in Model","index":2,"n_rows":41,"n_cols":13,"rows_kept":41,"cut":false,"hidden":false,"merged":[]}
[null,"Tax Rate",null,null,0.27500000000000002]
[]
[null,null,null,null,1,{"$f":"E3+1","v":2},3,4,5,6,7]
[null,"Book Income Statement"]
[null,null,"EBT - Book",null,-500,-300,100,200,300,400,500]
[null,null,"Tax Expense",null,{"$f":"E5*Tax_Rate","v":-137.5},{"$f":"F5*Tax_Rate","v":-82.5},27.500000000000004,55.000000000000007,82.5,110.00000000000001,137.5,null,{"$f":"show_formulaR(K6)","v":"< ---- =K5*Tax_Rate"}]
[null,null,"Net Income",null,{"$f":"E5-E6","v":-362.5},-217.5,72.5,145,217.5,290,362.5]
[]
[null,"Tax Calculation"]
[null,null,"EBT - Book",null,{"$f":"E5","v":-500},{"$f":"F5","v":-300},100,200,300,400,500]
[null,null,"Less: Added Depreciation for Tax",null,100,100,100,-100,-100,-100,0]
[null,null,"EBT - Tax",null,{"$f":"E10-E11","v":-600},{"$f":"F10-F11","v":-400},0,300,400,500,500]
[]
[null,"NOL Balance"]
[null,null,"Opening Balance",null,{"$f":"D18","v":0},{"$f":"E18","v":600},1000,1000,700,300,0]
[null,null,"Add: Tax Losses",null,{"$f":"MAX(-E12,0)","v":600},400,0,0,0,0,0,null,{"$f":"show_formulaR(K16)","v":"< ---- =MAX(-K12,0)"}]
[null,null,"Less: Used NOL",null,{"$f":"IF(E12>0,MIN(E15,E12),0)","v":0},{"$f":"IF(F12>0,MIN(F15,F12),0)","v":0},0,300,400,300,0,null,{"$f":"show_formulaR(K17)","v":"< ---- =IF(K12>0,MIN(K15,K12),0)"}]
[null,null,"Closing Balance",null,{"$f":"E15+E16-E17","v":600},1000,1000,700,300,0,0]
[]
[null,null,"Adjusted EBT",null,{"$f":"E12+E16-E17","v":0},{"$f":"F12+F16-F17","v":0},0,0,0,200,500,null,{"$f":"show_formulaR(K20)","v":"< ---- =K12+K16-K17"}]
[null,null,"Taxes Paid",null,{"$f":"E20*Tax_Rate","v":0},0,0,0,0,55.000000000000007,137.5,null,{"$f":"show_formulaR(K21)","v":"< ---- =K20*Tax_Rate"}]
[]
[null,null,"Deferred Tax",null,{"$f":"E6-E21","v":-137.5},-82.5,27.500000000000004,55.000000000000007,82.5,55.000000000000007,0,null,{"$f":"show_formulaR(K23)","v":"< ---- =K6-K21"}]
[null,null,"Accumulated Deferred Tax",null,{"$f":"D24+E23","v":-137.5},{"$f":"E24+F23","v":-220},-192.5,-137.5,-55,0,0,null,{"$f":"show_formulaR(K24)","v":"< ---- =J24+K23"}]
[]
[null,"Cash Flow"]
[null,null,"Net Income",null,{"$f":"E7","v":-362.5},-217.5,72.5,145,217.5,290,362.5]
[null,null,"Add: Deferred tax change",null,{"$f":"E23","v":-137.5},-82.5,27.500000000000004,55.000000000000007,82.5,55.000000000000007,0]
[null,null,"Cash Flow",null,{"$f":"E27+E28","v":-500},-300,100,200,300,345,362.5]
[]
[null,null,"Asset",null,{"$f":"MAX(-E24,0)","v":137.5},220,192.5,137.5,55,0,0]
[]
[null,null,"Equity",null,{"$f":"D33+E7","v":-362.5},-580,-507.5,-362.5,-145,145,507.5]
[null,null,"Borrowing",null,{"$f":"MAX(-E37,0)","v":500},800,700,500,200,0,0]
[null,null,null,null,{"$f":"E33+E34","v":137.5},220,192.5,137.5,55,145,507.5]
[]
[null,null,null,null,{"$f":"E33-E31","v":-500},-800,-700,-500,-200,145,507.5]
[null,null,"Cash Balance"]
[null,null,"Open",null,{"$f":"D41","v":0},{"$f":"E41","v":-500},-800,-700,-500,-200,145]
[null,null,"Add: Cash",null,{"$f":"E29","v":-500},-300,100,200,300,345,362.5]
[null,null,"Closing Balance",null,{"$f":"E39+E40","v":-500},-800,-700,-500,-200,145,507.5]

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