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Prepare proforma financial statements for the third year considering all information obtained about the entity
(i.e. after reading the MD&A, the most recent annual reports, press releases, etc.). The starting point for the
proforma financial statements is the unadjusted most recent year-end financial statement of the assigned
company. The proforma statements should include the balance sheet, income statement and statement of
retained earnings. Notes to the financial statements are not required. A bonus of 5 marks is available for
completing a realistic pro forma cash flow statement.
Assumptions should be explicitly stated and supported for the following inputs to the proforma statements:
a. Inflation rate
b. Growth rate
c. Interest rate
d. Capital reinvestment rate
e. Dividend payout rate
One expense item should be specified as primarily variable and one expense item should be specified as
primarily fixed

Sample Solution

includes high positions in other technology companies such as Yahoo and Hightail. As a centralized organization, Ripple has more direct control over the direction of XRP.

Lisk

Javascript is the most prominent programming language in the developer community currently. Lisk is a decentralized network that enables developers to deploy their own side chains off the Lisk Blockchain. These side chains are fully customizable which enable users to change the parameters within the blockchain.

This project is a user intended and user developed initiative. Lisk wants to make it easier for more people to become involved in creating decentralized systems.

Lisk is similar to QTUM and Ethereum in some ways, except that the customizable blockchain can be split into their own separate side chains. This saves developers legwork from designing something from scratch. Side-chains are basically decentralized databases on existing blockchain applications, like a template someone can use to start a new project.

Lisk is being developed in Berlin by a small team and co-founders Max Kordek and Olivier Beddows, who are veterans in the cryptocurrency and development world.

Litecoin

Nearly identical to Bitcoin’s design, Litecoin is a peer-to-peer transaction blockchain, designed to be used as a currency. It is unique to Bitcoin in that is able to handle more transactions at lower costs. It is intended to be used for daily, small transactions like coffee, without having the lag and high fees of bitcoin. While Bitcoin is seen as the “gold” Litecoin is intended to be the “silver”, it is a faster and lighter alternative to Bitcoin.

The Litecoin blockchain comes from a fork in the Bitcoin blockchain. It was initially launched in 2011 when founder, Charlie Lee, was still working for Google. He is a well-known cryptocurrency expert and is backed by a strong development team who appear to be achieving what they set out to do. They have recently achieved a very notable accomplishment with the first successful atomic swap. Atomic swaps allow users to, for example, exchange 1 Bitcoin to 100 Litecoins without the need of a third party or paying transaction fees.

XLM

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