Conference – 2015 Equation (2)

Z i t = 0.7 W o r k i n g c a p i t a l i t T o t a l a s s e t s i t + 0.85 R e t a i n e d e a r n i n g s i t T o t a l a s s e s t s i t + 3.1 E a r n i n g before i n t e r e s t a n d t a x i t T a t a l a s s e t s i t + 0.4 T o t a l a s s e t s i t T o t a l l i a b i l i t i e s i t + S a l e s i t T o t a l a s s e t s i t . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGAb WaaSbaaSqaaiaadMgacaWG0baabeaakiabg2da9iaaicdacaGGUaGa aG4namaalaaabaGaam4vaiaad+gacaWGYbGaam4AaiaadMgacaWGUb Gaam4zaiaaykW7caWGJbGaamyyaiaadchacaWGPbGaamiDaiaadgga caWGSbWaaSbaaSqaaiaadMgacaWG0baabeaaaOqaaiaadsfacaWGVb GaamiDaiaadggacaWGSbGaaGPaVlaadggacaWGZbGaam4Caiaadwga caWG0bGaam4CamaaBaaaleaacaWGPbGaamiDaaqabaaaaOGaey4kaS IaaGimaiaac6cacaaI4aGaaGynamaalaaabaGaciOuaiaacwgacaWG 0bGaamyyaiaadMgacaWGUbGaamyzaiaadsgacaaMc8Uaamyzaiaadg gacaWGYbGaamOBaiaadMgacaWGUbGaam4zaiaadohadaWgaaWcbaGa amyAaiaadshaaeqaaaGcbaGaamivaiaad+gacaWG0bGaamyyaiaadY gacaaMc8UaamyyaiaadohacaWGZbGaamyzaiaadohacaWG0bGaam4C amaaBaaaleaacaWGPbGaamiDaaqabaaaaOGaey4kaSIaaG4maiaac6 cacaaIXaWaaSaaaeaacaWGfbGaamyyaiaadkhacaWGUbGaamyAaiaa d6gacaWGNbGaaGPaVlaadkgacaWGLbGaamOzaiaad+gacaWGYbGaam yzaiaaykW7ieGacaWFPbGaa8NBaiaa=rhacaWFLbGaa8NCaiaa=vga caWFZbGaa8hDaiaaykW7caWFHbGaa8NBaiaa=rgacaaMc8Uaa8hDai aa=fgacaWF4bWaaSbaaSqaaiaadMgacaWG0baabeaakiaaykW7aeaa caWGubGaamyyaiaadshacaWGHbGaamiBaiaaykW7caWGHbGaam4Cai aadohacaWGLbGaamiDaiaadohadaWgaaWcbaGaamyAaiaadshaaeqa aaaaaOqaaiabgUcaRiaaicdacaGGUaGaaGinamaalaaabaGaamivai aad+gacaWG0bGaamyyaiaadYgacaaMc8UaamyyaiaadohacaWGZbGa amyzaiaadshacaWGZbWaaSbaaSqaaiaadMgacaWG0baabeaaaOqaai aadsfacaWGVbGaamiDaiaadggacaWGSbGaaGPaVlaadYgacaWGPbGa amyyaiaadkgacaWGPbGaamiBaiaadMgacaWG0bGaamyAaiaadwgaca WGZbWaaSbaaSqaaiaadMgacaWG0baabeaaaaGccqGHRaWkdaWcaaqa aiaadofacaWGHbGaamiBaiaadwgacaWGZbWaaSbaaSqaaiaadMgaca WG0baabeaaaOqaaiaadsfacaWGVbGaamiDaiaadggacaWGSbGaaGPa VlaadggacaWGZbGaam4CaiaadwgacaWG0bGaam4CamaaBaaaleaaca WGPbGaamiDaaqabaaaaOGaaiOlaaaaaa@EDDF@