1) Working capital Change in Op. Ass. & Op. Liab Accounts receivable-net Funds receivable and seller accounts Prepaid expenses and other current assets Other assets
Year +1 $ (139,48) ($11.010,30) $ (2.735,43) $ (1.015,48) Operating Assets
Accounts payable Accrued and other current liabilities
Funds payable and amounts due to sellers Deferred revenue Other liabilities Net cash provided by operating activities
Year +2 $ (85,39) $ (11.560,82) $ (2.803,81) $ (1.035,79)
Year +3 $ (30,67) ($12.138,85) $ (2.873,90) $ (1.056,51)
Year +4 $ (30,28) ($12.745,80) $ (2.945,76) $ (1.077,64)
Year +5 $ (30,30) ($13.383,09) $ (3.019,39) $ (1.099,19)
Year +6 $ (30,34) $ (14.052,24) $ (3.094,88) $ (1.121,17)
$ (14.900,69) $ (15.485,81) $ (16.099,93) $ (16.799,48) $ (17.531,97) $
(18.298,63)
$ 476,12 $ 484,21 $ 492,44 $ 500,82 $ 509,33 $ $ 31.379,47 $ 37.975,10 $ 45.960,95 $ 55.709,53 $ 67.699,50 $
517,99 82.549,73
$ 13.212,36 $ 14.005,10 $ 14.845,41 $ 15.736,13 $ 16.680,30 $ 17.681,12 $ 55,53 $ 55,78 $ 56,03 $ 56,28 $ 56,53 $ 56,79 $ 168,90 $ 182,40 $ 196,17 $ 210,24 $ 224,64 $ 239,38 Operating Liabilities $ 45.292,37 $ 52.702,59 $ 61.551,00 $ 72.213,00 $ 85.170,30 $ 101.045,00 Δ Working Capital $ 30.391,68 $ 37.216,78 $ 45.451,07 $ 55.413,52 $ 67.638,33 $ 82.746,36