Agriculture Private Equity Case Study Question
I recently interviewed for a job in a private equity firm that focuses mostly on agriculture and farmland, they assigned a case study as part of the interview process. The case study is fairly simple compared to most of the ones I've seen on here, all they asked me to do is to project an Income Statement and Cash Flow statement going forward 10 years for a one product farm and small powerpoint presentation explaining my findings.
The only problem I'm running into is that they told me not to build a balance sheet and not to include depreciation, interest, purchase of PPE, sale of PPE or any financing on my model. The way I see it this pretty much leaves my cash flow statement as Net Income every year because I'm also not supposed to forecast A/R, A/P or prepaid expenses. Is there something I'm missing or is this essentially it?
If any of you have any experience in agriculture Private equity would you mind if I PM and ask a few specific questions?