For my learning , i’m trying to project future earnings of a company. After reading through some basic guidelines of projections i came up with some number crunching but i’m having a funny problem.
For whatever reason the PAT i’m projecting for 2018 and beyond (as a part of income projectino) does not seem to align with reserve and surplus (as a part of balance sheet projection)
What i understand is from PAT, some amount is used up to pay dividends (assuming they pay it out) and the remaining goes into R&S.
But according to my projection about R&S it looks like PAT is terribly lower than R&S , which can’t be the case is what i feel 
Hence i’m requesting someone to review what i’ve done and let me know if there are any issues in my calculations or if the whole thing has to be redone.
I’ve attached an excel book. it would be really helpful to understand from you guys where things might have gone wrong.
I have no formal knowledge in Accounting whatever i’ve done is purely based out of reading articles on projection and watching/understanding from youtube videos.
PS : just to be a bit safe, i’ve not mentioned which company , i’m hoping none of what i’m requesting is against the rules of this forum.
company_assessment.xlsx (42.3 KB)