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Calder Pharma Solutions

The business

A pharmaceutical wholesaler, buying medicines from manufacturers and delivering them to pharmacies and hospitals. Hundreds of billions of revenue at a gross margin either side of two percent, and a working capital cycle that releases cash as the business grows.

Two workbooks, easy and hard, built from one model. Four years of history, four years to forecast, and a balance sheet that has to close.

Inside each workbook

Instructions
What you're building, the rules, how it is marked, terms of use, disclaimer.
Test
The sheet you work on. Shaded cells are yours, blue cells are given and locked.
Solution
The finished model with live formulas.
Scoring
Cell-by-cell result plus an overall percentage.

A toggle at the top of the Test tab stays on N while you build, so you are working blind. Flip it to Y and every cell you filled turns green or red in place — no separate answer key. Values are compared, not formulas, so any construction that lands on the right number scores. The in-sheet coloring needs Excel 2010 or later; the Scoring tab works in any version.

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