assignment 4
INCOME STATEMENT
| Income Statements | 2019-2020 | |||||||||||||
| October | November | December | January | February | March | April | May | June | July | August | September | TOTAL | ||
| INCOME | ||||||||||||||
| Gross Sales | $96,000 | $97,920 | $99,878 | $101,876 | $103,913 | $105,992 | $108,112 | $110,274 | $112,479 | $114,729 | $117,023 | $119,364 | $1,287,561 | |
| (Commissions) | $7,200 | $7,344 | $7,491 | $7,641 | $7,794 | $7,949 | $8,108 | $8,271 | $8,436 | $8,605 | $8,777 | $8,952 | $96,567 | |
| (Returns and allowances) | $2,880 | $2,938 | $2,996 | $3,056 | $3,117 | $3,180 | $3,243 | $3,308 | $3,374 | $3,442 | $3,511 | $3,581 | $38,627 | |
| Net Sales | $85,920 | $87,638 | $89,391 | $91,179 | $93,003 | $94,863 | $96,760 | $98,695 | $100,669 | $102,682 | $104,736 | $106,831 | $1,152,367 | |
| (Cost of Goods) | $26,880 | $27,418 | $27,966 | $28,525 | $29,096 | $29,678 | $30,271 | $30,877 | $31,494 | $32,124 | $32,767 | $33,422 | $360,517 | |
| GROSS PROFIT | $59,040 | $60,221 | $61,425 | $62,654 | $63,907 | $65,185 | $66,489 | $67,818 | $69,175 | $70,558 | $71,969 | $73,409 | $791,850 | |
| EXPENSES - General and Administrative | ||||||||||||||
| Salaries and wages | $9,948 | $9,948 | $9,948 | $9,948 | $9,948 | $9,948 | $19,115 | $19,115 | $19,115 | $19,115 | $19,115 | $19,115 | $174,378 | |
| Employee benefits | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $2,086 | $25,036 | |
| Payroll taxes | $1,492 | $1,492 | $1,492 | $1,492 | $1,492 | $1,492 | $2,867 | $2,867 | $2,867 | $2,867 | $2,867 | $2,867 | $26,157 | |
| Professional services | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 | $15,500 | |
| Marketing and advertising | $29,980 | $20,230 | $20,980 | $21,230 | $21,980 | $21,230 | $21,980 | $21,230 | $21,230 | $21,980 | $21,980 | $21,980 | $266,010 | |
| Rent | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Equipment rental | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $12,000 | |
| Maintenance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Insurance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Telephone service | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Utilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Office supplies | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Postage and shipping | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Travel | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Entertainment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Interest on loans | $83 | $80 | $77 | $73 | $70 | $67 | $63 | $60 | $56 | $53 | $50 | $46 | $779 | |
| Other (change title here) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other (change title here) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| TOTAL EXPENSES | $45,882 | $36,128 | $36,875 | $37,122 | $37,868 | $37,115 | $48,404 | $47,650 | $47,647 | $48,393 | $48,390 | $48,386 | $519,859 | |
| Net income before taxes and interest | $13,158 | $24,093 | $24,550 | $25,532 | $26,039 | $28,070 | $18,085 | $20,168 | $21,528 | $22,165 | $23,580 | $25,022 | $271,991 | |
| Interest Income | $52 | $67 | $81 | $96 | $112 | $129 | $138 | $148 | $159 | $171 | $184 | $197 | $1,533 | |
| Provision for taxes on income | $3,303 | $6,040 | $6,158 | $6,407 | $6,538 | $7,050 | $4,556 | $5,079 | $5,422 | $5,584 | $5,941 | $6,305 | $67,998 | |
| NET PROFIT | $9,908 | $18,119 | $18,474 | $19,221 | $19,613 | $21,149 | $13,667 | $15,237 | $16,265 | $16,752 | $17,822 | $18,914 | $205,526 |
CASH FLOW
| Cash Flow Author: For information about this worksheet, see "Cash-Flow Projections" in "The Financials" chapter of Successful Business Plan: Secrets & Strategies. | 2019-2020 | ||||||||||||||
| October | November | December | January | February | March | April | May | June | July | August | September | TOTAL | |||
| CASH RECEIPTS | |||||||||||||||
| Income from Sales | |||||||||||||||
| Cash Sales | $43,200 | $44,064 | $44,945 | $45,844 | $46,761 | $47,696 | $48,650 | $49,623 | $50,616 | $51,628 | $52,661 | $53,714 | $579,402 | ||
| Collections | $0 | $52,800 | $53,856 | $54,933 | $56,032 | $57,152 | $58,295 | $59,461 | $60,651 | $61,864 | $63,101 | $64,363 | $642,508 | ||
| Total Cash from Sales | $43,200 | $96,864 | $98,801 | $100,777 | $102,793 | $104,849 | $106,946 | $109,085 | $111,266 | $113,492 | $115,761 | $118,077 | $1,221,910 | ||
| Income from Financing | |||||||||||||||
| Interest Income | $52 Author: This line item is automatically calculated for you based on the interest rate you entered on the "Setup and Assumptions" sheet. | $67 | $81 | $96 | $112 | $129 | $138 | $148 | $159 | $171 | $184 | $197 | $1,533 | ||
| Loan Proceeds | $20,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20,000 | ||
| Equity Capital Investments | $45,240 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $45,240 | ||
| Total Cash from Financing | $65,292 | $67 | $81 | $96 | $112 | $129 | $138 | $148 | $159 | $171 | $184 | $197 | $66,773 | ||
| Other Cash Receipts | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| TOTAL CASH RECEIPTS | $108,492 | $96,931 | $98,882 | $100,874 | $102,905 | $104,978 | $107,083 | $109,232 | $111,425 | $113,662 | $115,945 | $118,273 | $1,288,683 | ||
| CASH DISBURSEMENTS | |||||||||||||||
| Inventory | $5,240 | $32,699 | $33,353 | $34,020 | $34,700 | $35,394 | $36,102 | $36,824 | $37,561 | $38,312 | $39,078 | $40,712 | $403,994 | ||
| Operating Expenses | $45,798 | $36,048 | $36,798 | $37,048 | $37,798 | $37,048 | $48,340 | $47,590 | $47,590 | $48,340 | $48,340 | $48,340 | $519,081 | ||
| Commissions/Returns & Allowances | $10,080 | $10,282 | $10,487 | $10,697 | $10,911 | $11,129 | $11,352 | $11,579 | $11,810 | $12,047 | $12,287 | $12,533 | $135,194 | ||
| Capital Purchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Loan Payments | $877 | $877 | $877 | $877 | $877 | $877 | $877 | $877 | $877 | $877 | $877 | $877 | $10,529 | ||
| Income Tax Payments | $0 Author: Note that on your Income Statements, we've generated an estimate for income taxes. This line on the Cash Flow statement is where you should reflect the actual payments you intend to make on a regular basis (probably quarterly). |
Author: This line item is automatically calculated for you based on the interest rate you entered on the "Setup and Assumptions" sheet. | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Investor Dividend Payments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Owner's Draw | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| TOTAL CASH DISBURSEMENTS | $61,996 | $79,906 | $81,516 | $82,642 | $84,287 | $84,449 | $96,671 | $96,871 | $97,839 | $99,576 | $100,583 | $102,463 | $1,068,798 | ||
| NET CASH FLOW | $46,497 | $17,025 | $17,367 | $18,231 | $18,618 | $20,529 | $10,412 | $12,362 | $13,587 | $14,086 | $15,362 | $15,811 | $219,886 | ||
| Opening Cash Balance | $16,500 | $62,997 | $80,021 | $97,388 | $115,619 | $134,237 | $154,766 | $165,178 | $177,540 | $191,126 | $205,213 | $220,575 | |||
| Cash Receipts | $108,492 | $96,931 | $98,882 | $100,874 | $102,905 | $104,978 | $107,083 | $109,232 | $111,425 | $113,662 | $115,945 | $118,273 | |||
| Cash Disbursements | $61,996 | $79,906 | $81,516 | $82,642 | $84,287 | $84,449 | $96,671 | $96,871 | $97,839 | $99,576 | $100,583 | $102,463 | |||
| ENDING CASH BALANCE | $62,997 | $80,021 | $97,388 | $115,619 | $134,237 | $154,766 | $165,178 | $177,540 | $191,126 | $205,213 | $220,575 | $236,386 | $236,386 |
BALANCE SHEET
| Balance Sheet | Balance Sheet | Balance Sheet | Balance Sheet | |||||||||||||||||||
| Mama Lassi | Mama Lassi | Mama Lassi | Mama Lassi | |||||||||||||||||||
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||||||||
| 2019-2020 | 2019-2020 | 2019-2020 | 2019-2020 | |||||||||||||||||||
| ASSETS | ASSETS | ASSETS | ASSETS | |||||||||||||||||||
| Current Assets | Current Assets | Current Assets | Current Assets | |||||||||||||||||||
| Cash | $97,388 | Cash | $154,766 | Cash | $191,126 | Cash | $236,386 | |||||||||||||||
| Accounts Receivable | $54,933 | Accounts Receivable | $58,295 | Accounts Receivable | $61,864 | Accounts Receivable | $65,650 | |||||||||||||||
| Inventory | -$10,972 | Inventory | $5,843 | Inventory | $23,688 | Inventory | $43,477 | |||||||||||||||
| Other Current Assets | $0 | Other Current Assets | $0 | Other Current Assets | $0 | Other Current Assets | $0 | |||||||||||||||
| Total Current Assets | $141,349 | Total Current Assets | $218,905 | Total Current Assets | $276,678 | Total Current Assets | $345,513 | |||||||||||||||
| Fixed Assets | Fixed Assets | Fixed Assets | Fixed Assets | |||||||||||||||||||
| Land | $0 | Land | $0 | Land | $0 | Land | $0 | |||||||||||||||
| Facilities | $0 | Facilities | $0 | Facilities | $0 | Facilities | $0 | |||||||||||||||
| Equipment | $0 | Equipment | $0 | Equipment | $0 | Equipment | $0 | |||||||||||||||
| Computers & Telecommunications | $0 | Computers & Telecommunications | $0 | Computers & Telecommunications | $0 | Computers & Telecommunications | $0 | |||||||||||||||
| (Less Accumlated Depreciation) | $0 | (Less Accumlated Depreciation) | $0 | (Less Accumlated Depreciation) | $0 | (Less Accumlated Depreciation) | $0 | |||||||||||||||
| Total Fixed Assets | $0 | Total Fixed Assets | $0 | Total Fixed Assets | $0 | Total Fixed Assets | $0 | |||||||||||||||
| Other Assets | $0 | Other Assets | $0 | Other Assets | $0 | Other Assets | $0 | |||||||||||||||
| TOTAL ASSETS | $141,349 | TOTAL ASSETS | $218,905 | TOTAL ASSETS | $276,678 | TOTAL ASSETS | $345,513 | |||||||||||||||
| LIABILITIES | LIABILITIES | LIABILITIES | LIABILITIES | |||||||||||||||||||
| Current Liabilities | Current Liabilities | Current Liabilities | Current Liabilities | |||||||||||||||||||
| Short-Term Notes Payable | $9,873 | Short-Term Notes Payable | $9,997 | Short-Term Notes Payable | $10,122 | Short-Term Notes Payable | $10,249 | |||||||||||||||
| Income Taxes Due | $15,500 | Income Taxes Due | $35,495 | Income Taxes Due | $50,551 | Income Taxes Due | $67,998 | |||||||||||||||
| Other Current Liabilities | $0 | Other Current Liabilities | $0 | Other Current Liabilities | $0 | Other Current Liabilities | $0 | |||||||||||||||
| Total Current Liabilities | $25,373 | Total Current Liabilities | $45,492 | Total Current Liabilities | $60,674 | Total Current Liabilities | $78,247 | |||||||||||||||
| Long-Term Liabilities | Long-Term Liabilities | Long-Term Liabilities | Long-Term Liabilities | |||||||||||||||||||
| Long-Term Notes Payable | $7,735 | Long-Term Notes Payable | $5,189 | Long-Term Notes Payable | $2,610 | Long-Term Notes Payable | $0 | |||||||||||||||
| Other Long-Term Liabilities | $0 | Other Long-Term Liabilities | $0 | Other Long-Term Liabilities | $0 | Other Long-Term Liabilities | $0 | |||||||||||||||
| Total Long-Term Liabilities | $7,735 | Total Long-Term Liabilities | $5,189 | Total Long-Term Liabilities | $2,610 | Total Long-Term Liabilities | $0 | |||||||||||||||
| NET WORTH | NET WORTH | NET WORTH | NET WORTH | |||||||||||||||||||
| Paid-In Capital | $61,740 | Paid-In Capital | $61,740 | Paid-In Capital | $61,740 | Paid-In Capital | $61,740 | |||||||||||||||
| Retained Earnings | $46,501 | Retained Earnings | $106,484 | Retained Earnings | $151,654 | Retained Earnings | $205,526 | |||||||||||||||
| Total Net Worth | $108,241 | Total Net Worth | $168,224 | Total Net Worth | $213,394 | Total Net Worth | $267,266 | |||||||||||||||
| TOTAL LIABILITIES AND NET WORTH | $141,349 | TOTAL LIABILITIES AND NET WORTH | $218,905 | TOTAL LIABILITIES AND NET WORTH | $276,678 | TOTAL LIABILITIES AND NET WORTH | $345,513 | |||||||||||||||
Marketing Budget
| Marketing Budget | 2019-2020 | ||||||||||||
| October | November | December | January | February | March | April | May | June | July | August | September | TOTAL | |
| Professional Assistance | |||||||||||||
| Marketing/PR Consultants | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $60,000 |
| Advertising Agencies | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $6,000 |
| Social Media Specialists | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $36,000 |
| SEO Specialist | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Graphic/Web Design | $1,000 | $1,000 | $1,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $21,000 |
| Brochures/Leaflets/Flyers | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $9,600 |
| Signs/Billboards | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $30,000 |
| Merchandising Displays | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $54,000 |
| Sampling/Premiums | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $3,600 |
| Media Advertising | |||||||||||||
| Print (newspaper, etc.) | $750 | $0 | $750 | $0 | $750 | $0 | $750 | $0 | $0 | $750 | $750 | $750 | $5,250 |
| Television and Radio | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Online | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $30,000 |
| Other Media | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Phone Directories | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Advertising Specialties | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Direct Mail | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Website | |||||||||||||
| Development/Programming | $9,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9,000 |
| Maintenance and Hosting | $130 | $130 | $130 | $130 | $130 | $130 | $130 | $130 | $130 | $130 | $130 | $130 | $1,560 |
| Trade Shows | |||||||||||||
| Fees and Setup | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Travel/Shipping | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Exhibits/Signs | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Public Relations/Materials | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Informal Marketing / Networking | |||||||||||||
| Memberships/Meetings | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Entertainment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| GRAND TOTAL COSTS | $29,980 | $20,230 | $20,980 | $21,230 | $21,980 | $21,230 | $21,980 | $21,230 | $21,230 | $21,980 | $21,980 | $21,980 | $266,010 |