Could please review for me this assignment
Michelle_Michy
StatemntofProfitandloss2.xlsxForecasted Profit and Loss
| Monthly Profit and Loss | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 |
| REVENUE (Sales): | 430,500 | 432000 | 435000 | 440000 | 445000 | 447000 | 450000 | 455000 | 460000 | 462000 | 465000 | |
| 425500.00 | ||||||||||||
| OPERATING EXPENSES: | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 240,000 |
| Total Operating Expenses: | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 | 250,000.00 |
| Profit before Interest | 175500.00 | 180500.00 | 182000.00 | 185000.00 | 190000.00 | 195000.00 | 197000.00 | 200000.00 | 205000.00 | 210000.00 | 212000.00 | 225000.00 |
| Interest Expense | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 |
| Net Profit (Loss) - Monthly | 145500.00 | 150500.00 | 152000.00 | 155000.00 | 160000.00 | 165000.00 | 167000.00 | 170000.00 | 175000.00 | 180000.00 | 182000.00 | 185000.00 |
| Net Profit (Loss) for year | 145500.00 | 150500.00 | 152000.00 | 155000.00 | 160000.00 | 165000.00 | 167000.00 | 170000.00 | 175000.00 | 180000.00 | 182000.00 | 185000.00 |
Firm Name: MetaShoe Company Name of Report: Profit and Loss account For the period ending: 2021
Forecasted Balance Sheet
| Projected Balance Sheet | |||||
| ASSETS: | |||||
| Current Assets (e.g. Cash, Accounts Receivable, Inventory, etc): | |||||
| Cash | $ 250,000.00 | ||||
| Cash at Bank | $ 450,000.00 | ||||
| Inventoy | $ 300,000.00 | ||||
| $ 1,000,000.00 | |||||
| Long-Term Assets (e.g. Furniture, Equipment, Vehicle, Building, etc.): | |||||
| Buildings | $ 1,200,000.00 | ||||
| Machinery | $ 750,000.00 | ||||
| Land | $ 500,000.00 | ||||
| $ 2,450,000.00 | |||||
| Total Assets | $ 3,450,000.00 | ||||
| LIABILITIES: | |||||
| Current Liabilties (e.g. Accounts Payable, Wages Payable, etc.): | |||||
| Accounts payable | $ 360,000.00 | ||||
| $ 360,000.00 | |||||
| Long-Term Liabilities (e.g. Loan Payable, etc.): | |||||
| Bank Loan | $ 2,500,000.00 | ||||
| $ 2,500,000.00 | |||||
| Total Liabilities | $ 2,860,000.00 | ||||
| Owner's Equity | |||||
| Owner's Investment (optional) | $ 500,000.00 | ||||
| Retained Earnings | $ 90,000.00 | ||||
| $ 590,000.00 | |||||
| Total Liabilities and | |||||
| Owner's Equity | $ 3,450,000.00 | ||||
Firm Name: Name of Report: As of:
