2-3 pages and calculations needed. It's a loan evaluation. Whether we should accept or decline the loan.
iamnickok
wackywineslinkedfinancialsproforma-2.xlsxBest Case
| Income Statement (Unaudited) | ||||||||
| (for years ending September 1) | ||||||||
| 2012 | 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | ||
| Net Sales | $ 459,000.00 | $ 550,800.00 | $ 688,500.00 | $ 895,050.00 | $ 1,529,307.50 | $ 1,758,703.62 | $ 2,022,509.17 | |
| Cost of Goods Sold | $ 137,700.00 | $ 165,240.00 | $ 206,550.00 | $ 268,515.00 | $ 458,792.25 | $ 527,611.09 | $ 606,752.75 | |
| Gross Profit | $ 321,300.00 | $ 385,560.00 | $ 481,950.00 | $ 626,535.00 | $ 1,070,515.25 | $ 1,231,092.54 | $ 1,415,756.42 | |
| Operating expenses | ||||||||
| Advertising and promotion | $ 36,720.00 | $ 49,572.00 | $ 68,850.00 | $ 98,455.50 | $ 137,637.68 | $ 158,283.33 | $ 182,025.83 | |
| Depreciation | $ 26,371.90 | $ 27,914.80 | $ 28,387.70 | $ 28,492.50 | $ 80,335.70 | $ 80,335.70 | $ 80,335.70 | |
| Insurance | $ 20,655.00 | $ 24,786.00 | $ 30,982.50 | $ 40,277.25 | $ 68,818.84 | $ 79,141.66 | $ 91,012.91 | |
| Legal and accounting | $ 27,540.00 | $ 33,598.80 | $ 42,687.00 | $ 53,703.00 | $ 91,758.45 | $ 105,522.22 | $ 121,350.55 | |
| Office expenses | $ 1,463.00 | $ 1,417.00 | $ 3,337.00 | $ 3,164.53 | $ 61,172.30 | $ 70,348.14 | $ 80,900.37 | |
| Repairs and Maintenance | $ 1,463.00 | $ 1,417.00 | $ 3,337.00 | $ 3,164.53 | $ 45,879.23 | $ 61,554.63 | $ 80,900.37 | |
| Rent | $ 32,130.00 | $ 33,048.00 | $ 34,425.00 | $ 35,802.00 | $ 76,465.38 | $ 87,935.18 | $ 101,125.46 | |
| Telephone | $ 9,180.00 | $ 12,668.40 | $ 17,212.50 | $ 17,901.00 | $ 30,586.15 | $ 35,174.07 | $ 40,450.18 | |
| Utilities | $ 13,770.00 | $ 16,524.00 | $ 20,655.00 | $ 26,851.50 | $ 45,879.23 | $ 52,761.11 | $ 60,675.28 | |
| Wages and benefits | $ 68,850.00 | $ 93,636.00 | $ 130,815.00 | $ 187,960.50 | $ 152,930.75 | $ 175,870.36 | $ 202,250.92 | |
| Total operating profit | $ 83,157.10 | $ 90,978.00 | $ 101,261.30 | $ 130,762.70 | $ 279,051.56 | $ 324,166.13 | $ 374,728.86 | |
| Interest expense | $ 9,906.53 | $ 8,259.62 | $ 6,527.69 | $ 6,154.79 | $ 32,359.79 | $ 28,709.79 | $ 25,009.79 | |
| Income before taxes | $ 73,250.57 | $ 82,718.38 | $ 94,733.61 | $ 124,607.91 | $ 246,691.78 | $ 295,456.35 | $ 349,719.08 | |
| Income taxes | $ 29,300.23 | $ 33,087.35 | $ 37,893.45 | $ 49,843.17 | $ 98,676.71 | $ 118,182.54 | $ 139,887.63 | |
| Net Income | $ 43,950.34 | $ 49,631.03 | $ 56,840.17 | $ 74,764.75 | $ 148,015.07 | $ 177,273.81 | $ 209,831.45 | |
| Statement of Retained Earnings (Unaudited) | ||||||||
| (for years ending September 1) | ||||||||
| 2012 | 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | ||
| Beginning retained earnings | $ 39,506.00 | $ 83,456.34 | $ 133,087.37 | $ 189,927.54 | $ 264,692.29 | $ 412,707.35 | $ 589,981.16 | |
| Add: Net Income | 43,950.34 | 49,631.03 | 56,840.17 | 74,764.75 | 148,015.07 | 177,273.81 | 209,831.45 | |
| Ending retained earnings | $ 83,456.34 | $ 133,087.37 | $ 189,927.54 | $ 264,692.29 | $ 412,707.35 | $ 589,981.16 | $ 799,812.61 | |
| Balance Sheet (Unaudited) | ||||||||
| (as at September 1) | ||||||||
| 2012 | 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | ||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash | $ 83,908.08 | $ 73,963.91 | $ 71,971.28 | $ 95,208.03 | $ 129,326.32 | $ 273,659.18 | $ 428,521.69 | |
| Accounts Receivable | $ 82,620.00 | $ 99,144.00 | $ 123,930.00 | $ 161,109.00 | $ 275,275.35 | $ 316,566.65 | $ 364,051.65 | |
| Inventory | $ 59,670.00 | $ 82,620.00 | $ 106,717.50 | $ 143,208.00 | $ 229,396.13 | $ 228,631.47 | $ 242,701.10 | |
| Prepaid expenses | $ 12,341.00 | $ 13,528.00 | $ 13,459.00 | $ 13,002.00 | $ 13,000.00 | $ 13,250.00 | $ 13,500.00 | |
| Total Current Assets | $ 238,539.08 | $ 269,255.91 | $ 316,077.78 | $ 412,527.03 | $ 646,997.79 | $ 832,107.30 | $ 1,048,774.44 | |
| Fixed Assets: | ||||||||
| Computer hardware & software | $ 17,190.00 | $ 17,190.00 | $ 18,060.00 | $ 18,060.00 | $ 18,060.00 | $ 18,060.00 | $ 18,060.00 | |
| Furniture & fixtures | $ 11,688.00 | $ 26,662.00 | $ 30,521.00 | $ 30,521.00 | $ 40,000.00 | $ 40,000.00 | $ 40,000.00 | |
| Signage | $ 9,545.00 | $ 10,000.00 | $ 10,000.00 | $ 12,000.00 | $ 20,000.00 | $ 20,000.00 | $ 20,000.00 | |
| Real Estate | $ 225,296.00 | $ 225,296.00 | $ 225,296.00 | $ 225,296.00 | $ 725,297.00 | $ 725,297.00 | $ 725,297.00 | |
| Total Fixed Assets (cost) | $ 263,719.00 | $ 279,148.00 | $ 283,877.00 | $ 285,877.00 | $ 803,357.00 | $ 803,357.00 | $ 803,357.00 | |
| Less: Accumulated depreciation | $ 98,398.00 | $ 126,312.80 | $ 154,700.50 | $ 183,193.00 | $ 263,528.70 | $ 343,864.40 | $ 424,200.10 | |
| Net fixed assets | $ 165,321.00 | $ 152,835.20 | $ 129,176.50 | $ 102,684.00 | $ 539,828.30 | $ 459,492.60 | $ 379,156.90 | |
| TOTAL ASSETS | $ 403,860.08 | $ 422,091.11 | $ 445,254.28 | $ 515,211.03 | $ 1,186,826.09 | $ 1,291,599.90 | $ 1,427,931.34 | |
| LIABILITIES | ||||||||
| Current Liabilities: | ||||||||
| Operating line of credit ($40,000 limit) | $ 26,736.00 | $ 34,442.00 | $ 36,000.00 | $ 40,000.00 | $ 35,000.00 | $ 35,000.00 | $ 35,000.00 | |
| Accounts Payable | $ 19,503.00 | $ 19,500.00 | $ 20,150.00 | $ 22,000.00 | $ 22,500.00 | $ 23,000.00 | $ 23,500.00 | |
| Current Portion of Long Term Debt | $ 35,755.00 | $ 32,407.00 | $ 28,929.00 | $ 22,200.00 | $ 72,500.00 | $ 72,000.00 | $ 70,000.00 | |
| Total Current Liabilities | $ 81,994.00 | $ 86,349.00 | $ 85,079.00 | $ 84,200.00 | $ 130,000.00 | $ 130,000.00 | $ 128,500.00 | |
| Long Term Liabilities: | ||||||||
| Term Bank Loans | $ 140,986.74 | $ 105,231.74 | $ 72,824.74 | $ 68,895.74 | $ 546,695.74 | $ 474,195.74 | $ 402,195.74 | |
| Deferred Income Taxes | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | |
| Total Long Term Liabilities | $ 154,373.74 | $ 118,618.74 | $ 86,211.74 | $ 82,282.74 | $ 560,082.74 | $ 487,582.74 | $ 415,582.74 | |
| TOTAL LIABILITIES | $ 236,367.74 | $ 204,967.74 | $ 171,290.74 | $ 166,482.74 | $ 690,082.74 | $ 617,582.74 | $ 544,082.74 | |
| Shareholder's Equity | ||||||||
| Share Capital | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | |
| Retained Earnings | $ 83,456.34 | $ 133,087.37 | $ 189,927.54 | $ 264,692.29 | $ 412,707.35 | $ 589,981.16 | $ 799,812.61 | |
| Total Shareholder's Equity | $ 167,492.34 | $ 217,123.37 | $ 273,963.54 | $ 348,728.29 | $ 496,743.35 | $ 674,017.16 | $ 883,848.61 | |
| TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY | $ 403,860.08 | $ 422,091.11 | $ 445,254.28 | $ 515,211.03 | $ 1,186,826.09 | $ 1,291,599.90 | $ 1,427,931.35 | |
| Statement of Cash Flows | ||||||||
| (for the year ending September 1) | ||||||||
| 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | |||
| OPERATIONS: | ||||||||
| Net Income | $ 49,631.03 | $ 56,840.17 | $ 74,764.75 | $ 148,015.07 | $ 177,273.81 | $ 209,831.45 | ||
| Adjustments to Cash Basis: | ||||||||
| Depreciation | $ 27,914.80 | $ 28,387.70 | $ 28,492.50 | $ 80,335.70 | $ 80,335.70 | $ 80,335.70 | ||
| Accounts Receivable | $ (16,524.00) | $ (24,786.00) | $ (37,179.00) | $ (114,166.35) | $ (41,291.30) | $ (47,485.00) | ||
| Inventory | $ (22,950.00) | $ (24,097.50) | $ (36,490.50) | $ (86,188.13) | $ 764.65 | $ (14,069.63) | ||
| Prepaid Expenses | $ (1,187.00) | $ 69.00 | $ 457.00 | $ 2.00 | $ (250.00) | $ (250.00) | ||
| Accounts Payable | $ (3.00) | $ 650.00 | $ 1,850.00 | $ 500.00 | $ 500.00 | $ 500.00 | ||
| Deferred Income taxes | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| $ (12,749.20) | $ (19,776.80) | $ (42,870.00) | $ (119,516.77) | $ 40,059.05 | $ 19,031.07 | |||
| Net Cash Flow From Operations | $ 36,881.83 | $ 37,063.37 | $ 31,894.75 | $ 28,498.29 | $ 217,332.86 | $ 228,862.52 | ||
| FINANCING ACTIVITIES | ||||||||
| Operating Line of Credit | $ 7,706.00 | $ 1,558.00 | $ 4,000.00 | $ (5,000.00) | $ - 0 | $ - 0 | ||
| Current Portion of Long Term Debt | $ (3,348.00) | $ (3,478.00) | $ (6,729.00) | $ 50,300.00 | $ (500.00) | $ (2,000.00) | ||
| Term Bank Loans | $ (35,755.00) | $ (32,407.00) | $ (3,929.00) | $ 477,800.00 | $ (72,500.00) | $ (72,000.00) | ||
| Net Cash Flow From Financing Activities | $ (31,397.00) | $ (34,327.00) | $ (6,658.00) | $ 523,100.00 | $ (73,000.00) | $ (74,000.00) | ||
| INVESTING ACTIVITIES | ||||||||
| Fixed Assets | $ (15,429.00) | $ (4,729.00) | $ (2,000.00) | $ (517,480.00) | $ - 0 | $ - 0 | ||
| Net Cash Flow | $ (9,944.17) | $ (1,992.63) | $ 23,236.75 | $ 34,118.29 | $ 144,332.86 | $ 154,862.52 | ||
| Beginning Cash | $ 83,908.08 | $ 73,963.91 | $ 71,971.28 | $ 95,208.03 | $ 129,326.32 | $ 273,659.18 | ||
| Ending Cash | $ 73,963.91 | $ 71,971.28 | $ 95,208.03 | $ 129,326.32 | $ 273,659.18 | $ 428,521.69 | ||
Worst Case
| Income Statement (Unaudited) | ||||||||
| (for years ending September 1) | ||||||||
| 2012 | 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | ||
| Net Sales | $ 459,000.00 | $ 550,800.00 | $ 688,500.00 | $ 895,050.00 | $ 1,234,555.00 | $ 1,358,010.50 | $ 1,493,811.55 | |
| Cost of Goods Sold | $ 137,700.00 | $ 165,240.00 | $ 206,550.00 | $ 268,515.00 | $ 432,094.25 | $ 475,303.68 | $ 522,834.04 | |
| Gross Profit | $ 321,300.00 | $ 385,560.00 | $ 481,950.00 | $ 626,535.00 | $ 802,460.75 | $ 882,706.83 | $ 970,977.51 | |
| Operating expenses | ||||||||
| Advertising and promotion | $ 36,720.00 | $ 49,572.00 | $ 68,850.00 | $ 98,455.50 | $ 111,109.95 | $ 122,220.94 | $ 134,443.04 | |
| Depreciation | $ 26,371.90 | $ 27,914.80 | $ 28,387.70 | $ 28,492.50 | $ 80,335.70 | $ 80,335.70 | $ 80,335.70 | |
| Insurance | $ 20,655.00 | $ 24,786.00 | $ 30,982.50 | $ 40,277.25 | $ 55,554.98 | $ 61,110.47 | $ 67,221.52 | |
| Legal and accounting | $ 27,540.00 | $ 33,598.80 | $ 42,687.00 | $ 53,703.00 | $ 74,073.30 | $ 81,480.63 | $ 89,628.69 | |
| Office expenses | $ 1,463.00 | $ 1,417.00 | $ 3,337.00 | $ 3,164.53 | $ 49,382.20 | $ 54,320.42 | $ 59,752.46 | |
| Repairs and Maintenance | $ 1,463.00 | $ 1,417.00 | $ 3,337.00 | $ 3,164.53 | $ 37,036.65 | $ 47,530.37 | $ 59,752.46 | |
| Rent | $ 32,130.00 | $ 33,048.00 | $ 34,425.00 | $ 35,802.00 | $ 61,727.75 | $ 67,900.53 | $ 74,690.58 | |
| Telephone | $ 9,180.00 | $ 12,668.40 | $ 17,212.50 | $ 17,901.00 | $ 24,691.10 | $ 27,160.21 | $ 29,876.23 | |
| Utilities | $ 13,770.00 | $ 16,524.00 | $ 20,655.00 | $ 26,851.50 | $ 37,036.65 | $ 40,740.31 | $ 44,814.35 | |
| Wages and benefits | $ 68,850.00 | $ 93,636.00 | $ 130,815.00 | $ 187,960.50 | $ 185,183.25 | $ 203,701.57 | $ 224,071.73 | |
| Total operating profit | $ 83,157.10 | $ 90,978.00 | $ 101,261.30 | $ 130,762.70 | $ 86,329.22 | $ 96,205.67 | $ 106,390.74 | |
| Interest expense | $ 9,906.53 | $ 8,259.62 | $ 6,527.69 | $ 6,154.79 | $ 51,985.66 | $ 46,145.66 | $ 40,225.66 | |
| Income before taxes | $ 73,250.57 | $ 82,718.38 | $ 94,733.61 | $ 124,607.91 | $ 34,343.57 | $ 50,060.01 | $ 66,165.08 | |
| Income taxes | $ 29,300.23 | $ 33,087.35 | $ 37,893.45 | $ 49,843.17 | $ 13,737.43 | $ 20,024.00 | $ 26,466.03 | |
| Net Income | $ 43,950.34 | $ 49,631.03 | $ 56,840.17 | $ 74,764.75 | $ 20,606.14 | $ 30,036.00 | $ 39,699.05 | |
| Statement of Retained Earnings (Unaudited) | ||||||||
| (for years ending September 1) | ||||||||
| 2012 | 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | ||
| Beginning retained earnings | $ 39,506.00 | $ 83,456.34 | $ 133,087.37 | $ 189,927.54 | $ 264,692.29 | $ 285,298.43 | $ 315,334.43 | |
| Add: Net Income | 43,950.34 | 49,631.03 | 56,840.17 | 74,764.75 | 20,606.14 | 30,036.00 | 39,699.05 | |
| Ending retained earnings | $ 83,456.34 | $ 133,087.37 | $ 189,927.54 | $ 264,692.29 | $ 285,298.43 | $ 315,334.43 | $ 355,033.48 | |
| Balance Sheet (Unaudited) | ||||||||
| (as at September 1) | ||||||||
| 2012 | 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | ||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash | $ 83,908.08 | $ 73,963.91 | $ 71,971.28 | $ 95,208.03 | $ 99,185.71 | $ 123,227.31 | $ 142,351.85 | |
| Accounts Receivable | $ 82,620.00 | $ 99,144.00 | $ 123,930.00 | $ 161,109.00 | $ 222,219.90 | $ 244,441.89 | $ 268,886.08 | |
| Inventory | $ 59,670.00 | $ 82,620.00 | $ 106,717.50 | $ 143,208.00 | $ 185,183.25 | $ 176,541.37 | $ 179,257.39 | |
| Prepaid expenses | $ 12,341.00 | $ 13,528.00 | $ 13,459.00 | $ 13,002.00 | $ 13,000.00 | $ 13,250.00 | $ 13,500.00 | |
| Total Current Assets | $ 238,539.08 | $ 269,255.91 | $ 316,077.78 | $ 412,527.03 | $ 519,588.86 | $ 557,460.57 | $ 603,995.32 | |
| Fixed Assets: | ||||||||
| Computer hardware & software | $ 17,190.00 | $ 17,190.00 | $ 18,060.00 | $ 18,060.00 | $ 18,060.00 | $ 18,060.00 | $ 18,060.00 | |
| Furniture & fixtures | $ 11,688.00 | $ 26,662.00 | $ 30,521.00 | $ 30,521.00 | $ 40,000.00 | $ 40,000.00 | $ 40,000.00 | |
| Signage | $ 9,545.00 | $ 10,000.00 | $ 10,000.00 | $ 12,000.00 | $ 20,000.00 | $ 20,000.00 | $ 20,000.00 | |
| Real Estate | $ 225,296.00 | $ 225,296.00 | $ 225,296.00 | $ 225,296.00 | $ 725,297.00 | $ 725,297.00 | $ 725,297.00 | |
| Total Fixed Assets (cost) | $ 263,719.00 | $ 279,148.00 | $ 283,877.00 | $ 285,877.00 | $ 803,357.00 | $ 803,357.00 | $ 803,357.00 | |
| Less: Accumulated depreciation | $ 98,398.00 | $ 126,312.80 | $ 154,700.50 | $ 183,193.00 | $ 263,528.70 | $ 343,864.40 | $ 424,200.10 | |
| Net fixed assets | $ 165,321.00 | $ 152,835.20 | $ 129,176.50 | $ 102,684.00 | $ 539,828.30 | $ 459,492.60 | $ 379,156.90 | |
| TOTAL ASSETS | $ 403,860.08 | $ 422,091.11 | $ 445,254.28 | $ 515,211.03 | $ 1,059,417.16 | $ 1,016,953.17 | $ 983,152.22 | |
| LIABILITIES | ||||||||
| Current Liabilities: | ||||||||
| Operating line of credit ($40,000 limit) | $ 26,736.00 | $ 34,442.00 | $ 36,000.00 | $ 40,000.00 | $ 35,000.00 | $ 35,000.00 | $ 35,000.00 | |
| Accounts Payable | $ 19,503.00 | $ 19,500.00 | $ 20,150.00 | $ 22,000.00 | $ 22,500.00 | $ 23,000.00 | $ 23,500.00 | |
| Current Portion of Long Term Debt | $ 35,755.00 | $ 32,407.00 | $ 28,929.00 | $ 22,200.00 | $ 72,500.00 | $ 72,000.00 | $ 70,000.00 | |
| Total Current Liabilities | $ 81,994.00 | $ 86,349.00 | $ 85,079.00 | $ 84,200.00 | $ 130,000.00 | $ 130,000.00 | $ 128,500.00 | |
| Long Term Liabilities: | ||||||||
| Term Bank Loans | $ 140,986.74 | $ 105,231.74 | $ 72,824.74 | $ 68,895.74 | $ 546,695.74 | $ 474,195.74 | $ 402,195.74 | |
| Deferred Income Taxes | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | $ 13,387.00 | |
| Total Long Term Liabilities | $ 154,373.74 | $ 118,618.74 | $ 86,211.74 | $ 82,282.74 | $ 560,082.74 | $ 487,582.74 | $ 415,582.74 | |
| TOTAL LIABILITIES | $ 236,367.74 | $ 204,967.74 | $ 171,290.74 | $ 166,482.74 | $ 690,082.74 | $ 617,582.74 | $ 544,082.74 | |
| Shareholder's Equity | ||||||||
| Share Capital | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | $ 84,036.00 | |
| Retained Earnings | $ 83,456.34 | $ 133,087.37 | $ 189,927.54 | $ 264,692.29 | $ 285,298.43 | $ 315,334.43 | $ 355,033.48 | |
| Total Shareholder's Equity | $ 167,492.34 | $ 217,123.37 | $ 273,963.54 | $ 348,728.29 | $ 369,334.43 | $ 399,370.43 | $ 439,069.48 | |
| TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY | $ 403,860.08 | $ 422,091.11 | $ 445,254.28 | $ 515,211.03 | $ 1,059,417.17 | $ 1,016,953.17 | $ 983,152.22 | |
| Statement of Cash Flows | ||||||||
| (for the year ending September 1) | ||||||||
| 2013 | 2014 | 2015 | 2016F | 2017F | 2018F | |||
| OPERATIONS: | ||||||||
| Net Income | $ 49,631.03 | $ 56,840.17 | $ 74,764.75 | $ 20,606.14 | $ 30,036.00 | $ 39,699.05 | ||
| Adjustments to Cash Basis: | ||||||||
| Depreciation | $ 27,914.80 | $ 28,387.70 | $ 28,492.50 | $ 80,335.70 | $ 80,335.70 | $ 80,335.70 | ||
| Accounts Receivable | $ (16,524.00) | $ (24,786.00) | $ (37,179.00) | $ (61,110.90) | $ (22,221.99) | $ (24,444.19) | ||
| Inventory | $ (22,950.00) | $ (24,097.50) | $ (36,490.50) | $ (41,975.25) | $ 8,641.88 | $ (2,716.02) | ||
| Prepaid Expenses | $ (1,187.00) | $ 69.00 | $ 457.00 | $ 2.00 | $ (250.00) | $ (250.00) | ||
| Accounts Payable | $ (3.00) | $ 650.00 | $ 1,850.00 | $ 500.00 | $ 500.00 | $ 500.00 | ||
| Deferred Income taxes | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | ||
| $ (12,749.20) | $ (19,776.80) | $ (42,870.00) | $ (22,248.45) | $ 67,005.60 | $ 53,425.49 | |||
| Net Cash Flow From Operations | $ 36,881.83 | $ 37,063.37 | $ 31,894.75 | $ (1,642.31) | $ 97,041.60 | $ 93,124.54 | ||
| FINANCING ACTIVITIES | ||||||||
| Operating Line of Credit | $ 7,706.00 | $ 1,558.00 | $ 4,000.00 | $ (5,000.00) | $ - 0 | $ - 0 | ||
| Current Portion of Long Term Debt | $ (3,348.00) | $ (3,478.00) | $ (6,729.00) | $ 50,300.00 | $ (500.00) | $ (2,000.00) | ||
| Term Bank Loans | $ (35,755.00) | $ (32,407.00) | $ (3,929.00) | $ 477,800.00 | $ (72,500.00) | $ (72,000.00) | ||
| Net Cash Flow From Financing Activities | $ (31,397.00) | $ (34,327.00) | $ (6,658.00) | $ 523,100.00 | $ (73,000.00) | $ (74,000.00) | ||
| INVESTING ACTIVITIES | ||||||||
| Fixed Assets | $ (15,429.00) | $ (4,729.00) | $ (2,000.00) | $ (517,480.00) | $ - 0 | $ - 0 | ||
| Net Cash Flow | $ (9,944.17) | $ (1,992.63) | $ 23,236.75 | $ 3,977.69 | $ 24,041.60 | $ 19,124.54 | ||
| Beginning Cash | $ 83,908.08 | $ 73,963.91 | $ 71,971.28 | $ 95,208.03 | $ 99,185.71 | $ 123,227.31 | ||
| Ending Cash | $ 73,963.91 | $ 71,971.28 | $ 95,208.03 | $ 99,185.71 | $ 123,227.31 | $ 142,351.85 | ||
