Cosmetics Manufacturing Business Plan
Bluespa
Appendix
| Sales Forecast | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Sales | |||||||||||||
| Retail | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $34,125 | $39,871 | $56,129 | |
| Wholesale | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $73,100 | $74,800 | $76,600 | |
| Catalogue and Internet Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Sales | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $107,225 | $114,671 | $132,729 | |
| Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Retail | $0 | $0 | $0 | $0 | $0 | $6,296 | $6,181 | $9,968 | $6,474 | $8,531 | $9,968 | $14,032 | |
| Wholesale | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27,778 | $28,424 | $29,108 | |
| Catalogue and Internet Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $6,296 | $6,181 | $9,968 | $6,474 | $36,309 | $38,392 | $43,140 | |
| Personnel Plan | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Production Personnel | |||||||||||||
| Shipping Manager | $0 | $0 | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,833 | $1,833 | $1,833 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $5,166 | $5,166 | $5,166 | |
| Sales and Marketing Personnel | |||||||||||||
| Store Manager(s) | $0 | $0 | $0 | $0 | $1,800 | $2,667 | $2,667 | $2,667 | $2,667 | $2,667 | $2,667 | $2,664 | |
| Asst. Manager(s) | $0 | $0 | $0 | $0 | $1,500 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,336 | |
| Sales | $0 | $0 | $0 | $0 | $1,500 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,336 | |
| District Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $4,800 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,336 | |
| General and Administrative Personnel | |||||||||||||
| President | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Vice President of Product Development | $0 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | |
| Director of Retail and Spa Operations | $0 | $0 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | |
| Director of Finance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Director of Human Resources | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Director, Inventory Planning & Distribution | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Director of Marketing | $0 | $0 | $0 | $0 | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Accounts Receivable Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Accounts Payable Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Visual Merchandising Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Training Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Distributor | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Distributor | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AR Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AR Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AP Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AP Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Administrative Assistant | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | |
| Subtotal | $3,000 | $6,750 | $10,500 | $13,833 | $13,833 | $13,833 | $17,833 | $17,833 | $18,833 | $18,833 | $18,833 | $18,833 | |
| Creative Personnel | |||||||||||||
| Graphic Designer | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Graphic Artist | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Copy Writer | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Total Payroll | $3,000 | $6,750 | $10,500 | $13,833 | $18,633 | $24,499 | $28,499 | $28,499 | $29,499 | $31,332 | $31,332 | $31,335 | |
| Pro Forma 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 | ||
| Sales | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $107,225 | $114,671 | $132,729 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $6,296 | $6,181 | $9,968 | $6,474 | $36,309 | $38,392 | $43,140 | |
| Production Payroll | $0 | $0 | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $5,166 | $5,166 | $5,166 | |
| Ecommerce & Catalog Production & Fulfillment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $9,629 | $9,514 | $13,301 | $9,807 | $41,475 | $43,558 | $48,306 | |
| Gross Margin | $0 | $0 | $0 | $0 | $0 | $15,556 | $15,211 | $26,570 | $16,088 | $65,750 | $71,113 | $84,423 | |
| Gross Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 61.77% | 61.52% | 66.64% | 62.13% | 61.32% | 62.02% | 63.61% | |
| Operating Expenses | |||||||||||||
| Sales and Marketing Expenses | |||||||||||||
| Sales and Marketing Payroll | $0 | $0 | $0 | $0 | $4,800 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,336 | |
| Advertising/Promotion Retail | $0 | $0 | $0 | $0 | $0 | $1,007 | $989 | $1,595 | $1,036 | $1,365 | $1,595 | $2,245 | |
| Advertising/Promotion Brand | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10,000 | $10,000 | $20,000 | $20,000 | $20,000 | |
| Travel & Enterntainment | $0 | $0 | $0 | $0 | $0 | $756 | $2,000 | $1,196 | $4,000 | $2,145 | $3,440 | $2,655 | |
| Selling Supplies | $0 | $0 | $0 | $0 | $0 | $252 | $247 | $399 | $259 | $1,072 | $1,147 | $1,327 | |
| Wholesale Commissions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8,772 | $8,976 | $9,192 | |
| Total Sales and Marketing Expenses | $0 | $0 | $0 | $0 | $4,800 | $9,348 | $10,569 | $20,523 | $22,628 | $40,687 | $42,491 | $42,755 | |
| Sales and Marketing % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 37.12% | 42.75% | 51.47% | 87.38% | 37.95% | 37.05% | 32.21% | |
| General and Administrative Expenses | |||||||||||||
| General and Administrative Payroll | $3,000 | $6,750 | $10,500 | $13,833 | $13,833 | $13,833 | $17,833 | $17,833 | $18,833 | $18,833 | $18,833 | $18,833 | |
| Depreciation | $0 | $0 | $0 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | |
| Leased Equipment | $0 | $0 | $0 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | |
| Utilities | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $375 | $402 | $465 | |
| Insurance | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $536 | $573 | $664 | |
| Bad Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,327 | |
| Legal Fees | $0 | $0 | $0 | $0 | $0 | $76 | $74 | $120 | $78 | $322 | $344 | $398 | |
| Licenses & Permits | $0 | $0 | $0 | $0 | $0 | $25 | $25 | $40 | $26 | $107 | $115 | $133 | |
| Office Supplies | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $536 | $573 | $664 | |
| Telephone | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $375 | $401 | $465 | |
| Taxes/non-income tax | $0 | $0 | $0 | $0 | $0 | $378 | $371 | $598 | $388 | $1,608 | $1,720 | $1,991 | |
| Payroll Taxes | 15% | $450 | $1,013 | $1,575 | $2,075 | $2,795 | $3,675 | $4,275 | $4,275 | $4,425 | $4,700 | $4,700 | $4,700 |
| Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $1,259 | $1,236 | $1,994 | $1,295 | $1,706 | $1,994 | $2,806 | |
| Total General and Administrative Expenses | $3,450 | $7,763 | $12,075 | $19,282 | $20,002 | $23,124 | $27,684 | $29,030 | $28,935 | $32,472 | $33,029 | $35,820 | |
| General and Administrative % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 91.82% | 111.97% | 72.81% | 111.74% | 30.28% | 28.80% | 26.99% | |
| Creative Expenses: | |||||||||||||
| Creative Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Contract/Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Creative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Creative % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Total Operating Expenses | $3,450 | $7,763 | $12,075 | $19,282 | $24,802 | $32,472 | $38,253 | $49,553 | $51,563 | $73,159 | $75,520 | $78,575 | |
| Profit Before Interest and Taxes | ($3,450) | ($7,763) | ($12,075) | ($19,282) | ($24,802) | ($16,916) | ($23,042) | ($22,983) | ($35,475) | ($7,409) | ($4,407) | $5,848 | |
| EBITDA | ($3,450) | ($7,763) | ($12,075) | ($17,708) | ($23,228) | ($15,342) | ($21,468) | ($21,409) | ($33,901) | ($5,835) | ($2,833) | $7,422 | |
| Interest Expense | $693 | $1,385 | $1,286 | $1,188 | $1,089 | $990 | $891 | $792 | $693 | $594 | $495 | $396 | |
| Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Profit | ($4,143) | ($9,148) | ($13,361) | ($20,469) | ($25,890) | ($17,906) | ($23,933) | ($23,774) | ($36,167) | ($8,003) | ($4,901) | $5,452 | |
| Net Profit/Sales | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -71.10% | -96.80% | -59.63% | -139.67% | -7.46% | -4.27% | 4.11% | |
| Pro Forma Cash Flow | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Cash Received | |||||||||||||
| Cash from Operations | |||||||||||||
| Cash Sales | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $34,312 | $40,135 | $57,073 | |
| Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,430 | $72,967 | |
| Subtotal Cash from Operations | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $34,312 | $42,565 | $130,041 | |
| Additional Cash Received | |||||||||||||
| Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| New Current Borrowing | $0 | $100,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Investment Received | $0 | $0 | $0 | $0 | $1,500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $0 | $100,000 | $0 | $0 | $1,500,000 | $25,185 | $24,725 | $39,871 | $25,895 | $34,312 | $42,565 | $130,041 | |
| Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Expenditures from Operations | |||||||||||||
| Cash Spending | $3,000 | $6,750 | $10,500 | $13,833 | $18,633 | $24,499 | $28,499 | $28,499 | $29,499 | $31,332 | $31,332 | $31,335 | |
| Bill Payments | $38 | $1,185 | $2,413 | $2,935 | $5,083 | $5,851 | $10,778 | $12,777 | $23,635 | $27,133 | $102,573 | $89,094 | |
| Subtotal Spent on Operations | $3,038 | $7,935 | $12,913 | $16,768 | $23,716 | $30,350 | $39,277 | $41,276 | $53,134 | $58,465 | $133,905 | $120,429 | |
| Additional Cash Spent | |||||||||||||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Principal Repayment of Current Borrowing | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | |
| Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Other Current Assets | $0 | $0 | $0 | $0 | $50,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $192,873 | $0 | $0 | $0 | |
| Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $15,538 | $20,435 | $25,413 | $29,268 | $86,216 | $42,850 | $51,777 | $53,776 | $258,507 | $70,965 | $146,405 | $132,929 | |
| Net Cash Flow | ($15,538) | $79,565 | ($25,413) | ($29,268) | $1,413,784 | ($17,665) | ($27,052) | ($13,905) | ($232,612) | ($36,653) | ($103,840) | ($2,889) | |
| Cash Balance | $124,462 | $204,027 | $178,614 | $149,346 | $1,563,130 | $1,545,465 | $1,518,413 | $1,504,508 | $1,271,896 | $1,235,243 | $1,131,403 | $1,128,514 | |
| Pro Forma Balance Sheet | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Assets | Starting Balances | ||||||||||||
| Current Assets | |||||||||||||
| Cash | $140,000 | $124,462 | $204,027 | $178,614 | $149,346 | $1,563,130 | $1,545,465 | $1,518,413 | $1,504,508 | $1,271,896 | $1,235,243 | $1,131,403 | $1,128,514 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $72,913 | $145,019 | $147,707 |
| Inventory | $44,500 | $44,500 | $44,500 | $44,500 | $44,500 | $44,500 | $38,204 | $32,023 | $22,055 | $15,581 | $36,309 | $38,392 | $43,140 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
| Total Current Assets | $184,500 | $168,962 | $248,527 | $223,114 | $193,846 | $1,657,630 | $1,633,668 | $1,600,436 | $1,576,563 | $1,337,477 | $1,394,465 | $1,364,813 | $1,369,361 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $257,873 | $257,873 | $257,873 | $257,873 |
| Accumulated Depreciation | $0 | $0 | $0 | $0 | $1,574 | $3,148 | $4,722 | $6,296 | $7,870 | $9,444 | $11,018 | $12,592 | $14,166 |
| Total Long-term Assets | $65,000 | $65,000 | $65,000 | $65,000 | $63,426 | $61,852 | $60,278 | $58,704 | $57,130 | $248,429 | $246,855 | $245,281 | $243,707 |
| Total Assets | $249,500 | $233,962 | $313,527 | $288,114 | $257,272 | $1,719,482 | $1,693,946 | $1,659,140 | $1,633,693 | $1,585,906 | $1,641,320 | $1,610,094 | $1,613,068 |
| Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Current Liabilities | |||||||||||||
| Accounts Payable | $0 | $1,105 | $2,318 | $2,766 | $4,894 | $5,494 | $10,364 | $11,990 | $22,818 | $23,698 | $99,615 | $85,791 | $95,813 |
| Current Borrowing | $100,000 | $87,500 | $175,000 | $162,500 | $150,000 | $137,500 | $125,000 | $112,500 | $100,000 | $87,500 | $75,000 | $62,500 | $50,000 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $100,000 | $88,605 | $177,318 | $165,266 | $154,894 | $142,994 | $135,364 | $124,490 | $122,818 | $111,198 | $174,615 | $148,291 | $145,813 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $100,000 | $88,605 | $177,318 | $165,266 | $154,894 | $142,994 | $135,364 | $124,490 | $122,818 | $111,198 | $174,615 | $148,291 | $145,813 |
| Paid-in Capital | $320,000 | $320,000 | $320,000 | $320,000 | $320,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 |
| Retained Earnings | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) |
| Earnings | $0 | ($4,143) | ($13,291) | ($26,652) | ($47,122) | ($73,012) | ($90,918) | ($114,850) | ($138,625) | ($174,792) | ($182,795) | ($187,696) | ($182,244) |
| Total Capital | $149,500 | $145,357 | $136,209 | $122,848 | $102,378 | $1,576,488 | $1,558,582 | $1,534,650 | $1,510,875 | $1,474,708 | $1,466,705 | $1,461,804 | $1,467,256 |
| Total Liabilities and Capital | $249,500 | $233,962 | $313,527 | $288,114 | $257,272 | $1,719,482 | $1,693,946 | $1,659,140 | $1,633,693 | $1,585,906 | $1,641,320 | $1,610,094 | $1,613,068 |
| Net Worth | $149,500 | $145,357 | $136,209 | $122,848 | $102,378 | $1,576,488 | $1,558,582 | $1,534,650 | $1,510,875 | $1,474,708 | $1,466,705 | $1,461,804 | $1,467,256 |
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| Sales Forecast | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Sales | |||||||||||||
| Retail | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $34,125 | $39,871 | $56,129 | |
| Wholesale | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $73,100 | $74,800 | $76,600 | |
| Catalogue and Internet Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Sales | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $107,225 | $114,671 | $132,729 | |
| Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Retail | $0 | $0 | $0 | $0 | $0 | $6,296 | $6,181 | $9,968 | $6,474 | $8,531 | $9,968 | $14,032 | |
| Wholesale | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27,778 | $28,424 | $29,108 | |
| Catalogue and Internet Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $6,296 | $6,181 | $9,968 | $6,474 | $36,309 | $38,392 | $43,140 | |
| Personnel Plan | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Production Personnel | |||||||||||||
| Shipping Manager | $0 | $0 | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,833 | $1,833 | $1,833 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Shipping Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $5,166 | $5,166 | $5,166 | |
| Sales and Marketing Personnel | |||||||||||||
| Store Manager(s) | $0 | $0 | $0 | $0 | $1,800 | $2,667 | $2,667 | $2,667 | $2,667 | $2,667 | $2,667 | $2,664 | |
| Asst. Manager(s) | $0 | $0 | $0 | $0 | $1,500 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,336 | |
| Sales | $0 | $0 | $0 | $0 | $1,500 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,336 | |
| District Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $4,800 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,336 | |
| General and Administrative Personnel | |||||||||||||
| President | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Vice President of Product Development | $0 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | |
| Director of Retail and Spa Operations | $0 | $0 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | |
| Director of Finance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Director of Human Resources | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Director, Inventory Planning & Distribution | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Director of Marketing | $0 | $0 | $0 | $0 | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Accounts Receivable Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Accounts Payable Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Visual Merchandising Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Training Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Distributor | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Distributor | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AR Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AR Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AP Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| AP Clerk | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Administrative Assistant | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | $3,333 | |
| Subtotal | $3,000 | $6,750 | $10,500 | $13,833 | $13,833 | $13,833 | $17,833 | $17,833 | $18,833 | $18,833 | $18,833 | $18,833 | |
| Creative Personnel | |||||||||||||
| Graphic Designer | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Graphic Artist | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Copy Writer | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Total Payroll | $3,000 | $6,750 | $10,500 | $13,833 | $18,633 | $24,499 | $28,499 | $28,499 | $29,499 | $31,332 | $31,332 | $31,335 | |
| Pro Forma 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 | ||
| Sales | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $107,225 | $114,671 | $132,729 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $6,296 | $6,181 | $9,968 | $6,474 | $36,309 | $38,392 | $43,140 | |
| Production Payroll | $0 | $0 | $0 | $0 | $0 | $3,333 | $3,333 | $3,333 | $3,333 | $5,166 | $5,166 | $5,166 | |
| Ecommerce & Catalog Production & Fulfillment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $9,629 | $9,514 | $13,301 | $9,807 | $41,475 | $43,558 | $48,306 | |
| Gross Margin | $0 | $0 | $0 | $0 | $0 | $15,556 | $15,211 | $26,570 | $16,088 | $65,750 | $71,113 | $84,423 | |
| Gross Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 61.77% | 61.52% | 66.64% | 62.13% | 61.32% | 62.02% | 63.61% | |
| Operating Expenses | |||||||||||||
| Sales and Marketing Expenses | |||||||||||||
| Sales and Marketing Payroll | $0 | $0 | $0 | $0 | $4,800 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,333 | $7,336 | |
| Advertising/Promotion Retail | $0 | $0 | $0 | $0 | $0 | $1,007 | $989 | $1,595 | $1,036 | $1,365 | $1,595 | $2,245 | |
| Advertising/Promotion Brand | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10,000 | $10,000 | $20,000 | $20,000 | $20,000 | |
| Travel & Enterntainment | $0 | $0 | $0 | $0 | $0 | $756 | $2,000 | $1,196 | $4,000 | $2,145 | $3,440 | $2,655 | |
| Selling Supplies | $0 | $0 | $0 | $0 | $0 | $252 | $247 | $399 | $259 | $1,072 | $1,147 | $1,327 | |
| Wholesale Commissions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8,772 | $8,976 | $9,192 | |
| Total Sales and Marketing Expenses | $0 | $0 | $0 | $0 | $4,800 | $9,348 | $10,569 | $20,523 | $22,628 | $40,687 | $42,491 | $42,755 | |
| Sales and Marketing % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 37.12% | 42.75% | 51.47% | 87.38% | 37.95% | 37.05% | 32.21% | |
| General and Administrative Expenses | |||||||||||||
| General and Administrative Payroll | $3,000 | $6,750 | $10,500 | $13,833 | $13,833 | $13,833 | $17,833 | $17,833 | $18,833 | $18,833 | $18,833 | $18,833 | |
| Depreciation | $0 | $0 | $0 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | $1,574 | |
| Leased Equipment | $0 | $0 | $0 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | |
| Utilities | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $375 | $402 | $465 | |
| Insurance | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $536 | $573 | $664 | |
| Bad Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,327 | |
| Legal Fees | $0 | $0 | $0 | $0 | $0 | $76 | $74 | $120 | $78 | $322 | $344 | $398 | |
| Licenses & Permits | $0 | $0 | $0 | $0 | $0 | $25 | $25 | $40 | $26 | $107 | $115 | $133 | |
| Office Supplies | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $536 | $573 | $664 | |
| Telephone | $0 | $0 | $0 | $0 | $0 | $126 | $124 | $199 | $129 | $375 | $401 | $465 | |
| Taxes/non-income tax | $0 | $0 | $0 | $0 | $0 | $378 | $371 | $598 | $388 | $1,608 | $1,720 | $1,991 | |
| Payroll Taxes | 15% | $450 | $1,013 | $1,575 | $2,075 | $2,795 | $3,675 | $4,275 | $4,275 | $4,425 | $4,700 | $4,700 | $4,700 |
| Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $1,259 | $1,236 | $1,994 | $1,295 | $1,706 | $1,994 | $2,806 | |
| Total General and Administrative Expenses | $3,450 | $7,763 | $12,075 | $19,282 | $20,002 | $23,124 | $27,684 | $29,030 | $28,935 | $32,472 | $33,029 | $35,820 | |
| General and Administrative % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 91.82% | 111.97% | 72.81% | 111.74% | 30.28% | 28.80% | 26.99% | |
| Creative Expenses: | |||||||||||||
| Creative Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Contract/Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Creative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Creative % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Total Operating Expenses | $3,450 | $7,763 | $12,075 | $19,282 | $24,802 | $32,472 | $38,253 | $49,553 | $51,563 | $73,159 | $75,520 | $78,575 | |
| Profit Before Interest and Taxes | ($3,450) | ($7,763) | ($12,075) | ($19,282) | ($24,802) | ($16,916) | ($23,042) | ($22,983) | ($35,475) | ($7,409) | ($4,407) | $5,848 | |
| EBITDA | ($3,450) | ($7,763) | ($12,075) | ($17,708) | ($23,228) | ($15,342) | ($21,468) | ($21,409) | ($33,901) | ($5,835) | ($2,833) | $7,422 | |
| Interest Expense | $693 | $1,385 | $1,286 | $1,188 | $1,089 | $990 | $891 | $792 | $693 | $594 | $495 | $396 | |
| Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Profit | ($4,143) | ($9,148) | ($13,361) | ($20,469) | ($25,890) | ($17,906) | ($23,933) | ($23,774) | ($36,167) | ($8,003) | ($4,901) | $5,452 | |
| Net Profit/Sales | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -71.10% | -96.80% | -59.63% | -139.67% | -7.46% | -4.27% | 4.11% | |
| Pro Forma Cash Flow | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Cash Received | |||||||||||||
| Cash from Operations | |||||||||||||
| Cash Sales | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $34,312 | $40,135 | $57,073 | |
| Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,430 | $72,967 | |
| Subtotal Cash from Operations | $0 | $0 | $0 | $0 | $0 | $25,185 | $24,725 | $39,871 | $25,895 | $34,312 | $42,565 | $130,041 | |
| Additional Cash Received | |||||||||||||
| Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| New Current Borrowing | $0 | $100,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Investment Received | $0 | $0 | $0 | $0 | $1,500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $0 | $100,000 | $0 | $0 | $1,500,000 | $25,185 | $24,725 | $39,871 | $25,895 | $34,312 | $42,565 | $130,041 | |
| Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Expenditures from Operations | |||||||||||||
| Cash Spending | $3,000 | $6,750 | $10,500 | $13,833 | $18,633 | $24,499 | $28,499 | $28,499 | $29,499 | $31,332 | $31,332 | $31,335 | |
| Bill Payments | $38 | $1,185 | $2,413 | $2,935 | $5,083 | $5,851 | $10,778 | $12,777 | $23,635 | $27,133 | $102,573 | $89,094 | |
| Subtotal Spent on Operations | $3,038 | $7,935 | $12,913 | $16,768 | $23,716 | $30,350 | $39,277 | $41,276 | $53,134 | $58,465 | $133,905 | $120,429 | |
| Additional Cash Spent | |||||||||||||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Principal Repayment of Current Borrowing | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | |
| Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Other Current Assets | $0 | $0 | $0 | $0 | $50,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $192,873 | $0 | $0 | $0 | |
| Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $15,538 | $20,435 | $25,413 | $29,268 | $86,216 | $42,850 | $51,777 | $53,776 | $258,507 | $70,965 | $146,405 | $132,929 | |
| Net Cash Flow | ($15,538) | $79,565 | ($25,413) | ($29,268) | $1,413,784 | ($17,665) | ($27,052) | ($13,905) | ($232,612) | ($36,653) | ($103,840) | ($2,889) | |
| Cash Balance | $124,462 | $204,027 | $178,614 | $149,346 | $1,563,130 | $1,545,465 | $1,518,413 | $1,504,508 | $1,271,896 | $1,235,243 | $1,131,403 | $1,128,514 | |
| Pro Forma Balance Sheet | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Assets | Starting Balances | ||||||||||||
| Current Assets | |||||||||||||
| Cash | $140,000 | $124,462 | $204,027 | $178,614 | $149,346 | $1,563,130 | $1,545,465 | $1,518,413 | $1,504,508 | $1,271,896 | $1,235,243 | $1,131,403 | $1,128,514 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $72,913 | $145,019 | $147,707 |
| Inventory | $44,500 | $44,500 | $44,500 | $44,500 | $44,500 | $44,500 | $38,204 | $32,023 | $22,055 | $15,581 | $36,309 | $38,392 | $43,140 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
| Total Current Assets | $184,500 | $168,962 | $248,527 | $223,114 | $193,846 | $1,657,630 | $1,633,668 | $1,600,436 | $1,576,563 | $1,337,477 | $1,394,465 | $1,364,813 | $1,369,361 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $257,873 | $257,873 | $257,873 | $257,873 |
| Accumulated Depreciation | $0 | $0 | $0 | $0 | $1,574 | $3,148 | $4,722 | $6,296 | $7,870 | $9,444 | $11,018 | $12,592 | $14,166 |
| Total Long-term Assets | $65,000 | $65,000 | $65,000 | $65,000 | $63,426 | $61,852 | $60,278 | $58,704 | $57,130 | $248,429 | $246,855 | $245,281 | $243,707 |
| Total Assets | $249,500 | $233,962 | $313,527 | $288,114 | $257,272 | $1,719,482 | $1,693,946 | $1,659,140 | $1,633,693 | $1,585,906 | $1,641,320 | $1,610,094 | $1,613,068 |
| Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Current Liabilities | |||||||||||||
| Accounts Payable | $0 | $1,105 | $2,318 | $2,766 | $4,894 | $5,494 | $10,364 | $11,990 | $22,818 | $23,698 | $99,615 | $85,791 | $95,813 |
| Current Borrowing | $100,000 | $87,500 | $175,000 | $162,500 | $150,000 | $137,500 | $125,000 | $112,500 | $100,000 | $87,500 | $75,000 | $62,500 | $50,000 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $100,000 | $88,605 | $177,318 | $165,266 | $154,894 | $142,994 | $135,364 | $124,490 | $122,818 | $111,198 | $174,615 | $148,291 | $145,813 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $100,000 | $88,605 | $177,318 | $165,266 | $154,894 | $142,994 | $135,364 | $124,490 | $122,818 | $111,198 | $174,615 | $148,291 | $145,813 |
| Paid-in Capital | $320,000 | $320,000 | $320,000 | $320,000 | $320,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 | $1,820,000 |
| Retained Earnings | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) | ($170,500) |
| Earnings | $0 | ($4,143) | ($13,291) | ($26,652) | ($47,122) | ($73,012) | ($90,918) | ($114,850) | ($138,625) | ($174,792) | ($182,795) | ($187,696) | ($182,244) |
| Total Capital | $149,500 | $145,357 | $136,209 | $122,848 | $102,378 | $1,576,488 | $1,558,582 | $1,534,650 | $1,510,875 | $1,474,708 | $1,466,705 | $1,461,804 | $1,467,256 |
| Total Liabilities and Capital | $249,500 | $233,962 | $313,527 | $288,114 | $257,272 | $1,719,482 | $1,693,946 | $1,659,140 | $1,633,693 | $1,585,906 | $1,641,320 | $1,610,094 | $1,613,068 |
| Net Worth | $149,500 | $145,357 | $136,209 | $122,848 | $102,378 | $1,576,488 | $1,558,582 | $1,534,650 | $1,510,875 | $1,474,708 | $1,466,705 | $1,461,804 | $1,467,256 |
