Valley Airporter
Company Summary
Valley Airporter is a successful airport shuttle service that transports passengers between the Portland International Airport and Corvallis. Valley Airporter has office space in the Clairmont Inn, as well as long-term parking for customers.
2.1 Company Ownership
Bob and Mary Wilson are co-owners of Valley Airporter.
2.2 Company History
In April 1998, three 14-passenger vans were converted to 11-passenger vans with rear luggage area and Valley Airporter began. Valley Airporter plans to travel over 2,000 miles per day, transporting over 20,000 passengers.
To accommodate those passengers, we plan to purchase three brand new 20-passenger replacement buses. All buses are equipped with seat belts and high back reclinable seats for comfort and safety. The schedule has continually expanded over the years from three times a day weekdays only, to ten trips each weekday and nine trips on Saturday and Sunday, 365 days per year.
| Past Performance | |||
| 1999 | 2000 | 2001 | |
| Sales | $138,600 | $200,000 | $290,000 |
| Gross Margin | $30,000 | $40,000 | $60,000 |
| Gross Margin % | 21.65% | 20.00% | 20.69% |
| Operating Expenses | $75,000 | $90,000 | $120,000 |
| Balance Sheet | |||
| 1999 | 2000 | 2001 | |
| Current Assets | |||
| Cash | $20,000 | $30,000 | $50,000 |
| Other Current Assets | $0 | $0 | $0 |
| Total Current Assets | $20,000 | $30,000 | $50,000 |
| Long-term Assets | |||
| Long-term Assets | $60,000 | $60,000 | $130,000 |
| Accumulated Depreciation | $8,000 | $16,000 | $24,000 |
| Total Long-term Assets | $52,000 | $44,000 | $106,000 |
| Total Assets | $72,000 | $74,000 | $156,000 |
| Current Liabilities | |||
| Accounts Payable | $10,000 | $14,000 | $16,000 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities (interest free) | $0 | $0 | $0 |
| Total Current Liabilities | $10,000 | $14,000 | $16,000 |
| Long-term Liabilities | $20,000 | $10,000 | $80,000 |
| Total Liabilities | $30,000 | $24,000 | $96,000 |
| Paid-in Capital | $0 | $0 | $0 |
| Retained Earnings | $33,000 | $38,400 | $45,500 |
| Earnings | $9,000 | $11,600 | $14,500 |
| Total Capital | $42,000 | $50,000 | $60,000 |
| Total Capital and Liabilities | $72,000 | $74,000 | $156,000 |
| Other Inputs | |||
| Payment Days | 0 | 0 | 0 |
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