The Athlete's Foot
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 | |||||||||||||
| Footwear Sales | 0% | $37,620 | $50,018 | $25,650 | $26,933 | $31,208 | $50,445 | $31,208 | $30,353 | $38,475 | $36,765 | $34,200 | $34,628 |
| Accessories / Apparel | 0% | $1,980 | $2,633 | $1,350 | $1,418 | $1,643 | $2,655 | $1,643 | $1,598 | $2,025 | $1,935 | $1,800 | $1,823 |
| Total Sales | $39,600 | $52,650 | $27,000 | $28,350 | $32,850 | $53,100 | $32,850 | $31,950 | $40,500 | $38,700 | $36,000 | $36,450 | |
| 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 | |
| Footwear Sales | $20,691 | $27,510 | $14,108 | $14,813 | $17,164 | $27,745 | $17,164 | $16,694 | $21,161 | $20,221 | $18,810 | $19,045 | |
| Accessories / Apparel | $1,089 | $1,448 | $743 | $780 | $903 | $1,460 | $903 | $879 | $1,114 | $1,064 | $990 | $1,002 | |
| Subtotal Direct Cost of Sales | $21,780 | $28,958 | $14,850 | $15,593 | $18,068 | $29,205 | $18,068 | $17,573 | $22,275 | $21,285 | $19,800 | $20,048 | |
| 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 | ||
| Jane Lefkowitz, Owner / Mgr. / $18.K / Yr. | 0% | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
| Assistant Store Manager / $18K / Yr. | 0% | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
| Key Assoc. / $8.00 hr. – 40 hrs. | 0% | $1,024 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 |
| Part Time Assoc. “A” – $6.00 / Hr.- 12 hrs | 0% | $288 | $288 | $288 | $288 | $288 | $288 | $288 | $288 | $288 | $288 | $288 | $288 |
| Part Time Assoc. “B” – $6.00 / Hr. – 8 hrs. | 0% | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 |
| Part Time Assoc. “C” – $6.00 / Hr. – 8 hrs. | 0% | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 | $192 |
| Total People | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | |
| Total Payroll | $4,696 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | |
| General Assumptions | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
| Current Interest Rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |
| Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
| Tax Rate | 30.00% | 25.00% | 0.00% | 0.00% | 0.00% | 25.00% | 0.00% | 0.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
| Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 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 | $39,600 | $52,650 | $27,000 | $28,350 | $32,850 | $53,100 | $32,850 | $31,950 | $40,500 | $38,700 | $36,000 | $36,450 | |
| Direct Cost of Sales | $21,780 | $28,958 | $14,850 | $15,593 | $18,068 | $29,205 | $18,068 | $17,573 | $22,275 | $21,285 | $19,800 | $20,048 | |
| Other | $792 | $1,053 | $540 | $567 | $657 | $1,062 | $657 | $639 | $810 | $774 | $720 | $729 | |
| Total Cost of Sales | $22,572 | $30,011 | $15,390 | $16,160 | $18,725 | $30,267 | $18,725 | $18,212 | $23,085 | $22,059 | $20,520 | $20,777 | |
| Gross Margin | $17,028 | $22,640 | $11,610 | $12,190 | $14,126 | $22,833 | $14,126 | $13,739 | $17,415 | $16,641 | $15,480 | $15,674 | |
| Gross Margin % | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | 43.00% | |
| Expenses | |||||||||||||
| Payroll | $4,696 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | |
| Sales and Marketing and Other Expenses | $3,845 | $4,636 | $3,084 | $3,166 | $3,438 | $4,663 | $3,438 | $3,383 | $3,900 | $3,791 | $3,628 | $3,656 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Royalties (5%) | $1,980 | $2,633 | $1,350 | $1,418 | $1,643 | $2,655 | $1,643 | $1,598 | $2,025 | $1,935 | $1,800 | $1,823 | |
| Insurance | $515 | $684 | $351 | $369 | $427 | $690 | $427 | $415 | $527 | $503 | $468 | $474 | |
| Rent | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | $2,267 | |
| Payroll Taxes | 10% | $470 | $495 | $495 | $495 | $495 | $495 | $495 | $495 | $495 | $495 | $495 | $495 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $13,772 | $15,667 | $12,498 | $12,666 | $13,221 | $15,722 | $13,221 | $13,110 | $14,166 | $13,943 | $13,610 | $13,666 | |
| Profit Before Interest and Taxes | $3,256 | $6,973 | ($888) | ($475) | $904 | $7,111 | $904 | $628 | $3,249 | $2,698 | $1,870 | $2,008 | |
| EBITDA | $3,256 | $6,973 | ($888) | ($475) | $904 | $7,111 | $904 | $628 | $3,249 | $2,698 | $1,870 | $2,008 | |
| Interest Expense | $1,381 | $1,361 | $1,342 | $1,322 | $1,303 | $1,283 | $1,264 | $1,244 | $1,225 | $1,205 | $1,186 | $1,166 | |
| Taxes Incurred | $563 | $1,403 | $0 | $0 | $0 | $1,457 | $0 | $0 | $506 | $373 | $171 | $210 | |
| Net Profit | $1,313 | $4,209 | ($2,230) | ($1,797) | ($398) | $4,371 | ($359) | ($616) | $1,519 | $1,119 | $513 | $631 | |
| Net Profit/Sales | 3.31% | 7.99% | -8.26% | -6.34% | -1.21% | 8.23% | -1.09% | -1.93% | 3.75% | 2.89% | 1.43% | 1.73% | |
| 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 | $39,600 | $52,650 | $27,000 | $28,350 | $32,850 | $53,100 | $32,850 | $31,950 | $40,500 | $38,700 | $36,000 | $36,450 | |
| Subtotal Cash from Operations | $39,600 | $52,650 | $27,000 | $28,350 | $32,850 | $53,100 | $32,850 | $31,950 | $40,500 | $38,700 | $36,000 | $36,450 | |
| 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 | $0 | $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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $39,600 | $52,650 | $27,000 | $28,350 | $32,850 | $53,100 | $32,850 | $31,950 | $40,500 | $38,700 | $36,000 | $36,450 | |
| 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 | $4,696 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | $4,952 | |
| Bill Payments | $2,394 | $11,902 | $14,362 | $9,878 | $23,204 | $31,853 | $54,694 | $16,375 | $27,474 | $38,947 | $31,452 | $28,976 | |
| Subtotal Spent on Operations | $7,090 | $16,854 | $19,314 | $14,830 | $28,156 | $36,805 | $59,646 | $21,327 | $32,426 | $43,899 | $36,404 | $33,928 | |
| 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 | $375 | $375 | $375 | $375 | $375 | $375 | $375 | $375 | $375 | $375 | $375 | $375 | |
| Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Long-term Liabilities Principal Repayment | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $9,465 | $19,229 | $21,689 | $17,205 | $30,531 | $39,180 | $62,021 | $23,702 | $34,801 | $46,274 | $38,779 | $36,303 | |
| Net Cash Flow | $30,135 | $33,421 | $5,311 | $11,145 | $2,319 | $13,920 | ($29,171) | $8,248 | $5,699 | ($7,574) | ($2,779) | $147 | |
| Cash Balance | $58,135 | $91,556 | $96,868 | $108,013 | $110,332 | $124,252 | $95,081 | $103,329 | $109,028 | $101,454 | $98,676 | $98,823 | |
| 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 | $28,000 | $58,135 | $91,556 | $96,868 | $108,013 | $110,332 | $124,252 | $95,081 | $103,329 | $109,028 | $101,454 | $98,676 | $98,823 |
| Inventory | $85,000 | $63,220 | $34,263 | $19,413 | $17,152 | $19,874 | $32,126 | $19,874 | $19,330 | $24,503 | $23,414 | $21,780 | $22,052 |
| Other Current Assets | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Total Current Assets | $114,000 | $122,355 | $126,819 | $117,280 | $126,164 | $131,206 | $157,378 | $115,955 | $123,659 | $134,531 | $125,868 | $121,456 | $121,875 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 |
| Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-term Assets | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 |
| Total Assets | $184,000 | $192,355 | $196,819 | $187,280 | $196,164 | $201,206 | $227,378 | $185,955 | $193,659 | $204,531 | $195,868 | $191,456 | $191,875 |
| 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 | $2,000 | $11,418 | $14,047 | $9,114 | $22,170 | $29,985 | $54,161 | $15,473 | $26,167 | $37,895 | $30,488 | $27,938 | $30,101 |
| Current Borrowing | $20,000 | $19,625 | $19,250 | $18,875 | $18,500 | $18,125 | $17,750 | $17,375 | $17,000 | $16,625 | $16,250 | $15,875 | $15,500 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $22,000 | $31,043 | $33,297 | $27,989 | $40,670 | $48,110 | $71,911 | $32,848 | $43,167 | $54,520 | $46,738 | $43,813 | $45,601 |
| Long-term Liabilities | $150,000 | $148,000 | $146,000 | $144,000 | $142,000 | $140,000 | $138,000 | $136,000 | $134,000 | $132,000 | $130,000 | $128,000 | $126,000 |
| Total Liabilities | $172,000 | $179,043 | $179,297 | $171,989 | $182,670 | $188,110 | $209,911 | $168,848 | $177,167 | $186,520 | $176,738 | $171,813 | $171,601 |
| Paid-in Capital | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 | $70,000 |
| Retained Earnings | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) | ($58,000) |
| Earnings | $0 | $1,313 | $5,522 | $3,292 | $1,494 | $1,096 | $5,467 | $5,108 | $4,492 | $6,010 | $7,130 | $7,643 | $8,274 |
| Total Capital | $12,000 | $13,313 | $17,522 | $15,292 | $13,494 | $13,096 | $17,467 | $17,108 | $16,492 | $18,010 | $19,130 | $19,643 | $20,274 |
| Total Liabilities and Capital | $184,000 | $192,355 | $196,819 | $187,280 | $196,164 | $201,206 | $227,378 | $185,955 | $193,659 | $204,531 | $195,868 | $191,456 | $191,875 |
| Net Worth | $12,000 | $13,313 | $17,522 | $15,292 | $13,494 | $13,096 | $17,467 | $17,108 | $16,492 | $18,010 | $19,130 | $19,643 | $20,274 |
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