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F and R Auto Repair

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
Routine maintenance 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Small repair jobs 0% $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500
Large repair jobs 0% $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500
Total Sales $13,300 $13,300 $13,300 $13,300 $13,300 $13,300 $16,500 $16,500 $16,500 $16,500 $16,500 $16,500
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
Routine maintenance $400 $400 $400 $400 $400 $400 $450 $450 $450 $450 $450 $450
Small repair jobs $450 $450 $450 $450 $450 $450 $550 $550 $550 $550 $550 $550
Large repair jobs $480 $480 $480 $480 $480 $480 $650 $650 $650 $650 $650 $650
Subtotal Direct Cost of Sales $1,330 $1,330 $1,330 $1,330 $1,330 $1,330 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650
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
Mr. Ford 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Mr. Ronald 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Office manager (part time) 0% $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
Apprentice mechanic (part time) 0% $0 $0 $0 $0 $0 $0 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150
Apprentice mechanic (part time) 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Apprentice mechanic (part time) 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 3 3 3 3 3 3 4 4 4 4 4 4
Total Payroll $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $8,350 $8,350 $8,350 $8,350 $8,350 $8,350

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 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
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% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
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 $13,300 $13,300 $13,300 $13,300 $13,300 $13,300 $16,500 $16,500 $16,500 $16,500 $16,500 $16,500
Direct Cost of Sales $1,330 $1,330 $1,330 $1,330 $1,330 $1,330 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $1,330 $1,330 $1,330 $1,330 $1,330 $1,330 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650
Gross Margin $11,970 $11,970 $11,970 $11,970 $11,970 $11,970 $14,850 $14,850 $14,850 $14,850 $14,850 $14,850
Gross Margin % 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00%
Expenses
Payroll $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $8,350 $8,350 $8,350 $8,350 $8,350 $8,350
Sales and Marketing and Other Expenses $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Depreciation $166 $166 $166 $166 $166 $166 $166 $166 $166 $166 $166 $166
Leased Equipment $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Utilities $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Insurance $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
Rent $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Payroll Taxes 15% $1,080 $1,080 $1,080 $1,080 $1,080 $1,080 $1,253 $1,253 $1,253 $1,253 $1,253 $1,253
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $12,446 $12,446 $12,446 $12,446 $12,446 $12,446 $13,769 $13,769 $13,769 $13,769 $13,769 $13,769
Profit Before Interest and Taxes ($476) ($476) ($476) ($476) ($476) ($476) $1,082 $1,082 $1,082 $1,082 $1,082 $1,082
EBITDA ($310) ($310) ($310) ($310) ($310) ($310) $1,248 $1,248 $1,248 $1,248 $1,248 $1,248
Interest Expense $165 $164 $162 $161 $160 $158 $157 $156 $154 $153 $151 $150
Taxes Incurred ($192) ($192) ($192) ($191) ($191) ($190) $277 $278 $278 $279 $279 $279
Net Profit ($449) ($448) ($447) ($446) ($445) ($444) $647 $648 $649 $650 $651 $652
Net Profit/Sales -3.38% -3.37% -3.36% -3.35% -3.35% -3.34% 3.92% 3.93% 3.93% 3.94% 3.95% 3.95%

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 $11,970 $11,970 $11,970 $11,970 $11,970 $11,970 $14,850 $14,850 $14,850 $14,850 $14,850 $14,850
Cash from Receivables $0 $44 $1,330 $1,330 $1,330 $1,330 $1,330 $1,341 $1,650 $1,650 $1,650 $1,650
Subtotal Cash from Operations $11,970 $12,014 $13,300 $13,300 $13,300 $13,300 $16,180 $16,191 $16,500 $16,500 $16,500 $16,500
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 $11,970 $12,014 $13,300 $13,300 $13,300 $13,300 $16,180 $16,191 $16,500 $16,500 $16,500 $16,500
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 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $8,350 $8,350 $8,350 $8,350 $8,350 $8,350
Bill Payments $262 $7,797 $6,382 $6,381 $6,380 $6,379 $6,422 $7,677 $7,336 $7,335 $7,334 $7,333
Subtotal Spent on Operations $7,462 $14,997 $13,582 $13,581 $13,580 $13,579 $14,772 $16,027 $15,686 $15,685 $15,684 $15,683
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
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 $7,628 $15,164 $13,749 $13,748 $13,747 $13,746 $14,938 $16,194 $15,852 $15,852 $15,851 $15,850
Net Cash Flow $4,342 ($3,149) ($449) ($448) ($447) ($446) $1,242 ($3) $648 $648 $649 $650
Cash Balance $7,242 $4,092 $3,644 $3,196 $2,750 $2,304 $3,546 $3,543 $4,190 $4,839 $5,488 $6,138
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 $2,900 $7,242 $4,092 $3,644 $3,196 $2,750 $2,304 $3,546 $3,543 $4,190 $4,839 $5,488 $6,138
Accounts Receivable $0 $1,330 $2,616 $2,616 $2,616 $2,616 $2,616 $2,936 $3,245 $3,245 $3,245 $3,245 $3,245
Inventory $0 $1,463 $1,463 $1,463 $1,463 $1,463 $1,463 $1,815 $1,815 $1,815 $1,815 $1,815 $1,815
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $2,900 $10,035 $8,171 $7,722 $7,275 $6,828 $6,383 $8,296 $8,603 $9,250 $9,899 $10,548 $11,198
Long-term Assets
Long-term Assets $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000
Accumulated Depreciation $0 $166 $332 $498 $664 $830 $996 $1,162 $1,328 $1,494 $1,660 $1,826 $1,992
Total Long-term Assets $20,000 $19,834 $19,668 $19,502 $19,336 $19,170 $19,004 $18,838 $18,672 $18,506 $18,340 $18,174 $18,008
Total Assets $22,900 $29,869 $27,839 $27,224 $26,611 $25,998 $25,387 $27,134 $27,275 $27,756 $28,239 $28,722 $29,206
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 $7,584 $6,169 $6,168 $6,167 $6,166 $6,165 $7,433 $7,091 $7,090 $7,089 $7,088 $7,088
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $7,584 $6,169 $6,168 $6,167 $6,166 $6,165 $7,433 $7,091 $7,090 $7,089 $7,088 $7,088
Long-term Liabilities $20,000 $19,833 $19,667 $19,500 $19,333 $19,167 $19,000 $18,833 $18,667 $18,500 $18,333 $18,167 $18,000
Total Liabilities $20,000 $27,418 $25,836 $25,668 $25,501 $25,333 $25,165 $26,266 $25,758 $25,590 $25,423 $25,255 $25,088
Paid-in Capital $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Retained Earnings ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100) ($9,100)
Earnings $0 ($449) ($897) ($1,344) ($1,790) ($2,235) ($2,679) ($2,032) ($1,383) ($734) ($84) $567 $1,219
Total Capital $2,900 $2,451 $2,003 $1,556 $1,110 $665 $221 $868 $1,517 $2,166 $2,816 $3,467 $4,119
Total Liabilities and Capital $22,900 $29,869 $27,839 $27,224 $26,611 $25,998 $25,387 $27,134 $27,275 $27,756 $28,239 $28,722 $29,206
Net Worth $2,900 $2,451 $2,003 $1,556 $1,110 $665 $221 $868 $1,517 $2,166 $2,816 $3,467 $4,119