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Magnolia Inn

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
Reservations 0% $18,000 $20,000 $24,482 $24,727 $24,974 $25,224 $25,476 $25,731 $25,989 $26,248 $26,511 $26,776
Drop-ins 0% $2,000 $3,000 $4,080 $4,121 $4,162 $4,204 $4,246 $4,289 $4,331 $4,375 $4,418 $4,463
Total Sales $20,000 $23,000 $28,563 $28,848 $29,137 $29,428 $29,723 $30,020 $30,320 $30,623 $30,929 $31,239
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
Reservations $900 $1,000 $1,224 $1,236 $1,249 $1,261 $1,274 $1,287 $1,299 $1,312 $1,326 $1,339
Drop-ins $100 $150 $204 $206 $208 $210 $212 $214 $217 $219 $221 $223
Subtotal Direct Cost of Sales $1,000 $1,150 $1,428 $1,442 $1,457 $1,471 $1,486 $1,501 $1,516 $1,531 $1,546 $1,562
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
Owners 0% $3,000 $4,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Full time Staff 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Total People 4 4 4 4 4 4 4 4 4 4 4 4
Total Payroll $7,000 $8,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000

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 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50% 9.50%
Long-term Interest Rate 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50%
Tax Rate 30.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%
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 $20,000 $23,000 $28,563 $28,848 $29,137 $29,428 $29,723 $30,020 $30,320 $30,623 $30,929 $31,239
Direct Cost of Sales $1,000 $1,150 $1,428 $1,442 $1,457 $1,471 $1,486 $1,501 $1,516 $1,531 $1,546 $1,562
Other Costs of Sales $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 Cost of Sales $2,000 $2,150 $2,428 $2,442 $2,457 $2,471 $2,486 $2,501 $2,516 $2,531 $2,546 $2,562
Gross Margin $18,000 $20,850 $26,135 $26,406 $26,680 $26,957 $27,236 $27,519 $27,804 $28,092 $28,383 $28,677
Gross Margin % 90.00% 90.65% 91.50% 91.53% 91.57% 91.60% 91.64% 91.67% 91.70% 91.73% 91.77% 91.80%
Expenses
Payroll $7,000 $8,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000
Sales and Marketing and Other Expenses $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rent $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Utilities $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Insurance $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Payroll Taxes 15% $1,050 $1,200 $1,350 $1,350 $1,350 $1,350 $1,350 $1,350 $1,350 $1,350 $1,350 $1,350
Other $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 Operating Expenses $15,550 $16,700 $17,850 $17,850 $17,850 $17,850 $17,850 $17,850 $17,850 $17,850 $17,850 $17,850
Profit Before Interest and Taxes $2,450 $4,150 $8,285 $8,556 $8,830 $9,107 $9,386 $9,669 $9,954 $10,242 $10,533 $10,827
EBITDA $2,450 $4,150 $8,285 $8,556 $8,830 $9,107 $9,386 $9,669 $9,954 $10,242 $10,533 $10,827
Interest Expense $2,499 $2,497 $2,496 $2,494 $2,493 $2,491 $2,490 $2,488 $2,487 $2,485 $2,483 $2,482
Taxes Incurred ($15) $463 $1,621 $1,697 $1,774 $1,852 $1,931 $2,011 $2,091 $2,172 $2,254 $2,337
Net Profit ($34) $1,190 $4,168 $4,364 $4,563 $4,763 $4,966 $5,170 $5,377 $5,585 $5,796 $6,008
Net Profit/Sales -0.17% 5.17% 14.59% 15.13% 15.66% 16.19% 16.71% 17.22% 17.73% 18.24% 18.74% 19.23%

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 $20,000 $23,000 $28,563 $28,848 $29,137 $29,428 $29,723 $30,020 $30,320 $30,623 $30,929 $31,239
Subtotal Cash from Operations $20,000 $23,000 $28,563 $28,848 $29,137 $29,428 $29,723 $30,020 $30,320 $30,623 $30,929 $31,239
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 $20,000 $23,000 $28,563 $28,848 $29,137 $29,428 $29,723 $30,020 $30,320 $30,623 $30,929 $31,239
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 $7,000 $8,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000
Bill Payments $434 $13,060 $13,863 $15,398 $15,487 $15,577 $15,668 $15,760 $15,853 $15,947 $16,041 $16,137
Subtotal Spent on Operations $7,434 $21,060 $22,863 $24,398 $24,487 $24,577 $24,668 $24,760 $24,853 $24,947 $25,041 $25,137
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 $212 $214 $215 $217 $218 $220 $221 $223 $224 $226 $228 $229
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 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Subtotal Cash Spent $8,147 $21,774 $23,578 $25,114 $25,205 $25,297 $25,389 $25,483 $25,577 $25,672 $25,769 $25,866
Net Cash Flow $11,853 $1,226 $4,985 $3,734 $3,932 $4,132 $4,333 $4,537 $4,743 $4,951 $5,161 $5,373
Cash Balance $17,853 $19,080 $24,065 $27,799 $31,730 $35,862 $40,195 $44,732 $49,475 $54,426 $59,586 $64,959
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 $6,000 $17,853 $19,080 $24,065 $27,799 $31,730 $35,862 $40,195 $44,732 $49,475 $54,426 $59,586 $64,959
Other Current Assets $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Total Current Assets $16,000 $27,853 $29,080 $34,065 $37,799 $41,730 $45,862 $50,195 $54,732 $59,475 $64,426 $69,586 $74,959
Long-term Assets
Long-term Assets $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Long-term Assets $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000 $370,000
Total Assets $386,000 $397,853 $399,080 $404,065 $407,799 $411,730 $415,862 $420,195 $424,732 $429,475 $434,426 $439,586 $444,959
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 $12,600 $13,350 $14,882 $14,968 $15,055 $15,143 $15,232 $15,321 $15,412 $15,503 $15,596 $15,689
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 $12,600 $13,350 $14,882 $14,968 $15,055 $15,143 $15,232 $15,321 $15,412 $15,503 $15,596 $15,689
Long-term Liabilities $353,000 $352,788 $352,574 $352,359 $352,143 $351,925 $351,705 $351,484 $351,261 $351,037 $350,811 $350,583 $350,354
Total Liabilities $353,000 $365,388 $365,924 $367,241 $367,111 $366,980 $366,848 $366,716 $366,582 $366,449 $366,314 $366,179 $366,043
Paid-in Capital $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000 $65,000
Retained Earnings ($32,000) ($32,500) ($33,000) ($33,500) ($34,000) ($34,500) ($35,000) ($35,500) ($36,000) ($36,500) ($37,000) ($37,500) ($38,000)
Earnings $0 ($34) $1,156 $5,324 $9,688 $14,251 $19,014 $23,980 $29,150 $34,526 $40,112 $45,907 $51,916
Total Capital $33,000 $32,466 $33,156 $36,824 $40,688 $44,751 $49,014 $53,480 $58,150 $63,026 $68,112 $73,407 $78,916
Total Liabilities and Capital $386,000 $397,853 $399,080 $404,065 $407,799 $411,730 $415,862 $420,195 $424,732 $429,475 $434,426 $439,586 $444,959
Net Worth $33,000 $32,466 $33,156 $36,824 $40,688 $44,751 $49,014 $53,480 $58,150 $63,026 $68,112 $73,407 $78,916