Kiln Creek Bowling Center
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 | ||
| Unit Sales | |||||||||||||
| Open Bowling Games | 0% | 12,490 | 10,690 | 12,709 | 10,691 | 8,182 | 5,673 | 5,673 | 5,291 | 9,818 | 9,818 | 9,818 | 7,364 |
| League Bowling Games | 0% | 26,731 | 22,879 | 27,198 | 22,880 | 17,510 | 12,140 | 12,140 | 11,323 | 21,012 | 21,012 | 21,012 | 15,759 |
| Apparel/Pro Shop | 0% | 334 | 184 | 167 | 134 | 100 | 150 | 100 | 117 | 234 | 200 | 234 | 550 |
| Food and Beverage | 0% | 8,796 | 8,518 | 9,777 | 8,155 | 8,227 | 7,618 | 7,982 | 7,014 | 8,437 | 9,636 | 9,773 | 7,796 |
| Tournament | 0% | 550 | 550 | 270 | 150 | 100 | 400 | 800 | 50 | 80 | 300 | 450 | 300 |
| Special Events | 0% | 22 | 22 | 25 | 5 | 15 | 17 | 14 | 20 | 10 | 14 | 10 | 17 |
| Nursery | 0% | 800 | 867 | 950 | 833 | 567 | 267 | 267 | 250 | 500 | 567 | 567 | 567 |
| Billiards | 0% | 930 | 930 | 930 | 800 | 800 | 750 | 750 | 750 | 800 | 900 | 930 | 930 |
| Locker Rentals | 0% | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 |
| Arcade | 0% | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 |
| Advertisement | 0% | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| Shoe Rental | 0% | 2,350 | 2,550 | 2,250 | 1,350 | 1,150 | 1,200 | 1,050 | 1,250 | 1,750 | 2,250 | 2,350 | 2,100 |
| Total Unit Sales | 60,043 | 54,230 | 61,316 | 52,038 | 43,691 | 35,255 | 35,816 | 33,105 | 49,681 | 51,737 | 52,184 | 42,423 | |
| Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Open Bowling Games | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | $2.75 | |
| League Bowling Games | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | $2.57 | |
| Apparel/Pro Shop | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | |
| Food and Beverage | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | $5.50 | |
| Tournament | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | |
| Special Events | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | $300.00 | |
| Nursery | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | $1.50 | |
| Billiards | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | $8.00 | |
| Locker Rentals | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | $3.00 | |
| Arcade | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | |
| Advertisement | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | |
| Shoe Rental | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | $2.00 | |
| Sales | |||||||||||||
| Open Bowling Games | $34,348 | $29,398 | $34,950 | $29,400 | $22,501 | $15,601 | $15,601 | $14,550 | $27,000 | $27,000 | $27,000 | $20,251 | |
| League Bowling Games | $68,699 | $58,799 | $69,899 | $58,802 | $45,001 | $31,200 | $31,200 | $29,100 | $54,001 | $54,001 | $54,001 | $40,501 | |
| Apparel/Pro Shop | $10,020 | $5,520 | $5,010 | $4,020 | $3,000 | $4,500 | $3,000 | $3,510 | $7,020 | $6,000 | $7,020 | $16,500 | |
| Food and Beverage | $48,378 | $46,849 | $53,774 | $44,853 | $45,249 | $41,899 | $43,901 | $38,577 | $46,404 | $52,998 | $53,752 | $42,878 | |
| Tournament | $5,500 | $5,500 | $2,700 | $1,500 | $1,000 | $4,000 | $8,000 | $500 | $800 | $3,000 | $4,500 | $3,000 | |
| Special Events | $6,600 | $6,600 | $7,500 | $1,500 | $4,500 | $5,100 | $4,200 | $6,000 | $3,000 | $4,200 | $3,000 | $5,100 | |
| Nursery | $1,200 | $1,301 | $1,425 | $1,250 | $851 | $401 | $401 | $375 | $750 | $851 | $851 | $851 | |
| Billiards | $7,440 | $7,440 | $7,440 | $6,400 | $6,400 | $6,000 | $6,000 | $6,000 | $6,400 | $7,200 | $7,440 | $7,440 | |
| Locker Rentals | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | |
| Arcade | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | $1,600 | |
| Advertisement | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Shoe Rental | $4,700 | $5,100 | $4,500 | $2,700 | $2,300 | $2,400 | $2,100 | $2,500 | $3,500 | $4,500 | $4,700 | $4,200 | |
| Total Sales | $192,284 | $171,906 | $192,597 | $155,824 | $136,200 | $116,500 | $119,802 | $106,512 | $154,274 | $165,149 | $167,662 | $146,120 | |
| Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Open Bowling Games | 0.00% | $0.13 | $0.11 | $0.09 | $0.11 | $0.17 | $0.18 | $0.19 | $0.09 | $0.14 | $0.14 | $0.13 | $0.20 |
| League Bowling Games | 0.00% | $0.06 | $0.05 | $0.04 | $0.05 | $0.07 | $0.08 | $0.09 | $0.10 | $0.06 | $0.06 | $0.06 | $0.10 |
| Apparel/Pro Shop | 0.00% | $7.50 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Food and Beverage | 0.00% | $1.37 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Tournament | 0.00% | $0.30 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Special Events | 0.00% | $30.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Nursery | 0.00% | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Billiards | 0.00% | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Locker Rentals | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Arcade | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Advertisement | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shoe Rental | 0.00% | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Direct Cost of Sales | |||||||||||||
| Open Bowling Games | $1,624 | $1,176 | $1,144 | $1,144 | $1,391 | $1,021 | $1,078 | $476 | $1,375 | $1,375 | $1,276 | $1,473 | |
| League Bowling Games | $1,604 | $1,144 | $1,088 | $1,144 | $1,226 | $971 | $1,093 | $1,132 | $1,261 | $1,261 | $1,261 | $1,576 | |
| Apparel/Pro Shop | $2,505 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Food and Beverage | $12,051 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Tournament | $165 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Special Events | $660 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Nursery | $120 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Billiards | $140 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Locker Rentals | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Arcade | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Advertisement | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Shoe Rental | $353 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $19,220 | $2,320 | $2,232 | $2,288 | $2,617 | $1,992 | $2,170 | $1,608 | $2,635 | $2,635 | $2,537 | $3,049 | |
| 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 | ||
| Manager | 0% | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
| All Other Employees | 0% | $33,000 | $34,000 | $35,000 | $33,000 | $25,000 | $21,000 | $21,000 | $23,000 | $30,000 | $32,000 | $32,000 | $31,000 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total People | 50 | 50 | 50 | 50 | 35 | 30 | 30 | 30 | 35 | 50 | 50 | 50 | |
| Total Payroll | $39,000 | $40,000 | $41,000 | $39,000 | $31,000 | $27,000 | $27,000 | $29,000 | $36,000 | $38,000 | $38,000 | $37,000 | |
| 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 | 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 | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | 9.50% | |
| Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 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 | $192,284 | $171,906 | $192,597 | $155,824 | $136,200 | $116,500 | $119,802 | $106,512 | $154,274 | $165,149 | $167,662 | $146,120 | |
| Direct Cost of Sales | $19,220 | $2,320 | $2,232 | $2,288 | $2,617 | $1,992 | $2,170 | $1,608 | $2,635 | $2,635 | $2,537 | $3,049 | |
| Food and Beverage | $13,194 | $12,812 | $14,543 | $12,313 | $12,412 | $11,575 | $12,075 | $10,744 | $12,701 | $14,349 | $14,538 | $11,820 | |
| Total Cost of Sales | $32,414 | $15,132 | $16,775 | $14,601 | $15,029 | $13,567 | $14,245 | $12,352 | $15,336 | $16,984 | $17,075 | $14,869 | |
| Gross Margin | $159,870 | $156,774 | $175,822 | $141,223 | $121,172 | $102,933 | $105,557 | $94,160 | $138,938 | $148,165 | $150,587 | $131,251 | |
| Gross Margin % | 83.14% | 91.20% | 91.29% | 90.63% | 88.97% | 88.35% | 88.11% | 88.40% | 90.06% | 89.72% | 89.82% | 89.82% | |
| Expenses | |||||||||||||
| Payroll | $39,000 | $40,000 | $41,000 | $39,000 | $31,000 | $27,000 | $27,000 | $29,000 | $36,000 | $38,000 | $38,000 | $37,000 | |
| Sales and Marketing and Other Expenses | $13,590 | $12,740 | $12,215 | $9,650 | $12,325 | $10,750 | $8,810 | $15,580 | $14,940 | $13,520 | $12,680 | $14,040 | |
| Depreciation | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | $17,083 | |
| Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Utilities | $4,300 | $4,700 | $5,300 | $3,500 | $3,490 | $3,490 | $4,000 | $3,600 | $4,000 | $5,300 | $5,500 | $5,500 | |
| Insurance | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Rent | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Payroll Taxes | 15% | $5,850 | $6,000 | $6,150 | $5,850 | $4,650 | $4,050 | $4,050 | $4,350 | $5,400 | $5,700 | $5,700 | $5,550 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $81,823 | $82,523 | $83,748 | $77,083 | $70,548 | $64,373 | $62,943 | $71,613 | $79,423 | $81,603 | $80,963 | $81,173 | |
| Profit Before Interest and Taxes | $78,047 | $74,251 | $92,074 | $64,140 | $50,624 | $38,560 | $42,614 | $22,547 | $59,515 | $66,562 | $69,624 | $50,078 | |
| EBITDA | $95,130 | $91,334 | $109,157 | $81,223 | $67,707 | $55,643 | $59,697 | $39,630 | $76,598 | $83,645 | $86,707 | $67,161 | |
| Interest Expense | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | $23,750 | |
| Taxes Incurred | $16,289 | $12,625 | $17,081 | $10,097 | $6,718 | $3,702 | $4,716 | ($301) | $8,941 | $10,703 | $11,469 | $6,582 | |
| Net Profit | $38,008 | $37,876 | $51,243 | $30,292 | $20,155 | $11,107 | $14,148 | ($902) | $26,823 | $32,109 | $34,406 | $19,746 | |
| Net Profit/Sales | 19.77% | 22.03% | 26.61% | 19.44% | 14.80% | 9.53% | 11.81% | -0.85% | 17.39% | 19.44% | 20.52% | 13.51% | |
| 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 | $192,284 | $171,906 | $192,597 | $155,824 | $136,200 | $116,500 | $119,802 | $106,512 | $154,274 | $165,149 | $167,662 | $146,120 | |
| Subtotal Cash from Operations | $192,284 | $171,906 | $192,597 | $155,824 | $136,200 | $116,500 | $119,802 | $106,512 | $154,274 | $165,149 | $167,662 | $146,120 | |
| 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 | $192,284 | $171,906 | $192,597 | $155,824 | $136,200 | $116,500 | $119,802 | $106,512 | $154,274 | $165,149 | $167,662 | $146,120 | |
| 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 | $39,000 | $40,000 | $41,000 | $39,000 | $31,000 | $27,000 | $27,000 | $29,000 | $36,000 | $38,000 | $38,000 | $37,000 | |
| Bill Payments | $3,978 | $117,845 | $74,841 | $80,576 | $67,100 | $65,144 | $59,320 | $59,412 | $60,124 | $71,927 | $77,593 | $77,892 | |
| Subtotal Spent on Operations | $42,978 | $157,845 | $115,841 | $119,576 | $98,100 | $92,144 | $86,320 | $88,412 | $96,124 | $109,927 | $115,593 | $114,892 | |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| 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 | $42,978 | $157,845 | $115,841 | $119,576 | $98,100 | $92,144 | $86,320 | $88,412 | $96,124 | $109,927 | $115,593 | $114,892 | |
| Net Cash Flow | $149,306 | $14,061 | $76,756 | $36,247 | $38,100 | $24,356 | $33,482 | $18,101 | $58,150 | $55,222 | $52,070 | $31,228 | |
| Cash Balance | $414,306 | $428,367 | $505,123 | $541,371 | $579,471 | $603,827 | $637,308 | $655,409 | $713,559 | $768,781 | $820,851 | $852,079 | |
| 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 | $265,000 | $414,306 | $428,367 | $505,123 | $541,371 | $579,471 | $603,827 | $637,308 | $655,409 | $713,559 | $768,781 | $820,851 | $852,079 |
| Inventory | $0 | $21,142 | $18,822 | $16,591 | $14,303 | $11,686 | $9,694 | $7,523 | $5,915 | $3,279 | $2,899 | $2,791 | $3,354 |
| Other Current Assets | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 | $970,000 |
| Total Current Assets | $1,235,000 | $1,405,448 | $1,417,190 | $1,491,714 | $1,525,673 | $1,561,157 | $1,583,520 | $1,614,832 | $1,631,324 | $1,686,839 | $1,741,680 | $1,793,642 | $1,825,433 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 |
| Accumulated Depreciation | $0 | $17,083 | $34,166 | $51,249 | $68,332 | $85,415 | $102,498 | $119,581 | $136,664 | $153,747 | $170,830 | $187,913 | $204,996 |
| Total Long-term Assets | $3,000,000 | $2,982,917 | $2,965,834 | $2,948,751 | $2,931,668 | $2,914,585 | $2,897,502 | $2,880,419 | $2,863,336 | $2,846,253 | $2,829,170 | $2,812,087 | $2,795,004 |
| Total Assets | $4,235,000 | $4,388,365 | $4,383,024 | $4,440,465 | $4,457,341 | $4,475,742 | $4,481,022 | $4,495,251 | $4,494,660 | $4,533,092 | $4,570,850 | $4,605,729 | $4,620,437 |
| 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 | $115,357 | $72,140 | $78,338 | $64,922 | $63,167 | $57,340 | $57,421 | $57,732 | $69,341 | $74,991 | $75,463 | $70,425 |
| 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 | $115,357 | $72,140 | $78,338 | $64,922 | $63,167 | $57,340 | $57,421 | $57,732 | $69,341 | $74,991 | $75,463 | $70,425 |
| Long-term Liabilities | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 | $3,000,000 |
| Total Liabilities | $3,000,000 | $3,115,357 | $3,072,140 | $3,078,338 | $3,064,922 | $3,063,167 | $3,057,340 | $3,057,421 | $3,057,732 | $3,069,341 | $3,074,991 | $3,075,463 | $3,070,425 |
| Paid-in Capital | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 | $1,500,000 |
| Retained Earnings | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) | ($265,000) |
| Earnings | $0 | $38,008 | $75,884 | $127,127 | $157,420 | $177,575 | $188,682 | $202,830 | $201,927 | $228,751 | $260,860 | $295,265 | $315,012 |
| Total Capital | $1,235,000 | $1,273,008 | $1,310,884 | $1,362,127 | $1,392,420 | $1,412,575 | $1,423,682 | $1,437,830 | $1,436,927 | $1,463,751 | $1,495,860 | $1,530,265 | $1,550,012 |
| Total Liabilities and Capital | $4,235,000 | $4,388,365 | $4,383,024 | $4,440,465 | $4,457,341 | $4,475,742 | $4,481,022 | $4,495,251 | $4,494,660 | $4,533,092 | $4,570,850 | $4,605,729 | $4,620,437 |
| Net Worth | $1,235,000 | $1,273,008 | $1,310,884 | $1,362,127 | $1,392,420 | $1,412,575 | $1,423,682 | $1,437,830 | $1,436,927 | $1,463,751 | $1,495,860 | $1,530,265 | $1,550,012 |
By 
