ToyLearn is a start-up company that has developed three types of educational toys. The products are called toys because they are fun and engaging to use. They are educational because they teach constructive skills to the users. ToyLearn will initially distribute the products within the USA, with future global distribution being considered.
2.1 Company Ownership
ToyLearn is a privately held Ohio S-Corp, the principal shareholders are Jen and David Funster.
2.2 Start-up Summary
The following items will be needed for the start-up of the business:
- Office supplies and equipment for three employees including desks, computers, cubicle dividers.
- Assorted equipment for prototyping such as electric circuit boards, molded plastics, speakers, and L.E.D. lights.
- Fax machine, telephones, printers.
|Research and Development||$5,000|
|Total Start-up Expenses||$13,400|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$13,400|
|Start-up Assets to Fund||$126,600|
|Total Funding Required||$140,000|
|Non-cash Assets from Start-up||$10,000|
|Cash Requirements from Start-up||$116,600|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$116,600|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Jen and David||$40,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$140,000|
|Loss at Start-up (Start-up Expenses)||($13,400)|
|Total Capital and Liabilities||$126,600|