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Sports Chiropractic Center

Executive Summary

The Pacific Valley Sport Medicine Center will soon open to serve the greater Southerlin metro area. Dr. John Meeks, a chiropractic doctor for six years with the Nichols Wellness Center, will be establishing his own practice in the Center.  Dr. Meeks is joining the Center that will have the city’s best and most respected sports injury specialists. His addition to the Center’s specialists was sought by the group of sport injury physicians that created the Center.

These physicians represent over 70% of Dr. Meeks referrals.  In his new practice, Dr. Meeks will be able to focus exclusively on sport injury referrals which will increase in his new location in the Center.

Chiropractic services business plan, executive summary chart image

1.1 Mission

The mission of Sports Chiropractic is to promote the well-being of the athletes in the Southerlin community by providing accessible, quality chiropractic care for athletes of all ages, utilizing a service system that emphasizes trust, respect, confidentiality, and compassion. We are committed to quality chiropractic care that is provided in a collaborative effort with a physician’s overall health strategies and an array of medical services. We are further committed to the philosophy that we exist for the customer/client.

1.2 Objectives

  • To continuously develop, strengthen, and improve chiropractic services offered by the Center.
  • To strengthen the Center’s commitment to chiropractic services.
  • Increase referrals from the Center’s physicians.
  • Build referral into repeat clients.
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Company Summary

Sports Chiropractic is a chiropractic practice started by Dr. John Meeks in the newly opened Pacific Valley Sport Medicine Center. Sports Chiropractics will provide quality chiropractic services to athletes of all ages and work in conjunction with the Center’s physicians.

2.1 Start-up Summary

It is estimated that start-up expenses will be $20,000. An additional amount of $25,000 will be required as start-up assets. The start-up costs are to be financed by Dr. Meeks personal funds.

Chiropractic services business plan, company summary chart image

Start-up
Requirements
Start-up Expenses
Legal $0
Stationery etc. $300
Brochures $500
Consultants $0
Insurance $800
Rent $1,500
Research and Development $0
Expensed Equipment $4,000
Leased Equipment $13,000
Other $0
Total Start-up Expenses $20,100
Start-up Assets
Cash Required $24,900
Other Current Assets $0
Long-term Assets $0
Total Assets $24,900
Total Requirements $45,000
Start-up Funding
Start-up Expenses to Fund $20,100
Start-up Assets to Fund $24,900
Total Funding Required $45,000
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $24,900
Additional Cash Raised $0
Cash Balance on Starting Date $24,900
Total Assets $24,900
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Dr. Meeks $45,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $45,000
Loss at Start-up (Start-up Expenses) ($20,100)
Total Capital $24,900
Total Capital and Liabilities $24,900
Total Funding $45,000

2.2 Company Ownership

Sports Chiropractic is owned by Dr. John Meeks.

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Services

Dr. Meeks’ philosophy is that optimal health and performance can be attained through the proper balance of exercise, nutrition, and care of the body’s framework (skeleton).  In addition, maintaining a state of good health depends on a normally functioning nervous system. The most important and delicate organs of this nervous system are supported and protected by the skull and spinal vertebrae, when misaligned these structures can irritate and interfere with the nerve impulses. As a doctor of chiropractic, he locates these points of interference and corrects the spinal misalignments, so the body can reestablish its balance and heal itself to the best of its ability.

Sports Chiropractic offers treatment for various conditions including, but not limited to:

  • Athletic injuries.
  • Low back and leg pain.
  • Neck and arm pain.
  • Headaches.
  • Shoulder, knee, and foot pain.
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Market Analysis Summary

The chiropractic field is a crowded one in any metro area and Southerlin is no exception.  There are over 60 chiropractors practicing in the greater Southerlin community. A majority are generalists with only a handful that specialize with a particular client group.  Dr. Meeks’ specialty is athletic injuries, especially runners. Southerlin has a large and committed running community.  Each year there are numerous running events the entire city participates in. In addition to runners, there are high school aged athletes that need treatment for sport injuries. The third large group of potential clients is the active baby-boomers who are becoming more athletic as they get older and want to be pain-free. 

4.1 Market Segmentation

Sports Chiropractic will focus on the following market segments:

  • Runners.
  • High school age athletes.
  • Active baby-boomers.
Chiropractic services business plan, market analysis summary chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Runners 15% 5,000 5,750 6,613 7,605 8,746 15.00%
High School Age Athletes 15% 4,000 4,600 5,290 6,084 6,997 15.00%
Active Baby-Boomers 10% 20,000 22,000 24,200 26,620 29,282 10.00%
Total 11.63% 29,000 32,350 36,103 40,309 45,025 11.63%

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Strategy and Implementation Summary

Sports Chiropractic is uniquely positioned to be successful in treating sports injuries.  The following subsections will outline these advantages.

5.1 Competitive Edge

Dr. Meeks, an avid runner, is one of the most visible sport injury specialists in Southerlin.  He supports the city’s numerous charity runs and has spoken to many athletic groups and organizations about preventing sport injuries. 

Dr. Meeks has also developed an extensive network of contact with physicians that specialize in sport injuries.  Over half of his referrals come from these doctors.  This is a strong competitive edge with competitors. In addition, his strong reputation for exceptional service has resulted in growing base of loyal clients who will follow to his new practice.

But the strongest competitive advantage for Sports Chiropractic is that it is the only chiropractic service in the Pacific Valley Sport Medicine Center.  As stated before, this center will become the dominant service provider for sport injuries. Dr. Meeks will become the chiropractor to see with a sport-related injury.

 

5.2 Marketing Strategy

Though Sports Chiropractic has a strong referral base for clients, it will still be important to market Dr. Meeks services.

Dr. Meeks will continue to speak to local groups on preventing sport injuries. The key is to keep Dr. Meeks in the public as the sports injury expert.

In addition, Sports Chiropractic will sponsor an annual run in the city in support of high school athletics.

5.3 Sales Forecast

The following table and chart highlight the sales forecast for three years.

Chiropractic services business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Clients $138,000 $151,800 $166,980
Other $0 $0 $0
Total Sales $138,000 $151,800 $166,980
Direct Cost of Sales Year 1 Year 2 Year 3
Clients $0 $0 $0
Other $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0

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Personnel Plan

The Sports Chiropractic staff will consist of Dr. Meeks, one full-time receptionist/clerical staff member and a half-time bookkeeper.

Personnel Plan
Year 1 Year 2 Year 3
Dr. Meeks $48,000 $58,000 $68,000
Receptionist/Clerical $24,000 $28,000 $33,000
Bookkeeper $13,500 $15,000 $17,000
Other $0 $0 $0
Total People 3 3 0
Total Payroll $85,500 $101,000 $118,000

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Financial Plan

The following is the financial plan for Sports Chiropractic.

7.1 Break-even Analysis

The monthly sales break-even point is shown in the following table and chart.

Sbp, chiropractic services business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $10,244
Assumptions:
Average Percent Variable Cost 0%
Estimated Monthly Fixed Cost $10,244

7.2 Projected Profit and Loss

The following is the projected profit and loss for three years.

Sbp, chiropractic services business plan, financial plan chart image

Sbp, chiropractic services business plan, financial plan chart image

Sbp, chiropractic services business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $138,000 $151,800 $166,980
Direct Cost of Sales $0 $0 $0
Other Production Expenses $0 $0 $0
Total Cost of Sales $0 $0 $0
Gross Margin $138,000 $151,800 $166,980
Gross Margin % 100.00% 100.00% 100.00%
Expenses
Payroll $85,500 $101,000 $118,000
Sales and Marketing and Other Expenses $4,800 $5,000 $5,000
Depreciation $0 $0 $0
Leased Equipment $0 $0 $0
Utilities $0 $0 $150
Insurance $1,800 $1,800 $1,800
Rent $18,000 $18,000 $1,800
Payroll Taxes $12,825 $15,150 $17,700
Other $0 $0 $0
Total Operating Expenses $122,925 $140,950 $144,450
Profit Before Interest and Taxes $15,075 $10,850 $22,530
EBITDA $15,075 $10,850 $22,530
Interest Expense $0 $0 $0
Taxes Incurred $4,523 $3,255 $6,759
Net Profit $10,553 $7,595 $15,771
Net Profit/Sales 7.65% 5.00% 9.44%

7.3 Projected Cash Flow

The following is the projected cash flow for three years.

Sbp, chiropractic services business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $138,000 $151,800 $166,980
Subtotal Cash from Operations $138,000 $151,800 $166,980
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
Subtotal Cash Received $138,000 $151,800 $166,980
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $85,500 $101,000 $118,000
Bill Payments $37,914 $43,687 $34,031
Subtotal Spent on Operations $123,414 $144,687 $152,031
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $123,414 $144,687 $152,031
Net Cash Flow $14,586 $7,113 $14,949
Cash Balance $39,486 $46,599 $61,548

7.4 Projected Balance Sheet

The following is the projected balance sheet for three years.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $39,486 $46,599 $61,548
Other Current Assets $0 $0 $0
Total Current Assets $39,486 $46,599 $61,548
Long-term Assets
Long-term Assets $0 $0 $0
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $0 $0 $0
Total Assets $39,486 $46,599 $61,548
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $4,033 $3,551 $2,730
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $4,033 $3,551 $2,730
Long-term Liabilities $0 $0 $0
Total Liabilities $4,033 $3,551 $2,730
Paid-in Capital $45,000 $45,000 $45,000
Retained Earnings ($20,100) ($9,548) ($1,953)
Earnings $10,553 $7,595 $15,771
Total Capital $35,453 $43,048 $58,819
Total Liabilities and Capital $39,486 $46,599 $61,548
Net Worth $35,453 $43,048 $58,819

7.5 Business Ratios

The following table outlines some of the more important ratios from the Offices of Physicians industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, 8011.

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 10.00% 10.00% 5.90%
Percent of Total Assets
Other Current Assets 0.00% 0.00% 0.00% 50.50%
Total Current Assets 100.00% 100.00% 100.00% 60.80%
Long-term Assets 0.00% 0.00% 0.00% 39.20%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 10.21% 7.62% 4.43% 39.80%
Long-term Liabilities 0.00% 0.00% 0.00% 14.10%
Total Liabilities 10.21% 7.62% 4.43% 53.90%
Net Worth 89.79% 92.38% 95.57% 46.10%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 100.00% 100.00% 100.00% 0.00%
Selling, General & Administrative Expenses 92.35% 95.00% 90.56% 57.10%
Advertising Expenses 3.48% 3.29% 2.99% 0.40%
Profit Before Interest and Taxes 10.92% 7.15% 13.49% 2.00%
Main Ratios
Current 9.79 13.12 22.55 1.37
Quick 9.79 13.12 22.55 1.12
Total Debt to Total Assets 10.21% 7.62% 4.43% 53.90%
Pre-tax Return on Net Worth 42.52% 25.20% 38.30% 6.90%
Pre-tax Return on Assets 38.18% 23.28% 36.61% 15.00%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 7.65% 5.00% 9.44% n.a
Return on Equity 29.77% 17.64% 26.81% n.a
Activity Ratios
Accounts Payable Turnover 10.40 12.17 12.17 n.a
Payment Days 27 32 35 n.a
Total Asset Turnover 3.49 3.26 2.71 n.a
Debt Ratios
Debt to Net Worth 0.11 0.08 0.05 n.a
Current Liab. to Liab. 1.00 1.00 1.00 n.a
Liquidity Ratios
Net Working Capital $35,453 $43,048 $58,819 n.a
Interest Coverage 0.00 0.00 0.00 n.a
Additional Ratios
Assets to Sales 0.29 0.31 0.37 n.a
Current Debt/Total Assets 10% 8% 4% n.a
Acid Test 9.79 13.12 22.55 n.a
Sales/Net Worth 3.89 3.53 2.84 n.a
Dividend Payout 0.00 0.00 0.00 n.a

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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
Clients 0% $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
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
Clients $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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
Dr. Meeks 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
Receptionist/Clerical 0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Bookkeeper 0% $0 $0 $0 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 3 3 3 3 3 3 3 3 3 3 3 3
Total Payroll $6,000 $6,000 $6,000 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500

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 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Gross Margin $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
Gross Margin % 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Expenses
Payroll $6,000 $6,000 $6,000 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500
Sales and Marketing and Other Expenses $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Insurance 15000% $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Payroll Taxes 15% $900 $900 $900 $1,125 $1,125 $1,125 $1,125 $1,125 $1,125 $1,125 $1,125 $1,125
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $8,950 $8,950 $8,950 $10,675 $10,675 $10,675 $10,675 $10,675 $10,675 $10,675 $10,675 $10,675
Profit Before Interest and Taxes ($1,950) ($950) $50 ($675) $325 $1,325 $1,325 $2,325 $3,325 $3,325 $3,325 $3,325
EBITDA ($1,950) ($950) $50 ($675) $325 $1,325 $1,325 $2,325 $3,325 $3,325 $3,325 $3,325
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred ($585) ($285) $15 ($203) $98 $398 $398 $698 $998 $998 $998 $998
Net Profit ($1,365) ($665) $35 ($473) $228 $928 $928 $1,628 $2,328 $2,328 $2,328 $2,328
Net Profit/Sales -19.50% -8.31% 0.39% -4.72% 2.07% 7.73% 7.73% 12.52% 16.63% 16.63% 16.63% 16.63%

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 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
Subtotal Cash from Operations $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
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 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $12,000 $13,000 $14,000 $14,000 $14,000 $14,000
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 $6,000 $6,000 $6,000 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500
Bill Payments $79 $2,375 $2,675 $2,965 $2,983 $3,283 $3,573 $3,583 $3,883 $4,173 $4,173 $4,173
Subtotal Spent on Operations $6,079 $8,375 $8,675 $10,465 $10,483 $10,783 $11,073 $11,083 $11,383 $11,673 $11,673 $11,673
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 $6,079 $8,375 $8,675 $10,465 $10,483 $10,783 $11,073 $11,083 $11,383 $11,673 $11,673 $11,673
Net Cash Flow $921 ($375) $325 ($465) $518 $1,218 $928 $1,918 $2,618 $2,328 $2,328 $2,328
Cash Balance $25,821 $25,446 $25,771 $25,306 $25,823 $27,041 $27,968 $29,886 $32,503 $34,831 $37,158 $39,486
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 $24,900 $25,821 $25,446 $25,771 $25,306 $25,823 $27,041 $27,968 $29,886 $32,503 $34,831 $37,158 $39,486
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $24,900 $25,821 $25,446 $25,771 $25,306 $25,823 $27,041 $27,968 $29,886 $32,503 $34,831 $37,158 $39,486
Long-term Assets
Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Assets $24,900 $25,821 $25,446 $25,771 $25,306 $25,823 $27,041 $27,968 $29,886 $32,503 $34,831 $37,158 $39,486
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 $2,286 $2,576 $2,866 $2,873 $3,163 $3,453 $3,453 $3,743 $4,033 $4,033 $4,033 $4,033
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 $2,286 $2,576 $2,866 $2,873 $3,163 $3,453 $3,453 $3,743 $4,033 $4,033 $4,033 $4,033
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $2,286 $2,576 $2,866 $2,873 $3,163 $3,453 $3,453 $3,743 $4,033 $4,033 $4,033 $4,033
Paid-in Capital $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000 $45,000
Retained Earnings ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100) ($20,100)
Earnings $0 ($1,365) ($2,030) ($1,995) ($2,468) ($2,240) ($1,313) ($385) $1,243 $3,570 $5,898 $8,225 $10,553
Total Capital $24,900 $23,535 $22,870 $22,905 $22,433 $22,660 $23,588 $24,515 $26,143 $28,470 $30,798 $33,125 $35,453
Total Liabilities and Capital $24,900 $25,821 $25,446 $25,771 $25,306 $25,823 $27,041 $27,968 $29,886 $32,503 $34,831 $37,158 $39,486
Net Worth $24,900 $23,535 $22,870 $22,905 $22,433 $22,660 $23,588 $24,515 $26,143 $28,470 $30,798 $33,125 $35,453

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