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Todd, West, and Associates

Executive Summary

Todd, West, and Associates specializes in modifications to inventory management systems of all types. The company’s connectivity and network engineering expertise assures a complete wireless solution to warehouse management issues. Todd, West, and Associates has over fifteen years of experience within the ADC (Automated Data Collection) marketplace.

Prior to starting this new company, the staff of Todd, West, and Associates worked within the industry’s major companies performing special wireless modification for customers. Their unique perspective has already led to two of the industry leaders, Symbol and CDS, outsourcing special modification orders to Todd, West, and Associates.

Computer engineering business plan, executive summary chart image

1.1 Objectives

The objectives of Todd, West, and Associates are as follows:

  • Establish the company as a leader in warehouse wireless connectivity.
  • Increase client base by 20% each year.
  • Develop packaged solutions for warehouse management systems.

1.2 Mission

The mission of Todd, West, and Associates is to work directly with customers to improve their warehouse management systems. The development, modification, and/or improvement of warehouse data infrastructure will assure that the business will function efficiently and successfully.

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Company Summary

Todd, West, and Associates is a new start-up engineering contracting firm. Co-owners, Mary Todd and John West have over fifteen years of experience in connectivity and network engineering. The country’s economic growth over the last several years has resulted in increased opportunity for the installation of high-end warehouse management systems. Todd, West, and Associates is positioned to capitalize on the growing need of companies to better manage their inventory.

From 1996 to 2001, Mary Todd was senior engineer for the Special Modification Services unit of CDS, one of the country’s leading producers of Automatic Data Collection (ADC) products. Her primary responsibility was to travel to the customer’s warehouse site and perform custom wireless network modifications using CDS products.

John West has been a senior engineer for Symbol’s system installation services unit for the past five years. John’s responsibilities included custom wireless installation of Symbol networking equipment and ADC products at the customer’s warehouse site.

Todd, West, and Associates has signed outsourcing agreements with both CDS and Symbol to provide custom network installation services to their customers. Currently, these agreements represent $100,000 in scheduled assignments.

2.1 Company Ownership

Mary Todd and John West are co-owners of Todd, West, and Associates.

2.2 Start-up Summary

Mary Todd and John West will each equally invest in Todd, West, and Associates. In addition, they will secure a long-term loan. The following table and chart show projected initial start-up costs for Todd, West, and Associates.

Computer engineering business plan, company summary chart image

Start-up Funding
Start-up Expenses to Fund $9,000
Start-up Assets to Fund $61,000
Total Funding Required $70,000
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $61,000
Additional Cash Raised $0
Cash Balance on Starting Date $61,000
Total Assets $61,000
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $50,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $50,000
Capital
Planned Investment
Mary Todd $10,000
John West $10,000
Additional Investment Requirement $0
Total Planned Investment $20,000
Loss at Start-up (Start-up Expenses) ($9,000)
Total Capital $11,000
Total Capital and Liabilities $61,000
Total Funding $70,000
Start-up
Requirements
Start-up Expenses
Legal $1,000
Stationery etc. $1,000
Rent $1,000
Expensed Equipment $6,000
Total Start-up Expenses $9,000
Start-up Assets
Cash Required $61,000
Other Current Assets $0
Long-term Assets $0
Total Assets $61,000
Total Requirements $70,000

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Services

Todd, West, and Associates’ services include the following:

  • Automated data collection installation
  • Database engineering/conversions (MS Access/SQL/Oracle)
  • Data imports/exports
  • Database links to accounting system (MAS-90/Solomon/Peachtree)
  • Wireless networking
  • Portable data terminal programming
  • LAN/WAN infrastructure
  • System consulting

The prices for services are as follows:

  • On-site System Requirements Study: $1,000 a day plus travel and expenses.
  • On-site Database/Network Engineering/Training: $1,000 a day plus travel and expenses.
  • Phone Training/Assistance: $120 an hour.
  • Database Modifications: Quoted based on job specifics.
  • General Data Imports/Exports: $120 an hour.
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Market Segmentation

Automated Data Collection (ADC) products and services is a $3 billion industry. The products are used in numerous companies with significant inventory and warehouse space. Approximately, 30% of the market is in wireless products and services but the demand is growing. It is estimated that wireless ADC products will dominate the market by 2005. Two of the industry leaders, Symbol and CDS, exceeded $600 million in sales for FY 2000. Wireless products represented 28% of their total sales.

Typically, with the installation of wireless products, there are associated costs for networking and connectivity issues. Most companies in the industry offer these additional services to their customers or outsource the service to engineering firms with expertise in their product line.

Todd, West, and Associates has extensive experience with both Symbol and CDS products. The company’s focus is to first meet the demands of the Symbol and CDS referred customers. Todd, West, and Associates will establish relationships with these companies and will work to receive referral business from them over time. The company estimates that 80% of revenues will come from outsourced clientele and 20% from new business. Over the next three years, Todd, West, and Associates estimates that new business will constitute 40% of revenue.

Computer engineering business plan, market segmentation chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Outsourced Customers 10% 2,000 2,200 2,420 2,662 2,928 10.00%
New Customers 5% 10,000 10,500 11,025 11,576 12,155 5.00%
Total 5.88% 12,000 12,700 13,445 14,238 15,083 5.88%

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Strategy and Implementation Summary

Todd, West, and Associates will focus on companies utilizing Symbol and CDS wireless ADC products to manage their inventories. The targeted customer will have ten or more warehouse staff members using ADC wireless systems.

Initially, the company will receive 80% of its clients through Symbol and CDS outsource referrals. The remaining 20% will come from direct marketing.

Over the past five years, both Mary and John have built an extensive network of contacts with companies utilizing wireless ADC products. Todd, West, and Associates will market its services directly to these companies.

After its first three months of operation, the company expects to begin to receive installation contracts from new customers.

5.1 Competitive Edge

Todd, West, and Associates will sustain its competitive advantages to steadily gain market share. The first advantage is based on extensive knowledge of Symbol and CDS wireless ADC products. The second advantage is an established network of contacts among numerous companies that utilize wireless ADC products.

Todd, West, and Associates’ competitive edge is the five years Mary and John have spent installing Symbol and CDS wireless ADC systems. Both have excellent reputations with customers for quality work and effective communication skills. These established relationships create a trust bond that is significant when it comes to generating new referrals.

5.2 Sales Strategy

Todd, West, and Associates estimates that about 80% of revenues will come from outsourced clientele and 20% from new business. Over the next three years, Todd, West, and Associates estimates that new business will grow to eventually constitute 40% of revenue.

5.2.1 Sales Forecast

The following is the sales forecast for the next three years.

Computer engineering business plan, strategy and implementation summary chart image

Computer engineering business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Symbol and CDS Customers $283,377 $310,000 $330,000
New Customers $57,200 $78,000 $100,000
Total Sales $340,577 $388,000 $430,000
Direct Cost of Sales Year 1 Year 2 Year 3
Symbol and CDS Customers $0 $0 $0
New Customers $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0

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Management Summary

Todd, West, and Associates will be managed jointly by Mary Todd and John West. Initially, the company will have only three additional employees.

6.1 Personnel Plan

The personal plan for Todd, West, and Associates is as follows:

  • Mary Todd
  • John West
  • Installation consultants (wireless installations)
  • Office manager
Personnel Plan
Year 1 Year 2 Year 3
Mary Todd $60,000 $63,000 $66,000
John West $60,000 $63,000 $66,000
Installation Consultants $96,000 $100,000 $104,000
Office Manager $36,000 $38,000 $40,000
Total People 4 4 4
Total Payroll $252,000 $264,000 $276,000

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Financial Plan

The following is the financial plan for Todd, West, and Associates.

7.1 Break-even Analysis

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

Computer engineering business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $25,450
Assumptions:
Average Percent Variable Cost 0%
Estimated Monthly Fixed Cost $25,450

7.2 Projected Profit and Loss

The following table and charts highlight the projected profit and loss for the next three years.

Computer engineering business plan, financial plan chart image

Computer engineering business plan, financial plan chart image

Computer engineering business plan, financial plan chart image

Computer engineering business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $340,577 $388,000 $430,000
Direct Cost of Sales $0 $0 $0
Other Production Expenses $0 $0 $0
Total Cost of Sales $0 $0 $0
Gross Margin $340,577 $388,000 $430,000
Gross Margin % 100.00% 100.00% 100.00%
Expenses
Payroll $252,000 $264,000 $276,000
Sales and Marketing and Other Expenses $0 $0 $0
Depreciation $0 $0 $0
Leased Equipment $0 $0 $0
Utilities $3,600 $3,600 $3,600
Insurance $0 $0 $0
Rent $12,000 $12,000 $12,000
Payroll Taxes $37,800 $39,600 $41,400
Other $0 $0 $0
Total Operating Expenses $305,400 $319,200 $333,000
Profit Before Interest and Taxes $35,177 $68,800 $97,000
EBITDA $35,177 $68,800 $97,000
Interest Expense $2,883 $2,676 $2,460
Taxes Incurred $9,688 $19,837 $28,362
Net Profit $22,606 $46,287 $66,178
Net Profit/Sales 6.64% 11.93% 15.39%

7.3 Projected Cash Flow

The following table and chart highlight the projected cash flow for the next three years.

Computer engineering business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $85,144 $97,000 $107,500
Cash from Receivables $209,420 $284,593 $316,826
Subtotal Cash from Operations $294,565 $381,593 $424,326
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 $294,565 $381,593 $424,326
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $252,000 $264,000 $276,000
Bill Payments $60,773 $76,524 $86,991
Subtotal Spent on Operations $312,773 $340,524 $362,991
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 $3,600 $3,600 $3,600
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $316,373 $344,124 $366,591
Net Cash Flow ($21,809) $37,469 $57,735
Cash Balance $39,191 $76,661 $134,395

7.4 Projected Balance Sheet

The following table highlights the projected balance sheet for the next three years.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $39,191 $76,661 $134,395
Accounts Receivable $46,013 $52,419 $58,094
Other Current Assets $0 $0 $0
Total Current Assets $85,204 $129,080 $192,489
Long-term Assets
Long-term Assets $0 $0 $0
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $0 $0 $0
Total Assets $85,204 $129,080 $192,489
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $5,198 $6,387 $7,218
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $5,198 $6,387 $7,218
Long-term Liabilities $46,400 $42,800 $39,200
Total Liabilities $51,598 $49,187 $46,418
Paid-in Capital $20,000 $20,000 $20,000
Retained Earnings ($9,000) $13,606 $59,893
Earnings $22,606 $46,287 $66,178
Total Capital $33,606 $79,893 $146,071
Total Liabilities and Capital $85,204 $129,080 $192,489
Net Worth $33,606 $79,893 $146,071

7.5 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the NAISC code 541614, Process, Physical Distribution, and Logistics Consulting, are shown for comparison.

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 13.92% 10.82% 7.23%
Percent of Total Assets
Accounts Receivable 54.00% 40.61% 30.18% 19.37%
Other Current Assets 0.00% 0.00% 0.00% 50.13%
Total Current Assets 100.00% 100.00% 100.00% 70.99%
Long-term Assets 0.00% 0.00% 0.00% 29.01%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 6.10% 4.95% 3.75% 34.21%
Long-term Liabilities 54.46% 33.16% 20.36% 15.24%
Total Liabilities 60.56% 38.11% 24.11% 49.45%
Net Worth 39.44% 61.89% 75.89% 50.55%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 100.00% 100.00% 100.00% 23.92%
Selling, General & Administrative Expenses 93.80% 88.49% 85.02% 11.77%
Advertising Expenses 0.00% 0.00% 0.00% 0.57%
Profit Before Interest and Taxes 10.33% 17.73% 22.56% 0.85%
Main Ratios
Current 16.39 20.21 26.67 1.60
Quick 16.39 20.21 26.67 1.31
Total Debt to Total Assets 60.56% 38.11% 24.11% 56.90%
Pre-tax Return on Net Worth 96.10% 82.77% 64.72% 2.82%
Pre-tax Return on Assets 37.90% 51.23% 49.11% 6.54%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 6.64% 11.93% 15.39% n.a
Return on Equity 67.27% 57.94% 45.31% n.a
Activity Ratios
Accounts Receivable Turnover 5.55 5.55 5.55 n.a
Collection Days 57 62 63 n.a
Accounts Payable Turnover 12.69 12.17 12.17 n.a
Payment Days 27 27 28 n.a
Total Asset Turnover 4.00 3.01 2.23 n.a
Debt Ratios
Debt to Net Worth 1.54 0.62 0.32 n.a
Current Liab. to Liab. 0.10 0.13 0.16 n.a
Liquidity Ratios
Net Working Capital $80,006 $122,693 $185,271 n.a
Interest Coverage 12.20 25.71 39.43 n.a
Additional Ratios
Assets to Sales 0.25 0.33 0.45 n.a
Current Debt/Total Assets 6% 5% 4% n.a
Acid Test 7.54 12.00 18.62 n.a
Sales/Net Worth 10.13 4.86 2.94 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
Symbol and CDS Customers 0% $20,000 $20,000 $20,785 $21,890 $21,400 $24,200 $24,302 $25,000 $27,400 $28,900 $27,500 $22,000
New Customers 0% $0 $0 $0 $0 $6,000 $7,500 $8,000 $9,700 $6,000 $7,000 $7,000 $6,000
Total Sales $20,000 $20,000 $20,785 $21,890 $27,400 $31,700 $32,302 $34,700 $33,400 $35,900 $34,500 $28,000
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
Symbol and CDS Customers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Customers $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
Mary Todd 0% $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
John West 0% $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Installation Consultants 0% $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Office Manager 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
Total People 4 4 4 4 4 4 4 4 4 4 4 4
Total Payroll $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000

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 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
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 $20,000 $20,000 $20,785 $21,890 $27,400 $31,700 $32,302 $34,700 $33,400 $35,900 $34,500 $28,000
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 $20,000 $20,000 $20,785 $21,890 $27,400 $31,700 $32,302 $34,700 $33,400 $35,900 $34,500 $28,000
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 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000
Sales and Marketing and Other Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Insurance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rent $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Payroll Taxes 15% $3,150 $3,150 $3,150 $3,150 $3,150 $3,150 $3,150 $3,150 $3,150 $3,150 $3,150 $3,150
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $25,450 $25,450 $25,450 $25,450 $25,450 $25,450 $25,450 $25,450 $25,450 $25,450 $25,450 $25,450
Profit Before Interest and Taxes ($5,450) ($5,450) ($4,665) ($3,560) $1,950 $6,250 $6,852 $9,250 $7,950 $10,450 $9,050 $2,550
EBITDA ($5,450) ($5,450) ($4,665) ($3,560) $1,950 $6,250 $6,852 $9,250 $7,950 $10,450 $9,050 $2,550
Interest Expense $249 $247 $246 $244 $243 $241 $240 $238 $237 $235 $234 $232
Taxes Incurred ($1,710) ($1,709) ($1,473) ($1,141) $512 $1,803 $1,984 $2,704 $2,314 $3,065 $2,645 $695
Net Profit ($3,989) ($3,988) ($3,437) ($2,663) $1,195 $4,206 $4,629 $6,308 $5,399 $7,151 $6,172 $1,623
Net Profit/Sales -19.94% -19.94% -16.54% -12.16% 4.36% 13.27% 14.33% 18.18% 16.17% 19.92% 17.89% 5.79%

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 $5,000 $5,000 $5,196 $5,473 $6,850 $7,925 $8,076 $8,675 $8,350 $8,975 $8,625 $7,000
Cash from Receivables $0 $500 $15,000 $15,020 $15,616 $16,555 $20,658 $23,790 $24,286 $25,993 $25,113 $26,890
Subtotal Cash from Operations $5,000 $5,500 $20,196 $20,492 $22,466 $24,480 $28,733 $32,465 $32,636 $34,968 $33,738 $33,890
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 $5,000 $5,500 $20,196 $20,492 $22,466 $24,480 $28,733 $32,465 $32,636 $34,968 $33,738 $33,890
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 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000 $21,000
Bill Payments $100 $2,989 $2,996 $3,233 $3,608 $5,248 $6,500 $6,697 $7,379 $7,026 $7,735 $7,263
Subtotal Spent on Operations $21,100 $23,989 $23,996 $24,233 $24,608 $26,248 $27,500 $27,697 $28,379 $28,026 $28,735 $28,263
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 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
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 $21,400 $24,289 $24,296 $24,533 $24,908 $26,548 $27,800 $27,997 $28,679 $28,326 $29,035 $28,563
Net Cash Flow ($16,400) ($18,789) ($4,099) ($4,041) ($2,441) ($2,067) $933 $4,468 $3,958 $6,642 $4,702 $5,327
Cash Balance $44,600 $25,811 $21,712 $17,671 $15,229 $13,162 $14,095 $18,563 $22,521 $29,163 $33,865 $39,191
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 $61,000 $44,600 $25,811 $21,712 $17,671 $15,229 $13,162 $14,095 $18,563 $22,521 $29,163 $33,865 $39,191
Accounts Receivable $0 $15,000 $29,500 $30,089 $31,487 $36,420 $43,640 $47,209 $49,444 $50,208 $51,140 $51,903 $46,013
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $61,000 $59,600 $55,311 $51,801 $49,157 $51,650 $56,802 $61,304 $68,007 $72,728 $80,303 $85,767 $85,204
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 $61,000 $59,600 $55,311 $51,801 $49,157 $51,650 $56,802 $61,304 $68,007 $72,728 $80,303 $85,767 $85,204
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 $2,889 $2,888 $3,115 $3,434 $5,031 $6,277 $6,451 $7,145 $6,767 $7,491 $7,084 $5,198
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 $2,889 $2,888 $3,115 $3,434 $5,031 $6,277 $6,451 $7,145 $6,767 $7,491 $7,084 $5,198
Long-term Liabilities $50,000 $49,700 $49,400 $49,100 $48,800 $48,500 $48,200 $47,900 $47,600 $47,300 $47,000 $46,700 $46,400
Total Liabilities $50,000 $52,589 $52,288 $52,215 $52,234 $53,531 $54,477 $54,351 $54,745 $54,067 $54,491 $53,784 $51,598
Paid-in Capital $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
Retained Earnings ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000) ($9,000)
Earnings $0 ($3,989) ($7,977) ($11,414) ($14,077) ($12,882) ($8,675) ($4,047) $2,262 $7,661 $14,812 $20,983 $22,606
Total Capital $11,000 $7,011 $3,023 ($414) ($3,077) ($1,882) $2,325 $6,953 $13,262 $18,661 $25,812 $31,983 $33,606
Total Liabilities and Capital $61,000 $59,600 $55,311 $51,801 $49,157 $51,650 $56,802 $61,304 $68,007 $72,728 $80,303 $85,767 $85,204
Net Worth $11,000 $7,011 $3,023 ($414) ($3,077) ($1,882) $2,325 $6,953 $13,262 $18,661 $25,812 $31,983 $33,606

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