Fiberglass World, Inc.
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 | |||||||||||||
| Roof Tiles | 0% | $165,600 | $172,800 | $180,000 | $151,200 | $137,143 | $124,695 | $125,217 | $119,003 | $120,000 | $137,142 | $144,000 | $151,200 |
| Siding Sheets | 0% | $404,800 | $422,400 | $440,000 | $354,409 | $320,046 | $320,000 | $306,087 | $306,087 | $293,333 | $335,238 | $352,000 | $369,600 |
| Total Sales | $570,400 | $595,200 | $620,000 | $505,609 | $457,189 | $444,695 | $431,304 | $425,090 | $413,333 | $472,380 | $496,000 | $520,800 | |
| 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 | |
| Roof Tiles | $92,592 | $96,618 | $100,643 | $84,540 | $76,681 | $69,721 | $70,013 | $66,538 | $67,096 | $76,680 | $80,515 | $84,540 | |
| Siding Sheets | $226,336 | $236,177 | $246,017 | $198,161 | $178,947 | $178,922 | $171,142 | $171,142 | $164,011 | $187,442 | $196,814 | $206,654 | |
| Subtotal Direct Cost of Sales | $318,928 | $332,794 | $346,661 | $282,701 | $255,628 | $248,642 | $241,155 | $237,681 | $231,107 | $264,122 | $277,328 | $291,195 | |
| 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 | ||
| General Manager | 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 |
| Production Manager | 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 |
| Office Manager | 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 |
| Safety Manager | 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 |
| Distribution & Inventory manager | 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 |
| Sales and Marketing Coordinator | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Product developer | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales Rep | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Finance & accounting analyst | 0% | $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 | $0 |
| Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Total Payroll | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | |
| 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 | 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% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | 40.00% | |
| 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 | $570,400 | $595,200 | $620,000 | $505,609 | $457,189 | $444,695 | $431,304 | $425,090 | $413,333 | $472,380 | $496,000 | $520,800 | |
| Direct Cost of Sales | $318,928 | $332,794 | $346,661 | $282,701 | $255,628 | $248,642 | $241,155 | $237,681 | $231,107 | $264,122 | $277,328 | $291,195 | |
| Royalties | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $318,928 | $332,794 | $346,661 | $282,701 | $255,628 | $248,642 | $241,155 | $237,681 | $231,107 | $264,122 | $277,328 | $291,195 | |
| Gross Margin | $251,472 | $262,406 | $273,339 | $222,908 | $201,561 | $196,053 | $190,149 | $187,409 | $182,226 | $208,258 | $218,672 | $229,605 | |
| Gross Margin % | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | 44.09% | |
| Expenses | |||||||||||||
| Payroll | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | |
| Sales and Marketing and Other Expenses | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | $71,462 | |
| Depreciation | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | $4,583 | |
| Leased Equipment | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
| Utilities | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | |
| Insurance | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | $9,125 | |
| Rent | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | |
| Payroll Taxes | 15% | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 | $3,750 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | $121,670 | |
| Profit Before Interest and Taxes | $129,802 | $140,736 | $151,669 | $101,238 | $79,891 | $74,383 | $68,479 | $65,739 | $60,556 | $86,588 | $97,001 | $107,935 | |
| EBITDA | $134,385 | $145,319 | $156,253 | $105,821 | $84,474 | $78,966 | $73,062 | $70,323 | $65,139 | $91,171 | $101,585 | $112,518 | |
| Interest Expense | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $4,383 | $5,197 | |
| Taxes Incurred | $37,626 | $54,541 | $58,914 | $38,742 | $30,203 | $28,000 | $25,638 | $24,542 | $22,469 | $32,882 | $37,047 | $41,095 | |
| Net Profit | $87,793 | $81,811 | $88,372 | $58,113 | $45,304 | $42,000 | $38,457 | $36,814 | $33,704 | $49,323 | $55,571 | $61,643 | |
| Net Profit/Sales | 15.39% | 13.75% | 14.25% | 11.49% | 9.91% | 9.44% | 8.92% | 8.66% | 8.15% | 10.44% | 11.20% | 11.84% | |
| 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 | $570,400 | $595,200 | $620,000 | $505,609 | $457,189 | $444,695 | $431,304 | $425,090 | $413,333 | $472,380 | $496,000 | $520,800 | |
| Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash from Operations | $570,400 | $595,200 | $620,000 | $505,609 | $457,189 | $444,695 | $431,304 | $425,090 | $413,333 | $472,380 | $496,000 | $520,800 | |
| 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 | $50,000 | |
| 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 | $47,600 | |
| 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 | $570,400 | $595,200 | $620,000 | $505,609 | $457,189 | $444,695 | $431,304 | $425,090 | $413,333 | $472,380 | $496,000 | $618,400 | |
| 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 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | |
| Bill Payments | $24,128 | $716,351 | $499,666 | $511,640 | $347,723 | $352,951 | $365,081 | $355,022 | $354,469 | $345,714 | $429,643 | $426,022 | |
| Subtotal Spent on Operations | $49,128 | $741,351 | $524,666 | $536,640 | $372,723 | $377,951 | $390,081 | $380,022 | $379,469 | $370,714 | $454,643 | $451,022 | |
| 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 | $17,000 | |
| Subtotal Cash Spent | $49,128 | $741,351 | $524,666 | $536,640 | $372,723 | $377,951 | $390,081 | $380,022 | $379,469 | $370,714 | $454,643 | $468,022 | |
| Net Cash Flow | $521,272 | ($146,151) | $95,334 | ($31,031) | $84,466 | $66,744 | $41,223 | $45,068 | $33,864 | $101,666 | $41,357 | $150,378 | |
| Cash Balance | $556,272 | $410,121 | $505,454 | $474,423 | $558,889 | $625,633 | $666,856 | $711,924 | $745,788 | $847,454 | $888,811 | $1,039,189 | |
| 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 | $35,000 | $556,272 | $410,121 | $505,454 | $474,423 | $558,889 | $625,633 | $666,856 | $711,924 | $745,788 | $847,454 | $888,811 | $1,039,189 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $80,000 | $350,821 | $366,074 | $381,327 | $310,971 | $281,191 | $273,507 | $265,271 | $261,449 | $254,218 | $290,534 | $305,061 | $320,314 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $115,000 | $907,092 | $776,194 | $886,781 | $785,395 | $840,080 | $899,140 | $932,127 | $973,373 | $1,000,005 | $1,137,988 | $1,193,872 | $1,359,503 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 |
| Accumulated Depreciation | $0 | $4,583 | $9,167 | $13,750 | $18,333 | $22,917 | $27,500 | $32,083 | $36,667 | $41,250 | $45,833 | $50,417 | $55,000 |
| Total Long-term Assets | $300,000 | $295,417 | $290,833 | $286,250 | $281,667 | $277,083 | $272,500 | $267,917 | $263,333 | $258,750 | $254,167 | $249,583 | $245,000 |
| Total Assets | $415,000 | $1,202,509 | $1,067,028 | $1,173,031 | $1,067,061 | $1,117,163 | $1,171,640 | $1,200,043 | $1,236,706 | $1,258,755 | $1,392,154 | $1,443,455 | $1,604,503 |
| 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 | $699,716 | $482,423 | $500,055 | $335,972 | $340,770 | $353,247 | $343,193 | $343,042 | $331,388 | $415,464 | $411,194 | $429,999 |
| Current Borrowing | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $100,000 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $50,000 | $749,716 | $532,423 | $550,055 | $385,972 | $390,770 | $403,247 | $393,193 | $393,042 | $381,388 | $465,464 | $461,194 | $529,999 |
| Long-term Liabilities | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $476,000 | $523,600 |
| Total Liabilities | $526,000 | $1,225,716 | $1,008,423 | $1,026,055 | $861,972 | $866,770 | $879,247 | $869,193 | $869,042 | $857,388 | $941,464 | $937,194 | $1,053,599 |
| Paid-in Capital | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 | $321,000 |
| Retained Earnings | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($432,000) | ($449,000) |
| Earnings | $0 | $87,793 | $169,605 | $257,976 | $316,089 | $361,393 | $403,393 | $441,850 | $478,664 | $512,367 | $561,690 | $617,261 | $678,904 |
| Total Capital | ($111,000) | ($23,207) | $58,605 | $146,976 | $205,089 | $250,393 | $292,393 | $330,850 | $367,664 | $401,367 | $450,690 | $506,261 | $550,904 |
| Total Liabilities and Capital | $415,000 | $1,202,509 | $1,067,028 | $1,173,031 | $1,067,061 | $1,117,163 | $1,171,640 | $1,200,043 | $1,236,706 | $1,258,755 | $1,392,154 | $1,443,455 | $1,604,503 |
| Net Worth | ($111,000) | ($23,207) | $58,605 | $146,976 | $205,089 | $250,393 | $292,393 | $330,850 | $367,664 | $401,367 | $450,690 | $506,261 | $550,904 |
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