Emerald Driving Range
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 | |||||||||||||
| Driving Range & Practice Facilities | 0% | $13,000 | $16,000 | $22,000 | $30,000 | $44,000 | $52,000 | $61,000 | $61,000 | $59,000 | $56,000 | $45,000 | $32,000 |
| Concessions | 0% | $5,000 | $5,000 | $8,820 | $9,261 | $9,724 | $10,210 | $10,721 | $11,257 | $11,820 | $12,411 | $9,000 | $5,000 |
| Professional Lessons | 0% | $5,000 | $5,000 | $8,000 | $10,000 | $11,000 | $12,000 | $15,000 | $16,000 | $15,000 | $14,000 | $10,000 | $5,000 |
| Total Sales | $23,000 | $26,000 | $38,820 | $49,261 | $64,724 | $74,210 | $86,721 | $88,257 | $85,820 | $82,411 | $64,000 | $42,000 | |
| 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 | |
| Driving Range & Practice Facilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Concessions | $2,000 | $2,000 | $3,528 | $3,704 | $3,890 | $4,084 | $4,288 | $4,503 | $4,728 | $4,964 | $3,600 | $2,000 | |
| Professional Lessons | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $2,000 | $2,000 | $3,528 | $3,704 | $3,890 | $4,084 | $4,288 | $4,503 | $4,728 | $4,964 | $3,600 | $2,000 | |
| 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 | ||
| Stan Walker | 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 |
| Part-time Employees | 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 |
| Full-time Employees | 0% | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 | $10,500 |
| Fred Fast | 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 |
| Golf Pros | 0% | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 | $5,500 |
| Jim Spade | 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 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | |
| Total Payroll | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | |
| 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 | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | |
| Long-term Interest Rate | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | |
| Tax Rate | 30.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | 28.00% | |
| 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 | $23,000 | $26,000 | $38,820 | $49,261 | $64,724 | $74,210 | $86,721 | $88,257 | $85,820 | $82,411 | $64,000 | $42,000 | |
| Direct Cost of Sales | $2,000 | $2,000 | $3,528 | $3,704 | $3,890 | $4,084 | $4,288 | $4,503 | $4,728 | $4,964 | $3,600 | $2,000 | |
| Other Costs of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $2,000 | $2,000 | $3,528 | $3,704 | $3,890 | $4,084 | $4,288 | $4,503 | $4,728 | $4,964 | $3,600 | $2,000 | |
| Gross Margin | $21,000 | $24,000 | $35,292 | $45,557 | $60,834 | $70,126 | $82,432 | $83,754 | $81,092 | $77,446 | $60,400 | $40,000 | |
| Gross Margin % | 91.30% | 92.31% | 90.91% | 92.48% | 93.99% | 94.50% | 95.06% | 94.90% | 94.49% | 93.98% | 94.38% | 95.24% | |
| Expenses | |||||||||||||
| Payroll | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | |
| Sales and Marketing and Other Expenses | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Depreciation | $142 | $142 | $142 | $142 | $142 | $142 | $142 | $142 | $142 | $142 | $142 | $142 | |
| Rent | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Utilities | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Insurance | $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% | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 | $4,350 |
| Other | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | |
| Total Operating Expenses | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | $41,242 | |
| Profit Before Interest and Taxes | ($20,242) | ($17,242) | ($5,950) | $4,315 | $19,592 | $28,884 | $41,190 | $42,512 | $39,850 | $36,204 | $19,158 | ($1,242) | |
| EBITDA | ($20,100) | ($17,100) | ($5,808) | $4,457 | $19,734 | $29,026 | $41,332 | $42,654 | $39,992 | $36,346 | $19,300 | ($1,100) | |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Taxes Incurred | ($6,073) | ($4,828) | ($1,666) | $1,208 | $5,486 | $8,088 | $11,533 | $11,903 | $11,158 | $10,137 | $5,364 | ($348) | |
| Net Profit | ($14,169) | ($12,414) | ($4,284) | $3,107 | $14,107 | $20,797 | $29,657 | $30,609 | $28,692 | $26,067 | $13,794 | ($894) | |
| Net Profit/Sales | -61.61% | -47.75% | -11.04% | 6.31% | 21.79% | 28.02% | 34.20% | 34.68% | 33.43% | 31.63% | 21.55% | -2.13% | |
| 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 | $23,000 | $26,000 | $38,820 | $49,261 | $64,724 | $74,210 | $86,721 | $88,257 | $85,820 | $82,411 | $64,000 | $42,000 | |
| Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash from Operations | $23,000 | $26,000 | $38,820 | $49,261 | $64,724 | $74,210 | $86,721 | $88,257 | $85,820 | $82,411 | $64,000 | $42,000 | |
| 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 | $23,000 | $26,000 | $38,820 | $49,261 | $64,724 | $74,210 | $86,721 | $88,257 | $85,820 | $82,411 | $64,000 | $42,000 | |
| 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 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | $29,000 | |
| Bill Payments | $268 | $8,069 | $9,429 | $14,064 | $17,161 | $21,569 | $24,393 | $27,941 | $28,489 | $27,960 | $26,997 | $20,821 | |
| Subtotal Spent on Operations | $29,268 | $37,069 | $38,429 | $43,064 | $46,161 | $50,569 | $53,393 | $56,941 | $57,489 | $56,960 | $55,997 | $49,821 | |
| 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 | $29,268 | $37,069 | $38,429 | $43,064 | $46,161 | $50,569 | $53,393 | $56,941 | $57,489 | $56,960 | $55,997 | $49,821 | |
| Net Cash Flow | ($6,268) | ($11,069) | $391 | $6,197 | $18,563 | $23,642 | $33,327 | $31,316 | $28,331 | $25,451 | $8,003 | ($7,821) | |
| Cash Balance | $33,732 | $22,664 | $23,055 | $29,252 | $47,815 | $71,457 | $104,784 | $136,100 | $164,431 | $189,882 | $197,885 | $190,064 | |
| 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 | $40,000 | $33,732 | $22,664 | $23,055 | $29,252 | $47,815 | $71,457 | $104,784 | $136,100 | $164,431 | $189,882 | $197,885 | $190,064 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $40,000 | $33,732 | $22,664 | $23,055 | $29,252 | $47,815 | $71,457 | $104,784 | $136,100 | $164,431 | $189,882 | $197,885 | $190,064 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 | $27,000 |
| Accumulated Depreciation | $0 | $142 | $284 | $426 | $568 | $710 | $852 | $994 | $1,136 | $1,278 | $1,420 | $1,562 | $1,704 |
| Total Long-term Assets | $27,000 | $26,858 | $26,716 | $26,574 | $26,432 | $26,290 | $26,148 | $26,006 | $25,864 | $25,722 | $25,580 | $25,438 | $25,296 |
| Total Assets | $67,000 | $60,590 | $49,380 | $49,629 | $55,684 | $74,105 | $97,605 | $130,790 | $161,964 | $190,153 | $215,462 | $223,323 | $215,360 |
| 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 | $7,760 | $8,963 | $13,497 | $16,445 | $20,760 | $23,463 | $26,991 | $27,556 | $27,053 | $26,295 | $20,362 | $13,294 |
| 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 | $7,760 | $8,963 | $13,497 | $16,445 | $20,760 | $23,463 | $26,991 | $27,556 | $27,053 | $26,295 | $20,362 | $13,294 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $0 | $7,760 | $8,963 | $13,497 | $16,445 | $20,760 | $23,463 | $26,991 | $27,556 | $27,053 | $26,295 | $20,362 | $13,294 |
| Paid-in Capital | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 |
| Retained Earnings | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) | ($63,000) |
| Earnings | $0 | ($14,169) | ($26,584) | ($30,868) | ($27,761) | ($13,655) | $7,142 | $36,799 | $67,408 | $96,100 | $122,167 | $135,961 | $135,066 |
| Total Capital | $67,000 | $52,831 | $40,416 | $36,132 | $39,239 | $53,345 | $74,142 | $103,799 | $134,408 | $163,100 | $189,167 | $202,961 | $202,066 |
| Total Liabilities and Capital | $67,000 | $60,590 | $49,380 | $49,629 | $55,684 | $74,105 | $97,605 | $130,790 | $161,964 | $190,153 | $215,462 | $223,323 | $215,360 |
| Net Worth | $67,000 | $52,831 | $40,416 | $36,132 | $39,239 | $53,345 | $74,142 | $103,799 | $134,408 | $163,100 | $189,167 | $202,961 | $202,066 |
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