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The Scarlet Tassel

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
Revenue 0% $8,000 $32,000 $46,000 $54,000 $58,000 $66,000 $71,000 $49,000 $61,000 $59,000 $41,000 $44,000
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $8,000 $32,000 $46,000 $54,000 $58,000 $66,000 $71,000 $49,000 $61,000 $59,000 $41,000 $44,000
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
Inventory $2,960 $11,840 $17,020 $19,980 $21,460 $24,420 $26,270 $18,130 $22,570 $21,830 $15,170 $16,280
Inbound Freight $640 $2,560 $3,680 $4,320 $4,640 $5,280 $5,680 $3,920 $4,880 $4,720 $3,280 $3,520
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $3,600 $14,400 $20,700 $24,300 $26,100 $29,700 $31,950 $22,050 $27,450 $26,550 $18,450 $19,800
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
Co-Owner/Manager–Merchandising & Marketing 0% $834 $834 $834 $834 $834 $1,667 $1,667 $2,500 $2,500 $3,334 $3,334 $3,334
Co-Owner/Manager–Operations & Finance 0% $834 $834 $834 $834 $834 $1,667 $1,667 $2,500 $2,500 $3,334 $3,334 $3,334
Full-Time Sales Associate / Manager Trainee 0% $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Full-Time Sales Associate 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Part-Time Sales Associate 0% $1,286 $1,329 $1,286 $1,329 $1,329 $1,286 $1,329 $1,286 $1,329 $1,329 $1,329 $1,329
Part-Time Sales Associate 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Part-Time Sales Associate / Holiday Temp 0% $0 $0 $0 $0 $0 $0 $1,196 $1,157 $1,196 $0 $0 $0
Total People 4 4 4 4 4 4 4 4 4 4 4 4
Total Payroll $5,454 $5,497 $5,454 $5,497 $5,497 $7,120 $8,359 $9,943 $10,025 $10,497 $10,497 $10,497

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 $8,000 $32,000 $46,000 $54,000 $58,000 $66,000 $71,000 $49,000 $61,000 $59,000 $41,000 $44,000
Subtotal Cash from Operations $8,000 $32,000 $46,000 $54,000 $58,000 $66,000 $71,000 $49,000 $61,000 $59,000 $41,000 $44,000
Additional Cash Received
Sales Tax, VAT, HST/GST Received 7.00% $560 $2,240 $3,220 $3,780 $4,060 $4,620 $4,970 $3,430 $4,270 $4,130 $2,870 $3,080
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 $8,560 $34,240 $49,220 $57,780 $62,060 $70,620 $75,970 $52,430 $65,270 $63,130 $43,870 $47,080
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 $20,364 $27,214 $50,703 $49,872 $54,110 $56,846 $62,008 $37,752 $59,818 $53,262 $38,113 $49,621
Bill Payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Spent on Operations $20,364 $27,214 $50,703 $49,872 $54,110 $56,846 $62,008 $37,752 $59,818 $53,262 $38,113 $49,621
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $560 $2,240 $3,220 $3,780 $4,060 $4,620 $4,970 $3,430 $4,270 $4,130 $2,870 $3,080
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 $1,203 $1,214 $1,225 $1,235 $1,246 $1,257 $1,268 $1,279 $1,290 $1,302 $1,313
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 $20,924 $30,657 $55,137 $54,877 $59,405 $62,712 $68,235 $42,451 $65,367 $58,682 $42,285 $54,014
Net Cash Flow ($12,364) $3,583 ($5,917) $2,903 $2,655 $7,908 $7,735 $9,979 ($97) $4,448 $1,585 ($6,934)
Cash Balance $15,734 $19,316 $13,400 $16,303 $18,958 $26,866 $34,601 $44,580 $44,484 $48,932 $50,517 $43,583

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 $8,000 $32,000 $46,000 $54,000 $58,000 $66,000 $71,000 $49,000 $61,000 $59,000 $41,000 $44,000
Direct Cost of Sales $3,600 $14,400 $20,700 $24,300 $26,100 $29,700 $31,950 $22,050 $27,450 $26,550 $18,450 $19,800
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $3,600 $14,400 $20,700 $24,300 $26,100 $29,700 $31,950 $22,050 $27,450 $26,550 $18,450 $19,800
Gross Margin $4,400 $17,600 $25,300 $29,700 $31,900 $36,300 $39,050 $26,950 $33,550 $32,450 $22,550 $24,200
Gross Margin % 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00%
Expenses
Payroll $5,454 $5,497 $5,454 $5,497 $5,497 $7,120 $8,359 $9,943 $10,025 $10,497 $10,497 $10,497
Travel $0 $1,000 $2,200 $0 $2,300 $0 $2,400 $0 $0 $0 $2,000 $0
Depreciation $1,644 $1,644 $1,644 $1,644 $1,644 $1,644 $1,644 $1,644 $1,644 $1,644 $1,644 $1,644
Dues & Subscriptions $122 $0 $0 $234 $0 $0 $175 $0 $0 $198 $0 $0
Entertainment $175 $0 $0 $175 $0 $0 $175 $0 $0 $175 $0 $0
Insurance $550 $182 $182 $182 $182 $182 $182 $182 $182 $182 $182 $182
Marketing and Advertising $2,225 $6,263 $2,763 $2,763 $4,763 $2,763 $2,763 $3,263 $2,763 $2,763 $2,763 $3,263
Merchant Fees 3% $160 $640 $920 $1,080 $1,160 $1,320 $1,420 $980 $1,220 $1,180 $820 $880
Miscellaneous $111 $111 $111 $233 $681 $111 $233 $111 $111 $233 $111 $111
Outbound Freight $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50
Rent $8,166 $8,166 $8,166 $8,166 $8,166 $8,166 $8,166 $8,166 $8,166 $8,166 $8,166 $8,166
Repairs & Maintenance $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50
Supplies–Office, POS, Giftwrap, Packaging $170 $179 $187 $197 $207 $217 $228 $239 $251 $264 $277 $291
Taxes–Other and Licenses $120 $0 $0 $0 $0 $0 $0 $0 $0 $275 $0 $1,200
Telephone and Utilities $843 $843 $843 $843 $843 $843 $843 $843 $843 $843 $843 $843
Payroll Taxes 15% $818 $825 $818 $825 $825 $1,068 $1,254 $1,491 $1,504 $1,575 $1,575 $1,575
Other $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Total Operating Expenses $20,958 $25,748 $23,688 $22,238 $26,667 $23,833 $28,241 $27,262 $27,108 $28,394 $29,277 $29,051
Profit Before Interest and Taxes ($16,558) ($8,148) $1,612 $7,462 $5,233 $12,467 $10,809 ($312) $6,442 $4,056 ($6,727) ($4,851)
EBITDA ($14,914) ($6,505) $3,256 $9,106 $6,877 $14,111 $12,453 $1,332 $8,086 $5,700 ($5,083) ($3,207)
Interest Expense $1,050 $1,039 $1,029 $1,018 $1,007 $996 $985 $974 $963 $952 $940 $929
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($17,608) ($9,188) $583 $6,444 $4,226 $11,470 $9,824 ($1,286) $5,479 $3,105 ($7,667) ($5,780)
Net Profit/Sales -220.10% -28.71% 1.27% 11.93% 7.29% 17.38% 13.84% -2.63% 8.98% 5.26% -18.70% -13.14%

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 $28,098 $15,734 $19,316 $13,400 $16,303 $18,958 $26,866 $34,601 $44,580 $44,484 $48,932 $50,517 $43,583
Inventory $31,770 $28,170 $15,840 $22,770 $26,730 $28,710 $32,670 $35,145 $24,255 $30,195 $29,205 $20,295 $21,780
Other Current Assets $3,000 $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 Current Assets $62,868 $46,904 $38,156 $39,170 $46,033 $50,668 $62,536 $72,746 $71,835 $77,679 $81,137 $73,812 $68,363
Long-term Assets
Long-term Assets $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775 $83,775
Accumulated Depreciation $0 $1,644 $3,288 $4,932 $6,575 $8,219 $9,863 $11,507 $13,151 $14,795 $16,438 $18,082 $19,726
Total Long-term Assets $83,775 $82,131 $80,487 $78,843 $77,200 $75,556 $73,912 $72,268 $70,624 $68,980 $67,337 $65,693 $64,049
Total Assets $146,643 $129,035 $118,644 $118,013 $123,233 $126,223 $136,447 $145,014 $142,460 $146,659 $148,473 $139,504 $132,412
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities $120,000 $120,000 $118,797 $117,583 $116,358 $115,123 $113,876 $112,619 $111,351 $110,072 $108,782 $107,480 $106,167
Total Liabilities $120,000 $120,000 $118,797 $117,583 $116,358 $115,123 $113,876 $112,619 $111,351 $110,072 $108,782 $107,480 $106,167
Paid-in Capital $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Retained Earnings ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357) ($23,357)
Earnings $0 ($17,608) ($26,796) ($26,213) ($19,768) ($15,542) ($4,072) $5,752 $4,465 $9,944 $13,049 $5,381 ($398)
Total Capital $26,643 $9,035 ($153) $430 $6,875 $11,101 $22,571 $32,395 $31,108 $36,587 $39,692 $32,024 $26,245
Total Liabilities and Capital $146,643 $129,035 $118,644 $118,013 $123,233 $126,223 $136,447 $145,014 $142,460 $146,659 $148,473 $139,504 $132,412
Net Worth $26,643 $9,035 ($153) $430 $6,875 $11,101 $22,571 $32,395 $31,108 $36,587 $39,692 $32,024 $26,245