Web Solutions, Inc.
Company Summary
Web Solutions, Inc. is a C-class corporation, incorporated in the State of Arizona in July, 1997. The company’s principal offices are currently located in Phoenix, AZ. All operations, from administration to product development, take place at this leased office location. The company plans to move to a bigger facility as it expands and its staff grows beyond its current four full-time employees.
| Past Performance | |||
| 1997 | 1998 | 1999 | |
| Sales | $550,000 | $825,000 | $1,237,500 |
| Gross Margin | $490,000 | $765,000 | $1,177,500 |
| Gross Margin % | 89.09% | 92.73% | 95.15% |
| Operating Expenses | $160,100 | $180,100 | $200,100 |
| Collection Period (days) | 0 | 0 | 0 |
| Balance Sheet | |||
| 1997 | 1998 | 1999 | |
| Current Assets | |||
| Cash | $50,050 | $75,075 | $112,613 |
| Accounts Receivable | $10,875 | $15,400 | $23,500 |
| Other Current Assets | $15,400 | $23,100 | $34,650 |
| Total Current Assets | $76,325 | $113,575 | $170,763 |
| Long-term Assets | |||
| Long-term Assets | $147,400 | $221,100 | $331,650 |
| Accumulated Depreciation | $0 | $0 | $0 |
| Total Long-term Assets | $147,400 | $221,100 | $331,650 |
| Total Assets | $223,725 | $334,675 | $502,413 |
| Current Liabilities | |||
| Accounts Payable | $50,750 | $65,125 | $70,688 |
| Current Borrowing | $40,150 | $60,225 | $90,337 |
| Other Current Liabilities (interest free) | $0 | $0 | $0 |
| Total Current Liabilities | $90,900 | $125,350 | $161,025 |
| Long-term Liabilities | $287,100 | $430,650 | $645,975 |
| Total Liabilities | $378,000 | $556,000 | $807,000 |
| Paid-in Capital | $0 | $0 | $0 |
| Retained Earnings | ($154,275) | ($221,325) | ($304,587) |
| Earnings | $0 | $0 | $0 |
| Total Capital | ($154,275) | ($221,325) | ($304,587) |
| Total Capital and Liabilities | $223,725 | $334,675 | $502,413 |
| Other Inputs | |||
| Payment Days | 0 | 0 | 0 |
| Sales on Credit | $0 | $0 | $0 |
| Receivables Turnover | 0.00 | 0.00 | 0.00 |
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