Elite Medical Transcription
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 | |||||||||||||
| Doctors | 0% | $0 | $1,245 | $1,354 | $1,654 | $2,474 | $3,254 | $3,354 | $4,125 | $5,358 | $5,987 | $6,547 | $7,354 |
| Psychologists | 0% | $0 | $1,001 | $1,245 | $1,458 | $1,874 | $2,754 | $3,021 | $3,524 | $4,685 | $5,055 | $5,687 | $6,235 |
| Total Sales | $0 | $2,246 | $2,599 | $3,112 | $4,348 | $6,008 | $6,375 | $7,649 | $10,043 | $11,042 | $12,234 | $13,589 | |
| 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 | |
| Doctors | $0 | $125 | $135 | $165 | $247 | $325 | $335 | $413 | $536 | $599 | $655 | $735 | |
| Psychologists | $0 | $100 | $125 | $146 | $187 | $275 | $302 | $352 | $469 | $506 | $569 | $624 | |
| Subtotal Direct Cost of Sales | $0 | $225 | $260 | $311 | $435 | $601 | $638 | $765 | $1,004 | $1,104 | $1,223 | $1,359 | |
| 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 | ||
| Dawn | 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 Transcriber | 0% | $0 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 |
| Full-time Transcriber | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,100 | $2,100 |
| Total People | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | |
| Total Payroll | $3,000 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $7,200 | $7,200 | |
| 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% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
| 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 | $0 | $2,246 | $2,599 | $3,112 | $4,348 | $6,008 | $6,375 | $7,649 | $10,043 | $11,042 | $12,234 | $13,589 | |
| Direct Cost of Sales | $0 | $225 | $260 | $311 | $435 | $601 | $638 | $765 | $1,004 | $1,104 | $1,223 | $1,359 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $225 | $260 | $311 | $435 | $601 | $638 | $765 | $1,004 | $1,104 | $1,223 | $1,359 | |
| Gross Margin | $0 | $2,021 | $2,339 | $2,801 | $3,913 | $5,407 | $5,738 | $6,884 | $9,039 | $9,938 | $11,011 | $12,230 | |
| Gross Margin % | 0.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | |
| Expenses | |||||||||||||
| Payroll | $3,000 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $7,200 | $7,200 | |
| Sales and Marketing and Other Expenses | $135 | $135 | $135 | $135 | $135 | $135 | $135 | $135 | $135 | $135 | $135 | $135 | |
| Depreciation | $151 | $151 | $151 | $151 | $151 | $151 | $151 | $151 | $151 | $151 | $151 | $151 | |
| Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Utilities | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | $125 | |
| Insurance | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
| Rent | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Payroll Taxes | 15% | $450 | $765 | $765 | $765 | $765 | $765 | $765 | $765 | $765 | $765 | $1,080 | $1,080 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $3,961 | $6,376 | $6,376 | $6,376 | $6,376 | $6,376 | $6,376 | $6,376 | $6,376 | $6,376 | $8,791 | $8,791 | |
| Profit Before Interest and Taxes | ($3,961) | ($4,355) | ($4,037) | ($3,575) | ($2,463) | ($969) | ($639) | $508 | $2,663 | $3,562 | $2,220 | $3,439 | |
| EBITDA | ($3,810) | ($4,204) | ($3,886) | ($3,424) | ($2,312) | ($818) | ($488) | $659 | $2,814 | $3,713 | $2,371 | $3,590 | |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Profit | ($3,961) | ($4,355) | ($4,037) | ($3,575) | ($2,463) | ($969) | ($639) | $508 | $2,663 | $3,562 | $2,220 | $3,439 | |
| Net Profit/Sales | 0.00% | -193.88% | -155.33% | -114.88% | -56.64% | -16.13% | -10.02% | 6.64% | 26.51% | 32.26% | 18.14% | 25.31% | |
| 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 | $0 | $1,011 | $1,170 | $1,400 | $1,957 | $2,704 | $2,869 | $3,442 | $4,519 | $4,969 | $5,505 | $6,115 | |
| Cash from Receivables | $0 | $0 | $41 | $1,242 | $1,439 | $1,734 | $2,422 | $3,311 | $3,530 | $4,251 | $5,542 | $6,095 | |
| Subtotal Cash from Operations | $0 | $1,011 | $1,211 | $2,642 | $3,395 | $4,438 | $5,291 | $6,753 | $8,049 | $9,220 | $11,047 | $12,210 | |
| 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 | $0 | $1,011 | $1,211 | $2,642 | $3,395 | $4,438 | $5,291 | $6,753 | $8,049 | $9,220 | $11,047 | $12,210 | |
| 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 | $3,000 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $5,100 | $7,200 | $7,200 | |
| Bill Payments | $27 | $828 | $1,351 | $1,387 | $1,440 | $1,565 | $1,727 | $1,767 | $1,898 | $2,133 | $2,244 | $2,668 | |
| Subtotal Spent on Operations | $3,027 | $5,928 | $6,451 | $6,487 | $6,540 | $6,665 | $6,827 | $6,867 | $6,998 | $7,233 | $9,444 | $9,868 | |
| 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 | $3,027 | $5,928 | $6,451 | $6,487 | $6,540 | $6,665 | $6,827 | $6,867 | $6,998 | $7,233 | $9,444 | $9,868 | |
| Net Cash Flow | ($3,027) | ($4,917) | ($5,240) | ($3,844) | ($3,145) | ($2,227) | ($1,536) | ($114) | $1,051 | $1,987 | $1,604 | $2,342 | |
| Cash Balance | $21,123 | $16,206 | $10,966 | $7,121 | $3,976 | $1,749 | $212 | $99 | $1,150 | $3,137 | $4,741 | $7,083 | |
| 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 | $24,150 | $21,123 | $16,206 | $10,966 | $7,121 | $3,976 | $1,749 | $212 | $99 | $1,150 | $3,137 | $4,741 | $7,083 |
| Accounts Receivable | $0 | $0 | $1,235 | $2,624 | $3,093 | $4,046 | $5,616 | $6,701 | $7,596 | $9,590 | $11,413 | $12,599 | $13,978 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $24,150 | $21,123 | $17,441 | $13,589 | $10,215 | $8,022 | $7,365 | $6,913 | $7,695 | $10,740 | $14,550 | $17,340 | $21,061 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 | $5,450 |
| Accumulated Depreciation | $0 | $151 | $302 | $453 | $604 | $755 | $906 | $1,057 | $1,208 | $1,359 | $1,510 | $1,661 | $1,812 |
| Total Long-term Assets | $5,450 | $5,299 | $5,148 | $4,997 | $4,846 | $4,695 | $4,544 | $4,393 | $4,242 | $4,091 | $3,940 | $3,789 | $3,638 |
| Total Assets | $29,600 | $26,422 | $22,589 | $18,586 | $15,061 | $12,717 | $11,909 | $11,306 | $11,937 | $14,831 | $18,490 | $21,129 | $24,699 |
| 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 | $783 | $1,305 | $1,339 | $1,388 | $1,508 | $1,668 | $1,704 | $1,827 | $2,058 | $2,155 | $2,575 | $2,706 |
| 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 | $783 | $1,305 | $1,339 | $1,388 | $1,508 | $1,668 | $1,704 | $1,827 | $2,058 | $2,155 | $2,575 | $2,706 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $0 | $783 | $1,305 | $1,339 | $1,388 | $1,508 | $1,668 | $1,704 | $1,827 | $2,058 | $2,155 | $2,575 | $2,706 |
| Paid-in Capital | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 | $30,000 |
| Retained Earnings | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) | ($400) |
| Earnings | $0 | ($3,961) | ($8,316) | ($12,353) | ($15,928) | ($18,391) | ($19,359) | ($19,998) | ($19,490) | ($16,827) | ($13,265) | ($11,046) | ($7,606) |
| Total Capital | $29,600 | $25,639 | $21,284 | $17,248 | $13,672 | $11,210 | $10,241 | $9,602 | $10,110 | $12,773 | $16,335 | $18,554 | $21,994 |
| Total Liabilities and Capital | $29,600 | $26,422 | $22,589 | $18,586 | $15,061 | $12,717 | $11,909 | $11,306 | $11,937 | $14,831 | $18,490 | $21,129 | $24,699 |
| Net Worth | $29,600 | $25,639 | $21,284 | $17,247 | $13,672 | $11,210 | $10,241 | $9,602 | $10,110 | $12,773 | $16,335 | $18,554 | $21,994 |
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