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Barnum Painters

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
Commercial Buildings 0% $0 $0 $8,000 $0 $13,000 $30,000 $40,000 $50,000 $10,000 $28,000 $0 $0
Residential Buildings 0% $5,000 $10,000 $12,000 $17,000 $20,000 $20,000 $28,000 $8,500 $15,000 $13,000 $5,000 $4,000
Total Sales $5,000 $10,000 $20,000 $17,000 $33,000 $50,000 $68,000 $58,500 $25,000 $41,000 $5,000 $4,000
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
Commercial Buildings $0 $0 $1,760 $0 $2,860 $6,600 $8,000 $11,500 $2,200 $7,560 $0 $0
Residential Buildings $1,500 $3,000 $3,600 $5,100 $6,000 $6,000 $8,400 $2,550 $4,500 $3,900 $1,500 $1,200
Subtotal Direct Cost of Sales $1,500 $3,000 $5,360 $5,100 $8,860 $12,600 $16,400 $14,050 $6,700 $11,460 $1,500 $1,200
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
Production Personnel
Project Forman #1 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900
Project Foreman #2 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Residential Painter $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075
Residential Painter $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075
Residential Painter $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075
Commercial Painter $0 $0 $1,075 $0 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $0 $0
Commercial Painter $0 $0 $1,075 $0 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $0 $0
Commercial Painter $0 $0 $1,075 $0 $1,075 $1,075 $1,075 $1,075 $1,075 $1,075 $0 $0
Commercial Painter $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Commercial Painter $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
Subtotal $5,125 $5,125 $8,350 $5,125 $8,350 $8,350 $8,350 $8,350 $8,350 $8,350 $5,125 $5,125
Sales and Marketing Personnel
Mr. Anthony Barnum, Contracting and Sales $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
General and Administrative Personnel
Mr. William Barnum. Operations $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Mr. Michael Kruger, Expeditor and Q&A $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Expeditor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Expeditor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Other Personnel
Name or Title $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
Subtotal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 7 7 10 7 10 10 10 10 10 10 7 7
Total Payroll $12,625 $12,625 $15,850 $12,625 $15,850 $15,850 $15,850 $15,850 $15,850 $15,850 $12,625 $12,625

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% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
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 $5,000 $10,000 $20,000 $17,000 $33,000 $50,000 $68,000 $58,500 $25,000 $41,000 $5,000 $4,000
Direct Cost of Sales $1,500 $3,000 $5,360 $5,100 $8,860 $12,600 $16,400 $14,050 $6,700 $11,460 $1,500 $1,200
Production Payroll $5,125 $5,125 $8,350 $5,125 $8,350 $8,350 $8,350 $8,350 $8,350 $8,350 $5,125 $5,125
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $6,625 $8,125 $13,710 $10,225 $17,210 $20,950 $24,750 $22,400 $15,050 $19,810 $6,625 $6,325
Gross Margin ($1,625) $1,875 $6,290 $6,775 $15,790 $29,050 $43,250 $36,100 $9,950 $21,190 ($1,625) ($2,325)
Gross Margin % -32.50% 18.75% 31.45% 39.85% 47.85% 58.10% 63.60% 61.71% 39.80% 51.68% -32.50% -58.13%
Operating Expenses
Sales and Marketing Expenses
Sales and Marketing Payroll $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Advertising/Promotion $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Travel $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Miscellaneous $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Total Sales and Marketing Expenses $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200
Sales and Marketing % 64.00% 32.00% 16.00% 18.82% 9.70% 6.40% 4.71% 5.47% 12.80% 7.80% 64.00% 80.00%
General and Administrative Expenses
General and Administrative Payroll $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 and Other Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Depreciation $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Insurance $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Payroll Taxes 15% $1,894 $1,894 $2,378 $1,894 $2,378 $2,378 $2,378 $2,378 $2,378 $2,378 $1,894 $1,894
Other General and Administrative Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total General and Administrative Expenses $9,444 $9,444 $9,928 $9,444 $9,928 $9,928 $9,928 $9,928 $9,928 $9,928 $9,444 $9,444
General and Administrative % 188.88% 94.44% 49.64% 55.55% 30.08% 19.86% 14.60% 16.97% 39.71% 24.21% 188.88% 236.09%
Other Expenses:
Other Payroll $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Bookkeeper and acountant $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Total Other Expenses $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Other % 4.00% 2.00% 1.00% 1.18% 0.61% 0.40% 0.29% 0.34% 0.80% 0.49% 4.00% 5.00%
Total Operating Expenses $12,844 $12,844 $13,328 $12,844 $13,328 $13,328 $13,328 $13,328 $13,328 $13,328 $12,844 $12,844
Profit Before Interest and Taxes ($14,469) ($10,969) ($7,038) ($6,069) $2,463 $15,723 $29,923 $22,773 ($3,378) $7,863 ($14,469) ($15,169)
EBITDA ($14,369) ($10,869) ($6,938) ($5,969) $2,563 $15,823 $30,023 $22,873 ($3,278) $7,963 ($14,369) ($15,069)
Interest Expense $57 $55 $53 $52 $50 $49 $47 $45 $44 $42 $41 $39
Taxes Incurred ($4,358) ($3,307) ($2,127) ($1,836) $724 $4,702 $8,963 $6,818 ($1,026) $2,346 ($4,353) ($4,562)
Net Profit ($10,168) ($7,717) ($4,964) ($4,284) $1,689 $10,972 $20,913 $15,909 ($2,395) $5,474 ($10,157) ($10,645)
Net Profit/Sales -203.36% -77.17% -24.82% -25.20% 5.12% 21.94% 30.75% 27.19% -9.58% 13.35% -203.13% -266.13%

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 $2,500 $5,000 $10,000 $8,500 $16,500 $25,000 $34,000 $29,250 $12,500 $20,500 $2,500 $2,000
Cash from Receivables $0 $83 $2,583 $5,167 $9,950 $8,767 $16,783 $25,300 $33,842 $28,692 $12,767 $19,900
Subtotal Cash from Operations $2,500 $5,083 $12,583 $13,667 $26,450 $33,767 $50,783 $54,550 $46,342 $49,192 $15,267 $21,900
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 $3,000 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $2,500 $5,083 $12,583 $16,667 $26,450 $33,767 $50,783 $54,550 $46,342 $49,192 $15,267 $21,900
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 $12,625 $12,625 $15,850 $12,625 $15,850 $15,850 $15,850 $15,850 $15,850 $15,850 $12,625 $12,625
Bill Payments $108 $3,356 $6,807 $11,498 $8,648 $19,754 $27,463 $34,942 $23,412 $5,368 $22,677 $924
Subtotal Spent on Operations $12,733 $15,981 $22,657 $24,123 $24,498 $35,604 $43,313 $50,792 $39,262 $21,218 $35,302 $13,549
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 $194 $194 $194 $194 $194 $194 $194 $194 $194 $194 $194 $200
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 $12,927 $16,175 $22,851 $24,317 $24,692 $35,798 $43,507 $50,986 $39,456 $21,412 $35,496 $13,749
Net Cash Flow ($10,427) ($11,092) ($10,268) ($7,651) $1,758 ($2,031) $7,276 $3,564 $6,885 $27,780 ($20,229) $8,151
Cash Balance $29,723 $18,631 $8,363 $712 $2,471 $440 $7,716 $11,280 $18,165 $45,945 $25,716 $33,867
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 $40,150 $29,723 $18,631 $8,363 $712 $2,471 $440 $7,716 $11,280 $18,165 $45,945 $25,716 $33,867
Accounts Receivable $0 $2,500 $7,417 $14,833 $18,167 $24,717 $40,950 $58,167 $62,117 $40,775 $32,583 $22,317 $4,417
Inventory $850 $1,650 $3,300 $5,896 $5,610 $9,746 $13,860 $18,040 $15,455 $8,755 $12,606 $11,106 $9,906
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $41,000 $33,873 $29,348 $29,092 $24,489 $36,933 $55,250 $83,922 $88,852 $67,695 $91,135 $59,139 $48,189
Long-term Assets
Long-term Assets $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Accumulated Depreciation $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 $1,100 $1,200
Total Long-term Assets $4,000 $3,900 $3,800 $3,700 $3,600 $3,500 $3,400 $3,300 $3,200 $3,100 $3,000 $2,900 $2,800
Total Assets $45,000 $37,773 $33,148 $32,792 $28,089 $40,433 $58,650 $87,222 $92,052 $70,795 $94,135 $62,039 $50,989
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 $3,135 $6,420 $11,223 $7,998 $18,848 $26,286 $34,140 $23,254 $4,587 $22,646 $900 $696
Current Borrowing $7,000 $6,806 $6,612 $6,418 $6,224 $6,030 $5,836 $5,642 $5,448 $5,254 $5,060 $4,866 $4,666
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $7,000 $9,941 $13,032 $17,641 $14,222 $24,878 $32,122 $39,782 $28,702 $9,841 $27,706 $5,766 $5,362
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $7,000 $9,941 $13,032 $17,641 $14,222 $24,878 $32,122 $39,782 $28,702 $9,841 $27,706 $5,766 $5,362
Paid-in Capital $44,550 $44,550 $44,550 $44,550 $47,550 $47,550 $47,550 $47,550 $47,550 $47,550 $47,550 $47,550 $47,550
Retained Earnings ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550) ($6,550)
Earnings $0 ($10,168) ($17,885) ($22,848) ($27,133) ($25,444) ($14,472) $6,440 $22,349 $19,955 $25,429 $15,272 $4,627
Total Capital $38,000 $27,832 $20,115 $15,152 $13,867 $15,556 $26,528 $47,440 $63,349 $60,955 $66,429 $56,272 $45,627
Total Liabilities and Capital $45,000 $37,773 $33,148 $32,792 $28,089 $40,433 $58,650 $87,222 $92,052 $70,795 $94,135 $62,039 $50,989
Net Worth $38,000 $27,832 $20,115 $15,152 $13,867 $15,556 $26,528 $47,440 $63,349 $60,955 $66,429 $56,272 $45,627