Advanced Technology Pallets
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 | |||||||||||||
| RST-PAL pallets | $18.50/$22.50 (5th yr) | $646,464 | $1,292,928 | $1,864,800 | $1,939,392 | $1,864,800 | $1,864,800 | $1,939,392 | $1,939,392 | $1,939,392 | $1,939,392 | $1,864,800 | $1,939,392 |
| Subsidies | $30/ton | $26,208 | $52,416 | $75,600 | $78,624 | $75,600 | $75,600 | $78,624 | $78,624 | $78,624 | $78,624 | $78,624 | $75,600 |
| Total Sales | $672,672 | $1,345,344 | $1,940,400 | $2,018,016 | $1,940,400 | $1,940,400 | $2,018,016 | $2,018,016 | $2,018,016 | $2,018,016 | $1,943,424 | $2,014,992 | |
| 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 | |
| Recycled Rubber | 125% | $43,680 | $87,360 | $126,025 | $131,040 | $126,000 | $126,000 | $131,040 | $131,040 | $131,040 | $131,040 | $126,000 | $131,040 |
| Recycled Plastic | 90% | $31,450 | $62,899 | $90,738 | $94,349 | $90,720 | $90,720 | $94,349 | $94,349 | $94,349 | $94,349 | $90,720 | $94,349 |
| Binders System | 650% | $227,136 | $454,272 | $655,330 | $681,408 | $655,200 | $655,200 | $681,408 | $681,408 | $681,408 | $681,408 | $655,200 | $681,408 |
| Subtotal Direct Cost of Sales | $302,266 | $604,531 | $872,093 | $906,797 | $871,920 | $871,920 | $906,797 | $906,797 | $906,797 | $906,797 | $871,920 | $906,797 | |
| 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 | |||||||||||||
| Texas plant manager | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Texas office worker | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | |
| Receptionist (x2) | $6.50/hr | $1,040 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 |
| Data entry (x1) | $6.50/hr | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 | $1,040 |
| Foreman (x3) | $2,200/mo | $2,200 | $4,400 | $6,600 | $6,600 | $6,600 | $6,600 | $6,800 | $7,000 | $7,200 | $7,200 | $7,200 | $7,200 |
| Line operator (x6) | $8.25/hr | $3,432 | $6,864 | $10,296 | $10,296 | $10,296 | $10,296 | $10,296 | $10,296 | $10,296 | $10,296 | $10,296 | $10,296 |
| Loader (x6) | $7.25/hr | $3,016 | $6,032 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 |
| Batcher (x6) | $7.50/hr | $3,120 | $6,240 | $9,360 | $9,360 | $9,360 | $9,360 | $9,360 | $9,360 | $9,360 | $9,360 | $9,360 | $9,360 |
| Conveyer worker (x12) | $6.50/hr | $5,408 | $10,816 | $16,224 | $16,224 | $16,224 | $16,224 | $16,224 | $16,224 | $16,224 | $16,224 | $16,224 | $16,224 |
| Assembly lead (x4) | $7.25/hr | $3,016 | $3,016 | $6,032 | $6,032 | $6,032 | $6,032 | $6,032 | $6,032 | $6,032 | $6,032 | $6,032 | $6,032 |
| Assembly helper (x4) | $6.50/hr | $2,704 | $2,704 | $5,408 | $5,408 | $5,408 | $5,408 | $5,408 | $5,408 | $5,408 | $5,408 | $5,408 | $5,408 |
| Cutter (x12) | $7.25/hr | $12,064 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 | $18,096 |
| Forklift operator (x6) | $7.25/hr | $6,032 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 | $9,048 |
| Maint. Supervisor | $7.50/hr | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 | $1,560 |
| Maint. helper (x3) | $6.50/hr | $1,352 | $2,704 | $4,056 | $4,056 | $4,056 | $4,056 | $4,056 | $4,056 | $4,056 | $4,056 | $4,056 | $4,056 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $51,184 | $79,800 | $104,048 | $104,048 | $104,048 | $104,048 | $104,248 | $104,448 | $104,648 | $104,648 | $104,648 | $104,648 | |
| Sales and Marketing Personnel | |||||||||||||
| Marketing Director | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | |
| Marketing Secretary | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,700 | $6,700 | $6,700 | $6,700 | $6,700 | $6,700 | |
| General and Administrative Personnel | |||||||||||||
| President – Dan Radke | $6,000 | $6,000 | $6,500 | $6,500 | $7,500 | $7,500 | $8,000 | $8,000 | $8,500 | $8,500 | $8,500 | $8,500 | |
| Vice Pres. – Elie Banenson | $6,000 | $6,000 | $6,000 | $6,000 | $7,000 | $7,000 | $7,500 | $7,500 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Office Manager | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | |
| Receptionist (x2) | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
| Office workers (x2) | $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 | $16,500 | $16,500 | $17,000 | $17,000 | $19,000 | $19,000 | $21,800 | $21,800 | $22,800 | $22,800 | $22,800 | $22,800 | |
| Other Personnel | |||||||||||||
| Name or Title | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| 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 | 33 | 56 | 74 | 74 | 74 | 74 | 75 | 75 | 75 | 75 | 75 | 75 | |
| Total Payroll | $73,684 | $102,300 | $127,048 | $127,048 | $129,048 | $129,048 | $132,748 | $132,948 | $134,148 | $134,148 | $134,148 | $134,148 | |
| 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 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Long-term Interest Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Tax Rate | 30.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% | |
| 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 | $672,672 | $1,345,344 | $1,940,400 | $2,018,016 | $1,940,400 | $1,940,400 | $2,018,016 | $2,018,016 | $2,018,016 | $2,018,016 | $1,943,424 | $2,014,992 | |
| Direct Cost of Sales | $302,266 | $604,531 | $872,093 | $906,797 | $871,920 | $871,920 | $906,797 | $906,797 | $906,797 | $906,797 | $871,920 | $906,797 | |
| Production Payroll | $51,184 | $79,800 | $104,048 | $104,048 | $104,048 | $104,048 | $104,248 | $104,448 | $104,648 | $104,648 | $104,648 | $104,648 | |
| Other Costs of Goods | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $353,450 | $684,331 | $976,141 | $1,010,845 | $975,968 | $975,968 | $1,011,045 | $1,011,245 | $1,011,445 | $1,011,445 | $976,568 | $1,011,445 | |
| Gross Margin | $319,222 | $661,013 | $964,259 | $1,007,171 | $964,432 | $964,432 | $1,006,971 | $1,006,771 | $1,006,571 | $1,006,571 | $966,856 | $1,003,547 | |
| Gross Margin % | 47.46% | 49.13% | 49.69% | 49.91% | 49.70% | 49.70% | 49.90% | 49.89% | 49.88% | 49.88% | 49.75% | 49.80% | |
| Operating Expenses | |||||||||||||
| Sales and Marketing Expenses | |||||||||||||
| Sales and Marketing Payroll | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,700 | $6,700 | $6,700 | $6,700 | $6,700 | $6,700 | |
| Advertising/Promotion | $3,500 | $3,500 | $4,500 | $4,500 | $5,000 | $5,000 | $6,000 | $6,000 | $7,500 | $7,500 | $10,000 | $10,000 | |
| Royalties | $0 | $0 | $0 | $0 | $0 | $0 | $96,970 | $96,970 | $96,970 | $96,970 | $93,240 | $96,970 | |
| Other Sales and Marketing Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Sales and Marketing Expenses | $9,500 | $9,500 | $10,500 | $10,500 | $11,000 | $11,000 | $109,670 | $109,670 | $111,170 | $111,170 | $109,940 | $113,670 | |
| Sales and Marketing % | 1.41% | 0.71% | 0.54% | 0.52% | 0.57% | 0.57% | 5.43% | 5.43% | 5.51% | 5.51% | 5.66% | 5.64% | |
| General and Administrative Expenses | |||||||||||||
| General and Administrative Payroll | $16,500 | $16,500 | $17,000 | $17,000 | $19,000 | $19,000 | $21,800 | $21,800 | $22,800 | $22,800 | $22,800 | $22,800 | |
| Sales and Marketing and Other Expenses | $6,000 | $6,000 | $7,000 | $7,000 | $7,500 | $7,500 | $105,470 | $105,470 | $106,970 | $106,970 | $105,740 | $109,470 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Rent | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
| Office 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 | |
| Accounting | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Legal | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Travel | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Insurance (property & casualty) | $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 & Benefits Payroll Burden | 23% | $27,675 | $27,675 | $28,290 | $28,290 | $30,750 | $30,750 | $35,055 | $35,055 | $36,285 | $36,285 | $36,285 | $36,285 |
| Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total General and Administrative Expenses | $64,675 | $64,675 | $66,790 | $66,790 | $71,750 | $71,750 | $176,825 | $176,825 | $180,555 | $180,555 | $179,325 | $183,055 | |
| General and Administrative % | 9.61% | 4.81% | 3.44% | 3.31% | 3.70% | 3.70% | 8.76% | 8.76% | 8.95% | 8.95% | 9.23% | 9.08% | |
| 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 | |
| Machine Maintenance | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Miscellaneous Expenses | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | |
| Total Other Expenses | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | |
| Other % | 1.86% | 0.93% | 0.64% | 0.62% | 0.64% | 0.64% | 0.62% | 0.62% | 0.62% | 0.62% | 0.64% | 0.62% | |
| Total Operating Expenses | $86,675 | $86,675 | $89,790 | $89,790 | $95,250 | $95,250 | $298,995 | $298,995 | $304,225 | $304,225 | $301,765 | $309,225 | |
| Profit Before Interest and Taxes | $232,547 | $574,338 | $874,469 | $917,381 | $869,182 | $869,182 | $707,976 | $707,776 | $702,346 | $702,346 | $665,091 | $694,322 | |
| EBITDA | $232,547 | $574,338 | $874,469 | $917,381 | $869,182 | $869,182 | $707,976 | $707,776 | $702,346 | $702,346 | $665,091 | $694,322 | |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Taxes Incurred | $69,764 | $195,275 | $297,319 | $311,910 | $295,522 | $295,522 | $240,712 | $240,644 | $238,798 | $238,798 | $226,131 | $236,069 | |
| Net Profit | $162,783 | $379,063 | $577,150 | $605,471 | $573,660 | $573,660 | $467,264 | $467,132 | $463,548 | $463,548 | $438,960 | $458,253 | |
| Net Profit/Sales | 24.20% | 28.18% | 29.74% | 30.00% | 29.56% | 29.56% | 23.15% | 23.15% | 22.97% | 22.97% | 22.59% | 22.74% | |
| 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 | $672,672 | $1,345,344 | $1,940,400 | $2,018,016 | $1,940,400 | $1,940,400 | $2,018,016 | $2,018,016 | $2,018,016 | $2,018,016 | $1,943,424 | $2,014,992 | |
| Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash from Operations | $672,672 | $1,345,344 | $1,940,400 | $2,018,016 | $1,940,400 | $1,940,400 | $2,018,016 | $2,018,016 | $2,018,016 | $2,018,016 | $1,943,424 | $2,014,992 | |
| 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 | $672,672 | $1,345,344 | $1,940,400 | $2,018,016 | $1,940,400 | $1,940,400 | $2,018,016 | $2,018,016 | $2,018,016 | $2,018,016 | $1,943,424 | $2,014,992 | |
| 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 | $73,684 | $102,300 | $127,048 | $127,048 | $129,048 | $129,048 | $132,748 | $132,948 | $134,148 | $134,148 | $134,148 | $134,148 | |
| Bill Payments | $25,623 | $782,957 | $1,207,607 | $1,523,626 | $1,319,526 | $1,200,606 | $1,244,981 | $1,455,087 | $1,418,015 | $1,420,320 | $1,417,374 | $1,336,251 | |
| Subtotal Spent on Operations | $99,307 | $885,257 | $1,334,655 | $1,650,674 | $1,448,574 | $1,329,654 | $1,377,729 | $1,588,035 | $1,552,163 | $1,554,468 | $1,551,522 | $1,470,399 | |
| 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 | $99,307 | $885,257 | $1,334,655 | $1,650,674 | $1,448,574 | $1,329,654 | $1,377,729 | $1,588,035 | $1,552,163 | $1,554,468 | $1,551,522 | $1,470,399 | |
| Net Cash Flow | $573,365 | $460,087 | $605,745 | $367,342 | $491,826 | $610,746 | $640,287 | $429,981 | $465,853 | $463,548 | $391,902 | $544,593 | |
| Cash Balance | $1,327,265 | $1,787,352 | $2,393,097 | $2,760,439 | $3,252,265 | $3,863,011 | $4,503,298 | $4,933,278 | $5,399,131 | $5,862,679 | $6,254,581 | $6,799,174 | |
| 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 | $753,900 | $1,327,265 | $1,787,352 | $2,393,097 | $2,760,439 | $3,252,265 | $3,863,011 | $4,503,298 | $4,933,278 | $5,399,131 | $5,862,679 | $6,254,581 | $6,799,174 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $332,493 | $664,984 | $959,302 | $997,477 | $959,112 | $959,112 | $997,477 | $997,477 | $997,477 | $997,477 | $959,112 | $997,477 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $753,900 | $1,659,757 | $2,452,336 | $3,352,399 | $3,757,916 | $4,211,377 | $4,822,123 | $5,500,774 | $5,930,755 | $6,396,608 | $6,860,156 | $7,213,693 | $7,796,650 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 |
| Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-term Assets | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 | $4,033,200 |
| Total Assets | $4,787,100 | $5,692,957 | $6,485,536 | $7,385,599 | $7,791,116 | $8,244,577 | $8,855,323 | $9,533,974 | $9,963,955 | $10,429,808 | $10,893,356 | $11,246,893 | $11,829,850 |
| 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 | $743,074 | $1,156,590 | $1,479,503 | $1,279,549 | $1,159,350 | $1,196,435 | $1,407,823 | $1,370,671 | $1,372,976 | $1,372,976 | $1,287,553 | $1,412,258 |
| 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 | $743,074 | $1,156,590 | $1,479,503 | $1,279,549 | $1,159,350 | $1,196,435 | $1,407,823 | $1,370,671 | $1,372,976 | $1,372,976 | $1,287,553 | $1,412,258 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $0 | $743,074 | $1,156,590 | $1,479,503 | $1,279,549 | $1,159,350 | $1,196,435 | $1,407,823 | $1,370,671 | $1,372,976 | $1,372,976 | $1,287,553 | $1,412,258 |
| Paid-in Capital | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 | $6,000,000 |
| Retained Earnings | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) | ($1,212,900) |
| Earnings | $0 | $162,783 | $541,846 | $1,118,996 | $1,724,467 | $2,298,127 | $2,871,787 | $3,339,051 | $3,806,184 | $4,269,732 | $4,733,280 | $5,172,240 | $5,630,493 |
| Total Capital | $4,787,100 | $4,949,883 | $5,328,946 | $5,906,096 | $6,511,567 | $7,085,227 | $7,658,887 | $8,126,151 | $8,593,284 | $9,056,832 | $9,520,380 | $9,959,340 | $10,417,593 |
| Total Liabilities and Capital | $4,787,100 | $5,692,957 | $6,485,536 | $7,385,599 | $7,791,116 | $8,244,577 | $8,855,323 | $9,533,974 | $9,963,955 | $10,429,808 | $10,893,356 | $11,246,893 | $11,829,850 |
| Net Worth | $4,787,100 | $4,949,883 | $5,328,946 | $5,906,096 | $6,511,567 | $7,085,227 | $7,658,887 | $8,126,151 | $8,593,284 | $9,056,832 | $9,520,380 | $9,959,340 | $10,417,593 |
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