Silver Bear Lodge
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 | |||||||||||||
| Rooms | 0% | $40,000 | $60,000 | $60,000 | $50,000 | $50,000 | $50,000 | $30,000 | $30,000 | $30,000 | $30,000 | $0 | $0 |
| Food | 0% | $8,000 | $16,000 | $20,000 | $18,000 | $18,000 | $12,000 | $8,000 | $7,000 | $7,000 | $7,000 | $0 | $0 |
| Ski Rentals | 0% | $16,000 | $24,000 | $24,000 | $24,000 | $24,000 | $20,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Clothing | 0% | $4,000 | $10,000 | $8,000 | $7,000 | $7,000 | $6,000 | $4,000 | $4,000 | $4,000 | $4,000 | $0 | $0 |
| Total Sales | $68,000 | $110,000 | $112,000 | $99,000 | $99,000 | $88,000 | $42,000 | $41,000 | $41,000 | $41,000 | $0 | $0 | |
| 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 | |
| Rooms | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Food | $4,000 | $8,000 | $10,000 | $9,000 | $9,000 | $6,000 | $3,000 | $3,500 | $3,500 | $3,500 | $0 | $0 | |
| Ski Rentals | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Clothing | $1,400 | $4,000 | $3,600 | $3,000 | $3,000 | $2,700 | $1,500 | $1,500 | $1,500 | $1,500 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $5,400 | $12,000 | $13,600 | $12,000 | $12,000 | $8,700 | $4,500 | $5,000 | $5,000 | $5,000 | $0 | $0 | |
| 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 | ||
| Manager | 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 |
| Assistant Manager | 0% | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 |
| Lodge Staff | 0% | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $8,000 | $8,000 | $8,000 | $8,000 | $0 | $0 |
| Food Store Staff | 0% | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $3,000 | $3,000 | $3,000 | $3,000 | $0 | $0 |
| Ski Rental/Clothing Store Staff | 0% | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $2,000 | $2,000 | $2,000 | $2,000 | $0 | $0 |
| Maintenance Staff | 0% | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
| Cleaning Staff | 0% | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 |
| Total People | 22 | 22 | 22 | 22 | 22 | 22 | 18 | 18 | 18 | 18 | 9 | 9 | |
| Total Payroll | $38,500 | $38,500 | $38,500 | $38,500 | $38,500 | $38,500 | $29,500 | $29,500 | $29,500 | $29,500 | $16,500 | $16,500 | |
| 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 | $68,000 | $110,000 | $112,000 | $99,000 | $99,000 | $88,000 | $42,000 | $41,000 | $41,000 | $41,000 | $0 | $0 | |
| Direct Cost of Sales | $5,400 | $12,000 | $13,600 | $12,000 | $12,000 | $8,700 | $4,500 | $5,000 | $5,000 | $5,000 | $0 | $0 | |
| Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $5,400 | $12,000 | $13,600 | $12,000 | $12,000 | $8,700 | $4,500 | $5,000 | $5,000 | $5,000 | $0 | $0 | |
| Gross Margin | $62,600 | $98,000 | $98,400 | $87,000 | $87,000 | $79,300 | $37,500 | $36,000 | $36,000 | $36,000 | $0 | $0 | |
| Gross Margin % | 92.06% | 89.09% | 87.86% | 87.88% | 87.88% | 90.11% | 89.29% | 87.80% | 87.80% | 87.80% | 0.00% | 0.00% | |
| Expenses | |||||||||||||
| Payroll | $38,500 | $38,500 | $38,500 | $38,500 | $38,500 | $38,500 | $29,500 | $29,500 | $29,500 | $29,500 | $16,500 | $16,500 | |
| Sales and Marketing and Other Expenses | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
| Depreciation | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | $1,190 | |
| Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Utilities | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $1,500 | $1,300 | $1,300 | $1,300 | $1,300 | $1,300 | |
| Insurance | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Lease | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Payroll Taxes | 15% | $5,775 | $5,775 | $5,775 | $5,775 | $5,775 | $5,775 | $4,425 | $4,425 | $4,425 | $4,425 | $2,475 | $2,475 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $55,465 | $55,465 | $55,465 | $55,465 | $55,465 | $55,465 | $43,615 | $43,415 | $43,415 | $43,415 | $28,465 | $28,465 | |
| Profit Before Interest and Taxes | $7,135 | $42,535 | $42,935 | $31,535 | $31,535 | $23,835 | ($6,115) | ($7,415) | ($7,415) | ($7,415) | ($28,465) | ($28,465) | |
| EBITDA | $8,325 | $43,725 | $44,125 | $32,725 | $32,725 | $25,025 | ($4,925) | ($6,225) | ($6,225) | ($6,225) | ($27,275) | ($27,275) | |
| Interest Expense | $2,896 | $2,875 | $2,854 | $2,833 | $2,813 | $2,792 | $2,771 | $2,750 | $2,729 | $2,708 | $2,688 | $2,667 | |
| Taxes Incurred | $1,272 | $11,898 | $12,024 | $8,611 | $8,617 | $6,313 | ($2,666) | ($3,050) | ($3,043) | ($3,037) | ($9,346) | ($9,340) | |
| Net Profit | $2,967 | $27,762 | $28,057 | $20,091 | $20,106 | $14,730 | ($6,220) | ($7,116) | ($7,101) | ($7,086) | ($21,807) | ($21,792) | |
| Net Profit/Sales | 4.36% | 25.24% | 25.05% | 20.29% | 20.31% | 16.74% | -14.81% | -17.35% | -17.32% | -17.28% | 0.00% | 0.00% | |
| 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 | $68,000 | $110,000 | $112,000 | $99,000 | $99,000 | $88,000 | $42,000 | $41,000 | $41,000 | $41,000 | $0 | $0 | |
| Subtotal Cash from Operations | $68,000 | $110,000 | $112,000 | $99,000 | $99,000 | $88,000 | $42,000 | $41,000 | $41,000 | $41,000 | $0 | $0 | |
| 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 | $68,000 | $110,000 | $112,000 | $99,000 | $99,000 | $88,000 | $42,000 | $41,000 | $41,000 | $41,000 | $0 | $0 | |
| 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 | $38,500 | $38,500 | $38,500 | $38,500 | $38,500 | $38,500 | $29,500 | $29,500 | $29,500 | $29,500 | $16,500 | $16,500 | |
| Bill Payments | $845 | $25,916 | $42,605 | $44,086 | $39,218 | $39,017 | $33,045 | $17,527 | $17,425 | $17,410 | $16,954 | $4,116 | |
| Subtotal Spent on Operations | $39,345 | $64,416 | $81,105 | $82,586 | $77,718 | $77,517 | $62,545 | $47,027 | $46,925 | $46,910 | $33,454 | $20,616 | |
| 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 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Purchase Other Current Assets | $0 | $3,000 | $1,000 | $0 | $3,000 | $0 | $2,000 | $0 | $2,000 | $0 | $0 | $3,000 | |
| 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 | $41,845 | $69,916 | $84,605 | $85,086 | $83,218 | $80,017 | $67,045 | $49,527 | $51,425 | $49,410 | $35,954 | $26,116 | |
| Net Cash Flow | $26,155 | $40,084 | $27,395 | $13,914 | $15,782 | $7,983 | ($25,045) | ($8,527) | ($10,425) | ($8,410) | ($35,954) | ($26,116) | |
| Cash Balance | $40,755 | $80,839 | $108,234 | $122,149 | $137,930 | $145,914 | $120,869 | $112,342 | $101,917 | $93,507 | $57,553 | $31,437 | |
| 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 | $14,600 | $40,755 | $80,839 | $108,234 | $122,149 | $137,930 | $145,914 | $120,869 | $112,342 | $101,917 | $93,507 | $57,553 | $31,437 |
| Other Current Assets | $0 | $0 | $3,000 | $4,000 | $4,000 | $7,000 | $7,000 | $9,000 | $9,000 | $11,000 | $11,000 | $11,000 | $14,000 |
| Total Current Assets | $14,600 | $40,755 | $83,839 | $112,234 | $126,149 | $144,930 | $152,914 | $129,869 | $121,342 | $112,917 | $104,507 | $68,553 | $45,437 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 |
| Accumulated Depreciation | $0 | $1,190 | $2,380 | $3,570 | $4,760 | $5,950 | $7,140 | $8,330 | $9,520 | $10,710 | $11,900 | $13,090 | $14,280 |
| Total Long-term Assets | $350,000 | $348,810 | $347,620 | $346,430 | $345,240 | $344,050 | $342,860 | $341,670 | $340,480 | $339,290 | $338,100 | $336,910 | $335,720 |
| Total Assets | $364,600 | $389,565 | $431,459 | $458,664 | $471,389 | $488,980 | $495,774 | $471,539 | $461,822 | $452,207 | $442,607 | $405,463 | $381,157 |
| 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 | $24,498 | $41,130 | $42,778 | $37,912 | $37,897 | $32,460 | $16,946 | $16,845 | $16,831 | $16,816 | $3,980 | $3,965 |
| 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 | $24,498 | $41,130 | $42,778 | $37,912 | $37,897 | $32,460 | $16,946 | $16,845 | $16,831 | $16,816 | $3,980 | $3,965 |
| Long-term Liabilities | $350,000 | $347,500 | $345,000 | $342,500 | $340,000 | $337,500 | $335,000 | $332,500 | $330,000 | $327,500 | $325,000 | $322,500 | $320,000 |
| Total Liabilities | $350,000 | $371,998 | $386,130 | $385,278 | $377,912 | $375,397 | $367,460 | $349,446 | $346,845 | $344,331 | $341,816 | $326,480 | $323,965 |
| Paid-in Capital | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 |
| Retained Earnings | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) | ($185,400) |
| Earnings | $0 | $2,967 | $30,729 | $58,786 | $78,877 | $98,983 | $113,713 | $107,493 | $100,378 | $93,277 | $86,190 | $64,384 | $42,592 |
| Total Capital | $14,600 | $17,567 | $45,329 | $73,386 | $93,477 | $113,583 | $128,313 | $122,093 | $114,978 | $107,877 | $100,790 | $78,984 | $57,192 |
| Total Liabilities and Capital | $364,600 | $389,565 | $431,459 | $458,664 | $471,389 | $488,980 | $495,774 | $471,539 | $461,822 | $452,207 | $442,607 | $405,463 | $381,157 |
| Net Worth | $14,600 | $17,567 | $45,329 | $73,386 | $93,477 | $113,583 | $128,313 | $122,093 | $114,978 | $107,877 | $100,790 | $78,984 | $57,192 |
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