Tennis Master Pro Shops, Inc.
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 | ||
| Unit Sales | |||||||||||||
| Master Franchises | 0% | 0 | 0 | 1 | 1 | 2 | 1 | 2 | 1 | 1 | 1 | 0 | 0 |
| Franchise Stores | 0% | 2 | 2 | 3 | 3 | 5 | 6 | 6 | 8 | 8 | 8 | 6 | 3 |
| Royalties | 0% | 0 | 2,500 | 3,750 | 7,500 | 12,500 | 20,000 | 22,500 | 30,000 | 37,500 | 62,500 | 120,000 | 200,000 |
| Advertising Contribution | 0% | 0 | 1,875 | 2,812 | 5,625 | 9,375 | 15,000 | 16,875 | 22,500 | 28,125 | 46,875 | 90,000 | 150,000 |
| Wholesale Sales | 0% | 20,000 | 20,780 | 31,170 | 32,340 | 53,900 | 66,240 | 67,020 | 89,360 | 91,700 | 99,500 | 97,440 | 92,400 |
| Company Store Sales | 0% | 10,000 | 40,000 | 60,000 | 80,000 | 150,000 | 200,000 | 260,000 | 300,000 | 320,000 | 330,000 | 340,000 | 360,000 |
| Total Unit Sales | 30,002 | 65,157 | 97,736 | 125,469 | 225,782 | 301,247 | 366,403 | 441,869 | 477,334 | 538,884 | 647,446 | 802,403 | |
| Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Master Franchises | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | $125,000.00 | |
| Franchise Stores | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | $25,000.00 | |
| Royalties | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
| Advertising Contribution | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
| Wholesale Sales | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
| Company Store Sales | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | |
| Sales | |||||||||||||
| Master Franchises | $0 | $0 | $125,000 | $125,000 | $250,000 | $125,000 | $250,000 | $125,000 | $125,000 | $125,000 | $0 | $0 | |
| Franchise Stores | $50,000 | $50,000 | $75,000 | $75,000 | $125,000 | $150,000 | $150,000 | $200,000 | $200,000 | $200,000 | $150,000 | $75,000 | |
| Royalties | $0 | $2,500 | $3,750 | $7,500 | $12,500 | $20,000 | $22,500 | $30,000 | $37,500 | $62,500 | $120,000 | $200,000 | |
| Advertising Contribution | $0 | $1,875 | $2,812 | $5,625 | $9,375 | $15,000 | $16,875 | $22,500 | $28,125 | $46,875 | $90,000 | $150,000 | |
| Wholesale Sales | $20,000 | $20,780 | $31,170 | $32,340 | $53,900 | $66,240 | $67,020 | $89,360 | $91,700 | $99,500 | $97,440 | $92,400 | |
| Company Store Sales | $10,000 | $40,000 | $60,000 | $80,000 | $150,000 | $200,000 | $260,000 | $300,000 | $320,000 | $330,000 | $340,000 | $360,000 | |
| Total Sales | $80,000 | $115,155 | $297,732 | $325,465 | $600,775 | $576,240 | $766,395 | $766,860 | $802,325 | $863,875 | $797,440 | $877,400 | |
| Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Master Franchises | 0.00% | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 | $12,500.00 |
| Franchise Stores | 0.00% | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 | $5,000.00 |
| Royalties | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Advertising Contribution | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Wholesale Sales | 0.00% | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 | $0.70 |
| Company Store Sales | 0.00% | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 | $0.30 |
| Direct Cost of Sales | |||||||||||||
| Master Franchises | $0 | $0 | $12,500 | $12,500 | $25,000 | $12,500 | $25,000 | $12,500 | $12,500 | $12,500 | $0 | $0 | |
| Franchise Stores | $10,000 | $10,000 | $15,000 | $15,000 | $25,000 | $30,000 | $30,000 | $40,000 | $40,000 | $40,000 | $30,000 | $15,000 | |
| Royalties | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Advertising Contribution | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Wholesale Sales | $14,000 | $14,546 | $21,819 | $22,638 | $37,730 | $46,368 | $46,914 | $62,552 | $64,190 | $69,650 | $68,208 | $64,680 | |
| Company Store Sales | $3,000 | $12,000 | $18,000 | $24,000 | $45,000 | $60,000 | $78,000 | $90,000 | $96,000 | $99,000 | $102,000 | $108,000 | |
| Subtotal Direct Cost of Sales | $27,000 | $36,546 | $67,319 | $74,138 | $132,730 | $148,868 | $179,914 | $205,052 | $212,690 | $221,150 | $200,208 | $187,680 | |
| 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 | |||||||||||||
| Wholesale Distribution Mgr. | $0 | $0 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Distribution Asst. | $0 | $0 | $0 | $0 | $0 | $0 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
| Customer Service | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | |
| Subtotal | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $5,250 | $5,250 | $5,250 | $5,250 | $5,250 | $5,250 | |
| Sales and Marketing Personnel | |||||||||||||
| Franchise Sales Dir. | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Franchise Salesperson | $0 | $0 | $0 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Director of Marketing | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
| Subtotal | $0 | $4,000 | $7,000 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | |
| General and Administrative Personnel | |||||||||||||
| CEO | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | |
| VP Corp. Dev. | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
| CFO | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Controller/Systems Admin. | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Store Operations Mgr. | $0 | $0 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | $3,300 | |
| Training Mgr. | $0 | $0 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Administrative Asst. | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | |
| Subtotal | $11,000 | $11,000 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | |
| Other Personnel | |||||||||||||
| Salaries, Company Stores | $16,200 | $16,200 | $16,200 | $32,400 | $32,400 | $48,600 | $48,600 | $48,600 | $64,800 | $64,800 | $64,800 | $64,800 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $16,200 | $16,200 | $16,200 | $32,400 | $32,400 | $48,600 | $48,600 | $48,600 | $64,800 | $64,800 | $64,800 | $64,800 | |
| Total People | 3 | 4 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 13 | 13 | |
| Total Payroll | $27,200 | $31,200 | $49,500 | $68,200 | $68,200 | $84,400 | $85,650 | $85,650 | $101,850 | $101,850 | $101,850 | $101,850 | |
| 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 | $80,000 | $115,155 | $297,732 | $325,465 | $600,775 | $576,240 | $766,395 | $766,860 | $802,325 | $863,875 | $797,440 | $877,400 | |
| Direct Cost of Sales | $27,000 | $36,546 | $67,319 | $74,138 | $132,730 | $148,868 | $179,914 | $205,052 | $212,690 | $221,150 | $200,208 | $187,680 | |
| Production Payroll | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $5,250 | $5,250 | $5,250 | $5,250 | $5,250 | $5,250 | |
| Other Costs of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $27,000 | $36,546 | $71,319 | $78,138 | $136,730 | $152,868 | $185,164 | $210,302 | $217,940 | $226,400 | $205,458 | $192,930 | |
| Gross Margin | $53,000 | $78,609 | $226,413 | $247,327 | $464,045 | $423,372 | $581,231 | $556,558 | $584,385 | $637,475 | $591,982 | $684,470 | |
| Gross Margin % | 66.25% | 68.26% | 76.05% | 75.99% | 77.24% | 73.47% | 75.84% | 72.58% | 72.84% | 73.79% | 74.24% | 78.01% | |
| Operating Expenses | |||||||||||||
| Sales and Marketing Expenses | |||||||||||||
| Sales and Marketing Payroll | $0 | $4,000 | $7,000 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | $9,500 | |
| Advertising/Promotion | $8,000 | $11,516 | $29,773 | $32,547 | $60,078 | $57,624 | $76,640 | $76,686 | $80,233 | $86,388 | $79,744 | $87,740 | |
| Travel/Entertainment | $2,000 | $2,000 | $2,000 | $3,000 | $3,000 | $3,000 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | |
| Marketing Materials | $0 | $15,000 | $10,000 | $5,000 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | |
| Other Sales and Marketing Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Sales and Marketing Expenses | $10,000 | $32,516 | $48,773 | $50,047 | $75,078 | $72,624 | $92,140 | $92,186 | $95,733 | $101,888 | $95,244 | $103,240 | |
| Sales and Marketing % | 12.50% | 28.24% | 16.38% | 15.38% | 12.50% | 12.60% | 12.02% | 12.02% | 11.93% | 11.79% | 11.94% | 11.77% | |
| General and Administrative Expenses | |||||||||||||
| General and Administrative Payroll | $11,000 | $11,000 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 | |
| Marketing/Promotion | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Depreciation | $0 | $0 | $2,499 | $3,332 | $3,332 | $4,165 | $4,165 | $4,165 | $4,998 | $4,998 | $4,998 | $4,998 | |
| Leased Equipment | $2,830 | $2,830 | $2,830 | $5,660 | $5,660 | $8,490 | $8,490 | $8,490 | $10,520 | $10,520 | $10,520 | $10,520 | |
| Utilities | $1,000 | $1,000 | $2,500 | $3,500 | $3,500 | $4,500 | $4,500 | $4,500 | $5,500 | $5,500 | $5,500 | $5,500 | |
| Telephone/Fax | $1,500 | $2,000 | $2,500 | $2,500 | $2,500 | $3,000 | $3,000 | $3,000 | $3,300 | $3,300 | $3,300 | $3,300 | |
| Insurance | $1,500 | $1,500 | $3,000 | $3,000 | $3,000 | $3,600 | $3,600 | $3,600 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Rent | $4,000 | $4,000 | $9,000 | $13,000 | $13,000 | $17,000 | $17,000 | $17,000 | $21,000 | $21,000 | $21,000 | $21,000 | |
| Payroll Taxes | 22% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total General and Administrative Expenses | $21,830 | $22,330 | $44,629 | $53,292 | $53,292 | $63,055 | $63,055 | $63,055 | $71,618 | $71,618 | $71,618 | $71,618 | |
| General and Administrative % | 27.29% | 19.39% | 14.99% | 16.37% | 8.87% | 10.94% | 8.23% | 8.22% | 8.93% | 8.29% | 8.98% | 8.16% | |
| Other Expenses: | |||||||||||||
| Other Payroll | $16,200 | $16,200 | $16,200 | $32,400 | $32,400 | $48,600 | $48,600 | $48,600 | $64,800 | $64,800 | $64,800 | $64,800 | |
| Consultants | $0 | $0 | $25,000 | $0 | $25,000 | $0 | $25,000 | $0 | $0 | $0 | $0 | $0 | |
| Legal | $0 | $0 | $20,000 | $0 | $20,000 | $0 | $15,000 | $0 | $0 | $0 | $0 | $0 | |
| Total Other Expenses | $16,200 | $16,200 | $61,200 | $32,400 | $77,400 | $48,600 | $88,600 | $48,600 | $64,800 | $64,800 | $64,800 | $64,800 | |
| Other % | 20.25% | 14.07% | 20.56% | 9.95% | 12.88% | 8.43% | 11.56% | 6.34% | 8.08% | 7.50% | 8.13% | 7.39% | |
| Total Operating Expenses | $48,030 | $71,046 | $154,602 | $135,739 | $205,770 | $184,279 | $243,795 | $203,841 | $232,151 | $238,306 | $231,662 | $239,658 | |
| Profit Before Interest and Taxes | $4,970 | $7,563 | $71,811 | $111,588 | $258,275 | $239,093 | $337,436 | $352,717 | $352,234 | $399,169 | $360,320 | $444,812 | |
| EBITDA | $4,970 | $7,563 | $74,310 | $114,920 | $261,607 | $243,258 | $341,601 | $356,882 | $357,232 | $404,167 | $365,318 | $449,810 | |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Taxes Incurred | $1,640 | $2,496 | $23,698 | $36,824 | $85,231 | $78,901 | $111,354 | $116,397 | $116,237 | $131,726 | $118,906 | $146,788 | |
| Net Profit | $3,330 | $5,067 | $48,113 | $74,764 | $173,044 | $160,192 | $226,082 | $236,320 | $235,997 | $267,443 | $241,414 | $298,024 | |
| Net Profit/Sales | 4.16% | 4.40% | 16.16% | 22.97% | 28.80% | 27.80% | 29.50% | 30.82% | 29.41% | 30.96% | 30.27% | 33.97% | |
| 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 | $80,000 | $115,155 | $297,732 | $325,465 | $600,775 | $576,240 | $766,395 | $766,860 | $802,325 | $863,875 | $797,440 | $877,400 | |
| Subtotal Cash from Operations | $80,000 | $115,155 | $297,732 | $325,465 | $600,775 | $576,240 | $766,395 | $766,860 | $802,325 | $863,875 | $797,440 | $877,400 | |
| 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 | $100,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $80,000 | $115,155 | $397,732 | $325,465 | $600,775 | $576,240 | $766,395 | $766,860 | $802,325 | $863,875 | $797,440 | $877,400 | |
| 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 | $27,200 | $31,200 | $49,500 | $68,200 | $68,200 | $84,400 | $85,650 | $85,650 | $101,850 | $101,850 | $101,850 | $101,850 | |
| Bill Payments | $1,439 | $44,711 | $94,124 | $229,977 | $194,469 | $418,136 | $349,882 | $484,106 | $468,360 | $468,916 | $496,465 | $427,228 | |
| Subtotal Spent on Operations | $28,639 | $75,911 | $143,624 | $298,177 | $262,669 | $502,536 | $435,532 | $569,756 | $570,210 | $570,766 | $598,315 | $529,078 | |
| 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 | $28,639 | $75,911 | $143,624 | $298,177 | $262,669 | $502,536 | $435,532 | $569,756 | $570,210 | $570,766 | $598,315 | $529,078 | |
| Net Cash Flow | $51,361 | $39,244 | $254,108 | $27,288 | $338,106 | $73,704 | $330,863 | $197,104 | $232,115 | $293,109 | $199,125 | $348,322 | |
| Cash Balance | $141,361 | $180,605 | $434,713 | $462,001 | $800,107 | $873,811 | $1,204,674 | $1,401,778 | $1,633,893 | $1,927,003 | $2,126,128 | $2,474,450 | |
| 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 | $90,000 | $141,361 | $180,605 | $434,713 | $462,001 | $800,107 | $873,811 | $1,204,674 | $1,401,778 | $1,633,893 | $1,927,003 | $2,126,128 | $2,474,450 |
| Inventory | $36,000 | $29,700 | $40,201 | $74,051 | $81,552 | $146,003 | $163,755 | $197,905 | $225,557 | $233,959 | $243,265 | $220,229 | $206,448 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $126,000 | $171,061 | $220,806 | $508,764 | $543,553 | $946,110 | $1,037,566 | $1,402,580 | $1,627,335 | $1,867,852 | $2,170,268 | $2,346,357 | $2,680,898 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accumulated Depreciation | $0 | $0 | $0 | $2,499 | $5,831 | $9,163 | $13,328 | $17,493 | $21,658 | $26,656 | $31,654 | $36,652 | $41,650 |
| Total Long-term Assets | $0 | $0 | $0 | ($2,499) | ($5,831) | ($9,163) | ($13,328) | ($17,493) | ($21,658) | ($26,656) | ($31,654) | ($36,652) | ($41,650) |
| Total Assets | $126,000 | $171,061 | $220,806 | $506,265 | $537,722 | $936,947 | $1,024,238 | $1,385,087 | $1,605,677 | $1,841,196 | $2,138,614 | $2,309,705 | $2,639,248 |
| 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 | $41,731 | $86,409 | $223,754 | $180,448 | $406,628 | $333,727 | $468,494 | $452,764 | $452,286 | $482,260 | $411,937 | $443,456 |
| 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 | $41,731 | $86,409 | $223,754 | $180,448 | $406,628 | $333,727 | $468,494 | $452,764 | $452,286 | $482,260 | $411,937 | $443,456 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $0 | $41,731 | $86,409 | $223,754 | $180,448 | $406,628 | $333,727 | $468,494 | $452,764 | $452,286 | $482,260 | $411,937 | $443,456 |
| Paid-in Capital | $500,000 | $500,000 | $500,000 | $600,000 | $600,000 | $600,000 | $600,000 | $600,000 | $600,000 | $600,000 | $600,000 | $600,000 | $600,000 |
| Retained Earnings | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) | ($374,000) |
| Earnings | $0 | $3,330 | $8,397 | $56,510 | $131,274 | $304,319 | $464,511 | $690,593 | $926,914 | $1,162,910 | $1,430,354 | $1,671,768 | $1,969,792 |
| Total Capital | $126,000 | $129,330 | $134,397 | $282,510 | $357,274 | $530,319 | $690,511 | $916,593 | $1,152,914 | $1,388,910 | $1,656,354 | $1,897,768 | $2,195,792 |
| Total Liabilities and Capital | $126,000 | $171,061 | $220,806 | $506,265 | $537,722 | $936,947 | $1,024,238 | $1,385,087 | $1,605,677 | $1,841,196 | $2,138,614 | $2,309,705 | $2,639,248 |
| Net Worth | $126,000 | $129,330 | $134,397 | $282,510 | $357,274 | $530,319 | $690,511 | $916,593 | $1,152,914 | $1,388,910 | $1,656,354 | $1,897,768 | $2,195,792 |
| 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 | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | 33.00% | |
| Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
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