Glass Dreams
Company Summary
Glass Dreams is a highly successful art studio and gallery, as well as a small retail outlet for supplies, tools and glass in Montclair. Jan Primak is a popular stained glass instructor and the studio has become a gathering place for aspiring stained glass artists.
2.1 Company History
Jan uses stained glass art and the play of ambient light to create her artistic interpretations. Jan combines the shifting qualities of light with the subtle textures and colors of glass, to create graceful, elegant, exclusive pieces for discriminating collectors from around the world.
Jan Primak has chosen to work in Montclair, but she is an artist of international renown. Her singular stained glass creations have sold to Japan, Belgium, Egypt, Australia and the United States. A high-energy individual, she has a seemingly limitless supply of creative ideas. She proudly emphasizes the individuality of each and every piece she creates. Her singular art pieces and limitless ideas result in high demand for her work.
Her studio, gallery and store are combined in one, which creates an unusually wonderful experience for customers and aspiring stained glass artists. Her classes are so popular that the existing store space can no longer accommodate her students and customers.
| Past Performance | |||
| 1999 | 2000 | 2001 | |
| Sales | $180,000 | $220,000 | $260,000 |
| Gross Margin | $50,000 | $60,000 | $75,000 |
| Gross Margin % | 27.78% | 27.27% | 28.85% |
| Operating Expenses | $100,000 | $110,000 | $120,000 |
| Inventory Turnover | 13.00 | 11.85 | 5.52 |
| Balance Sheet | |||
| 1999 | 2000 | 2001 | |
| Current Assets | |||
| Cash | $10,000 | $30,000 | $50,000 |
| Inventory | $10,000 | $17,000 | $50,000 |
| Other Current Assets | $0 | $0 | $0 |
| Total Current Assets | $20,000 | $47,000 | $100,000 |
| Long-term Assets | |||
| Long-term Assets | $20,000 | $20,000 | $20,000 |
| Accumulated Depreciation | $1,000 | $2,000 | $3,000 |
| Total Long-term Assets | $19,000 | $18,000 | $17,000 |
| Total Assets | $39,000 | $65,000 | $117,000 |
| Current Liabilities | |||
| Accounts Payable | $14,000 | $15,000 | $16,000 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities (interest free) | $0 | $0 | $0 |
| Total Current Liabilities | $14,000 | $15,000 | $16,000 |
| Long-term Liabilities | $0 | $0 | $50,000 |
| Total Liabilities | $14,000 | $15,000 | $66,000 |
| Paid-in Capital | $0 | $0 | $0 |
| Retained Earnings | ($5,000) | $20,000 | $11,000 |
| Earnings | $30,000 | $30,000 | $40,000 |
| Total Capital | $25,000 | $50,000 | $51,000 |
| Total Capital and Liabilities | $39,000 | $65,000 | $117,000 |
| Other Inputs | |||
| Payment Days | 0 | 0 | 0 |
2.2 Company Ownership
Jan Primak is the owner of Glass Dreams.
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