City Taxi
Appendix
| Sales Forecast | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| Sales | |||||||||||||
| All services | 0% | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Sales | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
| Direct Cost of Sales | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
| All services | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | |
| Personnel Plan | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| Taxi Cabs & Administrative | 0% | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 |
| Maintenance & Repair | 0% | $9,057 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 | $9,058 |
| Total People | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | |
| Total Payroll | $18,115 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | |
| General Assumptions | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| 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% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
| Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Pro Forma Profit and Loss | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| Sales | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
| Direct Cost of Sales | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | $5,417 | |
| Other | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | |
| Total Cost of Sales | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | $5,833 | |
| Gross Margin | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | $10,833 | |
| Gross Margin % | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | 65.00% | |
| Expenses | |||||||||||||
| Payroll | $18,115 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | |
| Sales and Marketing and Other Expenses | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | $5,333 | |
| Depreciation | $625 | $625 | $625 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | $1,458 | |
| Research & Development | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
| Utilities | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | $167 | |
| Insurance | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | |
| Payroll Taxes | 15% | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 | $2,717 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $28,624 | $28,625 | $28,625 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | $29,458 | |
| Profit Before Interest and Taxes | ($17,791) | ($17,792) | ($17,792) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | ($18,625) | |
| EBITDA | ($17,166) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | ($17,167) | |
| Interest Expense | $290 | $288 | $285 | $283 | $281 | $279 | $277 | $275 | $273 | $271 | $269 | $267 | |
| Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Profit | ($18,080) | ($18,079) | ($18,077) | ($18,908) | ($18,906) | ($18,904) | ($18,902) | ($18,900) | ($18,898) | ($18,896) | ($18,893) | ($18,891) | |
| Net Profit/Sales | -108.48% | -108.48% | -108.46% | -113.45% | -113.44% | -113.42% | -113.41% | -113.40% | -113.39% | -113.37% | -113.36% | -113.35% | |
| Pro Forma Cash Flow | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| Cash Received | |||||||||||||
| Cash from Operations | |||||||||||||
| Cash Sales | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
| Subtotal Cash from Operations | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
| 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 | $2,500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $16,667 | $16,667 | $2,516,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | $16,667 | |
| Expenditures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
| Expenditures from Operations | |||||||||||||
| Cash Spending | $18,115 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | $18,116 | |
| Bill Payments | $24,134 | $16,007 | $16,005 | $16,003 | $16,001 | $15,999 | $15,996 | $15,994 | $15,992 | $15,990 | $15,988 | $15,986 | |
| Subtotal Spent on Operations | $42,249 | $34,123 | $34,121 | $34,119 | $34,117 | $34,115 | $34,112 | $34,110 | $34,108 | $34,106 | $34,104 | $34,102 | |
| 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 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | |
| 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 | $500,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Long-term Assets | $0 | $0 | $1,700,000 | $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 | $42,499 | $34,373 | $2,234,371 | $34,369 | $34,367 | $34,365 | $34,362 | $34,360 | $34,358 | $34,356 | $34,354 | $34,352 | |
| Net Cash Flow | ($25,832) | ($17,706) | $282,296 | ($17,702) | ($17,700) | ($17,698) | ($17,696) | ($17,694) | ($17,692) | ($17,690) | ($17,687) | ($17,685) | |
| Cash Balance | $19,168 | $1,462 | $283,758 | $266,056 | $248,356 | $230,658 | $212,962 | $195,268 | $177,577 | $159,887 | $142,200 | $124,514 | |
| Pro Forma Balance Sheet | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| Assets | Starting Balances | ||||||||||||
| Current Assets | |||||||||||||
| Cash | $45,000 | $19,168 | $1,462 | $283,758 | $266,056 | $248,356 | $230,658 | $212,962 | $195,268 | $177,577 | $159,887 | $142,200 | $124,514 |
| Other Current Assets | $13,400 | $13,400 | $13,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 | $513,400 |
| Total Current Assets | $58,400 | $32,568 | $14,862 | $797,158 | $779,456 | $761,756 | $744,058 | $726,362 | $708,668 | $690,977 | $673,287 | $655,600 | $637,914 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $75,000 | $75,000 | $75,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 | $1,775,000 |
| Accumulated Depreciation | $10,000 | $10,625 | $11,250 | $11,875 | $13,333 | $14,791 | $16,249 | $17,707 | $19,165 | $20,623 | $22,081 | $23,539 | $24,997 |
| Total Long-term Assets | $65,000 | $64,375 | $63,750 | $1,763,125 | $1,761,667 | $1,760,209 | $1,758,751 | $1,757,293 | $1,755,835 | $1,754,377 | $1,752,919 | $1,751,461 | $1,750,003 |
| Total Assets | $123,400 | $96,943 | $78,612 | $2,560,283 | $2,541,123 | $2,521,965 | $2,502,809 | $2,483,655 | $2,464,503 | $2,445,354 | $2,426,206 | $2,407,061 | $2,387,917 |
| Liabilities and Capital | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
| Current Liabilities | |||||||||||||
| Accounts Payable | $23,600 | $15,473 | $15,471 | $15,469 | $15,467 | $15,465 | $15,463 | $15,461 | $15,459 | $15,457 | $15,455 | $15,453 | $15,451 |
| Current Borrowing | $10,000 | $9,750 | $9,500 | $9,250 | $9,000 | $8,750 | $8,500 | $8,250 | $8,000 | $7,750 | $7,500 | $7,250 | $7,000 |
| Other Current Liabilities | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 | $25,400 |
| Subtotal Current Liabilities | $59,000 | $50,623 | $50,371 | $50,119 | $49,867 | $49,615 | $49,363 | $49,111 | $48,859 | $48,607 | $48,355 | $48,103 | $47,851 |
| Long-term Liabilities | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
| Total Liabilities | $84,000 | $75,623 | $75,371 | $75,119 | $74,867 | $74,615 | $74,363 | $74,111 | $73,859 | $73,607 | $73,355 | $73,103 | $72,851 |
| Paid-in Capital | $37,000 | $37,000 | $37,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 | $2,537,000 |
| Retained Earnings | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 |
| Earnings | $0 | ($18,080) | ($36,159) | ($54,237) | ($73,145) | ($92,051) | ($110,954) | ($129,856) | ($148,756) | ($167,654) | ($186,549) | ($205,443) | ($224,334) |
| Total Capital | $39,400 | $21,320 | $3,241 | $2,485,163 | $2,466,255 | $2,447,349 | $2,428,446 | $2,409,544 | $2,390,644 | $2,371,746 | $2,352,851 | $2,333,957 | $2,315,066 |
| Total Liabilities and Capital | $123,400 | $96,943 | $78,612 | $2,560,283 | $2,541,123 | $2,521,965 | $2,502,809 | $2,483,655 | $2,464,503 | $2,445,354 | $2,426,206 | $2,407,061 | $2,387,917 |
| Net Worth | $39,400 | $21,320 | $3,241 | $2,485,163 | $2,466,255 | $2,447,349 | $2,428,446 | $2,409,544 | $2,390,644 | $2,371,746 | $2,352,851 | $2,333,957 | $2,315,066 |
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