Projected Income Statement

III.
PROJECTED STATEMENT OF INCOME

Wellness Partnership
Projected Statement of Income
Year Ending 1 December 2017-2021
2017
2018
2019
2020
2021
2,308,878.36
2,539,766.20
2,770,654.04
3,001,541.88
3,232,429.72
Salary Expense
187,200.00
205,920.00
226,512.00
249,163.20
274,079.52
Rental expense
216,000.00
237,600.00
261,360.00
287,496.00
316,245.60
Utilities Expense
30,145.50
33,160.05
36,476.06
40,123.66
44,136.03
Advertising Expense
24,378.00
26,815.80
29,497.38
32,447.12
35,691.83
Commission Expense
346,331.75
380,964.93
415,598.11
450,231.28
484,864.46
Insurance Expense
25,000.00
27,500.00
30,250.00
33,275.00
36,602.50
Administrative Expense
436,800.00
480,480.00
528,528.00
581,380.80
639,518.88
Depreciation expense
Leasehold Depreciation Expense
27,675.72
27,675.72
27,675.72 A
27,675.72
27,675.72
Service Revenue
Expenses
112
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
Supplies Expense
62,594.22
44,281.26
53,137.51
63,765.01
76,518.02
Total Expenses
1,381,125.19
1,489,397.76
1,634,034.77
1,790,557.79
1,960,332.55
Operating Income
927,753.17
1,050,368.44
1,136,619.27
1,210,984.09
1,272,097.17
Tax
278,325.95
315,110.53
340,985.78
363,295.23
381,629.15
NET PROFIT/(LOSS) AFTER TAX
649,427.22
735,257.91
795,633.49
847,688.86
890,468.02
IV. PROJECTED STATEMENT OF CASH FLOWS

113
Projected Statement of Cash Flows
Year Ending 1 December 2017-2021
In Philippine Pesos
December 1
CASH FLOWS FROM OPERATING

ACTIVITIES
Net Income
Adjustment to reconcile Net Income
to net cash provided by operating
activities:
Depreciation
Changes in operating assets
Decrease (Increase) in:
Spa Supplies
Office Supplies
Maintenance Supplies
Increase (Decrease) in:
Loans Payable
Net Cash Provided by Operating
Activities
2017
2018
2019
2020
2021
649,427.22
735,257.91
795,633.49
847,688.86
890,468.02
52,675.72
52,675.72
52,675.72
52,675.72
52,675.72
(89,641.89)
(1,601.34)
(5,348.17)
(17,928.38)
(320.27)
(1,069.63)
(21,514.05)
(383.88)
(1,284.00)
(25,816.87)
(461.19)
(1,540.28)
(30,980.23)
(553.42)
(1,848.33)
80,000.00
20,000.00
20,000.00
20,000.00
20,000.00
685,511.54
748,615.35
805,127.28
852,546.24
889,761.76
CASH FLOWS FROM INVESTING

ACTIVITIES
114
Purchase of property and

equipment
CASH FLOWS FROM FINANCING
ACTIVITIES
Capital
NET INCREASE IN CASH AND
CASH EQUIVALENTS
CASH AT BEGINNING OF YEAR
CASH AT END OF YEAR
(911,471.51)
3,500,000.00
3,274,040.03
3,274,040.03
748,615.35
3,274,040.03
4,022,655.38
805,127.28
4,022,655.38
4,827,782.66
852,546.24
4,827,782.66
5,680,328.90
889,761.76
5,680,328.90
6,570,090.66
115
V. PROJECTED OF STATEMENT OF FINANCIAL POSITION
Projected Statement of Financial Position
Year Ending 1 December 2017 2021
2017
2018
2019
2020
2021
Cash & Cash in Bank
3,274,040.03
4,022,655.38
4,827,782.66
5,680,328.90
6,570,090.66
Spa Supplies
89,641.89
107,570.27
129,084.32
154,901.19
185,881.42
Office Supplies
1,601.34
1,921.61
2,305.93
2,767.12
3,320.54
Maintenance Supplies
5,348.17
6,417.80
7,701.36
9,241.64
11,089.97
3,370,631.43
4,138,565.06
4,966,874.27
5,847,238.85
6,770,382.59
911,471.51
911,471.51
911,471.51
(158,027.16)
5,720,318.62
(210,702.88)
6,548,007.48
(263,378.60)
7,418,475.50
Asset
s
Current Assets
Total Current Assets

Non-current Assets
Property and
Equipment
Accumulated Depreciation
TOTAL ASSETS
911,471.51
(52,675.72)
4,229,427.22
911,471.51
(105,351.44)
4,944,685.13
116
LIABILITIES AND EQUITY

CURRENT
LIABILITIES
Loans Payable
80,000.00
60,000.00
40,000.00
20,000.00
80,000.00
60,000.00
40,000.00
20,000.00
Share Capital
3,500,000.00
3,500,000.00
3,500,000.00
3,500,000.00
3,500,000.00
Retained Earnings
Total Equity
649,427.22
4,149,427.22
1,384,685.13
4,884,685.13
2,180,318.62
5,680,318.62
3,028,007.48
6,548,007.48
3,918,475.50
7,418,475.50
4,229,427.22
4,944,685.13
5,720,318.62
6,548,007.48
7,418,475.50
Total Current Liabilities

EQUITY
TOTAL LIABILITIES AND EQUITY
117
VI. PAYBACK METHOD

The computation for the payback period of ENVI Body Massage and Spa:
1. Cash Balance Ending 2017 = Accumulated Cash Flow 2017 ( 1 year)
2. Initial Investment Cash Balance Ending 2017 = Accumulated Cash Flow 2018
3. Accumulated Cash Flow 2019= (0.87)
Cash Balance Ending 2019
4. The payback period of the business is 1.87 years or 1 year and 10 months.
Year
Cash Balance Ending
Accumulated Cash Flow
Year
2017
3,274,040.03
3,274,040.03
1.00
2018
4,022,655.38
225,959.97
0.87
3,500,000.00
1.87
VII.NOTES TO FINANCIAL STATEMENTS

118
*Sales will increase 10% Annually

2017
2,328,882.97
2018
2,561,771.27
2019
2,817,948.39
2020
3,099,743.23
2021
3,409,717.56
Note 2
Allowance
Number of therapist
Working Days per year
total salary
200
312
187,200.00
2019
226,512.00
2020
assumption: 10% increase annually

2017
2018
187,200.00
205,920.00
249,163.20
2021
274,079.52
Note 3
119
Rent Expense per

Month
25,000.00
Number of months per

year
12

2018
2017
330,000.00
300,000.00
Total Rent
Expense per year
300,000.00
2019
363,000.00
2020
399,300.00
2021
439,230.00
Note 4
2017
2018
2019
2020
2021
Electricity
11,200.00
12,320.00
13,552.00
14,907.20
16,397.92
Water
Communicatio
n
6,945.00
7,639.50
8,403.45
9,243.80
10,168.17
13,200.55
14,520.61
15,972.67
17,569.93
33,160.05
36,476.06
40,123.66
44,136.03
Total
12,000.50
30,145.50
Note 5
120
Number of pieces
Unit Price
number of times per

year
Total
Tarpaulin
2.00
350.00
2,800.00
flyers
100
0.25
12
300.00
3,100.00
Total
2017
2018
2019
2020
2021
2,800.00
3,080.00
3,388.00
3,726.80
4,099.48
300.00
330.00
363.00
399.30
439.23
3,100.00
3,410.00
3,751.00
4,126.10
4,538.71
Note 6
Commission Rate
15%
Projected Sales
2,308,878.36
Total Commission expense

346,331.75
assumption: 10% of increase
Note 7
121
Wage
700.00
2017
436,800.00

Working days per year
Number of Manager
312
2
2018
480,480.00
2019
528,528.00
Total
436,800.00
2020
581,380.80
2021
639,518.88
122

Projected Income Statement

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III.

PROJECTED STATEMENT OF INCOME

NET PROFIT/(LOSS) AFTER TAX

IV. PROJECTED STATEMENT OF CASH FLOWS

CASH FLOWS FROM OPERATING

CASH FLOWS FROM INVESTING

Purchase of property and

V. PROJECTED OF STATEMENT OF FINANCIAL POSITION

Cash & Cash in Bank

Total Current Assets

LIABILITIES AND EQUITY

Total Current Liabilities

TOTAL LIABILITIES AND EQUITY

VI. PAYBACK METHOD

Cash Balance Ending

Accumulated Cash Flow

VII.NOTES TO FINANCIAL STATEMENTS

*Sales will increase 10% Annually

Working Days per year

assumption: 10% increase annually

Rent Expense per

Number of months per

assumption: 10% increase annually

number of times per

Total Commission expense

assumption: 10% of increase

assumption: 10% increase annually

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