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software published by Palo Alto Software, Inc. Names, loc ations and numbers may have been
changed, and substantial portions of the original plan text may have been omitted to preserve
confidentiality and proprietary information.
You are welcome to use this plan as a starting point to create your own, but you do not have
permission to resell, reproduce, publish, distribute or even c opy this plan as it exists here.
Requests for reprints, ac ademic use, and other dissemination of this sample plan should be emailed
to the marketing department of Palo Alto Software at marketing@paloalto.com. For product
information visit our Website: www.paloalto.com or call: 1-800-229-7526.
Confidentiality Agreement
Table of Contents
1.0 Executive Summary.............................................................................................................................1
1.1 Objectives ...................................................................................................................................2
1.2 Mission........................................................................................................................................2
1.3 Keys to Success ........................................................................................................................2
Chart: Highlights ......................................................................................................................3
2.0 Company Summary.............................................................................................................................3
2.1 Company History........................................................................................................................3
Table: Past Performance .......................................................................................................5
Chart: Past Performance .......................................................................................................6
2.2 Company Ownership .................................................................................................................6
3.0 Products ...............................................................................................................................................6
4.0 Market Analysis Summary..................................................................................................................7
4.1 Market Segmentation ................................................................................................................8
Table: Market Analysis ...........................................................................................................8
Chart: Market Analysis (Pie) ..................................................................................................9
4.2 Target Market Segment Strategy.............................................................................................9
4.3 Industry Analysis .........................................................................................................................9
4.3.1 Competition and Buying Patterns .............................................................................10
5.0 Strategy and Implementation Summary..........................................................................................10
5.1 Marketing Strategy ..................................................................................................................11
5.2 Sales Strategy..........................................................................................................................11
5.2.1 Sales Forecast ............................................................................................................11
Table: Sales Forecast.................................................................................................12
Chart: Sales Monthly ...................................................................................................12
Chart: Sales by Year ...................................................................................................13
5.3 Competitive Edge....................................................................................................................13
6.0 Web Plan Summary ..........................................................................................................................13
6.1 Website Marketing Strategy...................................................................................................14
6.2 Development Requirements ...................................................................................................14
7.0 Management Summary ....................................................................................................................14
7.1 Personnel Plan.........................................................................................................................14
Table: Personnel ...................................................................................................................15
8.0 Financial Plan ....................................................................................................................................15
8.1 Important Assumptions............................................................................................................15
Table: General Assumptions ...............................................................................................15
8.2 Break-even Analysis................................................................................................................15
Chart: Break-even Analysis .................................................................................................16
Table: Break-even Analysis .................................................................................................16
8.3 Projected Cash Flow...............................................................................................................16
Chart: Cash ...........................................................................................................................17
Table: Cash Flow..................................................................................................................18
8.4 Projected Profit and Loss .......................................................................................................19
Chart: Profit Monthly .............................................................................................................19
Chart: Profit Yearly................................................................................................................19
Chart: Gross Margin Monthly ...............................................................................................20
Chart: Gross Margin Yearly..................................................................................................20
Table: Profit and Loss ..........................................................................................................21
Page 1
Table of Contents
8.5 Projected Balance Sheet ........................................................................................................22
Table: Balance Sheet ...........................................................................................................22
8.6 Business Ratios .......................................................................................................................23
Table: Ratios .........................................................................................................................24
Table: Sales Forecast ...............................................................................................................................1
Table: Personnel ........................................................................................................................................2
Table: General Assumptions ....................................................................................................................3
Table: Profit and Loss ...............................................................................................................................4
Table: Cash Flow .......................................................................................................................................5
Table: Balance Sheet ................................................................................................................................6
Page 2
1.1 Objectives
The overall dec line of the tobacco industry has lead to lower profit margins and increased risks
and costs. Therefore, in order to remain a viable firm, we have created a revitalization plan that
includes the following goals.
Reduce costs by 15% over the next three years and ultimately by 20%, spec ifically
concentrating on inventory overhead.
Expand our customer base through the launching of our new website and our online
ordering distribution outlet. Increase market awareness of our products through
selected national advertising.
Differentiate our patron's purchasing experience through the creation of our tobacco
cafe.
1.2 Mission
The Kiowa Smoke Shops strives to offer quality products, brands, and responsive service for a
good price. Kiowa seeks to offer a unique experience to its patrons by stoc king the most
comprehensive tobacco products available for its disc erning consumers and creating an
intimate and comforting environment for the spec ialty and recreational tobacco customer.
Kiowa will continue to maintain the highest standards of service in the tobacco industry.
Page 4
FY 2002
$693,159
$207,670
29.96%
$160,141
8.00
FY 2003
$666,715
$195,414
29.31%
$160,349
8.00
FY 2001
FY 2002
FY 2003
$50,712
$84,166
$13,729
$148,607
$45,117
$80,687
$14,866
$140,670
$43,682
$76,362
$11,558
$131,602
Long-term Assets
Long-term Assets
$61,000
$56,500
$56,820
Accumulated Depreciation
Total Long-term Assets
$8,000
$53,000
$10,000
$46,500
$12,000
$44,820
$201,607
$187,170
$176,422
$45,838
$35,915
$5,000
$86,753
$47,679
$25,359
$7,000
$80,038
$44,042
$24,820
$5,600
$74,462
Sales
Gross Margin
Gross Margin %
Operating Expenses
Inventory Turnover
Balance Sheet
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
Total Assets
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities (interest free)
Total Current Liabilities
Long-term Liabilities
Total Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Capital and Liabilities
Other Inputs
Payment Days
$35,335
$32,877
$30,761
$122,088
$112,915
$105,223
$0
$0
$0
($5,481)
$85,000
$79,519
($10,745)
$85,000
$74,255
($8,801)
$80,000
$71,199
$201,607
$187,170
$176,422
45
45
45
Page 5
3.0 Products
Kiowa Smoke Shops offers the widest variety of specialty and named brand tobaccos, cigars,
cigarettes, and roll-your-own accessories in the Kansas- Missouri area. A listing of all our
products would take up too much spac e, but a partial list is provided to give the reader an
idea of the quality and sc ope of our products.
Cigars Brands, Individual and Boxed
Kiowa carries many of the finest brands of cigars currently being produced throughout the world,
such as:
Braniff
Balmoral Royal
Primo Del Rey
Indian Tabac
La Gloria Cubana
Tony Borhani
Victor Sinclair
Accessories
Page 6
Ashtrays
Pipes
Cigarette and cigar cases
Fumidors
Tobacco jars
Lighters
Flasks
Cleaners
Roll-your-own Cigarettes
For clients who prefer to roll their own c igarettes, Kiowa carries a number of fine tobaccos and
other ac cessories for doing just that. Listed below are some of the cigarette tobaccos that we
currently have available.
Cigarette Tobacco Brands
Mc Clintoc k Virginian
Brookfield
Drum
Bugler
Sampson
Bali Shag
American Spirit
American Ribbon
Kool Canvandish
Ambrosia
Britannica Blend
Captain English
Mc Clelland
Dunhill
Mac Baren
Flying Dutchman
Kentucky Club
Many of these brands have various mixtures and blends, all of which Kiowa stoc ks. In addition to
these, we stoc k the very popular American brand cigarettes such as Kool, Marlboro, Camel, etc.
Page 7
Specialty Smokers: These are your hard core smokers who ac tively patronize smoke
shops and are looking to find the most hard to find brands that give a unique smoking
experience.
Recreational Smokers: These are habitual smokers of everyday brands, but who
oc casionally are looking for something else.
Average Smokers: These clients are dedicated to everyday brands but shop at smoke
stores rather than markets or convenience stores.
Occasional Smokers: These are people who only oc casionally smoke a cigar or
cigarette, but will sometimes be drawn to shop at a smoke shop due to special
oc casions (bac helor parties, birthdays, etc.)
While we ac knowledge that there will be some female customers, we anticipate that 90% of all
our patrons will be men. When we launch our Internet site with online ordering in 2004, we will
be able to sell to all the potential clients in the U.S. Therefore we see the number of potential
patron sharply increase in that year. Once we bec ome established as an online retailer of
specialty and nationwide brand smokes we expec t to have an estimated potential customer base
of ~150 million patrons.
Growth
-2%
-2%
-1%
-3%
318.18%
2003
2004
2005
2006
2007
20,000
50,000
180,000
200,000
450,000
12,800,000
20,154,000
36,864,000
77,612,000
147,430,000
12,544,000
19,750,920
36,495,360
75,283,640
144,073,920
12,293,120
19,355,902
36,130,406
73,025,131
140,804,559
12,047,258
18,968,784
35,769,102
70,834,377
137,619,521
CAGR
395.41%
341.33%
275.46%
333.81%
318.18%
Page 8
Page 11
FY 2005
FY 2006
Sales
Cigars
Cigarettes
Pipes and pipe tobacco
Roll-your-own products
Accessories
Total Sales
$189,996
$229,992
$130,080
$64,992
$34,992
$650,052
$201,188
$243,217
$137,800
$68,900
$38,450
$689,555
$210,532
$254,513
$144,200
$72,100
$40,050
$721,395
FY 2004
$131,952
$159,729
$90,341
$45,137
$24,302
$451,461
FY 2005
$134,836
$163,004
$92,354
$46,177
$25,769
$462,140
FY 2006
$141,099
$170,575
$96,643
$48,321
$26,842
$483,479
Page 12
Page 13
Table: Personnel
Personnel Plan
Mr. and Mrs Renaldo
Store manager
Store manager
Part-time store employee
Part-time store employee
Total People
Total Payroll
FY 2004
$60,000
$28,000
$28,000
$7,200
$7,200
5
FY 2005
$60,000
$28,000
$28,000
$14,400
$7,200
5
FY 2006
$60,000
$28,000
$28,000
$14,400
$7,200
5
$130,400
$137,600
$137,600
FY 2004
1
10.00%
FY 2005
2
10.00%
FY 2006
3
10.00%
10.00%
30.00%
0
10.00%
30.00%
0
10.00%
30.00%
0
$48,140
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
69%
$14,707
Page 16
Page 17
FY 2005
FY 2006
$650,052
$650,052
$689,555
$689,555
$721,395
$721,395
$0
$0
$0
$0
$0
$0
$0
$0
$0
$650,052
$0
$0
$0
$0
$0
$0
$689,555
$0
$0
$0
$0
$0
$0
$721,395
FY 2004
FY 2005
FY 2006
$130,400
$476,163
$606,563
$137,600
$533,475
$671,075
$137,600
$563,368
$700,968
$0
$0
$0
$1,000
$0
$1,000
$0
$1,200
$30,000
$0
$1,000
$2,000
$0
$1,000
$5,000
$15,000
$0
$652,763
$7,000
$0
$682,075
$9,000
$0
$716,968
($2,711)
$40,971
$7,480
$48,451
$4,427
$52,879
Cash Received
Cash from Operations
Cash Sales
Subtotal Cash from Operations
Additional Cash Received
Sales Tax, VAT, HST/GST Received
New Current Borrowing
New Other Liabilities (interest-free)
New Long-term Liabilities
Sales of Other Current Assets
Sales of Long-term Assets
New Investment Received
Subtotal Cash Received
Expenditures
Expenditures from Operations
Cash Spending
Bill Payments
Subtotal Spent on Operations
Page 18
Page 19
Page 20
FY 2004
$650,052
$451,461
$0
$451,461
FY 2005
$689,555
$462,140
$2,000
$464,140
FY 2006
$721,395
$483,479
$2,000
$485,479
Gross Margin
Gross Margin %
$198,591
30.55%
$225,415
32.69%
$235,916
32.70%
Expenses
Payroll
Sales and Marketing and Other Expenses
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
$130,400
$6,000
$0
$9,600
$1,320
$3,600
$19,560
$137,600
$12,000
$2,000
$9,900
$1,320
$3,800
$20,640
$137,600
$14,000
$4,000
$10,400
$1,600
$4,200
$20,640
$6,000
$11,000
$14,000
$176,480
$198,260
$206,440
$22,111
$22,111
$27,155
$29,155
$29,476
$33,476
$5,493
$4,985
$5,338
$6,545
$5,138
$7,301
$11,633
1.79%
$15,272
2.21%
$17,037
2.36%
Other
Total Operating Expenses
Profit Before Interest and Taxes
EBITDA
Interest Expense
Taxes Incurred
Net Profit
Net Profit/Sales
Page 21
FY 2005
FY 2006
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
$40,971
$41,384
$41,558
$123,913
$48,451
$43,365
$43,558
$135,374
$52,879
$46,365
$48,558
$147,802
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
$71,820
$12,000
$59,820
$183,733
$78,820
$14,000
$64,820
$200,194
$87,820
$18,000
$69,820
$217,622
FY 2004
FY 2005
FY 2006
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
$40,921
$24,820
$5,600
$44,109
$23,820
$5,600
$46,501
$22,820
$5,600
$71,341
$73,529
$74,921
$29,561
$100,902
$28,561
$102,090
$27,561
$102,482
Assets
Long-term Liabilities
Total Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
$0
$0
$0
$71,199
$11,633
$82,832
$82,832
$15,272
$98,104
$98,104
$17,037
$115,140
$183,733
$200,194
$217,622
$82,832
$98,104
$115,140
Page 22
Page 23
FY 2004
-2.50%
FY 2005
6.08%
FY 2006
4.62%
Industry Profile
6.22%
22.52%
22.62%
67.44%
32.56%
100.00%
21.66%
21.76%
67.62%
32.38%
100.00%
21.31%
22.31%
67.92%
32.08%
100.00%
30.17%
25.04%
84.57%
15.43%
100.00%
38.83%
16.09%
54.92%
45.08%
36.73%
14.27%
51.00%
49.00%
34.43%
12.66%
47.09%
52.91%
38.68%
12.41%
51.09%
48.91%
100.00%
30.55%
100.00%
32.69%
100.00%
32.70%
100.00%
21.60%
28.76%
0.00%
3.40%
30.48%
0.00%
3.94%
30.34%
0.00%
4.09%
9.18%
0.96%
1.57%
1.74
1.84
1.97
1.91
1.16
54.92%
20.06%
9.04%
1.25
51.00%
22.24%
10.90%
1.35
47.09%
21.14%
11.18%
1.04
53.60%
4.72%
10.18%
Additional Ratios
FY 2004
FY 2005
FY 2006
1.79%
14.04%
2.21%
15.57%
2.36%
14.80%
n.a
n.a
10.91
11.56
30
3.54
10.91
12.17
29
3.44
10.78
12.17
29
3.31
n.a
n.a
n.a
n.a
1.22
0.71
1.04
0.72
0.89
0.73
n.a
n.a
$52,573
4.03
$61,845
5.09
$72,881
5.74
n.a
n.a
0.28
39%
1.16
7.85
0.00
0.29
37%
1.25
7.03
0.00
0.30
34%
1.35
6.27
0.00
n.a
n.a
n.a
n.a
n.a
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
Activity Ratios
Inventory Turnover
Accounts Payable Turnover
Payment Days
Total Asset Turnover
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Sales/Net Worth
Dividend Payout
Page 24
Appendix
Table: Sales Forecast
Sales Forecast
Sales
Cigars
Cigarettes
Pipes and pipe tobacco
Roll-your-own products
Accessories
Total Sales
Direct Cost of Sales
Cigars
Cigarettes
Pipes and pipe tobacco
Roll-your-own products
Accessories
Subtotal Direct Cost of Sales
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
0%
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
$15,833
0%
0%
0%
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
$19,166
$10,840
$5,416
0%
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
$2,916
$54,171
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$10,996
$13,311
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$7,528
$3,761
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
$2,025
$37,622
Page 1
Appendix
Table: Personnel
Personnel Plan
Mr. and Mrs Renaldo
Store manager
0%
0%
Apr
$5,000
$2,333
May
$5,000
$2,333
Jun
$5,000
$2,333
Jul
$5,000
$2,333
Aug
$5,000
$2,333
Sep
$5,000
$2,333
Oct
$5,000
$2,333
Nov
$5,000
$2,333
Dec
$5,000
$2,333
Jan
$5,000
$2,333
Feb
$5,000
$2,333
Mar
$5,000
$2,333
Store manager
0%
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
$2,333
0%
0%
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
Total People
Total Payroll
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
Page 2
Appendix
Table: General Assumptions
General Assumptions
Plan Month
Current Interest Rate
Apr
1
10.00%
May
2
10.00%
Jun
3
10.00%
Jul
4
10.00%
Aug
5
10.00%
Sep
6
10.00%
Oct
7
10.00%
Nov
8
10.00%
Dec
9
10.00%
Jan
10
10.00%
Feb
11
10.00%
Mar
12
10.00%
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
Other
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
Page 3
Appendix
Table: Profit and Loss
Pro Forma Profit and Loss
Sales
Direct Cost of Sales
Apr
$54,171
$37,622
May
$54,171
$37,622
Jun
$54,171
$37,622
Jul
$54,171
$37,622
Aug
$54,171
$37,622
Sep
$54,171
$37,622
Oct
$54,171
$37,622
Nov
$54,171
$37,622
Dec
$54,171
$37,622
Jan
$54,171
$37,622
Feb
$54,171
$37,622
Mar
$54,171
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
$0
$37,622
Gross Margin
Gross Margin %
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
$16,549
30.55%
Expenses
Payroll
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Rent
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$800
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$110
$300
$1,630
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$14,707
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
$1,843
Interest Expense
$462
$462
$461
$460
$459
$458
$457
$457
$456
$455
$454
$453
Taxes Incurred
$414
$414
$415
$415
$415
$415
$416
$416
$416
$416
$417
$417
Utilities
Insurance
Payroll Taxes
Other
Total Operating Expenses
Profit Before Interest and Taxes
EBITDA
Net Profit
Net Profit/Sales
15%
$966
$967
$967
$968
$969
$969
$970
$970
$971
$971
$972
$973
1.78%
1.78%
1.79%
1.79%
1.79%
1.79%
1.79%
1.79%
1.79%
1.79%
1.79%
1.80%
Page 4
Appendix
Table: Cash Flow
Pro Forma Cash Flow
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
Cash Received
Cash from Operations
Cash Sales
Subtotal Cash from Operations
Additional Cash Received
Sales Tax, VAT, HST/GST Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
$54,171
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
$10,867
Bill Payments
Subtotal Spent on Operations
$44,287
$55,154
$8,526
$19,393
$42,338
$53,204
$42,337
$53,204
$42,336
$53,203
$42,336
$53,202
$42,335
$53,202
$42,335
$53,201
$42,334
$53,201
$42,333
$53,200
$42,333
$53,200
$42,332
$53,199
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$15,000
$100
$15,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$15,000
$0
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$55,254
$19,493
$53,304
$53,304
$53,303
$53,302
$53,302
$53,301
$53,301
$53,300
$83,300
$68,299
($1,083)
$34,678
$867
$867
$868
$869
$869
$870
$870
$871
($29,129)
($14,128)
Cash Balance
$42,599
$77,277
$78,144
$79,011
$79,879
$80,748
$81,617
$82,487
$83,357
$84,228
$55,099
$40,971
0.00%
Page 5
Appendix
Table: Balance Sheet
Pro Forma Balance Sheet
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
$43,682
$76,362
$42,599
$41,384
$77,277
$41,384
$78,144
$41,384
$79,011
$41,384
$79,879
$41,384
$80,748
$41,384
$81,617
$41,384
$82,487
$41,384
$83,357
$41,384
$84,228
$41,384
$55,099
$41,384
$40,971
$41,384
$11,558
$131,602
$11,558
$95,541
$11,558
$130,219
$11,558
$131,086
$11,558
$131,953
$11,558
$132,821
$11,558
$133,690
$11,558
$134,559
$11,558
$135,429
$11,558
$136,299
$11,558
$137,170
$26,558
$123,041
$41,558
$123,913
Long-term Assets
Long-term Assets
$56,820
$56,820
$56,820
$56,820
$56,820
$56,820
$56,820
$56,820
$56,820
$56,820
$56,820
$71,820
$71,820
Accumulated Depreciation
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$12,000
$44,820
$176,422
$44,820
$140,361
$44,820
$175,039
$44,820
$175,906
$44,820
$176,773
$44,820
$177,641
$44,820
$178,510
$44,820
$179,379
$44,820
$180,249
$44,820
$181,119
$44,820
$181,990
$59,820
$182,861
$59,820
$183,733
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Assets
Starting Balances
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
$44,042
$7,115
$40,926
$40,926
$40,925
$40,925
$40,924
$40,924
$40,923
$40,922
$40,922
$40,921
$40,921
Current Borrowing
Other Current Liabilities
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$24,820
$5,600
$74,462
$37,535
$71,346
$71,346
$71,345
$71,345
$71,344
$71,344
$71,343
$71,342
$71,342
$71,341
$71,341
$30,761
$30,661
$30,561
$30,461
$30,361
$30,261
$30,161
$30,061
$29,961
$29,861
$29,761
$29,661
$29,561
$105,223
$68,196
$101,907
$101,807
$101,706
$101,606
$101,505
$101,404
$101,304
$101,203
$101,103
$101,002
$100,902
Long-term Liabilities
Total Liabilities
Paid-in Capital
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Retained Earnings
($8,801)
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
$71,199
Earnings
Total Capital
$80,000
$71,199
$966
$72,165
$1,933
$73,132
$2,900
$74,099
$3,868
$75,067
$4,837
$76,036
$5,806
$77,005
$6,775
$77,975
$7,746
$78,945
$8,717
$79,916
$9,688
$80,887
$10,660
$81,859
$11,633
$82,832
$176,422
$140,361
$175,039
$175,906
$176,773
$177,641
$178,510
$179,379
$180,249
$181,119
$181,990
$182,861
$183,733
$71,199
$72,165
$73,132
$74,099
$75,067
$76,036
$77,005
$77,975
$78,945
$79,916
$80,887
$81,859
$82,832
Page 6