Executive Summary The city of Claremont has been growing by 6% annually for the past five years.

Currently, the city's population is 700,000. Most importantly, the greatest population increase is in southwest Claremont which is the city's most affluent area. The population of southwest Claremont has grown by 20% the past two years. The 80,000 residents of the area have an average income of $200,000 and the average home is valued at $350,000. The new construction in southwest section of the city is valued at 600 million dollars in home sales next year alone. Growth in the area has also generated increase remodeling of existing homes. Last year, remodeling projects were up 20% over the previous year and accounted for $20 million paid for remodeling services in the area. The building and remodeling in southwest Claremont has increased the demand for interior design services. Last year, residential interior design companies generated $4 million in sales in the greater Claremont area. Forecasts for next year predict that there will be an increase of 11% in sales. Hamlin and Park Design will offers a wide range of interior design services to meet any client's needs in southwest Claremont:

On-site consultations; Project survey & analysis; Space planning & furniture arrangement; Design concepts; Finishes & furnishings; Custom designs; Purchasing, delivery, & installation; Project coordination & management.

Courtney Hamlin and Katherine Park have ten years of experience with the city's top interior designs firms. Both have been successful is creating a base of former clients that will refer new business to the designers.

Need actual charts? We recommend using LivePlan as the easiest way to create graphs for your own business plan. Create your own business plan 1.1 Objectives Hamlin and Park Design offers a wide range of interior design services to meet any client's needs in southwest Claremont. The primary objectives of our firm are to:

Exceed customers' expectations for service and product. Increase the number of clients served by 15% per year through superior performance. Develop a sustainable start-up business that is profitable.

1.2 Mission Hamlin and Park Design's mission is to assure superior customer service by doing the following:

Open communication with clients. The explanation of the "pros and cons" of different selections and design options are discussed in detail. Include the client in every stage of the design process. Exceed the customer's expectations for the project. Maintain continuing education of the latest development and innovations in the interior design field.

Company Summary Courtney Hamlin and Katherine Park will start Hamlin and Parks Design to offer a wide range of interior design services to clients in southwest Claremont. The company has a high level of expertise in interior design and will provide superior personal services to all clients. Courtney and Katherine take pride in knowing that 50% of their business comes from repeat clients and their referrals. Our responsibility as interior design professionals is to take the client's design goals and utilize our skills and resources to exceed the client's expectations for service, value, functionality, and beauty. 2.1 Company Ownership The owners and designers of Hamlin and Park Design are Courtney Hamlin and Katherine Park. 2.2 Start-up Summary Courtney Hamlin and Katherine Park will invest $60,000 in Hamlin and Park Design. They will also secure a $50,000 loan. The following table and chart show projected initial start-up costs for Hamlin and Park Design.

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Start-up Funding Start-up Expenses to Fund Start-up Assets to Fund $20,550 $79,450

Total Funding Required Assets Non-cash Assets from Start-up Cash Requirements from Start-up Additional Cash Raised Cash Balance on Starting Date Total Assets Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (interest-free) Total Liabilities Capital Planned Investment Investor 1 Investor 2 Additional Investment Requirement Total Planned Investment Loss at Start-up (Start-up Expenses) Total Capital Total Capital and Liabilities Total Funding Need real financials?

$100,000

$20,000 $59,450 $0 $59,450 $79,450

$0 $30,000 $10,000 $0 $40,000

$30,000 $30,000 $0 $60,000 ($20,550) $39,450 $79,450 $100,000

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Start-up Requirements Start-up Expenses Legal Stationery etc. Brochures Insurance Rent Answering Service Utilities Start Up Office Furnishings Expensed Equipment Business Software Office Supplies Total Start-up Expenses Start-up Assets Cash Required Other Current Assets Long-term Assets Total Assets Total Requirements $59,450 $20,000 $0 $79,450 $100,000 $900 $2,000 $4,000 $200 $3,000 $200 $250 $4,000 $3,000 $2,000 $1,000 $20,550

Services Hamlin and Park Design will offers a wide range of interior design services to meet any client's needs in southwest Claremont:

On-site Consultations: Convenient consultations for busy homeowners and professionals are offered at the home or office. The consultation will include all necessary product samples for clients for review, thus eliminating the hassle of having to visit numerous stores for different products. Project Survey and Analysis: Each site is inspected for its layout and function. In-depth client interviews are conducted to determine all necessary requirements for the project. This information is then analyzed for design concepts and space planning. Design Concepts: The design concept can begin with a treasured piece of fabric or furniture, or simply a blank page. The goal is to attain the "look" and "feel" a client wants, from "light and airy" to "rich and elegant" to "comfortable and cozy." Each project develops its own flavor from the unique selection of fabrics, furniture, and finishes. Finishes and Furnishings: There are many factors to consider when selecting furniture and finishes. Hamlin and Park Design's expertise and guidance helps clients make the best selections for their needs. Creativity is also applied in the selection process to create the desired look. Custom Designs: Custom furniture, built-ins, and window treatments are also available through the talents of Hamlin and Park Design. Detailed drawings are prepared to help clients visualize the finished piece. Purchasing, Delivery, & Installation: Once final selections are made, Hamlin and Park Design assumes all responsibility for coordinating the purchasing, delivery and installation of the entire project. Project Coordination & Management: Some projects require a certain sequence of installation for maximizing results. Hamlin and Park Design coordinates all aspects of these projects to ensure smooth transitions from each phase until project completion.

Market Analysis Summary Due to the strengthening of the area's economy, more southwest Claremont homeowners are exploring interior design to improve their homes' beauty and charm. Last year, residential interior design companies generated $4 million in sales in the greater Claremont area. Approximately, 75% of the sales were located in southwest Claremont. Forecasts for next year predict that there will be an increase of 11% in sales. This demand for interior design services is a tremendous opportunity. Hamlin and Park Design is poised to take advantage of these changes, and expects to become a recognized name and profitable entity in the city's interior design market. 4.1 Market Segmentation The customers that Hamlin and Park Design will be serving can be divided into three groups:

New Home Construction: Hamlin and Park Design will compete for the interior design projects associated with new homes. Contracted consulting responsibilities with the builders can include one or more of the companies services, i.e. strategic planning, master planning, and lighting, floor or carpet design.

Remodeling Projects: These projects have some of the same characteristics as new home construction (i.e. working as a consultant with builders) but can also include greater control over all aspect of the project. Interior Design of Existing Home: Hamlin and Park Design will control all aspects of these projects.

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Market Analysis Year 1 Year 2 Year 3 Year 4 Year 5 Potential Customers New Home Construction Remodeling Projects Interior Design of Existing Home Total

Growth

CAGR

6%

1,500

1,590

1,685

1,786

1,893

5.99%

10%

3,000

3,300

3,630

3,993

4,392

10.00%

8% 8.50%

2,000 6,500

2,160 7,050

2,333 7,648

2,520 8,299

2,722 9,007

8.01% 8.50%

4.2 Competitive Edge

Hamlin and Park Design's competitive edge is that both Courtney Hamlin and Katherine Park are highly successful interior designers with a loyal customer base. Courtney has been a Project Manager with Sullivan and Associates for five years. During that time she has established strong relationships with builders and vendors which will prove beneficial in the coming years. For the past six years, Katherine has worked as a Design Consultant for Jonathan Miller, the most successful interior designer in Claremont. Together, Courtney and Katherine have the skills, resources and experience to be build on the base of 1,000 satisfied customers.

Strategy and Implementation Summary Hamlin and Park will focus on the interior design needs in the southwest section of the city. Our target customers will be the affluent residents of southwest Claremont. 5.1 Sales Strategy The following is the sales strategy Hamlin and Park Design will employ on the three target customer groups:

New Home Construction/Remodeling Projects: Courtney Hamlin already has a strong professional relationship with the dominant builders/remodelers in southwest Claremont. She will meet with them directly and pitch the consulting services of Hamlin and Park Design. Interior Design of Existing Home: Visibility with the customer base is the most important marketing activity Hamlin and Park Design will follow. Southwest Claremont has five homeowner associations that meet regularly. In the past both Courtney and Katherine have made presentations on interior design issues. They will continue this service to the community to raise the visibility of Hamlin and Park Design.

5.1.1 Sales Forecast The following table and chart will forecast sales for the next three years.

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Create your own business plan

Sales Forecast Year 1 Sales Remodeling Projects New Home Construction Interior Design of Existing Home Total Sales Direct Cost of Sales Remodeling Projects New Home Construction Interior Design of Existing Home Subtotal Direct Cost of Sales $87,672 $41,000 $90,739 $219,411 Year 1 $8,634 $5,500 $9,091 $23,225 $96,685 $45,280 $97,800 $239,765 Year 2 $9,500 $6,300 $10,000 $25,800 $108,200 $47,300 $105,000 $260,500 Year 3 $10,000 $7,000 $10,000 $27,000 Year 2 Year 3

Management Summary Hamlin and Park is a two member interior design firm. Both designers are equal partners in the firm.

Courtney Hamlin began her passion for the arts at a young age. Upon graduating from State University, Courtney secured an office management position at a local commercial and residential interior design firm. This position afforded her the learning experience of overseeing all aspects of design projects; from preparing proposals, to scheduling and coordinating all phases of a project. After five years of managing the design firm, Courtney returned to school for an Associates Degree in Interior Design. After completing her Interior Design degree, Courtney became a designer and project manager for Sullivan and Associates. Katherine Park received a B.A. in Art from State University. She continued her education at the Art Institute of Monroe and obtained a degree in Interior Design. She has worked as a Design Consultant for Jonathan Miller, the most successful interior designer in Claremont.

6.1 Personnel Plan The staff of Hamlin and Park Design will be its co-owners Courtney Hamlin and Katherine Park.

Personnel Plan Year 1 Courtney Hamlin Katherine Park Total People Total Payroll $48,000 $48,000 2 $96,000 Year 2 $54,000 $54,000 2 $108,000 Year 3 $60,000 $60,000 2 $120,000

Financial Plan The following is the financial plan for Hamlin and Park Design. 7.1 Important Assumptions The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendix. From the beginning, we recognize that collection days are critical, but not a factor we can influence easily. At least we are planning on the problem, and dealing with it. Interest rates, tax rates, and personnel burden are based on conservative assumptions. Some of the more important underlying assumptions are:

We assume a strong economy, without major recession. We assume, of course, that there are no unforeseen changes in the economy that would change our estimations.

General Assumptions Year 1 Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Other Need real financials? We recommend using LivePlan as the easiest way to create automatic financials for your own business plan. Create your own business plan 7.2 Break-even Analysis The following table and chart will summarize our break-even analysis. The monthly break-even point is approximately $14,800. 1 10.00% 10.00% 30.00% 0 Year 2 2 10.00% 10.00% 30.00% 0 Year 3 3 10.00% 10.00% 30.00% 0

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Break-even Analysis Monthly Revenue Break-even Assumptions: Average Percent Variable Cost Estimated Monthly Fixed Cost 7.3 Projected Profit and Loss Our projected profit and loss is shown on the following table and charts. 11% $13,300 $14,874

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Pro Forma Profit and Loss Year 1 Sales Direct Cost of Sales Other Production Expenses Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Sales and Marketing and Other Expenses Depreciation Leased Equipment $96,000 $108,000 $120,000 $219,411 $23,225 $0 $23,225 $196,186 89.41% Year 2 $239,765 $25,800 $0 $25,800 $213,965 89.24% Year 3 $260,500 $27,000 $0 $27,000 $233,500 89.64%

$6,000 $0 $2,400

$7,000 $0 $2,400

$10,000 $0 $2,400

Utilities Insurance Rent Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales 7.4 Projected Cash Flow

$2,400 $2,400 $36,000 $14,400 $0 $159,600 $36,586 $36,586 $2,643 $10,183 $23,760 10.83%

$2,400 $2,400 $36,000 $16,200 $0 $174,400 $39,565 $39,565 $2,010 $11,267 $26,289 10.96%

$2,400 $2,400 $36,000 $18,000 $0 $191,200 $42,300 $42,300 $1,350 $12,285 $28,665 11.00%

Cash flow projections are critical to our success. The monthly cash flow is shown in the illustration, with one bar representing the cash flow per month, and the other the monthly balance. The annual cash flow figures are included here and the more important detailed monthly numbers are included in the appendix.

Pro Forma Cash Flow Year 1 Cash Received Cash from Operations Cash Sales Cash from Receivables 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 Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out Principal Repayment of Current Borrowing $0 $0 $0 $96,000 $105,544 $201,544 $108,000 $100,914 $208,914 $120,000 $111,312 $231,312 $0 $0 $0 $0 $0 $0 $0 $211,313 Year 1 $0 $0 $0 $0 $0 $0 $0 $239,014 Year 2 $0 $0 $0 $0 $0 $0 $0 $259,735 Year 3 $109,706 $101,608 $211,313 $119,883 $119,131 $239,014 $130,250 $129,485 $259,735 Year 2 Year 3

$0

$0

$0

Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance 7.5 Projected Balance Sheet

$0

$0

$0

$6,600 $0 $0 $0 $208,144 $3,170 $62,620

$6,600 $0 $0 $0 $215,514 $23,500 $86,119

$6,600 $0 $0 $0 $237,912 $21,822 $107,942

The balance sheet in the following table shows managed but sufficient growth of net worth, and a sufficiently healthy financial position. The monthly estimates are included in the appendix.

Pro Forma Balance Sheet Year 1 Assets Current Assets Cash Accounts Receivable Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets $0 $0 $0 $90,717 $0 $0 $0 $114,968 $0 $0 $0 $137,556 $62,620 $8,098 $20,000 $90,717 $86,119 $8,849 $20,000 $114,968 $107,942 $9,614 $20,000 $137,556 Year 2 Year 3

Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth Need real financials?

Year 1

Year 2

Year 3

$4,107 $0 $0 $4,107 $23,400 $27,507 $60,000 ($20,550) $23,760 $63,210 $90,717 $63,210

$8,669 $0 $0 $8,669 $16,800 $25,469 $60,000 $3,210 $26,289 $89,499 $114,968 $89,499

$9,192 $0 $0 $9,192 $10,200 $19,392 $60,000 $29,499 $28,665 $118,164 $137,556 $118,164

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Ratio Analysis Industry Profile 8.50%

Year 1 Sales Growth Percent of Total Assets 0.00%

Year 2 9.28%

Year 3 8.65%

Accounts Receivable Other Current Assets Total Current Assets Long-term Assets Total Assets 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 Additional Ratios Net Profit Margin Return on Equity

8.93% 22.05% 100.00% 0.00% 100.00% 4.53% 25.79% 30.32% 69.68%

7.70% 17.40% 100.00% 0.00% 100.00% 7.54% 14.61% 22.15% 77.85%

6.99% 14.54% 100.00% 0.00% 100.00% 6.68% 7.42% 14.10% 85.90%

20.90% 55.70% 81.60% 18.40% 100.00% 48.20% 15.50% 63.70% 36.30%

100.00% 89.41%

100.00% 89.24%

100.00% 89.64%

100.00% 0.00%

78.59% 2.73% 16.67%

78.28% 2.92% 16.50%

78.63% 3.84% 16.24%

82.60% 0.60% 1.50%

22.09 22.09 30.32% 53.70% 37.42% Year 1 10.83% 37.59%

13.26 13.26 22.15% 41.96% 32.67% Year 2 10.96% 29.37%

14.96 14.96 14.10% 34.66% 29.77% Year 3 11.00% 24.26%

1.57 1.13 63.70% 1.90% 5.20%

n.a n.a

Activity Ratios Accounts Receivable Turnover Collection Days 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 0.41 5% 20.12 3.47 0.00 0.48 8% 12.24 2.68 0.00 0.53 7% 13.92 2.20 0.00 n.a n.a n.a n.a n.a $86,610 13.85 $106,299 $128,364 n.a 19.68 31.33 n.a 0.44 0.15 0.28 0.34 0.16 0.47 n.a n.a 13.55 59 24.26 30 2.42 13.55 26 12.17 22 2.09 13.55 26 12.17 29 1.89 n.a n.a n.a n.a n.a

Appendix
Sales Forecast Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Sales

Remodeling Projects 0% $2,100 $2,200 $3,020 $6,000 $8,500 $12,000 $14,000 $18,000 $10,022 $5,210 $3,820 $2,800 New Home Construction 0% $0 Interior Design of Existing Home Total Sales Direct Cost of Sales Remodeling Projects New Home Construction Interior Design of Existing Home Subtotal Direct Cost of Sales

$0

$2,000 $3,000 $4,000 $5,000 $7,000 $8,000 $5,000 $3,000 $2,000 $2,000

0% $3,000 $3,000 $4,240 $6,300 $9,000 $11,000 $14,000 $17,000 $13,000 $4,322 $3,222 $2,655 $5,100 $5,200 $9,260 $15,300 $21,500 $28,000 $35,000 $43,000 $28,022 $12,532 $9,042 $7,455 Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12

$0

$230

$433

$630

$950

$1,201 $1,550 $1,700 $850

$530

$300

$260

$0

$0

$300

$400

$500

$600

$700

$900

$800

$600

$400

$300

$0

$320

$590

$800

$1,002 $1,202 $1,409 $1,650 $1,200 $390

$280

$248

$0

$550

$1,323 $1,830 $2,452 $3,003 $3,659 $4,250 $2,850 $1,520 $980

$808

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Personnel Plan Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Courtney Hamlin 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 Katherine Park 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000

Total People Total Payroll

$8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000

General Assumptions Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Plan Month 1

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% Longterm 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 Other

30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 0 0 0 0 0 0 0 0 0 0 0 0

Pro Forma Profit and Loss Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 $15,30 $21,50 $28,00 $35,00 $43,00 $28,02 $12,53 $5,100 $5,200 $9,260 0 0 0 0 0 2 2 $9,042 $7,455

Sales Direct Cost of Sales Other Production Expenses Total Cost

$0

$550

$1,323 $1,830 $2,452 $3,003 $3,659 $4,250 $2,850 $1,520 $980

$808

$0 $0

$0 $550

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0 $808

$1,323 $1,830 $2,452 $3,003 $3,659 $4,250 $2,850 $1,520 $980

of Sales Gross Margin Gross Margin % Expenses Payroll Sales and Marketing and Other Expenses Depreciatio n Leased Equipment Utilities Insurance Rent Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $13,47 $19,04 $24,99 $31,34 $38,75 $25,17 $11,01 $5,100 $4,650 $7,937 0 8 7 1 0 2 2 $8,062 $6,647 100.00 % 89.42% 85.71% 88.04% 88.60% 89.28% 89.55% 90.12% 89.83% 87.87% 89.16% 89.16%

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$200 $200 $200

$3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 15 % $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

$13,30 $13,30 $13,30 $13,30 $13,30 $13,30 $13,30 $13,30 $13,30 $13,30 $13,300 $13,300 0 0 0 0 0 0 0 0 0 0

($8,200 ($8,650 ($5,363 ) ) ) $170 ($8,200 ($8,650 ($5,363 ) ) ) $170

$11,69 $18,04 $25,45 $11,87 ($2,288 ($5,238 ($6,653 $5,748 7 1 0 2 ) ) ) $11,69 $18,04 $25,45 $11,87 ($2,288 ($5,238 ($6,653 $5,748 7 1 0 2 ) ) )

EBITDA Interest Expense

$245

$241

$236

$232

$227

$223

$218

$213

$209

$204

$200

$195

Taxes Incurred

($2,534 ($2,667 ($1,680 ) ) ) ($18) ($5,912 ($6,224 ($3,919 ) ) ) ($43)

($1,631 ($2,054 $1,656 $3,442 $5,347 $7,571 $3,499 ($748) ) ) $12,47 $17,66 ($1,745 ($3,806 ($4,794 $3,865 $8,032 6 6 $8,164 ) ) )

Net Profit

Net Profit/Sales

115.92 119.68 % % 42.33% -0.28% 17.98% 28.69% 35.65% 41.08% 29.14% 13.92% 42.10% 64.30%

Pro Forma Cash Flow Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12 Cash Received Cash from Operations $10,75 $14,00 $17,50 $21,50 $14,01 $2,600 $4,630 $7,650 0 0 0 0 1 $6,266 $4,521 $3,728 $10,85 $14,11 $17,63 $21,25 $13,75 $2,552 $2,668 $4,731 $7,753 8 7 3 0 3 $6,208

Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities

$2,550

$0

$85

$2,550

$10,31 $15,48 $21,75 $28,35 $35,61 $31,64 $27,51 $18,27 $2,685 $7,182 8 1 3 8 7 4 6 4 $9,935

0.00 % $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

(interestfree) New Longterm Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditure s Expenditure s from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST

$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

$2,550

$10,31 $15,48 $21,75 $28,35 $35,61 $31,64 $27,51 $18,27 $2,685 $7,182 8 1 3 8 7 4 6 4 $9,935

Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12

$8,000

$8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000

$12,05 $14,61 $17,15 $11,67 $10,100 $3,026 $3,482 $5,252 $7,420 $9,713 3 8 2 2 $6,229 $4,828

$11,02 $11,48 $13,25 $15,42 $17,71 $20,05 $22,61 $25,15 $19,67 $14,22 $12,82 $18,100 6 2 2 0 3 3 8 2 2 9 8

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

Paid Out Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$550

$550

$550

$550

$550

$550

$550

$550

$550

$550

$550

$550

$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

$11,57 $12,03 $13,80 $15,97 $18,26 $20,60 $23,16 $25,70 $20,22 $14,77 $13,37 $18,650 6 2 2 0 3 3 8 2 2 9 8 ($16,100 ($8,891 ($4,850 ($3,484 $12,44 ($3,443 ) ) ) ) ($489) $3,490 $7,755 9 $5,943 $7,295 $3,495 ) $34,45 $29,60 $26,12 $25,63 $29,12 $36,88 $49,33 $55,27 $62,56 $66,06 $62,62 $43,350 9 9 5 6 6 1 0 3 8 3 0

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Pro Forma Balance Sheet Month Month Month Month Month Month Month Month Month Month Month Month

1 Startin g Balanc es

10

11

12

Assets Current Assets

Cash

$59,45 $43,35 $34,45 $29,60 $26,12 $25,63 $29,12 $36,88 $49,33 $55,27 $62,56 $66,06 $62,62 0 0 9 9 5 6 6 1 0 3 8 3 0

Accounts Receivabl e $0 Other Current Assets Total Current Assets Long-term Assets Long-term Assets $0 Accumulat ed Depreciati on $0 Total Long-term Assets $0 Total Assets Liabilities and Capital Current

$12,12 $18,14 $24,39 $31,03 $38,41 $34,79 $19,81 $10,57 $2,550 $5,065 $7,143 6 5 2 3 7 4 0 8 $8,098

$20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 $20,00 0 0 0 0 0 0 0 0 0 0 0 0 0

$79,45 $65,90 $59,52 $56,75 $58,25 $63,78 $73,51 $87,91 $107,7 $110,0 $102,3 $96,64 $90,71 0 0 4 2 0 1 8 5 47 67 78 1 7

$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

$79,45 $65,90 $59,52 $56,75 $58,25 $63,78 $73,51 $87,91 $107,7 $110,0 $102,3 $96,64 $90,71 0 0 4 2 0 1 8 5 47 67 78 1 7

Month Month Month Month Month Month Month Month Month Month Month Month 1 2 3 4 5 6 7 8 9 10 11 12

Liabilities Accounts $10,00 $11,56 $14,04 $16,75 $11,46 Payable 0 $2,911 $3,309 $5,007 $7,098 $9,314 9 0 7 2 $6,067 $4,687 $4,107 Current Borrowing $0 Other Current Liabilities $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

Subtotal Current $10,00 $11,56 $14,04 $16,75 $11,46 Liabilities 0 $2,911 $3,309 $5,007 $7,098 $9,314 9 0 7 2 $6,067 $4,687 $4,107 Long-term $30,00 $29,45 $28,90 $28,35 $27,80 $27,25 $26,70 $26,15 $25,60 $25,05 $24,50 $23,95 $23,40 Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 Total $40,00 $32,36 $32,20 $33,35 $34,89 $36,56 $38,26 $40,19 $42,35 $36,51 $30,56 $28,63 $27,50 Liabilities 0 1 9 7 8 4 9 0 7 2 7 7 7 Paid-in Capital $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 $60,00 0 0 0 0 0 0 0 0 0 0 0 0 0

Retained ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 ($20,55 Earnings 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) ($5,912 ($12,13 ($16,05 ($16,09 ($12,23 ($4,201 $25,94 $34,10 $32,36 $28,55 $23,76 ) 5) 5) 8) 3) ) $8,275 1 5 0 4 0

Earnings Total Capital

$0

$39,45 $33,53 $27,31 $23,39 $23,35 $27,21 $35,24 $47,72 $65,39 $73,55 $71,81 $68,00 $63,21 0 8 5 5 2 7 9 5 1 5 0 4 0

Total Liabilities and $79,45 $65,90 $59,52 $56,75 $58,25 $63,78 $73,51 $87,91 $107,7 $110,0 $102,3 $96,64 $90,71 Capital 0 0 4 2 0 1 8 5 47 67 78 1 7 Net Worth $39,45 $33,53 $27,31 $23,39 $23,35 $27,21 $35,24 $47,72 $65,39 $73,55 $71,81 $68,00 $63,21 0 8 5 5 2 7 9 5 1 5 0 4 0