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Table of Contents
Table of Contents
Page 2
Appendix
1.0 Executive Summary
The demographics of home ownership has changed radically in the South Gate section of Gilmore. Today, over 40% of the area's homes
are owned by women. In addition, 60% of the area's rentals are owned by women. More often than not, it's a woman who will now head
to the hardware store for repair parts and advice. Today's hardware store, which more and more are dominated by the mega-store chains,
are cold, uninviting and usually involve more driving time. Clara's Hardware is uniquely positioned to take advantage of this new fact of
life. Conveniently located to serve the South Gate area, Clara's Hardware offers parts, material, and advice to tackle any home repair, as
well as lawn care. The focus is on helping the customer identify what they want as soon as they enter the store.
Through the use of a selection of hardware goods, superior personal customer attention, and reasonable prices, Clara's Hardware will
capitalize on this incredible opportunity. A location has been secured that offers very good foot traffic and easy accessibility. The store will
efficiently lay out the store to increase sales and give the customers the upmost in attention. The projected growth rate for Clara's
Hardware is quite steady. The store will reach profitability by month six and will have revenue of approximately $100,000 by year three.
Chart: Highlights
Highlights
$1,200,000
$1,000,000
Sales
$800,000
Gross Margin
$600,000
Net Profit
$400,000
$200,000
$0
Year 1
Year 2
Year 3
Page 1
Appendix
1.1 Mission
The mission of Clara's Hardware is to offer quality hardware products in a customer-friendly shopping environment. Our customers will get
assistance quickly and will leave the store prepared to get the job done right the first time. Clara's Hardware will also focus on anticipating
the seasonal needs of its customers and providing the best products at competitive prices. Most importantly, Clara's Hardware will make
the additional 15 minute drive to a mega-hardware store, too far to go and too expensive to entertain.
1.2 Keys to Success
Location: Clara's Hardware is located in South Gate Plaza. The foot traffic in the plaza is very strong. The plaza's primary tenants
are the area's successful supermarket, drug store, and appliance store. South Gate Plaza has easy access points on both of the area's
major cross streets and is the biggest shopping center in South Gate's residental area. The closest hardware store to the South Gate
area is a twenty minute drive.
Seasonal Products: Each season has it own unique demand on a homeowner. Clara's Hardware will focus on this pattern and bring
in local customers by marketing these items at competitive prices.
Repair/Project Resource Area: The first section customers will find when they enter is a repair/project resource area that they can
use to plan repairs or projects. There will be a repair/project resource person to answer questions and direct them to the section of
store where the needed products are.
In-Store Expertise: Store employees will be knowledgeable in home repairs/projects. In addition, the repair/project resource area
will be used to conduct short trainings and demonstrations in home repair and home projects.
Page 2
Appendix
2.1 Start-up Summary
The start-up cost of Clara's Hardware will consist primarily of inventory and display equipment. Clara Johnson will invest $80,000. She
will also secure a $150,000 SBA loan.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Stationery etc.
Brochures
Consultants
Insurance
Rent
Start-Up Inventory
Display Set-Up
Cash Reserve for Hiring
Advertising
Other
Total Start-up Expenses
$1,000
$0
$0
$0
$0
$3,000
$50,000
$5,000
$20,000
$0
$0
$79,000
Start-up Assets
Cash Required
Start-up Inventory
Other Current Assets
Long-term Assets
Total Assets
$121,000
$0
$0
$30,000
$151,000
Total Requirements
$230,000
Start-up Funding
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required
$79,000
$151,000
$230,000
Assets
Page 3
Appendix
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
$30,000
$121,000
$0
$121,000
$151,000
$0
$150,000
$0
$0
$150,000
Capital
Planned Investment
Clara Johnson
Silent Partner
Other
Additional Investment Requirement
Total Planned Investment
$80,000
$0
$0
$0
$80,000
($79,000)
$1,000
$151,000
Total Funding
$230,000
Page 4
Appendix
Chart: Start-up
Start-up
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Expenses
Assets
Investment
Loans
Page 5
Appendix
4.0 Market Analysis Summary
In the past ten years, most local hardware stores have closed due to the success of large hardware mega-stores drawing away local
customers. The attraction of the larger stores has always been price and and a large inventory. Customers would rather drive 20 minutes
and make sure they will find what they want rather than drive five minutes and hope the local store will have it at a low price. Yet these
same hardware mega-stores are sterile and not customer-friendly. Customers can wander the aisles, aimlessly lost, looking for a two
dollar item. And when they do find the right section, they will most likely select the most popular brand no matter how large the selection
is. What these store offer in price and selection, they lose in creating a confusing, frustrating maze for their customers.
Clara believes that a local hardware store can provide a reasonable selection in the most important product areas, be competitive in
pricing, and offer the customer a shopping environment that will assure repeat business.
4.1 Market Segmentation
Clara's Hardware will focus on three significant customer groups:
Women home owners: Many women home owners perform their own home repairs and home improvement projects. Clara knows
this first hand since she has helped many of these women in mastering the skills needed to do the work successfully. Clara's Hardware
will be uniquely designed to be responsive to the shopping environment that will attract and retain this important customer group.
Customers who need assistance in planning a project/repair: This customer group can have the most frustrating experience in
the hardware mega-stores. If they can't make the scheduled demos or trainings, they are left to sort thing out with whoever they can
flag down in the store help them. Clara's Hardware will be set-up to provide resources and assistance as soon as they walk into the
store.
Local repair and home improvement professionals: The South Gate area supports a good number of repair and home
improvement professionals. Currently, the hardware mega-stores have their business but Clara's Hardware can win a increasing share
of this customer group through aggressive marketing. Time is money and if Clara's Hardware can save them a trip outside the area,
they will buy there.
Market Analysis
Potential Customers
Women Home Owners
New Repair/Project Customers
Repair/Home Improvement
Professionals
Year 1
Year 2
Year 3
Year 4
Year 5
15,000
40,000
42
16,500
48,000
44
18,150
57,600
46
19,965
69,120
48
21,962
82,944
50
Growth
10%
20%
5%
CAGR
10.00%
20.00%
4.46%
Page 6
Appendix
Total
17.51%
55,042
64,544
75,796
89,133
104,956
17.51%
Page 7
Appendix
Location: Clara's Hardware is located in South Gate Plaza. The foot traffic in the plaza is very strong. The closest hardware store to
the South Gate area is a twenty minute drive.
Seasonal Products: Each season has it own unique demand on a homeowner. Clara's Hardware will focus on this pattern and bring
in local customers by marketing these items at competitive prices.
Repair/Project Resource Area: The first section customers will find when they enter the store is a repair/project resource area that
they can use to plan repairs or projects. There will be a repair/project resource person there to answer their questions and direct
them to the section of store where the needed products are.
In-Store Expertise: Store employees will be knowledgeable in home repairs/projects. In addition, the repair/project resource area
will be used to conduct short trainings and demonstrations in home repair and home projects.
Sales Forecast
Year 1
Year 2
Year 3
Hardware
Other
Total Sales
$964,000
$0
$964,000
$1,090,000
$0
$1,090,000
$1,240,000
$0
$1,240,000
Year 1
$474,000
$0
$474,000
Year 2
$500,000
$0
$500,000
Year 3
$612,000
$0
$612,000
Sales
Page 8
Appendix
Chart: Sales Monthly
Sales Monthly
$100,000
$90,000
$80,000
$70,000
$60,000
Hardware
$50,000
Other
$40,000
$30,000
$20,000
$10,000
$0
Month 1
Month 3
Month 5
Month 7
Month 9
Month 11
Month 2
Month 4
Month 6
Month 8
Month 10 Month 12
Page 9
Appendix
6.0 Management Summary
Clara Johnson is a excellent staff supervisor and will do very well in managing the staff of Clara's Hardware.
6.1 Personnel Plan
Clara's Hardware will have the following staff members:
Manager.
Assistant Manager.
Office Manager/Accountant.
Checkers (full time and part time).
Two Customer Assistants.
Stockers (full time and part time).
Table: Personnel
Personnel Plan
Manager
Assistant Manager
Office Manager/Bookkeeper
Checkers
Customer Assistants
Stockers
Other
Total People
Total Payroll
Year 1
Year 2
Year 3
$36,000
$36,000
$36,000
$32,400
$60,000
$39,600
$0
9
$40,000
$39,000
$39,000
$35,500
$68,000
$44,000
$0
9
$45,000
$43,000
$42,000
$40,000
$74,000
$48,000
$0
9
$240,000
$265,500
$292,000
Page 10
Appendix
7.0 Financial Plan
The following is the financial plan for Clara's Hardware.
7.1 Projected Cash Flow
The following table and chart highlight the projected cash flow for three years.
Chart: Cash
Cash
$150,000
$120,000
$90,000
$60,000
Cash Balance
$30,000
$0
Month 12
Month 11
Month 10
Month 9
Month 8
Month 7
Month 6
Month 5
Month 4
Month 3
Month 2
Month 1
($30,000)
Year 2
Year 3
Cash Received
Page 11
Appendix
Cash from Operations
Cash Sales
Subtotal Cash from Operations
$964,000
$964,000
$1,090,000
$1,090,000
$1,240,000
$1,240,000
$0
$0
$0
$0
$0
$0
$0
$964,000
$0
$0
$0
$0
$0
$0
$0
$1,090,000
$0
$0
$0
$0
$0
$0
$0
$1,240,000
Year 1
Year 2
Year 3
$240,000
$648,662
$888,662
$265,500
$734,321
$999,821
$292,000
$856,105
$1,148,105
$0
$0
$0
$30,000
$0
$0
$0
$918,662
$0
$0
$0
$30,000
$0
$0
$0
$1,029,821
$0
$0
$0
$30,000
$0
$0
$0
$1,178,105
$45,338
$166,338
$60,179
$226,517
$61,895
$288,412
Break-even Analysis
Monthly Revenue Break-even
$65,133
Page 12
Appendix
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
49%
$33,107
Break-even Analysis
$20,000
$10,000
$0
($10,000)
($20,000)
($30,000)
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$10,000
$30,000
$50,000
$70,000
$90,000
$110,000
Page 13
Appendix
7.3 Projected Profit and Loss
The following table and chart highlight the projected profit and loss for three years.
Profit Monthly
$15,000
$12,000
$9,000
$6,000
$3,000
$0
($3,000)
($6,000)
($9,000)
($12,000)
($15,000)
Month 1
Month 3
Month 5
Month 7
Month 9
Month 11
Month 2
Month 4
Month 6
Month 8
Month 10
Month 12
Year 2
Year 3
Sales
Direct Cost of Sales
Other Production Expenses
Total Cost of Sales
$964,000
$474,000
$0
$474,000
$1,090,000
$500,000
$0
$500,000
$1,240,000
$612,000
$0
$612,000
Gross Margin
Gross Margin %
$490,000
50.83%
$590,000
54.13%
$628,000
50.65%
Page 14
Appendix
Expenses
Payroll
Sales and Marketing and Other Expenses
Depreciation
Leased Equipment
Utilities
Insurance
Rent
Payroll Taxes
Other
$240,000
$75,000
$4,284
$0
$6,000
$0
$36,000
$36,000
$0
$265,500
$100,000
$4,285
$0
$6,000
$0
$36,000
$39,825
$0
$292,000
$100,000
$4,285
$0
$6,000
$0
$36,000
$43,800
$0
$397,284
$451,610
$482,085
$92,716
$97,000
$13,375
$23,802
$138,390
$142,675
$10,500
$38,367
$145,915
$150,200
$7,500
$41,525
Net Profit
Net Profit/Sales
$55,539
5.76%
$89,523
8.21%
$96,891
7.81%
Year 2
Year 3
$166,338
$46,200
$0
$212,538
$226,517
$48,347
$0
$274,864
$288,412
$68,666
$0
$357,078
$30,000
$4,284
$25,716
$238,254
$30,000
$8,569
$21,431
$296,295
$30,000
$12,854
$17,146
$374,224
Assets
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Page 15
Appendix
Liabilities and Capital
Year 1
Year 2
Year 3
$61,715
$0
$0
$61,715
$60,233
$0
$0
$60,233
$71,272
$0
$0
$71,272
Long-term Liabilities
Total Liabilities
$120,000
$181,715
$90,000
$150,233
$60,000
$131,272
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$80,000
($79,000)
$55,539
$56,539
$238,254
$80,000
($23,461)
$89,523
$146,062
$296,295
$80,000
$66,062
$96,891
$242,952
$374,224
$56,539
$146,062
$242,952
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
Net Worth
7.5 Ratios
Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC)
code 5251, Hardware Stores, are shown for comparison.
Table: Ratios
Ratio Analysis
Year 1
Year 2
Year 3
Industry Profile
n.a.
13.07%
13.76%
6.00%
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Total Assets
19.39%
0.00%
89.21%
10.79%
100.00%
16.32%
0.00%
92.77%
7.23%
100.00%
18.35%
0.00%
95.42%
4.58%
100.00%
48.50%
20.20%
79.70%
20.30%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
25.90%
50.37%
76.27%
23.73%
20.33%
30.38%
50.70%
49.30%
19.05%
16.03%
35.08%
64.92%
37.60%
19.70%
57.30%
42.70%
Sales Growth
Percent of Total Assets
Percent of Sales
Page 16
Appendix
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Profit Before Interest and Taxes
100.00%
50.83%
45.07%
7.78%
9.62%
100.00%
54.13%
45.92%
9.17%
12.70%
100.00%
50.65%
42.83%
8.06%
11.77%
100.00%
33.80%
21.10%
1.90%
1.10%
3.44
2.70
76.27%
140.33%
33.30%
4.56
3.76
50.70%
87.56%
43.16%
5.01
4.05
35.08%
56.97%
36.99%
2.24
0.58
57.30%
2.20%
5.30%
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
Additional Ratios
Year 1
Year 2
Year 3
5.76%
98.23%
8.21%
61.29%
7.81%
39.88%
n.a
n.a
10.91
11.51
27
4.05
10.58
12.17
30
3.68
10.46
12.17
28
3.31
n.a
n.a
n.a
n.a
3.21
0.34
1.03
0.40
0.54
0.54
n.a
n.a
$150,823
6.93
$214,631
13.18
$285,806
19.46
n.a
n.a
0.25
26%
2.70
17.05
0.00
0.27
20%
3.76
7.46
0.00
0.30
19%
4.05
5.10
0.00
n.a
n.a
n.a
n.a
n.a
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
Sales Forecast
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$85,000
$79,000
$95,000
Sales
Hardware
0%
$50,000
$60,000
$70,000
$75,000
$85,000
$90,000
$100,000
$85,000
$90,000
Page 17
Appendix
Other
Total Sales
Direct Cost of Sales
Hardware
Other
Subtotal Direct Cost of Sales
0%
$0
$50,000
Month 1
$0
$60,000
Month 2
$0
$70,000
Month 3
$0
$75,000
Month 4
$0
$85,000
Month 5
$0
$90,000
Month 6
$0
$100,000
Month 7
$0
$85,000
Month 8
$0
$90,000
Month 9
$0
$85,000
$0
$79,000
$0
$95,000
Month 10
Month 11
Month 12
$25,000
$30,000
$35,000
$37,000
$42,000
$45,000
$50,000
$42,000
$45,000
$42,000
$39,000
$42,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$25,000
$30,000
$35,000
$37,000
$42,000
$45,000
$50,000
$42,000
$45,000
$42,000
$39,000
$42,000
Page 18
Appendix
Table: Personnel
Personnel Plan
Manager
Assistant Manager
Office Manager/Bookkeeper
Checkers
Customer Assistants
Stockers
Other
Total People
Total Payroll
0%
0%
0%
0%
0%
0%
0%
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
Month
10
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$20,000
Month
11
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$20,000
Month
12
$3,000
$3,000
$3,000
$2,700
$5,000
$3,300
$0
9
$20,000
Page 19
Appendix
Table: General Assumptions
General Assumptions
Plan Month
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
10
11
Month 12
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%
Long-term Interest
Rate
Tax 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%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
Other
Page 20
Appendix
Table: Profit and Loss
Month 11
Month 12
Sales
$50,000
Month 1
$60,000
Month 2
$70,000
Month 3
$75,000
Month 4
$85,000
Month 5
$90,000
Month 6
$100,000
Month 7
$85,000
Month 8
$90,000
Month 9
$85,000
$79,000
$95,000
$25,000
$30,000
$35,000
$37,000
$42,000
$45,000
$50,000
$42,000
$45,000
$42,000
$39,000
$42,000
Other Production
Expenses
Total Cost of Sales
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$25,000
$30,000
$35,000
$37,000
$42,000
$45,000
$50,000
$42,000
$45,000
$42,000
$39,000
$42,000
Gross Margin
$25,000
$30,000
$35,000
$38,000
$43,000
$45,000
$50,000
$43,000
$45,000
$43,000
$40,000
$53,000
50.00%
50.00%
50.00%
50.67%
50.59%
50.00%
50.00%
50.59%
50.00%
50.59%
50.63%
55.79%
Payroll
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$25,000
$5,000
$0
$5,000
$5,000
$0
$5,000
$0
$0
$5,000
$5,000
$357
$357
$357
$357
$357
$357
$357
$357
$357
$357
$357
$357
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
Gross Margin %
Expenses
Leased Equipment
Utilities
Insurance
Rent
Payroll Taxes
Other
Total Operating
Expenses
Profit Before Interest and
Taxes
EBITDA
Interest Expense
Taxes Incurred
Net Profit
Net Profit/Sales
15%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$3,000
$0
$46,857
$51,857
$31,857
$26,857
$31,857
$31,857
$26,857
$31,857
$26,857
$26,857
$31,857
$31,857
($21,857)
($21,857)
$3,143
$11,143
$11,143
$13,143
$23,143
$11,143
$18,143
$16,143
$8,143
$21,143
($21,500)
($21,500)
$3,500
$11,500
$11,500
$13,500
$23,500
$11,500
$18,500
$16,500
$8,500
$21,500
$1,188
$1,167
$1,146
$1,125
$1,104
$1,083
$1,063
$1,042
$1,021
$1,000
$1,229
$1,208
($6,926)
($6,920)
$587
$2,993
$2,999
$3,605
$6,612
$3,018
$5,124
$4,530
$2,137
$6,043
($16,160)
($16,146)
$1,369
$6,983
$6,998
$8,413
$15,427
$7,042
$11,956
$10,571
$4,986
$14,100
-32.32%
-26.91%
1.96%
9.31%
8.23%
9.35%
15.43%
8.28%
13.28%
12.44%
6.31%
14.84%
Page 21
Appendix
Table: Cash Flow
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Cash Received
Cash from Operations
Cash Sales
$50,000
$60,000
$70,000
$75,000
$85,000
$90,000
$100,000
$85,000
$90,000
$85,000
$79,000
$95,000
$50,000
$60,000
$70,000
$75,000
$85,000
$90,000
$100,000
$85,000
$90,000
$85,000
$79,000
$95,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
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
$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
$50,000
$60,000
$70,000
$75,000
$85,000
$90,000
$85,000
$90,000
$85,000
$79,000
$95,000
Month 10
Month 11
Month 12
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
$100,000
Month 7
Month 8
Month 9
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$2,443
$72,903
$61,038
$53,644
$50,302
$63,191
$64,703
$69,019
$49,207
$60,646
$50,758
$50,807
$22,443
$92,903
$81,038
$73,644
$70,302
$83,191
$84,703
$89,019
$69,207
$80,646
$70,758
$70,807
$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
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
Bill Payments
Subtotal Spent on Operations
Additional Cash Spent
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$24,943
$95,403
$83,538
$76,144
$72,802
$85,691
$87,203
$91,519
$71,707
$83,146
$73,258
$73,307
Page 22
Appendix
Net Cash Flow
$25,057
($35,403)
($13,538)
($1,144)
$12,198
Cash Balance
$146,057
$110,654
$97,115
$95,972
$108,169
$12,797
($6,519)
$18,293
$112,478
$4,309
$125,275
$118,756
$137,049
$138,903
$1,854
$144,645
$5,742
$166,338
$21,693
Assets
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month
10
Month
11
Month
12
$121,000
$0
$0
$121,000
$146,057
$27,500
$0
$173,557
$110,654
$33,000
$0
$143,654
$97,115
$38,500
$0
$135,615
$95,972
$40,700
$0
$136,672
$108,169
$46,200
$0
$154,369
$112,478
$49,500
$0
$161,978
$125,275
$55,000
$0
$180,275
$118,756
$46,200
$0
$164,956
$137,049
$49,500
$0
$186,549
$138,903
$46,200
$0
$185,103
$144,645
$42,900
$0
$187,545
$166,338
$46,200
$0
$212,538
$30,000
$0
$30,000
$151,000
$30,000
$357
$29,643
$203,200
$30,000
$714
$29,286
$172,940
$30,000
$1,071
$28,929
$164,544
$30,000
$1,428
$28,572
$165,244
$30,000
$1,785
$28,215
$182,584
$30,000
$2,142
$27,858
$189,836
$30,000
$2,499
$27,501
$207,776
$30,000
$2,856
$27,144
$192,100
$30,000
$3,213
$26,787
$213,336
$30,000
$3,570
$26,430
$211,533
$30,000
$3,927
$26,073
$213,618
$30,000
$4,284
$25,716
$238,254
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month
10
Month
11
Month
12
Starting
Balances
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Liabilities and Capital
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$0
$0
$0
$0
$70,860
$0
$0
$70,860
$59,246
$0
$0
$59,246
$51,982
$0
$0
$51,982
$48,198
$0
$0
$48,198
$61,040
$0
$0
$61,040
$62,379
$0
$0
$62,379
$67,392
$0
$0
$67,392
$47,175
$0
$0
$47,175
$58,954
$0
$0
$58,954
$49,080
$0
$0
$49,080
$48,679
$0
$0
$48,679
$61,715
$0
$0
$61,715
Long-term Liabilities
Total Liabilities
$150,000
$150,000
$147,500
$218,360
$145,000
$204,246
$142,500
$194,482
$140,000
$188,198
$137,500
$198,540
$135,000
$197,379
$132,500
$199,892
$130,000
$177,175
$127,500
$186,454
$125,000
$174,080
$122,500
$171,179
$120,000
$181,715
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$80,000
($79,000)
$0
$1,000
$151,000
$80,000
($79,000)
($16,160)
($15,160)
$203,200
$80,000
($79,000)
($32,306)
($31,306)
$172,940
$80,000
($79,000)
($30,937)
($29,937)
$164,544
$80,000
($79,000)
($23,954)
($22,954)
$165,244
$80,000
($79,000)
($16,956)
($15,956)
$182,584
$80,000
($79,000)
($8,543)
($7,543)
$189,836
$80,000
($79,000)
$6,884
$7,884
$207,776
$80,000
($79,000)
$13,926
$14,926
$192,100
$80,000
($79,000)
$25,882
$26,882
$213,336
$80,000
($79,000)
$36,453
$37,453
$211,533
$80,000
($79,000)
$41,439
$42,439
$213,618
$80,000
($79,000)
$55,539
$56,539
$238,254
($15,160)
($31,306)
($29,937)
($22,954)
($15,956)
($7,543)
$14,926
$26,882
$37,453
$42,439
$56,539
Net Worth
$1,000
$7,884
Page 23