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Table of Contents
Table of Contents
Page 2
Page 1
Financial Considerations
Start-up assets required are [see Start-up table]. This includes [see Start-up table] in expenses
and the rest in cash needed to support operations until revenues reach an acceptable level.
Most of the company's liabilities will come from outside private investors and management
investment, however, we have obtained [see Start-up Funding table] in current borrowing from
Bank of America Commercial Investments, the principal to be paid off in two years. A long-term
loan of [see Start-up Funding table] through Charter Bank of Augusta will be paid off in ten
years.
The company expects to reach profitability in year one and does not anticipate any serious cash
flow problems. We conservatively believe that during the first three years, average profitability
per month per segment will be about $8,000. We expect that about three projects per month
will guarantee a break-even point.
Chart: Highlights
1.1 Objectives
The three year goals for Compton Geotechnical Associates (CGA) are the following:
1.2 Mission
It is the mission of CGA to provide innovative approaches to geological engineering services and
to build effective long-term relations with our clients with excellent services delivered in a
timely and cost-effective manner.
Page 2
Keeping close contact with clients and establishing a well functioning long-term relationship
with them to generate repeat business and obtain a top-notch reputation.
Establish a comprehensive service experience for our clients that includes consultation, field
and laboratory work, in-house design, analysis, and follow up monitoring of geo-hazards.
Start-up
Requirements
Page 3
Start-up Expenses
Legal
Insurance
Utilities
Rent
Accounting and bookkeeping fees
Expensed equipment
Advertising
Other
Total Start-up Expenses
$1,000
$2,000
$200
$3,000
$2,000
$8,000
$6,500
$8,000
$30,700
Start-up Assets
Cash Required
Other Current Assets
Long-term Assets
Total Assets
$104,800
$3,500
$25,000
$133,300
Total Requirements
$164,000
Start-up Funding
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required
$30,700
$133,300
$164,000
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
$28,500
$104,800
$0
$104,800
$133,300
$16,000
$45,000
$3,000
$0
$64,000
Capital
Planned Investment
Mr. Martin Compton
Ms. Elizabeth Bathory
Mr. David Gillen
Mr. Jeremy Leither
Others
Additional Investment Requirement
Total Planned Investment
$25,000
$20,000
$20,000
$8,000
$27,000
$0
$100,000
($30,700)
$69,300
$133,300
Total Funding
$164,000
Page 4
Chart: Start-up
3.0 Services
CGA offers comprehensive geo-engineering services to our diverse clients. Our services fall into
two main opportunities of geotechnical engineering services and construction
monitoring/laboratory testing. Our geotechnical engineering services include:
The services we provide for construction monitoring and laboratory testing include:
Each project is customized to our client and its scope, length, depth, reach, and cost are
unique.
Page 5
We are concentrating on these specific market segments for a variety of reasons. The
construction industry now requires, by law, certain certifications of safe practices including
retaining wall and foundation load bearing capacities, slope stabilities, and geo-instrumentation
installation.
Local and state governments often require services such as earth science historical reviews,
geomorphological studies and coastal processes studies for their constituents. Real estate
companies are in need of bluff studies and fault mapping.
Finally utility companies require a wide variety of services that also include soil and water
analysis, seismicity studies, aerial photo interpretation, etc. All these companies further require
ongoing services that will provide CGA with long-term profitability.
The market analysis table and graph which follows shows the number of each type of
organizations in the state of Maine. This will be our expected geographical focus. It must be
Page 6
noted however, that some of the segments, although they are quite small in the number of
potential clients, have very high profitability levels.
Table: Market Analysis
Market Analysis
Potential Customers
Major construction companies
Local and state governments
Real estate companies
Utility companies
Other
Total
Year 1
Year 2
Year 3
Year 4
Year 5
12
18
40
6
10
86
12
19
42
6
11
90
12
20
44
6
12
94
12
21
46
6
13
98
12
22
48
6
14
102
Growth
2%
3%
4%
0%
5%
4.36%
CAGR
0.00%
5.14%
4.66%
0.00%
8.78%
4.36%
Page 7
CGA believes that the greatest threat at the moment is in new entrants to to market who will
want to capitalize on this high growth industry. The most likely entrants will be new, small
consulting companies with fewer than ten employees. However, the one major disadvantage to
new entrants is that all firms engaged in contracting to geoengineering firms face significant
switching costs when bringing on a consulting partner. Furthermore, CGA understands that in
this industry there is a significant learning curve that creates declining "unit" costs as a firm
gains more cumulative experience in the field itself and with long-term clients specifically.
Rivalry among different geotechnical companies is relatively moderate as much of the potential
rivalry is absorbed by the high growth rate. Many of the competitors are able to improve
profitability simply by keeping up with industry growth.
The power of potential clients is very great in this industry because most clients are very
concentrated in our geographical area. furthermore, because of the high cost of our services,
clients tend to "shop around" for the best package of services and cost. Finally, some of our
market segments, such as governments have "profitability" restraints that cause them to
pressure geotechnical companies for superior terms.
4.2.1 Competition and Buying Patterns
Competition
Competition includes all potential geotechnical companies in our geographical operating area.
The geoengineering industry is highly fragmented, with a large number of small companies that
mainly cater to small firms and a few large companies that seek the largest contracts. Our most
serious competitors are Goldner Geotechnical and Earth Sciences Consultants. Goldner is an
established company that has been in operation for the past ten years, with a fine track record
of quality work. It currently employees twelve consultants and has long-term contracts with the
city of Damrascotta and the Skowhegan River Water District. This company is analogous to CGA
in size, capabilities, services, and estimated profits.
Earth Sciences Consultants is one of the largest and best known geotechnical firms on the east
coast and is expected to expand into a nationwide company within the next five years. It has
hundreds of staff consultants and very deep pockets that can be used to counter any sort of
competitive move.
Buying Patterns and Needs
Companies usually enter into contracts with geotechnical companies based on their reputation
of professionalism and quality of services rendered in the past. This reputation is difficult to
obtain by new firms unless, its personnel bring it with them from previous companies, as we
are. Price and scope are also important reasons for accepting contracts, especially if the
company is small.
5.0 Strategy and Implementation Summary
Compton Geotechnical Associates' business strategy is to enter into a limited geographical area
where it can leverage its staff's existing collective reputation into long-term contracts centered
on employee service and cost effectiveness. We believe that we can service this limited market
better than larger firms and we have better service packages at a more reasonable cost than
existing competitors of equal size.
Page 8
Sales Forecast
Year 1
Year 2
Year 3
$93,000
$33,000
$69,000
$68,000
$36,000
$299,000
$145,000
$56,000
$110,000
$85,000
$45,000
$441,000
$224,000
$98,000
$93,000
$90,000
$45,000
$550,000
Year 1
$1,200
$1,200
$2,400
Year 2
$0
$0
$0
Year 3
$0
$0
$0
Sales
Local and state governments
Real estate companies
Construction companies
Utility companies
Other projects
Total Sales
Direct Cost of Sales
Row 1
Other
Subtotal Direct Cost of Sales
Page 9
Page 10
The company plans to hire additional consultants, design support and administrative personnel
as we begin to get large numbers of contracts.
6.1 Personnel
CGA's management brings to the company strong capabilities in creative flair, research, and a
unique combination of skills drawn from other businesses.
Key Personnel
Mr. Martin Compton is a graduate of the University of Kansas where he obtained his civil
engineering degree in 1971. Since then, Mr. Compton has had extensive experience in site
specific municipal, commercial and residential construction projects. This includes experience in
budgeting, project oversight, resolving engineering issues, etc. In 1996 he obtained a graduate
degree in geo engineering from MIT. Mr. Compton spent the last four years as the engineering
geology department head with Wilson and Brown, Inc.
Mr. David Gillen graduated from Penn State University with a bachelors degree in Hydrology in
1975. From 1978-1988 Mr. Danielson worked for The USGS as a key figure in its
groundbreaking National Water/Soil Suitability Survey. In 1989 he went to work for Anderson
Consulting in their geotechnical division where he worked on sub-bottom acoustic profiling,
tunnel and shaft rehabilitation, and designing procedures for testing ground water infiltration
rates.
Table: Personnel
Personnel Plan
Mr. Martin Compton - president
Mrs. Elizabeth Bathory - office manager
Mr. David Gillen - projects manager
Mr. Jeremy Leither - staff engineer
Geo-engineering consultant
CAD draftsperson P/T
Total People
Total Payroll
Year 1
Year 2
Year 3
$36,000
$36,000
$36,000
$36,000
$36,000
$10,500
6
$40,000
$40,000
$39,000
$39,000
$38,000
$13,000
6
$60,000
$60,000
$45,000
$45,000
$42,000
$16,000
6
$190,500
$209,000
$268,000
Page 11
General Assumptions
Plan Month
Current Interest Rate
Long-term Interest Rate
Tax Rate
Other
Year 1
Year 2
Year 3
1
10.00%
10.00%
30.00%
0
2
10.00%
10.00%
30.00%
0
3
10.00%
10.00%
30.00%
0
Page 12
Break-even Analysis
Monthly Revenue Break-even
$23,444
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
1%
$23,256
Page 13
Page 14
Page 15
Year 2
Year 3
Sales
Direct Cost of Sales
Other Costs of Sales
Total Cost of Sales
$299,000
$2,400
$7,000
$9,400
$441,000
$0
$7,000
$7,000
$550,000
$0
$7,000
$7,000
Gross Margin
Gross Margin %
$289,600
96.86%
$434,000
98.41%
$543,000
98.73%
Payroll
Sales and Marketing and Other Expenses
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
Travel
Other
$190,500
$6,000
$0
$18,000
$3,600
$13,200
$28,575
$12,000
$7,200
$209,000
$10,000
$2,500
$20,000
$3,600
$14,000
$31,350
$12,000
$8,000
$268,000
$14,000
$2,500
$22,000
$4,000
$15,000
$40,200
$15,000
$10,000
$279,075
$310,450
$390,700
$10,525
$10,525
$6,100
$1,328
$123,550
$126,050
$5,500
$35,415
$152,300
$154,800
$4,300
$44,400
$3,097
1.04%
$82,635
18.74%
$103,600
18.84%
Expenses
Page 16
Chart: Cash
Year 2
Year 3
$74,750
$162,100
$236,850
$110,250
$301,234
$411,484
$137,500
$389,843
$527,343
$0
$0
$0
$0
$0
$0
$3,000
$239,850
$0
$0
$0
$0
$0
$0
$0
$411,484
$0
$0
$0
$0
$0
$0
$0
$527,343
Year 1
Year 2
Year 3
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
Page 17
$190,500
$92,676
$283,176
$209,000
$150,520
$359,520
$268,000
$173,514
$441,514
$0
$0
$0
$0
$0
$0
$0
$283,176
$0
$8,000
$0
$4,000
$0
$0
$0
$371,520
$0
$8,000
$0
$4,000
$0
$0
$0
$453,514
($43,326)
$61,474
$39,964
$101,438
$73,830
$175,267
Page 18
Year 2
Year 3
$61,474
$62,150
$3,500
$127,124
$101,438
$91,666
$3,500
$196,604
$175,267
$114,323
$3,500
$293,090
$25,000
$0
$25,000
$152,124
$25,000
$2,500
$22,500
$219,104
$25,000
$5,000
$20,000
$313,090
Year 1
Year 2
Year 3
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$15,726
$16,000
$0
$31,726
$12,071
$8,000
$0
$20,071
$14,458
$0
$0
$14,458
Long-term Liabilities
Total Liabilities
$45,000
$76,726
$41,000
$61,071
$37,000
$51,458
$103,000
($30,700)
$3,097
$75,398
$152,124
$103,000
($27,603)
$82,635
$158,033
$219,104
$103,000
$55,032
$103,600
$261,633
$313,090
$75,398
$158,033
$261,633
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
Liabilities and Capital
Current Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Ratio Analysis
Sales Growth
Year 1
Year 2
Year 3
Industry Profile
n.a.
47.49%
24.72%
6.39%
Page 19
40.85%
2.30%
83.57%
16.43%
100.00%
41.84%
1.60%
89.73%
10.27%
100.00%
36.51%
1.12%
93.61%
6.39%
100.00%
39.28%
34.90%
77.16%
22.84%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
20.86%
29.58%
50.44%
49.56%
9.16%
18.71%
27.87%
72.13%
4.62%
11.82%
16.44%
83.56%
38.24%
13.12%
51.36%
48.64%
100.00%
96.86%
96.06%
0.00%
3.52%
100.00%
98.41%
79.67%
0.00%
28.02%
100.00%
98.73%
79.89%
0.00%
27.69%
100.00%
100.00%
81.87%
0.32%
2.33%
4.01
4.01
50.44%
5.87%
2.91%
9.80
9.80
27.87%
74.70%
53.88%
20.27
20.27
16.44%
56.57%
47.27%
1.73
1.43
5.72%
57.36%
13.43%
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
Year 1
Year 2
Year 3
1.04%
4.11%
18.74%
52.29%
18.84%
39.60%
n.a
n.a
3.61
55
6.70
28
1.97
3.61
85
12.17
35
2.01
3.61
91
12.17
28
1.76
n.a
n.a
n.a
n.a
n.a
1.02
0.41
0.39
0.33
0.20
0.28
n.a
n.a
$95,398
1.73
$176,533
22.46
$278,633
35.42
n.a
n.a
0.51
21%
2.05
3.97
0.00
0.50
9%
5.23
2.79
0.00
0.57
5%
12.36
2.10
0.00
n.a
n.a
n.a
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
Page 20
Appendix
Table: Sales Forecast
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
$6,000
$0
$0
$5,000
$0
$11,000
$6,000
$0
$0
$5,000
$0
$11,000
$6,000
$0
$0
$5,000
$0
$11,000
$6,000
$0
$0
$5,000
$0
$11,000
$6,000
$0
$7,000
$5,000
$0
$18,000
$6,000
$2,000
$5,000
$5,000
$0
$18,000
$6,000
$4,000
$3,000
$5,000
$7,000
$25,000
$6,000
$4,000
$26,000
$5,000
$5,000
$46,000
$6,000
$5,000
$4,000
$7,000
$12,000
$34,000
$6,000
$5,000
$7,000
$7,000
$5,000
$30,000
$9,000
$6,000
$10,000
$7,000
$2,000
$34,000
$24,000
$7,000
$7,000
$7,000
$5,000
$50,000
Sales
Local and state governments
Real estate companies
Construction companies
Utility companies
Other projects
Total Sales
Direct Cost of Sales
0%
0%
0%
0%
0%
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Row 1
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
Other
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
Page 1
Appendix
Table: Personnel
Personnel Plan
Mr. Martin Compton - president
Mrs. Elizabeth Bathory - office manager
Mr. David Gillen - projects manager
Mr. Jeremy Leither - staff engineer
Geo-engineering consultant
CAD draftsperson P/T
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
Month 10
Month 11
Month 12
$3,000
$3,000
$3,000
$3,000
$3,000
$0
5
$3,000
$3,000
$3,000
$3,000
$3,000
$0
5
$3,000
$3,000
$3,000
$3,000
$3,000
$0
5
$3,000
$3,000
$3,000
$3,000
$3,000
$0
5
$3,000
$3,000
$3,000
$3,000
$3,000
$0
5
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$3,000
$3,000
$3,000
$3,000
$3,000
$1,500
6
$15,000
$15,000
$15,000
$15,000
$15,000
$16,500
$16,500
$16,500
$16,500
$16,500
$16,500
$16,500
Page 2
Appendix
Table: General Assumptions
General Assumptions
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
10
11
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%
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%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
Plan Month
Other
Month 12
Page 3
Appendix
Table: Profit and Loss
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$11,000
$11,000
$11,000
$11,000
$18,000
$18,000
$25,000
$46,000
$34,000
$30,000
$34,000
$50,000
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$500
$500
$500
$500
$500
$500
$500
$700
$700
$700
$700
$700
$700
$700
$700
$700
$700
$700
$700
$900
$900
$900
$900
$900
Gross Margin
$10,300
$10,300
$10,300
$10,300
$17,300
$17,300
$24,300
$45,100
$33,100
$29,100
$33,100
$49,100
Gross Margin %
93.64%
93.64%
93.64%
93.64%
96.11%
96.11%
97.20%
98.04%
97.35%
97.00%
97.35%
98.20%
$15,000
$15,000
$15,000
$15,000
$15,000
$16,500
$16,500
$16,500
$16,500
$16,500
$16,500
$16,500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
Sales
Expenses
Payroll
Sales and Marketing and Other
Expenses
Depreciation
Rent
Utilities
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$300
$300
$300
$300
$300
$300
$300
$300
$300
$300
$300
$300
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$1,100
$2,250
$1,000
$600
$2,250
$1,000
$600
$2,250
$1,000
$600
$2,250
$1,000
$600
$2,250
$1,000
$600
$2,475
$1,000
$600
$2,475
$1,000
$600
$2,475
$1,000
$600
$2,475
$1,000
$600
$2,475
$1,000
$600
$2,475
$1,000
$600
$2,475
$1,000
$600
$22,250
$22,250
$22,250
$22,250
$22,250
$23,975
$23,975
$23,975
$23,975
$23,975
$23,975
$23,975
($11,950)
($11,950)
($11,950)
($11,950)
($4,950)
($6,675)
$325
$21,125
$9,125
$5,125
$9,125
$25,125
EBITDA
($11,950)
($11,950)
($11,950)
($11,950)
($4,950)
($6,675)
$325
$21,125
$9,125
$5,125
$9,125
$25,125
$508
$508
$508
$508
$508
$508
$508
$508
$508
$508
$508
$508
($3,738)
($3,738)
($3,738)
($3,738)
($1,637)
($2,155)
($55)
$6,185
$2,585
$1,385
$2,585
$7,385
Insurance
Payroll Taxes
Travel
Other
Total Operating Expenses
Interest Expense
Taxes Incurred
15%
15%
Net Profit
($8,721)
($8,721)
($8,721)
($8,721)
($3,821)
($5,028)
($128)
$14,432
$6,032
$3,232
$6,032
$17,232
Net Profit/Sales
-79.28%
-79.28%
-79.28%
-79.28%
-21.23%
-27.94%
-0.51%
31.37%
17.74%
10.77%
17.74%
34.46%
Page 4
Appendix
Table: Cash Flow
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
$2,750
$2,750
$2,750
$2,750
$4,500
$0
$275
$8,250
$8,250
$8,250
$2,750
$3,025
$11,000
$11,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Month 9
$4,500
$6,250
$11,500
$8,500
$8,425
$13,500
$13,675
$19,275
$12,750
$12,925
$19,750
$25,175
$27,775
$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
$2,750
$3,025
$11,000
Month 1
Month 2
$15,000
$3,157
Month 10
Month 11
Month 12
$7,500
$8,500
$12,500
$34,200
$25,400
$22,600
$41,700
$33,900
$35,100
$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
$1,500
$1,500
$0
$0
$0
$0
$11,000
$12,750
$12,925
$21,250
$26,675
$27,775
$41,700
$33,900
$35,100
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$15,000
$15,000
$15,000
$15,000
$16,500
$16,500
$16,500
$16,500
$16,500
$16,500
$16,500
$4,721
$4,721
$4,721
$4,791
$6,811
$6,598
$8,843
$14,948
$11,428
$10,308
$11,628
$18,157
$19,721
$19,721
$19,721
$19,791
$23,311
$23,098
$25,343
$31,448
$27,928
$26,808
$28,128
$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
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$18,157
$19,721
$19,721
$19,721
$19,791
$23,311
$23,098
$25,343
$31,448
$27,928
$26,808
$28,128
($15,407)
($16,696)
($8,721)
($8,721)
($7,041)
($10,386)
($1,848)
$1,332
($3,673)
$13,772
$7,092
$6,972
Cash Balance
$89,393
$72,697
$63,976
$55,255
$48,214
$37,828
$35,980
$37,312
$33,639
$47,410
$54,502
$61,474
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
0.00%
Page 5
Appendix
Table: Balance Sheet
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$104,800
$0
$3,500
$108,300
$89,393
$8,250
$3,500
$101,143
$72,697
$16,225
$3,500
$92,422
$63,976
$16,225
$3,500
$83,701
$55,255
$16,225
$3,500
$74,980
$48,214
$21,475
$3,500
$73,189
$37,828
$26,550
$3,500
$67,878
$35,980
$31,800
$3,500
$71,280
$37,312
$52,625
$3,500
$93,437
$33,639
$58,850
$3,500
$95,989
$47,410
$47,150
$3,500
$98,060
$54,502
$47,250
$3,500
$105,252
$61,474
$62,150
$3,500
$127,124
$25,000
$0
$25,000
$133,300
$25,000
$0
$25,000
$126,143
$25,000
$0
$25,000
$117,422
$25,000
$0
$25,000
$108,701
$25,000
$0
$25,000
$99,980
$25,000
$0
$25,000
$98,189
$25,000
$0
$25,000
$92,878
$25,000
$0
$25,000
$96,280
$25,000
$0
$25,000
$118,437
$25,000
$0
$25,000
$120,989
$25,000
$0
$25,000
$123,060
$25,000
$0
$25,000
$130,252
$25,000
$0
$25,000
$152,124
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
Accounts Receivable
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
$3,000
$16,000
$0
$19,000
$4,563
$16,000
$0
$20,563
$4,563
$16,000
$0
$20,563
$4,563
$16,000
$0
$20,563
$4,563
$16,000
$0
$20,563
$6,593
$16,000
$0
$22,593
$6,311
$16,000
$0
$22,311
$8,341
$16,000
$0
$24,341
$14,566
$16,000
$0
$30,566
$11,086
$16,000
$0
$27,086
$9,926
$16,000
$0
$25,926
$11,086
$16,000
$0
$27,086
$15,726
$16,000
$0
$31,726
Long-term Liabilities
Total Liabilities
$45,000
$64,000
$45,000
$65,563
$45,000
$65,563
$45,000
$65,563
$45,000
$65,563
$45,000
$67,593
$45,000
$67,311
$45,000
$69,341
$45,000
$75,566
$45,000
$72,086
$45,000
$70,926
$45,000
$72,086
$45,000
$76,726
$100,000
($30,700)
$0
$69,300
$133,300
$100,000
($30,700)
($8,721)
$60,579
$126,143
$100,000
($30,700)
($17,442)
$51,858
$117,422
$100,000
($30,700)
($26,163)
$43,138
$108,701
$100,000
($30,700)
($34,883)
$34,417
$99,980
$100,000
($30,700)
($38,704)
$30,596
$98,189
$100,000
($30,700)
($43,733)
$25,567
$92,878
$101,500
($30,700)
($43,861)
$26,939
$96,280
$103,000
($30,700)
($29,429)
$42,871
$118,437
$103,000
($30,700)
($23,398)
$48,902
$120,989
$103,000
($30,700)
($20,166)
$52,134
$123,060
$103,000
($30,700)
($14,134)
$58,166
$130,252
$103,000
($30,700)
$3,097
$75,398
$152,124
$69,300
$60,579
$51,858
$43,138
$34,417
$30,596
$25,568
$26,939
$42,871
$48,903
$52,134
$58,166
$75,398
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Page 6