Income statement Projections Note Daily Monthly Yearly
NET SALES 19,400 582,000 6,984,000
COST OF GOODS SOLD 1 9,700 291,000 3,492,000
GROSS PROFIT 9,700 291,000 3,492,000
OPERATING EXPENSES
Rent Expense 819.44 24,583.33 295,000
Supplies Expense 200 6,000 72,000
Utilities Expense 300 9,000 108,000
Salaries Expense (inc. benefits) 2 1,280 38,400 460,800
13 Month and Bonuses 180.26 5,408 64,896
Legal Fees 3 35 1,050 12,600
Advertising and Promotion 222.22 6,666.67 80,000
Miscellaneous Expense 4 250 7,500 90,000
TOTAL OPERATING EXPENSE 3,286.92 98,608 1,183,296
TOTAL OPERATING INCOME 6,413.08 192,392 2,308,704
INCOME BEFORE INTEREST AND 6,413.08 192,392 2,308,704
TAXES
Interest Expense 5 0 0 0
INCOME BEFORE INCOME TAX 6,413.08 192,392 2,308,704
Tax rate for Partnership 30% 30% 30%
Tax Due 1,923.92 57,717.6 692,611.2
NET INCOME 4,489.16 134,674.4 1,616,092.8
Sweet Boniatos Capital 1,500,000
Add: Net Income 1,616,092.8
Total Owner’s Equity 3,116,092.8
ASSETS Note
Current Assets
Cash and Cash Equivalents 8 930,000.8
Receivables 9 200,000
Inventories 10 812,092
Prepaid Rent 60,000
Total Current Assets 2,002,092.8
Non-current Assets
Property and Equipment 11 800,000
Furniture & Fixture 12 400,000
Accumulated Depreciation (46,000)
Total Non-current Assets 1,154,000
Total Assets 3,156,092.8
LIABILITIES AND EQUITY
Current Liability
Accounts Payable 13 40,000
Non-current Liability
Long-Term Debt (yearly) 14 0
Total Liabilities 40,000
OWNERS’ EQUITY 3,116,092.8
TOTAL LIABILITIES AND OWNER’S 3,156,092.8
EQUITY
