Financial StatementsEngineering 90Prof. Eric Suuberg

What is a Financial Statement?A financial statement is a quantitative way of showing how a company is doing.Three different ways of representing the financial state of a company:Cash Management (can the company meet its obligations?)Profitability (Is it making money?) - the income statementAssets versus Liabilities (what is the value of the company? Who owns what?) - the balance sheetEach one of these questions is answered by our Financial Statements.

The Big ThreeCash Flow StatementsThese answer the important managerial question do I have enough cash to run my businessIncome StatementsThis is the financial sheet that tells you if your company is profitable or not.Balance SheetsHow much debt do I have? How large are my assets? This sheet tells you the answer to these questions.

Cash Flow StatementsA report of all a firms transactions that involve cashThe key elements are revenues (money flowing in) and expenses (money flowing out).Cash flow statements compare the sum of the revenues to the sum of the expenses on a regular time basis usually monthly. Manning Electronics (Engineering 9) Did Ms. Manning have enough cash to buy that piece of equipment for her boat business?

What are Revenues?SalesInterest from firms investments (e.g., a company savings account)Royalty and Licensing payments for appropriate use of firms intellectual property Another source of cash inflow, but not a revenue is the cash the firm receives from borrowing money.

What are Expenses?There are two types of expenses:FIXED COSTSandVARIABLE COSTS

Fixed CostsRent paymentsSalaried employeesCapital Investments and (some) maintenanceUtilities (phone, water, electric, etc)InsuranceTaxes (on property, plant, and equipment)Advertising (*)Others things that do not depend on number of units produced.

Variable CostsMaterials CostSuppliesProduction WagesOutside / Contracted laborAdvertising (*)Sales Commissions / Distribution CostsEquipment MaintenanceOther things that depend on the number of units produced (e.g. royalties paid)

Putting it all togetherSo, placing the revenues at the top and the expenses below you get the following three month cash flow statement for a hypothetical startup:

Cash Flow (cont.)Receipts is the sum of all the firms sales and interest it collected that monthGross Margin is the Receipts minus the COGSTotal Fixed Costs is the sum of all the fixed costsMonthly Cash flow is the Gross Margin minus the Total Fixed Costs

Simple ExampleIf a company has sales of $500/mo, COGS of $200/mo, pays $50/mo in salary, and has no other fixed costs, what is that firms three month cash flow statement?

Whats Missing?Cumulative Cash Flow numbersTaxes ( and accumulated depreciation)Net Earnings

Cumulative Cash Flow - Cash BalanceJust like the average person keeps their checking account balance a firm also needs to know their cumulative cash flow or cash balance.It is an easy calculation simply take the cumulative cash flow from this month and add it to the previous months cash balance. Your very first months cumulative cash balance is your first months monthly cash flow added to your start-up capital (probably an initial loan or first round financing).

EBI. what?THE CHAIN OF EARNINGSEBIDT (Earnings Before Interest, Depreciation and Tax)

EBIT (Earnings Before Interest and Tax)

EBI

TOTAL EARNINGS( - accrued depreciation)( - taxes paid once a year)( - interest payments on your debt)

EBIDTYour EBIDT (Earnings Before Interest Depreciation and Tax) is Total Revenues All Costs that are not depreciable

Calculating DepreciationContinue depreciation on items purchased in earlier years, using previously established methodsSum up all of that fiscal years capital expensesDecide which method of Depreciation your firm wants to use (Straight Line or Accelerated)Determine the useful lifetime for the assetsDetermine the salvage valueUse the formulas to calculate depreciation on new equipmentAdd up all depreciation contributions

NOTE: while EBIDT may be a monthly figure since taxes and depreciation are only calculated once a year EBIT, EBI, and net earnings MUST be Year-End numbers.

Calculating TaxesTake the EBIDT and subtract the depreciation this yields Earnings Before Interest and TaxThen calculate profit (or earnings) before taxes by subtracting interest expenses.Then multiply the profit before taxes by your effective tax rate that will give the corporate income taxes the firm owes.

Final Cash Flow Statement

Cash Flow Spreadsheet

Cash Flow of Widget Start-Up Company, FY2001

Assumptions

LOAN 1-0085,000

Annual Interest Rate for loan8%

Annual Interest Rate for company invested funds5%

Life Cycle of Equipment10

Salvage Value of Equipment5000

Commission for Sales Staff (as % of total sales)10%

Effective Annual Tax Rate45%

Jan-00Feb-00Mar-00Apr-00May-00Jun-00Jul-00Aug-00Sep-00Oct-00Nov-00Dec-00

REVENUES (inflow)

SALES$0.00$0.00$1,000.00$1,500.00$4,000.00$7,000.00$11,000.00$16,000.00$22,000.00$28,000.00$35,000.00$46,000.00

INTEREST$239.27$167.04$98.05$30.54$13.27$6.55$13.98$39.14$85.66$153.62$246.65

RECEIPTS$0.00$239.27$1,167.04$1,598.05$4,030.54$7,013.27$11,006.55$16,013.98$22,039.14$28,085.66$35,153.62$46,246.65

EXPENDITURES (outflow)

MATERIALS COST AND MFG. LABOR$0.00$0.00$50.00$75.00$200.00$350.00$550.00$800.00$1,100.00$1,400.00$1,750.00$2,300.00

SALES COMMISSIONS$0.00$0.00$100.00$150.00$400.00$700.00$1,100.00$1,600.00$2,200.00$2,800.00$3,500.00$4,600.00

COST OF GOODS SOLD (COGS)$0.00$0.00$150.00$225.00$600.00$1,050.00$1,650.00$2,400.00$3,300.00$4,200.00$5,250.00$6,900.00

GROSS MARGIN$0.00$239.27$1,017.04$1,373.05$3,430.54$5,963.27$9,356.55$13,613.98$18,739.14$23,885.66$29,903.62$39,346.65

SALARY AND BENEFITS OF CEO$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00

SALARY AND BENEFITS OF ASSISTANT$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

RENT$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00

TELEPHONE AND OTHER$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00

ADVERTISING$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

EQUIPMENT$20,000.00$10,000.00$10,000.00$10,000.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

TOTAL FIXED COSTS$27,575.00$17,575.00$17,575.00$17,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00

MONTHLY CASH FLOW($27,575.00)($17,335.73)($16,557.96)($16,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

ENDING CASH BALANCE$57,425.00$40,089.27$23,531.31$7,329.36$3,184.90$1,573.17$3,354.72$9,393.70$20,557.84$36,868.50$59,197.12$90,968.77

EBIDT* PROFITS($7,575.00)($7,335.73)($6,557.96)($6,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

CUMULATIVE EBIDT* PROFITS($7,575.00)($14,910.73)($21,468.69)($27,670.64)($31,815.10)($33,426.83)($31,645.28)($25,606.30)($14,442.16)$1,868.50$24,197.12$55,968.77

Depreciation Expense for Tax Purposes$4,500.00

EBIT Profits$51,468.77

Taxes$23,160.95

EBI Profits$28,307.82

NET EARNINGS FOR YEAR (PROFIT AFTER TAX)$21,507.82

* - EBITD denotes Earnings Before Interest, Depreciation, and Taxes.

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This amount is 5% of the projected sales for this month:

5% * B7

This amount is 5% of the projected sales for this month:

5% * C7

This amount is 5% of the projected sales for this month:

5% * D7

This amount is 5% of the projected sales for this month:

5% * E7

This amount is 5% of the projected sales for this month:

5% * F7

This amount is 5% of the projected sales for this month:

5% * G7

This amount is 5% of the projected sales for this month:

5% * H7

This amount is 5% of the projected sales for this month:

5% * I7

This amount is 5% of the projected sales for this month:

5% * J7

This amount is 5% of the projected sales for this month:

5% * K7

This amount is 5% of the projected sales for this month:

5% * L7

This amount is 5% of the projected sales for this month:

5% * M7

Input the amount you would like to borrow to start your company.

Input the annual interest rate that you will earn on funds that your company keeps in the bank

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Sales Commissions costs are 10% of the projectes dales

10% * B8

Sales Commissions costs are 10% of the projectes dales

10% * C8

Sales Commissions costs are 10% of the projectes dales

10% * D8

Sales Commissions costs are 10% of the projectes dales

10% * E8

Sales Commissions costs are 10% of the projectes dales

10% * F8

Sales Commissions costs are 10% of the projectes dales

10% * G8

Sales Commissions costs are 10% of the projectes dales

10% * H8

Sales Commissions costs are 10% of the projectes dales

10% * I8

Sales Commissions costs are 10% of the projectes dales

10% * J8

Sales Commissions costs are 10% of the projectes dales

10% * K8

Sales Commissions costs are 10% of the projectes dales

10% * L8

Sales Commissions costs are 10% of the projectes dales

10% * M8

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

GROSS MARGIN is the Total Revenues minus CGS;

B9-B14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

D9-D14

GROSS MARGIN is the Total Revenues minus CGS;

F9-F14

GROSS MARGIN is the Total Revenues minus CGS;

G9-G14

GROSS MARGIN is the Total Revenues minus CGS;

H9-H14

GROSS MARGIN is the Total Revenues minus CGS;

I9-I14

GROSS MARGIN is the Total Revenues minus CGS;

J9-J14

GROSS MARGIN is the Total Revenues minus CGS;

K9-K14

GROSS MARGIN is the Total Revenues minus CGS;

L9-L14

GROSS MARGIN is the Total Revenues minus CGS;

M9-M14

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(B18:B23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(C18:C23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(D18:D23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(E18:E23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(F18:F23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(G18:G23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(H18:H23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(I18:I23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(J18:J23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(K18:K23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(L18:L23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(M18:M23)

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

ENDING CASH BALANCE is the sum of the TOTAL CASH FLOW with your loan - you can think of this as your "checking account balance".

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

NOTE - This month we payed out taxes as well.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

INPUT lifecycle of equipment for depreciation purposes.

Input the effective annual tax rate.

This is the amount you can deduct from your earnings when calculating taxes.

Corporate Taxes

Inupt the annual interest rate the loan was issued at.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

Balance Sheet

Balance Sheet of Widget Start-Up Company, FYE2001

ASSETSFYE 2001FYE 2000

Current Assets

Cash on Hand$90,968.77$85,000.00

Accounts Receivable0.00.0

Inventory0.00.0

Prepaid Expenses0.00.0

Total Current Assets$90,968.77$85,000.00

Property / Plant / Equipment$50,000.00$0.00

less depreciation$4,500.00

Other Assets0.00.0

TOTAL ASSETS$136,468.77$85,000.00

LIABILITIESFYE 2001FYE 2000

Current Liabilities

Interest Payable$6,800.00

Short-term loans0.00.0

Accounts Payable0.00.0

Income Taxes Payable$23,160.950.0

Total Current Liabilities$29,960.950.0

Long Term Debt$85,000.00$85,000.00

TOTAL LIABILITIES$114,960.95$85,000.00

TOTAL EQUITY$21,507.820.0

LIABILITES PLUS EQUITY$136,468.77

less depreciation, as calculated by Straight Line Depreciation.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Income Statement

Income Statement of Widget Start-Up Company, FYE2001

Operating Information

Net Earnings$172,593.77

Expenses

Cost of Goods Sold$25,725.00

Total Salary/Benefits$60,000.00

Advertising$24,000.00

Rent$6,000.00

Other$900.00

EBIDT Profits$55,968.77

Depreciation$4,500.00

Taxes$23,160.95

AFTER TAX PROFIT$28,307.82

Accumulated Interest Expenses$6,800.00

Earnings After Accumulated Interest$21,507.82

Estimates

ESTIMATES

FIXED COSTSALARY$3,000PER MONTH

RENT500PER MONTH

ASSISTANT2000PER MONTH

TELEPHONE75PER MONTH

PROMOTIONS2000PER MONTH

FURNITURE50000($20000-FIRST MONTH, $10000 NEXT THREE MONTHS)

SALES ESTIMATES

Jul-99Aug-99Sep-99Oct-99Nov-99Dec-99Jan-00Feb-00Mar-00Apr-00May-00Jun-00

SALES001000150040007000110001600022000280003500046000

COST OF SALES = 5% OF SALES

SALES COMMISSION =10% OF SALES

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Blank Cash Flow Sheet

CASH FLOW

LOAN 6-9980000

Jul-99Aug-99Sep-99Oct-99Nov-99Dec-99Jan-00Feb-00Mar-00Apr-00May-00Jun-00

INFLOW

SALES001000150040007000110001600022000280003500046000

INTEREST

RECEIPTS0

OUTFLOW

SUPPLIES0

SALES COMMIS.0

COST OF SALES0

OP. CASH FLOW0

SALARY3000

RENT500

ASSISTANT2000

TELEPHONE75

PROMOTIONS2000

FURNITURE20000

FIXED COSTS27575100100100100

TOT. CASH FLOW-27575$316.99

CASH BALANCE52425

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Income StatementIncome Statement compares the profitability of the firm to prior yearsTotal (yearly) revenues minus total (yearly) expenditures

Cash Flow Spreadsheet

Cash Flow of Widget Start-Up Company, FY2001

Assumptions

LOAN 1-0085,000

Annual Interest Rate for loan8%

Annual Interest Rate for company invested funds5%

Life Cycle of Equipment10

Salvage Value of Equipment5000

Commission for Sales Staff (as % of total sales)10%

Effective Annual Tax Rate45%

Jan-00Feb-00Mar-00Apr-00May-00Jun-00Jul-00Aug-00Sep-00Oct-00Nov-00Dec-00

REVENUES (inflow)

SALES$0.00$0.00$1,000.00$1,500.00$4,000.00$7,000.00$11,000.00$16,000.00$22,000.00$28,000.00$35,000.00$46,000.00

INTEREST$239.27$167.04$98.05$30.54$13.27$6.55$13.98$39.14$85.66$153.62$246.65

RECEIPTS$0.00$239.27$1,167.04$1,598.05$4,030.54$7,013.27$11,006.55$16,013.98$22,039.14$28,085.66$35,153.62$46,246.65

EXPENDITURES (outflow)

MATERIALS COST AND MFG. LABOR$0.00$0.00$50.00$75.00$200.00$350.00$550.00$800.00$1,100.00$1,400.00$1,750.00$2,300.00

SALES COMMISSIONS$0.00$0.00$100.00$150.00$400.00$700.00$1,100.00$1,600.00$2,200.00$2,800.00$3,500.00$4,600.00

COST OF GOODS SOLD (COGS)$0.00$0.00$150.00$225.00$600.00$1,050.00$1,650.00$2,400.00$3,300.00$4,200.00$5,250.00$6,900.00

GROSS MARGIN$0.00$239.27$1,017.04$1,373.05$3,430.54$5,963.27$9,356.55$13,613.98$18,739.14$23,885.66$29,903.62$39,346.65

SALARY AND BENEFITS OF CEO$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00

SALARY AND BENEFITS OF ASSISTANT$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

RENT$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00

TELEPHONE AND OTHER$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00

ADVERTISING$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

EQUIPMENT$20,000.00$10,000.00$10,000.00$10,000.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

TOTAL FIXED COSTS$27,575.00$17,575.00$17,575.00$17,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00

MONTHLY CASH FLOW($27,575.00)($17,335.73)($16,557.96)($16,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

ENDING CASH BALANCE$57,425.00$40,089.27$23,531.31$7,329.36$3,184.90$1,573.17$3,354.72$9,393.70$20,557.84$36,868.50$59,197.12$90,968.77

EBIDT* PROFITS($7,575.00)($7,335.73)($6,557.96)($6,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

CUMULATIVE EBIDT* PROFITS($7,575.00)($14,910.73)($21,468.69)($27,670.64)($31,815.10)($33,426.83)($31,645.28)($25,606.30)($14,442.16)$1,868.50$24,197.12$55,968.77

Depreciation Expense for Tax Purposes$4,500.00

EBIT Profits$51,468.77

Taxes$23,160.95

EBI Profits$28,307.82

NET EARNINGS FOR YEAR (PROFIT AFTER TAX)$21,507.82

* - EBITD denotes Earnings Before Interest, Depreciation, and Taxes.

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This amount is 5% of the projected sales for this month:

5% * B7

This amount is 5% of the projected sales for this month:

5% * C7

This amount is 5% of the projected sales for this month:

5% * D7

This amount is 5% of the projected sales for this month:

5% * E7

This amount is 5% of the projected sales for this month:

5% * F7

This amount is 5% of the projected sales for this month:

5% * G7

This amount is 5% of the projected sales for this month:

5% * H7

This amount is 5% of the projected sales for this month:

5% * I7

This amount is 5% of the projected sales for this month:

5% * J7

This amount is 5% of the projected sales for this month:

5% * K7

This amount is 5% of the projected sales for this month:

5% * L7

This amount is 5% of the projected sales for this month:

5% * M7

Input the amount you would like to borrow to start your company.

Input the annual interest rate that you will earn on funds that your company keeps in the bank

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Sales Commissions costs are 10% of the projectes dales

10% * B8

Sales Commissions costs are 10% of the projectes dales

10% * C8

Sales Commissions costs are 10% of the projectes dales

10% * D8

Sales Commissions costs are 10% of the projectes dales

10% * E8

Sales Commissions costs are 10% of the projectes dales

10% * F8

Sales Commissions costs are 10% of the projectes dales

10% * G8

Sales Commissions costs are 10% of the projectes dales

10% * H8

Sales Commissions costs are 10% of the projectes dales

10% * I8

Sales Commissions costs are 10% of the projectes dales

10% * J8

Sales Commissions costs are 10% of the projectes dales

10% * K8

Sales Commissions costs are 10% of the projectes dales

10% * L8

Sales Commissions costs are 10% of the projectes dales

10% * M8

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

GROSS MARGIN is the Total Revenues minus CGS;

B9-B14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

D9-D14

GROSS MARGIN is the Total Revenues minus CGS;

F9-F14

GROSS MARGIN is the Total Revenues minus CGS;

G9-G14

GROSS MARGIN is the Total Revenues minus CGS;

H9-H14

GROSS MARGIN is the Total Revenues minus CGS;

I9-I14

GROSS MARGIN is the Total Revenues minus CGS;

J9-J14

GROSS MARGIN is the Total Revenues minus CGS;

K9-K14

GROSS MARGIN is the Total Revenues minus CGS;

L9-L14

GROSS MARGIN is the Total Revenues minus CGS;

M9-M14

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(B18:B23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(C18:C23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(D18:D23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(E18:E23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(F18:F23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(G18:G23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(H18:H23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(I18:I23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(J18:J23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(K18:K23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(L18:L23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(M18:M23)

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

ENDING CASH BALANCE is the sum of the TOTAL CASH FLOW with your loan - you can think of this as your "checking account balance".

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

NOTE - This month we payed out taxes as well.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

INPUT lifecycle of equipment for depreciation purposes.

Input the effective annual tax rate.

This is the amount you can deduct from your earnings when calculating taxes.

Corporate Taxes

Inupt the annual interest rate the loan was issued at.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

Balance Sheet

Balance Sheet of Widget Start-Up Company, FYE2001

ASSETSFYE 2001FYE 2000

Current Assets

Cash on Hand$90,968.77$85,000.00

Accounts Receivable0.00.0

Inventory0.00.0

Prepaid Expenses0.00.0

Total Current Assets$90,968.77$85,000.00

Property / Plant / Equipment$50,000.00$0.00

less depreciation$4,500.00

Other Assets0.00.0

TOTAL ASSETS$136,468.77$85,000.00

LIABILITIESFYE 2001FYE 2000

Current Liabilities

Interest Payable$6,800.00

Short-term loans0.00.0

Accounts Payable0.00.0

Income Taxes Payable$23,160.950.0

Total Current Liabilities$29,960.950.0

Long Term Debt$85,000.00$85,000.00

TOTAL LIABILITIES$114,960.95$85,000.00

TOTAL EQUITY$21,507.820.0

LIABILITES PLUS EQUITY$136,468.77

less depreciation, as calculated by Straight Line Depreciation.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Income Statement

Income Statement of Widget Start-Up Company, FYE2001

Operating Information

Net Earnings$172,593.77

Expenses

Cost of Goods Sold$25,725.00

Total Salary/Benefits$60,000.00

Advertising$24,000.00

Rent$6,000.00

Other$900.00

EBIDT Profits$55,968.77

Depreciation$4,500.00

Taxes$23,160.95

AFTER TAX PROFIT$28,307.82

Accumulated Interest Expenses$6,800.00

Earnings After Accumulated Interest$21,507.82

Estimates

ESTIMATES

FIXED COSTSALARY$3,000PER MONTH

RENT500PER MONTH

ASSISTANT2000PER MONTH

TELEPHONE75PER MONTH

PROMOTIONS2000PER MONTH

FURNITURE50000($20000-FIRST MONTH, $10000 NEXT THREE MONTHS)

SALES ESTIMATES

Jul-99Aug-99Sep-99Oct-99Nov-99Dec-99Jan-00Feb-00Mar-00Apr-00May-00Jun-00

SALES001000150040007000110001600022000280003500046000

COST OF SALES = 5% OF SALES

SALES COMMISSION =10% OF SALES

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Blank Cash Flow Sheet

CASH FLOW

LOAN 6-9980000

Jul-99Aug-99Sep-99Oct-99Nov-99Dec-99Jan-00Feb-00Mar-00Apr-00May-00Jun-00

INFLOW

SALES001000150040007000110001600022000280003500046000

INTEREST

RECEIPTS0

OUTFLOW

SUPPLIES0

SALES COMMIS.0

COST OF SALES0

OP. CASH FLOW0

SALARY3000

RENT500

ASSISTANT2000

TELEPHONE75

PROMOTIONS2000

FURNITURE20000

FIXED COSTS27575100100100100

TOT. CASH FLOW-27575$316.99

CASH BALANCE52425

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Cash Flow versus Income StatementsNote that the final Net Earnings number for both the final month of the cash flow statement is exactly the same as the year-end Net Earnings total for the Income Statement, reflecting the same time period

Cash Flow Spreadsheet

Cash Flow of Widget Start-Up Company, FY2001

Assumptions

LOAN 1-0085,000

Annual Interest Rate for loan8%

Annual Interest Rate for company invested funds5%

Life Cycle of Equipment10

Salvage Value of Equipment5000

Commission for Sales Staff (as % of total sales)10%

Effective Annual Tax Rate45%

Jan-00Feb-00Mar-00Apr-00May-00Jun-00Jul-00Aug-00Sep-00Oct-00Nov-00Dec-00

REVENUES (inflow)

SALES$0.00$0.00$1,000.00$1,500.00$4,000.00$7,000.00$11,000.00$16,000.00$22,000.00$28,000.00$35,000.00$46,000.00

INTEREST$239.27$167.04$98.05$30.54$13.27$6.55$13.98$39.14$85.66$153.62$246.65

RECEIPTS$0.00$239.27$1,167.04$1,598.05$4,030.54$7,013.27$11,006.55$16,013.98$22,039.14$28,085.66$35,153.62$46,246.65

EXPENDITURES (outflow)

MATERIALS COST AND MFG. LABOR$0.00$0.00$50.00$75.00$200.00$350.00$550.00$800.00$1,100.00$1,400.00$1,750.00$2,300.00

SALES COMMISSIONS$0.00$0.00$100.00$150.00$400.00$700.00$1,100.00$1,600.00$2,200.00$2,800.00$3,500.00$4,600.00

COST OF GOODS SOLD (COGS)$0.00$0.00$150.00$225.00$600.00$1,050.00$1,650.00$2,400.00$3,300.00$4,200.00$5,250.00$6,900.00

GROSS MARGIN$0.00$239.27$1,017.04$1,373.05$3,430.54$5,963.27$9,356.55$13,613.98$18,739.14$23,885.66$29,903.62$39,346.65

SALARY AND BENEFITS OF CEO$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00

SALARY AND BENEFITS OF ASSISTANT$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

RENT$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00

TELEPHONE AND OTHER$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00

ADVERTISING$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

EQUIPMENT$20,000.00$10,000.00$10,000.00$10,000.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

TOTAL FIXED COSTS$27,575.00$17,575.00$17,575.00$17,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00

MONTHLY CASH FLOW($27,575.00)($17,335.73)($16,557.96)($16,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

ENDING CASH BALANCE$57,425.00$40,089.27$23,531.31$7,329.36$3,184.90$1,573.17$3,354.72$9,393.70$20,557.84$36,868.50$59,197.12$90,968.77

EBIDT* PROFITS($7,575.00)($7,335.73)($6,557.96)($6,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

CUMULATIVE EBIDT* PROFITS($7,575.00)($14,910.73)($21,468.69)($27,670.64)($31,815.10)($33,426.83)($31,645.28)($25,606.30)($14,442.16)$1,868.50$24,197.12$55,968.77

Depreciation Expense for Tax Purposes$4,500.00

EBIT Profits$51,468.77

Taxes$23,160.95

EBI Profits$28,307.82

NET EARNINGS FOR YEAR (PROFIT AFTER TAX)$21,507.82

* - EBITD denotes Earnings Before Interest, Depreciation, and Taxes.

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This amount is 5% of the projected sales for this month:

5% * B7

This amount is 5% of the projected sales for this month:

5% * C7

This amount is 5% of the projected sales for this month:

5% * D7

This amount is 5% of the projected sales for this month:

5% * E7

This amount is 5% of the projected sales for this month:

5% * F7

This amount is 5% of the projected sales for this month:

5% * G7

This amount is 5% of the projected sales for this month:

5% * H7

This amount is 5% of the projected sales for this month:

5% * I7

This amount is 5% of the projected sales for this month:

5% * J7

This amount is 5% of the projected sales for this month:

5% * K7

This amount is 5% of the projected sales for this month:

5% * L7

This amount is 5% of the projected sales for this month:

5% * M7

Input the amount you would like to borrow to start your company.

Input the annual interest rate that you will earn on funds that your company keeps in the bank

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Sales Commissions costs are 10% of the projectes dales

10% * B8

Sales Commissions costs are 10% of the projectes dales

10% * C8

Sales Commissions costs are 10% of the projectes dales

10% * D8

Sales Commissions costs are 10% of the projectes dales

10% * E8

Sales Commissions costs are 10% of the projectes dales

10% * F8

Sales Commissions costs are 10% of the projectes dales

10% * G8

Sales Commissions costs are 10% of the projectes dales

10% * H8

Sales Commissions costs are 10% of the projectes dales

10% * I8

Sales Commissions costs are 10% of the projectes dales

10% * J8

Sales Commissions costs are 10% of the projectes dales

10% * K8

Sales Commissions costs are 10% of the projectes dales

10% * L8

Sales Commissions costs are 10% of the projectes dales

10% * M8

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

GROSS MARGIN is the Total Revenues minus CGS;

B9-B14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

D9-D14

GROSS MARGIN is the Total Revenues minus CGS;

F9-F14

GROSS MARGIN is the Total Revenues minus CGS;

G9-G14

GROSS MARGIN is the Total Revenues minus CGS;

H9-H14

GROSS MARGIN is the Total Revenues minus CGS;

I9-I14

GROSS MARGIN is the Total Revenues minus CGS;

J9-J14

GROSS MARGIN is the Total Revenues minus CGS;

K9-K14

GROSS MARGIN is the Total Revenues minus CGS;

L9-L14

GROSS MARGIN is the Total Revenues minus CGS;

M9-M14

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on salary

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on rent

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on an assistant

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay this month on telephone expenses

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on planned promotions and raises.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

Input the amount you expect to pay on office supplies and furniture.

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(B18:B23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(C18:C23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(D18:D23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(E18:E23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(F18:F23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(G18:G23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(H18:H23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(I18:I23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(J18:J23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(K18:K23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(L18:L23)

This is the sum of "Salary", "Rent", "Assistant", "Telephone", "Promotions", and "Furniture.

=sum(M18:M23)

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

ENDING CASH BALANCE is the sum of the TOTAL CASH FLOW with your loan - you can think of this as your "checking account balance".

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

ENDING CASH BALANCE, the Cash Flow from this month added to last month's balance

NOTE - This month we payed out taxes as well.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

RECEIPTS are the sum of the sales and interest income.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

Interest - this is found by taking the effective monthly interest rate and using the previous month's cash balance.

Interest = Previous Balance * Monthly rate.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

INPUT lifecycle of equipment for depreciation purposes.

Input the effective annual tax rate.

This is the amount you can deduct from your earnings when calculating taxes.

Corporate Taxes

Inupt the annual interest rate the loan was issued at.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

This is how much money the company took in net of all expenses (including equipment) for that month.

EBIDT Profits are the company's profits BEFORE taxes are taken out ... but do not include the Equipment expenses.

Balance Sheet

Balance Sheet of Widget Start-Up Company, FYE2001

ASSETSFYE 2001FYE 2000

Current Assets

Cash on Hand$90,968.77$85,000.00

Accounts Receivable0.00.0

Inventory0.00.0

Prepaid Expenses0.00.0

Total Current Assets$90,968.77$85,000.00

Property / Plant / Equipment$50,000.00$0.00

less depreciation$4,500.00

Other Assets0.00.0

TOTAL ASSETS$136,468.77$85,000.00

LIABILITIESFYE 2001FYE 2000

Current Liabilities

Interest Payable$6,800.00

Short-term loans0.00.0

Accounts Payable0.00.0

Income Taxes Payable$23,160.950.0

Total Current Liabilities$29,960.950.0

Long Term Debt$85,000.00$85,000.00

TOTAL LIABILITIES$114,960.95$85,000.00

TOTAL EQUITY$21,507.820.0

LIABILITES PLUS EQUITY$136,468.77

less depreciation, as calculated by Straight Line Depreciation.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Usually not zero, but taken as zero for simplicity.

Income Statement

Income Statement of Widget Start-Up Company, FYE2001

Operating Information

Net Earnings$172,593.77

Expenses

Cost of Goods Sold$25,725.00

Total Salary/Benefits$60,000.00

Advertising$24,000.00

Rent$6,000.00

Other$900.00

EBIDT Profits$55,968.77

Depreciation$4,500.00

Taxes$23,160.95

AFTER TAX PROFIT$28,307.82

Accumulated Interest Expenses$6,800.00

Earnings After Accumulated Interest$21,507.82

Estimates

ESTIMATES

FIXED COSTSALARY$3,000PER MONTH

RENT500PER MONTH

ASSISTANT2000PER MONTH

TELEPHONE75PER MONTH

PROMOTIONS2000PER MONTH

FURNITURE50000($20000-FIRST MONTH, $10000 NEXT THREE MONTHS)

SALES ESTIMATES

Jul-99Aug-99Sep-99Oct-99Nov-99Dec-99Jan-00Feb-00Mar-00Apr-00May-00Jun-00

SALES001000150040007000110001600022000280003500046000

COST OF SALES = 5% OF SALES

SALES COMMISSION =10% OF SALES

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Blank Cash Flow Sheet

CASH FLOW

LOAN 6-9980000

Jul-99Aug-99Sep-99Oct-99Nov-99Dec-99Jan-00Feb-00Mar-00Apr-00May-00Jun-00

INFLOW

SALES001000150040007000110001600022000280003500046000

INTEREST

RECEIPTS0

OUTFLOW

SUPPLIES0

SALES COMMIS.0

COST OF SALES0

OP. CASH FLOW0

SALARY3000

RENT500

ASSISTANT2000

TELEPHONE75

PROMOTIONS2000

FURNITURE20000

FIXED COSTS27575100100100100

TOT. CASH FLOW-27575$316.99

CASH BALANCE52425

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Cash Flow Spreadsheet

Cash Flow of Widget Start-Up Company, FY2001

Assumptions

LOAN 1-0085,000

Annual Interest Rate for loan8%

Annual Interest Rate for company invested funds5%

Life Cycle of Equipment10

Salvage Value of Equipment5000

Commission for Sales Staff (as % of total sales)10%

Effective Annual Tax Rate45%

Jan-00Feb-00Mar-00Apr-00May-00Jun-00Jul-00Aug-00Sep-00Oct-00Nov-00Dec-00

REVENUES (inflow)

SALES$0.00$0.00$1,000.00$1,500.00$4,000.00$7,000.00$11,000.00$16,000.00$22,000.00$28,000.00$35,000.00$46,000.00

INTEREST$239.27$167.04$98.05$30.54$13.27$6.55$13.98$39.14$85.66$153.62$246.65

RECEIPTS$0.00$239.27$1,167.04$1,598.05$4,030.54$7,013.27$11,006.55$16,013.98$22,039.14$28,085.66$35,153.62$46,246.65

EXPENDITURES (outflow)

MATERIALS COST AND MFG. LABOR$0.00$0.00$50.00$75.00$200.00$350.00$550.00$800.00$1,100.00$1,400.00$1,750.00$2,300.00

SALES COMMISSIONS$0.00$0.00$100.00$150.00$400.00$700.00$1,100.00$1,600.00$2,200.00$2,800.00$3,500.00$4,600.00

COST OF GOODS SOLD (COGS)$0.00$0.00$150.00$225.00$600.00$1,050.00$1,650.00$2,400.00$3,300.00$4,200.00$5,250.00$6,900.00

GROSS MARGIN$0.00$239.27$1,017.04$1,373.05$3,430.54$5,963.27$9,356.55$13,613.98$18,739.14$23,885.66$29,903.62$39,346.65

SALARY AND BENEFITS OF CEO$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00$3,000.00

SALARY AND BENEFITS OF ASSISTANT$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

RENT$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00$500.00

TELEPHONE AND OTHER$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00$75.00

ADVERTISING$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00$2,000.00

EQUIPMENT$20,000.00$10,000.00$10,000.00$10,000.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

TOTAL FIXED COSTS$27,575.00$17,575.00$17,575.00$17,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00$7,575.00

MONTHLY CASH FLOW($27,575.00)($17,335.73)($16,557.96)($16,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

ENDING CASH BALANCE$57,425.00$40,089.27$23,531.31$7,329.36$3,184.90$1,573.17$3,354.72$9,393.70$20,557.84$36,868.50$59,197.12$90,968.77

EBIDT* PROFITS($7,575.00)($7,335.73)($6,557.96)($6,201.95)($4,144.46)($1,611.73)$1,781.55$6,038.98$11,164.14$16,310.66$22,328.62$31,771.65

CUMULATIVE EBIDT* PROFITS($7,575.00)($14,910.73)($21,468.69)($27,670.64)($31,815.10)($33,426.83)($31,645.28)($25,606.30)($14,442.16)$1,868.50$24,197.12$55,968.77

Depreciation Expense for Tax Purposes$4,500.00

EBIT Profits$51,468.77

Taxes$23,160.95

EBI Profits$28,307.82

NET EARNINGS FOR YEAR (PROFIT AFTER TAX)$21,507.82

* - EBITD denotes Earnings Before Interest, Depreciation, and Taxes.

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This amount is 5% of the projected sales for this month:

5% * B7

This amount is 5% of the projected sales for this month:

5% * C7

This amount is 5% of the projected sales for this month:

5% * D7

This amount is 5% of the projected sales for this month:

5% * E7

This amount is 5% of the projected sales for this month:

5% * F7

This amount is 5% of the projected sales for this month:

5% * G7

This amount is 5% of the projected sales for this month:

5% * H7

This amount is 5% of the projected sales for this month:

5% * I7

This amount is 5% of the projected sales for this month:

5% * J7

This amount is 5% of the projected sales for this month:

5% * K7

This amount is 5% of the projected sales for this month:

5% * L7

This amount is 5% of the projected sales for this month:

5% * M7

Input the amount you would like to borrow to start your company.

Input the annual interest rate that you will earn on funds that your company keeps in the bank

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Input the amount of sales you are PROJECTING for this month.

Sales Commissions costs are 10% of the projectes dales

10% * B8

Sales Commissions costs are 10% of the projectes dales

10% * C8

Sales Commissions costs are 10% of the projectes dales

10% * D8

Sales Commissions costs are 10% of the projectes dales

10% * E8

Sales Commissions costs are 10% of the projectes dales

10% * F8

Sales Commissions costs are 10% of the projectes dales

10% * G8

Sales Commissions costs are 10% of the projectes dales

10% * H8

Sales Commissions costs are 10% of the projectes dales

10% * I8

Sales Commissions costs are 10% of the projectes dales

10% * J8

Sales Commissions costs are 10% of the projectes dales

10% * K8

Sales Commissions costs are 10% of the projectes dales

10% * L8

Sales Commissions costs are 10% of the projectes dales

10% * M8

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

CGS is the sum of all the variable costs;

Materials Cost + Sales Commissions

GROSS MARGIN is the Total Revenues minus CGS;

B9-B14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

C9-C14

GROSS MARGIN is the Total Revenues minus CGS;

D9-D14

GROSS MARGIN is the Total Revenues minus CGS;

F9-F14

GROSS MARGIN is the Total Revenues minus CGS;

G9-G14

GROSS MARGIN is the Total Revenues minus CGS;

H9-H14

GROSS MARGIN is the Total Revenues minus CGS;

I9-I14

GROSS MARGIN is the Total Revenues minus CGS;

J9-J14

GROSS MARGIN is the Total Revenues minus CGS;

K9-K14

GROSS MARGIN is the Total Revenues minus CGS;

L9-L14

GROSS MARGIN is the Total Revenues minus CGS;

M9-M14

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