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Financial Projection Model
This spreadsheet walks you through the process of developing an integrated set of financial projections.
To use this model, simply complete any information asked for found in the color yellow.
Example: Fill in boxes that look like this -
A number found in the color green is optional information that you can complete.
Example: Check these assumptions -
Otherwise, any information found in black type is automatically calculated for you.
Although the cells that are calculated are locked (or protected), you can turn off this protection to modify the sheets.
To do this, select "Tools" from the menu bar at the top of the screen. Then select, "Protection."
Finally, select "Unprotect Sheet" and you will be able to edit any labels or formulas.
Before you begin, we need some information about your business to best customize your financial statements.
Please enter the name of your business in the box below:
TakeCharge, Inc.
The first six worksheets in this workbook are steps you will need to complete. They are titled:
1. Required Start-Up Funds
2. Salaries and Wages
3. Fixed Operating Expenses
4. Projected Sales Forecast (2 sheets)
5. Cash Receipts and Disbursements
The sixth step titled, "Beginning Balance Sheet" is for existing businesses only.
Begin by clicking on the tabs below
TakeCharge, Inc. 9-Apr-14
Required Start-Up Funds
Required Start-Up Funds Amount Totals Depreciation Notes
Fixed Assets
Real Estate 3,000
Buildings - 20.00 years
Leasehold Improvements 2,000 7.00 years
Equipment 2,500 7.00 years
Furniture and Fixtures 3,000 5.00 years
Vehicles 25,000 5.00 years
Other Fixed Assets 2,000 5.00 years
Total Fixed Assets 37,500
Operating Capital
Pre-Opening Salaries and Wages 5,500
Prepaid Insurance Premiums 1,100
Beginning Inventory 1,000
Legal and Accounting Fees 600
Rent Deposits 5,000
Utility Deposits 233
Supplies 550
Advertising and Promotions 1,000
Licenses 10
Other Initial Start-Up Costs 6,700
Working Capital (Cash On Hand) 50,000
Total Operating Capital 71,693
Total Required Funds 109,193$
Sources of Funding Amount Totals Loan Rate Term in Months Monthly Payments
Owner's Cash Injection 27.47% 30,000
Outside Investors 54.95% 60,000
Additional Loans or Debt
Commercial Loan 15.38% 16,793 9.00% 84.00 $270.18
Commercial Mortgage 2.20% 2,400 9.00% 240.00 $21.59
Total Sources of Funding 100.00% 109,193$ $291.78
A line of credit is also required in the amount of 4,047$
TakeCharge, Inc. 9-Apr-14
Salaries and Wages
Salaries and Related Expenses # Assumptions Wage Base Monthly Year One Year Two Year Three
Percent Change 20.00% 10.00%
Salaries and Wages
Owner's Compensation 6 6,000$ 72,000 86,400 95,040
Salaries 2 1PT yr2, 1FT yr3 2,500 30,000 30,000 66,000
Wages
Full-Time Employees 10 1-yr2, 2-yr3 43,333 520,000 52,000 114,400
Estimated Hours Per Week 40.00
Estimated Rate Per Hour 25.00$
Part-Time Employees 5 10,833 130,000 156,000 171,600
Estimated Hours Per Week 20.00
Estimated Rate Per Hour 25.00$
Independent Contractors - - - -
Total Salaries and Wages 23 62,667 752,000 324,400 447,040
Payroll Taxes and Benefits
Social Security 6.20% 102,000$ 3,885 46,624 20,113 27,716
Medicare 1.45% 909 10,904 4,704 6,482
Federal Unemployment Tax (FUTA) 0.80% 7,000$ 107 1,288 1,288 1,288
State Unemployment Tax (SUTA) 2.70% 7,000$ 362 4,347 4,347 4,347
Employee Pension Programs 0.00% - - - -
Worker's Compensation 3.00% 1,880 22,560 27,072 29,779
Employee Health Insurance 0.00% - - - -
Other Employee Benefit Programs 0.00% - - - -
Total Payroll Taxes and Benefits 7,144 85,723 57,524 69,613
Total Salaries and Related Expenses 69,810 837,723 381,924 516,653
TakeCharge, Inc. 9-Apr-14
Fixed Operating Expenses
Fixed Operating Expenses Monthly Year One Year Two Year Three Notes
Percent Change 3.00% 3.00%
Expenses
Advertising 250$ 3,000 3,090 3,183
Car and Truck Expenses 700 8,400 17,304 17,823
Commissions and Fees - - - -
Contract Labor 200 2,400 2,472 2,546
Credit Card and Bank Charges - - - -
Customer Discounts and Refunds 150 1,800 1,854 1,910
Dues and Subscriptions - - - -
Entertainment - - - -
Insurance (Liability and Property) 1,100 13,200 13,596 14,004
Internet 100 1,200 1,236 1,273
Legal and Professional Fees 200 2,400 2,472 2,546
Office Expenses 50 600 618 637
Postage and Delivery 12 144 148 153
Rent (on business property) - - - -
Rent of Vehicles and Equipment 500 6,000 6,180 6,365
Repairs and Maintenance 200 2,400 2,472 2,546
Supplies 50 600 618 637
Telephone and Communications 233 2,796 2,880 2,966
Travel 200 2,400 2,472 2,546
Utilities - - - -
Total Expenses 3,945 47,340 57,412 59,135
Other Expenses
Depreciation 554 6,643 6,643 6,643
Interest
Commercial Loan 120 1,438 1,269 1,084
Commercial Mortgage 18 214 210 205
Line of Credit 28 334 - -
Total Other Expenses 719 8,629 8,122 7,932
Total Fixed Operating Expenses 4,664 55,969 65,534 67,067
TakeCharge, Inc. 9-Apr-14
Projected Sales Forecast
Products and Services Assumptions % Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Product/Service A - Billable Hrs.
Price Per Unit 68.00$ 100.00%
Variable Cost Per Unit 10.00$ 14.71%
Gross Margin Per Unit 58.00$ 85.29%
Projected Unit Sales
Seasonality Factor 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 100.00%
Year One 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000
Year Two Growth 150.00% 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 31,250 375,000
Year Three Growth 150.00% 78,125 78,125 78,125 78,125 78,125 78,125 78,125 78,125 78,125 78,125 78,125 78,125 937,500
Fixed Expense Allocation 50.00%
Projected Revenue 10,200,000$
Variable Costs 1,500,000
Gross Margin 8,700,000
Fixed Expenses 27,985
Profit 8,672,015 85.02%
Breakeven Sales Revenue 32,809.46$
Breakeven Sales Units 482
Product/Service B
Price Per Unit -$ 100.00%
Variable Cost Per Unit -$ 0.00%
Gross Margin Per Unit -$ 0.00%
Projected Unit Sales
Seasonality Factor 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Year One - - - - - - - - - - - - -
Year Two Growth 10.00% - - - - - - - - - - - - -
Year Three Growth 10.00% - - - - - - - - - - - - -
Fixed Expense Allocation 16.67%
Projected Revenue -$
Variable Costs -
Gross Margin -
Fixed Expenses 9,328
Profit (9,328) 0.00%
Breakeven Sales Revenue -$
Breakeven Sales Units -
TakeCharge, Inc. 9-Apr-14
Projected Sales Forecast - Page 2
Products and Services Assumptions % Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Product/Service C
Price Per Unit -$ 100.00%
Variable Cost Per Unit -$ 0.00%
Gross Margin Per Unit -$ 0.00%
Projected Unit Sales
Seasonality Factor 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Year One - - - - - - - - - - - - -
Year Two Growth 10.00% - - - - - - - - - - - - -
Year Three Growth 10.00% - - - - - - - - - - - - -
Fixed Expense Allocation 16.67%
Projected Revenue -$
Variable Costs -
Gross Margin -
Fixed Expenses 9,328
Profit (9,328) 0.00%
Breakeven Sales Revenue -$
Breakeven Sales Units -
Product/Service D
Price Per Unit -$ 100.00%
Variable Cost Per Unit -$ 0.00%
Gross Margin Per Unit -$ 0.00%
Projected Unit Sales
Seasonality Factor 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Year One - - - - - - - - - - - - -
Year Two Growth 10.00% - - - - - - - - - - - - -
Year Three Growth 10.00% - - - - - - - - - - - - -
Fixed Expense Allocation 16.67%
Projected Revenue -$
Variable Costs -
Gross Margin -
Fixed Expenses 9,328
Profit (9,328) 0.00%
Breakeven Sales Revenue -$
Breakeven Sales Units -
TakeCharge, Inc. 9-Apr-14
Cash Receipts and Disbursements
Accounts Receivable Collections
Percent of Collections
0 to 30 days 0.00%
31 to 60 days 25.00%
More than 60 days 75.00%
Total Collections Percentage 100.00%
Accounts Payable Disbursements
Number of Days to Pay Suppliers
0 to 30 days 0.00%
31 to 60 days 100.00%
More than 60 days 0.00%
Total Disbursements Percentage 100.00%
Line of Credit Assumptions
Desired Minimum Cash Balance 10,000.00$
Line of Credit Interest Rate 9.00%
Income Tax Assumptions
Effective Income Tax Rate 28.00%
4,664 389
Amortization of Start-Up Expenses 2,233 186
Amortization Period in Years 3.00 575
TakeCharge, Inc.
Balance Sheet (For Existing Businesses Only)
9/30/2009 %
Assets
Current Assets
Cash 30,000
Accounts Receivable -
Inventory 6,000
Prepaid Expenses -
Other Current -
Total Current Assets 36,000
Fixed Assets
Real Estate -
Buildings -
Leasehold Improvements -
Equipment 5,000
Furniture and Fixtures -
Vehicles 25,000
Other Fixed Assets -
Total Fixed Assets 30,000
Less: Accumulated Depreciation -
Total Assets 66,000
Liabilities and Owner's Equity
Liabilities
Accounts Payable -
Notes Payable -
Mortgage Payable -
Line of Credit Balance -
Total Liabilities -
Owner's Equity
Common Stock 66,000
Retained Earnings -
Dividends Dispersed -
Total Owner's Equity 66,000
Total Liabilities and Owner's Equity 66,000
Statement Balances
TakeCharge, Inc.
Projected Income Statement - Year One
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Income
Product/Service A - Billable Hrs. 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 10,200,000
Product/Service B - - - - - - - - - - - - -
-
-
Total Income 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 10,200,000
Cost of Sales
Product/Service A - Billable Hrs. 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 1,500,000
Product/Service B - - - - - - - - - - - - -
-
-
Total Cost of Sales 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 1,500,000
Gross Margin 725,000 725,000 725,000 725,000 725,000 725,000 725,000 725,000 725,000 725,000 725,000 725,000 8,700,000
Total Salary and Wages 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 837,723
Fixed Business Expenses
Advertising 250 250 250 250 250 250 250 250 250 250 250 250 3,000
Car and Truck Expenses 700 700 700 700 700 700 700 700 700 700 700 700 8,400
Commissions and Fees - - - - - - - - - - - - -
Contract Labor 200 200 200 200 200 200 200 200 200 200 200 200 2,400
Credit Card and Bank Charges - - - - - - - - - - - - -
Customer Discounts and Refunds 150 150 150 150 150 150 150 150 150 150 150 150 1,800
Dues and Subscriptions - - - - - - - - - - - - -
Entertainment - - - - - - - - - - - - -
Insurance (Liability and Property) 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 13,200
Internet 100 100 100 100 100 100 100 100 100 100 100 100 1,200
Legal and Professional Fees 200 200 200 200 200 200 200 200 200 200 200 200 2,400
Office Expenses 50 50 50 50 50 50 50 50 50 50 50 50 600
Postage and Delivery 12 12 12 12 12 12 12 12 12 12 12 12 144
Rent (on business property) - - - - - - - - - - - - -
Rent of Vehicles and Equipment 500 500 500 500 500 500 500 500 500 500 500 500 6,000
Repairs and Maintenance 200 200 200 200 200 200 200 200 200 200 200 200 2,400
Supplies 50 50 50 50 50 50 50 50 50 50 50 50 600
Telephone and Communications 233 233 233 233 233 233 233 233 233 233 233 233 2,796
Travel 200 200 200 200 200 200 200 200 200 200 200 200 2,400
Utilities - - - - - - - - - - - - -
Total Fixed Business Expenses 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 47,340
Total Other Expenses 183,426 183,447 183,446 183,445 183,444 183,443 183,443 183,442 183,441 183,440 183,439 183,438 2,201,293
Net Income 467,819 467,798 467,799 467,800 467,801 467,801 467,802 467,803 467,804 467,805 467,806 467,806 5,613,644
TakeCharge, Inc.
Projected Cash Flow Statement - Year One
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Beginning Cash Balance 80,000 10,000 23,423 127,902 778,824 1,429,747 1,534,232 2,185,154 2,836,077 2,940,559 3,591,481 4,242,404
Cash Inflows
Income from Sales - - - - - - - - - - - - -
Accounts Receivable - 212,500 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 8,712,500
Total Cash Inflows - 212,500 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 8,712,500
Cash Outflows
Investing Activities
New Capital Purchases - - - - - - - - - - - - -
Inventory Purchases - - - - - - - - - - - - -
Cost of Sales - 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 1,375,000
Operating Activities
Salaries and Wages 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 69,810 837,723
Fixed Business Expenses 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 3,945 47,340
Taxes - - 546,444 - - 546,438 - - 546,441 - - 546,444 2,185,766
Financing Activities -
Loan Payments 292 292 292 292 292 292 292 292 292 292 292 292 3,501
Line of Credit Interest - 30 30 30 30 30 30 30 30 30 30 30 334
Line of Credit Repayments - - - - - - - - - - - - -
Dividends Paid - - - - - - - - - - - - -
Total Cash Outflows 74,047 199,077 745,521 199,077 199,077 745,515 199,077 199,077 745,518 199,077 199,077 745,521 4,449,664
Cash Flow (74,047) 13,423 104,479 650,923 650,923 104,485 650,923 650,923 104,482 650,923 650,923 104,479 4,262,836
Operating Cash Balance 5,953 23,423 127,902 778,824 1,429,747 1,534,232 2,185,154 2,836,077 2,940,559 3,591,481 4,242,404 4,346,883
Line of Credit Drawdowns 4,047 - - - - - - - - - - - 4,047
Ending Cash Balance 10,000 23,423 127,902 778,824 1,429,747 1,534,232 2,185,154 2,836,077 2,940,559 3,591,481 4,242,404 4,346,883
Line of Credit Balance 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047
TakeCharge, Inc.
Balance Sheet - Year One
Base Period End of Year One
Assets
Current Assets
Cash 80,000 4,346,883
Accounts Receivable - 1,487,500
Inventory 7,000 7,000
Prepaid Expenses 13,993 9,329
Other Current 6,700 4,467
Total Current Assets 107,693 5,855,178
Fixed Assets
Real Estate 3,000 3,000
Buildings - -
Leasehold Improvements 2,000 2,000
Equipment 7,500 7,500
Furniture and Fixtures 3,000 3,000
Vehicles 50,000 50,000
Other Fixed Assets 2,000 2,000
Total Fixed Assets 67,500 67,500
Less: Accumulated Depreciation - 6,643
Total Assets 175,193 5,916,035
Liabilities and Owner's Equity
Liabilities
Accounts Payable - 125,000
Notes Payable 16,793 14,989
Mortgage Payable 2,400 2,355
Line of Credit Balance - 4,047
Total Liabilities 19,193 146,391
Owner's Equity
Common Stock 156,000 156,000
Retained Earnings - 5,613,644
Dividends Dispersed - -
Total Owner's Equity 156,000 5,769,644
Total Liabilities and Owner's Equity 175,193 5,916,035
Statement Balances Statement Balances
TakeCharge, Inc.
Year End SummaryYear One Year Two Year Three
Total Income 10,200,000 25,500,000 63,750,000
Total Cost of Sales 1,500,000 3,750,000 9,375,000
Gross Margin 8,700,000 21,750,000 54,375,000
Total Salary and Wages 837,723 381,924 516,653
Fixed Business Expenses
Advertising 3,000 3,090 3,183
Car and Truck Expenses 8,400 17,304 17,823
Contract Labor 2,400 2,472 2,546
Customer Discounts and Refunds 1,800 1,854 1,910
Insurance (Liability and Property) 13,200 13,596 14,004
Internet 1,200 1,236 1,273
Legal and Professional Fees 2,400 2,472 2,546
Office Expenses 600 618 637
Postage and Delivery 144 148 153
Rent of Vehicles and Equipment 6,000 6,180 6,365
Repairs and Maintenance 2,400 2,472 2,546
Supplies 600 618 637
Telephone and Communications 2,796 2,880 2,966
Travel 2,400 2,472 2,546
Total Fixed Business Expenses 47,340 57,412 59,135
Other Expenses
Amortized Start-up Expenses 6,898 6,898 6,898
Depreciation 6,643 6,643 6,643
Interest
1,438 1,269 1,084
214 210 205
334 364 364
Taxes 2,185,766 5,964,610 15,061,457
Total Other Expenses 2,201,293 5,979,994 15,076,651
Net Income 5,613,644 15,330,671 38,722,562
Commercial Loan
Commercial Mortgage
Line of Credit
TakeCharge, Inc.
Projected Income Statement - Year Two
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Total Income 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 25,500,000
Total Cost of Sales 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 3,750,000
Gross Margin 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 1,812,500 21,750,000
Total Salary and Wages 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 381,924
Fixed Business Expenses
Advertising 258 258 258 258 258 258 258 258 258 258 258 258 3,090
Car and Truck Expenses 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,442 1,442 17,304
Commissions and Fees - - - - - - - - - - - - -
Contract Labor 206 206 206 206 206 206 206 206 206 206 206 206 2,472
Credit Card and Bank Charges - - - - - - - - - - - - -
Customer Discounts and Refunds 155 155 155 155 155 155 155 155 155 155 155 155 1,854
Dues and Subscriptions - - - - - - - - - - - - -
Entertainment - - - - - - - - - - - - -
Insurance (Liability and Property) 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 1,133 13,596
Internet 103 103 103 103 103 103 103 103 103 103 103 103 1,236
Legal and Professional Fees 206 206 206 206 206 206 206 206 206 206 206 206 2,472
Office Expenses 52 52 52 52 52 52 52 52 52 52 52 52 618
Postage and Delivery 12 12 12 12 12 12 12 12 12 12 12 12 148
Rent (on business property) - - - - - - - - - - - - -
Rent of Vehicles and Equipment 515 515 515 515 515 515 515 515 515 515 515 515 6,180
Repairs and Maintenance 206 206 206 206 206 206 206 206 206 206 206 206 2,472
Supplies 52 52 52 52 52 52 52 52 52 52 52 52 618
Telephone and Communications 240 240 240 240 240 240 240 240 240 240 240 240 2,880
Travel 206 206 206 206 206 206 206 206 206 206 206 206 2,472
Utilities - - - - - - - - - - - - -
Total Fixed Business Expenses 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 57,412
Total Other Expenses 498,338 498,337 498,336 498,335 498,334 498,333 498,332 498,331 498,331 498,330 498,329 498,328 5,979,994
Net Income 1,277,551 1,277,552 1,277,553 1,277,554 1,277,554 1,277,555 1,277,556 1,277,557 1,277,558 1,277,559 1,277,560 1,277,561 15,330,671
TakeCharge, Inc.
Projected Cash Flow Statement - Year Two
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Beginning Cash Balance 4,346,883 5,034,949 5,854,266 6,138,685 7,914,251 9,689,818 9,974,233 ######### ######### ######### ######### #########
Cash Inflows
Income from Sales - - - - - - - - - - - - -
Accounts Receivable 850,000 1,168,750 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 23,268,750
Total Cash Inflows 850,000 1,168,750 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 2,125,000 23,268,750
Cash Outflows
Investing Activities
New Capital Purchases - - - - - - - - - - - - -
Inventory Purchases - - - - - - - - - - - - -
Cost of Sales 125,000 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 312,500 3,562,500
Operating Activities
Salaries and Wages 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 31,827 381,924
Fixed Business Expenses 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 4,784 57,412
Taxes - - 1,491,148 - - 1,491,151 - - 1,491,154 - - 1,491,157 5,964,610
Financing Activities -
Loan Payments 292 292 292 292 292 292 292 292 292 292 292 292 3,501
Line of Credit Interest 30 30 30 30 30 30 30 30 30 30 30 30 364
Line of Credit Repayments - - - - - - - - - - - - -
Dividends Paid - - - - - - - - - - - - -
Total Cash Outflows 161,933 349,433 1,840,581 349,433 349,433 1,840,584 349,433 349,433 1,840,587 349,433 349,433 1,840,591 9,970,311
Cash Flow 688,067 819,317 284,419 1,775,567 1,775,567 284,416 1,775,567 1,775,567 284,413 1,775,567 1,775,567 284,409 13,298,439
Operating Cash Balance 5,034,949 5,854,266 6,138,685 7,914,251 9,689,818 9,974,233 ######### ######### ######### ######### ######### #########
Line of Credit Drawdowns - - - - - - - - - - - - -
Ending Cash Balance 5,034,949 5,854,266 6,138,685 7,914,251 9,689,818 9,974,233 ######### ######### ######### ######### ######### #########
Line of Credit Balance 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047
TakeCharge, Inc.
Balance Sheet - Year Two
End of Year One End of Year Two
Assets
Current Assets
Cash 4,346,883 17,645,321
Accounts Receivable 1,487,500 3,718,750
Inventory 7,000 7,000
Prepaid Expenses 9,329 4,664
Other Current 4,467 2,233
Total Current Assets 5,855,178 21,377,969
Fixed Assets
Real Estate 3,000 3,000
Buildings - -
Leasehold Improvements 2,000 2,000
Equipment 7,500 7,500
Furniture and Fixtures 3,000 3,000
Vehicles 50,000 50,000
Other Fixed Assets 2,000 2,000
Total Fixed Assets 67,500 67,500
Less: Accumulated Depreciation 6,643 13,286
Total Assets 5,916,035 21,432,183
Liabilities and Owner's Equity
Liabilities
Accounts Payable 125,000 312,500
Notes Payable 14,989 13,016
Mortgage Payable 2,355 2,306
Line of Credit Balance 4,047 4,047
Total Liabilities 146,391 331,869
Owner's Equity
Common Stock 156,000 156,000
Retained Earnings 5,613,644 20,944,315
Dividends Dispersed - -
Total Owner's Equity 5,769,644 21,100,315
Total Liabilities and Owner's Equity 5,916,035 21,432,183
Statement Balances Statement Balances
TakeCharge, Inc.
Projected Income Statement - Year Three
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Income
Product/Service A - Billable Hrs. 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 63,750,000
Product/Service B - - - - - - - - - - - - -
-
-
Total Income 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 63,750,000
Cost of Sales
Product/Service A - Billable Hrs. 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 9,375,000
Product/Service B - - - - - - - - - - - - -
-
-
Total Cost of Sales 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 9,375,000
Gross Margin 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 4,531,250 54,375,000
Total Salary and Wages 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 516,653
Fixed Business Expenses
Advertising 265 265 265 265 265 265 265 265 265 265 265 265 3,183
Car and Truck Expenses 1,485 1,485 1,485 1,485 1,485 1,485 1,485 1,485 1,485 1,485 1,485 1,485 17,823
Commissions and Fees - - - - - - - - - - - - -
Contract Labor 212 212 212 212 212 212 212 212 212 212 212 212 2,546
Credit Card and Bank Charges - - - - - - - - - - - - -
Customer Discounts and Refunds 159 159 159 159 159 159 159 159 159 159 159 159 1,910
Dues and Subscriptions - - - - - - - - - - - - -
Entertainment - - - - - - - - - - - - -
Insurance (Liability and Property) 1,167 1,167 1,167 1,167 1,167 1,167 1,167 1,167 1,167 1,167 1,167 1,167 14,004
Internet 106 106 106 106 106 106 106 106 106 106 106 106 1,273
Legal and Professional Fees 212 212 212 212 212 212 212 212 212 212 212 212 2,546
Office Expenses 53 53 53 53 53 53 53 53 53 53 53 53 637
Postage and Delivery 13 13 13 13 13 13 13 13 13 13 13 13 153
Rent (on business property) - - - - - - - - - - - - -
Rent of Vehicles and Equipment 530 530 530 530 530 530 530 530 530 530 530 530 6,365
Repairs and Maintenance 212 212 212 212 212 212 212 212 212 212 212 212 2,546
Supplies 53 53 53 53 53 53 53 53 53 53 53 53 637
Telephone and Communications 247 247 247 247 247 247 247 247 247 247 247 247 2,966
Travel 212 212 212 212 212 212 212 212 212 212 212 212 2,546
Utilities - - - - - - - - - - - - -
Total Fixed Business Expenses 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 59,135
Total Other Expenses 1,256,393 1,256,392 1,256,391 1,256,390 1,256,389 1,256,388 1,256,387 1,256,386 1,256,385 1,256,384 1,256,383 1,256,382 15,076,651
Net Income 3,226,875 3,226,876 3,226,877 3,226,878 3,226,879 3,226,880 3,226,881 3,226,882 3,226,883 3,226,884 3,226,885 3,226,886 38,722,562
TakeCharge, Inc.
Projected Cash Flow Statement - Year Three
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Beginning Cash Balance ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### #########
Cash Inflows
Income from Sales - - - - - - - - - - - - -
Accounts Receivable 2,125,000 2,921,875 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 58,171,875
Total Cash Inflows 2,125,000 2,921,875 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 5,312,500 58,171,875
Cash Outflows
Investing Activities
New Capital Purchases - - - - - - - - - - - - -
Inventory Purchases - - - - - - - - - - - - -
Cost of Sales 312,500 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 781,250 8,906,250
Operating Activities
Salaries and Wages 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 43,054 516,653
Fixed Business Expenses 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 4,928 59,135
Taxes - - 3,765,359 - - 3,765,362 - - 3,765,366 - - 3,765,369 15,061,457
Financing Activities -
Loan Payments 292 292 292 292 292 292 292 292 292 292 292 292 3,501
Line of Credit Interest 30 30 30 30 30 30 30 30 30 30 30 30 364
Line of Credit Repayments - - - - - - - - - - - - -
Dividends Paid - - - - - - - - - - - - -
Total Cash Outflows 360,804 829,554 4,594,913 829,554 829,554 4,594,917 829,554 829,554 4,594,920 829,554 829,554 4,594,924 24,547,359
Cash Flow 1,764,196 2,092,321 717,587 4,482,946 4,482,946 717,583 4,482,946 4,482,946 717,580 4,482,946 4,482,946 717,576 33,624,516
Operating Cash Balance ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### #########
Line of Credit Drawdowns - - - - - - - - - - - - -
Ending Cash Balance ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### #########
Line of Credit Balance 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047 4,047
TakeCharge, Inc.
Balance Sheet - Year Three
End of Year Two End of Year Three
Assets
Current Assets
Cash 17,645,321 51,269,837
Accounts Receivable 3,718,750 9,296,875
Inventory 7,000 7,000
Prepaid Expenses 4,664 0
Other Current 2,233 (0)
Total Current Assets 21,377,969 60,573,712
Fixed Assets
Real Estate 3,000 3,000
Buildings - -
Leasehold Improvements 2,000 2,000
Equipment 7,500 7,500
Furniture and Fixtures 3,000 3,000
Vehicles 50,000 50,000
Other Fixed Assets 2,000 2,000
Total Fixed Assets 67,500 67,500
Less: Accumulated Depreciation 13,286 19,929
Total Assets 21,432,183 60,621,283
Liabilities and Owner's Equity
Liabilities
Accounts Payable 312,500 781,250
Notes Payable 13,016 10,857
Mortgage Payable 2,306 2,252
Line of Credit Balance 4,047 4,047
Total Liabilities 331,869 798,406
Owner's Equity
Common Stock 156,000 156,000
Retained Earnings 20,944,315 59,666,877
Dividends Dispersed - -
Total Owner's Equity 21,100,315 59,822,877
Total Liabilities and Owner's Equity 21,432,183 60,621,283
Statement Balances Statement Balances
TakeCharge, Inc.
Financial Ratios
Ratio Year One Year Two Year Three
Liquidity
Current Ratio 40.00 64.42 75.87
Quick Ratio 39.85 64.38 75.86
Safety
Debt to Equity Ratio 0.03 0.02 0.01
Debt to Coverage Ratio 38.39 46.22 48.51
Profitability
Sales Growth - 1.50 1.50
COGS to Sales 0.15 0.15 0.15
Gross Profit Margin 0.85 0.85 0.85
SG&A to Sales 0.09 0.02 0.01
Net Profit Margin 0.55 0.60 0.61
Return on Equity 0.97 0.73 0.65
Return on Assets 0.95 0.72 0.64
Owner's Compensation to Sales 0.01 0.00 0.00
Efficiency
Days in Receivables 52.50 52.50 52.50
Accounts Receivable Turnover 6.86 6.86 6.86
Days in Inventory 1.68 0.67 0.27
Inventory Turnover 214.29 535.71 1,339.29
Sales to Total Assets 1.72 1.19 1.05
TakeCharge, Inc.
Breakeven Analysis
Breakeven Analysis Dollars Percent
Annual Sales Revenue 10,200,000$ 100.00%
Cost of Sales 1,500,000 14.71%
Gross Margin 8,700,000 85.29%
Salaries and Wages 837,723
Fixed Operating Expenses 55,969
Total Fixed Business Expenses 893,692
Breakeven Sales Calculation 893,692
85.29%
Breakeven Sales in Dollars 1,047,777$
TakeCharge, Inc.
Amortization Schedule
Loan Type Assumptions Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Totals
Commercial Loan
Principal Amount 16,793$
Interest Rate 9.00%
Loan Term in Months 84.00
Monthly Payment Amount $270.18
Year One
Interest 126 125 124 123 122 120 119 118 117 116 115 114 1,438
Principal 144 145 146 148 149 150 151 152 153 154 155 157 1,804
Loan Balance 16,649 16,503 16,357 16,210 16,061 15,911 15,760 15,608 15,455 15,301 15,146 14,989
Year Two
Interest 112 111 110 109 108 106 105 104 103 101 100 99 1,269
Principal 158 159 160 161 163 164 165 166 167 169 170 171 1,973
Loan Balance 14,831 14,672 14,512 14,351 14,188 14,024 13,859 13,693 13,526 13,357 13,187 13,016
Year Three
Interest 98 96 95 94 92 91 90 88 87 86 84 83 1,084
Principal 173 174 175 176 178 179 180 182 183 185 186 187 2,158
Loan Balance 12,843 12,669 12,494 12,318 12,140 11,961 11,780 11,598 11,415 11,231 11,045 10,857
Commercial Mortgage
Principal Amount 2,400.00$
Interest Rate 9.00%
Loan Term in Months 240.00
Monthly Payment Amount $21.59
Year One
Interest 18 18 18 18 18 18 18 18 18 18 18 18 214
Principal 4 4 4 4 4 4 4 4 4 4 4 4 45
Loan Balance 2,396 2,393 2,389 2,385 2,382 2,378 2,374 2,370 2,367 2,363 2,359 2,355
Year Two
Interest 18 18 18 18 18 18 17 17 17 17 17 17 210
Principal 4 4 4 4 4 4 4 4 4 4 4 4 49
Loan Balance 2,351 2,347 2,343 2,339 2,335 2,331 2,327 2,323 2,319 2,314 2,310 2,306
Year Three
Interest 17 17 17 17 17 17 17 17 17 17 17 17 205
Principal 4 4 4 4 4 4 4 5 5 5 5 5 54
Loan Balance 2,302 2,297 2,293 2,289 2,284 2,280 2,275 2,271 2,266 2,261 2,257 2,252
TakeCharge, Inc.
Financial Diagnostics
This sheet performs a few tests on your numbers to see if they seem within certain reasonable ranges.
Remember, no computer can tell whether your projections are truly well-constructed, only a human can do that.
But these tests can at least look for values that are critically out of range.
Financial Diagnostics Value Findings
General Financing Assumptions
Owner's Cash Injection into the Business 27.47% Owner's injection is reasonable
Cash Request as percent of Total Required Funds 45.79% Cash request exceeds 20% which might be high
Loan Assumptions
Commercial Loan Interest rate 9.00% Interest rate seems reasonable
Commercial Loan Term in Months 84 Loan term seems within range for this type of loan
Commercial Mortgage Interest rate 9.00% Interest rate seems reasonable
Commercial Mortgage Term in Months 240.00 Loan term seems within range for this type of loan
Loan Payments as a Percent of Projected Sales 0.00% Calculated loan payments as a percent of sales seem resonable
Income Statement
Gross Margin as a Percent of Sales #REF! #REF!
Owner's Compensation Lower Limit Check 72,000$ An owner's compensation amount has been established
Owner's Compensation Upper Limit Check 1.28% Owner's compensation seems reasonable
Advertising Expense Levels as a Percent of Sales 0.03% Advertising as a percent of sales may be too low
Profitability Levels 5,613,644$ The business is showing a profit
Profitability as a Percent of Sales #REF! #REF!
Cash Flow Statement
Desired Operating cash Flow Levels 4,047$ The financial projection does not provide the desired level of cash flow
Line of Credit Drawdowns 4,047$ The business will need at least this level of a line of credit
Accounts Receivable Ratio to Sales 14.58% Accounts receivable amount as a percent of sales seems reasonable
Balance Sheet
Does the Base Period Balance Sheet Balance? - The balance sheet does balance
Does the Final Balance Sheet Balance - The balance sheet does balance
Debt to Equity Ratio 2.54% The debt to equity ratio seems reasonable
Breakeven Analysis
Breakeven Levels 9,152,223$ The sales projection exceeds the projected break-even sales level
End of Year One End of Year Two End of Year Three
Assets
Current Assets
Cash 4,346,882.60$ 17,645,321.34$ 51,269,836.85$
Accounts Receivable 1,487,500.00$ 3,718,750.00$ 9,296,875.00$
Inventory 7,000.00$ 7,000.00$ 7,000.00$
Prepaid Expenses 9,328.67$ 4,664.33$ 0.00$
Other Current 4,466.67$ 2,233.33$ (0.00)$
Total Current Assets 5,855,177.93$ 21,377,969.00$ 60,573,711.85$
Fixed Assets
Real Estate 3,000.00$ 3,000.00$ 3,000.00$
Buildings -$ -$ -$
Leasehold Improvements 2,000.00$ 2,000.00$ 2,000.00$
Equipment 7,500.00$ 7,500.00$ 7,500.00$
Furniture and Fixtures 3,000.00$ 3,000.00$ 3,000.00$
Vehicles 50,000.00$ 50,000.00$ 50,000.00$
Other Fixed Assets 2,000.00$ 2,000.00$ 2,000.00$
Total Fixed Assets 67,500.00$ 67,500.00$ 67,500.00$
Less: Accumulated Depreciation 6,642.86$ 13,285.71$ 19,928.57$
Total Assets 5,916,035.00$ 21,432,183.00$ 60,621,283.00$
Liabilities and Owner's Equity
Liabilities
Accounts Payable 125,000.00$ 312,500.00$ 781,250.00$
Notes Payable 14,988.95$ 13,015.67$ 10,857.28$
Mortgage Payable 2,355.05$ 2,305.89$ 2,252.12$
Line of Credit Balance 4,047.03$ 4,047.03$ 4,047.03$
Total Liabilities 146,391.03$ 331,868.59$ 798,406.43$
Owner's Equity
Common Stock 156,000.00$ 156,000.00$ 156,000.00$
Retained Earnings 5,613,644.04$ 20,944,314.70$ 59,666,876.85$
Dividends Dispersed -$ -$ -$
Total Owner's Equity 5,769,644.04$ 21,100,314.70$ 59,822,876.85$
Total Liabilities and Owner's Equity 5,916,035.00$ 21,432,183.00$ 60,621,283.00$
Statement Balances Statement Balances Statement Balances
Statement Balances