1. complete the budgeted 3-month income statement and balance sheet 2. using budgeted income statement to make a flexible budget showing the projected net income at a lower sales level and higher level of sales 3. list a long-term financial goal and 3 non-financial goal that may used in a balanced scordcard; name one weakness and one strength with the current economy conditions; how these strength and weaknesses be visable in the financial statements

starbucks submission2 copy(1) - Excel 25 A PDF a G H M N Other information from the statements necessary make the budget 1) Cost of Sales are 32.08% of Sales 2) Variable Expenses Store Operations Other Operations Revenues = 40.56% 3) Fixed Expenses are $161.05 per month 4) Income tax rate is 21.83% (Income Tax Expense/Earnings before Taxes) 5) Depreciation - $103.92/month 6) Interest Rate 15 - 2% per year (Interest Expense/Long Term Debt calculation 32.00 40566 161.05 21.83 103.92 187% 4th Quarter Budgeted Sales October November December $ 1.570$ 1,8605 2170 $2,209.05 Montly Average Revenue 2059.95833 STARBUCKS CORPORATION CONSOLIDATED INCOME STATEMENT D Fiscal Year Ended 30.09.2018 Net revenues Is company-Operated stores 19,6903 licensed stores 2.6522 Other 23770 Total net revenues 24,719,5 Cost of sales 7,930.7 Gross profit 16 788 8 Store operating expenses 9.4722 Other operating expenses 5549 Depreciation and amortization expenses 1.247.0 3 General and administrative expenses 1708.2 Restructuring and impairments 2244 Total operating expenses 21 137.4 6 Income from equity investees 3012 7 Operating income 3,8833 B Gain resulting from acquisition of joint vent 13764 9 Net gain resulting from divestiture of certa 4992 0 Interest income and other net 1914 1 Interest expense -170.3 22 Earnings before income taxes 5,780.0 23 Income tax expense 1.2620 24 Net earnings including non-controlling 4,5180 -0.3 25 Net earnings (loss attributable to non cont 26 Net earnings attributable to Starbucks 45183 27 28 29 30 31 32 33 Budgeted income statement 29/10/2018 29/11/2018 29/12/2018 Revenue $ 3,140.00 $ 3,720.00 $ Cost of sales $ 1,007 40 5 1.193.48$ Gross profit $ 2132.60 $ 2.526.52 $ Vanable Expe S 1,273,69 1,508.96 $ Fixed Expens S 161.05 $ 16105 Depreciation $ 103,92 $ 103 92 $ Total Opera $ 1538.66 $1773 93 $ Income from $ 25.10 25.103 Operating ir $ 619.04 $ 777.69 $ Gain resulting S 114.70 S 114.70 Net gain resus 41.60S 41.60S Interest incor $ 15.95 15.95 Interest expels -14 195 14.19 S Earnings bet S 77710 $ 935.75 S Income taxes 169.67$ 169.67 S Net earning $ 60743 $ 766.08 $ Net earnings S0033 -0.03 Net earning $ 607.45 $ 766.10 S 4,340.00 1.392 39 2,94761 1.760.46 16105 103.92 2025.42 25.10 947 28 114.70 4160 15.95 -14.19 1105 34 169 67 935.67 0,03 935.70 Schedule C-Inventory Purchases Schedule D-Cash for Inv... 209 35 income statement Sheet 7 schedule a-sales budget schedule B-cash collections ,ENTER O O El - 20:50 ch d 2020/12/S starbucks submission2 copy(1) - Excel 14 EX Thunft NE BRD RAPDF 9 E14 D 1 Using the data above, you now have to start the schedules necessary to make the 3-month master budget. Items you will use 3 1) Sales are 40% Cash and 60% Credit. Of the credit sales, 30% are collected the next month, 40% the month after, and 30% the month after that 4 2) Your account receivable total on the balance sheet will be collected as follows: 40% in October, 40% in November, 15% in December, and 5% is uncollectible. 3) 50% of your account payable total is inventory bought on account which you pay for the next month 4) Whatever your inventory total is on your balance sheet, you must keep 20% of this as ending inventory each month (Like the example we did in class) 5) You must maintain 10% of your cash total from you balance sheet in your cash account (This applies to the cash budget). B "For this submission, you have to complete the cash and capital budgets. You must explain whether you are buying long term assets and why? 9 Or are you paying off short term debt if you don't have cash to do either of these, explain what is causing this 20 11 12 14 16 17 18 19 20 21 24 25 26 20 Schedule Cacho Schedule inventory Purchase schedule B cash collections 31 ...income statement Sheet schedules sales budget starbucks submi 14 HEX 2120 RAMPDF un A1 Sales Budget D E F 1 B Sales Budget october november $628.00 $744.00 $942.00 $1,116.00 december $868.00 $1,302.00 2 3 Cash sales, 40% 4 Credit sales, 60% 5 6 7 8 9 10 Sales Forecast October November December $ 1,570 $ 1,860 $ 2.170 11 12 13 14 15 16 17 starbucks submission2 copy(1) - E PDF 21 D F december $868.00 A B C cash collections october november Cash Sales $628.00 $744.00 On accounts receivable from: Spetember Receivables (Balance She 277.24 277.24 October Sales $282.60 November Sales $103.97 376.80 5334.80 Total Collections $905.24 $1.303.84 $1,683.57 Cash Budget 2 3 | 5 3 - starbucks submission2 copy(1) - Excel EN 23 BAD LAPDF G18 f A B G H 1 Purchases Budget 2 October November December 3 Desired Ending Inventory $ 280.10 $ 280.10 $ 280.10 4 Cost of Goods Sold $ 503.70 $ 596.74 $ 696.20 5 Total Needed $ 783.80 $ 876.84 $ 976.30 5 Inventory $ 1,400.50 $ 896.80 $ 19.96 7 Purchases 1.179.30 $ 589.65 $ S 956.34 Account Payable amount on the Budgeted Balance Sheet 3 Balance Sheet Accounts Payable f Goods Sold 32.08% 0 Sales Forecast October November December 2 $ 1.570.00 $ 1,860.00 $ 2.170.00 3 4 5 6 7 8 9 0 2 3 -4 26 starbucks submission2 copy PDF H18 f F G A B c D E Cash Paid for Inventory Purchases October November December 3 Last Month's Purchases $ 589.65 956.34 A 5 Each Month's Purchases from Schedule C are paid for the following month 6 123 4 5 7 8 9 10 11 12 13 14 15 16 17 18 19 20 $14 21 PDF ta 14 G B. D E F 1 Cash Expenditures Budget 2 October November December Total 3 Variable Expe $ 636.85 $ 754.48 $ 880.23 $ 2.271.56 4 Fixed Expense $ 161.05 $ 161.05 $ 161.05 $ 483.15 5 Cash Expend $ 797.90 $ 915.53 $ 1,041.28 $ 2,754.71 Cash Outflows 6 7. 8 Sales Forecast 9 July August Sepetmber 10 $ 1,570.00 $ 1.860.00 $ 2.170.00 11 12 e Expenses = 40.56% 13 14 15 16 17 18 19 20 sta PDF 17 A B 0 D E Operating Expenses Budget October November December Total B Cash Expendi $ 79790 $ 915.53 $ 1.041.28 $ 2754.71 Depreciation $ 103.92 $ 103.92 103.92 $ 31175 5 Total Operat $ 901.81 $ 1,019.45 $ 1,145.20 $ 3,066.46 1 2 3 4 starbucks submission2 copy(1) - Excel 4 23 PDF P24 fic F decided to A B 1 October November December 2 Beginning Cash Balance (From Balance Sheet) $ 8,756.30 $ 2,909.30 $ 2,765.47 3 Minimum Cash Balance Desired (20% of Cash Balance) $ 875.63 $ 875.63 $ 875.63 4 Available Cash Balance $ 7,880.67 $ 2,033.67 $ 1,889.84 5 Cash from customers (Schedule B) $905.24 $1.303.84 $1,683.57 6 Payment for Inventory (Schedule D) $ 589.65 $ $ 956.34 7 Accrued Liabilities (Balance Sheet) $ 350.50 $ 525.75 $ 438.43