2 3 I See The Light Projected Income Statement For the Period Ending December 31, 20x1 4 5 6 Sales 7 8 9 Cost of Goods Sold Gross Profit Selling Expenses: 25,000 lamps @ $45.00 @ $30.00 $ 1,125,000.00 750,000.00 $ 375,000.00 10 Fixed $ 23,000.00 11 Variable (Commission per unit) @ $3.00 75,000.00 $ 98,000.00 12 Administrative Expenses: 13 Fixed 14 Variable @ $2.00 $ 42,000.00 50,000.00 92,000.00 15 16 Total Selling and Administrative Expenses: Net Profit 190,000.00 $ 185,000.00 17 18 19 20 21 22 23 24 25 26 27 I See The Light Projected Balance Sheet As of December 31, 20x1 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets 500 @ $16.00 0 3000 @ $30.00 $ 34,710.00 67,500.00 8,000.00 90,000.00 $ 200,210.00 $ 20,000.00 6,800.00 13.200.00