2. a. What is the total amount of money spent on the gross fixed assets at Time 0?
b. How much money is spent on working capital in Year 1?
c. Given that we have already spent money on working capital in year 1, how much additional working capital will be spent in year 2?
Balance Sheet for the year of 2019-2023 2019 2020 2022 2023 Assets cash other current assets(exclude cash) $ 200,000.00 400,000.00 Fixed Assets Land Building&Equipment Accumulated depreciation Net fixed Assets Other Assets Land improvements Total Assets $ 5,721,075.73 $ 9,276,342.09$ 13,204,809.23 $ 17,305,040.61$21,584,609.26 400,000.00 400,000.00 400,000.00 $ 1,009,050.001,009,050.00 1,009,050.00 $ 1,009,050.00 1,009,050.00 $ 2,354,450.00 $ 2,295,588.75 S 2,236,727.50 $ 2,177,866.25 $ 2,119,005.00 58,861.25 $58,861.25 58,861.25 $58,861.25 58,861.25 $ 3,304,638.75 3,245,777.50 3,186,916.25 $3,128,055.00 $ 3,069,193.75 $792,825.00 713,542.50634,260.00 554,977.50 475,695.00 $ 10,018,539.48 13,635,662.09 $17,425,985.48 $ 21,388,073.11 $25,529,498.01 Total Current Liabilities Long term Debt Investment to be financed Total Liability Owner's Equity $100,000.00 200,000.00 200,000.00 200,000.00 200,000.00 $ 2,313,247.132,313,247.13 2,313,247.13 $ 2,313,247.13 2,313,247.13 $ 4,156,325.00 4,018,181.25 $ 3,880,037.50 3,741,893.75 3,603,750.00 $ 6,569,572.13$ 6,531,428.38 S 6,393,284.63 $ 6,255,140.88 $ 6,116,997.13 $ 3,448,967.36 $ 7,104,233.72 S 11,032,700.86 $ 15,132,932.23 $19,412,500.89 Retained Earnings Common Stock Total Liability and Equity $ 10,018,539.48 13,635,662.09 $17,425,985.48 $ 21,388,073.11 $25,529,498.01 Income State ment for the year of 2019-2023 2019 2020 2022 2023 Revenue Room revenue Food and Beverage revenue other income 10,347,750.00 $ 10,894,520.00 11,606,649.60 $ 12,070,915.58 $12,554,959.30 $ 2,069,550.00 $ 2,178,904.00$ 2,321,329.92$2,414,183.12 2,510,991.86 10,000.00 10,300.00 $ 10,609.00 $10,927.27 11,255.09 12,427,300.00 $ 13,083,724.00 13,938,588.52 $ 14,496,025.97 $15,077,206.25 all Revenues Expenses Department Expen Rooms Food and Beverage Undistributed Operating Expenses ses $ 2,276,505.00 $ 2,396,794.40$ 2,553,462.91 $2,655,601.43 2,762,091.05 $1,448,685.00 $1,525,232.80 1,624,930.94 $ 1,689,928.18 $ 1,757,694.30 $ 869,911.00$ 785,023.44 $836,315.31 $869,761.56 904,632.37 min & General Marketing Franchise Fee Energy Expense Property Maintenance Total Expenses Income Before Fixed Charges $5,678,467.00 $ 5,992,514.21 6,406,548.39 6,669,313.27 $ 6,943,517.75 621,365.00 640,005.95 $ 659,206.13 $ 678,982.31 699,351.78 413,910.00 435,780.80 464,265.98 $ 482,836.62 502,198.37 621,365.00 $ 654,186.20 $ 696,929.43 $724,801.30 $753,860.31 497,092.00 654,186.20 696,929.43 $ 724,801.30 753,860.31 $6,748,833.00 $ 7,091,209.79 $ 7,532,040.13 7,826,712.70 $ 8,133,688.50 Fixed Charges Real Estate Taxes Property Insurance Interest Expense Management Fees Depreciation Expense Income before Income Taxes$ 4,790,232.44 $ 5,076,758.83 $ 5,456,204.36 $ 5,694,765.80 Income Taxes Net Income $ 248,546.00 $ 253,516.92 258,587.26 $ 263,759.00$269,034.18 248,546.00 $ 261,674.48 278,771.77$ 289,920.52 301,544.12 161,927.30 161,927.30 161,927.30 $ 161,927.30 161,927.30 $ 170,354.01 $ 179,775.43 192,196.45 $ 200,079.40$ 208,305.53 58,861.25 $ 58,861.25 $ 58,861.25 $ 58,861.25 58,861.25 5,943,845.36 $ 958,046.49 $ 1,015,351.77 $ 1,091,240.87 $ 1,138,953.16 $ 1,188,769.07 $3,832,185.95 $ 4,061,407.07 $ 4,364,963.49 4,555,812.64 $ 4,755,076.29 Balance Sheet for the year of 2019-2023 2019 2020 2022 2023 Assets cash other current assets(exclude cash) $ 200,000.00 400,000.00 Fixed Assets Land Building&Equipment Accumulated depreciation Net fixed Assets Other Assets Land improvements Total Assets $ 5,721,075.73 $ 9,276,342.09$ 13,204,809.23 $ 17,305,040.61$21,584,609.26 400,000.00 400,000.00 400,000.00 $ 1,009,050.001,009,050.00 1,009,050.00 $ 1,009,050.00 1,009,050.00 $ 2,354,450.00 $ 2,295,588.75 S 2,236,727.50 $ 2,177,866.25 $ 2,119,005.00 58,861.25 $58,861.25 58,861.25 $58,861.25 58,861.25 $ 3,304,638.75 3,245,777.50 3,186,916.25 $3,128,055.00 $ 3,069,193.75 $792,825.00 713,542.50634,260.00 554,977.50 475,695.00 $ 10,018,539.48 13,635,662.09 $17,425,985.48 $ 21,388,073.11 $25,529,498.01 Total Current Liabilities Long term Debt Investment to be financed Total Liability Owner's Equity $100,000.00 200,000.00 200,000.00 200,000.00 200,000.00 $ 2,313,247.132,313,247.13 2,313,247.13 $ 2,313,247.13 2,313,247.13 $ 4,156,325.00 4,018,181.25 $ 3,880,037.50 3,741,893.75 3,603,750.00 $ 6,569,572.13$ 6,531,428.38 S 6,393,284.63 $ 6,255,140.88 $ 6,116,997.13 $ 3,448,967.36 $ 7,104,233.72 S 11,032,700.86 $ 15,132,932.23 $19,412,500.89 Retained Earnings Common Stock Total Liability and Equity $ 10,018,539.48 13,635,662.09 $17,425,985.48 $ 21,388,073.11 $25,529,498.01 Income State ment for the year of 2019-2023 2019 2020 2022 2023 Revenue Room revenue Food and Beverage revenue other income 10,347,750.00 $ 10,894,520.00 11,606,649.60 $ 12,070,915.58 $12,554,959.30 $ 2,069,550.00 $ 2,178,904.00$ 2,321,329.92$2,414,183.12 2,510,991.86 10,000.00 10,300.00 $ 10,609.00 $10,927.27 11,255.09 12,427,300.00 $ 13,083,724.00 13,938,588.52 $ 14,496,025.97 $15,077,206.25 all Revenues Expenses Department Expen Rooms Food and Beverage Undistributed Operating Expenses ses $ 2,276,505.00 $ 2,396,794.40$ 2,553,462.91 $2,655,601.43 2,762,091.05 $1,448,685.00 $1,525,232.80 1,624,930.94 $ 1,689,928.18 $ 1,757,694.30 $ 869,911.00$ 785,023.44 $836,315.31 $869,761.56 904,632.37 min & General Marketing Franchise Fee Energy Expense Property Maintenance Total Expenses Income Before Fixed Charges $5,678,467.00 $ 5,992,514.21 6,406,548.39 6,669,313.27 $ 6,943,517.75 621,365.00 640,005.95 $ 659,206.13 $ 678,982.31 699,351.78 413,910.00 435,780.80 464,265.98 $ 482,836.62 502,198.37 621,365.00 $ 654,186.20 $ 696,929.43 $724,801.30 $753,860.31 497,092.00 654,186.20 696,929.43 $ 724,801.30 753,860.31 $6,748,833.00 $ 7,091,209.79 $ 7,532,040.13 7,826,712.70 $ 8,133,688.50 Fixed Charges Real Estate Taxes Property Insurance Interest Expense Management Fees Depreciation Expense Income before Income Taxes$ 4,790,232.44 $ 5,076,758.83 $ 5,456,204.36 $ 5,694,765.80 Income Taxes Net Income $ 248,546.00 $ 253,516.92 258,587.26 $ 263,759.00$269,034.18 248,546.00 $ 261,674.48 278,771.77$ 289,920.52 301,544.12 161,927.30 161,927.30 161,927.30 $ 161,927.30 161,927.30 $ 170,354.01 $ 179,775.43 192,196.45 $ 200,079.40$ 208,305.53 58,861.25 $ 58,861.25 $ 58,861.25 $ 58,861.25 58,861.25 5,943,845.36 $ 958,046.49 $ 1,015,351.77 $ 1,091,240.87 $ 1,138,953.16 $ 1,188,769.07 $3,832,185.95 $ 4,061,407.07 $ 4,364,963.49 4,555,812.64 $ 4,755,076.29
