can somone double check this for me.

You borrow 10000 from your uncle to start the business. No interest or principle due.Full amount is due in 10 years.

You give 2000 of your own money to start the business

You spend500 for legal set up and name

You spend 1000 for a computer cash register combo which should last for 5 years

You spend 2000 for dcor and display equipment which should last for 5 years

You spend 7000 for your initial inventory

First year you sell 60000 worth of sales

you buy 25000 more in inventory

You end the year with inventory of 5000

You hire help for the store and pay 5000 per year

Rent is 500 per month

Utilities are 200 per month

Advertising is 300 per month

You collect the cash for all sales by the end of the month

You are required to pay for all inventory when ordered

Income taxes are 25% of pretax income

You pay taxes as income is earned.

Sales tax is added on to sales and paid so not included in this analysis

Can some help me with this question i have year 0 numbers spilted up from year 1 numbers on the balance sheet and for the income statement year 1 is to the far right side of the screen. these numbers i calucated but im not sure if im doing it right. INCOME STATEMENT and BALANCE SHEET

HOW MUCH CASH DO YOU HAVE AT THE END OF YEAR ONE

BALANCE SHEET INCOME STATEMENT

Year 0 Year 1 Year 1

Cash 1500 11550 Sales 60000

Inventory 7000 5000 COGS 27000

MARGIN 33000

Fixed assets 3500 3500

less dep 0 600 Labor 5000

Net fixed assets 3500 2400 Depreciation 600

Other Assets 0 500 Rent 6000

Utilities 2400

Total Assets 12000 19450 Advertising 3600

Loans 10000 10000 Operating Profit 15400

Retained Earnings 0 11550 Taxes 3850

Net Income 11550

TOTAL L&E 12000 21550