Complete income statement

Compete income statement for expansion alternative

EXHIBIT 3: INCOME STATEMENTS AND FINANCIAL RATIOS FOR YEARS ENDING AUGUST 31 2016 2015 Revenue Summer camps Private lessons Board rentals Board sales T-shirt sales Total Revenue COGS Transaction fees Skimboards T-shirts Total COGS 2017 $ 9,660 820 201 660 411 $ 11,752 $ 14,595 130 189 540 349 100% $ 15,803 100% $ 13,290 520 154 360 45 $ 14,369 100% 353 3% $ 3% 3% 440 206 998 474 360 175 1,009 431 240 23 694 $ 8.5% $ 6.4% $ 4.8% $ 10,754 91.5% $ 14,794 93.6% $ 13,675 95.2% $ $ Gross Margin Operating Expenses Business licence and insurance $ Depreciation Supplies Printing Website maintenance Staff uniforms Wages Total Expenses $ 635 5.4% 349 3.0% 55 0.5% 110 0.9% 488 4.2% 258 2.2% 1,902 16.2% 3.797 32.3% 650 331 38 123 252 620 4,644 6,659 4.1% 2.1% 0.2% 0.8% 1.6% 3.9% 29.4% 42.1% 635 4.4% 294 2.0% 0 0.0% 0 0.0% 1,050 7.3% 620 4.3% 2,090 14.5% 4,689 32.6% $ $ Net Income $ 6,95759.2% $ 8,136 51.5% $ 8,986 62.5% Note: All dollar amounts are in Canadian dollars; COGS = cost of goods sold; "board rentals for summer camps currently totalled $75: "White Rock Skimboarding took a 50-per-cent margin on T-shirts. Source: Company files EXHIBIT 4: STATEMENTS OF CAPITAL FOR YEARS ENDING AUGUST 31 (CA$) 2017 2016 2015 Starting capital $ 2,439 1,803 $ (183) Net Income (loss) 6.957 8,136 8,986 Less: Drawings 7,500 7,500 7,000 Ending capital $ 1,895 $ 2,439 1,803 Source: Company files $ 2015 $ $ 138 720 316 1,174 $ $ EXHIBIT 5: BALANCE SHEETS AS AT AUGUST 31 (CA$) 2017 2016 ASSETS Current assets Cash $ 266 538 Inventory: Skimboards 960 840 Inventory: T-shirts 341 357 Total current assets $ 1,567 $ 1,735 Fixed assets Ramp $ 308 $ 308 Table 178 124 Signage 267 232 Awning 561 561 Other fixed assets 432 432 Total fixed assets 1,746 1,657 Less: Depreciation, all assets (1.165) (816) Net fixed assets 581 $ 841 TOTAL ASSETS $ 2,148 $ 2,577 LIABILITIES Current liabilities Accounts payable $ 106 $ 59 Credit card payable 147 79 Total Liabilities $ 253 $ 138 EQUITY Capital $ 1,895 $ 2.439 TOTAL LIABILITIES & EQUITY $ 2,148 $ 2,577 Source: Company files 154 124 200 561 432 1,471 (484) 987 2,161 ou $ $ $ $ 245 113 358 $ $ 1,803 $ 2,161 EXHIBIT 6: FINANCIAL RATIOS 2017 2016 367% 334% 2015 498% 6.19:1 1.05: 1 12.57:1 3.90 : 1 3.28:1 0.39:1 Profitability Return on Equity Liquidity Current Ratio Acid Test Stability Debt to Equity Growth Sales Net Income Total Assets Equity Source: Company files. 13% 6% 20% 2016 - 2017 -26% -14% -22% -17% 2015 - 2016 10% -9% 35% 19% 2018 Revenue Summer camps Private lessons Board rentals Board sales Assumption Given 20% growth $319 $1080 T-shirt sales $300 351 740 TOTAL Revenue COGS Transaction fees Skimboards T-shirts TOTAL COGS Gross Margin OPERATING EXPENSES 150 1221 Business license Given 349 58 105 491 Depreciation Supplies Printing Website Staff Uniforms Wages TOTAL Expenses NET INCOME 257 3435 Assumption 2018 Revenue Summer camps Private lessons TOTAL Revenue 670 Investment Ramp Table 160 100 Signage 130 600 400 220 1610 900 - status quo 265 Awning Legal fees Recruiting TOTAL Investment OPERATING EXPENSES Business license Rent Supplies Printing Advertising Staff Uniforms Wages Transaction fees TOTAL Expenses NET INCOME 52 94 400 232 1350 314 EXHIBIT 3: INCOME STATEMENTS AND FINANCIAL RATIOS FOR YEARS ENDING AUGUST 31 2016 2015 Revenue Summer camps Private lessons Board rentals Board sales T-shirt sales Total Revenue COGS Transaction fees Skimboards T-shirts Total COGS 2017 $ 9,660 820 201 660 411 $ 11,752 $ 14,595 130 189 540 349 100% $ 15,803 100% $ 13,290 520 154 360 45 $ 14,369 100% 353 3% $ 3% 3% 440 206 998 474 360 175 1,009 431 240 23 694 $ 8.5% $ 6.4% $ 4.8% $ 10,754 91.5% $ 14,794 93.6% $ 13,675 95.2% $ $ Gross Margin Operating Expenses Business licence and insurance $ Depreciation Supplies Printing Website maintenance Staff uniforms Wages Total Expenses $ 635 5.4% 349 3.0% 55 0.5% 110 0.9% 488 4.2% 258 2.2% 1,902 16.2% 3.797 32.3% 650 331 38 123 252 620 4,644 6,659 4.1% 2.1% 0.2% 0.8% 1.6% 3.9% 29.4% 42.1% 635 4.4% 294 2.0% 0 0.0% 0 0.0% 1,050 7.3% 620 4.3% 2,090 14.5% 4,689 32.6% $ $ Net Income $ 6,95759.2% $ 8,136 51.5% $ 8,986 62.5% Note: All dollar amounts are in Canadian dollars; COGS = cost of goods sold; "board rentals for summer camps currently totalled $75: "White Rock Skimboarding took a 50-per-cent margin on T-shirts. Source: Company files EXHIBIT 4: STATEMENTS OF CAPITAL FOR YEARS ENDING AUGUST 31 (CA$) 2017 2016 2015 Starting capital $ 2,439 1,803 $ (183) Net Income (loss) 6.957 8,136 8,986 Less: Drawings 7,500 7,500 7,000 Ending capital $ 1,895 $ 2,439 1,803 Source: Company files $ 2015 $ $ 138 720 316 1,174 $ $ EXHIBIT 5: BALANCE SHEETS AS AT AUGUST 31 (CA$) 2017 2016 ASSETS Current assets Cash $ 266 538 Inventory: Skimboards 960 840 Inventory: T-shirts 341 357 Total current assets $ 1,567 $ 1,735 Fixed assets Ramp $ 308 $ 308 Table 178 124 Signage 267 232 Awning 561 561 Other fixed assets 432 432 Total fixed assets 1,746 1,657 Less: Depreciation, all assets (1.165) (816) Net fixed assets 581 $ 841 TOTAL ASSETS $ 2,148 $ 2,577 LIABILITIES Current liabilities Accounts payable $ 106 $ 59 Credit card payable 147 79 Total Liabilities $ 253 $ 138 EQUITY Capital $ 1,895 $ 2.439 TOTAL LIABILITIES & EQUITY $ 2,148 $ 2,577 Source: Company files 154 124 200 561 432 1,471 (484) 987 2,161 ou $ $ $ $ 245 113 358 $ $ 1,803 $ 2,161 EXHIBIT 6: FINANCIAL RATIOS 2017 2016 367% 334% 2015 498% 6.19:1 1.05: 1 12.57:1 3.90 : 1 3.28:1 0.39:1 Profitability Return on Equity Liquidity Current Ratio Acid Test Stability Debt to Equity Growth Sales Net Income Total Assets Equity Source: Company files. 13% 6% 20% 2016 - 2017 -26% -14% -22% -17% 2015 - 2016 10% -9% 35% 19% 2018 Revenue Summer camps Private lessons Board rentals Board sales Assumption Given 20% growth $319 $1080 T-shirt sales $300 351 740 TOTAL Revenue COGS Transaction fees Skimboards T-shirts TOTAL COGS Gross Margin OPERATING EXPENSES 150 1221 Business license Given 349 58 105 491 Depreciation Supplies Printing Website Staff Uniforms Wages TOTAL Expenses NET INCOME 257 3435 Assumption 2018 Revenue Summer camps Private lessons TOTAL Revenue 670 Investment Ramp Table 160 100 Signage 130 600 400 220 1610 900 - status quo 265 Awning Legal fees Recruiting TOTAL Investment OPERATING EXPENSES Business license Rent Supplies Printing Advertising Staff Uniforms Wages Transaction fees TOTAL Expenses NET INCOME 52 94 400 232 1350 314