Complete the attached cash flow negative worksheet on Glak Love's financials

Glak Love Jewelry Design & Mfg. Class Handout Revenues First Month of Operations: 10,000 units sold at $10 per unit. Second Month of Operations: 20,000 units sold. The first 10,000 at $10 per unit, and the second 10,000 at $8 per unit. Third Month of Operations: 40,000 units sold at $6 per unit. Cash Flow characteristics: Goods are shipped at the end of the month are paid to the Company at the end of the following month by the customer. Cost of Goods Sold is made up of three components: Direct Materials --$2 per unit Direct Labor---$3 per unit, renegotiated to $2 in the third month with new pricing Fixed Machinery and Mfg. machinery and space rental costs---$10,000 per month, $15,000 with new labor price in month 3 Cash flow characteristics: Mfg. is outsourced to a different organization and all costs are paid upfront by the end of the month they are produced - i.e. paid when they are received for the month they are received. Operating Expenses: the remainder of the company's expenses includes the following: Salaries for office staff and the Owner are fixed at $120,000 per year or $10,000 per month. $50,000 of the total goes to the owner Advertising is a fixed rate contract with an internet services firm which provides the company with secure servers, web analytics and Search Engine Optimization services for $3000 per month. Office Rental is a fixed yearly rental contract for the administrative offices which costs the company $4500 per month. Insurance is a fixed rate contract for insurance on the plant property and equipment is $1000 per month. Cash flow characteristics: All operating expenses are paid during the month that they are incurred. First Month Opening Balance Sheet Cash Flow Balance Sheet Income Statement Cash 75,000 Accounts Receivable Revenues Direct materials Direct Labor Total Assets 75,000 II Machinery rent Cost of Goods Sold Salary Adi sing Accounts Payable Owners' Equity L 75,000 Owners Capital Retained Earnings Office Rental Insurance Operating expenses Net Pre-tax Profit Total Owners Equity 75,000 OE Second Month Income Statement Cash Flow Balance Sheet Third Month Balance Sheet Income Statement Cash Flow Cash Accounts Receivable A Total Assets Accounts Payable II L Revenues Direct materials Direct Labor Machinery rent Cost of Goods Sold Salary Advertising Office Rental Insurance Operating expenses Net Pre-tax Profit + Owners' Equity Owners Capital Retained Earnings Total Owners Equity OE