Cost of doing business Expenses Rent Expected monthly cost Expected yearly cost 4,000 48,000 Salaries and wages 12,000 144,000 Supplies: technology and equipment, furniture, Other Advertising and Other 130,000 4,200 350 5,000 24,000 Promotions 1,000-3,000 Utilities: Heat and 1,500-2,000 20,000 Electricity, Etc. Utilities: Telephone. 200 2,400 Internet Insurance 300 3,600 Personal loan and interest 3350 40,200 cost Total Monthly cost 23,700-24,200 286,400 I Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Yearly Revenue Sale Food Beverages Total Revenue (sales) Cost of Goods sold 49,500 49,500 54,000 54,000 36,000 36,000 36,000 36,000 67,500 67,500 67,500 67,500 621,000 5,500 5,500 6,000 6,000 4,000 4,000 4,000 4,000 7,500 7,500 7,500 7,500 69,000 55,000 55,000 60,000 60,000 40,000 40,000 40,000 40,000 75,000 75,000 75,000 75,000 690,000 Food (32%) Beverages (32%) Total cost of goods sold Gross Profit I 15,840 15,840 17,280 17,280 11,520 11,520 11,520 11,520 21,600 21,600 21,600 21,600 198,720 1,760 1,760 1,920 1,920 1,280 1,280 1,280 1,280 2,400 2,400 2,400 2,400 22,080 17,600 17,600 19,200 19,200 12,800 12,800 12,800 12,800 24,000 24,000 24,000 24,000 220,800 37,400 37,400 40,800 40,800 27,200 27,200 27,200 27,200 51,000 51,000 51,000 51,000 469,200) Lotal cost Of goods sold Gross Profit States 17,000 17,0 19,200 1928 14,000 12,000 12,000 12000 24,000 20,00 24,0 24,000 220,000 37,400 37,400 40,800 40,800 27,200 27,200 27,200 27,200 51,000 51,000 51,000 51,000 469 200 Expense Supplies 350 350 350 Expense Operating Expenses Rent Expense Salary/wage 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 144,000 350 350 350 350 350 350 350 350 350 4,200 Advertising 2000 2000 2000 2000 2000 2000 2000 Expenses Utilities 1500 1500 1500 1500 1500 1500 1500 1500 2,000 2000 2000 2000 2000 2000 24,000 2,000 2,000 2,000 20,000 Expenses Telephone 200 200 200 200 200 200 200 200 2001 200 200 200 2,400 Internet Expense Insurance 300 300 300 300 300 300 300 300 300 300 300 300 3,600 Expense Leans Expense 3350 3350 3350 3350 Total Expense 3350 3350 3350 3350 3350 3350 3350 3350 40,200 23,700 23,700 23,700 23,700 23,700 23,700 23.700 23,700 24,200 24,200 24,200 24,200 286,400 Net Profit (or Loss) 13.700 13,700 17,100 17,100 3,500 3,500 3,500 3,500 26,800 26,800 26,800 26,800 182,800 expected startup cost of about $200,000. 1. Prepare Balance sheet Balance Sheet Assets Current Assets Cash in Bank Cash value of Inventory Prepaid expenses Insurance Total current Assets a Fixed Assets Merchantry and Equipment Furniture and Fixture Real estate/ Buildings Total Fixed Assets Total Assets Liabilities and Net Worth Current Liabilities Account Payable Taxes Payable