Create a projected 12-Month Income Statement also called Profit & Loss (Chapter 17). This statement will give you a good idea of what it will take to make a profit. Your sales projections will come from a sales forecast in which you forecast sales, cost of goods sold, expenses, and profit, month-by-month, for one year. Profit projections should be accompanied by a narrative explaining the major assumptions used to estimate income and expenses. There are a number of free Projected Profit & Loss templates available online.

4) Create a projected 12-Month Statement of Cash Flows (Ch. 17). The Statement of Cash Flows reports cash receipts and cash disbursements over a period of time using cash-basis accounting. Remember, this means income and expenses are recognized on this report when cash actually comes in or goes out. You can follow the samples in the text book or use a template from the internet

5) Create a projected Balance Sheet (Ch. 17). This is your net worth (i.e., A = L + OE). You can follow the samples in the textbook or use a template from the internet.

DDont know if this will work. This is a coffee shop

Monthly rent ($4993.33/month) Coffee machines (3 machines (1799.99 each) =~ $5400 Utility ($101.50/month) Logo designer ($60/hr, 91 success rate 15hrs) = $900 Permit and license ($3,250) Inventory (~$2,000/month) N/A Insurance ($25/month (NEXT Ins.)) N/A Salary (3 employees) - $13/hr (min wage) N/A Salary for me: beginning $29,462 Monthly rent ($4993.33/month) Coffee machines (3 machines (1799.99 each) =~ $5400 Utility ($101.50/month) Logo designer ($60/hr, 91 success rate 15hrs) = $900 Permit and license ($3,250) Inventory (~$2,000/month) N/A Insurance ($25/month (NEXT Ins.)) N/A Salary (3 employees) - $13/hr (min wage) N/A Salary for me: beginning $29,462