Create an Income statement (Profit & losses) table for steak n' shake ,for 1 year of operation base on the given tables. The 1st two represents the start-up analysis and the last two represent the balance sheet. (mutiply each month by a certain percentage) Steak 'n Shake Start-Up Analysis Projected Start-Up Costs Cost in USD Initial Franchise Fee $50,000 Land and Building Development Costs $60,000 Additional Development Costs $25,000 Equipment, Furnitures, etc $4,500 $8,000 Electronic Cash Register/Retail Technology $7,000 Computer Hardware and Software $5,000 Licenses, Permits, Fees, and Deposits $8,000 Opening Inventory $5,000 Miscellaneous Opening Costs Uniforms $1,000 Insurance $2,500 Training $1,000 $5,000 Marketing and Promotion Costs Additional Funds for first 3 months of Operations $3,000 Total Start-Up Costs $185,000 Projected Financing Sources Personal Investment $40,000 Franchisor Financing Loan $25,000 Government backed loan $25,000 Credit Union Loan $25,000 Small Business Administration Grants $20,000 Steak 'n Shake Franchise Grant $20.000 Funding from various donors $30,000 Total Financing Sources $185.000 Balance Sheet Column1 Column2 Columns Column4 Columns Beginning Balance Sheet Current Assets Current Liabilities Cash 250,000 Accounts Payable 172,500 Cash and Equivalents 7,500 Accrued Payroll Inventory 15,000 0 Taxes Payable 0 0 Prepaid Expenses Accrued Expenses 0 172,500 Other Current Assets Total Current Liabilities Total Current Assets 272.500 Other Current Assets Total Current Liabilities 172,500 Total Current Assets 272,500 Fixed Assets Long Term Liabilities 0 Long-Term Investments $0.00 Long-Term Debt 0 Building $0.00 Capital Lease Obligations 0 Equipment So Furniture, etc $0 Total Fixed Assets Total Long Term Liabilities 0 Other Assets Shareholder's Equity Capital Stock 100,000 Retained Earnings Total Shareholder's Equity 100,000 Total Other Assets 0 Total Shareholder's Equity 100.000 Owners Equity 100,000 Total Liabilities & Net Worth 272,500 Create an Income statement (Profit & losses) table for steak n' shake ,for 1 year of operation base on the given tables. The 1st two represents the start-up analysis and the last two represent the balance sheet. (mutiply each month by a certain percentage) Steak 'n Shake Start-Up Analysis Projected Start-Up Costs Cost in USD Initial Franchise Fee $50,000 Land and Building Development Costs $60,000 Additional Development Costs $25,000 Equipment, Furnitures, etc $4,500 $8,000 Electronic Cash Register/Retail Technology $7,000 Computer Hardware and Software $5,000 Licenses, Permits, Fees, and Deposits $8,000 Opening Inventory $5,000 Miscellaneous Opening Costs Uniforms $1,000 Insurance $2,500 Training $1,000 $5,000 Marketing and Promotion Costs Additional Funds for first 3 months of Operations $3,000 Total Start-Up Costs $185,000 Projected Financing Sources Personal Investment $40,000 Franchisor Financing Loan $25,000 Government backed loan $25,000 Credit Union Loan $25,000 Small Business Administration Grants $20,000 Steak 'n Shake Franchise Grant $20.000 Funding from various donors $30,000 Total Financing Sources $185.000 Balance Sheet Column1 Column2 Columns Column4 Columns Beginning Balance Sheet Current Assets Current Liabilities Cash 250,000 Accounts Payable 172,500 Cash and Equivalents 7,500 Accrued Payroll Inventory 15,000 0 Taxes Payable 0 0 Prepaid Expenses Accrued Expenses 0 172,500 Other Current Assets Total Current Liabilities Total Current Assets 272.500 Other Current Assets Total Current Liabilities 172,500 Total Current Assets 272,500 Fixed Assets Long Term Liabilities 0 Long-Term Investments $0.00 Long-Term Debt 0 Building $0.00 Capital Lease Obligations 0 Equipment So Furniture, etc $0 Total Fixed Assets Total Long Term Liabilities 0 Other Assets Shareholder's Equity Capital Stock 100,000 Retained Earnings Total Shareholder's Equity 100,000 Total Other Assets 0 Total Shareholder's Equity 100.000 Owners Equity 100,000 Total Liabilities & Net Worth 272,500