Earlier in this course, you chose a type of business and form of ownership for your health care company. Youve also come up with a mission statement, values and vision statement, and corporate goals. The final step is to create a Profit and Loss (AKA Income) Statement based on your health care business. Please complete the following steps for the health care business that you are creating in this class:

STEP 1: Review the Profit and Loss video to learn how to create your Profit and Loss Statement.

STEP 2: Open and save the Profit and Loss Statement template. Answer each question and scenario below using the template and figures as your guide.

1. Set up the attached Profit and Loss Statement for your health care business according to the Profit and Loss video.

2. After determining what your net profit is for the year, increase revenue for half of the year by 20% and raise expenses in each category by 5%.

3. Increase cost of goods by 25% and analyze how this affects your net profit. Please note that you will not have cost of goods sold if you are not selling inventory.

4. Write a one page summary of your projected revenue and expense increase based on your analysis. How does this affect your staff, productivity, or salaries?

5. Assume that next year your insured clients will pay 1/2 of what they did for your product/service during the first year of your company's business. How will this affect your bottom line?

Built business below

Examples and notes below

Company bag HOW MANY UNITS DO I NEED TO SELL TO BREAKEVEN? Date: November & 2017 200px by 50pa Given your profit margin, it is important to lno how many units of a certain product that you will need to sell in order to cover your fixed/startup costs. Use this calculator to determine the number of units required to breakeven plus the potential profit you could make on your anticipated sales volume ANALYSIS You would need to sell 14 units in ordler to cover your fxed costs I you sell your anticipated 2000 units then your profitloss would be $278.000. Unit Sales Breakeven Analysis Fixed Costs Sales Revenues Tots Operating Costs Units Sold Sales Revenues Variable Costs Fixed Costs Profit -2,000 -1,500 -1,000 571 1,143 10 17 1,000 1,500 25 28 32 4,571 571 SUMMARY OF INPUT Company bag HOW MANY UNITS DO I NEED TO SELL TO BREAKEVEN? Date: November & 2017 200px by 50pa Given your profit margin, it is important to lno how many units of a certain product that you will need to sell in order to cover your fixed/startup costs. Use this calculator to determine the number of units required to breakeven plus the potential profit you could make on your anticipated sales volume ANALYSIS You would need to sell 14 units in ordler to cover your fxed costs I you sell your anticipated 2000 units then your profitloss would be $278.000. Unit Sales Breakeven Analysis Fixed Costs Sales Revenues Tots Operating Costs Units Sold Sales Revenues Variable Costs Fixed Costs Profit -2,000 -1,500 -1,000 571 1,143 10 17 1,000 1,500 25 28 32 4,571 571 SUMMARY OF INPUT