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The Hybrid Auto Care Center, Pro Forma Income Statement for Years Ending 31 December 2005, 2006, and 2007 2005 2006 2007 Revenues $250,000 $450,000 $700,000 Expenses Owner's salary Employee salaries Benefits Workers insurance 35,000 70,000 26,250 7,000 42,000 50,000 90,000 35,000 8,000 70,000 150,000 55,000 14,000 42,000 14,000 4,000 20,000 6,000 15,000 140,000 9,000 42,000 Equipment loan 1* Equipment loan 2* Insurance Shop rent Utilities Other 3,500 20,000 5,500 5,000 50,000 7,000 $271,250 3,800 20,000 5,700 8,000 90,000 8,000 Parts & materials Advertising $360,500 $89,500 26,850 $62.650 $539,000 $161,000 48,300 Total expenses Profits before tax ($21,250) 0 Tax Profits after tax ($21.250) $112.700 $300,000 loan@9% 12 years .* $100,000 loan@9% 12 years