Exhibits:

Financial Information Projected for 20X2 Average sales price $25 Average sales units 50,000 Gross margin 40% Selling expenses/sales 10% Tax rate 21% Depreciation $100,000 Interest expenses $56,000 Maintenance expenses $10,000Rental Options X To: William Elliot From: Dave Jackson Date: November 3, 20X1 RE: Rental Options Dear Mr. Elliot, Per your request, we will put your warehouse located at 3875 Main Street up for rent on January 1, 20X2. We have received the following inquiries and quotations: 1. A local manufacturer offering to rent the warehouse for 3 years at a monthly rent of $3,000 2. A local retailer offering to rent the warehouse for 2 years at an annual rent of $35,000 Please let me know if you have any questions. We are looking forward to serving you. Yours Sincerely, Dave Jackson Real Property Specialist Best Match PropertiesWilliam Elliott is a wholesale industry consultant. After working with and building relationships with various clients, he decided to end his job as a consultant (with an annual salary of $90,000) and open his own retail store starting January 1, 20X2. William remodelled a warehouse he owns to use as the store. For each of the following items, enter the appropriate amount for 20X2 in the associated cell. Enter all amounts as whole numbers. Use a leading minus sign (-) to indicate losses. If no amount is required, enter a zero (0) or leave the cell blank. Ignore the time value of money in the calculations. Item Amount FORMATTED RESPONSE 1. Revenue 123 2. Explicit costs 123 RESET CANCEL ACCEPT 3. Implicit costs 23 4. Accounting profit (loss) 123 5. Economic profit (loss) 123