Frank is 6 months into the business and believes he is doing very well. He started his business on February 1, at a stand in South Beach (Miami). Hes not an accountant, but what he knows about the financial information is as follows:

Month	Sales (quantity)
February	1,500
March	1,800
April	3,000
May	2,000
June	1,000
July	750

By Franks calculations, he has made 10,050 (quantity) of total sales and believes his profit is $40,200 (10,050 sales x $4 profit margin ($6 selling price less $2 cost). He believes the next 6 months would average out much like the first, and hes comfortable making $80,400 per year.

1. A partial balance sheet that will list the types of assets you need (less than 1 page in total). You should include the following items [cart, hot dogs, buns, mustard, ketchup] and add up to 5 more of your own choosing.

You can use the assets and expenses that were discussed during the week 3 group brainstorm on part I of the project. You may also want to refer to the following sites or do research on your own to get some idea of basic pricing.

• http://www.viennabeef.com/hot-dog-university
• http://amazingribs.com/recipes/hot_dogs_and_sausages/starting_a_hot_dog_stand.html

Frank's				Back to Main
BALANCE SHEETS
	December 31, 2014
Assets (expand the list to include all assets)
Current assets:
Cash and cash equivalents	$ 10,610
Accounts receivable	13,643
Inventories	1,351
Other	3,614
Total current assets	72,513
Property and equipment, net of accumulated depreciation of ____	8,010
Total assets	$ 112,243

change numbers in balance sheet to reflect your own pricing on ketchup, mustard, buns, hot dogs, cart, and 5 others of your own choosing