Hey There,

Here is all the work I have done so fare and my question is the following ? Ho do I balance my balance sheet ? What are my mistakes ? What are the answers ?

Thank you so much

3 1 ASSUMPTIONS: 2 3 SALES BUDGET 4 Sales are made up 5 Cash sales represent 20% of sales 6 Credit sales represent 80% of sales 7 Cash sales are always collected on the same month 8 Credit sales are collected at 50% in 30 days and 50% in 60 days 9 10 COGS : Purchase Budget 11 COGS are equal to 20% of sales 12 Our desired ending inventory is 150% of next month's COGS 13 The begininglinventory is equal to last month's ending inventory 14 Purchases are paid at 70% next month and 30% in two month 15 16 Opex Budget 17 Wages are made up and increase 11% in february, fixed and paid the same month 18 Commissions are 15% of sales and paid 2 month after 19 Rent is made up and paid 1 month after 20 Advertising is made up, campagne in Mars, paid 75% same month and 25% one month after 21 Consulting are made up, paid 100% 30 days later every 3 months 22 Utilities are made up and paid 50% same month and 50% 30 days after 23 24 INCOME STATEMENT 25 no tax 26 27 CASH BUDGET 28 Wa maintain a minimum cash balance of $5 000 per month 29 Our begining cash is $5 000 30 31 32 BALANCE SHEET 33 Our begining accumulated depreciation is $10 000 34 Monthly depreciation is 500 35 36 37 CAPITAL BUDGET 38 Our begining gross fixed assets are $50 000 39 Begining accumulated depreciation is 10 000 40 Monthly depreciation is 500 41 ASSUMPTIONS 1 - SALES BUDGET 2-COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Dec Jan 46 850 Feb 88 365 Mar 122 330 Apr 143 645 5 000 May 181 110 jun 247 450 84 000 112 000 96 000 100 000 84 000 112 000 124 000 30 000 21 000 27 000 18 000 33 000 30 000 50 000 10 000 40 000 50 000 10 500 39 500 50 000 11 000 39 000 50 000 11 500 38 500 50 000 12 000 38 000 50 000 12 500 37 500 50 000 13 000 37 000 159 000 219 350 250 365 278 830 298 645 360 610 408 450 45 800 19 500 450 36 600 27 000 700 34 300 25 500 625 26 300 24 000 525 5 000 4 500 39 300 22 500 500 40 600 25 500 375 21 400 31 500 400 4 500 4 500 4 500 4 500 4 500 725 4 500 725 1 2 3 Cash 4 5 Account receivable 6 7 Inventory 8 9 Gross Fixed Assets 10 Accumulated Depreciation 11 Net Fixed Assets 12 13 Total Assets 14 15 Accounts Payable 16 Commissions payable 17 Utilities Payable 18 Advertising Payable 19 Rent payable 20 Consulting Payable 21 Interest Payable 22 Bank Debt 23 24 Total Liabilities 25 26 Owners' Equity 27 28 Liabilities + Equities 29 30 31 32 33 34 35 36 37 38 39 40 70 250 68 800 65 650 60 325 66 800 71 700 57 800 88 750 141 350 173 215 219 005 225 345 283 710 336 250 159.000 210 150 238 865 279 330 292 145 355 410 394 050 9 200 11 500 (500) 6 500 5 200 14 400 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 -Income Statement 2.1 - Balance Sheet + 1 Apr Jun Jan 100 000 Feb 70 000 14 000 56 000 Mar 90 000 18 000 72 000 May 110 000 22 000 88 000 60 000 12 000 48 000 20 000 TOTAL 530 000 106 000 424 000 100 000 20 000 80 000 80 000 6 000 15 000 4 500 1 400 500 6 660 10 500 4 500 1 250 500 6 660 13 500 4 500 1 050 500 6 660 9 000 4 500 1 000 500 6 660 16 500 4 500 750 500 6 660 15 000 4 500 800 500 39 300 79 500 27 000 6 250 3 000 1 450 20 000 176 500 725 725 20 000 41 660 27 400 24 135 26 210 29 635 27 460 52 600 31 865 45 790 6 340 58 365 52 540 247 500 2 3 Sales 4 COGS 5 Gross Profit 6 7 Operation Expenses: 8 Wages Commission 15% - 2 months 10 Rent 11 Utilities 12 Depreciation 13 Consulting 14 Advertising 15 Total OPEX 16 17 Operating Income 18 19 Interest Expense 20 21 Net Profit 22 23 24 25 26 27 28 29 29 29 30 30 31 32 34 33 34 19 35 36 30 37 37 38 39 40 52 600 31 865 45 790 6 340 58 36 58 365 52 540 247 500 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 -Income Statement 2.1 - Balance Sheet + 1 Jan Apr Jun Nov 50 000 Dec 50 000 Feb 50 000 Mar 50 000 May 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 10 000 2 3 Beginning Gross Fixed Assets 4 Capital Expenditures 5 Ending Gross Fixed Assets 6 6 7 Beginning Accumulated Depreciation 8 Depreciation expense 9 Ending Accumulated Depreciation 10 11 Net Fixed Assets 12 13 14 500 500 500 500 500 11 000 500 12 500 10 000 10 500 11 500 12 000 13 000 40 000 39 500 39 000 38 500 38 000 37 500 37 000 15 16 17 18 19 20 21 22 23 24 25 26 27 28 28 29 34 30 31 31 32 4 33 34 19 35 36 36 37 37 38 39 40 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Feb 46 850 Mar 88 365 Apr 122 330 May 143 645 Jun 181 110 86 000 86 000 76 000 82 000 88 000 19 000 20 000 24 485 9 000 43 035 27 000 27 685 25 535 21 660 44 485 52 035 54 685 44 535 21 660 41 515 33 965 21 315 37 465 66 340 88 365 5 000 122 330 5 000 143 645 5 000 181 110 5 000 247 450 5 000 88 365 122 330 143 645 181 110 247 450 1 2 Jan 3 Beginning Cash 5 000 4 5 Collections 72 000 6 7 7 Payments 8 For Purchases 11 000 9 For Operating Expenses 19 150 10 Capital Expenditures 11 Total Payments 30 150 12 13 Collections - Payements 41 850 14 15 Ending Cash 46 850 16 Minimum Cash Bal. . 5 000 17 18 Debt Required (41 850) 19 20 Ending Cash 46 850 21 22 Cummilative Debt (41 850) 23 Interest 12% per year (419) 24 25 26 27 28 29 30 31 32 33 34 35 3 36 37 38 39 40 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Jan Jun Nov 50 000 Dec 80 000 Feb 70 000 Mar 90 000 Apr 60 000 May 110 000 100 000 100 000 6 000 7 500 4 500 1 100 500 725 6 000 12 000 4 500 900 500 6 000 15 000 4 500 1 400 500 6 660 10 500 4 500 1250 500 725 6 660 13 500 4 500 1050 500 6 660 9 9 000 4 500 1 000 500 6 660 16 500 4 500 750 500 725 6 660 15 000 4 500 800 500 1 2 3 Sales 4 4 5 6 Wages 7 Commission 15% - 2 months 8 Rent 9 Utilities 10 Depreciation 11 Consulting 12 Advertising 13 Total OPEX 14 15 Cash Payments 16 Wages 17 Commission 18 Rent 19 Utilities 20 Consulting 21 Advertising 22 Total Payments 20 000 41 660 20 325 23 900 27 400 24 135 26 210 29 635 27 460 220 725 6 000 6 6 6 000 6 000 7 500 4 500 1 150 6 660 12 000 4 500 1 325 6 660 10 500 4 500 1 025 6 660 15 000 4 500 1 150 725 15 000 43 035 6 660 13 500 4 500 875 4 500 1 000 725 550 6660 9 000 4 500 775 725 5 000 27 685 6 550 12 225 19 150 24 485 25 535 21 660 180 325 23 22 500 4 500 500 25 500 4 500 375 31 500 4 500 400 725 27 500 31 100 36 400 230 300 24 Commissions payable 7 500 19 500 27 000 25 500 24 000 25 Rent payable 4 500 4 500 4 500 4 500 4 500 26 Utilities Payable 550 450 700 625 525 27 Consulting Payable 725 725 28 Advertising Payable 5 000 29 Total Payable 13 275 24 450 32 200 31 350 34 025 30 31 32 33 Opex Budget 34 Wages are made up and increase 11% in february, fixed and paid the same month 35 Commissions are 15% of sales and paid 2 month after 36 Rent is made up and paid 1 month after 37 Utilities are made up and paid 50% same month and 50% 30 days after 38 Consulting fees are made up, paid every 3 months 39 Advertising is made up, campaign in Mars, paid 75% the same month, 25% 1 month after 40 41 42 43 44 45 46 ASSUMPTIONS 1 - SALES BUDGET 2-COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + 1 Nov Mar Dec 80 000 Jan 100 000 Feb 70 000 Apr 60 000 50 000 90 000 May 110 000 Jun 100 000 10 000 16 000 20 000 14 000 18 000 12 000 22 000 20 000 24 000 30 000 21 000 27 000 18 000 33 000 30 000 34 000 46 000 41 000 41 000 36 000 45 000 52 000 20 000 34 000 24 000 30 000 21 000 27 000 18 000 33 000 30 000 34 000 22 000 11 000 20 000 9 000 27 000 19 000 23 800 7 700 15 400 10 200 25 600 6 600 14 000 3 300 17 300 6 300 6 000 12 300 18 900 2 700 21 600 13 300 8 100 21 400 23 800 14 300 34 000 45 800 36 600 34 300 26 300 39 300 40 600 21 400 2 3 Total Sales 4 5 5 COGS 20% 6 7 Desired Ending Inventory 8 9 Total Needed 10 11 Beginning Inventory 12 13 Purchases 14 15 Payments 16 10 30 days 17 17 60 days 18 Total Payments 19 19 20 Accounts Payable 21 2 22 24 23 24 24 2 25 20 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Feb Dec 80 000 Jan 100 000 70 000 Mar 90 000 Apr 60 000 May 110 000 Jun 100 000 16 000 64 000 20 000 80 000 14 000 56 000 18 000 72 000 12 000 48 000 22 000 88 000 20 000 80 000 16 000 20 000 20 000 32 000 20 000 72 000 14 000 40 000 32 000 86 000 18 000 28 000 40 000 86 000 12 000 36 000 28 000 76 000 22 000 24 000 36 000 20 000 44 000 24 000 36 000 82 000 88 000 84 000 112 000 96 000 100 000 84 000 112 000 124 000 1 2 Nov 3 Total Sales 50 000 4 5 Cash sales 10 000 6 Credit sales 40 000 7 8 Cash Collections: 9 Cash sales 10 000 10 Credit sales back 1 month 11 Credit sales back 2 months 12 Total collections 10 000 13 12 14 Account receivable 40 000 15 10 16 17 17 10 18 10 19 20 20 22 21 2 22 23 22 24 25 ac 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 -Income Statement 2.1 - Balance Sheet + 3 1 ASSUMPTIONS: 2 3 SALES BUDGET 4 Sales are made up 5 Cash sales represent 20% of sales 6 Credit sales represent 80% of sales 7 Cash sales are always collected on the same month 8 Credit sales are collected at 50% in 30 days and 50% in 60 days 9 10 COGS : Purchase Budget 11 COGS are equal to 20% of sales 12 Our desired ending inventory is 150% of next month's COGS 13 The begininglinventory is equal to last month's ending inventory 14 Purchases are paid at 70% next month and 30% in two month 15 16 Opex Budget 17 Wages are made up and increase 11% in february, fixed and paid the same month 18 Commissions are 15% of sales and paid 2 month after 19 Rent is made up and paid 1 month after 20 Advertising is made up, campagne in Mars, paid 75% same month and 25% one month after 21 Consulting are made up, paid 100% 30 days later every 3 months 22 Utilities are made up and paid 50% same month and 50% 30 days after 23 24 INCOME STATEMENT 25 no tax 26 27 CASH BUDGET 28 Wa maintain a minimum cash balance of $5 000 per month 29 Our begining cash is $5 000 30 31 32 BALANCE SHEET 33 Our begining accumulated depreciation is $10 000 34 Monthly depreciation is 500 35 36 37 CAPITAL BUDGET 38 Our begining gross fixed assets are $50 000 39 Begining accumulated depreciation is 10 000 40 Monthly depreciation is 500 41 ASSUMPTIONS 1 - SALES BUDGET 2-COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Dec Jan 46 850 Feb 88 365 Mar 122 330 Apr 143 645 5 000 May 181 110 jun 247 450 84 000 112 000 96 000 100 000 84 000 112 000 124 000 30 000 21 000 27 000 18 000 33 000 30 000 50 000 10 000 40 000 50 000 10 500 39 500 50 000 11 000 39 000 50 000 11 500 38 500 50 000 12 000 38 000 50 000 12 500 37 500 50 000 13 000 37 000 159 000 219 350 250 365 278 830 298 645 360 610 408 450 45 800 19 500 450 36 600 27 000 700 34 300 25 500 625 26 300 24 000 525 5 000 4 500 39 300 22 500 500 40 600 25 500 375 21 400 31 500 400 4 500 4 500 4 500 4 500 4 500 725 4 500 725 1 2 3 Cash 4 5 Account receivable 6 7 Inventory 8 9 Gross Fixed Assets 10 Accumulated Depreciation 11 Net Fixed Assets 12 13 Total Assets 14 15 Accounts Payable 16 Commissions payable 17 Utilities Payable 18 Advertising Payable 19 Rent payable 20 Consulting Payable 21 Interest Payable 22 Bank Debt 23 24 Total Liabilities 25 26 Owners' Equity 27 28 Liabilities + Equities 29 30 31 32 33 34 35 36 37 38 39 40 70 250 68 800 65 650 60 325 66 800 71 700 57 800 88 750 141 350 173 215 219 005 225 345 283 710 336 250 159.000 210 150 238 865 279 330 292 145 355 410 394 050 9 200 11 500 (500) 6 500 5 200 14 400 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 -Income Statement 2.1 - Balance Sheet + 1 Apr Jun Jan 100 000 Feb 70 000 14 000 56 000 Mar 90 000 18 000 72 000 May 110 000 22 000 88 000 60 000 12 000 48 000 20 000 TOTAL 530 000 106 000 424 000 100 000 20 000 80 000 80 000 6 000 15 000 4 500 1 400 500 6 660 10 500 4 500 1 250 500 6 660 13 500 4 500 1 050 500 6 660 9 000 4 500 1 000 500 6 660 16 500 4 500 750 500 6 660 15 000 4 500 800 500 39 300 79 500 27 000 6 250 3 000 1 450 20 000 176 500 725 725 20 000 41 660 27 400 24 135 26 210 29 635 27 460 52 600 31 865 45 790 6 340 58 365 52 540 247 500 2 3 Sales 4 COGS 5 Gross Profit 6 7 Operation Expenses: 8 Wages Commission 15% - 2 months 10 Rent 11 Utilities 12 Depreciation 13 Consulting 14 Advertising 15 Total OPEX 16 17 Operating Income 18 19 Interest Expense 20 21 Net Profit 22 23 24 25 26 27 28 29 29 29 30 30 31 32 34 33 34 19 35 36 30 37 37 38 39 40 52 600 31 865 45 790 6 340 58 36 58 365 52 540 247 500 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 -Income Statement 2.1 - Balance Sheet + 1 Jan Apr Jun Nov 50 000 Dec 50 000 Feb 50 000 Mar 50 000 May 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 50 000 10 000 2 3 Beginning Gross Fixed Assets 4 Capital Expenditures 5 Ending Gross Fixed Assets 6 6 7 Beginning Accumulated Depreciation 8 Depreciation expense 9 Ending Accumulated Depreciation 10 11 Net Fixed Assets 12 13 14 500 500 500 500 500 11 000 500 12 500 10 000 10 500 11 500 12 000 13 000 40 000 39 500 39 000 38 500 38 000 37 500 37 000 15 16 17 18 19 20 21 22 23 24 25 26 27 28 28 29 34 30 31 31 32 4 33 34 19 35 36 36 37 37 38 39 40 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Feb 46 850 Mar 88 365 Apr 122 330 May 143 645 Jun 181 110 86 000 86 000 76 000 82 000 88 000 19 000 20 000 24 485 9 000 43 035 27 000 27 685 25 535 21 660 44 485 52 035 54 685 44 535 21 660 41 515 33 965 21 315 37 465 66 340 88 365 5 000 122 330 5 000 143 645 5 000 181 110 5 000 247 450 5 000 88 365 122 330 143 645 181 110 247 450 1 2 Jan 3 Beginning Cash 5 000 4 5 Collections 72 000 6 7 7 Payments 8 For Purchases 11 000 9 For Operating Expenses 19 150 10 Capital Expenditures 11 Total Payments 30 150 12 13 Collections - Payements 41 850 14 15 Ending Cash 46 850 16 Minimum Cash Bal. . 5 000 17 18 Debt Required (41 850) 19 20 Ending Cash 46 850 21 22 Cummilative Debt (41 850) 23 Interest 12% per year (419) 24 25 26 27 28 29 30 31 32 33 34 35 3 36 37 38 39 40 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Jan Jun Nov 50 000 Dec 80 000 Feb 70 000 Mar 90 000 Apr 60 000 May 110 000 100 000 100 000 6 000 7 500 4 500 1 100 500 725 6 000 12 000 4 500 900 500 6 000 15 000 4 500 1 400 500 6 660 10 500 4 500 1250 500 725 6 660 13 500 4 500 1050 500 6 660 9 9 000 4 500 1 000 500 6 660 16 500 4 500 750 500 725 6 660 15 000 4 500 800 500 1 2 3 Sales 4 4 5 6 Wages 7 Commission 15% - 2 months 8 Rent 9 Utilities 10 Depreciation 11 Consulting 12 Advertising 13 Total OPEX 14 15 Cash Payments 16 Wages 17 Commission 18 Rent 19 Utilities 20 Consulting 21 Advertising 22 Total Payments 20 000 41 660 20 325 23 900 27 400 24 135 26 210 29 635 27 460 220 725 6 000 6 6 6 000 6 000 7 500 4 500 1 150 6 660 12 000 4 500 1 325 6 660 10 500 4 500 1 025 6 660 15 000 4 500 1 150 725 15 000 43 035 6 660 13 500 4 500 875 4 500 1 000 725 550 6660 9 000 4 500 775 725 5 000 27 685 6 550 12 225 19 150 24 485 25 535 21 660 180 325 23 22 500 4 500 500 25 500 4 500 375 31 500 4 500 400 725 27 500 31 100 36 400 230 300 24 Commissions payable 7 500 19 500 27 000 25 500 24 000 25 Rent payable 4 500 4 500 4 500 4 500 4 500 26 Utilities Payable 550 450 700 625 525 27 Consulting Payable 725 725 28 Advertising Payable 5 000 29 Total Payable 13 275 24 450 32 200 31 350 34 025 30 31 32 33 Opex Budget 34 Wages are made up and increase 11% in february, fixed and paid the same month 35 Commissions are 15% of sales and paid 2 month after 36 Rent is made up and paid 1 month after 37 Utilities are made up and paid 50% same month and 50% 30 days after 38 Consulting fees are made up, paid every 3 months 39 Advertising is made up, campaign in Mars, paid 75% the same month, 25% 1 month after 40 41 42 43 44 45 46 ASSUMPTIONS 1 - SALES BUDGET 2-COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + 1 Nov Mar Dec 80 000 Jan 100 000 Feb 70 000 Apr 60 000 50 000 90 000 May 110 000 Jun 100 000 10 000 16 000 20 000 14 000 18 000 12 000 22 000 20 000 24 000 30 000 21 000 27 000 18 000 33 000 30 000 34 000 46 000 41 000 41 000 36 000 45 000 52 000 20 000 34 000 24 000 30 000 21 000 27 000 18 000 33 000 30 000 34 000 22 000 11 000 20 000 9 000 27 000 19 000 23 800 7 700 15 400 10 200 25 600 6 600 14 000 3 300 17 300 6 300 6 000 12 300 18 900 2 700 21 600 13 300 8 100 21 400 23 800 14 300 34 000 45 800 36 600 34 300 26 300 39 300 40 600 21 400 2 3 Total Sales 4 5 5 COGS 20% 6 7 Desired Ending Inventory 8 9 Total Needed 10 11 Beginning Inventory 12 13 Purchases 14 15 Payments 16 10 30 days 17 17 60 days 18 Total Payments 19 19 20 Accounts Payable 21 2 22 24 23 24 24 2 25 20 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 - Income Statement 2.1 - Balance Sheet + Feb Dec 80 000 Jan 100 000 70 000 Mar 90 000 Apr 60 000 May 110 000 Jun 100 000 16 000 64 000 20 000 80 000 14 000 56 000 18 000 72 000 12 000 48 000 22 000 88 000 20 000 80 000 16 000 20 000 20 000 32 000 20 000 72 000 14 000 40 000 32 000 86 000 18 000 28 000 40 000 86 000 12 000 36 000 28 000 76 000 22 000 24 000 36 000 20 000 44 000 24 000 36 000 82 000 88 000 84 000 112 000 96 000 100 000 84 000 112 000 124 000 1 2 Nov 3 Total Sales 50 000 4 5 Cash sales 10 000 6 Credit sales 40 000 7 8 Cash Collections: 9 Cash sales 10 000 10 Credit sales back 1 month 11 Credit sales back 2 months 12 Total collections 10 000 13 12 14 Account receivable 40 000 15 10 16 17 17 10 18 10 19 20 20 22 21 2 22 23 22 24 25 ac 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 ASSUMPTIONS 1 - SALES BUDGET 2 - COGS 2.2 - OpEx Budget 1.2 - CASH BUDGET 2.3 - Capital Budget 1.3 -Income Statement 2.1 - Balance Sheet +