I have attached a document of set up costs, cash flow, income statement and balance sheet. I need it all checked if its done correctly as well as i need the balance sheet answers of second and third year. i have done for the first year. it is just the second and third year remaining. and am not sure if the first year is done correct but i assume it is. if not please correct it too.

Set-up Costs Monthly Expenses Amount Administration costs Advertising and cost recovery Amenities Bank Fees Lease payments Electricity Travel Loan Repayment Installment Portable Internet Legal Fees Staff Wages Website Setup & Maintenance Postage Rent Telephone Travel Stationery 578.68 181.24 26.00 64.50 1,728.00 10.99 880.00 10.65 Total required for monthly expenses 3,480.06 Months Total 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 1,736.04 543.72 78.00 193.50 5,184.00 32.97 2,640.00 31.96 10,440.19 Capital Costs Equipment/Laptop Furniture Installation of equipment Inventory Licenses and Checks (DBS and CRB) Working capital Limited firm setup fee (incorporation) & Amazon Prime Membership 249.00 44.00 91.00 Total capital costs 384.00 Total Start-up Costs 10,824.19 Shareholder Investment Loan 2,000.00 10,000.00 Opening Balance 12,000.00 Administration Costs / month Business Insurance 66.68 Marketing Employee 512.00 Staff wages breakdown/ month per wk hrs/week per hr Marketing Employee 512.00 128.00 16.00 8.00 Kamarlah 1152.00 288.00 24.00 12.00 Gloria 576.00 144.00 16.00 9.00 Stationary Breakdown/ month Pens 2.82 Line paper 4.50 Printer service 3.34 Legal Fees/ month Accountancy 64.50 Equipments Laptop 249.00 Depreciation calculated at 25% according to 5 year of lifetime Loan Breakdown Loan amount 10,000 Loan term (years) 5 Interest rate (APR) 3.40% Monthly Pay # 60 Loan Payments Total Interest 181.24 10888.20 888.17 Annual Schedule #years Opening balance Interest Principal Closing balance 1 10,000.00 311.08 1866.56 8133.45 2 8133.45 246.64 1931.00 6202.44 3 6202.44 179.95 1997.69 4204.75 4 4204.75 110.94 2066.70 2138.06 5 2138.06 39.56 2138.08 0.00 Total Interest for the years below year 2-5 577.09 year 3-5 330.45 year 4-5 150.5 COST OF SALES ITEM 1 2 3 Internet Staff Wages Stationary List One 26.00 1,728.00 10.65 Two 26.00 1,728.00 10.65 Three 26.00 1,728.00 10.65 Four 26.00 1,728.00 10.65 Five 26.00 1,728.00 10.65 Six 26.00 1,728.00 10.65 Seven 26.00 1,728.00 10.65 Eight 26.00 1,728.00 10.65 Nine 26.00 1,728.00 10.65 Ten 26.00 1,728.00 10.65 Eleven 26.00 1,728.00 10.65 Twelve 26.00 1,728.00 10.65 TOTAL 312.00 20,736.00 127.80 TOTAL COSTS 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 21,175.80 439.80 SALES MIX # 1 2 3 Service English Lessons Number/month Selling price Total sales % of total sales January ONE February TWO March THREE April FOUR May FIVE June SIX July SEVEN August EIGHT September NINE October TEN November ELEVEN December TWELVE Total 15.00 Services 420.00 15.00 6,300.00 87.20 420.00 15.00 6,300.00 87.20 420.00 15.00 6,300.00 85.71 180.00 ### 2,700.00 75.95 160.00 15.00 2,400.00 76.68 200.00 15.00 3,000.00 96.15 120.00 15.00 1,800.00 96.77 120.00 15.00 1,800.00 96.77 340.00 15.00 5,100.00 97.70 400.00 15.00 6,000.00 88.24 400.00 15.00 6,000.00 82.19 120.00 15.00 1,800.00 72.43 CV Building Number/Month Selling price Total Sales % of total sales 20.00 15.00 300.00 4.15 20.00 15.00 300.00 4.15 20.00 15.00 300.00 4.08 7.00 ### 105.00 2.95 7.00 15.00 105.00 3.35 8.00 15.00 120.00 3.85 4.00 15.00 60.00 3.23 4.00 15.00 60.00 3.23 8.00 15.00 120.00 2.30 20.00 15.00 300.00 4.41 20.00 15.00 300.00 4.11 4.00 15.00 60.00 2.41 2,130.00 3.73 Coursework Feedback Number/Month Selling price Total Sales % of total sales 25.00 25.00 625.00 8.65 25.00 25.00 625.00 8.65 30.00 25.00 750.00 10.20 ### ### 750.00 21.10 25.00 25.00 625.00 19.97 25.00 - ### 25.00 - 25.00 - ### 25.00 - 20.00 25.00 500.00 7.35 40.00 25.00 1,000.00 13.70 25.00 25.00 625.00 25.15 5,500.00 9.63 7,225.00 1,764.65 7,225.00 1,764.65 7,350.00 1,764.65 3,555.00 1,764.65 3,130.00 1,764.65 3,120.00 1,764.65 1,860.00 1,764.65 1,860.00 1,764.65 5,220.00 1,764.65 6,800.00 1,764.65 7,300.00 1,764.65 2,485.00 1,764.65 57,130.00 21,175.80 24.42 24.42 24.01 49.64 56.38 56.56 94.87 94.87 33.81 25.95 24.17 71.01 37.07 5,460.35 5,460.35 5,585.35 1,790.35 1,365.35 1,355.35 95.35 95.35 3,455.35 5,035.35 5,535.35 720.35 35,954.20 Total income Total Cost of sales Average Price Yr1 Average Price Yr2 Average Price Yr2 3,300.00 49,500.00 86.64 142.00 English Classes English Lesssons 15.00 18.00 21.60 CV Building 15.00 18.00 21.60 Coursework 25.00 30.00 36.00 Avg Price 18.33 22.00 26.40 No. of stude Classes pe Classes pe Classes pe Classes pe Classes pe Classes pe Classes per Classes pe Classes pe Classes pe Classes pe Classes pe 60 7 7 7 3 3 4 2 2 5 7 7 2 per class 15 220.00 25200 336 % of COS Income after COS Total Stude Student pay 420 0 Total Reve Yearly Turn 6300 0 CV Builder explain and put in template of demand for each service!!! Put in a template for appendix No. of stud Charge per 20 15 Monthly tur 300 420 420 420 180 180 220 120 120 120 360 420 120 CASH FLOW Minimum cash flow required ITEM 1 INCOME English Classes 10,440.19 Increase in annual income growth 20% Jan 1 6,300.00 Feb 2 6,300.00 Mar 3 6,300.00 Apr 4 2,700.00 May 5 2,400.00 Jun 6 3,000.00 Jul 7 1,800.00 Aug 8 1,800.00 Sep 9 5,100.00 Oct 10 6,000.00 Nov 11 6,000.00 Dec 12 1,800.00 TOTAL 49,500 YEAR 2 59,400 YEAR 3 71,280 2 CV Building 300.00 300.00 300.00 105.00 105.00 120.00 60.00 60.00 120.00 300.00 300.00 60.00 2,130 2,556 3,067 3 Coursework Feedback 625.00 625.00 750.00 750.00 625.00 0.00 0.00 0.00 0.00 500.00 1,000.00 625.00 5,500 6,600 7,920 Total Sales 7,225.00 7,225.00 7,350.00 3,555.00 3,130.00 3,120.00 1,860.00 1,860.00 5,220.00 6,800.00 7,300.00 2,485.00 57,130.00 68,556.00 82,267.20 TOTAL INCOME 7,225.00 7,225.00 7,350.00 3,555.00 3,130.00 3,120.00 1,860.00 1,860.00 5,220.00 6,800.00 7,300.00 2,485.00 57,130.00 68,556.00 82,267.20 Less Returns 1,200.00 50.00 25.00 0.00 0.00 0.00 0.00 25.00 0.00 700.00 0.00 2,000.00 2,400 2,880 Cost of sales 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 1,764.65 21,175.80 23,293.38 25,622.72 Administration Legal fees Website Setup & Maintenance Rent Equipment License/Checks Emergency tutors Company Set up fee/Amazon Prime 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 578.68 64.50 6,944.16 774.00 19,332.99 851.40 23,199.59 936.54 10.99 880.00 249.00 44.00 140.00 91.00 10.99 880.00 0.00 0.00 140.00 0.00 10.99 880.00 0.00 44.00 140.00 0.00 10.99 660.00 0.00 0.00 0.00 0.00 10.99 660.00 0.00 0.00 0.00 0.00 10.99 880.00 0.00 0.00 70.00 0.00 10.99 440.00 0.00 0.00 0.00 0.00 10.99 440.00 0.00 44.00 0.00 0.00 10.99 880.00 0.00 88.00 70.00 0.00 10.99 880.00 0.00 0.00 140.00 0.00 10.99 880.00 0.00 0.00 140.00 0.00 10.99 440.00 0.00 0.00 70.00 0.00 131.88 8,800.00 249.00 220.00 910.00 91.00 145.07 9,680.00 0.00 231.00 955.50 79.00 159.57 10,648.00 0.00 242.55 1,003.28 79.00 Loan repayments 181.24 181.24 181.24 181.24 181.24 181.24 181.24 181.24 181.24 181.24 181.24 181.24 2,174.88 2,174.88 2,174.88 Total Expenses 5,204.06 3,670.06 3,689.06 3,260.06 3,260.06 3,550.06 3,040.06 3,109.06 3,638.06 4,320.06 3,620.06 3,110.06 43,470.72 59,143.22 66,946.13 1 2 3 Net Cash Flow Opening Balance Closing Balance 2,020.94 12,000.00 14,020.94 3,554.94 14,020.94 17,575.88 3,660.94 17,575.88 21,236.82 294.94 21,236.82 21,531.76 -130.06 21,531.76 21,401.70 -430.06 21,401.70 20,971.64 -1,180.06 20,971.64 19,791.58 -1,249.06 19,791.58 18,542.52 1,581.94 18,542.52 20,124.46 2,479.94 20,124.46 22,604.40 3,679.94 22,604.40 26,284.34 9,412.78 25,659.28 35,072.06 15,321.07 35,072.06 50,393.13 4 Cash flow 0.00 EXPENSES 1 2 3 4 5 6 7 8 9 -625.06 26,284.34 25,659.28 Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable Acceptable INCOME STATEMENT (PROFIT/LOSS) YEAR 1 YEAR 2 YEAR 3 INCOME Total Revenue Less Returns Net Revenue 57,130.00 2,000.00 55,130.00 Cost of Sales Cost of indirect goods/service Direct labour 100.00 68,556.00 2,400.00 66,156.00 100.00 82,267.20 2,880.00 79,387.20 100.00 439.80 20,736 Total cost of sales 21,175.80 38.41 23,293.38 35.21 25,622.72 32.28 Gross Profit 33,954.20 61.59 42,862.62 64.79 53,764.48 67.72 6,944.16 774.00 131.88 8,800.00 0.00 220.00 91.00 311.08 910.00 62.25 12.60 1.40 0.24 15.96 35.07 1.54 0.26 17.56 0.42 0.14 0.45 1.73 0.11 23,199.59 936.54 159.57 10,648.00 0.00 242.55 79.00 179.95 1,003.28 62.25 42.08 1.70 0.29 19.31 0.40 0.17 0.56 1.65 0.11 19,332.99 851.40 145.07 9,680.00 0.00 231.00 79.00 246.64 955.50 62.25 18,244.37 33.09 31,583.85 57.29 36,510.73 66.23 15,709.83 28.50 11,278.77 20.46 17,253.75 31.30 3,141.97 5.70 2,255.75 4.09 3,450.75 6.26 12,567.86 22.80 9,023.02 16.37 13,803.00 25.04 5,000.00 9.07 5,000.00 9.07 5,000.00 9.07 7,567.86 567.59 7,000.27 13.73 1.03 12.70 4,023.02 301.73 3,721.29 7.30 0.55 6.75 8,803.00 660.23 8,142.78 15.97 1.20 14.77 12,000.27 21.77 8,721.29 15.82 13,142.78 23.84 EXPENSES Administration Legal fees Website Setup & Maintenance Rent Equipment License/Checks Set up fee/Amazon Member Interest Emergency tutors Depreciation Total Expenses Net income before taxes Corporation tax (less than 300k) 20% Firm's net income after corp-tax Shareholder Dividend Allowance Divdend taxable income Basic tax, dividends over 5,000 Secondary Dividend income Total dividend income 7.5% 0.44 0.14 0.33 1.82 0.11 Balance Sheet YEAR 1 YEAR 2 YEAR 3 ITEM Fixed Assets Learning Equipment 186.75 124.50 62.25 Total Fixed Assets 186.75 124.50 62.25 Current Assets Cash 25,659.28 35,072.06 50,393.13 Total Current Assets 25,659.28 35,072.06 50,393.13 TOTAL ASSETS 25,846.03 35,196.56 50,455.38 Current Liabilities Accounts payable Corporation Tax 0.00 3,141.97 0.00 2,255.75 0.00 3,450.75 Total Current Liabilities 3,141.97 2,255.75 3,450.75 Long Term Liabilities Loan 8,136.20 5,714.68 3,359.85 Total Long Term Liabilities 8,136.20 5,714.68 3,359.85 TOTAL LIABILITIES 11,278.17 7,970.43 6,810.60 NET ASSETS 14,567.86 27,226.13 43,644.78 Capital Invested Retained Earnings Shareholders Equity 2,000.00 12,567.86 14,567.86 2,000.00 9,023.02 11,023.02 2,000.00 13,803.00 15,803.00 0.00 16,203.11 27,841.78 Balance solve year 2 and 3 Break-even YEAR 1 YEAR 2 Total sales 57,130.00 68,556.00 Total fixed costs 31,291.72 45,876.72 Total variable costs 10,179.00 10,866.50 18.33 3.27 22.00 3.49 2077 174 2479 207 38,078.33 3,190.00 54,538.00 4,554.00 Average sales price Unit variable costs Break-even ratios Unit sales per year Unit sales per month Sales per year Sales per month YEAR 3 82,267.20 52,172.30 11,893.83 26.40 3.82 2311 193 61,010.40 5,095.20 RATIOS YEAR 1 1 Gross profit 2 Net profit 3 Current ratio 4 Quick ratio 5 Net working capital 6 Total asset turnover 7 Debt ratio 8 Debt to equity 9 Fixed payment coverage 10 Return on Investment 11 Return on equity 61.59 28.50 8.17 8.17 22517.31 4.20 0.44 0.77 2.73 0.49 1.08 YEAR 2 64.79 20.46 15.55 15.55 32816.31 3.10 0.23 1.02 2.43 0.26 1.02 YEAR 3 67.72 31.30 14.60 14.60 46942.38 2.17 0.13 0.71 2.51 0.27 1.09