I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales 25,000 lamps @ $45.00 $1,125,000.00 Cost of Goods Sold @ $30.00 750,000.00 Gross Profit $ 375,000.00 Selling Expenses: ' Fixed $23,000.00 Variable (Commission per unit) @ $3.00 75,000.00 $ 98,000.00 Administrative Expenses; Fixed $42,000.00 Variable @ $2.00 50,000.00 92,000 00 Total Selling and Administrative Expenses: 190,000.00 Net Prot ' $ 185,000.00 I See The Light Projected Balance Sheet t, As of December 31, 20x1 \" Introduction FAQ A B C D E F G H Current Assets Cash $ 34,710.00 Accounts Receivable 67,500.00 Inventory Raw Material Lamp Kits 500 @ $16.00 8,000.00 Work in Process 0 Finished Goods 3000 @ $30.00 90,000 00 Total Current Assets $ 200,210.00 Fixed Assets Equipment $ 20,000.00 Accumulated Depreciation 6,800.00 Total Fixed Assets 13,200.00 Total Assets $ 213,410.00 Current Liabilities Accounts Payable $ 54,000.00 Total Liabilities $ 54,000.00 Stockholder's Equity Common Stock $ 12,000.00 Retained Earnings 147,410.00 Total Stockholder's Equity 159,410.00 Total Liabilities and Stockholder's Equity $ 213,410.00 Introduction FAQ 2 3 4 5 6 7 8 9 10 11 12 ...ease. 0 l . "I Budgeted Income Statement ' _ Sales ' 7 Cost of Goods Sold 't'e Gross Profit '19 Selling Expenses & Admin. Expenses 20 Netlncome 8 Cash Budget 41 \"07 1,300,000.00 $ $ 823,803.00 $ 476,197.00 4? Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and {BL Payables of 12I31Ix1 wiil have a cash impact in 20x2.) 44 $211,750.00 l 204.447.00 _ 1. 24.00% of sales for the year are made in November and December. Since our customers have 60 day terms those funds will be collected be collected in January and February. ._; 2. 83.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 3. All other manufacturing and operating costs are paid for when incurred. F El\": 4. The budgeted depreciation expense is equal to 0.6% of the xed manufacturing, selling and administrative expenses. 5. Minimum Cash Balance needed for 20x2, $180,000 . | See The Light Projected Cash Budget For the Year Ending December 31, 20x2 14l15l 16 17 l 18 Present Value Tables Site Alignment Number Styles Cells A BC D E F G H J K Round dollars to two 68 places, $## ## 76 Beginning Cash Balance $ 34,710.000 77 Cash Inflows: 78 Sales Collections: 79 Account Receivable (Sales last year not collected) $ 67,500.00 {10.02} 80 Sales made and collected in 20x2 (10.08) 88 Cash Available (10 04) 89 90 Cash Outflows: 91 Purchases 92 Accounts Payable (Purchases last year) $ 54,000.000 100 Purchases made and paid for in 20x2 344,762.08 {10.05} 101 Other Manufacturing Costs 102 Direct Labor 103 Total Manufacturing Overhead 104 Selling and Administrative 112 Less: Depreciation (10.06} 113 Total Cash Outflows (10.07) 114 115 Budgeted Cash Balance before financing (10.08) 116 Needed Minimum Balance 117 118 Amount to be borrowed (if any) (10.09) 119 120 Budgeted Cash Balance (10.10} 121 122 172 se 9 10 11 12 13 14 15 16 17 18 Present Value Tables + Q Search