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 Profit							$ 185,000.00
I See The Light
Projected Balance Sheet
As of December 31, 20x1
	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

please help !!!