I want your group to assume you have $100K startup capital and you are starting a business. If $100K is not enough, you will have to take a loan for purposes of this assignment (just stipulate the amount of the loan taken, and the terms).

Create a first year prospectus budget for the income statement. Estimate your monthly revenues and expenses for this first year, and then make sure to write up how you obtained these numbers....I left a little quick write-up I did during lunch for an imaginary gym business....you can use this as an example, but make sure to not mimic...use your knowledge.

Also, my write-up was meant for representation purposes...I want your write-up to be more detailed, and professional, than the example I left in the template. Very important you take this into account....if your write-up isn't more detailed than my quick and dirty example, you are on the WRONG track!

Some hints to remember....all cash expenditures are either expenses or capital expenditures. Make sure that capitalized expenditures are depreciated (create a chart to calculate depreciation, like the one in the template). For leased items make sure to indicate the terms of the lease. For wages make sure to describe the employees you will have on payroll and their pay rate. You get the drift....I'm basically asking you to create a budget for a new business venture, and explain the numbers. This is big boy/big girl type of stuff. Show me you're ready for the business world!