Income Statement 2020 2021 2022 2023 2024 2025 2026 Revenues $ 2,830,000.00 $ 3,245,600.00 $ 4,057,000.00 $ 5,071,250.00 $ 6,339,062.50 $ 7,289,921.88 $ 8,383,410.16 Cost of Goods Sold $ 1,520,000.00 $ Gross Profit $ 1,310,000.00 $ 1,740,000.00 $ 2,175,000.00 $ 2,718,750.00 $ 1,505,600.00 $ 3,398,437.50 $ 3,908,203.13 $ 4,494,433.59 1,882,000.00 $ 2,352,500.00 $ 2,940,625.00 $ 3,381,718.75 $ 3,888,976.56 Administrative Expenses $ 345,000.00 $ 389,000.00 $ 427,900.00 $ 470,690.00 $ 517,759.00 $ 554,002.13 $ 592,782.28 Rents and Leases $ 120,000.00 $ 124,000.00 $ 124,000.00 $ 124,000.00 $ 124,000.00 $ 124,000.00 $ 124,000.00 Marketing Expenses $ 310,000.00 $ 345,000.00 $ 431,250.00 $ 539,062.50 $ 673,828.13 $ 774,902.34 $ EBITDA $ 535,000.00 $ 647,600.00 $ Depreciation $ 54,000.00 $ 64,200.00 $ EBIT $ 481,000.00 $ Interest Expenses $ 38,160.00 $ EBT $ 442,840.00 $ Taxes Net Income $ 132,852.00 $ $ 309,988.00 $ 583,400.00 $ 37,777.25 $ 545,622.75 $ 163,686.83 $ 381,935.93 $ 898,850.00 $ 1,218,747.50 $ 64,200.00 $ 80,250.00 $ 834,650.00 $ 1,138,497.50 $ 37,777.25 $ 37,777.25 $ 796,872.75 $1,100,720.25 $ 239,061.83 $ 776,325.00 $ 557,810.92 $ 442,422.50 $ 1,625,037.88 $ 1,928,814.28 $ 891,137.70 2,281,056.59 100,312.50 $ 1,524,725.38 $ 37,777.25 $ 1,486,948.13 $ 115,359.38 $ 1,813,454.90 $ 37,777.25 $ 1,775,677.65 $ 132,663.28 2,148,393.31 37,777.25 2,110,616.06 970,406.25 $ 654,631.63 $ 1,115,967.19 $ 1,283,362.27 812,847.09 $ 997,694.32 Balance Sheet Cash Surplus Cash Accounts Receivable 0 $ 40,528.00 $ 0 $ $ 34,847.93 $ $ 304,333.85 0 $ 220,000.00 $ 444,200.00 $ Prepaid Expenses 0 $ 56,000.00 $ 62,000.00 $ - $ 587,800.00 102,400.00 $ $ $ Inventories 0 $ 305,000.00 $ 487,000.00 $ 720,450.00 Total Current Assets 0 $ 621,528.00 $ 1,028,047.93 $ 1,714,983.85 Gross Fixed Assets 0 $ 540,000.00 $ 642,000.00 $ 642,000.00 Accumulated Depreciation 0 $ 54,000.00 $ 118,200.00 $ 182,400.00 Net Fixed Assets 0 $ 486,000.00 $ 523,800.00 $ 459,600.00 Total Assets 0 $ 1,107,528.00 $ 1,551,847.93 $ 2,174,583.85 0 Accounts Payable 0 $ 145,000.00 $ 205,400.00 $ 256,750.00 Accruals 0 $ 47,000.00 $ 54,300.00 $ 67,875.00 Bank Loan 0 $ 180,000.00 $ 174,684.00 $ 174,684.00 Total Current Liabilities 0 $ 372,000.00 $ 434,384.00 $ 499,309.00 0 Long-term debt 0 $ 300,000.00 $ 300,000.00 $ 300,000.00 Paid in Capital 0 $ 125,540.00 $ 125,540.00 $ 125,540.00 Retained Earnings 0 $ 309,988.00 $ 691,923.93 $ 1,249,734.85 Additional Funds Needed 0 Total Liabilities and Equity 0 $ 1,107,528.00 $ 1,551,847.93 $ 2,174,583.85