just quarter 1 and 2

Based on the following information, create a balance sheet (in excel or sheets) at the end of each Quarter. Create an annual income statement (in excel or sheets) (i.e. after Q4). Q1 1. Investor puts $1,500 cash into business for 50% equity 2. Buy $200 of inventory 3. Pay utilities of $250 4. Buy equipment for $150. Will pay in Q2. Q2 5. Sell $100 in coffee mugs (COGS is 20% of revenue). Customer (Tim) will pay in Q3. 6. Obtain bank loan for $750 7. Pay bill for equipment of $150 8. Buy $75 in advertising from Facebook Basic Premium Cost $ $ Price 0.155 0.20 $ 3.00 3.50 Units Sold 25000 25000 Net Profit margin Break Even 499 $ 69,333.33 2 Basic S 3 Premium $ 4 Sales S 5 COGS-Basic S 6 COGS-Premium $ 7 Total COGS S 8 Gross Profit 5 9 Gross Profit Margin 10 Rent 11 Marketing 12 Manager Salaries 13 Utilities 14 Total Operating $ 15 EBITDAS 16 Depreciation 17 EBITS 18 Taxes 19 Net Profit 20 21 22 23 24 75,000.00 87,500.00 162,500.00 3,750.00 5,000.00 8,750.00 153,750.00 95% 12,000.00 10,000.00 40,000.00 3,600.00 65,600.00 88,150.00 500.00 87,650.00 8,765.00 78,885.00 11 900 1650 100 150 175 1075 12 Assets Cash Accounts Receivable Inventory Current/short-term Scooter Equipruent Good Total Long Term Total Assets Assets Cash Accounts Receivable Inventory Current/short-term Scooter Equipment Goodwill Total Long Term Total Assets 1900 900 1000 2000 1000 1300 2075 3200 Liabilities Payables Current abilities 300 300 Liabilities Payables Current abilities Loan Long Term Liabilities Total abilities Loan 750 750 0 Long Term Liabilities Total Usbilities 1050 1 2. Revenue Expenses Metained Earnings Owners Equity Equity 100 25 75 2000 2075 Revenue Expenses retained ning Owners Equity Equity 200 50 150 2000 2150 5 Credit Debit 100 100 Cash Revenue Inventory Expenses 25 25 1400 0 200 T3 Assets Cash Accounts Receivable Inventory Current/short-term Scooter Equipment Goodwill Total Long Term Total Assets 1600 Assets Cash Accounts Receivable Inventory Current/short-term Scooter Equipment Goodwill Total Long Term Total Assets 200 0 200 900 2000 300 1000 3300 4200 300 1000 1300 2900 0 0 0 Liabilities Payables Current Uabilities Loan Long Term Liabilities Total Liabilities Liabilities Payables Current Liabilities Loan Long Term Liabilities Total abilities 750 750 2200 2200 750 2200 200 200 Revenue Expenses Metained Earning Owners Equity Equity 200 50 150 2000 2150 Revenue Expenses Tetained Earnings Owners Equity Equity b000 2000 Credit Debit 500 2000 Cash Scooter Inventory Expenses