Question
Mobile Oil Change Business Income Statement Discuss a financial strategy appropriate for a Mobile Oil Change Business. Question that you should discuss are concerned with
Mobile Oil Change Business Income Statement
Discuss a financial strategy appropriate for a Mobile Oil Change Business. Question that you should discuss are concerned with the procurement of funds. Where will the money come from? When will the funds be secured? Usually funds come from personal savings, general and limited partners, venture capital, loans, generation of sales and services, profits and other sources. Also, discuss how you will prioritize the use of your funds.
A second item that needs to be addressed in your financial strategy are your financial statements. The first and most important for your business plan is the Income Statement. Complete your Income Statement, one for each of the first three years. Attached is a framework to facilitate the development of the Income statement.
Please complete the following Income Statement for a Mobile Oil Change Business.
INCOME STATEMENT
YEARS 1 _____ 2______ 3______
From ____________ to _____________
Month 1 | Month 2 | Month 12 | Total | |||
Sales/Revenue | ||||||
Credit/Cash Sales | ||||||
Less Returns | ||||||
Net Sales/Revenue | ||||||
Cost of Goods Sold | ||||||
Gross Profit | ||||||
Operating Expenses | ||||||
Wages and Salaries | ||||||
Payroll Expenses | ||||||
Professional Services | ||||||
Depreciation | ||||||
Repairs | ||||||
Maintenance | ||||||
Supplies | ||||||
Advertising - Promotion | ||||||
Rent | ||||||
Interest on Loans | ||||||
Telephone | ||||||
Utilities | ||||||
Insurances | ||||||
Other Operating Expenses | ||||||
Total Operating Expense | ||||||
Profit Before Taxes | ||||||
Income Taxes | ||||||
. | Net Profits |
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