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Need write a 3-year Income Statement One-Time Expenses: Budget Actual Rent: Security Deposit $8,000 $7,500 (1.5 months rent) First Months Rent $5,000 $4,954 First Months

Need write a 3-year Income Statement

One-Time Expenses:

Budget

Actual

Rent:

Security Deposit

$8,000

$7,500 (1.5 months rent)

First Months Rent

$5,000

$4,954

First Months Utilities

$700

$660.67

Improvement Costs:

Tables and Furniture

$10,000

$10,000

Utensils, Dishes and

Kitchen Equipment

$10,000 (included with tables and furniture)

$10,000

Inventory:

Order Certain Quantity of

Snow Blowers on Hand at

Open of Business

$50,000

(30 snow blowers @ $1,500 to make, profit of $1,000)

$45,000

Miscellaneous:

Licenses and Permits

$100

$80

Legal Fees

$1,200

$900

Signage

$2,000

$2,000

Technology

$10,000

$10,000

Software

Total Funds Required:

$1,000

$83,500.00

$1,000

$82,094.67

Monthly Expenses:

Budget

Actual

Rent:

Monthly Rent

$5,000

$4,954/mo (for 3,964 ft2)

Property Insurance

$50

$41.67/mo ($500/yr)

Utilities

$700

$660.67/mo ($7,928/yr)

Employees:

Payroll / Salaries

$40,000

$40,000

Payroll Taxes

$400

$392

Health Insurance

$1,500

$100/mo ($1,200/yr)

Professional Services:

Accounting

$200

$200/mo ($2,400/yr)

Supplies:

Office Supplies

$2,000

$2,000

Reorder of Inventory

$30,000

$25,000 (can vary month to month)

Marketing:

Digital Marketing

$8,000

$7,500

Website/App

$50

$40/mo ($480/yr)

Miscellaneous:

Liability Insurance

$50

$50

Repairs and Maintenance

Total Monthly Expenses:

$1,500

$89,450.00

-

$80,938.34

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