Question
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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