NYP, New York Paper Co., is using its financial results for August 2019 (Table 1) as a base for projecting the companys budget for the remaining four months of the year (September-December).

Table 1: Financial results for August 2019 (000)

REVENUE	August
Wedding Invitations	4,507
Birthday Party Invitations	3,841
Business Party Invitations	2,652
Total Sales Revenue	11,000
EXPENSES
Printing Costs	4,400
Salaries	3,500
Administration	550
Advertising	1,544
Legal Fees	788
Shipping	928
Total Expenses	11,710
Net Income before Taxes	-710
Taxes	0
Net Profit (loss)	-710

Enter the figures for August of 2019 in your worksheet BUDGET . Make sure that you use formulas where appropriate for this base month. All figures should be expressed in thousands of dollars (000), amounts should be formatted with commas and no decimals.

Assumptions/Assignments

Following are the assumptions/assignments about how expenses relate to revenues and the growth assumptions for the next four months. These assumptions/assignments are unique for each group. Using wrong assumptions/assignments will cause zero 0 grade for the project.

Table 2 Assignments

	Wedding Invitations	Birthday Party Invitations	Business Party Invitations	Advertising	Legal Fees	Shipping	Deceember Goal Increase
#	A	B	C	D	E	F	G
	5.83	8.44	4.77	5.89	3.12	5.80	20.16

Projected Growth Per Month[1]

Use VLOOKUP to copy groups individual assignments/growth assumptions from table 2 to your worksheet. Place them all together in the lower left corner of your BUDGET worksheet with a boxed outline. (like the example in table 3)

Table 3 Individual Assignments

Projected Growth Per Month	%
Wedding Invitations	4.51
Birthday Party Invitations	8.65
Business Party Invitations	4.11
Advertising	4.99
Legal Fees	2.80
Shipping	6.74
December Increase Goal	20.08

1. Sales revenue from wedding invitations, birthday party invitations and business party invitations will grow at A%, B% and C% per month, respectively. (TABLE 2)
2. Printing costs are calculated as 40% of Sales Revenue for the month, and Administration expenses are calculated as 5% of the Sales Revenue for the month.
3. Salaries are fixed for the period. Please create an assumption table.
4. The other expense items will grow at the following rates (per month): Advertising will grow at D% per month, Legal Fees will grow at E% per month, and Shipping will grow at F% per month.
5. The tax rate is 28% on profits for the month. Assume that taxes are calculated and paid each month. Note that when the company loses money, it does not pay taxes.
6. Conditional Formatting. If any of the numbers for Net Income before Taxes, Taxes and Net Profit (loss) is greater than 0, then the font for that cell should be green. If any of the numbers for Net Income before Taxes, Taxes and Net Profit (loss) is less than 0, then the font for that cell should be red; otherwise, the font for that cell should be orange.

[1] For example: If the August expense was $100 and the projected growth is 5% per month than the projected September expense will be $100 x 1.05 =$105; projected October expense will be $105 x 1.05 =$110.25; projected November expense will be $110.25 x 1.05 =$115.76; and December expense will be $115.76 x 1.05=121.55.