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DULE To start Nosmell Sanline, you Invest $75,000 cash and your personal computer valued at $4,000 (ns et Dec 31, 2020). The estimated life of the computer is 5 years . Projected events during the upcoming year: The 5,000 sq ft manufacturing location you have lessed has a cost is $15 per square feet triple net. Triple net cost are $10 per square feet You plan to purchase the manufacturing equipment required at a New Years Day sales on January 1, 2021. Unfortunately, It cannot be installed February 1, 2021. The cost of the equipment is $20,000. Nosmell Sant Inc. will pay $5,000 in cash and secure financing for the remaining $15,000. The loan terms are 8% for a 10 year loan. The estimated life of the manufacturing equipment is 10 years. Hint: Use the PMT Function you learned In BUAD 128, Computer Applications to calculate the monthly repayment. It is found under Formulas in Excel You plan to start manufacturing the hand sanitizer on the day the equipment is installed, February 1, 2021 with the hopes that the first batch will be ready to ship mid-month, Nosmell Sant Inc. will have: an annual advertising budget of $30,000 an annual administration wages are $40,000 Individual Assignment #5 - Financial Assignment . . . variable wages of $2 per bottle of hand sanitizer produced (including benefits) direct material costs of $3 bottle of hand Sanitizer produced annual business Insurance is $2,000. Insurance policy is from Jan 2021- Dec 2021 annual utilities costs are $10,000, Note these costs tend to increase in the winter months monthly internet and phone cost are $200 monthly vehicle lease is $400 per month, anticipated annual fuel cost is $4,000 Initial website development cost $2.000 paid January 1, 2021 with an estimated life of years. Subsequent monthly web hosting fees are $100 . . . tions Chapter 10 Individual Attenment ancial Projections You and your fellow classmate have come up with an idea for a sent-free hand sanitizer. This idea came as a result of you having a constant headache from all of the different hand sanitizer smelts in stores right now due to the Pandemic. You have secured a manufacturing location, the required equipment, a supplier for your business, Nosmell Sant Inc. and you plan to start manufacturing the sent-free hand sanitter once you complete this Fall 2020 term. You are your classmate decide at this stage of your business, you will simply operate as two sole proprietors, To ensure Nosmell Sanl Inc.'s success you and your classmate have started to prepare a Business Plan. You are now working on the financial section and you must prepare the projected financial statements, cash budget schedules and supporting schedules Required: Excel spreadsheet templates have been provided to assist you with completing the following financial Information schedules 1. Prepare the Opening Balance Sheet as at December 31, 2020 (Chapter 10- Table 10.4 & 10,5) Hint this will include the capital and equipment you invest to start your business 2. Monthly Cashflow Projections for the twelve months (January 2021 to December 2021) Hint: follow these steps to calculate the sole price required to generate the business's torget profit 1. Prepare monthly cash flow projections. 2. Determine the amount of positive cashflow required in the first year dual Assignment #5 - Financial Assignment 3. Using the estimated sales price and unit sales projections from the Marketing Section of the business plan, will you generate enough cash inflow to cover costs and meet the target profit? You may need to manipulate or adapt selling price or unit projections accordingly. 2016 & 10:21 3. Loan Amortization Schedule to calculate interest accrual on the annual loan. 4. PPE Depreciation Schedule Hint Depreciation is NON CASH ITEM 5. Proforma Income Statement for the period onded December 31, 2021 MD 100 Undo Clipboard Font 27 A26 A Balance Sheet Date ASSETS Current Assets Total Current Assets Property Plant & Equipment 13 15 Page 1 20 21 Total Property Plant & Equipment 22 Total Assets 24 LIABILITIES & EQUITY 25 Liabilities 25 27 28 23 30 Total Liabilities 31 Equity 32 + 34 Total Equity Total Liabilities and Equity 37 Opening BS Accessihility Investigate Monthly Cash Flow Projection Ready anith Cash Flow Pections 01- Demeter 2021 WO lan M A MW A. SED New 1 1 Tout of beds Sold o Word urance Page 1 Toprom his Leon Lada Lash Outils Cash now ang Cash Balance G11 fx company Name Loan Amortization Schedule Ducmeber 31, 2021 NOTE Use the PMT Function under the formulas tab to complete the monthly payment Loan Amour Number of Years Yearly Interest Rate 9 R 10 11 12 3 Period 1 2. Page 1 Monthly Payment Internet Principle Pad Loan Balance Interest Total G H B 1 Company Narhe 2 Amortization Schedule 3 December 31, 2021 Page CO Annual Amortization Accumulador portization #DIV/0! #DIV/01 #DIV/0! 7 Equipment 8 Computer 9 Website 10 11 12 13 14 15 DIVO Pasie Font Undo Clipboard For the year ended Decmeber 43 Company Name Proforma Income Statement For the year ended Deemeber 31, 2021 Revenues Sales Revenue Other Revenue Total Revenue $ Cost of Goods Sold Gross Profit $ Page 1 Expenses Advertising Depreciation expense Employee Wages and Benefits 8 Insurance 9 Interest Expense 20 Lease Payment Communication (WIFI, Telephone) 22 Utilities 23 Web Hosting 24 Vehicle Expenses 25 Taxes 26 Total Expenses 27 Net Income: S 28 29 30 31 Opening BS Monthly Cash Flow Projection Ready Accessibility: Investigate 11C Partly sunny Undo Clipboard Font 24 ti Date Date ASSETS Current Assets -Cash Accounts Receivable Inventory Total Current Assets Property Plant & Equipment Equipment Les accumulated depreciation (equipment) Computer Less accumulated depreciation (appu Website Less accumulated deprecitation (website Total Property Plant & Equipment Total Assets Page 1 LIABILITIES & EQUITY Liabilities Accounts Payable Equipment Loans Balance Line of Credit Balance Total Liabilities Equity Increase in Owners Equity Owners Equity Owners Draw Total Equity Total Llabilities and Equity Monthly Cash Flow Projection Opening BS eady Accessibility: Investigate 11C Partly sunny