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prepare a 3 Year Proposed Funding Schedule (Sources and uses of the funds received.) for an online boutique retailer based on income statement below Year
prepare a 3 Year Proposed Funding Schedule (Sources and uses of the funds received.) for an online boutique retailer based on income statement below
Year | 1 | 2 | 3 |
Expected Annual Sales | $ 1,000,000 | $ 4,000,000 | $ 10,000,000 |
Cost of Sales | $ 700,000 | $ 2,400,000 | $ 5,000,000 |
Gross Profit | $ 300,000 | $ 1,600,000 | $ 5,000,000 |
Selling and Admin Expenses | $ 250,000 | $ 250,000 | $ 250,000 |
Earnings before taxes | $ 50,000 | $ 1,350,000 | $ 4,750,000 |
Taxes at 21% | $ (10,500) | $ (283,500) | $ (997,500) |
Net Income | $ 60,500 | $ 1,633,500 | $ 5,747,500 |
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