Pre-seen- Hunter's Laptop Retail and Repair Hunter is between jobs right now. He was most recently sitting on the board of an overseas oil and gas company. However, he was underqualified for the position and was eventually let go. Since then, Hunter has also sold some of his paintings for large sums of money. Hunter feels frustrated by ongoing chatter that he has only done well in his career as a result of his father, who holds a prestigious position with the federal government. Fortunately, Hunter has a new idea. He wants to open a computer retail and repair shop. He recently had a problem with his own laptop repair. After dropping his laptop at Eric's Electronics Repair and neglecting to pick it up, Hunter unfortunately discovered that some sensitive information about his personal life had been leaked to the press. Feeling angry about Eric's lack of professionalism, Hunter feels that he can open a more ethical repair shop which will compete with Eric. I Hunter spoken to a friend, Michelle, about this business idea and she has determined that he can feasibly sell eighty-five laptops in his first year of business at an average price of $495 per laptop. Hunter has contacted a major computer manufacturer who has quoted him $1,625 for five laptops, $3,150 for ten laptops, or $28,500 for 100 laptops. Michelle also projects one-hundred-and-fifty laptop repairs in the business's first year, with each repair priced at $95. On average, a laptop repair would cost Hunter $40 in labour costs (he can't do repairs himself but is hoping he can learn over time), $10 in materials, and $5 in variable overhead costs. Michelle isn't confident projecting numbers beyond two years but thinks Hunter should be able to grow sale and repair numbers by 50% in year two and at least sustain that level in following years. Michelle has stressed that trend analysis is important. Hunter's additional expenses would be $1,300 a month for rent, $350 a month for utilities, and $200 a month for advertising. Hunter plans to use a combination of debt and equity financing-he plans to pay interest of $150 a month and dividends totalling $15,000 at the end of the year. Since Hunter knows many wealthy businesspeople around the world (mainly through a family friend named Barack), he foresees no issues with getting money- he is planning to just call people and ask them if they want to buy shares or loan money to his new company. Hunter is wondering how much money he might be able to withdraw at the end of the business's first year- he doesn't want to withdraw any cash which wasn't technically "profit". He wants you to prepare, using proper formatting, a first-year projected income statement and statement of retained earnings for him.

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