SHTM Summarized Statement of Financial Position As at December 31, 2023 NON-CURRENT ASSETS Property, Plant & Equipment $25,000,000 CURRENT ASSETS Inventory Raw Materials $50,000 Inventory Finished Goods $250,000 Accounts Receivables $400,000 Cash $3,250,000 $3,950,000 $28,950,000 LONG-TERM LIABILITES Bank Loan CURRENT LIBIALITIES Accounts Payables EQUITY $3,000,000 $250,000 $25,700,000 $28,950,000 Page 4 of 9 IMACC Group Project | 2023-2024, SEM 2 EXHIBIT CI BUDGET ASSUMPTIONS CI: SALES Units: 55,000 per month up to June 2024. There is a projected increase of 10% for the remaining 6 months. Price: $460.00 per unit. Collection: Cash Sales: 50% Sales on Account: 50% collected as follows: 1. 10% in the month of sale 2. 50% in the month following sale 3. 35% two months following sale 4. 5% deemed uncollectable The accounts receivables balance for December 2023 is broken down as follows: $60,000 balance from November 2023 paid in full in Jan. 2024 $340,000 from December 2023 payable in $200,000 Jan.2024 and $140,000 Feb. 2024. C2 DIRECT LABOUR Direct labour hour per unit of output is 0.30 Unit Rate The average direct labour hour cost per hour is $480. CREATE A SALES BUDGET AND CASH COLLECTION BUDGET Page 5 of 9