This is team project of new business's financial plan. However, I don't know exactly this excel sheets are correct, so please help me.

The start up expenses and profit and loss projection are I made, but I don't know excatly with balance sheet, breake even, projected balance sheet, and cash flow.

1. Startup expenses

Startup Expenses Sweet Cupcake Bakery & Catering Sources of Capital Owners' Investment Carlee Ferra $ 10,000 Sejal Patel 10,000 Kyeungwook Min 10,000 Minsoo Yoon 15,000 Total Investment $ 45,000 Family Loans Minsoo Mother $ 15,000 Minsoo Dad 25,000 Total Other Loans $ 40,000 Startup Expenses Buildings/Real Estate Purchase $ 78,000 Construction 2,500 Total Buildings/Real Estate $ 80,500 Capital Equipment List Furniture $ 4,500 Equipment 10,000 Fixtures 1,300 Machinery 3,500 Total Capital Equipment $ 19,300 Location and Admin Expenses Rent & Related Costs $ 6,500 Utility deposits 2,000 Legal and accounting fees 2,000 Prepaid insurance 450 Pre-opening salaries - Total Location and Admin Expenses $ 10,950 Opening Inventory Cupcakes $ 2,100 Cannolis 300 Cookies 625 Brownies 350 Cake 70 Cheesecake 210 Coffee 138 Tea 30 Milkshakes 45 Flour 88 Sugar 128 Chocolate Chips 190 Baking Soda 30 Baking Powder 140 Yeast 48 Toppings 180 Oil 55 Powdered Sugar 28 Total Inventory $ 4,755 Advertising and Promotional Expenses Advertising $ 3,290 Signage 450 Printing 500 Travel/entertainment 1,000 Total Advertising/Promotional Expenses $ 5,240 Reserve for Contingencies $ 9,500 Working Capital $ 10,000 Summary Statement Sources of Capital Owners' and other investments $ 45,000 Other loans 40,000 Total Source of Funds $ 85,000 Startup Expenses Buildings/real estate (monthly) $ 6,708 Capital equipment 19,300 Location/administration expenses 10,950 Opening inventory 4,755 Advertising/promotional expenses 3,800 Contingency fund 9,500 Working capital 10,000 Total Startup Expenses $ 65,013

2. profit and loss projection.

Profit and Loss Projection (12 Months) Sweet Cupcake Bakery and Catering Fiscal Year Begins Jan-18 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 YEARLY Revenue (Sales) Cupcake 21,000 26,250 30,450 32,550 34,125 35,175 37,013 38,325 40,950 46,200 48,300 49,875 440,213 Cookies 3,750 2,000 2,250 2,700 5,125 5,075 5,050 5,063 5,075 5,025 5,063 5,150 51,325 Cake 3,099 3,874 4,649 3,254 3,099 3,409 4,029 4,649 4,029 3,874 7,128 7,128 52,218 Cheesecake 798 1,573 1,398 1,748 2,097 2,447 2,530 3,146 2,572 2,447 2,447 3,495 26,697 Brownie 2,450 2,538 2,625 2,800 2,450 2,608 2,625 2,660 2,688 2,800 2,013 2,100 30,356 Cannolis 1,500 1,530 1,650 1,680 2,100 1,740 1,524 1,650 2,295 2,025 1,410 2,250 21,354 Coffee 2,475 2,475 2,475 2,750 2,750 2,750 2,750 3,025 3,025 3,025 3,438 3,438 34,375 Tea 900 900 900 750 975 975 975 975 1,050 1,050 975 1,050 11,475 Milkshake 900 900 900 1,050 1,350 1,560 1,560 1,950 1,650 1,050 1,050 1,050 14,970 Total Revenue (Sales) 36,872 42,039 47,297 49,281 54,071 55,738 58,056 61,442 63,334 67,496 71,822 75,535 682,982 Cost of Sales Cupcakes 5000 6,250 7,250 7,750 8,125 8,375 8,813 9,125 9,750 11,000 11,500 11,875 99,813 Cookies 1,200 640 720 864 1,640 1,624 1,616 1,620 1,624 1,608 1,620 1,648 16,424 Cake 1,399 1,749 2,099 1,469 1,399 1,539 1,819 2,099 1,819 1,750 3,218 3,218 23,574 Cheesecake 598 673 598 748 897 1,047 1,082 1,346 1,100 1,047 1,047 1,495 11,678 Brownie 945 979 1,013 1,080 945 1,006 1,013 1,026 1,037 1,080 776 810 11,709 Cannolis 625 638 688 700 875 725 635 688 956 844 588 938 8,900 Coffee 720 720 720 800 800 800 800 880 880 880 1,000 1,000 10,000 Tea 180 180 180 150 195 195 195 195 210 210 195 210 2,295 Milkshake 375 375 375 438 563 650 650 813 688 438 438 438 6,238 Total Cost of Sales 11,042 12,204 13,642 13,998 15,439 15,961 16,622 17,791 18,063 18,856 20,381 21,631 195,630 Gross Profit 25,830 29,836 33,655 35,283 38,633 39,777 41,434 43,651 45,271 48,640 51,440 53,904 487,353 Expenses Salary expenses 6,185 6,185 6,185 6,185 6,185 6,185 6,185 6,185 6,185 6,185 6,185 6,185 74,220 Payroll expenses 7,970 7,970 7,970 7,970 7,970 7,970 7,970 7,970 7,970 7,970 7,970 7,970 95,640 Supplies (office and operating) 250 0 175 0 100 0 150 0 145 0 150 175 1,145 Repairs and maintenance 0 0 0 0 300 0 0 0 300 0 200 0 800 Advertising 3,290 3,290 3,160 210 3,300 3,160 510 3,160 3,000 510 3,000 460 27,050 Car, delivery and travel 0 0 0 50 50 50 100 100 120 130 160 200 960 Accounting and legal 167 167 167 167 167 167 167 167 167 167 167 167 2,004 Rent & Related Costs 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500 78,000 Telephone 40 40 40 40 40 40 40 40 40 40 40 40 480 Utilities 167 167 167 167 167 167 167 167 167 167 167 167 2,004 Insurance 450 450 450 450 450 450 450 450 450 450 450 450 5,400 Taxes (real estate, etc.) 2,176 2,176 Depreciation 0 0 0 0 0 0 0 0 0 0 0 450 450 Misc. (unspecified) 0 Sub-total Expenses 25,019 24,769 24,814 21,739 25,229 24,689 22,239 24,739 25,044 22,119 24,989 24,940 290,329 Reserve for Contingencies 2502 2477 2481 2174 2523 2469 2224 2474 2504 2212 2499 2494 29,033 Total Expenses 27,521 27,246 27,295 23,913 27,752 27,158 24,463 27,213 27,548 24,331 27,488 27,434 319,362 Net Profit Before Taxes -1,691 2,590 6,359 11,370 10,881 12,619 16,971 16,438 17,723 24,309 23,952 26,470 167,991 Federal Income Taxes 2,909 3,390 3,848 4,043 4,445 4,583 4,782 5,048 5,242 5,646 5,982 6,278 56,196 State Sales Taxes 1,475 1,682 1,892 1,971 2,163 2,230 2,322 2,458 2,533 2,700 2,873 3,021 27,319 State Income Taxes 1,033 1,193 1,346 1,411 1,545 1,591 1,657 1,746 1,811 1,946 2,058 2,156 19,494 Net Operating Income -5,633 -1,994 1,165 5,915 4,890 6,445 10,532 9,644 10,670 16,717 15,912 18,036 92,300

3. Opening day balance sheet.

Opening Day Balance Sheet Sweet Cupcake Bakery and Catering Assets Current Assets Cash in Bank $30,000.00 Inventory $4,755.00 Prepaid Expenses $83,400.00 building rent (one year) = 6500*12 Other $0.00 Total Current Assets $118,155.00 Fixed Assets Machinery & Equipment $4,500.00 Furniture & Fixtures $16,300.00 Leasehold Improvements $1,300.00 Real Estate / Buildings $0.00 Other $0.00 Total Fixed Assets $22,100.00 Other Assets Personal stock $5,014.19 Specify $0.00 Total Other Assets $5,014.19 Total Assets $145,269.19 Liabilities & Net Worth Current Liabilities Accounts Payable $- Taxes Payable - Notes Payable (due within 12 months) - Current Portion Long-term Debt - Other current liabilities (specify) - Total Current Liabilities $0.00 Long-term Liabilities Bank Loans Payable (greater than 12 months) $0.00 Less: Short-term Portion $0.00 Notes Payable to Stockholders $0.00 Minsoo Mother Debt $15,000.00 Minsoo Father Debt $25,000.00 Total Long-term Liabilities $40,000.00 Total Liabilities $40,000.00 Owners' Equity (Net Worth) $105,269.19 Total Liabilities & Net Worth $145,269.19

4. Breakeven analysis

Breakeven Analysis Sweet Cupcake Bakery and Catering Cost Description Fixed Costs ($) Variable Costs (%) Variable Costs Cost of Goods Sold % Inventory % Raw Materials % Direct Labor (Includes Payroll Taxes) % Fixed Costs Salaries (includes payroll taxes) Supplies 1145 Repairs & maintenance 800 Advertising 27050 Car, delivery and travel 960 Accounting and legal 2004 Rent 78000 Telephone 480 Utilities 2004 Insurance 5400 Taxes (Real estate, etc.) 2176 Depreciation 450 Other (specify) $- Other (specify) $- Miscellaneous expenses Principal portion of debt payment $- Owner's draw $- Total Fixed Costs 120469 Total Variable Costs 0% Breakeven Sales level = 120469

Help this opening day balance sheet and breakeven analysis. Assets are created by individual financial statements of team members.