Using the Score Financial Projections Template (See Below) analyze the pictures in their entirety for any aspects that may not be obvious to the common financial statement user. Explain each of these areas of possible confusion. Also,Please provide assumptions regarding financial statement content yearly for the first three years. The spreadsheet did not show up on word like I wanted it to. If the person looking at this would like a copy of the excel spreadsheet I would be happy to send it to them.

Income Statement Years 1-3
Prepared By:	Company Name:
Owner	Company 1
Revenue	2017		2018		2019
Tops	180,510		198,561		218,417
Bottoms	252,100		277,310		305,041
Dresses	291,960		321,156		353,272
Outfits & Sets	405,774		446,351		490,987
Outerwear	267,744		294,518		323,970
Pajamas	198,810		218,691		240,560
Total Revenue	$ 1,596,898	100%	$ 1,756,588	100%	$ 1,932,247	100%
Cost of Goods Sold
Tops	60,170		66,187		72,806
Bottoms	94,538		103,991		114,390
Dresses	116,784		128,462		141,309
Outfits & Sets	202,887		223,176		245,493
Outerwear	75,303		82,833		91,117
Pajamas	79,524		87,476		96,224
Total Cost of Goods Sold	629,206	39%	692,126	39%	761,339	39%
Gross Margin	967,693	61%	1,064,462	61%	1,170,908	61%
Payroll	99,939		117,431		152,660
Operating Expenses
Advertising	4,248		4,375		4,507
Car and Truck Expenses	-		-		-
Commissions and Fees	-		-		-
Contract Labor (Not included in payroll)	-		-		-
Insurance (other than health)	1,080		1,112		1,146
Legal and Professional Services	3,600		3,708		3,819
Licenses	-		-		-
Office Expense	-		-		-
Rent or Lease -- Vehicles, Machinery, Equipment	-		-		-
Rent or Lease -- Other Business Property	-		-		-
Repairs and Maintenance	1,200		1,260		1,323
Supplies	3,600		3,708		3,819
Travel, Meals and Entertainment	-		-		-
Utilities	3,000		3,090		3,183
Miscellaneous	4,800		4,944		5,092
Other Expense 1
Other Expense 2
Total Operating Expenses	$ 21,528	1%	$ 22,198	1%	$ 22,889	1%
Income (Before Other Expenses)	$ 846,226	53%	$ 924,833	53%	$ 995,359	52%
Other Expenses
Amortized Start-up Expenses	15,565		15,565		15,565
Depreciation	12,564		15,157		15,157
Interest
Commercial Loan	2,569		2,267		1,936
Commercial Mortgage	-		-		-
Credit Card Debt	-		-		-
Vehicle Loans	-		-		-
Other Bank Debt	-		-		-
Line of Credit	(281)		(2,123)		(4,019)
Bad Debt Expense	(1,596,898)		-		-
Total Other Expenses	$ (1,566,481)	-98%	$ 30,866	2%	$ 28,639	1%
Net Income Before Income Tax	$ 2,412,707		$ 893,968		$ 966,720
Income Tax	$ 151,767		$ 56,846		$ 61,393
Net Income/Loss	$ 2,260,940	142%	$ 837,122	48%	$ 905,327	47%