Spreadsheet Assignment #2 Assignment: 1. Complete 3 years of the following state

ID: 2707306 • Letter: S

Question

Spreadsheet Assignment #2

Assignment:

1. Complete 3 years of the following statements needed for a business plan:

a. Monthly Cash Budgets

b. Year-End Income Statements

c. Year-End Balance Sheets

Sales Forecast

Year 1

Year 2

Year 3

1st Quarter

$45,000

$110,000

$155,000

2nd Quarter

$60,000

$120,000

$180,000

3rd Quarter

$90,000

$130,000

$200,000

4th Quarter

$105,000

$140,000

$215,000

Yearly Totals

$300,000

$500,000

$750,000

Variable Expenses:

1. Cost of Goods Sold = 65% of sales.

2. Salaries and Wages= $36,000 in Yr. 1 and $49,520 in Years 2 and 3. Expense evenly throughout the year.

3. Employee Related Expenses = 20% of Wages and Salaries.

4. Bank Charges = 5% on one third of their sales (i.e. 1/3 of their customers purchase goods with a credit card).

Fixed Per Month Expenses:

Rent

$1,000.00

Phone

250.00

Utilities

266.67

Insurance

333.33

Advertising

375.00

Office Supplies

20.00

Repairs & Maint.

50.00

Professional Services

40.00

Other Assumptions:

1. Depreciate all assets straight-line over 5 years.

2. Accounts Receivable: