JEC'S COFFEE SHOP

PROJECTED INCOME STATEMENT

FOR THE YEAR ENDED DEC. 31,2020

JANUARY FEBRUARY MARCH APRIL

SALES 2,196,000.00 2,196,000.00 2,196,000.00 2,196,000.00
LESS: COST OF SALES 1,317,600.00 1,317,600.00 1,317,600.00 1,317,600.00
GROSS INCOME 878,400.00 878,400.00 878,400.00 878,400.00
LESS: EXPENSES
SALARIES AND WAGES 108,028.00 108,028.00 108,028.00 108,028.00
EMPLOYEE BENEFITS 10,020.40 10,020.40 10,020.40 10,020.40
UTILITIES EXPENSE 12,821.00 12,821.00 12,821.00 12,821.00
INSTALLATION COST 13,300.00 - - -
SUPPLIES EXPENSE 700.00 701.00 702.00 703.00
INTEREST EXPENSE 3,000.00 3,000.00 3,000.00 3,000.00
ADVERTISING EXPENSES 43,920.00 43,920.00 43,920.00 43,920.00
LEGAL EXPENSES 10,000.00 - - -
TAXES AND LICENSES 65,880.00 65,880.00 65,880.00 65,880.00
DEPRECIATION EXPENSE
MISCELLANEOUS EXPENSE
TOTAL EXPENSE
INCOME BEFORE TAX
LESS: TAX EXPENSE
INCOME AFTER TAX
MAY JUNE JULY AUGUST SEPTEMBER
2,196,000.00 2,196,000.00 2,196,000.00 2,196,000.00 2,196,000.00
1,317,600.00 1,317,600.00 1,317,600.00 1,317,600.00 1,317,600.00
878,400.00 878,400.00 878,400.00 878,400.00 878,400.00

108,028.00 108,028.00 108,028.00 108,028.00 108,028.00

10,020.40 10,020.40 10,020.40 10,020.40 10,020.40
12,821.00 12,821.00 12,821.00 12,821.00 12,821.00
- - - - -
704.00 705.00 706.00 707.00 708.00
3,000.00 3,000.00 3,000.00 3,000.00 3,000.00
43,920.00 43,920.00 43,920.00 43,920.00 43,920.00
- - - - -
65,880.00 65,880.00 65,880.00 65,880.00 65,880.00
OCTOBER NOVEMBER DECEMBER
2,635,200.00 2,635,200.00 2,635,200.00
1,581,120.00 1,581,120.00 1,581,120.00
1,054,080.00 1,054,080.00 1,054,080.00

108,028.00 108,028.00 108,028.00

10,020.40 10,020.40 10,020.40
12,821.00 12,821.00 12,821.00
- - -
709.00 710.00 711.00
3,000.00 3,000.00 3,000.00
52,704.00 52,704.00 52,704.00
- - -
79,056.00 79,056.00 79,056.00
 ASSUMPTIONS

40% OF SALES
SALES 100% PEAK SEASON RATE
JANUARY 100%
GROSS INCOME = 40% FEBRUARY 100%
MARCH 100%
APRIL 100%
COST OF RATIO= 60% MAY 100%
JUNE 100%
JULY 100%
TAXES AND LICENSES 3%
AUGUST 100%
SEPTEMBER 100%
ADVERTISING EXPENSE 2% OCTOBER 120%
NOVEMBER 120%
DECEMBER 120%
PRINCIPAL 300000

INTEREST RATE 12%

INTEREST EXPENSE 3000

MISCELLANEOUS EXPENSE 2%

INCOME TAX 30%

CASH 30%
CASH COLLECTIONS
COLLECTED AFTER 30 DAYS 70%
CASH 40%
PURCHASES PAYMENT
PAID AFTER 30 DAYS 60%
INVENTORY REQUIREMENT NExT MONTH'S COST OF SALES 10%
OUTPUT TAX 12%
INPUT TAX PURCHASES PLUS EXPENSES 12%