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1.1 Mission
Fiberglass World strives to be the majority provider of this breakthrough product. We intend to accomplish this through a strict quality-control program, timely deliveries, and competitive pricing.
Fiberglass World has developed isolative fiberglass roof tiles and isolative fiberglass structural exterior panels. Fiberglass World is the exclusive manufacturer in the U.S. and is protected by a licensing agreement with the inventor who is the owner of the company. The company will control its production line to assure that quality is met.
Company Summary
Fiberglass World is a start-up manufacturing company with patented products that will revolutionize the building industry. It is the exclusive manufacturer in the U.S. and is protected by a licensing agreement with the inventor of the Fiberglass Plate products, Mr. John Thompson. The company boasts many features which directly lead to it being the premier manufacturer of fiberglass materials in the United States. The following subtopics outline the some features of Fiberglass World: its locations, a description of what it will take to get the company up and running, and other elementary aspects of the company.
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Start-up Requirements Start-up Expenses Legal Accounting Insurance Rent Research and development Utility hookup Other Total Start-up Expenses Start-up Assets Cash Required Start-up Inventory Other Current Assets Long-term Assets $35,000 $80,000 $0 $300,000 $50,000 $20,000 $100,000 $56,000 $0 $1,000 $5,000 $432,000 Building construction/Site improvement $200,000
$415,000 $847,000
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Start-up Funding Start-up Expenses to Fund Start-up Assets to Fund Total Funding Required Assets Non-cash Assets from Start-up Cash Requirements from Start-up Additional Cash Raised Cash Balance on Starting Date Total Assets Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities $50,000 $476,000 $380,000 $35,000 $0 $35,000 $415,000 $432,000 $415,000 $847,000
Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities Capital Planned Investment Mr John Thompson Mrs. Kim Thompson Other Investors Additional Investment Requirement Total Planned Investment Loss at Start-up (Start-up Expenses) Total Capital Total Capital and Liabilities Total Funding $70,000 $38,000 $213,000 $0 $321,000 ($432,000) ($111,000) $415,000 $847,000 $526,000
Products
Fiberglass World has pioneered insulative fiberglass roof tiles and insulative fiberglass structural exterior panels. Both products have a molded texture look of stucco and are fire retardant. Fiberglass Plate will replace many systems now used in the construction
industry. Fiberglass Plate fiberglass roof tiles and panels are lightweight and very energy efficient. The selling price of Fiberglass Plate fiberglass roof tiles and fiberglass exterior structural panels is competitive with any other top quality building material. Fiberglass panels can be manufactured from 1/4" to 3" thick and can be marketed from $3.00 per square foot. Fiberglass Plate roof tiles are priced at $450.00 per square. A square equals a section of roofing 10 feet by 10 feet. This selling price includes the finishing pieces. Fiberglass Plate Products have the molded texture look of stucco and can be manufactured in any color; both are fire retardant and meet all construction codes, are insulative, and offer a finished product with any desired features.
Fiberglass Plate roof tiles can be manufactured in the traditional flat or curved style. Molded texture color impregnated gel coat used. Insulative core material used. Roof tiles weigh approximately 270 lb. per square. Any style can be manufactured for qualified projects. Multi-color tiles will be available. Fiberglass Plate roof tiles are fire retardant.
The insulative panels will enhance the esthetics of your property for years to come. They can be ordered in any color. They will be manufactured in various sizes for qualified projects. The panels are energy efficient.
The industry of roofing, siding, and installation is a large one. Total annual sales in this industry amount to approximately $11 million and are projected to remain steady, if not increase. One reason for the prosperity of this industry is because there is such a large market. The company is primarily targeting the construction industry, where sales total $124,953 million annually. Market Size Statistics Estimated number of U.S. establishments Number of people employed in this industry Total annual sales in the industry Average employees per establishment Average sales per establishment 3,245 35,179 $11 million 11 $5.6 million
This segment is comprised of companies that are involved in the smallest housing projects. However, the sheer size of the segment means that this will be the segment providing the majority of sales to Fiberglass World. Market size statistics--Residential construction, nec General contractors primarily engaged in construction (including new work additions, alterations, remodeling, and repair) of residential buildings other than single-family houses. This includes hotels, motels, apartments, and multi-family homes. Estimated number of U.S. establishments Number of people employed in this industry 25,201 114,523
Total annual sales in this industry Average employees per establishment Average sales per establishment Market size statistics--Nonresidential construction, nec
General contractors primarily engaged in the construction (including new work additions, alterations, remodeling, and repair) of nonresidential buildings other than industrial buildings and warehouses. This includes commercial, institutional, religious, and amusement and recreational buildings. Estimated number of U.S. establishments Number of people employed in this industry Total annual sales in this industry Average employees per establishment Average sales per establishment 44,505 540,550 $205 million 12 $4.9 million
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Market Analysis Year 1 Potential Customers Growth Year 2 Year 3 Year 4 Year 5 CAGR
Single-family housing construction Other residential construction Non residential construction Total
4% 3% 2% 3.61%
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Siding, except wood Insulation materials Fiberglass building materials Insulation, thermal Mineral wool insulation materials Total/Average
8 8 27 10 9 11
Note: Not all establishments have a specialty. Sales figures are in millions.
Some of the outstanding features of Fiberglass Plate that have become necessary in the construction industry include:
y y y y y y y y
By conserving heat/cold within a structure, the panels are energy efficient. The panels are lightweight and easy to install. The product is cost effective because it services the insulative need as well. They will not corrode and therefore require little maintenance. Guaranteed to be 100% waterproof. All Fiberglass Plate products are fire retardant. The product is removed from the mold with a stucco look and texture. The insulative fiberglass exterior panels may be installed below grade.
The most important feature is the stability of Fiberglass Plate Products. In terms of manufacturing, Fiberglass Plate Products can be compared to a marine manufacturing process. All raw materials used meet the marine industry standard, and are built with the weight of water pressure in mind. The panels are durable, rugged, and meant to withstand many pounds of pressure. Quality control is very important. Keeping this in mind, we will control our production lines to assure that quality is met. All orders will be produced in a time frame as specified by the production manager.
Create contacts with residential and commercial contractors. Contact developers of residential and commercial properties. Contact and training for new "company approved" warranty installer contractors for Fiberglass Plate Products. Special advertising efforts will be implemented on the Internet. Set up advertising for local and national programs. Participate at national and regional trade shows. Employment of company sales representatives. Contact major architectural firms.
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Sales Forecast Year 1 Sales Roof Tiles Siding Sheets Total Sales Direct Cost of Sales Roof Tiles Siding Sheets Subtotal Direct Cost of Sales $1,728,000 $5,184,000 $5,184,000 $4,224,000 $8,449,000 $8,449,000 $5,952,000 $13,633,000 $13,633,000 Year 1 $966,177 Year 2 Year 3 $2,966,995 $2,896,436 Year 2 Year 3
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5.4 Promotion
Fiberglass World advertises in the yellow pages, newspapers, radio, and billboards throughout the state. Fiberglass World will also gain considerable recognition through these additional promotional mediums:
y y y y
Caps and T-shirts. Signs Word of mouth. Incentives: o As an extra incentive for customers and potential customers to remember Fiberglass World 's name, the company plans to distribute coffee mugs, T-shirts, pens, and other advertising specialties with the company logo. Brochures: o The objective of a brochure is to portray Fiberglass World's goals and products as an attractive functionality. It is also to show customers how to use the latest in technology as it relates to construction and building services. Investment in Advertising and Promotion: o A fixed amount of sales revenues will go toward the state-wide Fiberglass World advertisement campaign. On an ongoing basis, Fiberglass World feels that it can budget advertising expenses at less than ten percent of revenues.
Management Summary
The company's management is highly experienced and qualified, with seasoned investors. The company strives to hire qualified people who take pride in their work. The company's management philosophy is based on responsibility and mutual respect. Fiberglass World maintains an environment and structure that encourages productivity and respect for customers and fellow employees. The following subtopics outline both the management team, and its team of employees. Fiberglass World's management is highly experienced and qualified. Its key management team includes:
y
Mr. John Thompson, president and CEO. Mr. Thompson is a building consultant and specializes in product development and marketing. During the past two decades, Mr. Thompson has been contracted to design and manufacture a wide range of fiberglass products, from fiberglass housing for water treatment to designing and manufacturing a planter system.
Mrs. Kim Thompson, vice president. Mrs. Thompson has held several management positions with various companies in the real estate industry. She has also been involved in rental management and rental sales. She holds real estate salesman and broker licenses, and a community association manager's license.
Personnel Plan Year 1 General Manager Production Manager Office Manager Safety Manager $60,000 $60,000 $60,000 $60,000 Year 2 $60,000 $60,000 $60,000 $60,000 $60,000 $40,000 $40,000 $0 $0 $0 0 Year 3 $73,334 $73,333 $73,333 $60,000 $60,000 $60,000 $60,000 $35,000 $50,000 $0 0
Distribution & Inventory manager $60,000 Sales and Marketing Coordinator $0 Product developer Sales Rep Finance & accounting analyst Other Total People $0 $0 $0 $0 0
Total Payroll
Financial Plan
Funding Requirements and Uses: The company is seeking first round financing for the purpose of acquiring starting inventory of raw materials, purchasing land, building construction, utility hook-up and site improvement, machinery and equipment, working capital, legal and accounting, and miscellaneous start-up expenses. The company will require additional investment or loans for Phase II, set to begin during the fourth year of operation.
General Assumptions Year 1 Plan Month Current Interest Rate Tax Rate Other 10.00% 39.17% 0 Long-term Interest Rate 10.00% 1 10.00% 10.00% 40.00% 0 Year 2 2 10.00% 10.00% 39.17% 0 Year 3 3
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Break-even Analysis Monthly Revenue Break-even $275,977 Assumptions: Average Percent Variable Cost 56% Estimated Monthly Fixed Cost $121,670
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Pro Forma Profit and Loss Year 1 Sales Direct Cost of Sales Royalties Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Depreciation Leased Equipment Utilities Insurance Rent Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales $300,000 $55,000 $15,000 $50,000 $109,500 $28,000 $45,000 $0 $1,460,041 $1,164,017 $1,219,017 $53,413 $431,700 $678,904 11.41% $380,000 $1,371,697 $55,000 $16,500 $157,000 $257,200 $35,000 $57,000 $0 $2,329,397 $3,500,933 $3,555,933 $68,990 $1,372,777 $2,059,166 15.10% $545,000 $1,605,710 $55,000 $18,150 $180,550 $422,920 $36,750 $81,750 $0 $2,945,830 $1,025,258 $1,080,258 $82,250 $369,345 $573,663 4.21% Sales and Marketing and Other Expenses $857,541 $5,952,000 $3,327,942 $0 $3,327,942 $2,624,058 44.09% Year 2 $13,633,000 $7,802,670 $0 $7,802,670 $5,830,330 42.77% Year 3 $13,633,000 $7,617,112 $2,044,800 $9,661,912 $3,971,088 29.13%
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Pro Forma Cash Flow Year 1 Cash Received Cash from Operations Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out Other Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Principal Repayment of Current Borrowing $0 Long-term Liabilities Principal Repayment $0 $300,000 $4,728,411 $5,028,411 $380,000 $11,048,606 $11,428,606 $545,000 $12,369,809 $12,914,809 $0 $50,000 $0 $47,600 $0 $0 $0 $6,049,600 Year 1 $0 $85,000 $0 $47,600 $0 $0 $0 $13,765,600 Year 2 $0 $85,000 $0 $47,600 $0 $0 $0 $13,765,600 Year 3 $5,952,000 $0 $5,952,000 $13,633,000 $0 $13,633,000 $13,633,000 $0 $13,633,000 Year 2 Year 3
Pro Forma Balance Sheet Year 1 Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Net Worth $429,999 $100,000 $0 $529,999 $523,600 $321,000 $678,904 $550,904 $550,904 $950,920 $185,000 $0 $571,200 $321,000 $1,022,587 $270,000 $0 $618,800 $321,000 $2,255,070 $300,000 $55,000 $245,000 Year 1 $300,000 $110,000 $190,000 Year 2 $300,000 $165,000 $135,000 Year 3 $1,039,189 $3,359,183 $4,192,973 $0 $320,314 $0 $0 $751,007 $0 $0 $733,147 $0 Year 2 Year 3
$1,135,920 $1,292,587
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Ratio Analysis
Year 1 Sales Growth Percent of Total Assets Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Total Assets Current Liabilities Long-term Liabilities Total Liabilities Net Worth Percent of Sales Sales Gross Margin Selling, General & Administrative Expenses Advertising Expenses Profit Before Interest and Taxes Main Ratios Current Quick Total Debt to Total Assets Pre-tax Return on Net Worth Pre-tax Return on Assets Additional Ratios Net Profit Margin Return on Equity Activity Ratios Accounts Receivable Turnover Collection Days Inventory Turnover Accounts Payable Turnover Payment Days Total Asset Turnover Debt Ratios Debt to Net Worth Current Liab. to Liab. Liquidity Ratios Net Working Capital Interest Coverage Additional Ratios Assets to Sales Current Debt/Total Assets Acid Test Sales/Net Worth Dividend Payout 0.27 33% 1.96 10.80 0.03 0.32 26% 2.96 5.26 0.01 $829,504 21.79 1.91 0.50 0.66 0.67 0.00 0 10.91 12.00 27 3.71 0.00 0 14.57 12.17 22 3.17 2.57 1.96 65.67% 201.60% 69.22% Year 1 11.41% 123.23% 3.62 2.96 100.00% 44.09% 32.89% 4.26% 19.56% 0.00% 19.96% 0.00% 84.73% 15.27% 100.00% 33.03% 32.63% 65.67% 34.33% 0.00% 0.00%
Year 3 Industry Profile 14.50% 29.10% 26.30% 25.10% 80.50% 19.50% 100.00% 46.10% 11.10% 57.20% 42.80% 100.00% 17.60% 9.60% 0.20% 2.00% 1.58 0.86 57.20% 5.50% 12.80% n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a
17.46% 0.00% 95.58% 4.42% 100.00% 26.42% 13.28% 39.70% 60.30% 100.00% 42.77% 27.66% 2.28% 25.68%
14.49% 0.00% 97.33% 2.67% 100.00% 25.54% 12.23% 37.77% 62.23% 100.00% 29.13% 24.98% 2.75% 7.52% 3.81 3.24 37.77% 29.94% 18.63% Year 3 4.21% 18.21% 0.00 0 10.26 12.17 29 2.69 0.61 0.68 $3,633,533 12.47 0.37 26% 3.24 4.33 0.03
$2,974,270 50.75
Appendix
Sales Forecast Month 1 Sales Roof Tiles Siding Sheets Total Sales Direct Cost of Sales Roof Tiles Siding Sheets 0% 0% $165,600 $404,800 $570,400 Month 1 $92,592 $226,336 $172,800 $422,400 $595,200 Month 2 $96,618 $236,177 $180,000 $440,000 $620,000 Month 3 $100,643 $246,017 $151,200 $354,409 $505,609 Month 4 $84,540 $198,161 $137,143 $320,046 $457,189 Month 5 $76,681 $178,947 $124,695 $320,000 $444,695 Month 6 $69,721 $178,922 $125,217 $306,087 $431,304 Month 7 $70,013 $171,142 $119,003 $306,087 $425,090 Month 8 $66,538 $171,142 $120,000 $293,333 $413,333 $137,142 $335,238 $472,380 $144,000 $352,000 $496,000 $151,200 $369,600 $520,800 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Month 9 Month 10 Month 11 Month 12 $67,096 $164,011 $76,680 $187,442 $80,515 $196,814 $84,540 $206,654
$318,928
$332,794
$346,661
$282,701
$255,628
$248,642
$241,155
$237,681
$231,107
$264,122
$277,328
$291,195
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Personnel Plan Month 1 General Manager Production Manager Office Manager Safety Manager Distribution & Inventory manager Sales and Marketing Coordinator Product developer Sales Rep Finance & accounting analyst Other Total People Total Payroll 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 2 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 3 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 4 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 5 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 6 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 7 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 8 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 9 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 10 Month 11 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000 Month 12 $5,000 $5,000 $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 0 $25,000
General Assumptions Month 1 Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Other 10.00% 10.00% 30.00% 0 1 10.00% 10.00% 40.00% 0 Month 2 2 10.00% 10.00% 40.00% 0 Month 3 3 10.00% 10.00% 40.00% 0 Month 4 4 10.00% 10.00% 40.00% 0 Month 5 5 10.00% 10.00% 40.00% 0 Month 6 6 10.00% 10.00% 40.00% 0 Month 7 7 10.00% 10.00% 40.00% 0 Month 8 8 10.00% 10.00% 40.00% 0 Month 9 9 10.00% 10.00% 40.00% 0 Month 10 10 10.00% 10.00% 40.00% 0 Month 11 11 Month 12 12 10.00% 10.00% 40.00% 0
Pro Forma Profit and Loss Month 1 Sales Direct Cost of Sales Royalties Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Sales and Marketing and Other Expenses Depreciation Leased Equipment Utilities Insurance Rent Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales 15% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $129,802 $134,385 $4,383 $37,626 $87,793 15.39% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $140,736 $145,319 $4,383 $54,541 $81,811 13.75% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $151,669 $156,253 $4,383 $58,914 $88,372 14.25% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $101,238 $105,821 $4,383 $38,742 $58,113 11.49% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $79,891 $84,474 $4,383 $30,203 $45,304 9.91% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $74,383 $78,966 $4,383 $28,000 $42,000 9.44% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $68,479 $73,062 $4,383 $25,638 $38,457 8.92% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $65,739 $70,323 $4,383 $24,542 $36,814 8.66% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $60,556 $65,139 $4,383 $22,469 $33,704 8.15% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $86,588 $91,171 $4,383 $32,882 $49,323 10.44% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $97,001 $101,585 $4,383 $37,047 $55,571 11.20% $25,000 $71,462 $4,583 $1,250 $4,167 $9,125 $2,333 $3,750 $0 $121,670 $107,935 $112,518 $5,197 $41,095 $61,643 11.84% $570,400 $318,928 $0 $318,928 $251,472 44.09% $595,200 $332,794 $0 $332,794 $262,406 44.09% Month 2 $620,000 $346,661 $0 $346,661 $273,339 44.09% Month 3 $505,609 $282,701 $0 $282,701 $222,908 44.09% Month 4 $457,189 $255,628 $0 $255,628 $201,561 44.09% Month 5 $444,695 $248,642 $0 $248,642 $196,053 44.09% Month 6 $431,304 $241,155 $0 $241,155 $190,149 44.09% Month 7 $425,090 $237,681 $0 $237,681 $187,409 44.09% Month 8 $413,333 $231,107 $0 $231,107 $182,226 44.09% Month 9 Month 10 $472,380 $264,122 $0 $264,122 $208,258 44.09% Month 11 $496,000 $277,328 $0 $277,328 $218,672 44.09% Month 12 $520,800 $291,195 $0 $291,195 $229,605 44.09%
Pro Forma Cash Flow Month 1 Cash Received Cash from Operations Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $50,000 $0 $570,400 $0 $570,400 $595,200 $0 $595,200 $620,000 $0 $620,000 $505,609 $0 $505,609 $457,189 $0 $457,189 $444,695 $0 $444,695 $431,304 $0 $431,304 $425,090 $0 $425,090 $413,333 $0 $413,333 $472,380 $0 $472,380 $496,000 $0 $496,000 $520,800 $0 $520,800 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance
$0 $0 $0 $0 $570,400 Month 1
$0 $0 $0 $0 $595,200 Month 2
$0 $0 $0 $0 $620,000 Month 3
$0 $0 $0 $0 $505,609 Month 4
$0 $0 $0 $0 $457,189 Month 5
$0 $0 $0 $0 $444,695 Month 6
$0 $0 $0 $0 $431,304 Month 7
$0 $0 $0 $0 $425,090 Month 8
$0 $0 $0 $0 $413,333 Month 9
$0 $0 $0 $0 $472,380 Month 10
$0 $0 $0 $0 $496,000 Month 11
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Pro Forma Balance Sheet Month 1 Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth $0 $50,000 $0 $50,000 $476,000 $526,000 $321,000 ($432,000) $0 ($111,000) $415,000 ($111,000) $699,716 $50,000 $0 $749,716 $476,000 $1,225,716 $321,000 ($432,000) $87,793 ($23,207) $1,202,509 ($23,207) $482,423 $50,000 $0 $532,423 $476,000 $1,008,423 $321,000 ($432,000) $169,605 $58,605 $1,067,028 $58,605 $500,055 $50,000 $0 $550,055 $476,000 $1,026,055 $321,000 ($432,000) $257,976 $146,976 $1,173,031 $146,976 $335,972 $50,000 $0 $385,972 $476,000 $861,972 $321,000 ($432,000) $316,089 $205,089 $1,067,061 $205,089 $340,770 $50,000 $0 $390,770 $476,000 $866,770 $321,000 ($432,000) $361,393 $250,393 $1,117,163 $250,393 $353,247 $50,000 $0 $403,247 $476,000 $879,247 $321,000 ($432,000) $403,393 $292,393 $1,171,640 $292,393 $343,193 $50,000 $0 $393,193 $476,000 $869,193 $321,000 ($432,000) $441,850 $330,850 $1,200,043 $330,850 $343,042 $50,000 $0 $393,042 $476,000 $869,042 $321,000 ($432,000) $478,664 $367,664 $1,236,706 $367,664 $331,388 $50,000 $0 $381,388 $476,000 $857,388 $321,000 ($432,000) $512,367 $401,367 $1,258,755 $401,367 $415,464 $50,000 $0 $465,464 $476,000 $941,464 $321,000 ($432,000) $561,690 $450,690 $1,392,154 $450,690 $411,194 $50,000 $0 $461,194 $476,000 $937,194 $321,000 ($432,000) $617,261 $506,261 $1,443,455 $506,261 $429,999 $100,000 $0 $529,999 $523,600 $1,053,599 $321,000 ($449,000) $678,904 $550,904 $1,604,503 $550,904 $300,000 $0 $300,000 $415,000 $300,000 $4,583 $295,417 $1,202,509 Month 1 $300,000 $9,167 $290,833 $1,067,028 Month 2 $300,000 $13,750 $286,250 $1,173,031 Month 3 $300,000 $18,333 $281,667 $1,067,061 Month 4 $300,000 $22,917 $277,083 $1,117,163 Month 5 $300,000 $27,500 $272,500 $1,171,640 Month 6 $300,000 $32,083 $267,917 $1,200,043 Month 7 $300,000 $36,667 $263,333 $1,236,706 Month 8 $300,000 $41,250 $258,750 $1,258,755 Month 9 $300,000 $45,833 $254,167 $1,392,154 Month 10 $300,000 $50,417 $249,583 $1,443,455 Month 11 $300,000 $55,000 $245,000 $1,604,503 Month 12 $35,000 $0 $80,000 $0 $115,000 $556,272 $0 $350,821 $0 $907,092 $410,121 $0 $366,074 $0 $776,194 $505,454 $0 $381,327 $0 $886,781 $474,423 $0 $310,971 $0 $785,395 $558,889 $0 $281,191 $0 $840,080 $625,633 $0 $273,507 $0 $899,140 $666,856 $0 $265,271 $0 $932,127 $711,924 $0 $261,449 $0 $973,373 $745,788 $0 $254,218 $0 $1,000,005 $847,454 $0 $290,534 $0 $1,137,988 $888,811 $0 $305,061 $0 $1,193,872 $1,039,189 $0 $320,314 $0 $1,359,503 Starting Balances Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12