Aurora

Income Statement
Projected for 2018, 2016 and 2014
2018

2016

$ 32,500,000
$105,000,000
$137,500,000

$16,500,000
$63,500,000
$80,000,000

Cost of Goods Sold

(Client's food, beverages, miscellaneous items)
Salaries
Advertising
Office Supplies
Utilities
Insurance Expense
Interest Expense
Depreciation Expense
Maintenance and Repairs
Total Operating Expenses

4,296,875

$ 2,500,000

$ 8,619,000
$ 2,000,000
$
850,000
$ 1,500,000
$
500,000
$ 1,506,600
$ 2,544,444
$
150,000
$ 21,966,919

$ 8,619,000
$ 1,500,000
$ 700,000
$ 1,200,000
$ 500,000
$ 2,008,800
$ 2,544,444
$ 130,000
$19,702,244

Income from Operations

$115,533,081

$60,297,756

Other Income
Interest Revenue
Dividends
Gain(Loss) from sale of investments

$
$
$

$
$
$

Income before Taxes

$115,938,081

$60,377,756

Provision for Income Taxes

$ 40,578,328

$21,132,214

Net Income

$ 75,359,752

$39,245,541

Gross Sales
Initiantion Fees
Membership Fees
Net Sales Revenue

325,000
35,000
45,000

50,000
10,000
20,000

2014
$16,000,000
$32,000,000
$48,000,000
$ 1,500,000
$ 8,619,000
$ 1,000,000
$ 500,000
$ 900,000
$ 500,000
$ 2,511,000
$ 2,544,444
$ 100,000
$18,174,444
$29,825,556

$
$
$

$29,825,556
$10,438,944
$19,386,611

Aurora
Balance Sheet
Projected for 2018, 2016 and 2014
2018

2016

ASSETS
Current Assets:
Cash
Accounts receivable less allowances for losses:
Prepaid expenses
Available for Sale Securities
Total Current Assets

$ 32,500,000
$ 105,000,000
$
450,000
$
500,000
$ 138,450,000

$ 16,500,000
$ 63,500,000
$
400,000
$
75,000
$ 80,475,000

Property, plant and equipment, at cost :

Buildings
Machinery and equipment
Automotive equipment
Furniture and fixtures
Less accumulated depreciation
Property, plant and equipment

$ 83,700,000
$
400,000
$
275,000
$ 7,500,000
$ 12,722,222
$ 79,152,778

$ 83,700,000
$
300,000
$
200,000
$ 5,500,000
$ 7,633,333
$ 82,066,667

TOTAL ASSETS

$ 217,602,778

$ 162,541,667

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
Accounts payable
$ 21,966,919
Notes payable - Short Term
$ 9,876,600
Income taxes payable
$ 40,578,328
Total current liabilities
$ 72,421,848

$
$
$
$

Non Current Liabilities:

Notes payable - Long Term

$ 41,850,000

$ 58,590,000

TOTAL LIABILITIES

$ 114,271,848

$ 109,803,259

Stockholders' Equity:
Investments from Owners
Retained Earnigns
Total Stockholders' Equity

$ 20,000,000
$ 83,330,930
$ 103,330,930

$ 20,000,000
$ 32,738,408
$ 52,738,408

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$ 217,602,778

$ 162,541,667

19,702,244
10,378,800
21,132,214
51,213,259

2014

$ 15,898,833
$ 32,000,000
$
320,000
$
$ 48,218,833

$ 83,700,000
$
250,000
$
200,000
$ 5,000,000
$ 2,544,444
$ 86,605,556

$ 134,824,389

$
$
$
$

18,174,444
10,881,000
10,438,944
39,494,389

$ 75,330,000
$ 114,824,389

$ 20,000,000
$
$ 20,000,000
$ 134,824,389

Revenue

# of Initiation Fees
Price for Initiation
Revenue from Initiation Fees

2018
650
$
50,000
$ 32,500,000

2016
550
$
30,000
$16,500,000

2014
800
$
20,000
$16,000,000

# of Basic Members
Annual Fee for Basic Membership
Revenue from Basic Memebers

1500
$
30,000
$ 45,000,000

1000
$
25,000
$25,000,000

600
$
20,000
$12,000,000

# of Full Members
Annual Fee for Full Membership - Includes Condo
Revenue from Full Memebers

500
$
120,000
$ 60,000,000

350
$ 110,000
$38,500,000

200
$ 100,000
$20,000,000

Year Revenue

$ 137,500,000

$80,000,000

$48,000,000

Building Notes
Price for Building :
Chicago

$ 14,200,000

New York City

$ 33,000,000

Los Angeles

$ 36,500,000

Total

$ 83,700,000

(4.2 million for purchase and 10 million for building upwards an additional 40
and 5 million for remodling i.e. restaurant, spa, security safe box area, golf sim
(28 million for purchase and 5 million for remodling i.e. restaurant, spa, secur
area, golf simulator)
(31.5 million million for purchase and 5 million for remodling i.e. restaurant,
safe box area, golf simulator)

building upwards an additional 40,000 sq ft.

pa, security safe box area, golf simulator)
modling i.e. restaurant, spa, security safe box

ion for remodling i.e. restaurant, spa, security

Depreciation Schedules for Buildings

Straight-Line Method; Useful Life of 27 years
Chicago
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

($2 million salvage value)

Book Value
Depreciation ExpenseAccumulated Depreciation
$ 14,200,000
$ 13,748,148 $
451,852 $
451,852
$ 13,296,296 $
451,852 $
903,704
$ 12,844,444 $
451,852 $
1,355,556
$ 12,392,593 $
451,852 $
1,807,407
$ 11,940,741 $
451,852 $
2,259,259
$ 11,488,889 $
451,852 $
2,711,111
$ 11,037,037 $
451,852 $
3,162,963
$ 10,585,185 $
451,852 $
3,614,815
$ 10,133,333 $
451,852 $
4,066,667
$ 9,681,481 $
451,852 $
4,518,519
$ 9,229,630 $
451,852 $
4,970,370
$ 8,777,778 $
451,852 $
5,422,222
$ 8,325,926 $
451,852 $
5,874,074
$ 7,874,074 $
451,852 $
6,325,926
$ 7,422,222 $
451,852 $
6,777,778
$ 6,970,370 $
451,852 $
7,229,630
$ 6,518,519 $
451,852 $
7,681,481
$ 6,066,667 $
451,852 $
8,133,333
$ 5,614,815 $
451,852 $
8,585,185
$ 5,162,963 $
451,852 $
9,037,037
$ 4,711,111 $
451,852 $
9,488,889
$ 4,259,259 $
451,852 $
9,940,741
$ 3,807,407 $
451,852 $
10,392,593
$ 3,355,556 $
451,852 $
10,844,444
$ 2,903,704 $
451,852 $
11,296,296
$ 2,451,852 $
451,852 $
11,748,148
$ 2,000,000 $
451,852 $
12,200,000

Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

New York

($6 million salvage value)

Book Value
Depreciation ExpenseAccumulated Depreciation
33,000,000
32,000,000 $
1,000,000 $
1,000,000
31,000,000 $
1,000,000 $
2,000,000
30,000,000 $
1,000,000 $
3,000,000
29,000,000 $
1,000,000 $
4,000,000
28,000,000 $
1,000,000 $
5,000,000
27,000,000 $
1,000,000 $
6,000,000
26,000,000 $
1,000,000 $
7,000,000
25,000,000 $
1,000,000 $
8,000,000
24,000,000 $
1,000,000 $
9,000,000
23,000,000 $
1,000,000 $
10,000,000
22,000,000 $
1,000,000 $
11,000,000
21,000,000 $
1,000,000 $
12,000,000
20,000,000 $
1,000,000 $
13,000,000
19,000,000 $
1,000,000 $
14,000,000
18,000,000 $
1,000,000 $
15,000,000
17,000,000 $
1,000,000 $
16,000,000
16,000,000 $
1,000,000 $
17,000,000
15,000,000 $
1,000,000 $
18,000,000
14,000,000 $
1,000,000 $
19,000,000
13,000,000 $
1,000,000 $
20,000,000
12,000,000 $
1,000,000 $
21,000,000
11,000,000 $
1,000,000 $
22,000,000
10,000,000 $
1,000,000 $
23,000,000
9,000,000 $
1,000,000 $
24,000,000
8,000,000 $
1,000,000 $
25,000,000
7,000,000 $
1,000,000 $
26,000,000
6,000,000 $
1,000,000 $
27,000,000

Los Angeles
Year Book Value
$ 36,500,000
1 $ 35,407,407
2 $ 34,314,815
3 $ 33,222,222
4 $ 32,129,630
5 $ 31,037,037
6 $ 29,944,444
7 $ 28,851,852
8 $ 27,759,259
9 $ 26,666,667
10 $ 25,574,074
11 $ 24,481,481
12 $ 23,388,889
13 $ 22,296,296
14 $ 21,203,704
15 $ 20,111,111
16 $ 19,018,519
17 $ 17,925,926
18 $ 16,833,333
19 $ 15,740,741
20 $ 14,648,148
21 $ 13,555,556
22 $ 12,462,963
23 $ 11,370,370
24 $ 10,277,778
25 $
9,185,185
26 $
8,092,593
27 $
7,000,000

($7 million salvage value)

Depreciation ExpenseAccumulated Depreciation
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593
1,092,593

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,092,593
2,185,185
3,277,778
4,370,370
5,462,963
6,555,556
7,648,148
8,740,741
9,833,333
10,925,926
12,018,519
13,111,111
14,203,704
15,296,296
16,388,889
17,481,481
18,574,074
19,666,667
20,759,259
21,851,852
22,944,444
24,037,037
25,129,630
26,222,222
27,314,815
28,407,407
29,500,000

Notes Payable Schedules

Assume: 10 year loan
3% Interest
Chicago
Period
1
2
3
4
5
6
7
8
9
10

Beginning
Payment to
Balance
Reduce Balance
$ 14,200,000 $
1,420,000
$ 12,780,000 $
1,420,000
$ 11,360,000 $
1,420,000
$ 9,940,000 $
1,420,000
$ 8,520,000 $
1,420,000
$ 7,100,000 $
1,420,000
$ 5,680,000 $
1,420,000
$ 4,260,000 $
1,420,000
$ 2,840,000 $
1,420,000
$ 1,420,000 $
1,420,000

Interest
Expense
$ 426,000
$ 383,400
$ 340,800
$ 298,200
$ 255,600
$ 213,000
$ 170,400
$ 127,800
$ 85,200
$ 42,600

Total
Payment
$ 1,846,000
$ 1,803,400
$ 1,760,800
$ 1,718,200
$ 1,675,600
$ 1,633,000
$ 1,590,400
$ 1,547,800
$ 1,505,200
$ 1,462,600

Ending
Balance
$ 12,780,000
$ 11,360,000
$ 9,940,000
$ 8,520,000
$ 7,100,000
$ 5,680,000
$ 4,260,000
$ 2,840,000
$ 1,420,000
$
-

Beginning
Payment to
Balance
Reduce Balance
$ 33,000,000 $
3,300,000
$ 29,700,000 $
3,300,000
$ 26,400,000 $
3,300,000
$ 23,100,000 $
3,300,000
$ 19,800,000 $
3,300,000
$ 16,500,000 $
3,300,000
$ 13,200,000 $
3,300,000
$ 9,900,000 $
3,300,000
$ 6,600,000 $
3,300,000
$ 3,300,000 $
3,300,000

Interest
Expense
$ 990,000
$ 891,000
$ 792,000
$ 693,000
$ 594,000
$ 495,000
$ 396,000
$ 297,000
$ 198,000
$ 99,000

Total
Payment
$ 4,290,000
$ 4,191,000
$ 4,092,000
$ 3,993,000
$ 3,894,000
$ 3,795,000
$ 3,696,000
$ 3,597,000
$ 3,498,000
$ 3,399,000

Ending
Balance
$ 29,700,000
$ 26,400,000
$ 23,100,000
$ 19,800,000
$ 16,500,000
$ 13,200,000
$ 9,900,000
$ 6,600,000
$ 3,300,000
$
-

Interest
Expense
$1,095,000
$ 985,500
$ 876,000
$ 766,500
$ 657,000
$ 547,500
$ 438,000
$ 328,500
$ 219,000

Total
Payment
$ 4,745,000
$ 4,635,500
$ 4,526,000
$ 4,416,500
$ 4,307,000
$ 4,197,500
$ 4,088,000
$ 3,978,500
$ 3,869,000

Ending
Balance
$ 32,850,000
$ 29,200,000
$ 25,550,000
$ 21,900,000
$ 18,250,000
$ 14,600,000
$ 10,950,000
$ 7,300,000
$ 3,650,000

New York
Period
1
2
3
4
5
6
7
8
9
10

Los Angeles
Period
1
2
3
4
5
6
7
8
9

Beginning
Payment to
Balance
Reduce Balance
$ 36,500,000 $
3,650,000
$ 32,850,000 $
3,650,000
$ 29,200,000 $
3,650,000
$ 25,550,000 $
3,650,000
$ 21,900,000 $
3,650,000
$ 18,250,000 $
3,650,000
$ 14,600,000 $
3,650,000
$ 10,950,000 $
3,650,000
$ 7,300,000 $
3,650,000

10

$ 3,650,000

3,650,000

$ 109,500

$ 3,759,500

Annual Salary Budget

$ 1,000,000
CEO
$ 750,000
CFO
$ 600,000
COO
$ 450,000
Treasurer
$ 375,000
Controllers
$ 125,000
Executive Chef
$ 345,000
General Managers
$ 84,000
Banquet Captain
$ 144,000
Bartender
$ 96,000
Bus Boy
$ 180,000
Food and Beverage Manager
$ 96,000
Head Waiter
$ 180,000
Waiter/Waitress
$ 66,000
Hostess
$ 168,000
Dishwasher
$ 240,000
Line Cooks
$ 180,000
Sous Chef
Aurora Spa & Health Club Athletic Trainer $ 120,000
Aurora Spa & Health Club Barber/Stylist $ 75,000
$ 75,000
Aurora Spa & Health Club Clerk
$ 210,000
Aurora Spa & Health Club Masseuse
$ 150,000
Aurora Spa & Health Club Manager
$ 300,000
Financial Analyst
Accounts Payable Clerk
$ 120,000
Accounts Receivable Clerk
$ 120,000
Regional Treasurer
$ 180,000
Senior Accountant
$ 300,000
Bookkeeper
$ 120,000
Market Analyst
$ 165,000
Advertisement Designer
$ 165,000
Business Promoter
$ 150,000
Marketing Manager
$ 210,000
Portfolio Manager
$ 150,000
Human Resource Director
$ 210,000
Supervisors
$ 270,000
Compliance Director
$ 180,000
Human Resource Assistant
$ 120,000
Information Technology Specialist
$ 150,000
$ 162,000
Maids
Utility Specialist
$ 150,000
Security Officer
$ 450,000
Janitor
$ 216,000
Clerk
$ 162,000

($125,000 each)
($115,000 each)
($28,000 each)
($24,000 each)
($16,000 each)
($60,000 each)
($32,000 each)
($20,000 each)
($22,000 each)
($28,000 each)
($40,000 each)
($60,000 each)
($40,000 each)
($25,000 each)
($25,000 each)
($35,000 each)
($50,000 each)
($75,000 each)
($40,000 each)
($40,000 each)
($60,000 each)
($100,000 each)
($40,000 each)
($55,000 each)
($55,000 each)
($50,000 each)
($70,000 each)
($50,000 each)
($70,000 each)
($30,000 each)
($35,000 each)
($40,000 each)
($50,000 each)
($18,000 each)
($25,000 each)
($25,000 each)
($18,000 each)
($18,000 each)

Valet
TOTAL

$ 144,000
$ 8,619,000

($24,000 each)