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Table of Contents
1.0 Executive Summary ......................................................................................................................................1
Chart: Highlights ..............................................................................................................................1
1.1 Objectives ...........................................................................................................................................1
1.2 Mission ................................................................................................................................................1
1.3 Keys to Success..................................................................................................................................1
2.0 Company Summary ......................................................................................................................................2
2.1 Company Ownership ..........................................................................................................................2
2.2 Start-up Summary ...............................................................................................................................2
Table: Start-up.................................................................................................................................2
Chart: Start-up .................................................................................................................................3
3.0 Products ........................................................................................................................................................3
4.0 Market Analysis Summary ............................................................................................................................3
4.1 Market Segmentation ..........................................................................................................................3
Table: Market Analysis ....................................................................................................................4
Chart: Market Analysis (Pie) ...........................................................................................................4
4.2 Target Market Segment Strategy .......................................................................................................4
4.3 Industry Analysis .................................................................................................................................4
4.3.1 Competition and Buying Patterns ..........................................................................................4
5.0 Strategy and Implementation Summary .......................................................................................................5
5.1 SWOT Analysis ...................................................................................................................................5
5.1.1 Strengths ................................................................................................................................5
5.1.2 Weaknesses ..........................................................................................................................5
5.1.3 Opportunities ..........................................................................................................................5
5.1.4 Threats ...................................................................................................................................5
5.2 Competitive Edge................................................................................................................................5
5.3 Marketing Strategy ..............................................................................................................................5
5.4 Sales Strategy .....................................................................................................................................6
5.4.1 Sales Forecast .......................................................................................................................6
Table: Sales Forecast ...........................................................................................................6
Chart: Sales Monthly .............................................................................................................6
Chart: Sales by Year .............................................................................................................7
5.5 Milestones ...........................................................................................................................................7
Table: Milestones ............................................................................................................................7
Chart: Milestones ............................................................................................................................8
6.0 Management Summary ................................................................................................................................8
6.1 Personnel Plan ....................................................................................................................................9
Table: Personnel .............................................................................................................................9
7.0 Financial Plan ...............................................................................................................................................9
7.1 Start-up Funding .................................................................................................................................9
Table: Start-up Funding ................................................................................................................10
7.2 Important Assumptions .....................................................................................................................10
7.3 Break-even Analysis .........................................................................................................................10
Table: Break-even Analysis ..........................................................................................................10
Chart: Break-even Analysis ...........................................................................................................11
7.4 Projected Profit and Loss ..................................................................................................................11
Table: Profit and Loss ...................................................................................................................12
Chart: Profit Monthly .....................................................................................................................12
Chart: Profit Yearly ........................................................................................................................13
Chart: Gross Margin Monthly ........................................................................................................13
Chart: Gross Margin Yearly...........................................................................................................14
7.5 Projected Cash Flow .........................................................................................................................14
Table: Cash Flow ..........................................................................................................................15
Chart: Cash ...................................................................................................................................16
Page 1
Table of Contents
7.6 Projected Balance Sheet ..................................................................................................................16
Table: Balance Sheet ....................................................................................................................17
7.7 Business Ratios ................................................................................................................................17
Table: Ratios .................................................................................................................................18
Table: Sales Forecast .........................................................................................................................................1
Table: Personnel .................................................................................................................................................2
Table: Profit and Loss .........................................................................................................................................3
Table: Cash Flow ................................................................................................................................................4
Table: Balance Sheet .........................................................................................................................................5
Page 2
ASCLEP PHARMA
1.0 Executive Summary
1.1 Objectives
1.
To deliver the medicines and surgical supplies to the retailers such us hospitals , clinics
and medical shops .
2. To establish ourself as a premier pharmaceutical distributing company by 2020
1.2 Mission
ASCLEP Pharma offers pharmaceutical , biotechnological and medical device manufactures a
reliable , high quality alternative way for sales and marketing of the products. ASCLEP pharma
improves the return on sales and marketing investment by accelerating the physician learning curve
on prelaunch, new, and existing products. In addition,ASCLEP will benefit small and innovative
biotechnology and pharmaceutical companies that do not have an extensive sales force to cover
Kerala especially in southern districts like Trivandrum, Kollam,Pathanamthitta. Alappuzha &
Kottayam.
1.3 Keys to Success
Page 1
ASCLEP PHARMA
1.
2.
3.
4.
Each of the share holders holds 25% of shares of the company and the profit share of each share
holder is 25% of total net profit.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Stationery
Insurance
Rent
Other
Total Start-up Expenses
$30,000
$5,000
$10,000
$10,000
$10,000
$65,000
Start-up Assets
Cash Required
Start-up Inventory
Other Current Assets
Long-term Assets
Total Assets
$100,000
$200,000
$0
$0
$300,000
Total Requirements
$365,000
Page 2
ASCLEP PHARMA
3.0 Products
The products that ASCLEP Pharma offers
1.
2.
3.
Medicines
Medical Equipments
Surgical Instruments
Page 3
ASCLEP PHARMA
Table: Market Analysis
Market Analysis
Potential Customers
Hospitals
Clinics
Medical Shops
Total
Year 1
Year 2
Year 3
Year 4
Year 5
20
25
100
145
30
38
150
218
45
57
225
327
68
86
338
492
102
129
507
738
Growth
50%
50%
50%
50.20%
CAGR
50.28%
50.72%
50.06%
50.20%
Primary data
Pathanamthitta
Page 4
ASCLEP PHARMA
1.
2.
3.
4.
5.
MALANADU PHARMACEUTICALS
Kozhencherry, Pathanamthitta
M/S Suraj Pharma
Thiruvalla, Pathanamthitta
Samsons
Kozhencherry, Pathanamthitta
Pharma Traders
Thiruvalla, Pathanamthitta
M M Drug Links
Thiruvalla, Pathanamthitta
5.1.1 Strengths
Have a chat with partners..................
5.1.2 Weaknesses
Have a chat with partners..................
5.1.3 Opportunities
Have a chat with partners..................
5.1.4 Threats
Have a chat with partners..................
Page 5
ASCLEP PHARMA
5.4 Sales Strategy
To be Checked with Hassan ..................
Year 2
Year 3
Sales
Medicines
Surgical Instruments
Total Sales
$300,000
$300,000
$600,000
$450,000
$450,000
$900,000
$600,000
$600,000
$1,200,000
Year 1
$180,000
$180,000
$60,000
$420,000
Year 2
$270,000
$270,000
$90,000
$630,000
Year 3
$405,000
$405,000
$120,000
$930,000
Page 6
ASCLEP PHARMA
5.5 Milestones
Have a chat with partners..................
Table: Milestones
Milestones
Milestone
Name me
Name me
Name me
Name me
Name me
Name me
Name me
Name me
Name me
Name me
Totals
Start Date
5/8/2015
5/8/2015
5/8/2015
5/8/2015
5/8/2015
5/8/2015
5/8/2015
5/8/2015
5/8/2015
5/8/2015
End Date
6/7/2015
6/7/2015
6/7/2015
6/7/2015
6/7/2015
6/7/2015
6/7/2015
6/7/2015
6/7/2015
6/7/2015
Budget
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Manager
ABC
ABC
ABC
ABC
ABC
ABC
ABC
ABC
ABC
ABC
Department
Department
Department
Department
Department
Department
Department
Department
Department
Department
Department
Page 7
ASCLEP PHARMA
Page 8
ASCLEP PHARMA
6.1 Personnel Plan
Table: Personnel
Personnel Plan
HR Department
Finanace Department
Marketing Department
Total People
Total Payroll
Year 1
$0
$0
$0
0
Year 2
$0
$0
$0
0
Year 3
$0
$0
$0
0
$0
$0
$0
Page 9
ASCLEP PHARMA
Table: Start-up Funding
Start-up Funding
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required
$65,000
$300,000
$365,000
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
$200,000
$100,000
$0
$100,000
$300,000
$0
$0
$0
$0
$0
Capital
Planned Investment
Owner
Investor
Additional Investment Requirement
Total Planned Investment
$0
$0
$365,000
$365,000
($65,000)
$300,000
$300,000
Total Funding
$365,000
$0
70%
$0
Page 10
ASCLEP PHARMA
Page 11
ASCLEP PHARMA
Table: Profit and Loss
Pro Forma Profit and Loss
Sales
Direct Cost of Sales
Other Costs of Sales
Total Cost of Sales
Year 1
$600,000
$420,000
$0
$420,000
Year 2
$900,000
$630,000
$0
$630,000
Year 3
$1,200,000
$930,000
$0
$930,000
Gross Margin
Gross Margin %
$180,000
30.00%
$270,000
30.00%
$270,000
22.50%
Expenses
Payroll
Marketing/Promotion
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
Other
$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
$180,000
$180,000
$0
$54,000
$270,000
$270,000
$0
$81,000
$270,000
$270,000
$0
$81,000
Net Profit
Net Profit/Sales
$126,000
21.00%
$189,000
21.00%
$189,000
15.75%
Page 12
ASCLEP PHARMA
Page 13
ASCLEP PHARMA
Page 14
ASCLEP PHARMA
Table: Cash Flow
Pro Forma Cash Flow
Year 1
Year 2
Year 3
$600,000
$600,000
$900,000
$900,000
$1,200,000
$1,200,000
$0
$0
$0
$0
$0
$0
$0
$600,000
$0
$0
$0
$0
$0
$0
$0
$900,000
$0
$0
$0
$0
$0
$0
$0
$1,200,000
Year 1
Year 2
Year 3
$0
$349,650
$349,650
$0
$784,831
$784,831
$0
$1,088,958
$1,088,958
$0
$0
$0
$0
$0
$0
$0
$349,650
$0
$0
$0
$0
$0
$0
$0
$784,831
$0
$0
$0
$0
$0
$0
$0
$1,088,958
$250,350
$350,350
$115,169
$465,519
$111,042
$576,561
Cash Received
Expenditures
Page 15
ASCLEP PHARMA
Page 16
ASCLEP PHARMA
Table: Balance Sheet
Pro Forma Balance Sheet
Year 1
Year 2
Year 3
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
$350,350
$80,000
$0
$430,350
$465,519
$219,375
$0
$684,894
$576,561
$318,699
$0
$895,260
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
$0
$0
$0
$430,350
$0
$0
$0
$684,894
$0
$0
$0
$895,260
Year 1
Year 2
Year 3
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$4,350
$0
$0
$4,350
$69,894
$0
$0
$69,894
$91,260
$0
$0
$91,260
Long-term Liabilities
Total Liabilities
$0
$4,350
$0
$69,894
$0
$91,260
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$365,000
($65,000)
$126,000
$426,000
$430,350
$365,000
$61,000
$189,000
$615,000
$684,894
$365,000
$250,000
$189,000
$804,000
$895,260
Net Worth
$426,000
$615,000
$804,000
Assets
Page 17
ASCLEP PHARMA
Table: Ratios
Ratio Analysis
Year 1
n.a.
Year 2
50.00%
Year 3
33.33%
Industry Profile
0.00%
18.59%
0.00%
100.00%
0.00%
100.00%
32.03%
0.00%
100.00%
0.00%
100.00%
35.60%
0.00%
100.00%
0.00%
100.00%
0.00%
100.00%
100.00%
0.00%
100.00%
1.01%
0.00%
1.01%
98.99%
10.21%
0.00%
10.21%
89.79%
10.19%
0.00%
10.19%
89.81%
0.00%
0.00%
0.00%
100.00%
100.00%
30.00%
9.00%
0.00%
30.00%
100.00%
30.00%
9.00%
0.00%
30.00%
100.00%
22.50%
6.75%
0.00%
22.50%
100.00%
0.00%
0.00%
0.00%
0.00%
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
98.93
80.54
1.01%
42.25%
41.83%
9.80
6.66
10.21%
43.90%
39.42%
9.81
6.32
10.19%
33.58%
30.16%
0.00
0.00
0.00%
0.00%
0.00%
Additional Ratios
Net Profit Margin
Return on Equity
Year 1
21.00%
29.58%
Year 2
21.00%
30.73%
Year 3
15.75%
23.51%
n.a
n.a
4.31
81.38
27
1.39
4.21
12.17
16
1.31
3.46
12.17
26
1.34
n.a
n.a
n.a
n.a
0.01
1.00
0.11
1.00
0.11
1.00
n.a
n.a
$426,000
0.00
$615,000
0.00
$804,000
0.00
n.a
n.a
0.72
1%
80.54
1.41
0.00
0.76
10%
6.66
1.46
0.00
0.75
10%
6.32
1.49
0.00
n.a
n.a
n.a
n.a
n.a
Sales Growth
Percent of Total Assets
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
Activity Ratios
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
Page 18
Appendix
Table: Sales Forecast
Sales Forecast
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Sales
Medicines
Surgical Instruments
Total Sales
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
$25,000
$25,000
$50,000
Month 1
$15,000
$15,000
$5,000
$35,000
Month 2
$15,000
$15,000
$5,000
$35,000
Month 3
$15,000
$15,000
$5,000
$35,000
Month 4
$15,000
$15,000
$5,000
$35,000
Month 5
$15,000
$15,000
$5,000
$35,000
Month 6
$15,000
$15,000
$5,000
$35,000
Month 7
$15,000
$15,000
$5,000
$35,000
Month 8
$15,000
$15,000
$5,000
$35,000
Month 9
$15,000
$15,000
$5,000
$35,000
Month 10
$15,000
$15,000
$5,000
$35,000
Month 11
$15,000
$15,000
$5,000
$35,000
Month 12
$15,000
$15,000
$5,000
$35,000
Page 1
Appendix
Table: Personnel
Personnel Plan
HR Department
Finanace Department
Marketing Department
Total People
Total Payroll
Month 1
$0
$0
$0
0
Month 2
$0
$0
$0
0
Month 3
$0
$0
$0
0
Month 4
$0
$0
$0
0
Month 5
$0
$0
$0
0
Month 6
$0
$0
$0
0
Month 7
$0
$0
$0
0
Month 8
$0
$0
$0
0
Month 9
$0
$0
$0
0
Month 10
$0
$0
$0
0
Month 11
$0
$0
$0
0
Month 12
$0
$0
$0
0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Page 2
Appendix
Table: Profit and Loss
Pro Forma Profit and Loss
Sales
Direct Cost of Sales
Other Costs of Sales
Total Cost of Sales
Month 1
$50,000
$35,000
$0
$35,000
Month 2
$50,000
$35,000
$0
$35,000
Month 3
$50,000
$35,000
$0
$35,000
Month 4
$50,000
$35,000
$0
$35,000
Month 5
$50,000
$35,000
$0
$35,000
Month 6
$50,000
$35,000
$0
$35,000
Month 7
$50,000
$35,000
$0
$35,000
Month 8
$50,000
$35,000
$0
$35,000
Month 9
$50,000
$35,000
$0
$35,000
Month 10
$50,000
$35,000
$0
$35,000
Month 11
$50,000
$35,000
$0
$35,000
Month 12
$50,000
$35,000
$0
$35,000
Gross Margin
Gross Margin %
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$15,000
30.00%
$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
$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
$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
$0
$0
$0
$0
$0
$0
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
$15,000
$15,000
$0
$4,500
Net Profit
Net Profit/Sales
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
$10,500
21.00%
Expenses
Payroll
Marketing/Promotion
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
Other
Total Operating Expenses
15%
Page 3
Appendix
Table: Cash Flow
Pro Forma Cash Flow
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$50,000
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$0
$150
$150
$0
$4,500
$4,500
$0
$4,500
$4,500
$0
$4,500
$4,500
$0
$7,833
$7,833
$0
$101,167
$101,167
$0
$4,500
$4,500
$0
$7,833
$7,833
$0
$101,167
$101,167
$0
$4,500
$4,500
$0
$7,833
$7,833
$0
$101,167
$101,167
$0
$0
$0
$0
$0
$0
$0
$150
$0
$0
$0
$0
$0
$0
$0
$4,500
$0
$0
$0
$0
$0
$0
$0
$4,500
$0
$0
$0
$0
$0
$0
$0
$4,500
$0
$0
$0
$0
$0
$0
$0
$7,833
$0
$0
$0
$0
$0
$0
$0
$101,167
$0
$0
$0
$0
$0
$0
$0
$4,500
$0
$0
$0
$0
$0
$0
$0
$7,833
$0
$0
$0
$0
$0
$0
$0
$101,167
$0
$0
$0
$0
$0
$0
$0
$4,500
$0
$0
$0
$0
$0
$0
$0
$7,833
$0
$0
$0
$0
$0
$0
$0
$101,167
$49,850
$149,850
$45,500
$195,350
$45,500
$240,850
$45,500
$286,350
$42,167
$328,517
($51,167)
$277,350
$45,500
$322,850
$42,167
$365,017
($51,167)
$313,850
$45,500
$359,350
$42,167
$401,517
($51,167)
$350,350
Cash Received
Cash from Operations
Cash Sales
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
0.00%
Page 4
Appendix
Table: Balance Sheet
Pro Forma Balance Sheet
Assets
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Starting Balances
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
$100,000
$200,000
$0
$300,000
$149,850
$165,000
$0
$314,850
$195,350
$130,000
$0
$325,350
$240,850
$95,000
$0
$335,850
$286,350
$60,000
$0
$346,350
$328,517
$125,000
$0
$453,517
$277,350
$90,000
$0
$367,350
$322,850
$55,000
$0
$377,850
$365,017
$120,000
$0
$485,017
$313,850
$85,000
$0
$398,850
$359,350
$50,000
$0
$409,350
$401,517
$115,000
$0
$516,517
$350,350
$80,000
$0
$430,350
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
$0
$0
$0
$300,000
$0
$0
$0
$314,850
$0
$0
$0
$325,350
$0
$0
$0
$335,850
$0
$0
$0
$346,350
$0
$0
$0
$453,517
$0
$0
$0
$367,350
$0
$0
$0
$377,850
$0
$0
$0
$485,017
$0
$0
$0
$398,850
$0
$0
$0
$409,350
$0
$0
$0
$516,517
$0
$0
$0
$430,350
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$0
$0
$0
$0
$4,350
$0
$0
$4,350
$4,350
$0
$0
$4,350
$4,350
$0
$0
$4,350
$4,350
$0
$0
$4,350
$101,017
$0
$0
$101,017
$4,350
$0
$0
$4,350
$4,350
$0
$0
$4,350
$101,017
$0
$0
$101,017
$4,350
$0
$0
$4,350
$4,350
$0
$0
$4,350
$101,017
$0
$0
$101,017
$4,350
$0
$0
$4,350
Long-term Liabilities
Total Liabilities
$0
$0
$0
$4,350
$0
$4,350
$0
$4,350
$0
$4,350
$0
$101,017
$0
$4,350
$0
$4,350
$0
$101,017
$0
$4,350
$0
$4,350
$0
$101,017
$0
$4,350
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$365,000
($65,000)
$0
$300,000
$300,000
$365,000
($65,000)
$10,500
$310,500
$314,850
$365,000
($65,000)
$21,000
$321,000
$325,350
$365,000
($65,000)
$31,500
$331,500
$335,850
$365,000
($65,000)
$42,000
$342,000
$346,350
$365,000
($65,000)
$52,500
$352,500
$453,517
$365,000
($65,000)
$63,000
$363,000
$367,350
$365,000
($65,000)
$73,500
$373,500
$377,850
$365,000
($65,000)
$84,000
$384,000
$485,017
$365,000
($65,000)
$94,500
$394,500
$398,850
$365,000
($65,000)
$105,000
$405,000
$409,350
$365,000
($65,000)
$115,500
$415,500
$516,517
$365,000
($65,000)
$126,000
$426,000
$430,350
Net Worth
$300,000
$310,500
$321,000
$331,500
$342,000
$352,500
$363,000
$373,500
$384,000
$394,500
$405,000
$415,500
$426,000
Page 5