Could you please help me to make a 3 year plan for the profit and loss and balance sheet for the barber shop with the assumptions.

thanks heaps

Previous answer  given

Profit and loss (Yearly)

Sales $800000

Direct cost of sales $350000

Gross margin $450000

Expenses

Payroll  $100000

Sales and marketing exp $50000

Depreciation $2000

Insurance $10000

Utility $9000

Rent $150000

Total operating expenses $321000

Profit before income tax $129000

Interest expense $20000

Taxes incurred $40000

Net Profit $69000

Balance sheet

Assets

Depreciation $2000

Cash $100000

Inventory $100000

Accounts payable $50000

Total asset $252000

Liabilities

Long term liability $150000

Paid up capital $15000

Earnings $69000

Total liabilities $234000

Net worth $18000

the figures were given on the 1st question regarding the barber shop

1). P&L and Balance Sheet 5% - Financial plans provide a three year P&L summary (1/2 page) and Balance sheet summary (1/2 page) that are JUSTIFIED and consistent with the previous sections of the business plan. 

2). Capital requirements and funding plan 5% - Financial plans identify plausible initial capital requirements and capital funding plan. I 

3). Valuation and justification 5% - Financial plans include a plausible business valuation at the end of year 3 using either the asset value, capitalized future earnings, earnings multiple or comparable sales approach. Both the choice of valuation method and the assumptions used to calculate the valuation are justified.

Answer rating: 100% (QA)

1 Profit and loss Yearly Sales 800000 Direct cost of sales 350000 Gross margin 450000 Expense... View the full answer