15.2 Assignment: Claire's Cuttery * Your Task Using the information provided below, answer the serie: of questions presented in Part I and Part II, below. Wher preparing your written submission, include both your calculations and your written analysis of the financial information. Download Claire's Income Statement (attached below). which you'll need to complete this assignment. Claire's Cuttery Claire has always loved working with hair and beauty products and has decided that she will quit her day job and use the money her grandfather left her to start a salon. All of her friends think it's a great idea, but her brother cautions her about "leaping before she looks." She decides that, before she begins, she will project he sales for the first year to prove to her family that she ha winning idea. She sits down with paper and pencil and completes the expense part of the Income Statement shown in the file "Claire's Income Statement." But she needs help projecting her sales, so using the following assumption! and information, complete the "Income" section of the Income Statement for her. PART 1: Year 1 Projections Her Business Claire will have 3 stylists available. For planning purposes she assumes the following: - Each stylist can accommodate 6 customers per day. The stylists each work 20 days per month. - Claire also acts as a stylist, but she can only accommodate 4 customers per day since she also serves as receptionist. However, since it is her business, she works 6 days per week (24 days per month). - She has estimated, on average, that each customer wil generate $12.00 in revenue. - She estimates that based on her research, it will cost her about $2.50 in supplies per customer/per cut. - She will operate January through December and close the month of February for a vacation at her favorite ski resort. Market Share There are 8 other salons in the area that will compete for business. Claire has talked to the local Chamber, and they estimate that about 15,000 people now live in her town. She assumes that she can capture about 24% of the market. Sales Projections for Year 1 She assumes that the sales volume will be distributed as follows: 1. What are the total number of customers Claire can take in each month based on her assumptions? Is this enough to meet her market and sales projections, or does she have to reduce the sales projections because she runs out of capacity? To help you answer this question, fill out the chart below and include it in your write-up. 2. Can Claire accommodate 20% of her annual sales in one month (June), given that she has only 3 stylists available? How should she address this? 3. Will she show a profit or a loss for the business if she achieves her sales figures as projected