Could you please help me to make a 3 year plan for the profit and loss and
Question:
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.
South Western Federal Taxation 2015 Essentials of Taxation Individuals and Business Entities
ISBN: 9781285438290
18th edition
Authors: James Smith, William Raabe, David Maloney, James Young