Estimate your revenues and expenses, month by month, for the first year of your startup coffee shop using the details you previously entered in your business plan (such as price and production projections). If you will be producing a tangible good, how many units do you expect to sell each month, and what will your revenues be? Or, in the case of a service business, how many customers do you expect to work with each month, and what will your revenues be? What about the cost of goods sold and your operating expenses? Prepare an abbreviated income statement covering your first year, using your best estimates, and indicate the gross profit and net income before taxes

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Lets assume our startup coffee shop will sell tangible goods coffee beverages and snacks Heres a rou... View the full answer