For the next eight $(8)$ questions, you will need the supplemental Excel file found$$HERE$.$

You are an Associate at a private equity firm that is performing due diligence on Delightful Bites Gourmet Ice Cream. You need to complete a P&L projection to analyze the company$$s revenue, expenses and margin profile before providing a recommendation to your deal team as to whether or not this opportunity is worth spending more time on$.$

Delightful Bites Gourmet Ice Cream is a premier producer and distributor of high$-$quality, artisanal ice cream, renowned for its commitment to using only the finest natural ingredients. Founded in the heart of Vermont, the company has quickly established itself as a leader in the gourmet food industry, specializing in creating unique and sophisticated flavors that cater to the refined palates of ice cream enthusiasts. Delightful Bites boasts a carefully curated selection of SKUs, each representing the brand$$s commitment to excellence and innovation in the ice cream market. The company serves a diverse clientele, distributing its gourmet ice cream to $250$ high$-$end grocery stores, specialty food markets, and boutique retailers across the country. The company ensures the integrity of its products through meticulous cold chain management, from production to delivery, employing specialized logistics like freight in$,$ cold storage, and freight out to maintain optimal quality.

NOTE: You are working only in the$$yellow shaded cells. The Excel file is already formatted for you. To avoid calculation errors, do not change the formatting in the file.

Step $1$: Complete the revenue and expense builds in the Delightful Bites Gourmet Ice Cream projection model $($i$.$e$.$ the yellow shaded cells$)$ based on the drivers provided for you in columns G thought I.

Step $2$: Use the completed model to answer the following questions. Question $4$ of $8$: How fast will Delightful Bites$$ Net Revenue be growing year over year in $2025?$ DELIGHTFUL BITES GOURMET ICE CREAM P&L BUILD $$ DRIVERS $202320242025202320242025$ Revenue YoY $\%$ # of SKUs $5\mathrm{.}06\mathrm{.}07\mathrm{.}0$ Cases Per Store Per Week $10\mathrm{.}010\mathrm{.}0\%12\mathrm{.}5\%$ # of Stores $25020\mathrm{.}0\%25\mathrm{.}0\%$ # of Weeks$/$Yr $525252$ # of Cases $$ YoY $\%$ Price$/$Case $($ASP$)25\mathrm{.}005\mathrm{.}0\%6\mathrm{.}0\%$ Gross Revenue $\%$ of Gross Revenue Trade Spend $1\mathrm{.}0\%1\mathrm{.}0\%1\mathrm{.}0\%$ Reclaims $3\mathrm{.}0\%3\mathrm{.}0\%3\mathrm{.}0\%$ Slotting$/$Free Fill $1\mathrm{.}0\%1\mathrm{.}5\%2\mathrm{.}0\%$ Net Revenue $$ YoY $\%$ Net $\%$ of Gross Revenue$$ COGS $\%$ of Gross Revenue Freight In $1\mathrm{.}0\%1\mathrm{.}5\%2\mathrm{.}0\%$ Cold Storage $3\mathrm{.}0\%3\mathrm{.}0\%3\mathrm{.}0\%$ Freight Out $1\mathrm{.}0\%1\mathrm{.}0\%1\mathrm{.}0\%$ Materials, Supplies $7\mathrm{.}5\%7\mathrm{.}5\%7\mathrm{.}5\%$ Tolling $3\mathrm{.}0\%3\mathrm{.}0\%3\mathrm{.}0\%$ Total COGS $$ Gross Profit $$ Gross Margin $\%$ SG&A Employee Build YoY $\%$ # of Employees $10055\mathrm{.}0\%50\mathrm{.}0\%$ YoY $\%$ Salary$/$Employee$/$Yr $75,0005\mathrm{.}0\%7\mathrm{.}5\%$ Benefit Load, $\%$ Salary$/$Employee$/$Yr Benefit$/$Employee $22\mathrm{.}0\%22\mathrm{.}0\%22\mathrm{.}0\%$ Fully Loaded Cost$/$Employee $$ # of Employees $$ Cost$/$Employee $$ Total Employee Cost $$ Employee Cost $\%$ of Net Revenue $$ Employee Cost YoY $\%\%$ of Gross Revenue Non$-$Employee SG&A $10\mathrm{.}0\%11\mathrm{.}5\%13\mathrm{.}0\%$ Total SG&A $$ EBITDA $$ Margin $\%$