Question: help to create a balance sheet for my project for year 1: income statement REVENUE Year 1 Year 2 Year 3 Gross sales $129,975.00 $162,468.75
help to create a balance sheet for my project for year 1:
| income statement | ||||
| REVENUE | Year 1 | Year 2 | Year 3 | |
| Gross sales | $129,975.00 | $162,468.75 | $203,085.94 | |
| NET SALES | $129,975.00 | $162,468.75 | $203,085.94 | |
| EXPENSES | ||||
| Administrative expenses | ||||
| Salaries and employee expenses | $156,500.00 | $156,500.00 | $156,500.00 | |
| Legal fees and Insurance | $7,000.00 | $3,000.00 | $3,000.00 | |
| Website Apps & Software | $10,000.00 | $1,000.00 | $1,000.00 | |
| Search Engine Optimization | $1,000.00 | $1,000.00 | $1,000.00 | |
| Marketing and Outreach Expenses | $7,000.00 | $6,000.00 | $6,000.00 | |
| Welcome Gift Production | $4,993.20 | $6,241.50 | $7,801.88 | |
| Loan Repayment | $0.00 | $10,781.92 | $10,781.92 | |
| Interest | $0.00 | $6,700.00 | $6,432.87 | |
| TOTAL OPERATING EXPENSES | $186,493.20 | $191,223.42 | $192,516.67 | |
| Net Income before taxes | ($56,518.20) | ($28,754.67) | $10,569.27 | |
| Taxes | $0.00 | $0.00 | $1,215.47 | |
| Net profit | ($56,518.20) | ($28,754.67) | $9,353.81 |
| Start up costs (Costs in Year 1 only) | |
| Salaries for year 1 | $156,500.00 |
| Website Development | $10,000 |
| Digital Marketing | $5,000 |
| Property Owner outreach | $2,000 |
| Legal fees and Insurance | $7,000 |
| Search Engine Optimization | $1,000 |
| Gifts Year 1 | $4,993.20 |
| Required Funds in Year 1 | $186,493.20 |
| Annual expenses | |
| Salaries | $156,500.00 |
| Website Maintenance | $1,000 |
| Search Engine Optimization | $1,000 |
| Content Creation | $5,000 |
| Email Outreach | $500 |
| Promotional Materials for property owners | $500 |
| Insurance | $3,000 |
| Loan Repayment amount | $10,781.92 |
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