The above is the 2012 to 2014 balance sheet for

The above is the 2012 to 2014 balance sheet for the company. Considering there is the availability of a new market segment, please draft the projected income statement for 2015 based on the below-given information.

After observing a segment of consumers purchasing fresh grocery items from independent specialty stores, Liambotis believed the Bakery could increase its sales to residential customers. For this option, he would rent an outdoor farmers' market booth at the Covent Garden Market located in downtown London. The market operated from May to October, and a booth rental cost $520 per season for 26 Saturdays. Another $500 would be spent on signage and supplies. Liambotis would hire a part-time employee at the minimum wage rate to sell the Bakery's loaves from 8:00 a.m. to 1:00 p.m. at the market and to set up and close the booth (an additional 60 minutes) each Saturday.

A selection of the Bakery's premium bread loaves (e.g., fresh-baked rolls artisan sourdough, and rye bread) would be sold for an average price of $4.50 per loaf (prices ranged from $2.99 to $5.99 per loaf). Liambotis liked the idea of increasing his residential customer base, connecting with customers on a personal level, and gaining more local exposure for the Bakery; however, he wondered if this was a good fit for the business. Would a temporary part-time employee be able to effectively represent the Bakery at the market? Another concern was the Bakery's ability to secure a booth at the market. Booth entry was competitive and, to be eligible, businesses needed to be local growers, farmers, or producers. Although Liambotis planned to sell loaves made from locally-sourced ingredients, most of his primary suppliers were not from London.

Preparation of projected statement of balance sheet:

EXHIBIT 3: THE ITALIAN BAKERY-BALANCE SHEETS (AS AT DECEMBER 31) 2014 2013 ASSETS Current assets Cash Marketable securities A