Last revised 5/2016. See revision notes on last tab.

Step 1 - Enter info about your company in yellow shaded boxes below.
Starting
Preparer Name Company Name Month Starting Year
Owner The Butler January 2020

Step 2 - Read the following instructions

Color-Coding:
This Microsoft Excel Workbook is designed to provide those
Enter Data Here
starting a business or already running a business with
information that will allow them to make a "go /no-go" decision.
It will help a potential entrepreneur project operating Adjust
profit, as Needed
develop a projected income statement, balance sheet and cash
flow forecast.

It is designed for a wide variety of users, from those who have

little or no accounting or Excel experience to those who may be
Want a guide?
well versed in finance, accounting and the use of Microsoft
Excel.
Visit our website:
The workbook contains a number of worksheets, each
documented two ways. Extensive directions and guidance for a
particular page or on a specific accounting topic are score.org/startyourbusin
found in
blue boxes (like this one) on pages that are not self-explanatory.
ess
Need to make the
The second way this workbook is documented is using Excel
comments in a given cell. Comments are normally hidden from
numbers bigger?
sight. If you see a red triangle in the upper right corner of a cell,
you can hover your mouse over the triangle to see thethe
Increase note. As
magnification. This
your mouse moves away from the triangle, the comment will
will either be located in the lower
disappear. 1 right-hand corner, or in the
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Comments will have a beige background. Each comment may
page.
January February have a specific direction for that cell,
March April may be a reminder
May of June July
something the author believes important, or may have some
additional information about the accounting topic. The cells and
formulas in this workbook are protected. Cells with yellow or
light blue backgrounds are designed for user input. All other
cells are designed to generate data based on user input.

The cells with formulas in this workbook are locked. If changes

are needed, the unlock code is "1234." Please use caution when
unlocking the spreadsheets. If you want to change a formula,
we strongly recommend that you save a copy of this
spreadsheet under a different name before doing so.
 Start-Up Expenses Year 1
(Starting Balance Sheet)

Prepared By: Company Name:

Owner The Butler

Fixed Assets Amount Depreciation (years) Notes

Real Estate-Land Not Depreciated

Real Estate-Buildings 5
Leasehold Improvements 100,000 5
Equipment 2,136,450 5
Furniture and Fixtures 387,436 5
Vehicles 5
Other 5
Total Fixed Assets $ 2,623,886

Operating Capital Amount Notes

Pre-Opening Salaries and Wages 1,479,000
Prepaid Insurance Premiums
Inventory
Legal and Accounting Fees
Rent Deposits 101,383
Utility Deposits 22,500
Supplies 49,134
Advertising and Promotions 1,375
Licenses 5,742
Other Initial Start-Up Costs 25,000
Working Capital (Cash On Hand) 291,980
Total Operating Capital $ 1,976,114
Total Required Funds $ 4,600,000

Sources of Funding Percentage Totals Loan Rate Term in Months Monthly Payments Notes
Owner's Equity 100.00% 4,600,000
Outside Investors 0.00%
Additional Loans or Debt
Commercial Loan 0.00% 9.00% 84 -
Commercial Mortgage 0.00% 9.00% 240 -
Credit Card Debt 0.00% 7.00% 60 -
Vehicle Loans 0.00% 6.00% 48 -
Other Bank Debt 0.00% 5.00% 36 -
Total Sources of Funding 100.00% $ 4,600,000 Cell D 42 must equal cell C31 $ -
Total Funding Needed $ (0) Your funding exceeds your needs (Not Balanced)

Existing Businesses ONLY -- Calculating Cash on Note: For existing businesses,

Hand
Cash
+ Accounts Receivable
+ Prepaid Expenses
- Accounts Payable
- Accrued Expenses
Total Cash on Hand
this should be the "bucket" of
- cash plus receivables that will be
- turned into cash, minus payables
- that will be paid out in cash in
- the near term (i.e. in the first
- months of the plan)
$ -

445613897.xlsx 1-StartingPoint 11/06/2019 13:08:18

 Payroll Year 1

Prepared By: Company Name:

Owner The Butler
Average
Hourly Pay (to
Number of 2 decimal Estimated Estimated
Owners places, ex. Hrs./Week Pay/Month Februar Septemb Annual
Employee Types /Employees $15.23) (per person) (Total) January y March April May June July August er October November December Totals
Owner(s) $ - - - - - - - - - - - - - $ -
Full-Time Employees 11 $ - - - - - - - - - - - - - $ -
Part-Time Employees 20 $ - - - - - - - - - - - - - $ -
Independent Contractors $ - - - - - - - - - - - - - $ -
Total Salaries and Wages 31 $ - 0 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 5,000,000
Estimated Taxes
&
Percentage of Benefits/Month Februar Septemb Annual
Payroll Taxes and Benefits Wage Base Limit Salary/Wage (Total) January y March April May June July August er October November December Totals
Social Security 6.20% $ - - - - - - - - - - - - - $ -
Medicare 1.45% $ - - - - - - - - - - - - - $ -
Federal Unemployment Tax (FUTA) 0.60% $ - - - - - - - - - - - - - $ -
State Unemployment Tax (SUTA) 3.45% $ - - - - - - - - - - - - - $ -
Employee Pension Programs -- 0.00% $ - - - - - - - - - - - - - $ -
Worker's Compensation -- 0.00% $ - - - - - - - - - - - - - $ -
Employee Health Insurance -- 0.00% $ - - - - - - - - - - - - - $ -
Other Employee Benefit Programs -- 0.00% $ - - - - - - - - - - - - - $ -
Total Payroll Taxes and Benefits 11.70% $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 916,000

Total Salaries and Related Expenses $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 2a-PayrollYear1 11/06/2019 13:08:18

 Payroll Years 1-3

Prepared By: Company Name:

Owner The Butler

Year 1 Growth Rate 1 Second Growth Rate 2 Third

Employee Types Totals to 2 Year to 3 Year
Owner(s) - 20.0% - 30.0% -
Full-Time Employees - 20.0% - 30.0% -
Part-Time Employees - 10.0% - 30.0% -
Independent Contractors - 3.0% - 3.0% -
Total Salaries and Wages $ - $ - $ -

Payroll Taxes and Benefits

Social Security - 20.0% - 30.0% -
Medicare - 20.0% - 30.0% -
Federal Unemployment Tax (FUTA) - 20.0% - 30.0% -
State Unemployment Tax (SUTA) - 20.0% - 30.0% -
Employee Pension Programs - 0.0% - 0.0% -
Worker's Compensation - 3.0% - 3.0% -
Employee Health Insurance - 3.0% - 3.0% -
Other Employee Benefit Programs - 10.0% - 10.0% -
Total Payroll Taxes and Benefits $ - $ - $ -

Total Salaries and Related Expenses $ - $ - $ -

445613897.xlsx 2b-PayrollYrs1-3 11/06/2019 13:08:18

 Sales Forecst Year 1

Prepared By: Company Name:

Owner The Butler

Complete This Chart First:

Product Lines Units COGS Per Unit

Sales Price
Per Unit Margin Per Unit
$ -
$ -
$ -
$ -
$ -
$ -

Category Category /
Product Lines January February March April May June July August September October November December Annual Totals Breakdown Total
Product 1
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Total Margin - - - - - - - - - - - - $ - 0.0% 0.0%

Product 2
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%

Product 3
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%

Product 4
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%

Product 5
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%

Product 6
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%
Total Units Sold 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Cost of Goods Sold $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Margin $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 3a-SalesForecastYear1 11/06/2019 13:08:18

 Sales Forecast Years 1-3
This sheet will populate based on information in the year
1 Sales Forecast.
Prepared by: Company Name:
The included growth rate is just a starting point, if you
can provide a more accurate prediction for each month,
The Butler
Owner unlock the sheet (see Directions) and change the value
for that month. Please note that you will no longer have a
formula in that cell once you change the value, so you
Growth Rate Year 1 to Year 2: 10.00% may want to save a copy of this spreadsheet under a
Growth Rate Year 2 to Year 3: 10.00% different name before doing so.

Category
Product Lines Year 1 Totals January February March April May June July August September October November December Year 2 Totals Breakdown
Product 1
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Total Margin $ - - - - - - - - - - - - - $ - 0.0%

Product 2
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%

Product 3
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%

Product 4
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales 0 - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%

Product 5
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%

Product 6
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%
Total Units Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Cost of Goods Sold $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Margin $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 3b-SalesForecastYrs1-3 11/06/2019 13:08:19

 Sales Forecast Years 1-3

Category / Year 3 Category Category /

Product Lines Total January February March April May June July August September October November December Totals Breakdown Total
Product 1
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%

Product 2
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%

Product 3
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%

Product 4
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%

Product 5
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%

Product 6
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total Units Sold 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Cost of Goods Sold $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Total Margin $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 3b-SalesForecastYrs1-3 11/06/2019 13:08:19

 Additional Inputs

Prepared By: Company Name:

Owner The Butler

Accounts Receivable (A/R) Days Sales Outstanding

Percent of Collections Year 1 Year 2 Year 3
Paid within 30 days 100% 100% 100%
Paid between 30 and 60 days 0% 0% 0%
Paid in more than 60 days 0% 0% 0%
Allowance for bad debt 0% 0% 0%
This should equal 100% ----> 100% 100% 100%

Accounts Payable (A/P)

Percent of Disbursements Year 1 Year 2 Year 3
Paid within 30 days 100% 100% 100%
Paid between 30 and 60 days 0% 0% 0%
Paid in more than 60 days 0% 0% 0%
This should equal 100% ----> 100% 100% 100%

Line of Credit Assumptions

Desired Minimum Cash Balance
Line of Credit Interest Rate

Additional Fixed Assets Purchases

Year 2 Year 3
Fixed Assets Depreciation (years) January February March April May June July August September October November December Year 1 Totals
Total Total
Real Estate 20 $ - $ -
Leasehold Improvements 5 $ 100,000 $ 100,000
Equipment 5 $ 2,136,450 $ 2,136,450
Furniture and Fixtures 5 $ 387,436 $ 387,436
Vehicles 5 $ - $ -
Other Fixed Assets 5 $ - $ - $ - $ -
Total Additional Fixed Assets $ 2,623,886 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,623,886 $ - $ -

Income Tax Assumptions

Effective Income Tax Rate - Year 1 0.0%
Effective Income Tax Rate - Year 2 0.0%
Effective Income Tax Rate - Year 3 0.0%

Amortization of Start-Up Costs

Amortization Period in Years 5

445613897.xlsx 4-AdditionalInputs 11/06/2019 13:08:19

 Operating Expenses Year 1

Prepared By: Company Name:

Owner The Butler

Septemb Novembe
January February March April May June July August er October r December Annual Totals
Expenses
Advertising $ -
Car and Truck Expenses $ -
Commissions and Fees $ -
Contract Labor (Not included in payroll) $ -
Insurance (other than health) $ -
Legal and Professional Services $ -
Licenses $ -
Office Expense $ -
Rent or Lease -- Vehicles, Machinery, Equipment $ -
Rent or Lease -- Other Business Property $ -
Repairs and Maintenance $ -
Supplies $ -
Travel, Meals and Entertainment $ -
Utilities $ -
Miscellaneous $ -
Total Expenses $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

Other Expenses
Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 $ 524,777
Interest
Commercial Loan - - - - - - - - - - - - $ -
Commercial Mortgage - - - - - - - - - - - - $ -
Credit Card Debt - - - - - - - - - - - - $ -
Vehicle Loans - - - - - - - - - - - - $ -
Other Bank Debt - - - - - - - - - - - - $ -
Line of Credit - - - - - - - - - - - - $ -
Bad Debt Expense - - - - - - - - - - - - $ -
Total Other Expenses $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 524,777
Total Fixed Operating Expenses $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 43,731 $ 524,777

445613897.xlsx 5a-OpExYear1 11/06/2019 13:08:19

 Operating Expenses Years 1-3

Prepared By: Company Name:

Owner The Butler

Line Item 2020 Growth Rate 1 to 2 2021 Growth Rate 2 to 3 2022

Advertising - 3.0% - 3.0% -
Car and Truck Expenses - 3.0% - 3.0% -
Commissions and Fees - 5.0% - 5.0% -
Contract Labor (Not included in payroll) - 3.0% - 3.0% -
Insurance (other than health) - 3.0% - 3.0% -
Legal and Professional Services - 3.0% - 3.0% -
Licenses - 5.0% - 5.0% -
Office Expense - 3.0% - 3.0% -
Rent or Lease -- Vehicles, Machinery, Equipment - 3.0% - 3.0% -
Rent or Lease -- Other Business Property - 3.0% - 3.0% -
Repairs and Maintenance - 5.0% - 5.0% -
Supplies - 3.0% - 3.0% -
Travel, Meals and Entertainment - 3.0% - 3.0% -
Utilities - 3.0% - 3.0% -
Miscellaneous - 3.0% - 3.0% -
Total Expenses $ - $ - $ -

Other Expenses
Depreciation 524,777 524,777 524,777
Interest
Commercial Loan - - -
Commercial Mortgage - - -
Credit Card Debt - - -
Vehicle Loans - - -
Other Bank Debt - - -
Line of Credit - - -
Bad Debt Expense -
Total Other Expenses $ 524,777 $ 524,777 $ 524,777
Total Operating Expenses $ 524,777 $ 524,777 $ 524,777

445613897.xlsx 5b-OpExYrs1-3 11/06/2019 13:08:19

 Cash Flow Forecast Year 1

Prepared By: Company Name:

Owner The Butler
Septembe Novembe
January February March April May June July August r October r December Totals
Beginning Balance $291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980
Cash Inflows
Cash Sales - - - - - - - - - - - - $ -
Accounts Receivable - - - - - - - - - - - - $ -
Total Cash Inflows $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

Cash Outflows
Investing Activities
New Fixed Asset Pur - - - - - - - - - - - - $ -
Additional Inventory $ -
Cost of Goods Sold - - - - - - - - - - - - $ -
Operating Activities
Operating Expenses - - - - - - - - - - - - $ -
Payroll - - - - - - - - - - - - $ -
Taxes - - - - - - - - - - - - $ -
Financing Activities
Loan Payments - - - - - - - - - - - - $ -
Owners Distribution $ -
Line of Credit Interest - - - - - - - - - - - $ -
Line of Credit Repayments $ -
Dividends Paid $ -
Total Cash Outflows $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Net Cash Flows $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Operating Cash Balance $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $ 291,980 $291,980 $291,980 $291,980
Line of Credit Drawdown $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Ending Cash Balance $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $ 291,980 $291,980 $291,980 $291,980
Line of Credit Balance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 6a-CashFlowYear1 11/06/2019 13:08:19

 Cash Flow Forecast Years 1-3

NOTE: To only view the annual total side-by-side, highlight columns C through N
Prepared By: Company Name: and right-click. Then select "Hide". Use the same procedure to Hide columns P through AA
B, O and AB, right-click and select "Unhide".
Owner The Butler

Year 1 Totals January February March April May June July August
Beginning Balance $291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980
Cash Inflows
Cash Sales $ - - - - - - - - -
Accounts Receivable $ - - - - - - - - -
Total Cash Inflows $ - $ - $ - $ - $ - $ - $ - $ - $ -

Cash Outflows
Investing Activities
New Fixed Asset P $ - - - - - - - - -
Additional Invento $ -
Cost of Goods Sol $ - - - - - - - - -
Operating Activities
Operating Expens $ - - - - - - - - -
Payroll $ - - - - - - - - -
Taxes $ - - - - - - - - -
Financing Activities
Loan Payments $ - - - - - - - - -
Owners Distribution $ -
Line of Credit Interes $ - - - - - - - - -
Line of Credit Repay $ -
Dividends Paid $ -
Total Cash Outflows $ - $ - $ - $ - $ - $ - $ - $ - $ -
Net Cash Flows $ - $ - $ - $ - $ - $ - $ - $ - $ -
Operating Cash Balance $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980
Line of Credit Drawdown $ - $ - $ - $ - $ - $ - $ - $ - $ -
Ending Cash Balance $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980
Line of Credit Balance $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 6b-CashFlowYrs1-3 11/06/2019 13:08:19

 Cash Flow Forecast Years 1-3

nual total side-by-side, highlight columns C through N

ct "Hide". Use the same procedure to Hide columns P through AA. To show them again, highlight columns
d select "Unhide".

Septembe Novembe Decembe

r October r r Year 2 Totals
Beginning Balance $ 291,980 $ 291,980 $ 291,980 $ 291,980
Cash Inflows
Cash Sales - - - - $ -
Accounts Receivable - - - - $ -
Total Cash Inflows $ - $ - $ - $ - $ -

Cash Outflows
Investing Activities
New Fixed Asset P - - - - $ -
Additional Invento $ -
Cost of Goods Sol - - - - $ -
Operating Activities
Operating Expens - - - - $ -
Payroll - - - - $ -
Taxes - - - -
Financing Activities
Loan Payments - - - - $ -
Owners Distribution $ -
Line of Credit Interes - - - - $ -
Line of Credit Repay $ -
Dividends Paid $ -
Total Cash Outflows $ - $ - $ - $ - $ -
Net Cash Flows $ - $ - $ - $ - $ -
Operating Cash Balance $ 291,980 $291,980 $291,980 $291,980
Line of Credit Drawdown $ - $ - $ - $ - $ -
Ending Cash Balance $ 291,980 $291,980 $291,980 $291,980
Line of Credit Balance $ - $ - $ - $ -

445613897.xlsx 6b-CashFlowYrs1-3 11/06/2019 13:08:19

 Cash Flow Forecast Years 1-3

Septemb
January February March April May June July August er
Beginning Balance $291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980 $ 291,980
Cash Inflows
Cash Sales - - - - - - - - -
Accounts Receivable - - - - - - - - -
Total Cash Inflows - - - - - - - - -

Cash Outflows
Investing Activities
New Fixed Asset P - - - - - - - - -
Additional Invento
Cost of Goods Sol - - - - - - - - -
Operating Activities
Operating Expens - - - - - - - - -
Payroll - - - - - - - - -
Taxes - - - - - - - - -
Financing Activities
Loan Payments - - - - - - - - -
Owners Distribution
Line of Credit Interes - - - - - - - - -
Line of Credit Repay
Dividends Paid
Total Cash Outflows $ - $ - $ - $ - $ - $ - $ - $ - $ -
Net Cash Flows $ - $ - $ - $ - $ - $ - $ - $ - $ -
Operating Cash Balance $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980
Line of Credit Drawdown $ - $ - $ - $ - $ - $ - $ - $ - $ -
Ending Cash Balance $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980 $291,980
Line of Credit Balance $ - $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 6b-CashFlowYrs1-3 11/06/2019 13:08:19

 Cash Flow Forecast Years 1-3

Novembe Decembe
October r r Year 3 Totals
Beginning Balance $ 291,980 $ 291,980 $ 291,980
Cash Inflows
Cash Sales - - - $ -
Accounts Receivable - - - $ -
Total Cash Inflows - - - $ -

Cash Outflows
Investing Activities
New Fixed Asset P - - - $ -
Additional Invento $ -
Cost of Goods Sol - - - $ -
Operating Activities
Operating Expens - - - $ -
Payroll - - - $ -
Taxes - - - $ -
Financing Activities
Loan Payments - - - $ -
Owners Distribution $ -
Line of Credit Interes - - - $ -
Line of Credit Repay $ -
Dividends Paid $ -
Total Cash Outflows $ - $ - $ - $ -
Net Cash Flows $ - $ - $ - $ -
Operating Cash Balance $291,980 $291,980 $291,980
Line of Credit Drawdown $ - $ - $ - $ -
Ending Cash Balance $291,980 $291,980 $291,980
Line of Credit Balance $ - $ - $ -

445613897.xlsx 6b-CashFlowYrs1-3 11/06/2019 13:08:20

 Income Statement Year 1

Prepared By: Company Name:

Owner The Butler

January February March April May June July August

Revenue
Product 1 - - - - - - - -
Product 2 - - - - - - - -
Product 3 - - - - - - - -
Product 4 - - - - - - - -
Product 5 - - - - - - - -
Product 6 - - - - - - - -
Total Revenue $ - $ - $ - $ - $ - $ - $ - $ -
Cost of Goods Sold
Product 1 - - - - - - - -
Product 2 - - - - - - - -
Product 3 - - - - - - - -
Product 4 - - - - - - - -
Product 5 - - - - - - - -
Product 6 - - - - - - - -
Total Cost of Goods Sold $ - $ - $ - $ - $ - $ - $ - $ -
Gross Margin $ - $ - $ - $ - $ - $ - $ - $ -
Payroll $ - $ - $ - $ - $ - $ - $ - $ -
Operating Expenses
Advertising - - - - - - - -
Car and Truck Expenses - - - - - - - -
Commissions and Fees - - - - - - - -
Contract Labor (Not included in payroll) - - - - - - - -
Insurance (other than health) - - - - - - - -
Legal and Professional Services - - - - - - - -
Licenses - - - - - - - -
Office Expense - - - - - - - -
Rent or Lease -- Vehicles, Machinery, Equipment - - - - - - - -
Rent or Lease -- Other Business Property - - - - - - - -
Repairs and Maintenance - - - - - - - -
Supplies - - - - - - - -
Travel, Meals and Entertainment - - - - - - - -
Utilities - - - - - - - -
Miscellaneous - - - - - - - -
Other Expense 1
Other Expense 2
Total Operating Expenses $ - $ - $ - $ - $ - $ - $ - $ -

445613897.xlsx 7a-IncomeStatementYear1 11/06/2019 13:08:20

 Income Statement Year 1

Income (Before Other Expenses) $ - $ - $ - $ - $ - $ - $ - $ -

Other Expenses
Amortized Start-up Expenses 28,069 28,069 28,069 28,069 28,069 28,069 28,069 28,069
Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
Interest
Commercial Loan - - - - - - - -
Commercial Mortgage - - - - - - - -
Credit Card Debt - - - - - - - -
Vehicle Loans - - - - - - - -
Other Bank Debt - - - - - - - -
Line of Credit - - - - - - - -
Bad Debt Expense - - - - - - - -
Total Other Expenses 71,800 71,800 71,800 71,800 71,800 71,800 71,800 71,800
Net Income Before Income Tax $(71,800) $(71,800) $(71,800) $(71,800) $(71,800) $(71,800) $(71,800) $(71,800)
Income Tax $ - $ - $ - $ - $ - $ - $ - $ -
Net Profit/Loss $(71,800) $(71,800) $(71,800) $(71,800) $(71,800) $(71,800) $(71,800) $(71,800)

445613897.xlsx 7a-IncomeStatementYear1 11/06/2019 13:08:20

 Income Statement Year 1

September October November December Annual Totals

- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
$ - $ - $ - $ - $ -

- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
$ - $ - $ - $ - $ -
$ - $ - $ - $ - $ -
$ - $ - $ - $ - $ -

- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -

$ - $ - $ - $ - $ -

445613897.xlsx 7a-IncomeStatementYear1 11/06/2019 13:08:20

 Income Statement Year 1

$ - $ - $ - $ - $ -

28,069 28,069 28,069 28,069 $ 336,827

43,731 43,731 43,731 43,731 $ 524,777

- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
- - - - $ -
71,800 71,800 71,800 71,800 $ 861,604
$ (71,800) $(71,800) $(71,800) $ (71,800) $ (861,604)
$ - $ - $ - $ - $ -
$ (71,800) $(71,800) $(71,800) $ (71,800) $ (861,604)

445613897.xlsx 7a-IncomeStatementYear1 11/06/2019 13:08:20

 Income Statement Years 1-3

Prepared By: Company Name:

Owner The Butler

Revenue 2020 2021 2022

Product 1 - - -
Product 2 - - -
Product 3 - - -
Product 4 - - -
Product 5 - - -
Product 6 - - -
Total Revenue $ - 100% $ - 100% $ - 100%
Cost of Goods Sold
Product 1 - - -
Product 2 - - -
Product 3 - - -
Product 4 - - -
Product 5 - - -
Product 6 - - -
Total Cost of Goods Sold - 0% - 0% - 0%
Gross Margin - 0% - 0% - 0%
Payroll - - -
Operating Expenses
Advertising - - -
Car and Truck Expenses - - -
Commissions and Fees - - -
Contract Labor (Not included in payroll) - - -
Insurance (other than health) - - -
Legal and Professional Services - - -
Licenses - - -
Office Expense - - -
Rent or Lease -- Vehicles, Machinery, Equipment - - -
Rent or Lease -- Other Business Property - - -
Repairs and Maintenance - - -
Supplies - - -
Travel, Meals and Entertainment - - -
Utilities - - -
Miscellaneous - - -
Other Expense 1
Other Expense 2

Total Operating Expenses $ - 0% $ - 0% $ - 0%

Income (Before Other Expenses) $ - 0% $ - 0% $ - 0%

Other Expenses

Amortized Start-up Expenses 336,827 336,827 336,827

Depreciation 524,777 524,777 524,777

Interest

Commercial Loan - - -

Commercial Mortgage - - -

Credit Card Debt - - -

Vehicle Loans - - -

Other Bank Debt - - -

Line of Credit - - -

Bad Debt Expense - - -

Total Other Expenses $ 861,604 0% $ 861,604 0% $ 861,604 0%

Net Income Before Income Tax $ (861,604) $ (861,604) $ (861,604)

Income Tax $ - $ - $ -
Net Income/Loss $ (861,604) 0% $ (861,604) 0% $ (861,604) 0%

445613897.xlsx 7b-IncomeStatementYrs1-3 11/06/2019 13:08:20

 Balance Sheet Years 1-3

Prepared By: Company Name:

Owner The Butler

ASSETS 2020 2021 2022

Current Assets
Cash 291,980 291,980 291,980
Accounts Receivable - - -
Inventory - - -
Prepaid Expenses 1,327,307 995,480 663,653
Other Initial Costs 20,000 15,000 10,000
Total Current Assets $ 1,639,287 $ 1,302,460 $ 965,633

Fixed Assets
Real Estate -- Land - - -
Real Estate -- Buildings - - -
Leasehold Improvements 100,000 100,000 100,000
Equipment 2,136,450 2,136,450 2,136,450
Furniture and Fixtures 387,436 387,436 387,436
Vehicles - - -
Other - - -
Total Fixed Assets $ 2,623,886 $ 2,623,886 $ 2,623,886
(Less Accumulated Depreciation) $ 524,777 $ 1,049,554 $ 1,574,332
Total Assets $ 3,738,395 $ 2,876,791 $ 2,015,187

LIABILITIES & EQUITY

Liabilities
Accounts Payable - - -
Commercial Loan Balance - - -
Commercial Mortgage Balance - - -
Credit Card Debt Balance - - -
Vehicle Loans Balance - - -
Other Bank Debt Balance - - -
Line of Credit Balance - - -
Total Liabilities $ - $ - $ -
Equity
Common Stock 4,600,000 4,600,000 4,600,000
Retained Earnings (861,604) (1,723,208) (2,584,812)
Dividends Dispersed/Owners Draw - - -
Total Equity $ 3,738,396 $ 2,876,792 $ 2,015,188
Total Liabilities and Equity $ 3,738,396 $ 2,876,792 $ 2,015,188

$ (1) $ (1) $ (1)

Balance sheet in or out of balance?
Warning: Not Balanced
Warning: Not Balanced
Warning: Not Balanced

445613897.xlsx 8-BalanceSheet 11/06/2019 13:08:20

 Breakeven Analysis

Prepared By: Company Name:

Owner The Butler

Gross Margin % of Sales

Gross Margin $ -
Total Sales $ -
Gross Margin/Total Sales 0.0%
Total Fixed Expenses

$ -
Payroll

$ 524,777.20
Operating Expenses
Operating + Payroll $ 524,777
Breakeven Sales in Dollars (Annual)

0.0%
Gross Margin % of Sales

$ 524,777
Total Fixed Expenses

$ -
Yearly Breakeven Amount
Monthly Breakeven Amount $ -

445613897.xlsx BreakevenAnalysis 11/06/2019 13:08:20

 Financial Ratios - Year 1

Prepared By: Company Name:

Owner The Butler

Ratios Year One Year Two Year Three Industry Norms Notes
Liquidity
Current Ratio 0.0 0.0 0.0
Quick Ratio 0.0 0.0 0.0
Safety
Debt to Equity Ratio 0.0 0.0 0.0
Debt-Service Coverage Ratio - DSCR 0.0 0.0 0.0
Profitability
Sales Growth 0.0% 0.0% 0.0%
COGS to Sales 0.0% 0.0% 0.0%
Gross Profit Margin 0.0% 0.0% 0.0%
SG&A to Sales 0.0% 0.0% 0.0%
Net Profit Margin 0.0% 0.0% 0.0%
Return on Equity (ROE) -23.0% -30.0% -42.8%
Return on Assets -23.0% -30.0% -42.8%
Owner's Compensation to Sales 0.0% 0.0% 0.0%
Efficiency
Days in Receivables 0.0 0.0 0.0
Accounts Receivable Turnover 0.0 0.0 0.0
Days in Inventory 0.0 0.0 0.0
Inventory Turnover 0.0 0.0 0.0
Sales to Total Assets 0.0 0.0 0.0

445613897.xlsx FinancialRatios 11/06/2019 13:08:20

 Diagnostic Tools - Year 1

Prepared By: Company Name:

Owner The Butler

General Financing Assumptions Value Findings

Owner's Cash Injection into the Business 100.0% Owner's injection is reasonable
Cash Request as percent of Total Required Funds 6.3% Cash request seems reasonable with respect to total request

Loan Assumptions Value Findings

Commercial Loan Interest rate
Commercial Loan Term in Months
Commercial Mortgage Interest rate
Commercial Mortgage Term in Months
Debt-Service Coverage
9.0% Interest rate seems reasonable
84 Loan term seems within range for this type of loan
9.0% Interest rate seems reasonable
240 Loan term seems within range for this type of loan
0.0% Calculated loan payments relative to operating profit seem reasonable

Income Statement Value Findings

Gross Margin as a Percent of Sales
Owner's Compensation Lower Limit Check
Owner's Compensation Upper Limit Check
Advertising Expense Levels as a Percent of Sales
Profitability Levels
Profitability as a Percent of Sales
0.0% Gross margin percentage seems very low
$ - An owner's compensation amount has not been established
0.0% Owner's compensation seems reasonable
0.0% Advertising as a percent of sales may be too low
$(861,604) The business is not showing a profit
0.0% The projection does not seem highly unreasonable

Cash Flow Statement Value Findings

Desired Operating cash Flow Levels $ - The financial projection provides the desired level of cash flow
Line of Credit Drawdowns $ - The business doesn't seem to require a line of credit
Accounts Receivable Ratio to Sales 0.0% Accounts receivable amount as a percent of sales seems reasonable

Balance Sheet Value Findings

Does the Year 1 Balance Sheet Balance? $ (1) The balance sheet is not in balance
Debt to Equity Ratio 0.0% Very comfortable

Breakeven Analysis Value Findings

Do Sales Exceed the Breakeven Level? $ - The sales projection is less than the break-even amount

445613897.xlsx DiagnosticTools 11/06/2019 13:08:20

 COGS Calculator

Prepared By: Company Name:

Owner The Butler

Variable Costs of Products

Timeframe: Month
Product Line: Widget
Raw materials
Labor used to produce product
Costs associated
Production facilitywith shipping
expenses and
(use storingofraw
fraction materials
total if facility is used for other
items)
Total Product Expenses $ -
Number Units Sold in timeframe used
Cost of Goods Sold Per Unit Please enter all information.

Variable Costs of Services

Timeframe: Month
Product Line: Project
Amount spent on labor during timeframe
Amount
List spent variable
any other on materials
costsduring this timeframe
associated with the delivery of your service during
this timeframe.
Total Service Expenses $ -
Number Units Sold During Timeframe
Cost of Goods Sold Per Unit Please enter all information.

445613897.xlsx COGS Calculator 11/06/2019 13:08:20

 Amortization and Depreciation Schedule

Prepared By: Company Name:

Owner The Butler Return to Starting Point

Commercial Loan
Principal Amount $ -
Interest Rate 9.00%
Loan Term in Months 84.00
Monthly Payment Amount $0.00
January February March April May June July August September October
Year One
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Two
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Three
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -

Commercial Mortgage
Principal Amount $ -
Interest Rate 9.00%
Loan Term in Months 240.00
Monthly Payment Amount $0.00
January February March April May June July August September October
Year One
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Two
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Three
Interest - - - - - - - - - -
Principal - - - - - - - - - -
 Amortization and Depreciation Schedule

Loan Balance - - - - - - - - - -
 Amortization and Depreciation Schedule

Credit Card Debt

Principal Amount $ -
Interest Rate 7.00%
Loan Term in Months 60.00
Monthly Payment Amount $0.00
January February March April May June July August September October
Year One
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Two
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Three
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -

Vehicle Loans
Principal Amount $ -
Interest Rate 6.00%
Loan Term in Months 48.00
Monthly Payment Amount $0.00
January February March April May June July August September October
Year One
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Two
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Three
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
 Amortization and Depreciation Schedule

Other Bank Debt

Principal Amount $0.00
Interest Rate 5.00%
Loan Term in Months 36.00
Monthly Payment Amount $0.00
January February March April May June July August September October
Year One
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Two
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -
Year Three
Interest - - - - - - - - - -
Principal - - - - - - - - - -
Loan Balance - - - - - - - - - -

Depreciation
Real Estate-Buildings 5
Leasehold Improvements 5
Equipment 5
Furniture and Fixtures 5
Vehicles 5
Other 5
January February March April May June July August September October
Year One
Starting Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
Additional Depreciation - - - - - - - - - -
Ending Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
Year Two
Starting Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
Additional Depreciation - - - - - - - - - -
Ending Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
Year Three
Starting Depreciation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
Additional Depreciation - - - - - - - - - -
Ending Deprecation 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731 43,731
 Amortization and Depreciation Schedule

Amortization of Start-Up
Costs Monthly
Prepaid Expenses $ 1,659,134
Total Expensed each Year $ 331,827 27652
Other Initial Costs $ 25,000
Total Expensed each Year $ 5,000 417
Prepaid Expenses January February March April May June July August September October
Year One
Amount Amortized 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652
Total Amortized 27,652 55,304 82,957 110,609 138,261 165,913 193,566 221,218 248,870 276,522
Year Two
Amount Amortized 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652
Total Amortized 359,479 387,131 414,783 442,436 470,088 497,740 525,392 553,045 580,697 608,349
Year Three
Amount Amortized 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652 27,652
Total Amortized 691,306 718,958 746,610 774,262 801,915 829,567 857,219 884,871 912,523 940,176
Septembe
Other Initial Costs January February March April May June July August r October
Year One
Amount Amortized 417 417 417 417 417 417 417 417 417 417
Total Amortized 417 833 1,250 1,667 2,083 2,500 2,917 3,333 3,750 4,167
Year Two
Starting Depreciation 417 417 417 417 417 417 417 417 417 417
Ending Depreciation 5,417 5,833 6,250 6,667 7,083 7,500 7,917 8,333 8,750 9,167
Year Three
Starting Depreciation 417 417 417 417 417 417 417 417 417 417
Ending Deprecation 10,417 10,833 11,250 11,667 12,083 12,500 12,917 13,333 13,750 14,167
 Amortization and Depreciation Schedule

November December Totals

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

November December Totals

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

- - $ -
- - $ -
 Amortization and Depreciation Schedule

- -
 Amortization and Depreciation Schedule

November December Totals

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

November December Totals

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -
 Amortization and Depreciation Schedule

November December Totals

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

- - $ -
- - $ -
- -

November December Totals

43,731 43,731 $524,777

- -
43,731 43,731 $524,777

43,731 43,731 $524,777

- -
43,731 43,731 $524,777

43,731 43,731 $524,777

- -
43,731 43,731 $524,777
 Amortization and Depreciation Schedule

November December Totals

27,652 27,652 $331,827

304,174 331,827

27,652 27,652 $331,827

636,001 663,653

27,652 27,652 $331,827

967,828 995,480
Novembe Decembe
r r Totals

417 417 $ 5,000

4,583 5,000

417 417 $ 5,000

9,583 10,000

417 417 $ 5,000

14,583 15,000
Date Last Revised Revised By Notes
Tab 3a, cell O55: added margin from 6th product.
Tab 3b, cells O49 and AD49: added margins from 6th
product. Tab 7b: added % sales for lines 23 and 59
6/21/2013 Heather Hendy for all three years.

Updated Tabs 5a, 5b, 7a, and 7b to automatically

carry over debt categories from Tab 1 in case they
are edited. Updated Tabs 5b, 7a and 7b to carry over
expense categories from tab 5a in case they are
7/14/2013 Heather Hendy edited.

Tab 8 Balance Sheet Cell F41 comes from E41 + tab

6b cell AB24 + tab 6b cell AB27.
However tab 6b cell AB27 did not have a sum total in
the cell.
So when paying Dividends in Year 3 the total for the
year is not calculated and carried over to the Balance
4/23/2014 Heather Hendy Sheet. This has now been updated.

Comments were added to the calculation for Social

Security taxes to clarify that salaries above the wage
base limited ($117,000 currently) will cause the
estimate to be overstated and will require manual
11/12/2015 Joe Clarke calculation.
2/10/2016 Joe Clarke Corrected an error (typo) in Amortization Table.
Corrected an error in the calculation of Income Tax
for Year 3 on Tab 7b and set defaults on Tab 4 to
4/3/2016 Joe Clarke those needed by most startups.
Corrected the calculation of income tax on Tabs 7a
and 7b to realize interest expenses from all loan
5/18/2016 Joe Clarke types as well as bad debt.

Tab 3 b 1-3 year sales forecast correct formula in col

Q and col AF referenced the incorrect totals at the
bottom of the sheet. Col Q, The incorrect formula
was referencing cell O52, O53, O54, O55 needed to
reference O46, O47, O48, O49. Col AF, The incorrect
formula was referencing cell O52, O53, O54, O55
6/7/2018 Michael Gilman needed to reference AD46, AD47, AD48, AD49.

Updated on the Amortization&Depreciation tab rows

122 and 126 all the formluas were incorrectly
dividing the number twice by 12 months it should
have been only divided once. I have changed it and
1/29/2019 Michael Gilman verified everything updates correctly now.
Updated missing forumla on Additional Input sheet
2/19/2019 Mihcael Gilman P31 should be =sum(D31:O31)