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La Bamba 2009 2010 Sales £1,196,000 £1,270,000 Cost of Sales £589,600 £656,000 Gross Margin £606,400 £614,000 Gross Margin % 50.70% 48.35% Expenses Payroll £345,350 £407,000 Sales and Marketing and Other Expenses £24,000 £30,000 Depreciation £9,600 £9,600 Renovation Expenses £150,000 £0 Utilities £6,000 £6,000 Insurance £0 £0 Rent £36,000 £36,000 Payroll Taxes £0 £0 Other £0 £0 Total Operating Expenses £570,950 £488,600 Profit Before Interest and Taxes £35,450 £125,400 Interest Expense £10,675 £8,331 Taxes Incurred £1,432 £41,121 Net Profit £23,343 £75,948 Net Profit/Sales 1.95% 5.98%
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La Bamba Proforma Balance Sheet (as of December 31) 2009 2010 Assets Current Assets Cash £132,541 £183,953 Accounts Receivable £96,800 £106,184 Inventory £69,850 £77,716 Other Current Assets £50,000 £50,000 Total Current Assets £349,191 £417,853 Long-term Assets Long-term Assets
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