Income Projection

Income Projection - $ 1,154,554 $ 1,385,418 $ 1,660,311 $...

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Bent Cycling Author Your name Date Current Date Purpose To project Bent Cycling's income statements for the next five fiscal years
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Bent Cycling Projected Five-Year Income Statement 4/6/2010 Bent Cycling Prepared: 04/06/2010 Projected Five-Year Income Statement Percent Cost of Goods 72% Assumed Tax Rate 33% Year 1 Year 2 Year 3 Year 4 Year 5 Sales Revenue 3,200,000 3,805,463 4,525,483 5,381,737 6,400,000 Cost of Goods Sold 2,304,000 2,739,933 3,258,348 3,874,851 4,608,000 Gross Profit 896,000 $ 1,065,530 $ 1,267,135 $ 1,506,886 $ 1,792,000 $ Accounting 7,000 8,050 9,258 10,646 12,243 21,000 24,150 27,773 31,938 36,729 Insurance 2,000 2,300 2,645 3,042 3,498 Maintenance 4,800 5,520 6,348 7,300 8,395 Utilities 7,600 8,740 10,051 11,559 13,292 Miscellaneous 2,400 2,760 3,174 3,650 4,198 Total General Expenses 44,800 $ 51,520 $ 59,248 $ 68,135 $ 78,355 $ 851,200 1,014,010 1,207,887 1,438,751 1,713,645 Depreciation Expense 53,333 53,333 53,333 53,333 53,333 Operating Profit 797,867 $ 960,676
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Unformatted text preview: $ 1,154,554 $ 1,385,418 $ 1,660,311 $ Interest Expense 107,113 87,704 66,385 42,966 17,243 Earnings Before Taxes 690,754 $ 872,972 $ 1,088,169 $ 1,342,452 $ 1,643,068 $ Estimated Tax 227,949 288,081 359,096 443,009 542,213 Net Income 462,805 $ 584,891 $ 729,073 $ 899,443 $ 1,100,856 $ Bent Cycling Depreciation of Assets 4/6/2010 Bent Cycling Prepared: 04/06/2010 Depreciation of Assets Initial Asset Value $1,200,000 Salvage Value $400,000 Life of Asset (Years) 15 1 2 3 4 5 Straight-Line (SLN) $53,333 $53,333 $53,333 $53,333 $53,333 Cumulative Depreciation $53,333 $106,667 $160,000 $213,333 $266,667 Depreciation $1,146,667 $1,093,333 $1,040,000 $986,667 $933,333 Declining Balance (DB) $85,200 $79,151 $73,531 $68,310 $63,460 Cumulative Depreciation $85,200 $164,351 $237,882 $306,192 $369,653 Depreciation $1,114,800 $1,035,649 $962,118 $893,808 $830,347 Year...
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Income Projection - $ 1,154,554 $ 1,385,418 $ 1,660,311 $...

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