Income projection to use for tables

Income projection to use for tables - MONTHLY RATE OF...

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MIS24000 NAME: IN CLASS EXERCISE JANUARY FEBRUARY MARCH APRIL MAY JUNE SALES REVENUE $1,200,000 $1,274,372 $1,353,353 $1,437,228 $1,526,303 $1,620,897 $8,412,153 CONSULTING INCOME $75,000 $76,500 $78,030 $79,591 $81,182 $82,806 $473,109 TOTAL REVENUE $1,275,000 $1,350,872 $1,431,383 $1,516,819 $1,607,485 $1,703,703 $8,885,262 EXPENSES SALARIES $164,000 $172,200 $180,810 $189,851 $199,343 $209,310 $1,115,514 EQUIPMENT $12,000 $11,580 $11,175 $10,784 $10,406 $10,042 $65,986 INSURANCE $17,000 $17,306 $17,618 $17,935 $18,257 $18,586 $106,702 TOTAL EXPENSES $193,000 $201,086 $209,602 $218,569 $228,007 $237,938 $1,288,202 GROSS INCOME $1,082,000 $1,149,786 $1,221,780 $1,298,250 $1,379,478 $1,465,765 $7,597,060 TAXES $43,280 $97,732 $103,851 $110,351 $117,256 $124,590 $597,060 NET INCOME $1,038,720 $1,052,054 $1,117,929 $1,187,899 $1,262,223 $1,341,175 $7,000,000 message ASSUMPTIONS:
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Unformatted text preview: MONTHLY RATE OF INCREASE IN SALES REVENUE 6.20% MONTHLY RATE OF INCREASE IN CONSULTING INCOME 2.00% MONTHLY RATE OF INCREASE IN SALARIES 5.00% MONTHLY RATE OF DECREASE IN COST OF EQUIPMENT 3.50% MONTHLY RATE OF INCREASE IN INSURANCE COSTS 1.80% low tax rate 4.00% high tax rate 8.50% limit on gross income for low tax rate $1,100,000 TAXES SHOULD BE CALCULATED DIFFERENTLY, BASED ON GROSS INCOME. WHEN GROSS INCOME IS LESS THAN 1.1 MILL, USE TAX RATE OF 4%, OTHERWISE USE TAX RATE OF 8.5% IF statement - conditional statement in Excel IF(condition, formula to use when cond is true, formula to use when cond is false) if(gross income<1.1 mill, gross income*4%, gross income*8.5%) TOTALS FOR 6 MONTHS...
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