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Unformatted text preview: Income Statement 1. Sales forecasts are based on the analysis presented in the “market analysis” section of this business plan. Sales are projected to increase 7% per year. The first year our sales forecast is $600,000 dollars in sales. 2. Cost of Goods Sold (COGS): 40% 3. We assume that our accounts receivables, which are primarily consisting of customers purchasing dresses and purses, are paid upon receipt. 4. Marketing experiences based on annual marketing budget in marketing plan section of this business plan. Balance Sheet Accumulation of accounts receivable is consistent with industry norms....
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