Income Projections - Copy

Income Projections - Copy - 53,333 53,333 53,333 53,333...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Bent Cycling Author Kory Johnson Date 3/21/2008 Purpose To project Bent Cycling's income statements for the next five fiscal years
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Bent Cycling Projected Five-Year Income Statement 02/27/2012 Bent Cycling Prepared: 11/7/2009 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
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 53,333 53,333 53,333 53,333 Operating Profit $797,867 $960,676 $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 02/27/2012 Bent Cycling Prepared: 11/7/2009 Depreciation of Assets Initial Asset Value $1,200,000 Salvage Value $400,000 Life of Asset (Years) 15 Year 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...
View Full Document

This note was uploaded on 02/27/2012 for the course CIT CIT140 taught by Professor Somsen during the Winter '12 term at BYU - ID.

Page1 / 3

Income Projections - Copy - 53,333 53,333 53,333 53,333...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online