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Table of Contents
Table of Contents
Page 2
Botanical Bounty
Page 1
Botanical Bounty
forecasts conservatively indicate that $190,000 revenue will be generated in year two, rising to
$216,000 the following year.
1.1 Objectives
The Botanical Bounty has identified several objectives for the business:
1. Become a leading supplier of botanical perennials for the health/vitamin industry.
2. Reach the point of sustainable profitability.
3. Enjoy work while making a good living.
1.2 Mission
It is Botanical Bounty's mission to become the leading provider of botanical perennials to the
health/vitamin industry. This will be accomplished by providing quality plants at fair prices while
exceeding customer's expectations.
1.3 Keys to Success
Botanical Bounty will adhere to three keys that will be instrumental in its success:
1. Strict financial controls.
2. The never ending pursuit of the highest concentration of botanicals in every plant.
3. Ensuring that all customer's needs are met and they are satisfied with the purchased
products.
Chart: Highlights
Page 2
Botanical Bounty
Page 3
Botanical Bounty
Past Performance
2000
2001
2002
$0
$0
0.00%
$0
0
$45,000
$36,000
80.00%
$75,000
0
$46,500
$36,590
78.69%
$74,000
0
2000
2001
2002
$0
$0
$0
$0
$50,000
$9,000
$3,000
$62,000
$35,000
$8,000
$4,000
$47,000
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
$0
$0
$0
$35,000
$7,000
$28,000
$35,000
$7,000
$28,000
Total Assets
$0
$90,000
$75,000
Accounts Payable
Current Borrowing
Other Current Liabilities (interest free)
Total Current Liabilities
$0
$0
$0
$0
$12,000
$0
$0
$12,000
$13,090
$0
$0
$13,090
Long-term Liabilities
Total Liabilities
$0
$0
$0
$12,000
$0
$13,090
Paid-in Capital
Retained Earnings
Earnings
Total Capital
$0
$0
$0
$0
$0
$78,000
$0
$78,000
$0
$61,910
$0
$61,910
$0
$90,000
$75,000
0
$0
0.00
0
$0
0.00
0
$0
0.00
Sales
Gross Margin
Gross Margin %
Operating Expenses
Collection Period (days)
Balance Sheet
Current Assets
Cash
Accounts Receivable
Other Current Assets
Total Current Assets
Long-term Assets
Current Liabilities
Other Inputs
Payment Days
Sales on Credit
Receivables Turnover
Page 4
Botanical Bounty
3.0 Products
Botanical Bounty offers a range of botanical perennials (plants where the root structure
remains, allowing the plant to regrow every year). Botanical perennials were chosen for two
main reasons. The first is the medicinal value that they offer, therefore the plants have a
positive contribution to society by improving people's health. The second reason is that the
market for medicinal herbs is a very strong industry with excellent growth, ensuring demand for
their plants. Botanical Bounty will offer the following excellent:
Echinacea
Echinacea was used extensively by Native Americans and the early settlers also adopted its use.
It has been used for years in alternative medicine to support the immune system, and to purify
the blood, especially during season changes and during the cold and flu season. Scientific
studies have confirmed the presence of natural chemicals, echinacosides, which increase white
blood cell activity.
Ginseng
Ginseng stimulates and increases endocrine activity in the body. Promotes a mild increase in
metabolic activity and relaxes heart and artery movements. Stimulates the medulla centers and
relaxes the central nervous system.
St. John's Wort
St. John's Wort has been used as a medicinal for thousands of years, but has only recently been
studied for its medicinal value. Now proven to have many highly active compounds including
rutin, pectin, choline, sitosterol, hypericin and pseudohypericin. The flowers and leaves are
medicinal as analgesic, antiseptic, antispasmodic, aromatic, astringent, cholagogue, digestive,
diuretic, expectorant, nervine, resolvent, stimulant, vermifuge and vulnerary. Some compounds
of the plant have been shown to have potent anti-retroviral activity without serious side effects
and they are being researched in the treatment of AIDS.
Skullcap
Skullcap is a powerful medicinal herb, it is used in alternative medicine as an anti-inflammatory,
abortifacient, antispasmodic, slightly astringent, emmenagogue, febrifuge, nervine, sedative
and strongly tonic. Some valuable constituents found in the plant are scutellarin, catalpol, other
volatile oils, bitter iridoids and tannins. Scientific studies are proving this to be a valuable plant
in many areas for mental disorders. Skullcap is used in the treatment of a wide range of
nervous conditions including epilepsy, insomnia, hysteria, anxiety, delirium tremens, withdrawal
from barbiturates and tranquilizers.
Ginger
Ginger roots and dried herb are medicinal and edible, it has a spicy, hot, crispy, taste and can
be eaten fresh in small quantities in salads, used as a relish, a condiment, or made into a sauce
for meat, especially good on chicken, or used to make ginger candy. Widely used as an
alternative medicine ginger contains the valuable constituent aristolochic acid, scientific study
shows it to have anti-inflammatory, antiviral, antitumor activity, cures warts in some cases and
is a broad-spectrum antibacterial and antifungal.
Botanical Bounty sells these excellent perennials in plant form for the botanicals to be extracted
by their customers. Botanical Bounty concentrates on producing the healthiest plants which
have the highest concentration of active botanicals.
Page 5
Botanical Bounty
Market Analysis
Potential Customers
Growth
Supplement Companies
Processors
Nurseries/Garden Centers
Total
5%
4%
5%
4.58%
2003
2004
2005
2006
2007
21
9
123
153
22
9
129
160
23
9
135
167
24
9
142
175
25
9
149
183
CAGR
4.46%
0.00%
4.91%
4.58%
Page 6
Botanical Bounty
Page 7
Botanical Bounty
The basic reason cited for dietary supplement growth is the desire for self-care. Consumers use
dietary supplement products to help them achieve their self-care goals that arise out of a sense
of alienation from the established health care system. Results from a national survey conducted
in 1999 by Men's Health magazine show that consumers use dietary supplements as a means of
ensuring good health. They also use supplements for very specific medicinal purposes such as
treating and preventing serious illnesses, colds, and the flu; increasing mental sharpness; and
alleviating depression.
The consumer's desire for self-care and the widespread use of dietary supplements may cause
problems for public health. An estimated 22.8 million consumers use herbal remedies instead of
prescription medicine, and an estimated 19.6 million use them with a prescription product.
In the past, except for vitamin and mineral products, dietary supplements, particularly botanical
products, were sold mainly to adults in health food stores. In contrast, now such products are
available in supermarkets, other retail stores, and on the Internet, making these products
readily accessible to children and other vulnerable populations. The Nutrition Business Journal
estimated that in 1999, U.S. consumer sales of supplements over the Internet amounted to
$142 million, almost three times the previous year's total of $48 million.
The five main channels of distribution are: consumer-direct (includes direct mail/catalog, direct
from sales representatives, multi-level marketing, Internet & infomercial/direct from television);
food, drug, mass-market stores, health and natural food stores, healthcare professionals and
practitioners, others.
Channel of Distribution % of $ Sales
Consumer-direct
42%
30%
20%
4%
Other
4%
The 10 largest companies in the botanical and dietary supplement market account for 83% of
the total U.S. annual market.
Company 2001 Sales
General Nutrition Companies
$1.4 billion*
Nu Skin Enterprises
$921.60
Herbalife International
$899.70
Perrigo
$877.60
NBTY
$610.10
Rexall Sundown
$590.20
$335.50
Twinlab
$321.00
Nature's Sunshine
$287.40
Chattem
$272.80
Page 8
Botanical Bounty
Price
Availability
Ability to deliver consistently on long-term contracts
Significant % of active ingredients
Consistency.
Page 9
Botanical Bounty
Page 10
Botanical Bounty
Sales Forecast
2003
2004
2005
$41,385
$35,591
$7,863
$84,839
$93,090
$80,057
$17,687
$190,835
$105,665
$90,872
$20,076
$216,613
2003
$3,104
$2,669
$590
$6,363
2004
$6,982
$6,004
$1,327
$14,313
2005
$7,925
$6,815
$1,506
$16,246
Sales
Supplement Companies
Processors
Nurseries
Total Sales
Direct Cost of Sales
Supplement companies
Processors
Nurseries
Subtotal Direct Cost of Sales
Page 11
Botanical Bounty
5.4 Milestones
The value of Botanical Bounty's milestones is in creating a set of measurable activities that will
be achievable goals. The achievement of the milestones will be closely monitored and the
assigned person will be held accountable for hitting the milestones.
Table: Milestones
Milestones
Milestone
Business plan completion
First large contract
$100K in revenue
Profitability
Totals
Start Date
1/1/2003
1/1/2003
1/1/2003
1/1/2003
End Date
2/1/2003
4/30/2003
4/4/2004
7/30/2004
Budget
$0
$0
$0
$0
Manager
David
Sue
Sue
David
Department
Strategic planning
Sales
Sales
Operations
$0
Page 12
Botanical Bounty
Chart: Milestones
Page 13
Botanical Bounty
Page 14
Botanical Bounty
David: Operations including vendor relations, accounting, and some growing responsibility.
Sue: Head grower and sales. As head grower she is responsible for supervising, scheduling
plant production, the cutting schedules, crop selection, growing schedules, fertilizer
selection and application schedules, irrigation system development, and pest control.
Because Sue has the technical knowledge regarding the plants and their industry leading
botanical concentrations, she will be in charge of sales which will include qualifying leads as
well as participating in the final negotiations and account management.
Grower: Sue will have the assistance of a full-time grower in order to allow her to meet her
sales responsibilities.
Laborers: The laborer positions will be seasonal as there is more work required in the
summer months, however, there will always be some laborers on staff throughout the year.
Some of the responsibilities of the laborers are soil tilling, compost distribution, plant
collections and trimming.
Table: Personnel
Personnel Plan
2003
2004
2005
David
Sue
Grower
Laborers
Total People
$18,000
$18,000
$24,000
$27,000
4
$18,000
$18,000
$27,000
$29,000
6
$18,000
$18,000
$29,000
$32,000
6
Total Payroll
$87,000
$92,000
$97,000
General Assumptions
Plan Month
Current Interest Rate
Long-term Interest Rate
Tax Rate
Other
2003
2004
2005
1
10.00%
4.00%
30.00%
0
2
10.00%
4.00%
30.00%
0
3
10.00%
4.00%
30.00%
0
Page 15
Botanical Bounty
Page 16
Botanical Bounty
Break-even Analysis
Monthly Revenue Break-even
$13,770
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
8%
$12,737
Page 17
Botanical Bounty
2004
2005
Sales
Direct Cost of Sales
Other Costs of Goods
Total Cost of Sales
$84,839
$6,363
$0
$6,363
$190,835
$14,313
$0
$14,313
$216,613
$16,246
$0
$16,246
Gross Margin
Gross Margin %
$78,476
92.50%
$176,522
92.50%
$200,367
92.50%
$87,000
$10,000
$6,996
$24,000
$7,000
$2,400
$13,050
$2,400
$92,000
$12,000
$6,996
$24,000
$7,000
$2,400
$13,800
$2,400
$97,000
$14,000
$6,996
$24,000
$7,000
$2,400
$14,550
$2,400
$152,846
$160,596
$168,346
($74,370)
($67,374)
$3,908
$0
$15,926
$22,922
$3,640
$3,686
$32,021
$39,017
$3,280
$8,623
Net Profit
Net Profit/Sales
($78,278)
-92.27%
$8,600
4.51%
$20,119
9.29%
Expenses
Payroll
Sales and Marketing and Other Expenses
Depreciation
Mortgage
Utilities
Insurance
Payroll Taxes
Other
Page 18
Botanical Bounty
Page 19
Botanical Bounty
Page 20
Botanical Bounty
2004
2005
$21,210
$58,575
$79,785
$47,709
$126,816
$174,525
$54,153
$158,493
$212,647
$0
$0
$0
$100,000
$0
$0
$0
$179,785
$0
$0
$0
$0
$0
$0
$0
$174,525
$0
$0
$0
$0
$0
$0
$0
$212,647
2003
2004
2005
$87,000
$77,335
$164,335
$92,000
$81,273
$173,273
$97,000
$91,737
$188,737
$0
$0
$0
$5,000
$0
$35,000
$0
$204,335
$0
$0
$0
$8,000
$0
$0
$0
$181,273
$0
$10
$0
$10,000
$0
$0
$0
$198,747
($24,550)
$10,450
($6,748)
$3,702
$13,900
$17,601
Cash Received
Page 21
Botanical Bounty
Chart: Cash
Page 22
Botanical Bounty
2004
2005
$10,450
$13,054
$4,000
$27,504
$3,702
$29,364
$4,000
$37,066
$17,601
$33,330
$4,000
$54,932
$70,000
$13,996
$56,004
$83,508
$70,000
$20,992
$49,008
$86,074
$70,000
$27,988
$42,012
$96,944
2003
2004
2005
$4,876
$0
$0
$4,876
$6,842
$0
$0
$6,842
$7,603
($10)
$0
$7,593
$95,000
$99,876
$87,000
$93,842
$77,000
$84,593
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$0
$61,910
($78,278)
($16,368)
$83,508
$0
($16,368)
$8,600
($7,768)
$86,074
$0
($7,768)
$20,119
$12,351
$96,944
Net Worth
($16,368)
($7,768)
$12,351
Assets
Current Assets
Cash
Accounts Receivable
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Liabilities and Capital
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
Long-term Liabilities
Total Liabilities
Page 23
Botanical Bounty
Table: Ratios
Ratio Analysis
2003
2004
2005
Industry Profile
82.45%
124.94%
13.51%
10.17%
Accounts Receivable
Other Current Assets
Total Current Assets
Long-term Assets
Total Assets
15.63%
4.79%
32.94%
67.06%
100.00%
34.11%
4.65%
43.06%
56.94%
100.00%
34.38%
4.13%
56.66%
43.34%
100.00%
7.31%
27.46%
44.97%
55.03%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
5.84%
113.76%
119.60%
-19.60%
7.95%
101.08%
109.02%
-9.02%
7.83%
79.43%
87.26%
12.74%
24.14%
28.08%
52.22%
47.78%
100.00%
92.50%
191.95%
0.00%
-87.66%
100.00%
92.50%
90.33%
0.00%
8.35%
100.00%
92.50%
85.38%
0.00%
14.78%
100.00%
47.84%
33.12%
0.26%
0.82%
5.64
5.64
119.60%
478.24%
-93.74%
5.42
5.42
109.02%
-158.16%
14.27%
7.23
7.23
87.26%
232.70%
29.65%
1.16
0.55
0.86%
61.86%
2.24%
Sales Growth
Percent of Total Assets
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
Additional Ratios
2003
2004
2005
-92.27%
0.00%
4.51%
0.00%
9.29%
162.89%
n.a
n.a
4.87
59
14.17
32
1.02
4.87
54
12.17
26
2.22
4.87
70
12.17
28
2.23
n.a
n.a
n.a
n.a
n.a
0.00
0.05
0.00
0.07
6.85
0.09
n.a
n.a
$22,628
-19.03
$30,224
4.38
$47,339
9.76
n.a
n.a
0.98
6%
2.96
0.45
8%
1.13
0.45
8%
2.85
n.a
n.a
n.a
Activity Ratios
Accounts Receivable Turnover
Collection Days
Accounts Payable Turnover
Payment Days
Total Asset Turnover
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Page 24
Botanical Bounty
Sales/Net Worth
Dividend Payout
0.00
0.00
0.00
0.00
17.54
0.00
n.a
n.a
Page 25
Appendix
Table: Sales Forecast
Sales Forecast
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
$300
$258
$57
$432
$372
$82
$565
$486
$107
$2,002
$1,722
$380
$3,222
$2,771
$612
$4,323
$3,718
$821
$4,655
$4,003
$884
$5,232
$4,500
$994
$5,989
$5,151
$1,138
$6,000
$5,160
$1,140
$5,232
$4,500
$994
$3,433
$2,952
$652
$615
$886
$1,158
$4,104
$6,605
$8,862
$9,543
$10,726
$12,277
$12,300
$10,726
$7,038
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Supplement companies
$23
$32
$42
$150
$242
$324
$349
$392
$449
$450
$392
$257
Processors
$19
$28
$36
$129
$208
$279
$300
$337
$386
$387
$337
$221
Nurseries
$4
$6
$8
$29
$46
$62
$66
$75
$85
$86
$75
$49
$46
$66
$87
$308
$495
$665
$716
$804
$921
$923
$804
$528
Sales
Supplement Companies
Processors
Nurseries
Total Sales
0%
0%
0%
Page 1
Appendix
Table: Personnel
Personnel Plan
David
Sue
Grower
Laborers
Total People
Total Payroll
0%
0%
0%
0%
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
$1,500
$1,500
$2,000
$1,000
$1,500
$1,500
$2,000
$1,000
$1,500
$1,500
$2,000
$2,000
$1,500
$1,500
$2,000
$2,000
$1,500
$1,500
$2,000
$3,000
$1,500
$1,500
$2,000
$4,000
$1,500
$1,500
$2,000
$4,000
$1,500
$1,500
$2,000
$4,000
$1,500
$1,500
$2,000
$2,000
$1,500
$1,500
$2,000
$2,000
$1,500
$1,500
$2,000
$1,000
$1,500
$1,500
$2,000
$1,000
$6,000
$6,000
$7,000
$7,000
$8,000
$9,000
$9,000
$9,000
$7,000
$7,000
$6,000
$6,000
Page 2
Appendix
Table: General Assumptions
General Assumptions
Jan
Plan Month
Current Interest Rate
Long-term Interest Rate
Tax Rate
Other
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
10
11
12
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
Page 3
Appendix
Table: Profit and Loss
Sales
Direct Cost of Sales
Other Costs of Goods
Total Cost of Sales
Gross Margin
Gross Margin %
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
$615
$886
$1,158
$4,104
$6,605
$8,862
$9,543
$10,726
$12,277
$12,300
$10,726
$7,038
$46
$66
$87
$308
$495
$665
$716
$804
$921
$923
$804
$528
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$46
$66
$87
$308
$495
$665
$716
$804
$921
$923
$804
$528
$569
$819
$1,071
$3,796
$6,110
$8,197
$8,827
$9,921
$11,357
$11,378
$9,921
$6,510
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
92.50%
$6,000
$6,000
$7,000
$7,000
$8,000
$9,000
$9,000
$9,000
$7,000
$7,000
$6,000
$6,000
$400
$3,000
$400
$400
$400
$400
$400
$3,000
$400
$400
$400
$400
Expenses
Payroll
Sales and Marketing and Other
Expenses
Depreciation
Mortgage
Utilities
Insurance
Payroll Taxes
Other
Net Profit
Net Profit/Sales
15%
$583
$583
$583
$583
$583
$583
$583
$583
$583
$583
$583
$583
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$500
$500
$500
$600
$700
$700
$700
$700
$600
$500
$500
$500
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$900
$900
$1,050
$1,050
$1,200
$1,350
$1,350
$1,350
$1,050
$1,050
$900
$900
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$10,783
$13,383
$11,933
$12,033
$13,283
$14,433
$14,433
$17,033
$12,033
$11,933
$10,783
$10,783
($10,214)
($12,564)
($10,862)
($8,237)
($7,173)
($6,236)
($5,606)
($7,112)
($676)
($556)
($862)
($4,273)
($9,631)
($11,981)
($10,279)
($7,654)
($6,590)
($5,653)
($5,023)
($6,529)
($93)
$28
($279)
($3,690)
$333
$333
$332
$330
$328
$327
$325
$323
$322
$320
$318
$317
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
($10,547)
($12,897)
($11,193)
($8,567)
($7,502)
($6,562)
($5,931)
($7,435)
($998)
($876)
($1,180)
($4,590)
-1715.03%
-1456.32%
-966.40%
-208.74%
-113.57%
-74.05%
-62.15%
-69.32%
-8.13%
-7.12%
-11.00%
-65.22%
Page 4
Appendix
Table: Cash Flow
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Cash Received
$154
$221
$290
$1,026
$1,651
$2,216
$2,386
$2,681
$3,069
$3,075
$2,681
$1,759
$4,000
$4,015
$468
$671
$942
$3,141
$5,010
$6,664
$7,187
$8,083
$9,209
$9,186
$4,154
$4,237
$758
$1,697
$2,594
$5,356
$7,396
$9,345
$10,256
$11,158
$11,890
$10,945
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
0.00%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$100,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$104,154
$4,237
$758
$1,697
$2,594
$5,356
$7,396
$9,345
$10,256
$11,158
$11,890
$10,945
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Expenditures
$6,000
$6,000
$7,000
$7,000
$8,000
$9,000
$9,000
$9,000
$7,000
$7,000
$6,000
$6,000
Bill Payments
$13,243
$4,667
$7,119
$4,779
$5,102
$5,534
$5,843
$5,980
$8,482
$5,689
$5,584
$5,313
$19,243
$10,667
$14,119
$11,779
$13,102
$14,534
$14,843
$14,980
$15,482
$12,689
$11,584
$11,313
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$35,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Page 5
Appendix
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$54,243
$10,667
$14,619
$12,279
$13,602
$15,034
$15,343
$15,480
$15,982
$13,189
$12,084
$11,813
$49,911
($6,430)
($13,861)
($10,582)
($11,009)
($9,678)
($7,947)
($6,135)
($5,726)
($2,031)
($193)
($868)
Cash Balance
$84,911
$78,481
$64,620
$54,038
$43,029
$33,351
$25,404
$19,269
$13,543
$11,512
$11,318
$10,450
Page 6
Appendix
Table: Balance Sheet
Assets
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
$35,000
$8,000
$4,000
$47,000
$84,911
$4,461
$4,000
$93,372
$78,481
$1,110
$4,000
$83,591
$64,620
$1,511
$4,000
$70,131
$54,038
$3,918
$4,000
$61,956
$43,029
$7,929
$4,000
$54,958
$33,351
$11,435
$4,000
$48,786
$25,404
$13,582
$4,000
$42,986
$19,269
$14,963
$4,000
$38,231
$13,543
$16,984
$4,000
$34,527
$11,512
$18,126
$4,000
$33,638
$11,318
$16,962
$4,000
$32,280
$10,450
$13,054
$4,000
$27,504
$35,000
$7,000
$28,000
$75,000
$70,000
$7,583
$62,417
$155,789
$70,000
$8,166
$61,834
$145,425
$70,000
$8,749
$61,251
$131,382
$70,000
$9,332
$60,668
$122,624
$70,000
$9,915
$60,085
$115,043
$70,000
$10,498
$59,502
$108,288
$70,000
$11,081
$58,919
$101,905
$70,000
$11,664
$58,336
$96,567
$70,000
$12,247
$57,753
$92,280
$70,000
$12,830
$57,170
$90,808
$70,000
$13,413
$56,587
$88,867
$70,000
$13,996
$56,004
$83,508
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Starting Balances
Current Assets
Cash
Accounts Receivable
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Liabilities and Capital
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$13,090
$0
$0
$13,090
$4,427
$0
$0
$4,427
$6,960
$0
$0
$6,960
$4,610
$0
$0
$4,610
$4,918
$0
$0
$4,918
$5,340
$0
$0
$5,340
$5,647
$0
$0
$5,647
$5,694
$0
$0
$5,694
$8,292
$0
$0
$8,292
$5,503
$0
$0
$5,503
$5,406
$0
$0
$5,406
$5,145
$0
$0
$5,145
$4,876
$0
$0
$4,876
Long-term Liabilities
Total Liabilities
$0
$13,090
$100,000
$104,427
$100,000
$106,960
$99,500
$104,110
$99,000
$103,918
$98,500
$103,840
$98,000
$103,647
$97,500
$103,194
$97,000
$105,292
$96,500
$102,003
$96,000
$101,406
$95,500
$100,645
$95,000
$99,876
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$0
$61,910
$0
$61,910
$75,000
$0
$61,910
($10,547)
$51,363
$155,789
$0
$61,910
($23,445)
$38,465
$145,425
$0
$61,910
($34,638)
$27,272
$131,382
$0
$61,910
($43,205)
$18,705
$122,624
$0
$61,910
($50,706)
$11,204
$115,043
$0
$61,910
($57,268)
$4,642
$108,288
$0
$61,910
($63,199)
($1,289)
$101,905
$0
$61,910
($70,635)
($8,725)
$96,567
$0
$61,910
($71,633)
($9,723)
$92,280
$0
$61,910
($72,508)
($10,598)
$90,808
$0
$61,910
($73,688)
($11,778)
$88,867
$0
$61,910
($78,278)
($16,368)
$83,508
Net Worth
$61,910
$51,363
$38,465
$27,272
$18,705
$11,204
$4,642
($1,289)
($8,725)
($9,723)
($10,598)
($11,778)
($16,368)
Page 7