APPENDIX
| Personnel Plan | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Managers | 0% | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 |
| Pastry Bakers | 0% | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 | $3,400 |
| Baristas | 0% | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total People | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |
| Total Payroll | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | |
| General Assumptions | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
| Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
| Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
| Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
| Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Pro Forma Profit and Loss | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Sales | $17,000 | $25,500 | $36,000 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | |
| Direct Cost of Sales | $2,250 | $3,375 | $5,500 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $2,250 | $3,375 | $5,500 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | $7,292 | |
| Gross Margin | $14,750 | $22,125 | $30,500 | $38,542 | $38,542 | $38,542 | $38,542 | $38,542 | $38,542 | $38,542 | $38,542 | $38,542 | |
| Gross Margin % | 86.76% | 86.76% | 84.72% | 84.09% | 84.09% | 84.09% | 84.09% | 84.09% | 84.09% | 84.09% | 84.09% | 84.09% | |
| Expenses | |||||||||||||
| Payroll | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | |
| Sales and Marketing and Other Expenses | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | |
| Depreciation | 15% | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
| Utilities | 5% | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 |
| Payroll Taxes | 15% | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 | $3,260 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | $32,343 | |
| Profit Before Interest and Taxes | ($17,593) | ($10,218) | ($1,843) | $6,198 | $6,198 | $6,198 | $6,198 | $6,198 | $6,198 | $6,198 | $6,198 | $6,198 | |
| EBITDA | ($12,593) | ($5,218) | $3,157 | $11,198 | $11,198 | $11,198 | $11,198 | $11,198 | $11,198 | $11,198 | $11,198 | $11,198 | |
| Interest Expense | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | $833 | |
| Taxes Incurred | ($5,528) | ($2,763) | ($669) | $1,341 | $1,341 | $1,341 | $1,341 | $1,341 | $1,341 | $1,341 | $1,341 | $1,341 | |
| Net Profit | ($12,899) | ($8,289) | ($2,007) | $4,024 | $4,024 | $4,024 | $4,024 | $4,024 | $4,024 | $4,024 | $4,024 | $4,024 | |
| Net Profit/Sales | -75.87% | -32.50% | -5.58% | 8.78% | 8.78% | 8.78% | 8.78% | 8.78% | 8.78% | 8.78% | 8.78% | 8.78% | |
| Pro Forma Cash Flow | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Cash Received | |||||||||||||
| Cash from Operations | |||||||||||||
| Cash Sales | $17,000 | $25,500 | $36,000 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | |
| Subtotal Cash from Operations | $17,000 | $25,500 | $36,000 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | |
| Additional Cash Received | |||||||||||||
| Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $17,000 | $25,500 | $36,000 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | $45,833 | |
| Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Expenditures from Operations | |||||||||||||
| Cash Spending | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | $21,733 | |
| Bill Payments | $1,106 | $3,295 | $7,196 | $11,401 | $15,076 | $15,076 | $15,076 | $15,076 | $15,076 | $15,076 | $15,076 | $15,076 | |
| Subtotal Spent on Operations | $22,839 | $25,028 | $28,929 | $33,134 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | |
| Additional Cash Spent | |||||||||||||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $22,839 | $25,028 | $28,929 | $33,134 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | $36,810 | |
| Net Cash Flow | ($5,839) | $472 | $7,071 | $12,699 | $9,024 | $9,024 | $9,024 | $9,024 | $9,024 | $9,024 | $9,024 | $9,024 | |
| Cash Balance | $64,161 | $64,633 | $71,703 | $84,403 | $93,426 | $102,450 | $111,474 | $120,498 | $129,521 | $138,545 | $147,569 | $156,593 | |
| Pro Forma Balance Sheet | |||||||||||||
| Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
| Assets | Starting Balances | ||||||||||||
| Current Assets | |||||||||||||
| Cash | $70,000 | $64,161 | $64,633 | $71,703 | $84,403 | $93,426 | $102,450 | $111,474 | $120,498 | $129,521 | $138,545 | $147,569 | $156,593 |
| Other Current Assets | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 |
| Total Current Assets | $82,000 | $76,161 | $76,633 | $83,703 | $96,403 | $105,426 | $114,450 | $123,474 | $132,498 | $141,521 | $150,545 | $159,569 | $168,593 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 |
| Accumulated Depreciation | $0 | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 | $30,000 | $35,000 | $40,000 | $45,000 | $50,000 | $55,000 | $60,000 |
| Total Long-term Assets | $65,000 | $60,000 | $55,000 | $50,000 | $45,000 | $40,000 | $35,000 | $30,000 | $25,000 | $20,000 | $15,000 | $10,000 | $5,000 |
| Total Assets | $147,000 | $136,161 | $131,633 | $133,703 | $141,403 | $145,426 | $149,450 | $153,474 | $157,498 | $161,521 | $165,545 | $169,569 | $173,593 |
| Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
| Current Liabilities | |||||||||||||
| Accounts Payable | $1,000 | $3,060 | $6,820 | $10,898 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 |
| Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Subtotal Current Liabilities | $1,000 | $3,060 | $6,820 | $10,898 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 | $14,574 |
| Long-term Liabilities | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 |
| Total Liabilities | $101,000 | $103,060 | $106,820 | $110,898 | $114,574 | $114,574 | $114,574 | $114,574 | $114,574 | $114,574 | $114,574 | $114,574 | $114,574 |
| Paid-in Capital | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 | $110,000 |
| Retained Earnings | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) | ($64,000) |
| Earnings | $0 | ($12,899) | ($21,187) | ($23,195) | ($19,171) | ($15,147) | ($11,124) | ($7,100) | ($3,076) | $948 | $4,971 | $8,995 | $13,019 |
| Total Capital | $46,000 | $33,101 | $24,813 | $22,805 | $26,829 | $30,853 | $34,876 | $38,900 | $42,924 | $46,948 | $50,971 | $54,995 | $59,019 |
| Total Liabilities and Capital | $147,000 | $136,161 | $131,633 | $133,703 | $141,403 | $145,426 | $149,450 | $153,474 | $157,498 | $161,521 | $165,545 | $169,569 | $173,593 |
| Net Worth | $46,000 | $33,101 | $24,813 | $22,805 | $26,829 | $30,853 | $34,876 | $38,900 | $42,924 | $46,948 | $50,971 | $54,995 | $59,019 |
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