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This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary .................................................................................................................................1
1.1 Objectives......................................................................................................................................1
1.2 Mission ..........................................................................................................................................1
1.3 Keys to Success ............................................................................................................................2
2.0 Company Summary .................................................................................................................................2
2.1 Company Ownership .....................................................................................................................3
2.2 Start-up Summary..........................................................................................................................3
3.0 Products..................................................................................................................................................5
4.0 Market Analysis Summary .......................................................................................................................5
4.1 Market Segmentation.....................................................................................................................5
4.2 Target Market Segment Strategy...................................................................................................6
4.3 Industry Analysis............................................................................................................................7
4.3.1 Competition and Buying Patterns ......................................................................................7
5.0 Strategy and Implementation Summary ...................................................................................................7
5.1 SWOT Analysis..............................................................................................................................8
5.1.1 Strengths ..........................................................................................................................8
5.1.2 Weaknesses .....................................................................................................................8
5.1.3 Opportunities ....................................................................................................................8
5.1.4 Threats .............................................................................................................................9
5.2 Competitive Edge ..........................................................................................................................9
5.3 Marketing Strategy ........................................................................................................................9
5.4 Sales Strategy ...............................................................................................................................9
5.4.1 Sales Forecast ................................................................................................................10
5.5 Milestones....................................................................................................................................11
6.0 Management Summary .........................................................................................................................12
6.1 Personnel Plan ............................................................................................................................13
7.0 Financial Plan .......................................................................................................................................13
7.1 Start-up Funding .........................................................................................................................14
7.2 Important Assumptions ................................................................................................................15
7.3 Break-even Analysis ....................................................................................................................16
7.4 Projected Profit and Loss ............................................................................................................16
7.5 Projected Cash Flow....................................................................................................................19
7.6 Projected Balance Sheet .............................................................................................................21
7.7 Business Ratios ...........................................................................................................................22
Page 1
1.1 Objectives
Membuat suatu usaha yang dapat memenuhi kebutuhan dan keinginan pasar
Dengan membuat variasi produk yang menarik dan promosi yang gencar mampu meningkatkan jumlah
costumer sebesar 20% pertahun
Mampu membuat bisnis menjadi lebih besar dan terus berkelanjutan
1.2 Mission
Misi dari perusahaan ini adalah untuk mencoba mengatasi permasalahan banyaknya makanan
yang mengandung zat kimia berbahaya yang banyak dijual dikawasan anak sekolah, dengan
adanya tempat makanan dengan pemanas/penghangat diharapkan mampu menarik minat anak
sekolah untuk membawa bekal guna mencegah anak sekolah jajan sembarangan.
Page 1
Page 2
Nama
: Angga Kurniawan
Tempat/Tanggal lahir : Cirebon / 10 Juli 1994
Agama
: Islam
Alamat Rumah
: Kedung Krisik Slt , RT 03/06, Argasunya, Harjamukti , Kota
Cirebon
5. Pendidikan Terakhir : Diploma III
6. Hobi
: Nonton Anime
Pemilik 2
1.
2.
3.
4.
Nama
: Windi
Tempat/Tanggal lahir : Garut/15 Agustus 1995
Agama
: Islam
Alamat Rumah
: Perum Cempaka Indah blok 7 no.115 RT 04/16, Lebak Jaya,
Karangpawitan, Kota Garut
5. Pendidikan Terakhir : Diploma III
6. Hobi
: Nonton Bola, Mendengarkan Musik.
Page 3
$2,500
$500
$1,500
$5,000
$5,000
$14,500
Start-up Assets
Cash Required
Other Current Assets
Long-term Assets
$50,000
$500
$35,000
Total Assets
$85,500
Total Requirements
$100,000
Page 4
Page 5
2016
2017
2018
2019
Growth
10%
5%
2,000,000
800,000
2,200,000
840,000
2,420,000
900,000
2,950,000
1,000,000
3,300,000
1,250,000
12.91%
2,800,000
3,040,000
3,320,000
3,950,000
4,550,000
CAGR
13.34%
11.80%
0.00%
12.91%
Page 6
Page 7
5.1.1 Strengths
Kelebihan dari produk yang perusahaan kami buat adalah produk ini memiliki bentuk yang
bervariasi, kemudian memiliki kelebihan yang cukup unik dibanding misting lain yaitu dapat
menghangatkan makanan didalamnya kapanpun dan dimanapun pengguna ingin
menghangatkannya.
5.1.2 Weaknesses
Produk kami belum mempunyai nama besar dibandingkan dengan produk yang telah mempunyai
nama besar, seperti : Tupperware.
5.1.3 Opportunities
1. Bertambahnya pengguna misting bagi pelajar atau pun untuk piknik keluarga, menjadi sebuah
peluang bagi perusahaan kami untuk menjual produk kami pada konsumen.
2. Semakin banyak makanan yang kurang sehat ataupun berbahaya bagi kesehatan, mendorong
konsumen untuk beralih membawa bekal sendiri dari rumah.
Page 8
Page 9
FY 2017
FY 2018
Total Sales
$57,000
$32,250
$0
$89,250
$98,500
$43,250
$0
$141,750
$90,000
$58,875
$0
$148,875
FY 2016
$27,900
$18,800
$46,700
FY 2017
$34,200
$25,000
$59,200
FY 2018
$27,675
$22,600
$50,275
Sales
Heating Food Type A
Heating Food Type B
Page 10
5.5 Milestones
Table: Milestones
Milestones
Milestone
Name me
Name me
Name me
Name me
Start Date
1/24/2016
1/24/2016
1/24/2016
1/24/2016
End Date
2/23/2016
2/23/2016
2/23/2016
2/23/2016
Budget
$0
$0
$0
$0
Manager
ABC
ABC
ABC
ABC
Department
Department
Department
Department
Department
Name me
Name me
Name me
Name me
Name me
Name me
Totals
1/24/2016
1/24/2016
1/24/2016
1/24/2016
1/24/2016
1/24/2016
2/23/2016
2/23/2016
2/23/2016
2/23/2016
2/23/2016
2/23/2016
$0
$0
$0
$0
$0
$0
$0
ABC
ABC
ABC
ABC
ABC
ABC
Department
Department
Department
Department
Department
Department
Page 11
Page 12
Table: Personnel
Personnel Plan
FY 2016
$3,150
$4,900
$2,520
$22,500
$4,500
FY 2017
$4,725
$6,000
$3,500
$32,000
$7,500
FY 2018
$5,198
$6,600
$3,850
$34,000
$8,250
Total People
15
15
15
Total Payroll
$37,570
$53,725
$57,898
1 Manager
2 Sales Marketing
1 Designer
10 Produksi
2 Other
Page 13
Page 14
$14,500
$85,500
$100,000
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
$35,500
$50,000
$900
$50,900
Total Assets
$86,400
$0
$50,000
$900
$0
$50,900
Capital
Planned Investment
Windi
Angga
Additional Investment Requirement
Total Planned Investment
$25,000
$25,000
$0
$50,000
($14,500)
$35,500
$86,400
$100,900
Page 15
$14,144
52%
$6,743
Page 16
FY 2016
$89,250
$46,700
$5,855
$52,555
FY 2017
$141,750
$59,200
$1,750
$60,950
FY 2018
$148,875
$50,275
$1,750
$52,025
Gross Margin
Gross Margin %
$36,695
41.12%
$80,800
57.00%
$96,850
65.05%
Expenses
Payroll
$37,570
$53,725
$57,898
$4,050
$2,400
$4,500
$2,000
$500
$5,000
$1,000
$500
$5,500
$20,000
$1,800
$4,500
$5,000
$1,500
$5,350
$2,500
$1,700
$5,800
$6,100
$6,250
$6,350
$80,920
$79,325
$81,248
$6,275
$8,675
$6,975
$7,475
$6,853
$7,353
$5,000
$383
$5,000
$592
$5,000
$0
Other Income
Investor
Pinjaman Bank
$50,000
$12,500
$15,000
$0
$0
$62,500
$15,000
$0
Bayar ke Bank
Other Expense Account Name
Total Other Expense
$12,000
$0
$12,000
$9,500
$0
$9,500
$8,750
$0
$8,750
$50,500
$893
1.00%
$5,500
$1,383
0.98%
($8,750)
$1,853
1.24%
Marketing/Promotion
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
Other
Total Operating Expenses
Profit Before Interest and Taxes
EBITDA
Interest Expense
Taxes Incurred
Other Expense
Page 17
Page 18
Page 19
FY 2017
FY 2018
$89,250
$89,250
$141,750
$141,750
$148,875
$148,875
Cash Received
$62,500
$15,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$151,750
$0
$156,750
$0
$148,875
FY 2016
FY 2017
FY 2018
$37,570
$91,850
$129,420
$53,725
$92,047
$145,772
$57,898
$80,842
$138,740
$12,000
$0
$0
$0
$9,500
$0
$0
$0
$8,750
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$141,420
$0
$155,272
$0
$147,490
$10,330
$61,230
$1,478
$62,708
$1,385
$64,093
Dividends
Subtotal Cash Spent
Net Cash Flow
Cash Balance
Page 20
Page 21
FY 2017
FY 2018
$61,230
$500
$61,730
$62,708
$500
$63,208
$64,093
$500
$64,593
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
$35,000
$2,400
$32,600
$35,000
$2,900
$32,100
$35,000
$3,400
$31,600
Total Assets
$94,330
$95,308
$96,193
FY 2016
FY 2017
FY 2018
Current Liabilities
Accounts Payable
$7,937
$7,532
$6,565
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$0
$0
$7,937
$0
$0
$7,532
$0
$0
$6,565
$50,000
$57,937
$50,000
$57,532
$50,000
$56,565
$50,000
($14,500)
$893
$36,393
$94,330
$50,000
($13,607)
$1,383
$37,775
$95,308
$50,000
($12,225)
$1,853
$39,628
$96,193
$36,393
$37,775
$39,628
Assets
Current Assets
Cash
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Liabilities
Total Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Page 22
FY 2016
0.00%
FY 2017
58.82%
FY 2018
5.03%
Industry Profile
0.00%
0.53%
65.44%
34.56%
100.00%
0.52%
66.32%
33.68%
100.00%
0.52%
67.15%
32.85%
100.00%
100.00%
100.00%
0.00%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
8.41%
53.01%
61.42%
7.90%
52.46%
60.36%
6.82%
51.98%
58.80%
0.00%
0.00%
0.00%
Net Worth
38.58%
39.64%
41.20%
100.00%
100.00%
41.12%
40.11%
100.00%
57.00%
56.03%
100.00%
65.05%
63.81%
100.00%
0.00%
0.00%
4.54%
7.03%
1.41%
4.92%
0.67%
4.60%
0.00%
0.00%
7.78
7.78
8.39
8.39
9.84
9.84
0.00
0.00
61.42%
3.50%
1.35%
60.36%
5.23%
2.07%
58.80%
4.67%
1.93%
0.00%
0.00%
0.00%
FY 2016
1.00%
2.45%
FY 2017
0.98%
3.66%
FY 2018
1.24%
4.67%
n.a
n.a
12.46
27
0.95
12.17
31
1.49
12.17
32
1.55
n.a
n.a
n.a
Debt Ratios
Debt to Net Worth
1.59
1.52
1.43
n.a
0.14
0.13
0.12
n.a
$53,793
1.26
$55,675
1.40
$58,028
1.37
n.a
n.a
1.06
8%
7.78
2.45
0.00
0.67
8%
8.39
3.75
0.00
0.65
7%
9.84
3.76
0.00
n.a
n.a
n.a
n.a
n.a
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
Net Profit Margin
Return on Equity
Activity Ratios
Accounts Payable Turnover
Payment Days
Total Asset Turnover
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Sales/Net Worth
Dividend Payout
Page 23
Appendix
Table: Sales Forecast
Sales Forecast
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
$5,000
$6,000
$7,000
$7,500
$7,500
$8,000
$8,000
$8,000
$3,000
$3,750
$3,750
$3,750
$4,500
$4,500
$4,500
$4,500
$0
$0
$0
$0
$0
$0
$0
$0
$8,000
$9,750
$10,750
$11,250
$12,000
$12,500
$12,500
$12,500
Sales
Total Sales
Direct Cost of Sales
$0
$0
$0
Dec
Jan
Feb
$0
$0
$0
$0
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
$2,250
$2,250
$2,700
$3,150
$3,375
$3,375
$3,600
$3,600
$3,600
$1,600
$1,600
$2,000
$2,000
$2,000
$2,400
$2,400
$2,400
$2,400
$3,850
$3,850
$4,700
$5,150
$5,375
$5,775
$6,000
$6,000
$6,000
Page 1
Appendix
Table: Personnel
Personnel Plan
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
1 Manager
Dec
Jan
Feb
$350
$350
$350
$350
$350
$350
$350
$350
$350
2 Sales Marketing
$500
$500
$500
$500
$500
$600
$600
$600
$600
1 Designer
$280
$280
$280
$280
$280
$280
$280
$280
$280
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$2,500
$500
$500
$500
$500
$500
$500
$500
$500
$500
15
15
15
15
15
15
15
15
15
$4,130
$4,130
$4,130
$4,130
$4,130
$4,230
$4,230
$4,230
$4,230
10 Produksi
2 Other
Total People
Total Payroll
$0
$0
$0
Page 2
Appendix
Table: Profit and Loss
Pro Forma Profit and Loss
Sales
Direct Cost of Sales
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
$0
$0
$0
$0
$8,000
$9,750
$10,750
$11,250
$12,000
$12,500
$12,500
$12,500
$6,000
$0
$0
$0
$3,850
$3,850
$4,700
$5,150
$5,375
$5,775
$6,000
$6,000
$395
$385
$419
$435
$439
$477
$493
$520
$546
$583
$582
$583
$395
$385
$419
$4,285
$4,289
$5,177
$5,643
$5,895
$6,321
$6,583
$6,582
$6,583
Gross Margin
($395)
($385)
($419)
($4,285)
$3,711
$4,573
$5,107
$5,355
$5,679
$5,917
$5,918
$5,918
Gross Margin %
0.00%
0.00%
0.00%
0.00%
46.39%
46.91%
47.51%
47.60%
47.33%
47.33%
47.35%
47.34%
Expenses
Payroll
Marketing/Promotion
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
$0
$0
$4,130
$4,130
$4,130
$4,130
$4,130
$4,230
$4,230
$4,230
$4,230
$400
$400
$350
$350
$350
$300
$300
$300
$300
$300
$300
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$4,500
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$20,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$200
$200
$200
$200
$200
$200
$200
$200
$200
$0
$0
$0
$500
$500
$500
$500
$500
$500
$500
$500
$500
$200
$200
$400
$500
$500
$550
$550
$600
$600
$650
$650
$700
$25,300
$800
$1,000
$5,880
$5,880
$5,930
$5,880
$5,930
$6,030
$6,080
$6,080
$6,130
($1,695)
$7,815
$2,581
($6,165)
$831
($1,857)
($1,273)
$3,425
$3,649
$1,337
($1,162)
($1,213)
EBITDA
($1,495)
$8,015
$2,781
($5,965)
$1,031
($1,657)
($1,073)
$3,625
$3,849
$1,537
($962)
($1,013)
$417
$417
$417
$417
$417
$417
$417
$417
$417
$417
$417
$417
($633)
$2,220
$649
($1,974)
$124
($682)
($507)
$903
$970
$276
($474)
($489)
$25,000
$10,000
$5,000
$5,000
$4,000
$500
$500
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$5,000
$5,000
$2,500
$0
$0
$25,000
$10,000
$5,000
$5,000
$4,000
$500
$500
$5,000
$5,000
$2,500
$0
$0
Bayar ke Bank
Other Expense Account Name
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$0
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$24,000
($1,478)
$9,000
$5,179
$4,000
$1,515
$4,000
($4,607)
$3,000
$290
($500)
($1,591)
($500)
($1,183)
$4,000
$2,106
$4,000
$2,263
$1,500
$644
($1,000)
($1,105)
($1,000)
($1,140)
Other
Interest Expense
Taxes Incurred
Other Income
Investor
Pinjaman Bank
Total Other Income
15%
$0
$400
Other Expense
Page 3
Appendix
Net Profit/Sales
0.00%
0.00%
0.00%
0.00%
3.63%
-16.32%
-11.00%
18.72%
18.86%
5.15%
-8.84%
-9.12%
Page 4
Appendix
Table: Cash Flow
Pro Forma Cash Flow
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Cash Sales
$0
$0
$0
$0
$8,000
$9,750
$10,750
$11,250
$12,000
$12,500
$12,500
$12,500
$0
$0
$0
$0
$8,000
$9,750
$10,750
$11,250
$12,000
$12,500
$12,500
$12,500
$25,000
$10,000
$5,000
$5,000
$4,000
$500
$500
$5,000
$5,000
$2,500
$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
$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
$25,000
$10,000
$5,000
$5,000
$12,000
$10,250
$11,250
$16,250
$17,000
$15,000
$12,500
$12,500
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Cash Spending
Bill Payments
$0
$1,743
$0
$24,556
$0
$3,577
$4,130
$2,351
$4,130
$4,347
$4,130
$6,384
$4,130
$6,531
$4,130
$7,160
$4,230
$8,831
$4,230
$9,294
$4,230
$8,901
$4,230
$8,176
$1,743
$24,556
$3,577
$6,481
$8,477
$10,514
$10,661
$11,290
$13,061
$13,524
$13,131
$12,406
Cash Received
Cash from Operations
0.00%
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$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
$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
$2,743
$0
$25,556
$0
$4,577
$0
$7,481
$0
$9,477
$0
$11,514
$0
$11,661
$0
$12,290
$0
$14,061
$0
$14,524
$0
$14,131
$0
$13,406
$22,257
($15,556)
$423
($2,481)
$2,523
($1,264)
($411)
$3,960
$2,939
$476
($1,631)
($906)
Cash Balance
$73,157
$57,601
$58,025
$55,544
$58,067
$56,802
$56,391
$60,352
$63,291
$63,767
$62,136
$61,230
Dividends
Subtotal Cash Spent
Page 5
Appendix
Table: Balance Sheet
Pro Forma Balance Sheet
Assets
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
$61,230
Starting Balances
Current Assets
Cash
$50,900
$73,157
$57,601
$58,025
$55,544
$58,067
$56,802
$56,391
$60,352
$63,291
$63,767
$62,136
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$51,400
$73,657
$58,101
$58,525
$56,044
$58,567
$57,302
$56,891
$60,852
$63,791
$64,267
$62,636
$61,730
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$35,000
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
$2,200
$2,400
$35,000
$34,800
$34,600
$34,400
$34,200
$34,000
$33,800
$33,600
$33,400
$33,200
$33,000
$32,800
$32,600
Total Assets
$86,400
$108,457
$92,701
$92,925
$90,244
$92,567
$91,102
$90,491
$94,252
$96,991
$97,267
$95,436
$94,330
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Long-term Assets
Long-term Assets
Accumulated Depreciation
$900
$24,435
$3,500
$2,209
$4,134
$6,167
$6,294
$6,866
$8,520
$8,997
$8,628
$7,902
$7,937
Current Borrowing
$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
$900
$24,435
$3,500
$2,209
$4,134
$6,167
$6,294
$6,866
$8,520
$8,997
$8,628
$7,902
$7,937
Long-term Liabilities
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
$50,000
Total Liabilities
$50,900
$74,435
$53,500
$52,209
$54,134
$56,167
$56,294
$56,866
$58,520
$58,997
$58,628
$57,902
$57,937
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
$50,000
($14,500)
Earnings
Total Capital
$0
$35,500
($1,478)
$34,022
$3,701
$39,201
$5,216
$40,716
$609
$36,109
$899
$36,399
($692)
$34,808
($1,875)
$33,625
$231
$35,731
$2,494
$37,994
$3,138
$38,638
$2,033
$37,533
$893
$36,393
$86,400
$108,457
$92,701
$92,925
$90,244
$92,567
$91,102
$90,491
$94,252
$96,991
$97,267
$95,436
$94,330
Net Worth
$35,500
$34,022
$39,201
$40,716
$36,109
$36,399
$34,808
$33,625
$35,731
$37,994
$38,638
$37,533
$36,393
Paid-in Capital
Retained Earnings
Page 6