Sample Financial Statement

GDS MANUFACTURING CORP.
UNDERLYING ASSUMPTIONS
1. Quantity sold is estimated to increase by 20% over the previous year.

2. Unit selling price is projected to increase by 10% over the previous year.
3. Employees' benefits are estimated at 20% of salaries and wages
4. Inventory at the end of the period is immaterial, hence, not recognized
5. Administrative as well as marketing and selling expenses ae projected o increase by 10% over the previous year.
6. Accounts receivable is estimated at 50% of sales for the quarter and collected in the suceeding quarter.
7. Debt to equity ratio is 40:60. Hence, short-term loan is obtained at about 40% of the capital requirement.
8. Interest rate is estimated at 12% per annum.
9. Income tax is computed at 35% of taxbale income.
10. Idle funds seemed to remain in the company's custody although in the actual, these are placed in
income yielding investments.

INITIAL CAPITAL REQUIREMENT
Property and Equipment

Leasehold improvement
Computer equipment
Service vehicle
Tables and chairs
Steel cabinet
Initial Working Capital
200,000
60,000
200,000
50,000
20,000
1,135,805
TOTAL
1,665,805
say
1,700,000
LOAN (40%)
EQUITY (60%)
680,000
say
700,000
1,020,000.0 say
1,000,000
1,700,000

MANPOWER COMPLEMENT
POSITION
Administrative
1 General Manager
2 Accountant
3 Cashier
4 Janitor/Messenger
BASIC
20,000
12,000
10,000
8,000
NO. OF
STAFF
1
1
1
1
MONTHLY
SALARY
20,000
12,000
10,000
8,000
TOTAL
Selling and Marketing
1 Marketing Supervisor
2 Marketing Staff
TOTAL
12,000
10,000
1
2
12,000
20,000
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
YEAR 2
YEAR 3
YEAR 4
YEAR 5
60,000
36,000
30,000
24,000
60,000
36,000
30,000
24,000
60,000
36,000
30,000
24,000
60,000
36,000
30,000
24,000
240,000
144,000
120,000
96,000
264,000
158,400
132,000
105,600
290,400
174,240
145,200
116,160
319,440
191,664
159,720
127,776
351,384
210,830
175,692
140,554
150,000
150,000
150,000
150,000
600,000
660,000
726,000
798,600
878,460
36,000
60,000
36,000
60,000
36,000
60,000
36,000
60,000
144,000
240,000
158,400
264,000
174,240
290,400
191,664
319,440
210,830
351,384
96,000
96,000
96,000
96,000
384,000
422,400
464,640
511,104
562,214

PRICE ANALYSIS
Direct Materials
Direct Labor
Factory Overhead
Supplies
Indirect labor
Light and water
Others
30.00
10.00
Total
50.00
Markup (100%)
50.00
SELLING PRICE PER UNIT
2.00
3.00
3.00
2.00
100.00

LAPSING SCHEDULE
PARTICULARS
1
2
3
4
5
Computer equipment
Service vehicle
Tables and chairs
Steel cabinet
TOTAL
NO. OF
UNIT
lot
3
1
10
2
UNIT
COST
200,000
20,000
200,000
5,000
10,000
TOTAL
AMOUNT
USEFUL
LIFE
200,000
60,000
200,000
50,000
20,000
10
5
5
5
5
530,000
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
YEAR 2
YEAR 3
YEAR 4
YEAR 5
5,000
3,000
10,000
2,500
1,000
5,000
3,000
10,000
2,500
1,000
5,000
3,000
10,000
2,500
1,000
5,000
3,000
10,000
2,500
1,000
20,000
12,000
40,000
10,000
4,000
20,000
12,000
40,000
10,000
4,000
20,000
12,000
40,000
10,000
4,000
20,000
12,000
40,000
10,000
4,000
20,000
12,000
40,000
10,000
4,000
21,500
21,500
21,500
21,500
86,000
86,000
86,000
86,000
86,000

SCHEDULE OF COST OF SALES
YEAR 1
QTY
50,000
U. COST
50.00
YEAR 2
60,000
55.00
YEAR 3
72,000
60.50
YEAR 4
86,400
66.55
YEAR 5
103,680
73.21
TOTAL
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
625,000
625,000
625,000
625,000
2,500,000
YEAR 2
YEAR 3
YEAR 4
YEAR 5
3,300,000
4,356,000
5,749,920
7,589,894
625,000
625,000
625,000
625,000
2,500,000
3,300,000
4,356,000
5,749,920
7,589,894

SCHEDULE OF SALES
YEAR 1
QTY
50,000
U. PRICE
100.00
YEAR 2
60,000
110.00
YEAR 3
72,000
121.00
YEAR 4
86,400
133.10
YEAR 5
103,680
146.41
TOTAL
COLLECTIONS
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
1,250,000
1,250,000
1,250,000
1,250,000
5,000,000
YEAR 2
YEAR 3
YEAR 4
YEAR 5
6,600,000
8,712,000
11,499,840
15,179,789
1,250,000
1,250,000
1,250,000
1,250,000
5,000,000
6,600,000
8,712,000
11,499,840
15,179,789
46,991,629
625,000
1,250,000
1,250,000
1,250,000
4,375,000
6,400,000
8,448,000
11,151,360
14,719,795
45,094,155

SCHEDULE OF SELLING AND MARKETING EXPENSES
TOTAL
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
YEAR 2
YEAR 3
YEAR 4
Salaries and wages

Employees' benefits
Transportation
Representation
Miscellaneous
2,344,358
468,872
146,522
244,204
73,261
96,000
19,200
6,000
10,000
3,000
96,000
19,200
6,000
10,000
3,000
96,000
19,200
6,000
10,000
3,000
96,000
19,200
6,000
10,000
3,000
384,000
76,800
24,000
40,000
12,000
422,400
84,480
26,400
44,000
13,200
464,640
92,928
29,040
48,400
14,520
511,104
102,221
31,944
53,240
15,972
TOTAL
3,277,218
134,200
134,200
134,200
134,200
536,800
590,480
649,528
714,481
YEAR 5
562,214
112,443
35,138
58,564
17,569
785,929

SCHEDULE OF ADMINISTRATIVE EXPENSES
TOTAL
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Salaries and wages

Employees' benefits
Rent expense
Light and water
Supplies expense
Communication
Taxes and licenses
Transportation
Fuel and oil
Repairs and maintenance
Representation
Insurance
Depreciation
Miscellaneous
3,663,060
732,612
1,465,224
732,612
366,306
439,567
146,522
146,522
732,612
73,261
122,102
73,261
430,000
73,261
150,000
30,000
60,000
30,000
15,000
18,000
6,000
6,000
9,000
3,000
5,000
3,000
21,500
3,000
150,000
30,000
60,000
30,000
15,000
18,000
6,000
6,000
9,000
3,000
5,000
3,000
21,500
3,000
150,000
30,000
60,000
30,000
15,000
18,000
6,000
6,000
9,000
3,000
5,000
3,000
21,500
3,000
150,000
30,000
60,000
30,000
15,000
18,000
6,000
6,000
9,000
3,000
5,000
3,000
21,500
3,000
600,000
120,000
240,000
120,000
60,000
72,000
24,000
24,000
120,000
12,000
20,000
12,000
86,000
12,000
660,000
132,000
264,000
132,000
66,000
79,200
26,400
26,400
132,000
13,200
22,000
13,200
86,000
13,200
726,000
145,200
290,400
145,200
72,600
87,120
29,040
29,040
145,200
14,520
24,200
14,520
86,000
14,520
798,600
159,720
319,440
159,720
79,860
95,832
31,944
31,944
159,720
15,972
26,620
15,972
86,000
15,972
878,460
175,692
351,384
175,692
87,846
105,415
35,138
35,138
175,692
17,569
29,282
17,569
86,000
17,569
TOTAL
9,196,924
359,500
359,500
359,500
359,500
1,522,000
1,665,600
1,823,560
1,997,316
2,188,448

PROJECTED COMMON-SIZED INCOME STATEMENT
TOTAL
SALES
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
YEAR 2
YEAR 3
YEAR 4
YEAR 5
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
COST OF SALES
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
GROSS PROFIT
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
OPERATING EXPENSES
Selling and marketing expenses
Administrative expenses
Interest expense
6.97%
19.39%
0.18%
10.74%
28.76%
1.68%
10.74%
28.76%
1.68%
10.74%
28.76%
1.68%
10.74%
28.76%
1.68%
10.74%
28.76%
1.68%
8.95%
25.24%
0.00%
7.46%
20.93%
0.00%
6.21%
17.37%
0.00%
5.18%
14.42%
0.00%
26.55%
41.18%
41.18%
41.18%
41.18%
41.18%
34.18%
28.39%
23.58%
19.59%
23.45%
8.82%
8.82%
8.82%
8.82%
8.82%
15.82%
21.61%
26.42%
30.41%
8.21%
3.09%
3.09%
3.09%
3.09%
3.09%
5.54%
7.56%
9.25%
10.64%
15.25%
5.74%
5.74%
5.74%
5.74%
5.74%
10.28%
14.05%
17.17%
19.76%
Total
INCOME BEFORE TAX
PROVISION FOR INCOME TAX (35%)
NET INCOME

PROJECTED COMMON-SIZED BALANCE SHEET
YEAR 1
Q1
ASSSETS
Current Assets
Cash
Accounts receivable
Total Current Assets
Service vehicle
Computer equipment
Furniture and equipment
Total
Accumulated depreciation
Net Book Value
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Loans payable
Stockholders' Equity
Capital stock
Retained Earnings
Total Stockholders' Equity
TOTAL LIABILITIES & STOCKHOLDERS'
EQUITY
Q2
Q3
Q4
YEAR 2
YEAR 3
YEAR 4
YEAR 5
36.02%
35.28%
71.30%
39.68%
33.90%
73.58%
43.06%
32.64%
75.69%
46.19%
31.46%
77.65%
39.81%
41.98%
81.78%
57.32%
34.15%
91.47%
68.56%
27.84%
96.40%
75.53%
23.24%
98.78%
11.29%
11.29%
3.39%
3.95%
29.91%
1.21%
28.70%
10.85%
10.85%
3.25%
3.80%
28.75%
2.33%
26.42%
10.44%
10.44%
3.13%
3.66%
27.68%
3.37%
24.31%
10.07%
10.07%
3.02%
3.52%
26.68%
4.33%
22.35%
10.18%
10.18%
3.05%
3.56%
26.97%
8.75%
18.22%
6.27%
6.27%
1.88%
2.19%
16.62%
8.09%
8.53%
3.87%
3.87%
1.16%
1.36%
10.26%
6.66%
3.60%
2.45%
2.45%
0.73%
0.86%
6.49%
5.27%
1.22%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
39.51%
37.97%
36.55%
35.23%
0.00%
0.00%
0.00%
0.00%
56.44%
4.05%
60.49%
54.25%
7.78%
62.03%
52.22%
11.23%
63.45%
50.33%
14.43%
64.77%
50.88%
49.12%
100.00%
31.36%
68.64%
100.00%
19.36%
80.64%
100.00%
12.25%
87.75%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
NET PRESENT VALUE

NET INCOME PV FACTOR
AT 12%
YEAR 1
YEAR 2
YEAR 3
YEAR 4
YEAR 5
286,780
678,548
1,223,893
1,974,780
3,000,087
0.893
0.797
0.712
0.636
0.567
PRESENT
VALUE
256,095
540,803
871,412
1,255,960
1,701,049
TOTAL
4,625,318
INVESTMENT
1,700,000
NET PRESENT VALUE
2,925,318
DISCOUNTED
CUMULATIVE PAYBACK
VALUE
PERIOD
256,095
796,897
1,668,309
2,924,269
4,625,318
1
1
0.95
2.95

PROJECTED CASH FLOW STATEMENT
TOTAL
CASH BALANCE, BEGINNING

CASH RECEIPTS:
Collection of receivables
Initial/Additional investment
Loan proceeds
Q1
Q2
YEAR 1
Q3
Q4
638,195
731,390
824,585
TOTAL
YEAR 2
YEAR 3
YEAR 4
YEAR 5
917,780
782,328
1,828,221
3,540,521
45,094,155
1,000,000
700,000
625,000
1,000,000
700,000
1,250,000
1,250,000
1,250,000
4,375,000
1,000,000
700,000
6,400,000
8,448,000
11,151,360
14,719,795
46,794,155
2,325,000
1,250,000
1,250,000
1,250,000
6,075,000
6,400,000
8,448,000
11,151,360
14,719,795
TOTAL CASH AVAILABLE
46,794,155
2,325,000
1,888,195
1,981,390
2,074,585
6,075,000
7,317,780
9,230,328
12,979,581
18,260,316
CASH DISBURSEMENTS:
Acquisition of property and equipment
Cost of sales
Marketing expenses
Income tax
530,000
23,495,814
3,277,218
8,682,924
3,857,586
530,000
625,000
134,200
338,000
38,605
625,000
134,200
338,000
38,605
625,000
134,200
338,000
38,605
625,000
134,200
338,000
38,605
530,000
2,500,000
536,800
1,352,000
154,420
3,300,000
590,480
1,579,600
365,372
4,356,000
649,528
1,737,560
659,019
5,749,920
714,481
1,911,316
1,063,343
7,589,894
785,929
2,102,448
1,615,431
39,843,541
1,665,805
1,135,805
1,135,805
1,135,805
5,073,220
5,835,452
7,402,107
9,439,060
12,093,702
6,950,614
659,195
752,390
845,585
938,780
1,001,780
1,482,328
1,828,221
3,540,521
6,166,614
700,000
84,000
21,000
21,000
21,000
21,000
84,000
700,000
-
784,000
21,000
21,000
21,000
21,000
84,000
700,000
6,166,614
638,195
731,390
824,585
917,780
917,780
782,328
700,000
700,000
700,000
700,000
700,000
Total
Total
BALANCE BEFORE LOAN SERVICING
LOAN SERVICING
Principal
Interest
Total
CASH BALANCE, ENDING
LOAN BALANCE
1,828,221
3,540,521
6,166,614

PROJECTED BALANCE SHEET
YEAR 1
Q1
ASSSETS
Current Assets
Cash
Accounts receivable
Total Current Assets
Service vehicle
Computer equipment
Furniture and equipment
Total
Accumulated depreciation
Net Book Value
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Loans payable
Stockholders' Equity
Capital stock
Retained Earnings
Total Stockholders' Equity
TOTAL LIABILITIES & STOCKHOLDERS'
EQUITY
Q2
Q3
Q4
YEAR 2
YEAR 3
YEAR 4
YEAR 5
638,195
625,000
1,263,195
731,390
625,000
1,356,390
824,585
625,000
1,449,585
917,780
625,000
1,542,780
782,328
825,000
1,607,328
1,828,221
1,089,000
2,917,221
3,540,521
1,437,480
4,978,001
6,166,614
1,897,474
8,064,088
200,000
200,000
60,000
70,000
530,000
21,500
508,500
200,000
200,000
60,000
70,000
530,000
43,000
487,000
200,000
200,000
60,000
70,000
530,000
64,500
465,500
200,000
200,000
60,000
70,000
530,000
86,000
444,000
200,000
200,000
60,000
70,000
530,000
172,000
358,000
200,000
200,000
60,000
70,000
530,000
258,000
272,000
200,000
200,000
60,000
70,000
530,000
344,000
186,000
200,000
200,000
60,000
70,000
530,000
430,000
100,000
1,771,695
1,843,390
1,915,085
1,986,780
1,965,328
3,189,221
5,164,001
8,164,088
700,000
700,000
700,000
700,000
1,000,000
71,695
1,071,695
1,000,000
143,390
1,143,390
1,000,000
215,085
1,215,085
1,000,000
286,780
1,286,780
1,000,000
965,328
1,965,328
1,000,000
2,189,221
3,189,221
1,000,000
4,164,001
5,164,001
1,000,000
7,164,088
8,164,088
1,771,695
1,843,390
1,915,085
1,986,780
1,965,328
3,189,221
5,164,001
8,164,088

PROJECTED INCOME STATEMENT
TOTAL
Q1
Q2
YEAR 1
Q3
Q4
TOTAL
YEAR 2
YEAR 3
YEAR 4
SALES
46,991,629
1,250,000
1,250,000
1,250,000
1,250,000
5,000,000
6,600,000
8,712,000
11,499,840
COST OF SALES
23,495,814
625,000
625,000
625,000
625,000
2,500,000
3,300,000
4,356,000
5,749,920
GROSS PROFIT
23,495,814
625,000
625,000
625,000
625,000
2,500,000
3,300,000
4,356,000
5,749,920
3,277,218
9,112,924
84,000
134,200
359,500
21,000
134,200
359,500
21,000
134,200
359,500
21,000
134,200
359,500
21,000
536,800
1,438,000
84,000
590,480
1,665,600
-
649,528
1,823,560
-
714,481
1,997,316
-
12,474,141
514,700
514,700
514,700
514,700
2,058,800
2,256,080
2,473,088
2,711,797
11,021,673
110,300
110,300
110,300
110,300
441,200
1,043,920
1,882,912
3,038,123
3,857,586
38,605
38,605
38,605
38,605
154,420
365,372
659,019
1,063,343
286,780
678,548
1,223,893
1,974,780
OPERATING EXPENSES
Selling and marketing expenses
Interest expense
Total
INCOME BEFORE TAX
PROVISION FOR INCOME TAX (35%)
`
NET INCOME
7,164,088
71,695
71,695
71,695
71,695
YEAR 5
15,179,789
7,589,894
7,589,894
785,929
2,188,448
2,974,376
4,615,518
1,615,431
3,000,087

Sample Financial Statement

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Sample Financial Statement

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GDS MANUFACTURING CORP.

1. Quantity sold is estimated to increase by 20% over the previous year.

GDS MANUFACTURING CORP.

Property and Equipment

GDS MANUFACTURING CORP.

GDS MANUFACTURING CORP.

SELLING PRICE PER UNIT

GDS MANUFACTURING CORP.

GDS MANUFACTURING CORP.

GDS MANUFACTURING CORP.

GDS MANUFACTURING CORP.

Salaries and wages

GDS MANUFACTURING CORP.

Salaries and wages

GDS MANUFACTURING CORP.

GDS MANUFACTURING CORP.

NET PRESENT VALUE

NET PRESENT VALUE

GDS MANUFACTURING CORP.

CASH BALANCE, BEGINNING

TOTAL CASH AVAILABLE

GDS MANUFACTURING CORP.

GDS MANUFACTURING CORP.

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