To Legacy’s investors, friends, and supporters,

It has come to the point in time when Legacy has ended our fiscal period for the 2018-2019 year. As operations
are closing down, it has given us a time to reflect on our growth and experiences from the year together. When
Legacy first met in the fall of 2018, a new business plan was launched. We, at Legacy, determined that by
launching travel based products in the VE market, we would find success. Once a customer purchased a
package of either a 3 or 5 day trip, a custom itinerary was sent to them to select what activities they would like
to do, because at Legacy we are all about the customer’s choice. Our customizable travel packages send
customers to locations around the United States to enjoy all aspects of American culture, from Hawaii to
Alaska, we offer it all. After the first quarter, Legacy adopted new ideas by offering sporting tickets and travel
opportunities. From college football to the cold ice of the NHL, we wanted to help fans get an affordable
experience. After second quarter closed, and third quarter opened, Legacy finally met its goal of expanding
into international destinations. A wide range of warm and cold weather climates all around the globe were
placed on the website. This expansion greatly assisted in increasing Legacy’s sales for the rest of the year.
As Legacy re-entered the VE market at the beginning of the year, we had to consider the competitive
landscape. There were plenty of travel companies from the previous year that stayed constant, but a few
changed, just like us. From the year before, there were around 60 travel firms, with 99@dventures reigning
king of the industry. Our goal was to finish within the top 20% of travel firms on the year, and thanks to all of
Legacy’s hard work, we were named in the Top 50 Firms by VEI in their monthly newsletter. What set us apart
and above the rest was our ability to keep prices low and experience high, a customer based experience paved
the way for our success this year.
Looking to the future, Legacy will likely adjust products next year. With all current staff leaving, new staff will
have to fill in, and despite travel proving a worthy market, we can not predict how the next set of staff will feel.
This year’s company has set up the future well given the financial success, and competitive success at trade
shows and online competitions.
Detailed below are financial highlights, inclusive of our April boom. Due to this boom, we currently have no
liquidity needs. Also below are the business plans projected sales which can be compared to the highlights
described.
-Ethan Smith, CEO

 
 Financial highlights 
 

1
  

2
  
 
 
 
 
 
 
 
 
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 Board of Directors 
Matthew Boone, Director of Finance, Openpath Security
Matthew Chasin, UBS — VE Board of Directors, Vice Chair
Steve Chirico, Mayor of Naperville
Michael Coneys, Chairman & President, The Leo House — VE Board of Directors, Recording
Secretary
Paul Cronin, National Director, KeyBank Business Capital
Joseph Delaney, Director of Northeast Alumni Relations, Deloitte LLP (ret.)
Jeffrey F. DiModica, President, Starwood Property Trust
Amanda Dunham, Legacy Facilitator and Angel Investor
TJ Durkin, Managing Director, Angelo, Gordon & Co.
Richard A. Carranza, Chancellor, New York City Department of Education
Ashley Fina, President, Michael C. Fina & Company — VE Board of Directors, Chair
Morris Fodeman, Partner, Wilson Sonsini Goodrich & Rosati Maureen Gillan-Myer, Executive Vice
President, Head of Human Resources USA, HSBC Bank USA
Mary Haggerty, Managing Director, JPMorgan Chase
Dylan Huang, Senior Managing Director & Head of Retail Annuities, New York Life
Steve Israel, President and CEO, SMI Properties
Sandra Krasnoff, Senior VP, Corp. Secretary and General Counsel, Pall Corporation (ret.)
Kendra Lee, Illinois State Coordinator
Robert McBride, Principal, Neuqua Valley High School
Dean McGee, Assistant Superintendent, Kern High School District
Jay Novik, Principal, Black Diamond Capital Partners
Fukiko Ogisu, Executive Vice President and Chief People Officer, Viacom
John Partilla, CEO, Screenvision Media
Joe Perrone, District Manager, FedEx
Jeffrey Taylor, Co-Founder and Managing Partner, Digital Risk  
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 Corporate Message 
Mission Statement:
At Legacy, we prioritize in providing our customers with the utmost satisfaction through our
exclusive package deals. Our objective is to fly our consumers to a new level of thrills through the
unique perks they gain from purchasing our travel packages. Legacy intends to utilize its employee
workforce to the maximum efficiency, in terms of creativity as well as management, for the sake of its
beloved consumers.

Management has learned that he best way to make a decision is with concrete agreeance from
the majority of all staff, this way it keeps people interested in their work because the majority cares
about it, and they feel included in important steps.

 
Management 

Here at Legacy, we have adopted a linear organizational structure to ensure efficiency in management.
At the top of the company is the Chief Executive Officer (CEO), who serves as the leader of the workforce and
oversees the management of The Chiefs. Under the CEO, lies the chiefs, consisting of the Chief Financial
Officer (CFO), Chief Design Officer (CDO), Chief Administrative Officer (CAO), Chief Project Manager

5
 (CPM), and Chief Marketing Officer (CMO). Each chief, with the exception of the CPM, is in charge of
delegating tasks to each member of his or her branch in order to ensure that Legacy maintains a productive
and welcoming environment. The CFO is in charge of The Accounting & Finance Department and fills out
financial reports to account for the company’s expenses. The Accounting & Finance team also shares the
responsibility of the payroll register, delivering paychecks to Legacy’s employees. The CAO is in charge of the
Business Management & Administration Department and works to ensure that the company maintains its
work ethic and team spirit through company policy guidelines, the company email, and team building efforts.
The CDO leads the Design & IT branch to develop the company’s website and advertising appeal for potential
consumers. The branch also assists in acquiring survey data from Legacy’s employees to ensure that favorable
opinions are utilized in an effective manner. The CPM acts as an objective organizer for the company by
researching significant upcoming events and arranging the organization of our trade show representation. The
CMO guides the Sales & Marketing branch in the development of our communication with potential clients
through our unique travel package offers.

Company Goals 

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Legacy has been able to create a website that is easy to navigate but 
still aesthetic to the eye. Moving into foreign destinations allowed for 
legacy to offer more variety to our customers. Unfortunately Legacy 
was not able to acquire the ten new accounts or keep a 5% customer 
loyalty rate.   

Marketing and advertising plan  

Legacy’s focus on promoting the company through social media paid off due to 
the fact that it's low cost, reaches our target market, and is capable of receiving 
feedback. Originally the company had planned to reach our target market 
through social media and emailing consumers about our products. This was 
successful for our company and cost us little to no money at all. The biggest way 
we advertised our company was through communicating with potential 

7
 consumers to turn them into buyers. Before the trade shows we would send 
emails to advertise our products/ deals. Also, we would send out emails to prior 
customers to ensure they were satisfied with our products as well as advertise 
more products they could buy from us. 

Target Market 

 
Legacy’s target market consists of two major groups. The biggest group is fellow VE high school
students and employees; most of our sales, if not all, are through this group. Secondly, we target anyone who
likes to travel. Our wide range of destinations (e.g. Miami to Boulder) appeals to different crowds. There will
always be those who enjoy warm beaches and those who like snow-capped mountains. Because of this, we
consider anyone who is looking to travel and enjoy their time away from home to be within our target market.
Being members of our target demographic of the younger audience of high school VE students, we
understand their demands of a weekend or week-long getaway. Now more than ever, school places high stress
on kids, as scientific studies have repeatedly shown. Nearly half (49%) of all students reported feeling a great
deal of stress on a daily basis and 31% reported feeling somewhat stressed (NYU, see A3). This reason, along
with this market being where a majority of our sales are going, is why we place them as our primary market.
Finally, in regards to a more comprehensive sector of our target market, we plan to advertise to anyone
with the willingness to adventure and minimize, if not eliminate, the main reasons 75% of Americans do not
vacation (see A4). While some of our packages are more family-friendly, there are packages for the
honeymooning couple as well. Whether it is a boy’s weekend out to Miami or a girl’s weekend out to LA -- no
matter the age, family situation, or any other potentially limiting factor -- our structure allows vacations for all.
Although this market is quite extensive, we, unfortunately, do not sell our services to them due to the
restrictions of the VE online market.

Market Research 
We used much of what we learned from first semester to augment old packages and create
completely new trips for our customers. Through multiple VEI surveys, and consistent research of

8
this regions demographics, we found our target market is anywhere from 16 to 35 year olds. On top of
such a large market range, we found that the consumers prefer the packages more customizable,
mostly due to the sense of individuality and uniqueness each choice gives the consumer.

Ad campaign 
Legacy has used many different tactics in order to effectively advertise and promote our
products. Our first ad was a flyer giving information about our company while also including a
wristband that could be used as a discount if brought to our booth. This helped bring sales in because
people were able learn about our new company while also getting something tangible and receiving
discounted items. Another major contribution to promoting our travel packages was the use of social
media. We ran a twitter and instagram account promoting information about what our company has
been up to and certain accomplishments. Finally, we used direct mail by sending out emails to
previous customers about new products or sport packages that would be discontinued soon. With our
wide variety of advertising platforms, we were able to reach a wide target market and bring a lot of
sales in to the company.

Trade Show Research 

Our company focuses on creating new experiences for our customers. To that end, every booth that
we designed this year was a fresh, new, exciting new experience for both our customer and our
employees.

We did run into some setbacks at the beginning of the year. After planning out a complete booth,
we realized that we did not have the budget we expected in order to purchase electricity into our
booth. After scrapping our idea, we redid the entire booth in just under two weeks. It was for the best,
as we won Top 25% for our booth design that event. We designed the booth with the overall theme
of travel, but we let it manifest into different ways. For our first booth, we split our booth into to
themes (winter and summer) and filled each side with objects that matched the theme, such as a
mermaid and an evergreen tree. Our second booth was designed as an airport terminal gate, with
priority boarding signs and a flight attendant. The third one was our most complex design and based
on the theme gateway to adventure, which featured a heavens gates style design walking into our
booth which had a constant loop of our vacation destinations.

In every booth we made, we included some sort of prize raffle or game in order to entice customers
to look at our products. The first booth involved an online wheel used with a range of prizes from

9
 Candy to Beach Balls. The second booth used the same prizes, but with a physical Plinko Board
instead of a Virtual Wheel, and our third Booth was just a straight raffle. We would also send some
attendees of the show rubber wristbands prior to the trade show and offer them discounts if they
came by our booth wearing one. This promoted us both before and during, as it got people talking
and got people moving our direction.

Above we have our projected trade show sales compared to our actual trade show sales. Excluding
Great Lakes(which had low attendance due to weather), we blew our numbers away constantly, all
thanks to our booth design and it’s one task: be a weenie to draw people in. Because when you get
people in your booth, you get sales in your POS System (feel free to use that on instructional
information next year).
 
Corporate Website 
Our website accounted for a majority of our sales through the year. We started off fast with a
high number of sales in the beginning of the year, but stagnated into January. We received a big boost
in sales from the Online Trade Show. In order to attract attention and keep website retention I had 4
fundamental principles: clean, easily navigable, visibly appealing, and is constantly advertising for
consumers. The intro page basically shows what you are as a company. So when you arrive at our site
you're greeted to a nice beach shore to create a impression of relaxation from our company. I made
sure to sectionalize our products according by making categories such as sports, seasonal, cold, and
warm; Within those I separated them into international and domestic to really breakdown what the
consumer wants. I wanted to make the site clean and simple and ensured the drop down menu

10
doesn't look cluttered, it also mirrors our approach we take in trade shows. I made sure to actively
detail the activities in an appealing way to try to entice the consumer into wanting to go to the
location.Overall the site was made to actively market toward potential consumers with 4 basic
principles that the website was built upon. I ensured that it would be welcoming yet constantly trying
to sell without the viewer even noticing.

 
 
Brand Awareness 
We worked hard this past year to create Legacy’s brand. We wanted Customers to 
associate Legacy with relaxation. Due to us wanting our customers to think of 
relaxation when thinking of Legacy we strived to make the travel booking 
experience less stressful and more enjoyable for all. During this year we conveyed 
relaxation through our advertising materials by making the potential customer 
feel as if they were on a beach in Miami or skiing down the top of the mountain. 

11
  

 
Risk 
As Legacy opened, we anticipated a few risks to running a travel based business. One of our

quickly identified risks was the fact that--because we do not operate completely independently (we
employ the resources of airlines, hotels, and other specialized activity companies)--regulations
change with the companies we choose to partner and operate with. These changes can cause
problems when we try to get our customers to their location. Take, for instance, American Airlines,
who exclusively uses Boeing 737’s. If there was a regulation change that limited the use of such a
capital resource, we could face slower, longer lines, both in the airport and in our online queue.
This risk turned out to not be as much of a problem as anticipated. Despite the Boeing issue in
the 2019 first and second quarter, the 737 Max was not a widely used plane in the service that we
provided, and thus we were largely unimpacted.
Another risk we faced was cancellations on the behalf of the customer. We anticipated
customers backing out before their trip, so to prevent this, we clarified on our website that we do not
offer a return on any purchases. We did not face any complaints from this all year long thanks to our
great website, customer service, and ability to create experiences like no other.
The adventures and activities we provide are in themselves a dangerous expedition. With our
offers of zip-lining, snowboarding, etc. there is an inherent risk of injury, and thus, large liability. In
the courts, it is nearly impossible to erase all liability as a third party between customer and
destination. Our approach to this was to make sure that by purchasing from Legacy, they release us of
all liability in the event of trauma or injury. Again, we did not face any issues all year in this predicted
risk.
Finally, arguably our largest risk was personal safety in the geopolitical aura. Once we expand
into other foreign destinations, there may be areas with a lower political boiling point due to recent
international interactions. Despite this large risk, it is easily manageable on our end. We made sure

12
 that we were choosing destinations that were safe and closely evaluated by our Marketing and Sales
team to ensure a great travel experience without the worry of being robbed or kidnapped.

Strategic Direction 
Legacy has had a very successful year breaking into the Travel and Tourism Industry with our
revolutionary vacation experiences. As we enter the 2019/2020 fiscal year, we are thrilled to be
attaining a new level of experience through our immersion and relocation packages. While we will be
continuing to create vacation experiences like no other, we will also be helping people who wish to
learn about or move into a new location.

Our Immersion Packages are comparable to study abroad opportunities presented to college
students. We will take care of the logistics of your work, as we know you will want to continue
working at your current job. We will organize your commute, get your boss to sign off, and even give
you status on our partner airline (American Airlines) to ensure that you always travel to work in
style. You’ll be immersed in a new way of life, while still supporting yourself through your work. In
some cases, the immersion and the work can become the same thing, as many people who buy these
packages take on second jobs locally to support themselves.

We are also proud to announce that we have a proposal in the works to partner with the
company Two Men and a Truck with our Relocation Packages. The process is the exact same as how
one would normally move with Two Men and a Truck; however, consumers pay more because we are
taking a cut of the profits. In return, they will receive points and status on our new rewards program:
Leg-Up-Acy.

We will also be expanding new vacation packages into the following locations: the Galapagos
Islands; San Antonio, Texas; Puebla, Mexico; Mt. St. Helena; Province of Laguna, the Philippines; The
Balkan Peninsula; Agra, India; Budapest, Hungary; Buenos Aires, Argentina; Gobi Desert, Mongolia;
South Africa; Wakanda; Zanzibar; Armenia; The Adriatic Tour; Serbia; Transylvania, Romania;
George Town, Penang, Malaysia; Xi'an, China; Barcelona, Spain; Granada, Spain; Toledo, Spain;
Valencia, Spain; Seville, Spain; Madrid, Spain; Salamanca, Spain; Really Anywhere In, Spain; Moscow,
Russia; Taipei, Taiwan; Metro Manila, Philippines; Thrace Region, Turkey; Morocco; Croatia; Puerto
Rico; Cuba;​ ​and more!

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 We look forward to the upcoming year at Legacy and cannot wait for everything we have in
store; thank you so much to everyone who has chosen us to make your experiences the best they can
possibly be

Financial Planning 

 
Break Even Analysis
The break-even analysis was generated using the
average selling price per unit as well as the average cost of
our product. Our average unit cost is $1,840 with an
average wholesale cost of $1,083.08. We calculated the
fixed expenses using the expense section of the income
statement and the variable expenses were based on the
cost of goods sold. After factoring in the cost of goods
sold, average selling price, and expenses, Legacy sold 294
units; a total of $539,814.61, in order to break even.

Income Statement

Legacy

Income Statement

For Year Ended 4/30/2019

price per
unit year 11/30 12/31 1/31 2/28 3/31 4/30

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 Sales revenues

Trade show revenues 1,209,278.09 99,744.00 0.00 0.00 45,799.87 0.00 1,063,734.22

online trade show

revenues 90,674.12 0.00 0.00 0.00 0.00 0.00 90,674.12

Contractual sales to
non-VE entities 403,286.28 0.00 0.00 0.00 403,286.28 0.00 0.00

contest winnings 10,000.00 0.00 0.00 0.00 10,000.00 0.00 0.00

online revenues 364,350.69 2,771.30 19,265.00 32,154.70 87,702.79 6,654.87 215,802.03

2,077,589.18 102,515.30 19,265.0 32,154.70 546,788.94 6,654.87 1,370,210.37

Cost of goods sold or

services provided

MAUI

maui flight 481.00 21,645.00 7,696.00 481.00 1,443.00 1,443.00 481.00 10,101.00

maui hotel 152.00 27,360.00 9,728.00 608.00 1,824.00 1,824.00 608.00 12,768.00

snorkling 47.00 2,021.00 752.00 47.00 141.00 47.00 47.00 987.00

sunrise rike tour 92.00 2,852.00 920.00 92.00 276.00 92.00 92.00 1,380.00

skydiving 122.00 1,952.00 732.00 0.00 0.00 0.00 0.00 1,220.00

zipline tour 79.00 3,081.00 1,264.00 79.00 237.00 79.00 79.00 1,343.00

MIAMI

florida flight 112.00 2,912.00 112.00 224.00 112.00 896.00 0.00 1,568.00

florida hotel 120.00 7,200.00 480.00 480.00 240.00 1,920.00 0.00 4,080.00

Fishing trip 28.00 644.00 28.00 56.00 28.00 140.00 0.00 392.00

deep sea fishing 49.00 343.00 0.00 49.00 0.00 147.00 0.00 147.00

dolpins game 90.00 450.00 0.00 0.00 0.00 180.00 0.00 270.00

15
 miami heat game 30.00 330.00 30.00 30.00 30.00 150.00 0.00 90.00

miami zoo 22.95 596.70 22.95 45.90 22.95 183.60 0.00 321.30

skydiving 122.00 732.00 0.00 0.00 0.00 122.00 0.00 610.00

BOULDER

colorado flight 89.00 4,361.00 445.00 89.00 0.00 1,068.00 89.00 2,670.00

colorado hotel 123.00 19,557.00 2,460.00 246.00 0.00 4,797.00 246.00 11,808.00

hiking 69.00 2,691.00 276.00 69.00 0.00 690.00 69.00 1,587.00

ski pass 17.00 833.00 85.00 17.00 0.00 204.00 17.00 510.00

bike tour 65.00 2,600.00 325.00 65.00 0.00 650.00 65.00 1,495.00

skydiving 122.00 2,318.00 122.00 0.00 0.00 488.00 0.00 1,708.00

NEW YORK

NY flight 133.00 665.00 399.00 0.00 0.00 0.00 0.00 266.00

NY hotel 145.00 1,740.00 870.00 0.00 0.00 0.00 0.00 870.00

Statue of Liberty 32.00 160.00 96.00 0.00 0.00 0.00 0.00 64.00

9/11 museum 35.00 140.00 70.00 0.00 0.00 0.00 0.00 70.00

Cruise tour 35.00 175.00 105.00 0.00 0.00 0.00 0.00 70.00

helicopter tour 209.00 209.00 209.00 0.00 0.00 0.00 0.00 0.00

LA

LA flight 119.00 10,115.00 476.00 119.00 0.00 7,973.00 0.00 1,547.00

LA hotel 126.00 23,688.00 1,764.00 252.00 0.00 17,136.00 0.00 4,536.00

Disneyland 105.00 2,940.00 210.00 0.00 0.00 2,310.00 0.00 420.00

six flags 65.00 2,340.00 195.00 65.00 0.00 1,495.00 0.00 585.00

universal 109.00 2,943.00 109.00 0.00 0.00 2,398.00 0.00 436.00

bus tour 35.00 2,975.00 140.00 35.00 0.00 2,345.00 0.00 455.00

Warner bros hollywood

tour 61.00 4,941.00 244.00 61.00 0.00 4,087.00 0.00 549.00

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 ALASKA

Alaska flight 410.00 12,710.00 2,460.00 410.00 1,640.00 0.00 0.00 8,200.00

Alaska hotel (for entire

trip) 799.00 24,769.00 4,794.00 799.00 3,196.00 0.00 0.00 15,980.00

whale watching 50.00 1,550.00 300.00 50.00 200.00 0.00 0.00 1,000.00

rock climbing 95.00 2,945.00 570.00 95.00 380.00 0.00 0.00 1,900.00

ski tickets 65.00 2,015.00 390.00 65.00 260.00 0.00 0.00 1,300.00

PUNTA CANA

PC flight 390.00 13,260.00 0.00 0.00 0.00 1,560.00 390.00 11,310.00

PC hotel 110.00 12,320.00 0.00 0.00 0.00 1,320.00 220.00 10,780.00

dolphin island 155.00 1,395.00 0.00 0.00 0.00 310.00 0.00 1,085.00

natural park 149.00 3,725.00 0.00 0.00 0.00 298.00 149.00 3,278.00

snorkling 99.00 3,366.00 0.00 0.00 0.00 396.00 99.00 2,871.00

water park 39.00 1,326.00 0.00 0.00 0.00 156.00 39.00 1,131.00

SANTORINI, GREECE

Sant flight 640.00 32,000.00 0.00 0.00 0.00 1,920.00 0.00 30,080.00

Sant hotel 73.00 13,286.00 0.00 0.00 0.00 730.00 0.00 12,556.00

tour 58.24 2,912.00 0.00 0.00 0.00 174.72 0.00 2,737.28

ATV 186.36 8,013.48 0.00 0.00 0.00 372.72 0.00 7,640.76

cruise 110.65 5,532.50 0.00 0.00 0.00 331.95 0.00 5,200.55

helicopter tour 321.50 5,465.50 0.00 0.00 0.00 321.50 0.00 5,144.00

KINGSTON, JAMAICA

Jam flight 359.00 5,744.00 0.00 0.00 0.00 359.00 0.00 5,385.00

Jam hotel 155.00 9,920.00 0.00 0.00 0.00 620.00 0.00 9,300.00

museum 20.00 320.00 0.00 0.00 0.00 20.00 0.00 300.00

hike 135.00 675.00 0.00 0.00 0.00 0.00 0.00 675.00

17
 devon house 7.00 112.00 0.00 0.00 0.00 7.00 0.00 105.00

food tour 90.00 990.00 0.00 0.00 0.00 90.00 0.00 900.00

BARCELONA, SPAIN

Spain flight 471.00 75,360.00 0.00 0.00 0.00 25,434.00 0.00 49,926.00

Spain hotel 111.00 44,622.00 0.00 0.00 0.00 17,094.00 0.00 27,528.00

hotel in costa brava 52.00 8,320.00 0.00 0.00 0.00 2,808.00 0.00 5,512.00

soccer game FC 108.69 5,651.88 0.00 0.00 0.00 3,152.01 0.00 2,499.87

history museum 7.95 1,272.00 0.00 0.00 0.00 429.30 0.00 842.70

art gallery 13.63 2,167.17 0.00 0.00 0.00 722.39 0.00 1,444.78

tapas tour 81.00 8,991.00 0.00 0.00 0.00 2,268.00 0.00 6,723.00

VARADERO, CUBA

cuba flight 469.00 2,345.00 0.00 0.00 0.00 0.00 0.00 2,345.00

cuba hotel 174.25 2,439.50 0.00 0.00 0.00 0.00 0.00 2,439.50

parasailing 150.00 600.00 0.00 0.00 0.00 0.00 0.00 600.00

surf lessons 170.00 510.00 0.00 0.00 0.00 0.00 0.00 510.00

snorkeling 40.00 200.00 0.00 0.00 0.00 0.00 0.00 200.00

deep sea fishing 200.00 600.00 0.00 0.00 0.00 0.00 0.00 600.00

DUBAI

dubai flight 682.00 35,464.00 0.00 0.00 0.00 1,364.00 0.00 34,100.00

dubai hotel 110.00 17,600.00 0.00 0.00 0.00 440.00 0.00 17,160.00

helicopter tour 135.00 2,970.00 0.00 0.00 0.00 270.00 0.00 2,700.00

water park 79.00 3,318.00 0.00 0.00 0.00 158.00 0.00 3,160.00

Ferrari World Dubai 80.31 3,212.40 0.00 0.00 0.00 0.00 0.00 3,212.40

dune riding 67.40 3,504.80 0.00 0.00 0.00 134.80 0.00 3,370.00

TORONTO, CANADA

tor fight 215.00 1,290.00 0.00 0.00 0.00 0.00 0.00 1,290.00

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 tor hotel 129.00 2,322.00 0.00 0.00 0.00 0.00 0.00 2,322.00

helicopter tour 112.00 448.00 0.00 0.00 0.00 0.00 0.00 448.00

niagra falls tour 68.50 411.00 0.00 0.00 0.00 0.00 0.00 411.00

park tour 142.30 569.20 0.00 0.00 0.00 0.00 0.00 569.20

food tour 75.80 303.20 0.00 0.00 0.00 0.00 0.00 303.20

FRENCH ALPS

alps flight 489.00 16,137.00 0.00 0.00 0.00 489.00 0.00 15,648.00

alps hotel 121.00 17,908.00 0.00 0.00 0.00 1,089.00 0.00 16,819.00

cable car 70.00 1,190.00 0.00 0.00 0.00 70.00 0.00 1,120.00

skiing 30.00 990.00 0.00 0.00 0.00 30.00 0.00 960.00

train 35.00 1,155.00 0.00 0.00 0.00 35.00 0.00 1,120.00

hydrospeed 65.00 1,040.00 0.00 0.00 0.00 0.00 0.00 1,040.00

STOCKHOLM,
SWEDEN

swe flight 502.00 11,044.00 0.00 0.00 0.00 0.00 0.00 11,044.00

swe hotel 77.00 6,776.00 0.00 0.00 0.00 0.00 0.00 6,776.00

ABBA museum 28.40 624.80 0.00 0.00 0.00 0.00 0.00 624.80

red bus 40.86 449.46 0.00 0.00 0.00 0.00 0.00 449.46

sports game 35.84 394.24 0.00 0.00 0.00 0.00 0.00 394.24

TOKYO, JAPAN

tokyo flight 610.00 4,880.00 0.00 0.00 0.00 0.00 0.00 4,880.00

tokyo hotel 140.00 4,480.00 0.00 0.00 0.00 0.00 0.00 4,480.00

Nagano day trip 274.54 549.08 0.00 0.00 0.00 0.00 0.00 549.08

bathhouse 4.20 33.60 0.00 0.00 0.00 0.00 0.00 33.60

food tour 98.25 294.75 0.00 0.00 0.00 0.00 0.00 294.75

skiing 44.76 134.28 0.00 0.00 0.00 0.00 0.00 134.28

19
 art museum 27.41 219.28 0.00 0.00 0.00 0.00 0.00 219.28

ORLANDO

flight 238.00 4,522.00 0.00 0.00 0.00 0.00 0.00 4,522.00

hotel 161.00 18,354.00 0.00 0.00 0.00 0.00 0.00 18,354.00

universal 281.17 5,342.23 0.00 0.00 0.00 0.00 0.00 5,342.23

Disneyland 379.14 7,203.66 0.00 0.00 0.00 0.00 0.00 7,203.66

univesal fast pass 80.00 1,520.00 0.00 0.00 0.00 0.00 0.00 1,520.00

disney fast pass 20.00 380.00 0.00 0.00 0.00 0.00 0.00 380.00

JERUSALEM

flight 973.00 6,811.00 0.00 0.00 0.00 0.00 0.00 6,811.00

hotel (4 day) 131.00 3,668.00 0.00 0.00 0.00 0.00 0.00 3,668.00

chocolate factory 17.92 89.60 0.00 0.00 0.00 0.00 0.00 89.60

jeep tour 97.00 194.00 0.00 0.00 0.00 0.00 0.00 194.00

city tour 73.00 146.00 0.00 0.00 0.00 0.00 0.00 146.00

living museum 9.65 67.55 0.00 0.00 0.00 0.00 0.00 67.55

egg hunt 10.00 50.00 0.00 0.00 0.00 0.00 0.00 50.00

FOOTBALL

bears vs lions 85.00 850.00 850.00 0.00 0.00 0.00 0.00 0.00

bears vs rams 150.00 1,950.00 1,950.00 0.00 0.00 0.00 0.00 0.00

titans vs texans 60.00 240.00 240.00 0.00 0.00 0.00 0.00 0.00

vikings vs green bay 100.00 300.00 300.00 0.00 0.00 0.00 0.00 0.00

NFL pro bowl 726.00 1,452.00 0.00 726.00 726.00 0.00 0.00 0.00

HOCKEY

penguins 873.00 873.00 0.00 0.00 873.00 0.00 0.00 0.00

BASKETBALL 0.00

final four 1,685.50 45,508.50 0.00 0.00 0.00 45,508.50 0.00 0.00

20
 lakers vs warriors 1,039.00 7,273.00 7,273.00 0.00 0.00 0.00 0.00 0.00

BASEBALL

cubs vs dodgers 360.00 6,840.00 0.00 0.00 0.00 0.00 0.00 6,840.00

white sox vs tigers 216.00 432.00 0.00 0.00 0.00 0.00 0.00 432.00

red sox vs tigers 266.00 1,596.00 0.00 0.00 0.00 0.00 0.00 1,596.00

cardinals vs brewers 320.50 4,166.50 0.00 0.00 0.00 0.00 0.00 4,166.50

yankees vs angels 296.00 592.00 0.00 0.00 0.00 0.00 0.00 592.00

OTHER

hotel 115.00 21,045.00 230.00 345.00 460.00 7,015.00 230.00 12,765.00

flight 225.00 36,900.00 0.00 675.00 225.00 7,425.00 0.00 28,575.00

button 0.20 12.60 0.00 0.00 0.00 0.00 0.00 12.60

Gross profit 1,284,571.32 52,793.35 12,890.1 19,840.75 369,001.45 3,734.87 826,310.80

Operating expenses Per month

advertising 11,550.00 0.00 11,550.0 0.00 0.00 0.00 0.00

business insurance 250.00 1,500.00 250.00 250.00 250.00 250.00 250.00 250.00

workers compensation 917.81 3,750.51 917.81 566.54 566.54 566.54 566.54 566.54

rent 685.00 4,110.00 685.00 685.00 685.00 685.00 685.00 685.00

shipping varies 17,175.00 225.00 1,125.00 1,075.00 3,065.00 425.00 11,260.00

Payroll 45,890.66 298,289.29 68,835.99 45,890.6 45,890.66 45,890.66 45,890.66 45,890.66

payroll taxes - - - - - - - -

Social Security tax 2,845.22 18,493.93 4,267.83 2,845.22 2,845.22 2,845.22 2,845.22 2,845.22

Medicare tax 665.41 4,325.19 998.12 665.41 665.41 665.41 665.41 665.41

federal unemployment tax 2,753.44 18,890.87 5,123.67 2,753.44 2,753.44 2,753.44 2,753.44 2,753.44

State unemployment tax 1,112.18 7,780.86 2,219.96 1,112.18 1,112.18 1,112.18 1,112.18 1,112.18

21
 sales tax varies 121,912.56 5,211.46 1,353.45 1,589.70 34,786.12 435.37 78,536.46

Utilities - - - - - - - -

water 58.00 348.00 58.00 58.00 58.00 58.00 58.00 58.00

electric 290.00 1,740.00 290.00 290.00 290.00 290.00 290.00 290.00

gas 290.00 1,740.00 290.00 290.00 290.00 290.00 290.00 290.00

telephone/internet 80.00 480.00 80.00 80.00 80.00 80.00 80.00 80.00

Total operating
expenses 512,086.22 89,452.84 69,514.9 58,151.16 93,337.58 56,346.83 145,282.92

total product income: 1,565,502.96 13,062.46 -50,249.9 -25,996.46 453,451.36 -49,691.96 1,224,927.45

Net Income 772,485.10 -36,659.49 -56,624.8 -38,310.41 275,663.87 -52,611.96 681,027.88

Yearly net income before

taxes 772,485.10 772,485.10

Corporate income tax 115872.76 115872.76

Yearly net income after

taxes 656,612.33 656,612.33

The income statement keeps a record of the company’s revenues and expenses to later show if we have made a
net profit or net loss throughout the fiscal period. All expenses were prudently set and analyzed with specific
departments in Legacy. By the end of the year, Legacy faces a net profit of $772,485.10 . Our overall revenue
exceeded our projections for the company.

22
Balance Sheet

23
 The balance sheet provides numbers identifying Legacy’s stable collection of assets that meet both
current and long-term liabilities. Legacy currently possesses $493,738.86 in total current assets which is mainly
provided through the current cash asset of Legacy. In terms of fixed assets, Legacy currently owns $1250 worth
of goods which is calculated by taking Legacy’s current value of equipment and then subtracting the
accumulated depreciation. Legacy’s total assets come out to $494,988.86, which is calculated by adding the

24
current assets to the fixed assets. In terms of liabilities, Legacy currently is liable for a total of $481,665.93
which is calculated by adding all tax payable expenses of the company. Lastly, Legacy currently has a total
stockholders equity of $555.55, which can be added to Legacy’s current liability total to find the Total
Liabilities and Stockholders Equity of $494,988.86. Compared to the beginning of the fiscal year, assets, as well
as liabilities and owner’s equity have decreased by $31,589.81. Although the company decreased its loans
payable, it also lost some of its assets.

Ratio Analysis
By analyzing the ratio Legacy would be able to pay in the short-run for obligations, it has shown that we have
enough resources to meet it. In our case we have 1.025. This further explains since it is above 1, we have
enough liquid assets to cover long-term liabilities. The gross profit margin measures how much money the
company will have after accounting for the cost of producing goods and services and paying workers. Legacy’s
margin calculated was 5.40 which is extremely well because that means we had a huge net profit and most of
that can be contributed to the in school trade show and the amount of sales we acquired from that. The net
profit that was calculated is 75% which is extremely well because that means with such a high margin, Legacy
is efficient in converting sales into actual profit.

Current Ratio Current assets/current 1.02

Liabilities
Quick Ratio Cash + Accts. Receivable $498,588.86

Gross Profit Margin (COGS- Total Revenue)/ 5.40

Total revenue
Net Profit Margin Ratio Net Profit/Revenue 0.75
Debt-Asset Ratio Total Liabilities/Total 0.97
Assets

25
 Financial Write up
By evaluating the current industry and economic condition, Legacy´s financial team has concluded that
Legacy was well-positioned to run a serviceable and efficient business, which can be sustained by its cash
budget, income statement, and balance sheet.
At the beginning of the Fiscal Year, on the 20th of August 2018, Legacy had $555.55 in its bank
account. The company began with a loan of $250,000. In September 2018, Legacy overhauled their entire
business approach. Legacy’s payments amass to a total of $421,369.81, however, the majority of our payments
include payroll and sales tax. Our projected sales at the start of the fiscal period were $682,640, but our actual
sales were $4,155,178.36.
The balance sheet presents numbers that show Legacy’s stable collection of assets that meet both
current and long-term liabilities. Legacy currently possesses $261,975.74 in total current assets which is mainly
provided through the current cash asset of Legacy. In terms of fixed assets, Legacy currently owns a total of
$1250 of equipment. With that, Legacy’s total assets come out to $263,225.74, which is calculated by adding the
current assets to the fixed assets. In terms of liabilities, Legacy currently is liable for a total of $262,670.19,
which was calculated by adding all the tax payable expenses of the company. Lastly, Legacy currently has a
total stockholders equity of $555.55, which can be added to Legacy’s current liability total to find the total
liabilities and Stockholders Equity of $263,225.74.
The income statement keeps track of the company’s revenues and expenses to later show if we have
made a net profit or net loss throughout the fiscal period. As shown in the income statement, the company
incurred a net loss four out of the seven months, but a net profit for three out of the seven months. However,
Legacy has a net profit of $772,485.10. at the end of the fiscal period. All expenses were carefully set and
analyzed with specific departments in Legacy.

Bank Statement 

26
  
 

*Shown above is the beginning balance at 5/1/18 in Ref # 3806645 

*Shown above is the ending balance at 4/28/19 in Ref # 4498338 

27
Appendix

 
A1.

A2.

28
A3.

A4.

29
A5.

30
31
 A6.

 
 
 
 
 
 

32
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