Reference no: EM13327203
Create pro forma statements of five year projections that are clear, concise, and easy to read.XYZ Company, INC.Profit and Loss StatementYear Ended December 31, 20XX%Sales 1,750,450Returns and allowances 2,752Net Sales 1,747,698 100.0Cost of SalesBeginning Inventory 50,000Purchases 610,162Production Labor 420,108Ending Inventory 30,000Total Cost of Sales 1,050,270 60.1Gross Profit 697,428 39.9Selling ExpenseWages 75,000Commissions 25,000Marketing 25,000Total Selling Expenses 125,000 7.2Operating ExpenseSalaries 225,000Payroll taxes 29,000Benefits 27,000Office Supplies 500Postage 250Professional Fees 2,000Telephone 850Utilities 950Training & Education 250Miscellaneous 50Total Operating Expense 285,850 16.4Operating Profit-EBITDA 286,578 16.4Other Income (Expense)Interest (9,650)Depreciation (12,000)Amortization (2,500)Total Other Income (Expense) (24,150)Total Pre-tax Profit 262,428 15.0Income Tax Allowance 118,093Net Profit 144,335 8.3
XYZ Company, INC.
Balance Sheet
For Year Ending December 31, 20XX
ASSETS
Current Assets
Cash 10,525
Accounts Receivable 27,000
Inventory 30,000
Prepaid Expenses 2,000
Total Current Assets 69,525
Fixed Assets
Property-net of depreciation 215,000
Equipment-net of depreciation 80,000
Vehicles-net of depreciation 5,000
Total Fixed Assets 300,000
Total Assets 369,525
LIABILITIES
Current Liabilities
Revolving lines of credit 20,000
Accounts Payable 5,000
Current Portion of Long-term Debt 15,000
Total Current Liabilities 40,000
Long-term Liabilities
Long-term debt and capital leases 45,500
Loans payable to stockholders 60,500
Total Long-term Liabilities 106,000
Total Liabilities 146,000
Stockholders Equity
Common stock 1,000
Additional Paid-in Capital 25,000
Retained Earnings (Cum from prior years) 53,190
Retained Earnings (From current P&L) 144,335
Total Stockholders Equity 223,525
Total Liabilities and Stockholders Equity 369,525
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