The balance sheet shows assets of $710,000 including current assets of $280,000 such as cash, ingredients, and packaging materials. Fixed assets include land, buildings, equipment, and furniture valued at $430,000. Total liabilities are $30,000 in accounts payable. Bhenil Bon Velazquez's capital contribution is $680,000. The income statement projects annual sales of $650,000 with cost of goods sold of $325,000, resulting in gross profit of $325,000 and net income of $210,000 or 32% of sales.
The balance sheet shows assets of $710,000 including current assets of $280,000 such as cash, ingredients, and packaging materials. Fixed assets include land, buildings, equipment, and furniture valued at $430,000. Total liabilities are $30,000 in accounts payable. Bhenil Bon Velazquez's capital contribution is $680,000. The income statement projects annual sales of $650,000 with cost of goods sold of $325,000, resulting in gross profit of $325,000 and net income of $210,000 or 32% of sales.
The balance sheet shows assets of $710,000 including current assets of $280,000 such as cash, ingredients, and packaging materials. Fixed assets include land, buildings, equipment, and furniture valued at $430,000. Total liabilities are $30,000 in accounts payable. Bhenil Bon Velazquez's capital contribution is $680,000. The income statement projects annual sales of $650,000 with cost of goods sold of $325,000, resulting in gross profit of $325,000 and net income of $210,000 or 32% of sales.
The balance sheet shows assets of $710,000 including current assets of $280,000 such as cash, ingredients, and packaging materials. Fixed assets include land, buildings, equipment, and furniture valued at $430,000. Total liabilities are $30,000 in accounts payable. Bhenil Bon Velazquez's capital contribution is $680,000. The income statement projects annual sales of $650,000 with cost of goods sold of $325,000, resulting in gross profit of $325,000 and net income of $210,000 or 32% of sales.
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Student - Bhenil Bon Velazquez
CAFE LUXURIOUS Balance Sheet As of February 1, 2022
ASSETS LIABILITIES & CAPITAL
Current Assets: Liabilities: Cash 30,000.00 Accounts Payable 30,000.00 Insurance Payable Accounts Receivable Long-term Payable Ingredients/Coffee Flour 200,000.00 Packaging Materials 50,000.00 Total 280,000.00 Total Liabilities FIXED ASSETS: CAPITAL: Bhenil Bon Velasquez - Land Capital 680,000.00
Building Add: Net Income/Loss
Coffee Equipments 300,000.00 Tables & Chairs 100,000.00 Kitchen Utensils 30,000.00 Total 430,000.00 Total Capital TOTAL ASSETS: 710,000.00 TOTAL LIABILITIES AND CAPITAL 710,000.00
CAFE LUXURIOUS PROPOSAL INCOME STATEMENT Year Ended December 31, 2022 AMOUNT PERCENTAGE (%) Sales/Revenue 650,000.00 100% Less: Cost of Sales
Beg. Inventory 150,000.00
Purchases 200,000.00 Goods Available for Sale 350,000.00 Less: Ending Inventory 25,000.00 325,000.00 50% Gross Profit 325,000.00 50%
Less: Operating Expenses
1. Salaries of Wages 80,000.00
2. Power & Light 18,000.00
3. Insurance Expense 4,500.00
4. Packaging Materials 6,500.00
5. Transport/Delivery Expenses 35,000.00
6. Office Supplies 8,000.00
7. Employees Benefits 55,000.00 8. Other Expenses 8,000.00 215,000.00 18%
Net Income 210,000.00 32%
NOTES/REMARKS: 1) Payback period is 3.23 years or 39 months. 2) Return Investment is 31%.
