Our start-up costs include the cost of leasing and renovating the store, purchasing inventory, and salary. We estimate our start-up costs to be $200,000. Amount of the loan 100,000 Personal savings 100,000 Our ongoing operating costs include rent, utilities, payroll, inventory, and marketing expenses. We estimate our monthly operating costs to be $30,000 We plan to finance our start-up costs through a combination of personal savings, loans from a financial institution Revenue 20,000 We estimate our break-even point to be approximately $50,000 in monthly revenue. This means that we will need to generate at least $50,000 in sales each month to cover our operating costs and break even. From the above information Prepare a Balance sheet, income statement, and financial statements Prepare Pro Forma (Projected) Financial Statements for Three to Five Years If anything is wrong in this please solve which ever way is correct and explain

Our start-up costs include the cost of leasing and renovating the store, purchasing inventory, and salary. We estimate our start-up costs to be $200,000. Amount of the loan 100,000 Personal savings 100,000 Our ongoing operating costs include rent, utilities, payroll, inventory, and marketing expenses. We estimate our monthly operating costs to be $30,000 We plan to finance our start-up costs through a combination of personal savings, loans from a financial institution Revenue 20,000 We estimate our break-even point to be approximately $50,000 in monthly revenue. This means that we will need to generate at least $50,000 in sales each month to cover our operating costs and break even. From the above information Prepare a Balance sheet, income statement, and financial statements Prepare Pro Forma (Projected) Financial Statements for Three to Five Years If anything is wrong in this please solve which ever way is correct and explain

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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