Computing Development Strategies

Pro Forma Balance Sheet - 12/31/00

Assets
Current Assets:
Cash
Accounts Receivable
Less: Reserve for Bad Debts
Merchandise Inventory
Prepaid Expenses - Insurance
Notes Receivable
Total Current Assets

$91,647
$0
0

0
1,000
600
0
$93,247

Fixed Assets:
Vehicles
Less: Accumulated Depreciation

0
0

Furniture and Fixtures

Less: Accumulated Depreciation

6,000
1,000

5,000

Equipment - Computer Fax Machine

Less: Accumulated Depreciation

3,000
300

2,700

0
0

Buildings
Less: Accumulated Depreciation
Land

0
Total Fixed Assets

7,700

Other Assets:
Goodwill
Total Other Assets

0
0

Total Assets

$100,947

Liabilities and Capital

Current Liabilities:
Accounts Payable
Sales Taxes Payable
Payroll Taxes Payable - third quarter
Accrued Wages Payable
Unearned Revenues - January Deposits
Short-Term Notes Payable
Short-Term Bank Loan Payable
Total Current Liabilities

$4,504
0
2,880
4,078
5,000
0
0
$16,462

Long-Term Liabilities:
Long-Term Notes Payable
Mortgage Payable
Total Long-Term Liabilities

0
0

Total Liabilities

16,462

Capital:
Owner's Investment
Net Profit (Loss)
Less drawings or dividends

10,000
74,485
0

Total Capital

84,485

Total Liabilities and Capital

$100,947
0

Computing Development Strategies

Pro Forma Balance Sheet - 12/31/01
Assets
Current Assets:
Cash
Accounts Receivable
Less: Reserve for Bad Debts
Merchandise Inventory
Prepaid Expenses - Insurance
Notes Receivable
Total Current Assets

$283,076
$0
0

0
1,000
600
0
$284,676

Fixed Assets:
Vehicles
Less: Accumulated Depreciation

0
0

Furniture and Fixtures

Less: Accumulated Depreciation

6,000
2,000

4,000

Equipment - Computer Fax Machine

Less: Accumulated Depreciation

3,000
600

2,400

0
0

Buildings
Less: Accumulated Depreciation
Land

0
Total Fixed Assets

6,400

Other Assets:
Goodwill
Total Other Assets

0
0

Total Assets

$291,076

Liabilities and Capital

Current Liabilities:
Accounts Payable
Sales Taxes Payable
Payroll Taxes Payable - third quarter
Accrued Wages Payable
Unearned Revenues - January Deposits
Short-Term Notes Payable
Short-Term Bank Loan Payable
Total Current Liabilities

$4,504
0
2,880
4,078
7,000
0
0
$18,462

Long-Term Liabilities:
Long-Term Notes Payable
Mortgage Payable
Total Long-Term Liabilities

0
0

Total Liabilities

18,462

Capital:
Owner's Investment
Net Profit (Loss)
Less drawings or dividends

10,000
282,614
20,000

Total Capital

272,614

Total Liabilities and Capital

$291,076
0

Computing Development Strategies

Projected Profit and Loss Statement - 2000
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

$21,000
0
21,000

$30,960
0
30,960

$34,200
0
34,200

$34,200
0
34,200

$32,760
0
32,760

$28,080
0
28,080

$21,240
0
21,240

$19,440
0
19,440

$25,560
0
25,560

$30,600
0
30,600

$38,880
0
38,880

$34,920
0
34,920

$0
2,520
50
0
0
2,570
0
2,570
18,430

$1,000
2,160
50
0
0
3,210
0
3,210
27,750

$1,000
2,380
50
0
0
3,430
0
3,430
30,770

$1,000
2,380
50
0
0
3,430
0
3,430
30,770

$1,000
2,280
50
0
0
3,330
0
3,330
29,430

$1,000
1,960
50
0
0
3,010
0
3,010
25,070

$1,000
1,480
50
0
0
2,530
0
2,530
18,710

$1,000
1,360
50
0
0
2,410
0
2,410
17,030

$1,000
1,780
50
0
0
2,830
0
2,830
22,730

$1,000
2,080
50
0
20
3,150
0
3,150
27,450

$1,000
2,700
50
0
20
3,770
0
3,770
35,110

$1,000
2,420
50
0
20
3,490
0
3,490
31,430

300
0
810
40
0
0
3,154
1,520
50
30
100
10
600
48
20
0
200
400
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,017
(587)

300
0
929
40
0
0
3,154
1,520
58
30
100
10
600
48
20
0
200
460
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,204
8,546

300
0
1,026
0
0
0
3,154
1,520
64
0
100
10
600
48
20
0
200
506
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,283
11,487

300
0
1,026
0
0
0
3,154
1,520
64
0
100
10
600
48
20
0
200
506
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,283
11,487

300
0
983
0
0
0
3,154
0
61
36
100
10
600
48
20
0
200
400
734
20
200
200
0
1,500
0
400
0
300
0
8,155
17,421
12,009

300
0
842
0
0
0
3,154
0
52
31
100
10
600
48
20
0
200
409
734
20
200
200
0
1,500
0
400
0
300
0
8,155
17,275
7,795

300
0
637
0
0
0
3,154
0
39
24
100
10
600
48
20
0
200
307
734
20
200
200
0
1,500
0
400
0
300
0
8,155
16,948
1,762

300
0
583
0
0
0
3,154
0
35
22
100
10
600
48
20
0
200
276
734
20
200
200
0
1,500
0
400
0
300
0
8,155
16,857
173

600
0
767
45
0
0
3,154
1,520
46
29
100
10
600
48
20
0
200
359
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,233
3,497

600
0
918
40
0
0
3,154
1,520
55
35
100
10
600
48
20
0
200
431
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,466
7,984

600
0
1,166
40
0
0
3,154
1,520
69
44
100
10
600
48
20
0
200
539
960
20
200
200
0
1,500
0
400
0
300
0
8,155
19,845
15,265

300
0
1,048
40
0
0
3,154
0
62
40
100
10
600
48
20
0
200
485
734
20
200
200
0
1,500
0
400
0
300
0
8,155
17,616
13,814

0
0
0
($587)

0
0
0
$8,546

0
0
0
$11,487

0
0
0
$11,487

0
0
0
$12,009

0
0
0
$7,795

0
0
0
$1,762

0
0
0
$173

0
0
0
$3,497

0
0
0
$7,984

0
0
0
$15,265

0
0
0
$13,814

($587)

$7,959

$19,446

$30,933

$42,942

$38,728

$44,704

$44,877

$48,374

$56,358

$71,623

$85,437

Revenue:
Gross Sales
Less: Sales Returns and Allowances
Net Sales

Cost of Goods Sold:

Beginning Inventory
Add:
Purchases
Freight-in
Direct Labor
Indirect Expenses
Less:
Ending Inventory
Cost of Goods Sold
Gross Profit (Loss)

Expenses:
Advertising
Amortization
Bad Debts
Bank Charges
Charitable Contributions
Commissions
Computer Leases
Contract Labor
Credit Card Fees
Delivery Expenses
Depreciation
Dues and Subscriptions
Insurance
Interest
Maintenance
Miscellaneous
Office Expenses
Operating Supplies
Payroll Taxes
Permits and Licenses
Postage
Professional Fees
Property Taxes
Rent
Repairs
Telephone
Travel
Utilities
Vehicle Expenses
Wages
Total Expenses
Net Operating Income

Other Income:
Gain (Loss) on Sale of Assets
Interest Income
Total Other Income

Net Income (Loss)

Cumulative Net Income (Loss)

Note 1. Advertising: CDS has signed a two year contract with Technical Marketing Support, Inc. TMS will assist CDS in developing and implementing a marketing and advertising strategy.
The contract calls for payments of $300 a month for the first six months, and $600 a month thereafter.
Note 2. Bad Debt Expense: Based on the survey of 100 computer training firms in the Midwest, the average amount of uncollectible accounts is projected to be 5% of all sales on credit.
About 5% of all course fees will be paid on credit. Accordingly, bad debt should be small.
Note 3. Contract Labor: During the first four months of the year and September, October and November, CDS will hire Ms. Howe as a training instructor for $1,520 per month.
Note 4. Depreciation: The office furniture will be depreciated over six years on a straight-line basis. The office equipment. such as the computer, fax machine and copier will be depreciated over five years.
Note 5. Insurance: CDS has contracted with Pinnacle Insurance Company to provide an insurance policy on all the office and training equipment, as well as health insurance for the two employees.
Note 6. Office Expenses: This includes a monthly fee assessed for a maintenance agreement for all the office and training equipment in the facility.
Note 7. Professional Fees: CDS has hired an accountant to file quarterly employment tax forms and prepare financial reports for $200 per month.
Note 8. Rent: CDS has signed a three-year lease for the training facility. The monthly rent is $1,500 for the first year; $1,600 for the second year, and $1,700 for the third.

Computing Development Strategies

Projected Profit and Loss Statement - 2001
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

$34,020
0
34,020

$39,009
0
39,009

$43,092
0
43,092

$41,277
0
41,277

$41,277
0
41,277

$35,380
0
35,380

$26,762
0
26,762

$24,494
0
24,494

$32,205
0
32,205

$38,556
0
38,556

$48,988
0
48,988

$43,999
0
43,999

$1,000
3,040
50
0
0
4,090
0
4,090
29,930

$1,000
2,420
50
0
0
3,470
0
3,470
35,539

$1,000
2,740
50
0
0
3,790
0
3,790
39,302

$1,000
2,860
50
0
0
3,910
0
3,910
37,367

$1,000
3,220
100
0
0
4,320
0
4,320
36,957

$1,000
2,660
100
0
0
3,760
0
3,760
31,620

$1,000
1,960
100
0
0
3,060
0
3,060
23,702

$1,000
1,800
100
0
0
2,900
0
2,900
21,594

$1,000
2,400
100
0
0
3,500
0
3,500
28,705

$1,000
2,940
100
0
20
4,060
0
4,060
34,496

$1,000
3,880
100
0
20
5,000
0
5,000
43,988

$1,000
2,991
100
0
20
4,111
0
4,111
39,888

600
0
810
40
0
0
3,154
1,672
50
30
100
10
600
48
50
0
200
400
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
20,511
9,419

600
0
929
40
0
0
3,154
1,672
58
30
100
10
600
48
50
0
200
460
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
20,698
14,841

600
0
1,026
0
0
0
3,154
1,672
64
0
100
10
600
48
50
0
200
506
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
20,777
18,525

600
0
1,231
0
0
0
3,154
1,672
81
0
100
10
600
48
50
0
200
506
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
20,999
16,368

600
0
983
0
0
0
3,154
0
61
36
100
10
600
48
50
0
200
400
807
20
200
200
0
1,600
0
400
0
300
0
8,971
18,740
18,217

600
0
842
0
0
0
3,154
0
52
31
100
10
600
48
50
0
200
409
807
20
200
200
0
1,600
0
400
0
300
0
8,971
18,594
13,026

600
0
637
0
0
0
3,154
0
39
24
100
10
600
48
50
0
200
307
807
20
200
200
0
1,600
0
400
0
300
0
8,971
18,267
5,435

600
0
583
0
0
0
3,154
0
35
22
100
10
600
48
50
0
200
276
807
20
200
200
0
1,600
0
400
0
300
0
8,971
18,176
3,418

600
0
767
0
0
0
3,154
1,672
46
29
100
10
600
48
50
0
200
359
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
20,382
8,323

600
0
918
40
0
0
3,154
1,672
55
35
100
10
600
48
50
0
200
431
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
20,660
13,836

600
0
1,166
40
0
0
3,154
1,672
69
44
100
10
600
48
50
0
200
539
1,056
20
200
200
0
1,600
0
400
0
300
0
8,971
21,039
22,949

600
0
1,048
40
0
0
3,154
0
62
40
100
10
600
48
50
0
200
485
807
20
200
200
0
1,600
0
400
0
300
0
8,971
18,935
20,953

0
0
0
$9,419

0
0
0
$14,841

0
0
0
$18,525

0
0
0
$16,368

0
0
0
$18,217

0
0
0
$13,026

0
0
0
$5,435

0
0
0
$3,418

0
0
0
$8,323

0
0
0
$13,836

0
0
0
$22,949

0
0
0
$20,953

$9,419

$14,841

$33,366

$49,734

$34,585

$47,611

$53,046

$56,464

$11,741

$25,577

$48,526

$69,479

Revenue:
Gross Sales
Less: Sales Returns and Allowances
Net Sales

Cost of Goods Sold:

Beginning Inventory
Add:
Purchases
Freight-in
Direct Labor
Indirect Expenses
Less:
Ending Inventory
Cost of Goods Sold
Gross Profit (Loss)

Expenses:
Advertising
Amortization
Bad Debts
Bank Charges
Charitable Contributions
Commissions
Computer Leases
Contract Labor
Credit Card Fees
Delivery Expenses
Depreciation
Dues and Subscriptions
Insurance
Interest
Maintenance
Miscellaneous
Office Expenses
Operating Supplies
Payroll Taxes
Permits and Licenses
Postage
Professional Fees
Property Taxes
Rent
Repairs
Telephone
Travel
Utilities
Vehicle Expenses
Wages
Total Expenses
Net Operating Income

Other Income:
Gain (Loss) on Sale of Assets
Interest Income
Total Other Income

Net Income (Loss)

Cumulative Net Income (Loss)

Note 1. Revenue: During 1997, gross revenues are expected to increase by 20%. Based on discussions with software vendors and on prior experience, new computer training firms can expect
student revenues to increase by 10% to 20% every month. Based on this estimate, revenue increases will fluctuate by month to coincide with normal monthly fluctuations.
Note 2. Contract Labor and Wages: Contract labor and wages will increase by 10% in 1997 to account for inflation and performance incentives.
Note 3. Revenue: On May 1, 1997, CDS will begin offering training on the basics of building and maintaining a web site on the Internet. This is expected to increase revenues by 20%.

Projected Revenues - 2000

$40,000

Monthly Revenue

$35,000
$30,000
$25,000
$20,000
$15,000
$10,000
$5,000
$0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Projected Revenues - 2001

$50,000

$45,000

Monthly Revenue

$40,000
$35,000

$30,000
$25,000

$20,000
$15,000

$10,000
$5,000
$0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Computing Development Strategies

Enrollment Revenue Projections
2000
NUMBER OF:
new students
previous students
INCOME FROM:
new students taking 1 class
previous students taking package
previous students taking 1 class
previous students taking package

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

75

86
22

95
24

95
24

91
23

78
20

59
15

54
14

71
18

85
21

108
27

97
24

994
230

$6,750
$14,250

$21,000

$7,740
$16,340
$5,719
$1,161
$30,960

$8,550
$18,050
$6,318
$1,283
$34,200

$8,550
$18,050
$6,318
$1,283
$34,200

$8,190
$17,290
$6,052
$1,229
$32,760

$7,020
$14,820
$5,187
$1,053
$28,080

$5,310
$11,210
$3,924
$797
$21,240

$4,860
$10,260
$3,591
$729
$19,440

$6,390
$13,490
$4,722
$959
$25,560

$7,650
$16,150
$5,653
$1,148
$30,600

$9,720
$20,520
$7,182
$1,458
$38,880

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

95
24

108
27

120
30

120
30

115
29

98
25

74
19

68
17

89
22

107
27

136
34

122
31

1252
313

$8,505
$17,955
$6,284
$1,276
$34,020

$9,752
$20,588
$7,206
$1,463
$39,010

$10,773
$22,743
$7,960
$1,616
$43,092

$10,773
$22,743
$7,960
$1,616
$43,092

$10,319
$21,785
$7,625
$1,548
$41,278

$8,845
$18,673
$6,536
$1,327
$35,381

$6,691
$14,125
$4,944
$1,004
$26,762

$6,124
$12,928
$4,525
$919
$24,494

$8,051
$16,997
$5,949
$1,208
$32,206

$9,639
$20,349
$7,122
$1,446
$38,556

$12,247
$25,855
$9,049
$1,837
$48,989

$8,730
$18,430
$6,451
$1,310
$34,920 $351,840

2001
NUMBER OF:
new students
previous students
INCOME FROM:
new students taking 1 class
previous students taking package
previous students taking 1 class
previous students taking package

$11,000
$23,222
$8,128
$1,650
$43,999 $450,878

Computing Development Strategies

Cash Flow Budget Worksheet - 2000
January
Beginning Cash Balance
Cash Inflows (Income):
Accts. Rec. Collections
Loan Proceeds
Sales & Receipts
Other:

February
($585)

March
$8,970

April
$21,809

May
$34,802

June
$48,380

July
$57,755

August
$60,692

September
$61,745

October
$66,276

November
$75,514

December
$92,130

0
6,000
19,950

998

1,470

1,624

1,624

1,556

1,334

1,009

923

1,214

1,454

1,847

29,412

32,490

32,490

31,122

26,676

20,178

18,468

24,282

29,070

36,936

33,174

Total Cash Inflows

Available Cash Balance
Cash Outflows (Expenses):
Advertising
Bank Service Charges
Credit Card Fees
Delivery
Health Insurance
Insurance
Interest
Office
Payroll
Payroll Taxes
Professional Fees
Rent or Lease
Subscriptions & Dues
Supplies
Taxes & Licenses
Utilities & Telephone
Workbook Amortization
Workbook Production
Other:
Computer Leases
Maintenance

$25,950
$25,950

$30,410
$29,825

$33,960
$42,930

$34,114
$55,923

$32,746
$67,548

$28,232
$76,612

$21,512
$79,267

$19,477
$80,169

$25,205
$86,950

$30,284
$96,560

$38,390
$113,904

$35,021
$127,151

300
40
50
30
400
200
48
200
9,675
960
200
1,500
10
600
20
700
1,200
1,750

300
40
50
30
400
200
48
200
9,675
960
200
1,500
10
660
20
700
1,200
1,010

300
40
50
30
400
200
48
200
9,675
960
200
1,500
10
706
20
700
1,200
1,230

300
40
50
30
400
200
48
200
9,675
960
200
1,500
10
706
20
700
1,200
1,230

300
40
50
30
400
200
48
200
8,154
734
200
1,500
10
600
20
700
1,200
1,130

300
40
50
30
400
200
48
200
8,154
734
200
1,500
10
609
20
700
1,200
810

600
40
50
30
400
200
48
200
8,154
734
200
1,500
10
507
20
700
1,200
330

600
40
50
30
400
200
48
200
8,154
734
200
1,500
10
476
20
700
1,200
210

600
40
50
30
400
200
48
200
9,675
960
200
1,500
10
559
20
700
1,200
630

600
40
50
30
400
200
48
200
9,675
960
200
1,500
10
631
20
700
1,200
930

600
40
50
30
400
200
48
200
9,675
960
200
1,500
10
739
20
700
1,200
1,550

600
40
50
30
400
200
48
200
8,154
734
200
1,500
10
685
20
700
1,200
1,270

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

3,154
20

Subtotal
Other Cash Out Flows:
Capital Purchases
Loan Principal
Owner's Draw
Other:

$21,057

$20,377

$20,643

$20,643

$18,690

$18,379

$18,097

$17,946

$20,196

$20,568

$21,296

$19,215

5,000
478

478

478

478

478

478

478

478

478

478

478

478

Subtotal
Total Cash Outflows
Ending Cash Balance

$5,478
$26,535
($585)

$478
$20,855
$8,970

$478
$21,121
$21,809

$478
$21,121
$34,802

$478
$19,168
$48,380

$478
$18,857
$57,755

$478
$18,575
$60,692

$478
$18,424
$61,745

$478
$20,674
$66,276

$478
$21,046
$75,514

$478
$21,774
$92,130

$478
$19,693
$107,458

Note 1. Accounts Receivable Collection: This assumes that only 5% of all sales are made on account. Also, only 5% of these credit sales are uncollectible.
All sales to non-corporate clients with less than 20 employees will be required to be paid in cash prior to taking the class.
Note 2. Loan Proceeds: On January 12, 1996, CDS obtained a $6,000 loan from State Loan and Trust. This loan is to be repaid over 12 months at a 9.5% interest rate.

Total

15,053
6,000
334,248
0
0
0
$355,301

5,400
480
600
360
4,800
2,400
576
2,400
108,495
10,390
2,400
18,000
120
7,478
240
8,400
14,400
12,080
0
37,848
240
0
$237,107
5,000
5,736
0
0
0
$10,736
$247,843

Computing Development Strategies

Cash Flow Budget Worksheet - 2001
January

February
$12,809

March
$30,875

April
$52,690

May
$74,579

June
$95,961

July
$112,205

August
$120,784

1,659

1,616

1,853

2,047

2,047

1,960

1,680

1,413

1,163

1,529

1,831

1,847

32,319

37,059

40,937

40,937

39,213

33,611

25,424

23,269

30,595

36,628

46,539

41,799

Total Cash Inflows

Available Cash Balance
Cash Outflows (Expenses):
Advertising
Bank Service Charges
Credit Card Fees
Delivery
Health Insurance
Insurance
Interest
Miscellaneous
Office
Payroll
Payroll Taxes
Professional Fees
Rent or Lease
Subscriptions & Dues
Supplies
Taxes & Licenses
Utilities & Telephone
Workbook Production
Other:
Computer Leases
Maintenance

$33,978
$33,978

$38,675
$51,484

$42,790
$73,665

$42,984
$95,674

$41,260
$115,839

$35,571
$131,532

$27,104
$139,309

$24,682
$145,466

$31,758
$158,890

$38,157
$176,509

$48,370
$203,729

$43,646
$225,177

600
40
50
80
400
200
0

600
40
50
80
400
200
0

600
40
50
80
400
200
0

600
40
50
80
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

600
40
50
130
400
200
0

200
10,475
450
200
1,600
10
600
20
1,200
1,840

200
10,475
450
200
1,600
10
660
20
1,200
1,220

200
10,475
450
200
1,600
10
706
20
1,200
1,540

200
10,475
450
200
1,600
10
706
20
1,200
1,660

200
8,954
450
200
1,600
10
600
20
1,200
2,020

200
8,954
450
200
1,600
10
609
20
1,200
1,460

200
8,954
450
200
1,600
10
507
20
1,200
760

200
8,954
450
200
1,600
10
476
20
1,200
600

200
10,475
450
200
1,600
10
559
20
1,200
1,200

200
10,475
450
200
1,600
10
631
20
1,200
1,740

200
10,475
450
200
1,600
10
739
20
1,200
2,680

200
8,954
450
200
1,600
10
685
20
1,200
1,791

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

3,154
50

Subtotal
Other Cash Out Flows:
Capital Purchases
Loan Principal
Owner's Draw
Other:

$21,169

$20,609

$20,975

$21,095

$19,878

$19,327

$18,525

$18,334

$20,538

$21,150

$22,198

$19,734

Subtotal
Total Cash Outflows
Ending Cash Balance

$0
$21,169
$12,809

$0
$20,609
$30,875

$0
$20,975
$52,690

$0
$21,095
$74,579

$0
$19,878
$95,961

$0
$19,327
$112,205

$0
$18,525
$120,784

$0
$18,334
$127,132

$0
$20,538
$138,352

$0
$21,150
$155,359

$0
$22,198
$181,531

$0
$19,734
$205,443

Beginning Cash Balance

Cash Inflows (Income):
Accts. Rec. Collections
Loan Proceeds
Sales & Receipts
Other:

September
$127,132

October
$138,352

November
$155,359

December
$181,531

Total

18,986
0
428,330
0
0
0
$447,316

7,200
480
600
1,360
4,800
2,400
0
0
2,400
118,095
5,400
2,400
19,200
120
7,478
240
14,400
18,511
0
37,848
600
0
$243,532
0
0
0
0
0
$0
$243,532