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Statement of Comprehensive Income

Particulars Year 1 Year 2 Year 3


Sales 1,850,000 2,090,500 2,404,075
Less: Cost of Sales 703,460 794,910 914,147
Gross Profit 1,146,540 1,295,590 1,489,928
Less: Other 8,450 9,549 10,981
Expenses
Operating
Expense
Salaries and 144,000 162,720 187,128
Wages
Rent Expense 72,000 72,000 72,000
Advertising 14,400 16,272 18,713
Expense
Depreciation – 45,100 45,100 45,100
Office Equipment
Depreciation – 5,850 5,850 5,850
Furniture and
Fixture
Utilities Expenses 185,412 209,516 240,943
Maintenance of 20,000 22,600 25,990
Cameras and
Equipment
Offsite file 10,500 11,865 13,645
backups and
support
Software 8,560 9,673 11,124
upgrades
Insurance 12,000 12,000 12,000
Tax and Licensing 1,500 1,500 1,500
Office Supplies 10,600 11,978 13,775
Expense
Total Operating 529,922 581,074 647768
Expenses
Net Income 608,168 704,967 831,179
Before Tax
Less: Income Tax 211,490 249,354
(30%)
Net Income After 608,168 493,476 581,825
Tax
Utilities Monthly Annual Cost
Electric Bill 12,898 154,776
Water Bill 1,554 18,648
Telephone and Internet Bill 999 11,988
Total Expenses 15,451 185,412

Statement of Cashflows

Particulars Year 1 Year 2 Year 3


Cash Balance, Beg. 1,047,957 1,178,720
Add: Receipts
Partner’s Initial Capital 600,000
Investment
Net Sales Collection 1,850,000 2,090,500 2,404,075
Total 2,450,000 3,661,328 4,967,446
Less: Disbursements
Operating Expenses 529,922 581,074 647768

Purchase of Office 183,800


Equipment
Purchase of Furniture 10,850
and Fixture
Purchase of Office 10,600 11,978 13,775
Supplies
Salaries and Wages 144,000 162,720 187,128
Tax Expense 192,185 230,049
Partner’s Drawings 100,000 100,000
Total 879,172 1,047,957 1,178,720
Cash Balance, Ending 1,570,828 2,563,371 3,788,726

Statement of Financial Position

Particulars Year 1 Year 2 Year 3


ASSETS
Current Assets
Cash 1,570,828 2,563,371 3,788,726
Office Supplies 10,600 11,978 13,775

TOTAL CURRENT 1,518,428 2,575,349 3,802,501


ASSETS
Non- Current Assets
Purchase of Office 183,800 183,800 183,800
Equipment
Less: Accumulated 45,100 90,200 135,300
Depreciation
Purchase of Furniture 10,850 10,850
and Fixture
Less: Accumulated 5,850 10,850
Depreciation
TOTAL NON-CURRENT 143,700 93600 48,500
ASSESTS
TOTAL ASSETS 1,725,128 2,668,949 3,851,001
LIABILITIES AND
CAPITAL
Current Liabilities
Account Payable 1,402,532
Other Current 241,960 792,305
Liabilities
TOTAL CURRENT 241,960 792,305 1,402,532
LIABILITIES
Non-Current Liabilities
Loan Payable 175,000 175,000 175,000
TOTAL NON-CURRENT 175,000 175,000 175,000
LIABILITIES
TOTAL LIABILITIES 416,960 967,305 1,577,532
PARTNER’S EQUITY
Partner’s Equity
Partner’s Capital 700,000 1,308,168 1,701,644
Add: Net Income After 608,168 493,476 581,825
Tax
Less: Drawing 100,000 100,000
TOTAL PARTNER’S 1,308,168 1,701,644 2,273,469
EQUITY
TOTAL LIABILITIES AND 1,725,128 2,668,949 3,851,001
CAPITAL

Return on Investment

Particulars Year 1 Year 2 Year 3


Net Income 608,168 493,476 581,825
Partner’s Equity 1,308,168 1,701,644 2,273,469
Return on Investment 0.46 0.29 0.26