cutive Perfect But Look Can Be”. This is

cutive SummaryTrend Changers is a full-service beauty salon dedicated to persistently providing high customer satisfaction by slant excellent service, high quality products, and give an enjoyable atmosphere at an acceptable price. We will also maintain a friendly, fair, corporative and creative work environment, which respects diversity, ideas, and hard work.Our Mission: The mission of Trend Changers is to supply high rated products and services that will enhance the physical appearance of our clients and provide mental relaxation.Our Moto:”Life Is Not Perfect But Look Can Be”.This is the right time to start a new venture.

Patiently searching for the perfect location and finally found it after six months. According to he demand of the public , as well as the ambitions to start own salon, and the procurement of highly professional and qualified beauticians to support this salon, has made this business one of great potential.Our genius team has created a large client following through hard work and dedication. We and our talented team of beauticians, has makes this venture an extremely successful one. To achieve our objectives, Trend Changers is probing for additional loan financing. This loan will be return from the cash flow from the business.

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1.1 Keys to SuccessThe keys to success in our business are: • Location: regulated an fluently accessible location for customers. • Environment: providing an furnishing environment to giving relaxing and professional service. • Convenience: offering clients a broad range of services in one setting, and spin out business hours. • Reputation: reputation of the owner and other “beauticians” as providing superior personal service. Company Summary• Trend changers will, at dawning of operations, sell a far-range of beauty services and products. We will provide high quality hair, nail, and skin services, along with top lines of beauty products.

. • The salon will be located in a emporium mall at 1234 Mass Road, MyTown. The salon will utilize 1,540 square feet.

The location is strategically situated on one of the busiest streets in MyTown. It is a high profile area, with easy access from all parts of town. • 2.1 Start-up SummaryAfter several months searching to purchase the salon, we decided to start a salon from the ground up. For the design, furnishing improvements, and salon equipments the start-up capital will be used.START-UP REQUIREMENTSStart-up Expenses Rent deposit $1,817 Other $0 TOTAL START-UP EXPENSES $1,817 Start-up Assets Cash Required $500 Other Current Assets $600 Long-term Assets $59,500 TOTAL ASSETS $60,600 Total Requirements $62,417 START-UP FUNDINGStart-up Expenses to Fund $1,817 Start-up Assets to Fund $60,600 TOTAL FUNDING REQUIRED $62,417 Assets Non-cash Assets from Start-up $60,100 Cash Requirements from Start-up $500 Additional Cash Raised $0 Cash Balance on Starting Date $500 Total Assets $60,600 Liabilities and Capital Liabilities Current Borrowing $0 Long-term Liabilities $61,917 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $61,917 Capital Planned Investment Owner $500 Investor $0 Additional Investment Requirement $0 Total Planned Investment $500 Loss at Start-up (Start-up Expenses) ($1,817)Total Capital ($1,317Total Capital and Liabilities $60,600 Total Funding $62,417 • Trend Changers wish to well- set itself from their compitetior that may offers only one or two types of services.With the help of ou customers, we have realized, from talking with them, that they desire all of the services that we are offering, but they remain frustrated because they get their hair treatment at one place, and nails treatment from another place.

That’s why the focus of Trend Changers is to provide hair services, nail services and many other services in one location. There are a number of salons like ours, but they are mostly in the very high income parts of MyTown and other areas. We wish to offer a normal range for Products and ServicesTrend changers is considered an upscale full-service beauty salon. We will offer a wide range of services that include: • Hair: cuts, relaxers, perms, colors, shampoo, conditioning, curling, reconstructing, weaving, waving. Nails: manicures, pedicures, polish, sculptured nails. • Skin Care: European facials, body waxing, massage. • Strategy and Implementation Summary• Our skilled team provide, good customer service, and creating a pleasant environment for our customers will be important for our business plan implementation..

4.1 Competitive Edge• • those clients who can’t afford those high-end luxury salons. • Our business semblance will be take time out where clients can feel so cooly and relaxing.

Soft drinks will be offered to clients as they enter for service. Televisions and wifi will be located in the waiting and hair-drying area area.• 4.2 Marketing StrategyOur marketing strategy is to satisfy our customers because they are our market tools.

When a clients visit our salon and get high level services in low rate they talk about us in public. Most of our clients will be referrals from existing clients.• Advertising campaigns are not foreseen. Our research has shows that the words of mouth are the best advertising for this type of business. We ask our clients for referrals, and offer them reward like discount or free services depending on the number of clients they bring. We will also offer discounts to the new clients. There is also a lot of other rewards.

4.3 Sales ForecastThe following chart shows or sales. We expect a increase in income over the next three years, according to the reputation of the salon. Second year revenues also anticipate the addition of one new stylist. Note that we list no direct cost of sales here for services, only for products, since our service costs are more accurately tracked as regular monthly expenses for supplies in the Profit and Loss table SALES FORECAST YEAR 1 YEAR 2 YEAR 3Sales Owner $49,600 $57,040 $65,696 Stylist #1 $49,600 $57,040 $65,596 Barber #1 $16,800 $19,320 $22,218 Stylist #2 $22,800 $25,622 $29,465 Stylist #3 $0 $22,000 $24,000 Nails and massage $18,000 $20,000 $22,000 Product sales $9,600 $10,000 $11,000 TOTAL SALES $166,400 $211,022 $239,975 DIRECT COST OF SALES YEAR 1 YEAR 2 YEAR 3PRODUCT COSTS $4,320 $4,300 $4,400 OTHER $0 $0 $0 SUBTOTAL DIRECT COST OF SALES $4,320 $4,300 $4,4004.4 MilestonesSample Milestones topic text.The milestones table and chart show the specific detail about actual program activities that should be taking place during the year.

Each one has its manager, starting date, ending date, and budget. During the year we will be keeping track of implementation against plan, with reports on the timely completion of these activities as planned. MILESTONESMilestone Start Date End Date Budget Manager DepartmentSample Milestones 1/4/2008 1/4/2008 $0 ABC DepartmentFinish Business Plan 8/20/2010 9/19/2010 $100 Dude BossAcquire Financing 8/30/2010 10/19/2010 $200 Dudette LegumersAh HA! Event 9/9/2010 9/14/2010 $60 Marianne BossesAh Merde Alors! Event 10/9/2010 10/14/2010 $250 Marionette Bouc émissaireGrande Opening 10/19/2010 10/24/2010 $500 Gloworm NobsMarketing Program Starts 9/19/2010 10/14/2010 $1,000 Glower MarketeersPlan vs. Actual Review 2/14/2011 2/21/2011 $0 Galore AllesFirst Break-even Month 6/18/2011 7/18/2011 $0 Bouys SalersFirst Break-even Month 6/18/2011 7/18/2011 $0 Bouys SalersHire Employees 5/17/2011 6/16/2011 $150 Gulls HRMUpgrade Business Plan Pro 8/5/2011 8/7/2011 $100 Brass BossiesTotals $2,360 Management SummaryTrend Changers are enganged to formulated and managed a creative and innovative fashion to generate very high levels of customer satisfaction, and also create a working climate for the emloyees to a high degree of personal development and economic satisfaction for employees. Training classes on regular basis help to improve employee product knowledge and skills .As the business grows, the company will consider offering an employee benefit package to include health and vacation benefits for everyone.5.1 Personnel PlanThe personnel plan calls for a receptionist who will greet customers and receive payments for services and products.

There will be five hair stylists, one barber, one nail technician, one facial list, and a massage therapist. Receptionist will deal the customer and tell them about discounts and other others than make the contract. The hiring of a shampoo technician is future plans as to the business expands.In the first year, assumptions are that there will only be three hair stylists, a barber, and part time nail, facial, and massage technician until the business can build a reputation that will attract others to work there. PERSONNEL PLAN YEAR 1 YEAR 2 YEAR 3Owner (Stylist) $24,000 $25,000 $26,000 Receptionist $14,400 $15,120 $15,876 Shampoo Tech $8,000 $12,400 $13,000 TOTAL PEOPLE 3 3 3 Total Payroll $46,400 $52,520 $54,876 6.

1 Important AssumptionsThe financials that are enclosed have a number of assumptions:Revenues will grow at an annual rate of 15%, increasing 20% in November and December due to a historical jump in revenues at this time of year. We anticipate this increase to stay steady throughout the following year to account for the normal flow of new clients coming into the salon. Estimates for sales revenue and growth are intentionally low, while anticipated expenses are exaggerated to the high side to illustrate a worst case scenario. We did not use cost of goods sold in our calculations of net service sales, but included all related recurring expenses, such as payroll and supplies, in the operating expenses area of the profit and loss table. The only direct costs in the sales forecast are for projected product sales. Product sales are a minimal part of our market.

We are not quite sure how much revenue will be derived from products, so we took a low-ball approach and estimated sales of $800 a month. Also in the sales projections table are services such as nails and massages. We are not quite sure how much revenue these two services will generate. We are certain that in time these services will be a large part of our revenue, but to err on the conservative side, we estimate revenues from these services to be only $1,500 a month for the first year.GENERAL ASSUMPTIONS YEAR 1 YEAR 2 YEAR 3Plan Month 1 2 3Current Interest Rate 10.

00% 10.00% 10.00% Long-term Interest Rate 10.00% 10.00% 10.

00% Tax Rate 30.00% 30.00% 30.00% Other 0 0 0 6.2 Projected Cash FlowWe expect to manage cash flow over the next three years simply by the growth of the cash flow of the business. The business will generate more than enough cash flow to cover all of its expenses. PRO FORMA CASH FLOW YEAR 1 YEAR 2 YEAR 3Cash Received Cash from Operations Cash Sales $166,400 $211,022 $239,975 SUBTOTAL CASH FROM OPERATIONS $166,400 $211,022 $239,975 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $0 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $166,400 $211,022 $239,975 Expenditures Year 1 Year 2 Year 3Expenditures from Operations Cash Spending $46,400 $52,520 $54,876 Bill Payments $99,540 $128,730 $147,285 Subtotal Spent on Operations $145,940 $181,250 $202,161 Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 Principal Repayment of Current Borrowing $0 $0 $0 Other Liabilities Principal Repayment $0 $0 $0 Long-term Liabilities Principal Repayment $12,000 $12,000 $12,000 Purchase Other Current Assets $0 $0 $0 Purchase Long-term Assets $0 $0 $0 Dividends $0 $0 $0 Subtotal Cash Spent $157,940 $193,250 $214,161 Net Cash Flow $8,460 $17,772 $25,814 Cash Balance $8,960 $26,733 $52,547 6.

3 Break-even AnalysisThe break-even analysis shows that Trend Changers has good fixed cost balance and enough sales to keep healthy turnover. This calculation is focused on service sales, and excludes costs related to product sales. Our conservative forecast shows the salon just passing the break-even point throughout most of the first year, but we expect actual sales to be higher. BREAK-EVEN ANALYSISMonthly Revenue Break-even $12,995 Assumptions: Average Percent Variable Cost 3% Estimated Monthly Fixed Cost $12,657 6.4 Projected Profit and LossThe following table shows our very timid profit and loss for the next three years. The table includes the payments for all independently contracted stylists and technicians, as well for all regularly occurring supply expenses associated with service sales. PRO FORMA PROFIT AND LOSS YEAR 1 YEAR 2 YEAR 3Sales $166,400 $211,022 $239,975 Direct Cost of Sales $4,320 $4,300 $4,400 Other Costs of Sales $0 $0 $0 TOTAL COST OF SALES $4,320 $4,300 $4,400 Gross Margin $162,080 $206,722 $235,575 Gross Margin % 97.40% 97.

96% 98.17% Expenses Payroll $46,400 $52,520 $54,876 Marketing/Promotion $22,800 $24,000 $26,000 Depreciation $8,146 $8,146 $8,146 Rent $22,740 $22,740 $22,740 Utilities $4,200 $4,200 $4,200 Insurance $1,200 $1,200 $1,200 Payroll Taxes $0 $0 $0 Independently contracted stylists $40,400 $55,000 $69,000 Supplies $6,000 $6,000 $6,000 Other $0 $0 $0 Total Operating Expenses $151,886 $173,806 $192,162 Profit Before Interest and Taxes $10,194 $32,916 $43,413 EBITDA $18,340 $41,062 $51,559 Interest Expense $5,542 $4,392 $3,192 Taxes Incurred $1,396 $8,557 $12,066 Net Profit $3,257 $19,967 $28,155 Net Profit/Sales 1.96% 9.46% 11.73% 6.5 Projected Balance SheetAs shown in the balance sheet, we expect a healthy growth in net worth.

PRO FORMA BALANCE SHEET YEAR 1 YEAR 2 YEAR 3Assets Current Assets Cash $8,960 $26,733 $52,547 Other Current Assets $600 $600 $600 TOTAL CURRENT ASSETS $9,560 $27,333 $53,147 Long-term Assets Long-term Assets $59,500 $59,500 $59,500 Accumulated Depreciation $8,146 $16,292 $24,438 Total Long-term Assets $51,354 $43,208 $35,062 Total Assets $60,914 $70,541 $88,209 Liabilities and Capital Year 1 Year 2 Year 3Current Liabilities Accounts Payable $9,057 $10,717 $12,230 Current Borrowing $0 $0 $0 Other Current Liabilities $0 $0 $0 Subtotal Current Liabilities $9,057 $10,717 $12,230 Long-term Liabilities $49,917 $37,917 $25,917 Total Liabilities $58,974 $48,634 $38,147 Paid-in Capital $500 $500 $500 Retained Earnings ($1,817) $1,440 $21,407 Earnings $3,257 $19,967 $28,155 Total Capital $1,940 $21,907 $50,062 Total Liabilities and Capital $60,914 $70,541 $88,209 Net Worth $1,940 $21,907 $50,062 6.6 Business RatiosBusiness ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) Index code 7231, Beauty Shops, are shown for comparison.RATIO ANALYSIS YEAR 1 YEAR 2 YEAR 3 INDUSTRY PROFILESales Growth n.

a. 26.82% 13.72% 7.35% Percent of Total Assets Other Current Assets 0.

98% 0.85% 0.68% 50.11% Total Current Assets 15.69% 38.

75% 60.25% 64.74% Long-term Assets 84.31% 61.25% 39.75% 35.

26%Total Assets 100.00% 100.00% 100.00% 100.00% Current Liabilities 14.

87% 15.19% 13.86% 21.71% Long-term Liabilities 81.95% 53.75% 29.

38% 25.39% Total Liabilities 96.82% 68.94% 43.25% 47.10% Net Worth 3.18% 31.

06% 56.75% 52.90% Percent of Sales Sales 100.00% 100.00% 100.

00% 100.00% Gross Margin 97.40% 97.

96% 98.17% 100.00% Selling, General & Administrative Expenses 95.45% 88.50% 86.

43% 67.01% Advertising Expenses 4.90% 3.86% 3.

39% 2.18% Profit Before Interest and Taxes 6.13% 15.60% 18.09% 4.

59%Main Ratios Current 1.06 2.55 4.35 1.97 Quick 1.06 2.

55 4.35 1.46 Total Debt to Total Assets 96.82% 68.

94% 43.25% 53.38% Pre-tax Return on Net Worth 239.86% 130.

21% 80.34% 8.92% Pre-tax Return on Assets 7.

64% 40.44% 45.60% 19.14% Additional Ratios Year 1 Year 2 Year 3 Net Profit Margin 1.96% 9.46% 11.

73% n.aReturn on Equity 167.90% 91.15% 56.24% n.aActivity Ratios Accounts Payable Turnover 11.99 12.

17 12.17 n.aPayment Days 27 28 28 n.aTotal Asset Turnover 2.

73 2.99 2.72 n.aDebt Ratios Debt to Net Worth 30.41 2.22 0.76 n.

aCurrent Liab. to Liab. 0.15 0.22 0.32 n.aLiquidity Ratios Net Working Capital $503 $16,616 $40,917 n.aInterest Coverage 1.84 7.50 13.60 n.aAdditional Ratios Assets to Sales 0.37 0.33 0.37 n.aCurrent Debt/Total Assets 15% 15% 14% n.aAcid Test 1.06 2.55 4.35 n.aSales/Net Worth 85.79 9.63 4.79 n.aDividend Payout 0.00 0.00 0.00 n.aAppendixSALES FORECAST MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 MONTH 7 MONTH 8 MONTH 9 MONTH 10 MONTH 11 MONTH 12Sales Owner 0% $3,600 $3,600 $3,600 $3,600 $4,400 $4,400 $4,400 $4,400 $4,400 $4,400 $4,400 $4,400 Stylist #1 0% $3,600 $3,600 $3,600 $3,600 $4,400 $4,400 $4,400 $4,400 $4,400 $4,400 $4,400 $4,400 Barber #1 0% $1,200 $1,200 $1,200 $1,200 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 Stylist #2 0% $1,700 $1,700 $1,700 $1,700 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 Stylist #3 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Nails and massage 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 Product sales 0% $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 TOTAL SALES $12,400 $12,400 $12,400 $12,400 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Product Costs $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Subtotal Direct Cost of Sales $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360PERSONNEL PLAN MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 MONTH 7 MONTH 8 MONTH 9 MONTH 10 MONTH 11 MONTH 12Owner (Stylist) 0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 Receptionist 0% $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 Shampoo Tech 0% $0 $0 $0 $0 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 TOTAL PEOPLE 2 2 2 2 3 3 3 3 3 3 3 3 Total Payroll $3,200 $3,200 $3,200 $3,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 PRO FORMA PROFIT AND LOSS MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 MONTH 7 MONTH 8 MONTH 9 MONTH 10 MONTH 11 MONTH 12Sales $12,400 $12,400 $12,400 $12,400 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 Direct Cost of Sales $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL COST OF SALES $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 $360 Gross Margin $12,040 $12,040 $12,040 $12,040 $14,240 $14,240 $14,240 $14,240 $14,240 $14,240 $14,240 $14,240 Gross Margin % 97.10% 97.10% 97.10% 97.10% 97.53% 97.53% 97.53% 97.53% 97.53% 97.53% 97.53% 97.53% Expenses Payroll $3,200 $3,200 $3,200 $3,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 Marketing/Promotion $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 $1,900 Depreciation $633 $683 $683 $683 $683 $683 $683 $683 $683 $683 $683 $683 Rent $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 $1,895 Utilities $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 Insurance $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Independently contracted stylists $2,700 $2,700 $2,700 $2,700 $3,700 $3,700 $3,700 $3,700 $3,700 $3,700 $3,700 $3,700 Supplies 15% $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Operating Expenses $11,278 $11,328 $11,328 $11,328 $13,328 $13,328 $13,328 $13,328 $13,328 $13,328 $13,328 $13,328 Profit Before Interest and Taxes $762 $712 $712 $712 $912 $912 $912 $912 $912 $912 $912 $912 EBITDA $1,395 $1,395 $1,395 $1,395 $1,595 $1,595 $1,595 $1,595 $1,595 $1,595 $1,595 $1,595 Interest Expense $508 $499 $491 $483 $474 $466 $458 $449 $441 $433 $424 $416 Taxes Incurred $76 $64 $66 $69 $131 $134 $136 $139 $141 $144 $146 $149 Net Profit $178 $149 $155 $161 $306 $312 $318 $324 $330 $336 $341 $347 Net Profit/Sales 1.44% 1.20% 1.25% 1.29% 2.10% 2.14% 2.18% 2.22% 2.26% 2.30% 2.34% 2.38% PRO FORMA CASH FLOW MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 MONTH 7 MONTH 8 MONTH 9 MONTH 10 MONTH 11 MONTH 12Cash Received Cash from Operations Cash Sales $12,400 $12,400 $12,400 $12,400 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 SUBTOTAL CASH FROM OPERATIONS $12,400 $12,400 $12,400 $12,400 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 Additional Cash Received Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 SUBTOTAL CASH RECEIVED $12,400 $12,400 $12,400 $12,400 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 $14,600 EXPENDITURES MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 MONTH 7 MONTH 8 MONTH 9 MONTH 10 MONTH 11 MONTH 12EXPENDITURES FROM OPERATIONS CASH SPENDING $3,200 $3,200 $3,200 $3,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 $4,200 BILL PAYMENTS $280 $8,388 $8,368 $8,362 $8,392 $9,410 $9,405 $9,399 $9,393 $9,387 $9,381 $9,375 SUBTOTAL SPENT ON OPERATIONS $3,480 $11,588 $11,568 $11,562 $12,592 $13,610 $13,605 $13,599 $13,593 $13,587 $13,581 $13,575 ADDITIONAL CASH SPENT SALES TAX, VAT, HST/GST PAID OUT $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 PRINCIPAL REPAYMENT OF CURRENT BORROWING $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 OTHER LIABILITIES PRINCIPAL REPAYMENT $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 LONG-TERM LIABILITIES PRINCIPAL REPAYMENT $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 PURCHASE OTHER CURRENT ASSETS $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 PURCHASE LONG-TERM ASSETS $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 DIVIDENDS $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 SUBTOTAL CASH SPENT $4,480 $12,588 $12,568 $12,562 $13,592 $14,610 $14,605 $14,599 $14,593 $14,587 $14,581 $14,575 NET CASH FLOW $7,920 ($188) ($168) ($162) $1,008 ($10) ($5) $1 $7 $13 $19 $25 CASH BALANCE $8,420 $8,232 $8,064 $7,902 $8,911 $8,900 $8,896 $8,897 $8,904 $8,917 $8,935 $8,960 PRO FORMA BALANCE SHEET MONTH 1 MONTH 2 MONTH 3 MONTH 4 MONTH 5 MONTH 6 MONTH 7 MONTH 8 MONTH 9 MONTH 10 MONTH 11 MONTH 12Assets Starting Balances Current Assets Cash $500 $8,420 $8,232 $8,064 $7,902 $8,911 $8,900 $8,896 $8,897 $8,904 $8,917 $8,935 $8,960 Other Current Assets $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 TOTAL CURRENT ASSETS $1,100 $9,020 $8,832 $8,664 $8,502 $9,511 $9,500 $9,496 $9,497 $9,504 $9,517 $9,535 $9,560 Long-term Assets Long-term Assets $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 $59,500 Accumulated Depreciation $0 $633 $1,316 $1,999 $2,682 $3,365 $4,048 $4,731 $5,414 $6,097 $6,780 $7,463 $8,146 TOTAL LONG-TERM ASSETS $59,500 $58,867 $58,184 $57,501 $56,818 $56,135 $55,452 $54,769 $54,086 $53,403 $52,720 $52,037 $51,354 TOTAL ASSETS $60,600 $67,887 $67,016 $66,165 $65,320 $65,646 $64,952 $64,265 $63,583 $62,907 $62,237 $61,572 $60,914 Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Current Liabilities Accounts Payable $0 $8,109 $8,089 $8,084 $8,078 $9,097 $9,091 $9,086 $9,080 $9,074 $9,069 $9,063 $9,057 Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 SUBTOTAL CURRENT LIABILITIES $0 $8,109 $8,089 $8,084 $8,078 $9,097 $9,091 $9,086 $9,080 $9,074 $9,069 $9,063 $9,057 Long-term Liabilities $61,917 $60,917 $59,917 $58,917 $57,917 $56,917 $55,917 $54,917 $53,917 $52,917 $51,917 $50,917 $49,917 TOTAL LIABILITIES $61,917 $69,026 $68,006 $67,001 $65,995 $66,014 $65,008 $64,003 $62,997 $61,991 $60,986 $59,980 $58,974 Paid-in Capital $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 Retained Earnings ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817)Earnings $0 $178 $327 $482 $642 $949 $1,261 $1,579 $1,903 $2,232 $2,568 $2,909 $3,257 TOTAL CAPITAL ($1,317) ($1,139) ($990) ($835) ($675) ($368) ($56) $262 $586 $915 $1,251 $1,592 $1,940 TOTAL LIABILITIES AND CAPITAL $60,600 $67,887 $67,016 $66,165 $65,320 $65,646 $64,952 $64,265 $63,583 $62,907 $62,237 $61,572 $60,914 Net Worth ($1,317) ($1,139) ($990) ($835) ($675) ($368) ($56) $262 $586 $915 $1,251 $1,592 $1,940 TOTAL LIABILITIES $61,917 $69,026 $68,006 $67,001 $65,995 $66,014 $65,008 $64,003 $62,997 $61,991 $60,986 $59,980 $58,974 Paid-in Capital $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 Retained Earnings ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817) ($1,817)Earnings $0 $178 $327 $482 $642 $949 $1,261 $1,579 $1,903 $2,232 $2,568 $2,909 $3,257 TOTAL CAPITAL ($1,317) ($1,139) ($990) ($835) ($675) ($368) ($56) $262 $586 $915 $1,251 $1,592 $1,940 TOTAL LIABILITIES AND CAPITAL $60,600 $67,887 $67,016 $66,165 $65,320 $65,646 $64,952 $64,265 $63,583 $62,907 $62,237 $61,572 $60,914 Net Worth ($1,317) ($1,139) ($990) ($835) ($675) ($368) ($56) $262 $586 $915 $1,251 $1,592 $1,940