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Department
Business Administration
Course
Business Administration 2257
Professor
Jaclyn Cairns
Semester
Winter

Description
Exhibit 1 INCOME STATEMENT For the year ending December 31, 2004 Net sales $ 533,334 Cost of goods sold 266,667 Gross margin $ 266,667 Operating expenses: Wages 91,429 Interest 499 Land and building rental 7,895 Repairs and maintenance 831 Utilities 4,831 Cash register rental 1,680 Amortization 4,375 Advertising 44,226 Trade show 2,625 Planting instructions 2,100 Credit card charges 7,460 General and administration 16,667 184,618 Net income $ 82,049 Assumptions Mar Apr May Growth 106.0% Sales ($) $ 565,334 $ - $ 113,067 $ 226,134 Sales (%) 0.0% 20.0% 40.0% Cash Inflows: Cash sales $ - $ 33,920 $ 67,840 Credit card sales $ - $ 79,147 $ 158,294 Total Cash Inflows $ - $ 113,067 $ 226,134 Cash Outflows: Credit card charges 2.0% $ 1,583 $ 3,166 Purchases 50.0% Buy-99% Wages
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