You are on page 1of 32

TAX rate

Impressions Clothing Co.


IBC Company C
Revenues:
Baseball T-Shirts
Baseball T-Shirts Sales Tax (6%)
Socks
Socks Sales Tax (6%)
T-shirt (Mens)
T-shirt (Mens) Sales Tax (6%)
T-shirt (Womens)
T-shirt (Womens) Sales Tax (6%)
Stickers
Stickers Sales Tax (6%)
Tarp Wallets
Tarp Wallets Sales Tax (6%)
Leather Wallets
Leather Wallets Sales Tax (6%)
Gloves
Gloves Sales Tax (6%)
Misc. Revenue
Misc. Sales Tax (6%)
Total Revenue
Total Sales Tax Collected
Total Revenue Net Sales Tax
Cost of Goods Sold:
Baseball T-Shirts
Socks
White T-shirts - Male
White T-shirts - Female
Stickers
Tarp Wallets
Leather Wallets
Gloves
Misc.
Paper
Ink
Total Cost of Goods Sold
Gross Profit
Expenses:
Labor Expense
Shipping Expense
Marketing Expense

0.06
Week 1 (End Fri, Oct 16)
Actual

Forecasted
$
$
$
$
$

$
$
$
$

98.23
6.27
-

$
$
$
$

98.23
6.27
###

104.50 $
6.27 $
98.23 $

###
104.50
6.27
98.23

46.92

$
$

$
$
46.92 $
57.58 $

225.00 $

###

6.84
1.80
55.56
48.94

###
36.10

R&D Expense
Broken Equipment
Depreciation Expense- Equipment
Misc. Expense
Operating Profit (EBIT)
Interest on Note Payable
Income Taxes
Net Profit

$
$
$
$
$
$
$
$

50.00
60.00
50.00
(327.42)
50.00
(113.23)
(264.19)

$
7.41
$
1,000.00
$
28.10
$
44.00
$ (1,072.94)
$
41.00
$
$ (1,113.94)

k 1 (End Fri, Oct 16)


Variance

Variance %

$
$
$
$
$

0%
0%

$
$
$
$

$
$

$
$

8.64
(8.64)

(188.90)

Week 2 (End Fri, Oct 23)


Forecasted
Actual
Variance

0%

$
$
$
$
$

362.37 $ 362.37
23.13 $
23.13
$
$
$
-

$
$
$
$
$

0%
0%
0%
0%

$
$
$
$

385.50
23.13
362.37

###
$ 385.50
$
23.13
$ 362.37

$
$
$
$

215.45

###

18%
-15%

$
$

0%

84%

215.45
170.05

$
12.50
$
6.46
$ 234.41 $
$ 151.09 $

375.00

$
$

74.28 $

(18.96)
(18.96)

300.72

$
$
$
$
$
$
$
$

(42.59)
1,000.00
(31.90)
(6.00)
(745.52)
(9.00)
113.23
(849.75)

85%
-100%
53%
12%
228%
18%
100%
322%

$
$
$
$
$
$
$
$

50.00
60.00
50.00
(364.95)
41.82
(406.77)

$
$
$
$
$
$

10.58
###
28.10
20.16
17.97
41.82

$
$
$
$
$
$
$
(23.85) $

39.42
31.90
29.84
382.92
382.92

Oct 23)

Week 3 (Ending Friday, Oct 29)


Forecasted
Actual
Variance
Variance %

Variance %
0%
0%

0%

0%
0%
0%
0%

371.50

23.00

15.00

409.50

$
$

188.50
6.00

$ 349.21 $
$
22.29 $
$
21.62 $
$
1.38 $
$
14.10 $
$
0.90 $

$ 409.50
$
24.57
$ 384.93

-9%
-11%

$
$

0%

80%

22.29
(22.29)
1.38
(1.38)
0.90
(0.90)

6%
6%
6%

0%

###
###
4.32

4.32

198.82
210.68

91.17

$
23.37
$
36.00
$ 258.19 $
$ 151.31 $

(59.37)
59.37

### $

### $

-30%
28%

0%

79%
0%
53%
60%
-105%
0%
0%
-94%

$
$
$
$
$
$
$
$

86.00
28.10
5.41
42.66
(37.25)

$
$
$
$

###
###
###
55.24
(49.83)
42.66

$
$
$
$
$
$
$
(92.49) $

(55.24)
55.24
0.00
55.24

0%
0%
1021%
0%
-148%

Week 4 (Ending Friday, Nov 6)


Forecasted
Actual
Variance
Variance %
$
$
$
$
$
$
$
$

640.50
38.43
45.00
2.70
171.00
10.26
-

$
$
$
$
$

10.00
0.60
918.49
51.39
867.10

$
$
$
$
$

$
$
$
$

324.72
19.70
109.62
58.41

$
$

109.62 $
$
$
622.07 $
296.42 $

$
$
$

6.00
152.41

$
$
$

602.07
###
42.30
###
160.74
###
82.72
###

$
$
$
$
$
$
$
$

38.43
2.70
10.26
(82.72)
(5.28)

6%
0%
6%
0%
6%
0%
#DIV/0!
#DIV/0!

4.70
0.30
949.50
56.97
892.53

$
$
$
$
$

5.30
0.30
(31.01)
(5.58)
(25.43)

53%
50%
3%
-11%
-3%

###
###
###
###

1.20
42.75
78.00
634.40
315.10

$
$
$
$

$
$
$
$
$

### $
### $
### $

108.42
(42.75)
(78.00)
(12.33)
(18.68)

0%
0%
0%
0%

99%
#DIV/0!
#DIV/0!
-2%
-6%

0%
0%

$
$
$
$
$
$
$
$

7.41
28.10
5.50
97.00
44.38
1.52
51.10

$
$
$
$

###
###
###
###
115.68
44.38
3.59
67.71

$
$
$
$
$
$
$
$

(18.68)
0.28
0.02
(18.98)

0%
0%
0%
0%
-19%
1%
1%
37%

Week 5 (Ending Firday, Nov 13)


Forecasted
Actual
Variance
Variance %
$
$
$
$

305.20
18.31
63.00
3.78

###
###
###
3.84

$
$
$
$

(0.06)

0%
0%
0%
-2%

(5.00)
(0.30)
(5.36)
(0.36)
(5.00)

#DIV/0!

Week 6
Forecasted
$
$
$
$
$
$

1,100.00
66.00
68.00
4.08
238.00
14.28

$
$
$
$
$
$
$
$
$
$
$
$
$

40.00
40.06
10.00
0.60
58.00
3.48
6.00
0.36
1,648.86
128.50
1,520.36

478.50
14.00
69.12
14.65
4.00
12.00
2.12
50.73
106.80
751.92
896.94

177.85

$
$
$

390.29
22.09
368.20

$
5.00 $
$
0.30 $
$ 395.65 $
$
22.45 $
$ 373.20 $

$
$

130.50
16.00

$ 132.27 $
$
15.37 $

(1.77)
0.63

-1%
4%

$
$
$
$
$

14.82
20.80
182.12
208.17

$
1.77 $
$
64.41 $
$ 135.60 $
$ 349.42 $
$
46.23 $

(1.77)
(49.59)
(114.80)
(167.30)
161.94

#DIV/0!
-335%
-552%
-92%
78%

$
$
$
$
$
$
$
$
$
$
$
$
$

48.48

### $

0%

$
$

1%
-2%
-1%

$
$
$
$
$
$
$

10.16
28.10
5.50 $
115.93 $
45.26 $
2.32 $
68.35 $

### $
###
6.34
(46.85)
45.27
(0.94)
(91.18)

$
$
$
$
$
$

(0.84)
162.78
(0.01)
3.26
159.53

0%

40.00

0%
-15%
140%
0%
140%
233%

$
$
$
$
$
$

28.10
650.99
650.99

Week 6
Actual
Variance
$

$
$

$ 1,100.00
$
66.00
$
68.00
$
4.08
$
238.00
$
14.28
$
$ ###
###
###
$0.60
###
$3.48
$6.00
$0.36
$
$
$ 1,648.86
$
128.50
$ 1,520.36
$
$
$
478.50
$
14.00
$
69.12
$
$
14.65
$
4.00
$
12.00
$
2.12
$
$
50.73
$
106.80
$
751.92
$
896.94
$
$
$
$
$
177.85

Variance %
100%
100%
100%
100%
100%
100%
#DIV/0!
#DIV/0!
100%
100%
100%
100%
100%
100%
100%
100%
#DIV/0!
#DIV/0!
100%
100%
100%
#DIV/0!
#DIV/0!
100%
100%
100%
#DIV/0!
100%
100%
100%
100%
#DIV/0!
100%
100%
100%
100%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
100%

Forecasted
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

189.42
11.37
26.96
1.62
30.45
1.83
32.00
1.92
10.00
0.60
40.00
2.40
21.00
1.26
370.82
20.99
349.83

$
$
$

189.42
26.96
30.45

$
$
$
$
$
$
$
$
$

11.76
4.00
8.00
7.42
23.94
50.40
352.35
18.47

$
$
$

50.00

Week 7
Actual
$

$
$

###
$

40.00

100%

25.00

$
$
$
$
$
$

$
$
$
$
$
$

28.10
650.99
650.99

100%
#DIV/0!
100%
#DIV/0!
#DIV/0!
100%

$
$
$
$
$
$

28.10
8.75
142.80
38.05
64.98
39.77

$
$
$
$
$
$

Week 7
Variance
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

189.42
11.37
26.96
1.62
30.45
1.83
32.00
1.92
10.00
0.60
40.00
2.40
21.00
1.26
370.82
20.99
349.83
189.42
26.96
30.45
11.76
4.00
8.00
7.42
23.94
50.40
352.35
18.47
50.00

Variance %
100%
100%
100%
100%
100%
100%
#DIV/0!
#DIV/0!
100%
100%
100%
100%
100%
100%
100%
100%
#DIV/0!
#DIV/0!
100%
100%
100%
#DIV/0!
#DIV/0!
100%
100%
100%
#DIV/0!
100%
100%
100%
100%
#DIV/0!
100%
100%
100%
100%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
100%

25.00

100%

$
$
$
$
$
$

28.10
8.75
142.80
38.05
64.98
39.77

100%
100%
100%
100%
100%
100%

Variables
Growth Rates:

Baseball Tees
Socks
White T-shirts - Male
Stickers
Tarp Wallets
Leather Wallets
Gloves
Misc

20%
15%
30%
60%
10%
30%
15%
10%

Gross Margin
Baseball Tees
Socks
White T-shirts - Male
Stickers
Tarp Wallets
Leather Wallets
Gloves
Misc

56%
40%
43%
39%
43%
21%
38%
38%

Interest Rate
Income Tax Rate
Sales Tax %

2%
30%
6%

Week 1

6
-

Baseball Tees
Socks
White T-shirts - Male
White T-shirts - Female
Stickers
Tarp Wallets
Leather Wallets
Gloves
MISC

Total Units Sold

0.00%
Week 0
Revenues:
Baseball Tees

Week 1
$104.50

Socks
White T-shirts - Male
White T-shirts - Female
Stickers
Tarp Wallets
Leather Wallets
Gloves
Misc.

Total Revenue:

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$

COGS
Baseball Tees
Socks
White T-shirts - Male
White T-shirts - Female
Stickers
Tarp Wallets
Leather Wallets
Gloves
Misc.
Paper
Ink

$104.50
$46.92
$0.00
$0.00
$0.00
$0.00

$0.00
$6.84
$1.80

Total COGS:

$55.56

GROSS PROFIT

$48.94

Expenses
Marketing Expense
R&D Expense
Depreciation Expense
Shipping Expense
Misc. Expense

$36.10
$7.41
$28.10
$0.00
$44.00

Operating Profit (EBIT)

$66.67

Interest Expense
Income Taxes

$41.00
$0.00

Net Income

$107.67

Pr
Week 0
Assets:
Cash

1,329.00 $

Week 1
1,337.03

Accounts Receivable
Inventory
PP&E
Less: Accumulated Depreciation

TOTAL ASSETS:

281.00

1,610.00

Liabilities & Equity


Accounts Payable
Interest Payable
Notes Payable

$
$

2,050.00

Total Liabilities:

2,050.00

Retained Earnings

Total Equity:

$
$
$
$

252.90
28.10

1,561.83

$
$
$
$

1,695.00
41.00
2,050.00
3,786.00

-$
-$

1,114.00
1,114.00

TOTAL LIABILITIES & EQUITY

2,050.00

2,672.00

DFN

440.00

1,110.17

Amount paid
Amount owed

$
$

2,050.00

$
$

3,786.00

Baseball Tees
Paper
Ink Cost
Unit Cost
Total Unit Cost
Sales Price
Sales Tax
Net after sales tax
Cont. Margin

$
$
$
$
$

0.57
1.20
7.25
9.02
17.00
$1.02
$15.98
$6.96

Socks

$
$
$
$
$

White T Male

0.57
0.80
2.00
3.37
9.00

$
$
$
$
$

$0.54
$8.46
$4.52

0.57
1.20
4.32
6.09
15.00
$0.90
$14.10
$8.01

Units Sold
Week 2

Week 3

Week 4

31
-

26
3
1
###

45
10
18
9

###

31
0.00%

30

82

Week 5

18
8
-

26

Week 2

0.00%
0.00%
Pro-Forma Income Statement
Week 3
Week 4

Week 5

$385.50

$371.50

$305.20

$640.50

0.00%

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00

$23.00
$15.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00

$45.00
$171.00
$88.00
$0.00
$0.00
$0.00
$0.00
$5.00

$63.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$5.00

$385.50

$409.50

$949.50

$373.20

$215.45
$0.00
$0.00
$0.00
$0.00

$188.50
$6.00
$4.32
$0.00
$0.00

$324.72
$19.70
$109.62
$58.41
$0.00

$132.27
$15.37
$0.00
$0.00
$0.00

$0.00
$12.50
$6.42

$0.00
$23.37
$36.00

$120.00
$42.75
$78.00

$177.00
$64.41
$135.60

$234.37

$258.19

$753.20

$524.65

$151.13

$151.31

$196.30

$151.45

$74.28
$10.58
$28.10
$0.00
$20.16

$91.17
$86.00
$28.10
$0.00
$55.24

$152.41
$7.41
$28.10
$6.00
$5.50

$48.48
$10.16
$28.10
$0.00
$6.34

$18.01

$109.20

$3.12

$244.53

$41.82
$0.00

$42.66
$0.00

$44.38
$3.59

$45.27
$2.61

$23.81

$151.86

$51.09

$292.41

Week 2
$

1,012.41 $

Pro-Forma Balance Sheet


Week 3
Week 4
800.00

800.00

Week 5
$

1,000.00

$
$
$
$

$
$
224.80 $
28.10

$
$
196.70 $
###
$

168.60
28.10

$
$
$
$

140.50
28.10

1,209.11 $

968.60

940.50

1,112.40

$
$
$
$

1,695.00 $
83.00 $
2,050.00
3,828.00 $

2,432.00
125.48
###
4,607.48

$
$
$
$

1,737.00
169.00
2,050.00
3,956.00

$
$
$
$

1,114.00
213.00
2,050.00
3,377.00

-$
-$

1,138.00 -$
1,138.00 -$

1,230.00 -$
1,230.00 -$

1,099.00 -$
1,099.00 -$

1,016.00
1,016.00

2,690.00 $

3,377.48

2,857.00

2,361.00

1,480.89 $

2,408.88

1,916.50

1,248.60

$
$

$
3,828.00 $

4,607.48

$
$

500.00
3,456.00

$
$

750.00
2,627.00

Stickers

$
$
$
$
$

Tarp Wallets

1.47
1.47
4.00

$
$
$
$
$

Leather Wallets

4.00
4.00 $
10.00 $

Gloves

### $
4.00 $
20.00 $

1.06
1.06
3.00

$0.24
$3.76
$2.29

$0.60
$9.40
$5.40

$1.20
$18.80
$14.80

$0.18
$2.82
$1.76

Week 6

Week 7

Week 8

Week 9

66
7
16
10
1
3
2

21
8
5
8
1
2
7

79
8
21
16
1
4
2
-

95
9
27
26
1
5
3
-

105

52

131

166

9.52%

2.38%

Week 6

Week 7

Week 8

Week 9

$1,100.00

$357.00

$1,346.40

$1,615.68

$68.00
$238.00
$0.00
$40.00
$10.00
$58.00
$6.00
$0.00

$72.00
$75.00
$0.00
$32.00
$10.00
$40.00
$21.00
$0.00

$72.45
$312.00
$0.00
$160.00
$22.00
$11.70
$6.90
$0.00

$83.32
$405.60
$0.00
$512.00
$3.63
$15.21
$0.00
$0.00

$1,520.00

$607.00

$1,931.45

$2,635.44

$478.50
$14.00
$69.12
$14.65
$4.00
$12.00
$2.12

$189.42
$26.96
$30.45
$0.00
$11.76
$4.00
$8.00
$7.42

$714.38
$27.13
$126.67
$0.00
$23.52
$4.40
$15.60
$2.44

$857.26
$31.20
$164.67
$0.00
$37.63
$4.84
$20.28
$2.80

$0.00
$50.73
$106.80

$0.00
$23.94
$50.40

$0.00
$70.71
$148.86

$0.00
$89.45
$188.33

$751.92

$352.35

$1,133.71

$1,396.47

$768.08

$254.65

$797.74

$1,238.97

$177.85
$40.00
$28.10
$0.00
$0.00

$50.00
$25.00
$28.10
$0.00
$8.75

$200.00
$40.00
$28.10
$10.00
$20.00

$200.00
$40.00
$28.10
$10.00
$20.00

$522.13

$142.80

$499.64

$940.87

$0.00

$38.05
$64.98

$34.44
$228.99

$17.45
$366.46

$522.13

$39.77

$236.21

$556.97

Week 6
$

1,000.00

Week 7
$

1,000.00

Week 8
$

1,500.00

Week 9
$

4,000.00

$
$
$
$

112.40
28.10

$
$
$
$

84.30
28.10

$
$

1,084.30

1,056.20

$
$
$
$

800.00
52.54
1,050.00
1,902.54

$
$
$
$

1,000.00
22.05
700.00
1,722.05

$
$

###
56.20
###

$
$
$
$

28.10
28.10

1,528.10

4,000.00

$
$
$
$

500.00
22.44
350.00
872.44

$
$

7.35

500.00

507.35

#VALUE!
#VALUE!

#VALUE!
#VALUE!

#VALUE!
#VALUE!

#VALUE!

#VALUE!

#VALUE!

#VALUE!

#VALUE!

#VALUE!

#VALUE!

#VALUE!

800.00
1,102.54

$
$

600.00
1,122.05

$
$

505.00
367.44

$
$

500.00
7.35

MISC

$
$
$

1.06
1.06
3.00
$0.18
$2.82
$1.76

-0.6818181818
Total

387
53
88
9
4
14
14
-

570

Total
$6,226.28

7.1428571429
0.7936507937 DAY
1.5873015873 Week

$426.77
$1,216.60
$88.00
$744.00
$45.63
$124.91
$33.90
$10.00
$8,916.09
$3,147.42
$140.36
$504.86
$58.41
$87.56
$17.24
$55.88
$14.78
$297.00
$384.70
$752.21
$5,460.42
$3,455.67

$1,030.29
$266.56
$252.90
$26.00
$179.99
$1,699.93
$305.07
$666.63
$728.23