Gym Financial Statements

1. Projected Profit & Loss

2022 2023 2024
Revenue $825,200 $950,300 $1,250,500
Direct Costs $62,000 $75,000 $84,600
Gross Margin $763,200 $875,300 $1,165,900
Gross Margin % 92% 92% 93%
Operating Expenses
Salaries and Wages $445,600 $485,800 $510,400
Equipment purchase and Maintenance $80,000 $60,000 60,000
other utilities $4,000 $4,000 $4,000
Sales and Marketing 11,000 11,000 11,000
Employee related Expenses $45,000 $50,000 $50,000
Rent $50,000 $50,000 $50,000
Amortization of Other Current Assets $0 $0 $0
Total Operating Expenses $635,600 $660,800 $685,400
Operating Income $127,600 $214,500 $480,500
Interests Incurred $5,000 $2,150 $2,000
Depreciation and Amortization $7,550 $7,500 $7,450
Gain or Loss from Sale of Assets $0 $0 $0
Income Taxes $12,760 $21,450 $48,050
Total Expenses $722,910 $766,900 $827,500
Net Profit $102,290 $183,400 $423,000