Question.857 - Entrepreneurial Business Plan Development 4 – Financial Plan Chart Income Statement showing projected Income, Expenses, and Profit for 3 Years for your topic.
Answer Below:
Entrepreneurial Business Plan Development 4 – Financial Plan Armon Love St. Thomas University BUS 536: ENTREPRENEURSHIP Professor Justin Peart February 23rd, 2023 Entrepreneurial Business Plan Development 4 – Financial Plan Considering the entrepreneurial business model of content writing company which we’re working on throughout the course, the firm is presently is operating with 8 employees: Sales: $500,000 Cost of Services: $300,000 Gross Profit: $200,000 Operating Expenses: Salaries: $150,000 Rent: $30,000 Utilities: $10,000 Advertising: $20,000 Sales Expenses: $5,000 Insurance: $5,000 Payroll: $20,000 Miscellaneous Expenses: $10,000 Total Operating Expenses: $250,000 Net Profit: Gross Profit - Operating Expenses = $200,000 - $250,000 = -$50,000 Taxes: $0 (Assuming no taxable income due to net loss) This is a draft of financial plan subjected to change in the future, the content writing company is expected to generate sales of $500,000 and could spend on the cost of services for about $300,000, subsequent in a gross profit of $200,000. Though, the company might sustain operating expenses of $250,000, including salaries, rent, utilities, advertising, sales expenses, insurance, payroll, and miscellaneous expenses, resulting in a net loss of $50,000. The company might not result in profit, and no taxes are owed due to the net loss nor break has achieved breakeven status.More Articles From Business Management
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