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					Bent Cycling
Author
Date
Purpose   To project five years of income statements for Bent
          Cycling
Bent Cycling                                   Projected Five-Year Income Statement                                      2/23/2012


Bent Cycling
Projected Five-Year Income Statement

                                                                                       Tax Rate                   33%
                                                                                       Cost of Goods              75%

                                        Year 1          Year 2           Year 3             Year 4          Year 5
Revenues                                $1,800,000                                                          $3,600,000
Cost of Sales                           $1,350,000               $0               $0                   $0   $2,700,000
Gross Profit                             $450,000                $0               $0                   $0    $900,000

Accounting                                $10,000
Advertising & Promotion                   $14,000
Insurance                                  $9,000
Maintenance                               $10,000
Utilities                                  $8,000
Miscellaneous                             $10,000
Total General Expenses                    $61,000                $0               $0                   $0          $0

Earnings before Interest, Depr. & Tax    $389,000                $0               $0                   $0    $900,000
Depreciation Expense
Operating Profit                         $389,000                $0               $0                   $0    $900,000

Interest Expense
Earnings Before Taxes                    $389,000                $0               $0                   $0    $900,000

Estimated Tax                            $128,370                $0               $0                   $0    $297,000
Net Income                               $260,630                $0               $0                   $0    $603,000
Bent Cycling                      Depreciation of Assets           2/23/2012


Bent Cycling
Depreciation of Assets

Initial Asset Value
Salvage Value
Life of Asset (Years)

                                      Year
                          1   2          3                 4   5
Straight-Line (SLN)
Cumulative Depreciation
Asset Value

Declining Balance (DB)
Cumulative Depreciation
Asset Value

				
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