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					Bent Cycling
Author
Date
Purpose   To project Bent Cycling's income statements for the
          next five fiscal years
Bent Cycling                                                          Loan Proposal                                                  5/17/2012


Bent Cycling                                                                                                  Prepared: 11/7/2009
Loan Schedule

                                       Quarters per       Rate per Quarter                                    Quarterly Payment
     Loan (PV)        Annual Rate         Year                 (RATE)      Quarters (NPER)      Years               (PMT)
     1,200,000.00              9.50%                  4            2.375%               20               5            ($76,070.58)

Amortization Schedule
                                       Remaining             Interest         Principal
       Year             Quarter         Principal            Payment          Payment       Total Payment
                  1                1      $1,200,000            ($28,500)         ($47,571)       ($76,071)
                  1                2     $1,152,429             ($27,370)         ($48,700)       ($76,071)
                  1                3     $1,103,729             ($26,214)         ($49,857)       ($76,071)
                  1                4     $1,053,872             ($25,029)         ($51,041)       ($76,071)
                  2                5     $1,002,831             ($23,817)         ($52,253)       ($76,071)
                  2                6       $950,578             ($22,576)         ($53,494)       ($76,071)
                  2                7       $897,083             ($21,306)         ($54,765)       ($76,071)
                  2                8       $842,318             ($20,005)         ($56,066)       ($76,071)
                  3                9       $786,253             ($18,674)         ($57,397)       ($76,071)
                  3               10       $728,856             ($17,310)         ($58,760)       ($76,071)
                  3               11       $670,096             ($15,915)         ($60,156)       ($76,071)
                  3               12       $609,940             ($14,486)         ($61,585)       ($76,071)
                  4               13       $548,355             ($13,023)         ($63,047)       ($76,071)
                  4               14       $485,308             ($11,526)         ($64,545)       ($76,071)
                  4               15       $420,764              ($9,993)         ($66,077)       ($76,071)
                  4               16       $354,686              ($8,424)         ($67,647)       ($76,071)
                  5               17       $287,039              ($6,817)         ($69,253)       ($76,071)
                  5               18       $217,786              ($5,172)         ($70,898)       ($76,071)
                  5               19       $146,888              ($3,489)         ($72,582)       ($76,071)
                  5               20        $74,306              ($1,765)         ($74,306)       ($76,071)

                                                               Year
Yearly Payments            1                2                    3                4               5                 Total
Bent Cycling                                  Loan Proposal                                       5/17/2012

Interest       ($107,113)    ($87,704)    ($66,385)       ($42,966)    ($17,243)     ($321,412)
Principal      ($197,169)   ($216,578)   ($237,898)      ($261,316)   ($287,039)   ($1,200,000)
Total          ($304,282)   ($304,282)   ($304,282)      ($304,282)   ($304,282)   ($1,521,412)
Bent Cycling                                    Depreciation of Assets                            5/17/2012


Bent Cycling                                                                Prepared: 11/7/2009
Depreciation of Assets

Initial Asset Value       $1,200,000
Salvage Value              $400,000
Life of Asset (Years)             15

                                                    Year
                           1              2             3                 4            5
Straight-Line (SLN)          $53,333      $53,333       $53,333           $53,333      $53,333
Cumulative Depreciation      $53,333     $106,667      $160,000          $213,333     $266,667
Depreciation              $1,146,667   $1,093,333    $1,040,000          $986,667     $933,333

Declining Balance (DB)       $85,200      $79,151       $73,531           $68,310      $63,460
Cumulative Depreciation      $85,200     $164,351      $237,882          $306,192     $369,653
Depreciation              $1,114,800   $1,035,649      $962,118          $893,808     $830,347
Bent Cycling                                   Projected Five-Year Income Statement                                        5/17/2012


Bent Cycling                                                                                         Prepared: 11/7/2009
Projected Five-Year Income Statement

                                                                                Percent Cost of Goods               72%
                                                                                    Assumed Tax Rate                33%
                                        Year 1          Year 2           Year 3           Year 4             Year 5
Sales Revenue                            3,200,000                                                            6,400,000
Cost of Goods Sold                       2,304,000               -              -                -            4,608,000
Gross Profit                               896,000               -              -                -            1,792,000

Accounting                                  7,000            8,050            9,258          10,646              12,243
Advertising & Promotion                    21,000           24,150           27,773          31,938              36,729
Insurance                                   2,000            2,300            2,645           3,042               3,498
Maintenance                                 4,800            5,520            6,348           7,300               8,395
Utilities                                   7,600            8,740           10,051          11,559              13,292
Miscellaneous                               2,400            2,760            3,174           3,650               4,198
Total General Expenses                     44,800           51,520           59,248          68,135              78,355

Earnings before Interest, Depr. & Tax     851,200
Depreciation Expense
Operating Profit

Interest Expense
Earnings Before Taxes                                            -              -                -                  -

Estimated Tax                                                    -              -                -                  -
Net Income                                                       -              -                -                  -

				
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