Scribd Logo
Upload

Welcome to Scribd!

  • 35 views

    Maple Leaf

    Uploaded by

    Henry Kim
    The document projects Maple Leaf Hardware's income statement for 2013 and 2014 under different sales growth assumptions. It projects net income after tax of $74,242.80 for 2013 assuming a 10% sales growth, $90,810.90 for 2014 assuming another 10% growth, and $110,257.20 for 2014 assuming a 20% growth over 2013 sales.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Maple Leaf

    Uploaded by

    Henry Kim
    35 views1 page
    The document projects Maple Leaf Hardware's income statement for 2013 and 2014 under different sales growth assumptions. It projects net income after tax of $74,242.80 for 2013 assuming a 10% sales growth, $90,810.90 for 2014 assuming another 10% growth, and $110,257.20 for 2014 assuming a 20% growth over 2013 sales.

    Original Description:

    bus 1200

    Original Title

    maple leaf

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document projects Maple Leaf Hardware's income statement for 2013 and 2014 under different sales growth assumptions. It projects net income after tax of $74,242.80 for 2013 assuming a 10% sales growth, $90,810.90 for 2014 assuming another 10% growth, and $110,257.20 for 2014 assuming a 20% growth over 2013 sales.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    35 views1 page

    Maple Leaf

    Uploaded by

    Henry Kim
    The document projects Maple Leaf Hardware's income statement for 2013 and 2014 under different sales growth assumptions. It projects net income after tax of $74,242.80 for 2013 assuming a 10% sales growth, $90,810.90 for 2014 assuming another 10% growth, and $110,257.20 for 2014 assuming a 20% growth over 2013 sales.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    MAPLE LEAF HARDWARE LTD

    Projected Income Statement


    For The Year Ending December 31st, 2013 and 2014
    Gross Sales Assumption 2013 Assumption 2014 - 10% Assumption 2014 - 20%
    Sales Projection Given $ 1,700,000.00 Estimated at 10% $ 1,870,000.00 Estimated at 20% $ 2,040,000.00
    Net Sales $ 1,700,000.00 $ 1,870,000.00 $ 2,040,000.00

    Cost of Goods Sold


    Beginning Inventory $ 416,000.00 $ 461,095.89 $ 461,095.89
    Plus: Net Purchases $ 1,167,095.89 $ 1,087,417.81 $ 1,228,191.78
    Cost of Goods Available for Sale $ 1,583,095.89 $ 1,548,513.70 $ 1,689,287.67
    Less: Ending Inventory Using COGS $ 461,095.89 Using COGS $ 333,013.70 Using COGS $ 363,287.67
    Cost of Goods Sold Estimated at 66% $ 1,122,000.00 Estimated at 64% $ 1,215,500.00 Estimated at 64% $ 1,326,000.00
    Gross Income $ 578,000.00 $ 654,500.00 $ 714,000.00

    Operating Expenses:
    Wages and Salaries Based on 13.5% $ 229,500.00 Based on 13.5% $ 252,450.00 Based on 13.5% $ 275,400.00
    Rent Expense 28,800 Inc/Year $ 129,600.00 12,400/Month $ 148,800.00 28,000 Inc/Yr $ 148,800.00
    Depreciation Expense Based on 2012 $ 18,000.00 Based on 2013 $ 18,000.00 Based on 2013 $ 18,000.00
    Utilities Based on 2012 $ 18,700.00 Based on 2013 $ 20,570.00 Based on 2013 $ 22,440.00
    Advertising Based on 2012 $ 28,900.00 Based on 2013 $ 31,790.00 Based on 2013 $ 34,680.00
    Property Tax 0.1% Inc Estimated $ 30,600.00 0.1% Inc Estimated $ 35,530.00 0.1/% Inc Estimated $ 38,760.00
    Other Expense Based on 2012 $ 22,100.00 Based on 2013 $ 24,310.00 Based on 2013 $ 26,520.00
    Total Operating Expenses: $ 477,400.00 $ 531,450.00 $ 564,600.00

    Net Income Before Tax and Interest $ 100,600.00 $ 123,050.00 $ 149,400.00


    Less: Interest Expense Based on 2012 $ 1,609.60 Based on 2013 $ 1,968.80 Based on 2013 $ 2,390.40
    Net Income Before Tax $ 98,990.40 $ 121,081.20 $ 147,009.60
    Less: Income Tax (25% ) 25% $ 24,747.60 25% $ 30,270.30 25% $ 36,752.40
    Income After Tax $ 74,242.80 $ 90,810.90 $ 110,257.20

    You might also like