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Financial Statement

The document contains projected financial statements for Korea in Town for the month ending December 31, 2022 including an income statement, balance sheet, and cash flow statement. The income statement shows revenue of $6.8 million and net income of $1.4 million. The balance sheet lists total assets of $2.9 million including cash and equipment. The cash flow statement shows cash from operations of $1.4 million and an overall increase in cash.

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Christian Martizano
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68 views5 pages

Financial Statement

The document contains projected financial statements for Korea in Town for the month ending December 31, 2022 including an income statement, balance sheet, and cash flow statement. The income statement shows revenue of $6.8 million and net income of $1.4 million. The balance sheet lists total assets of $2.9 million including cash and equipment. The cash flow statement shows cash from operations of $1.4 million and an overall increase in cash.

Uploaded by

Christian Martizano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Korea in Town

Income Statement
For the Month Ended December 31, 2022

Revenue 6,846,049.20

Cost of Goods Sold

Diner 600,000

Convenience Store 600,000

K-Pop Merchandise 600,000 1,800,000.00

Gross Profit 5,046,049.20

Expenses

Salary Expense 2,311,680


Materials and Equipment 557,980
Office Supplies 110,484
Rent Expense 300,000
Promotional Expense 187,200
Utilities Expense 144,000
Permits and Licenses 1,700 3,611,344.00

Net Income 1,434,705.20


The projected income statement are based in the assume cash receive of the sales from

the project, total of ₱6,846,049.20 in the whole 12 months and assume fixed cost of expenses

total of 3,611,344 in the whole 12 months. The gross profit of income statement was

₱1,434,705.20 from the whole 12 months.

Korea in Town

Balance Sheet

For the Month Ended December 31, 2022

Asset

Cash 2,266,241.20

Properties & Equipment (Net) 668,464

Total 2,934,705.20

Liabilities

Owner’s Equity

Capital 1,500,000

Net Income 1,434,705,20

Total 2,934,705.20

The projected balance sheet includes assets, liabilities, and owner’s equity. The assets

involve the current assets and non-current assets. The current assets involves cash
Korea in Town

Statement of Cash Flow

For the Month Ended December 31, 2022

Cash Flow from Operating Activities

Cash Received from Customers 6,846,049.20

Cash Paid for Merchandise (1,800,000.00)

Cash Paid for Expenses (3,611,344.00)

Total Cash Flow from Operating Activities 1,434,705.20

Cash Flows from Investing Activities

Purchase Equipment (668,464.00)

Total Cash Flow from Investing Activities (668,464.00)

Cash Flows from Financial Activity

Investment 1,500,000.00

Withdrawal -

Total Cash Flow from Financing Activities 1,500,000.00


Net Increase (Decrease) in Cash 2,266,241.20

Closing Cash Balance 11/30/2019 2,266,241.20

The projected cash flow includes operating, investing, financing. The operating cash flow

are based in the net income of the income statement, ₱1,434,705.20, because it is the net

earnings of the business and total cash receive from the whole 12 months. The investing cash

flow are based on the equipment and property that the business own. And the financing cash

flow are based on the capital or investment of the owners of the proposed business.

Year 1 Year 2 Year 3

Revenue 6,846,049.20 8,280,754.40 9,715,459.60

Cost of Goods (1,800,000) (1,800,000) (1,800,000)

Sold

Gross Profit 5,046,049.20 6,480,754.40 7,915,450.60

Expenses (3,611,344) (3,611,344) (3,611,344)

Net Income P 1,434,705.20 P 2,869,410.40 P 4,304,115.60

Projected Yearly Income Statement

Year 1 Year 2 Year 3

Cash 2,266,241.20 3,700,046.40 5,135,651.60

Property & 668,464 668,464 668,464

Equipment

Total 2,934,705.20 4,369,410.40 5,804,115.60


Liabilities - - -

Owner’s Equity 1,500,000 1,500,000 1,500,000

Net Income 1,434,705.20 2,869,410.40 4,304,115.60

Total 2,934,705.20 4,369,410.40 5,804,115.60

Projected Yearly Balance Sheet

Year 1 Year 2 Year 3

Operating 1,434,705.20 2,869,410.40 4,304,115.60

Activities

Investing (668,464) (668,464) (668,464)

Activities

Financial 1,500,000 1,500,000 1,500,000

Activities

Net Increase 2,266,241.20 3,700,946.40 5,135,651.60

(Decrease) in Cash

Closing Cash 2,266,241.20 3,700,946.40 5,135,651.60

Balance

Projected Yearly Cash Flow

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