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Chapter Ix

The financial plan projects the sales, costs, and expenses of K-Siete Tilapia Farm over three years. Projected sales in 2023 are 1,840,559.30 and increase by 20% each subsequent year. Cost of goods sold is calculated based on beginning inventory, purchases, available for sale, and ending inventory each year. The statement of comprehensive income shows projected sales, cost of goods sold, gross income, and operating expenses including permits and licenses for 2023 through 2025.

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Ruthchell Ciriaco
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54 views1 page

Chapter Ix

The financial plan projects the sales, costs, and expenses of K-Siete Tilapia Farm over three years. Projected sales in 2023 are 1,840,559.30 and increase by 20% each subsequent year. Cost of goods sold is calculated based on beginning inventory, purchases, available for sale, and ending inventory each year. The statement of comprehensive income shows projected sales, cost of goods sold, gross income, and operating expenses including permits and licenses for 2023 through 2025.

Uploaded by

Ruthchell Ciriaco
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CHAPTER IX

THE FINANCIAL PLAN

9.1 Statement of Comprehensive Income

A financial plan helps to determine the K-Siete Tilapia Farm business if the

business idea is sustainable, and keeps the business on track to its financial health as K-

Siete Tilapia Farm business matures. It is also an integral part to an overall business plan.

The K-Siete Tilapia Farm's projected sales for the first year is 1,840,559.30. The sales

increase to 20% for the following two years. The table below shows the projected sales of

K-Siete Tilapia Farm

Table 9.1 The Projected Sales of K-Siete Tilapia Farm


2023 2024 2025
PROJECTED SALES 1,840,559.30 2,208,671.16 2,650,405.39

The direct cost of producing a company's goods is known as cost of goods sold. It

is a crucial line on income statement that can reveal a lot K-Siete Tilapia Farm efficiency,

profitability, and financial performance. The table below shows the cost of goods sold of

K-Siete Tilapia Farm.

Table 9.2 K-Siete Tilapia Farm Cost of Goods Sold


2023 2024 2025
Beginning Inventory 200,000 400,000 600,000
Add: Purchases 186,000 210,000 256,325
Available for sale 386,000 610,000 856,325
Less: Ending Inventory 80,000 100,000 120,000
Cost 9.3
Table of Goods Sold of Comprehensive
The Statement 306,000 Income
510,000 736,325
of K-Siete Tilapia Farm
K-Siete Tilapia Farm
PROJECTED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR 2023-2025
2023 2024 2025
SALES 2,040,559.30 2,408,671.16 2,850,405.39
COST OF GOODS SOLDS 306,000.00 510,000.00 736,325.00
GROSS INCOME 1,734,559.30 1,898,671.16 2,114,080.39
LESS: OPERATING EXPENSE
PERMIT AND LICENSES 3,465.00 5,520.00 7,485.05

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