This is really not a homewrok question, but I need help nevertheless:
I am helping a friend with a business plan. She needs help with putting together a four year profit projection and balance sheet for her start-up business. What has been done already is the profit projection, and one year of the balance sheet. Please help! My head hurts and I can't go any further! I've attached both excel spread sheets. Please, if anyone can get back to me today, it would be much appreciated.

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Originally Posted by ladyblaque1979

This is really not a homewrok question, but I need help nevertheless:
I am helping a friend with a business plan. She needs help with putting together a four year profit projection and balance sheet for her start-up business. What has been done already is the profit projection, and one year of the balance sheet. Please help! My head hurts and I can't go any further! I've attached both excel spread sheets. Please, if anyone can get back to me today, it would be much appreciated.

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No wonder why your head spins. There are quite a few things that do not make sense:
1. The balance sheet says beginning 1/2/2010?? I think this is the year end.
2. Tax expense in the profit projection for 2010 shows 2,097 whereas the balance sheet shows a payable of 4,410.
3. The balance sheet does not mention Invested capital
4. The cost of goods sold is just 46,000 while the accounts payable shows 176,300. Does not make sense since inventory is not reported.
5. Net profit after tax is shown as 4.706 as against 6,303
6. Long term debt is totalled as 208,000 instead of 200,000?

If you had posted the projected cash flow statement in support of your problem, things might have been easier

There are other point also but save it for later.