prepare a 3 Year Proposed Funding Schedule (Sources and uses of the funds receiv

Question

prepare a 3 Year Proposed Funding Schedule (Sources and uses of the funds received.) for an online boutique retailer based on income statement below

Year 1 2 3 Expected Annual Sales $     1,000,000 $     4,000,000 $     10,000,000 Cost of Sales $        700,000 $     2,400,000 $       5,000,000 Gross Profit $        300,000 $     1,600,000 $       5,000,000 Selling and Admin Expenses $        250,000 $        250,000 $          250,000 Earnings before taxes $          50,000 $     1,350,000 $       4,750,000 Taxes at 21% $        (10,500) $      (283,500) $        (997,500) Net Income $          60,500 $     1,633,500 $       5,747,500

Explanation / Answer

Sources and Uses of Fund Particulars Year 1 Year 2 Year 3 Sources 1000000 4000000 10000000 Uses: a) Cost of sales 700000 2400000 5000000 b) Selling and Admin Exp 250000 250000 250000

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