iLaundry

PROJECTED FIVE YEAR COMPARATIVE INCOME STATEMENT

Year 1 Year 2 Year 3
Service Revenue 1,044,690.00 1,570,560.00 2,375,870.00
Less: Cost of Service 565,458.00 569,996.00 574,987.80
Gross Profit 479,232.00 1,000,564.00 1,800,882.20
Less: Expenses
Salaries & Wages 252,000.00 252,000.00 252,000.00
Depreciation - Equipments 23,597.60 23,597.60 23,597.60
Depreciation - Leasehold improvements 4,000.00 4,000.00 4,000.00
Depreciation - Furnitures and Fixtures 4,000.00 4,000.00 4,000.00
Rent 120,000.00 120,000.00 120,000.00
Supplies 4,325.00 4,757.50 5,233.25
Advertising 5,500.00 3,000.00 3,000.00
SSS Contribution 37,128.00 37,128.00 37,128.00
PhilHealth Contribution 6,000.00 6,000.00 6,000.00
PAG-IBIG Contribution 4,800.00 4,800.00 4,800.00
Duties and Licenses 9,740.00 9,000.00 9,000.00
Utilities 80,000.00 80,000.00 80,000.00
Repairs and maintenance 5,000.00 12,000.00 12,000.00
Total General and Administrative Exp 556,090.60 560,283.10 560,758.85
Income Before Tax - 76,858.60 440,280.90 1,240,123.35
Income Tax (Tabular) - 182,084.27 521,839.47
Income After Tax - 76,858.60 258,196.63 718,283.88

Cost of Services Provided

Year 1 Year 2 Year 3
Inventory, Jan 0 4,325.00 4,757.50
Purchases 45,380.00 49,918.00 54,909.80
Freight-in 4,325.00 4,757.50 5,233.25
Total Purchases 49,705.00 54,675.50 60,143.05
Net Purchases 49,705.00 54,675.50 60,143.05
Cost of Inventory Available for Use 49,705.00 54,675.50 60,143.05
Less: Inventory, Dec 4,325.00 4,757.50 5,233.25
Cost of Inventory Used 45,380.00 49,918.00 54,909.80
Salaries of Direct Workers 504,000.00 504,000.00 504,000.00
Total Depreciation of Direct Equipment 16,078.00 16,078.00 16,078.00

TOTAL COST OF SERVICES 565,458.00 569,996.00 574,987.80

 Breakdown of Utilities (Indirect)
Description Consumption perIn One Year Total
1. Gasoline 200 360 72,000.00
2. Telephone 0.191362 360 68.89
3. Electricity 3.18936 360 1,148.17
4. Water 0.486 360 174.96
5. Computer 10.04648 360 3,616.73
77,008.75
TATEMENT iLaundry
Year 4 Year 5 PROJECTED FIVE YEAR COMPARATIVE BALANCE SHE
3,533,790.00 5,298,420.00 Year 1 Year 2
580,478.78 586,518.86 ASSETS
2,953,311.22 4,711,901.14 Current Assets
Cash
252,000.00 252,000.00 Supplies Inventories 4,325.00 4,757.50
23,597.60 23,597.60 Total Current Assets
4,000.00 4,000.00
4,000.00 4,000.00 Non Current Assets
120,000.00 120,000.00 Equipments 469,190.00 469,190.00
5,756.58 6,332.24 Less: Accumulated Depreciation 23,597.60 47,195.20
3,000.00 1,000.00 Leasehold Imprevements 20,000.00 20,000.00
37,128.00 37,128.00 Less: Accumulated Depreciation 4,000.00 8,000.00
6,000.00 6,000.00 Furnitures and Fixtures 20,000.00 20,000.00
4,800.00 4,800.00 Less: Accumulated Depreciation 4,000.00 8,000.00
9,000.00 9,000.00 Total Non Current Assets 540,787.60 572,385.20
80,000.00 80,000.00
12,000.00 12,000.00 Total Assets
561,282.18 559,857.84
2,392,029.04 4,152,043.30
890,449.29 1,453,653.86 LIABILITIES & OWNER'S EQUITY
1,501,579.75 2,698,389.44 Current Liabilities
Due to SSS 9,282.00 9,282.00
Due to PhilHealth 1,500.00 1,500.00
Due to PAG-IBIG 1,200.00 1,200.00
Income Tax Payable - 182,084.27
Total Current Liabilities 11,982.00 194,066.27
Year 4 Year 5 Non Current Liabilities
5,233.25 5,756.58 Loan Payable - -
60,400.78 66,440.86 Total Liabilities 11,982.00 194,066.27
5,756.58 6,332.24 Owner's Equity
66,157.36 72,773.10 Capital
66,157.36 72,773.10
66,157.36 72,773.10 Total Liabilities and Owner's Equity
5,756.58 6,332.24
60,400.78 66,440.86
504,000.00 504,000.00
16,078.00 16,078.00
iLaundry
580,478.78 586,518.86 Depreciation Table
 Equipments
Quantity
Cost/Equipment/Furniture
Washing machine 2 75,000.00
Sensor dryer with Iron Aid 2 18,995.00
Direct Equipment - Overhead
CYLINDER 5 Speed SUZUKI Van 2 95,000.00
Water Tank 1 10,000.00
2 in 1 Blower and Suction 1 6,000.00
Weighing scale 1 3,500.00
Water hose 2 1,500.00
Iron Press 1 13,250.00
Air Condition 1 15,000.00
Personal Computer 2 15,000.00
Printer 1 2,500.00
Telephone 1 500.00
Flourescent Light 5 150.00
Router 1 500.00
Digital Clock 1 200.00
Cashier Equipment 1 6,000.00
Total Depreciation Equipments

Furnitures and Fixtures

Leasehold Imprevements
TOTAL
undry Pre-operating Expenses
MPARATIVE BALANCE SHEET Machines
Year 3 Year 4 Year 5 Washing Machi
150,000.00
SETS SEnsor Drye 37,990.00

Equipments
5,233.25 5,756.58 6,332.24 Water tank 10,000.00
2 in 1 Blow 6,000.00
Weighing Sc 3,500.00
Water hose 3,000.00
469,190.00 469,190.00 469,190.00 Iron Press 13,250.00
70,792.80 94,390.40 117,988.00 Air Conditi 15,000.00
20,000.00 20,000.00 20,000.00 Personal C 30,000.00
12,000.00 16,000.00 20,000.00 Printer 2,500.00
20,000.00 20,000.00 20,000.00 Telephone 500.00
12,000.00 16,000.00 20,000.00 Flourescent 750.00
603,982.80 635,580.40 667,178.00 Router 500.00
Digital Cloc 200.00
Cashier Eq 6,000.00
Vehicle
CYLINDER 5 Speed SUZUKI
OWNER'S EQUITY Leasehold Improvements
Furnitures and Fixtures
9,282.00 9,282.00 9,282.00 Advertising Expenses
1,500.00 1,500.00 1,500.00
1,200.00 1,200.00 1,200.00
521,839.47 890,449.29 1,453,653.86 Supplies,etc.
533,821.47 902,431.29 1,465,635.86 Plastic Han 6,000.00
Laundry Ba 300.00
- - - Big Basin 2,250.00
533,821.47 902,431.29 1,465,635.86 Bond Paper 300.00
Ballpen 100.00
Ink (Printer 960.00
Folders 150.00
Markers 130.00
Paper Clips 30.00
Stapler 210.00
Correction f 120.00
Clear Book 275.00
iLaundry Carbon Pap 50.00
epreciation Table Time Card 150.00
Equipments Bulletin Bo 350.00
Total Acquisit Scrap Value Est. Useful Life Annual Dep'n Cashier Pape 1,500.00
150,000.00 15,000.00 5 6,000.00 Cleaning Products
37,990.00 3,799.00 5 1,519.60 Supreme Po 19,500.00
Fabric Sof 7,600.00
190,000.00 19,000.00 3 12,666.67 Liquid Blea 3,280.00
10,000.00 1,000.00 5 400.00 Paint, Oil 5,000.00
6,000.00 600.00 5 240.00 Fabric Fres 10,000.00
3,500.00 350.00 3 233.33 Duties and Licenses
3,000.00 300.00 5 120.00 Rent
13,250.00 1,325.00 5 530.00 TOTAL
15,000.00 1,500.00 5 600.00
30,000.00 3,000.00 8 750.00
2,500.00 250.00 5 100.00
500.00 50.00 5 20.00
750.00 75.00 1 150.00
500.00 50.00 5 20.00
200.00 20.00 5 8.00
6,000.00 600.00 5 240.00
469,190.00 23,597.60

20,000.00 5 800.00
20,000.00 5 800.00
509,190.00 25,197.60
ting Expenses PROJECTED STATEMENT OF CASH FLOW
Year 1
Cash Provided/Used by Operating Activities
Cash Receipts from Sales & Services 1,044,690.00
187,990.00 Purchase of Inventory 45,380.00
Payment of Advertising Fee 5,500.00
Payment of Utilities Expense 80,000.00
Payment of Supplies 4,325.00
Payment of Rent 120,000.00
Payment of Repairs and Maintenance 5,000.00
Payment of employee Salaries/Wages 475,761.60
SSS, Philhealth & PAG-IBIG Premium (ER&EE share)
Payment of Duties and Licences 9,740.00
Remittance of Withholding Tax -
Payment of Income Tax -
Net Cash Provided by OPerating Activities

Cash Provided/Used from Investing Activities

91,200.00 Payment to acquire equipment 489,190.00
Payment for leasehold improvements 20,000.00
190,000.00 Net Cash Used in Investing Activities 509,190.00
20,000.00
20,000.00 Cash Provided from Financing Activities
Cash received as investment by owner
Payment for withdrawals by owner
Net Cash Provided by Financing Activities

Net Cash Inflow (Outflow)

Add: Beginning Cash Balance
Ending Cash Balance
 12,875.00

45,380.00
9,740.00
120,000.00
697,185.00
D STATEMENT OF CASH FLOW
Year 2 Year 3 Year 4 Year 5
Personnel

1,570,560.00 2,375,870.00 3,533,790.00 5,298,420.00

49,918.00 54,909.80 60,400.78 66,440.86 Inspector
3,000.00 3,000.00 3,000.00 1,000.00
80,000.00 80,000.00 80,000.00 80,000.00 Machine Wor
4,757.50 5,233.25 5,756.58 6,332.24 Driver
120,000.00 120,000.00 120,000.00 120,000.00
12,000.00 12,000.00 12,000.00 12,000.00
475,761.60 475,761.60 475,761.60 475,761.60

9,000.00 9,000.00 9,000.00 9,000.00

- - - -
182,084.27 521,839.47 890,449.29

- - - -
- - - -
- - - -

- - - -
 PAYROLL SCHEDULE (FIXED RATE)
DEDUCTIONS
No. Min. Wage/Day
Working Days
Monthly Gross Pay
SSS Premium PhilHealth Premium PAG-IBIG Premium
ER EE ER EE ER
1 350.00 30 10,500.00 773.50 363.30 125.00 125.00 100.00
1 350.00 30 10,500.00 773.50 363.30 125.00 125.00 100.00
1 350.00 30 10,500.00 773.50 363.30 125.00 125.00 100.00
1 350.00 30 10,500.00 773.50 363.30 125.00 125.00 100.00
42,000.00 3,094.00 1,453.20 500.00 500.00 400.00
TOTAL PER ANNUM 504,000.00 37,128.00 17,438.40 6,000.00 6,000.00 4,800.00
Employer's Contribution 47,928.00
Employee's Contributi 28,238.40
 Total DeductionsNet Monthly Pay
PAG-IBIG Premium
EE
100.00 588.30 9,911.70
100.00 588.30 9,911.70
100.00 588.30 9,911.70
100.00 588.30 9,911.70
400.00 2,353.20 39,646.80
4,800.00 28,238.40 475,761.60