Balance Sheet of Universal Learning Centerfor the period 2011 to 2013

Assets 2011 2012

Current Assets
Cash 231,600 539600
- -
Total current assets 231,600 539,600
Fixed (Long-Term) Assets
Building 800,000 8,000,000
Furniture and Fixtures 15,000 15,000
Land 200,000 200,000
Less Building Deprication (40,000) (40,000)
Total fixed assets 975,000 975,000

Total Assets 1,206,600 1,514,600

Liabilities and Owner's Equity

Current Liabilities
Short-term loan 10,000

Total current liabilities 10,000

Long-Term Liabilities
- -
Total long-term liabilities - -
Owner's Equity
Owner's investment 1,015,000 1,015,000
Profit 201,600 318,000
Other
Total owner's equity 1,216,600 1,333,000

Total Liabilities and Owner's Equity 1,226,600 1,333,000

Deprectaion
2013

933,200
-
933,200

8,000,000
15,000
200,000
(40,000)
975,000

1,908,200

-
-

1,015,000
933,200

1,948,200

1,948,200
 CASHFLOW PROJECTIONS FOR YEAR 2011
Jan Feb Mar Apr May Jun Jul
Cash Reciepts
Teaching income 48,000 48,000 48,000 48,000 48,000 48,000 48,000
Loan Proceeds 10,000
Starting Cash 15,000 0 0 0 0 0 0
Total Cash Reciepts(A) 73,000 48,000 48,000 48,000 48,000 48,000 48,000

Cash Disbursements
Furniture and Equipment 15,000 0 0 0 0 0 0
Building repairs 10,000 0 0 0 0 0 0
Expenses
Secretary wages 2,500 2,500 2,500 2,500 2,500 2,500 2,500
Teachers Salaries 22,400 22,400 22,400 22,400 22,400 22,400 22,400
General Expenses
Stationery 500 500 500 500 500 500 500
Upkeep 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Electricity 500 500 500 500 500 500 500
Telephone 400 400 400 400 400 400 400
Miscellanous 500 500 500 500 500 500 500

Finance Expenses
Interest and Bank charges 67 67 67 67 67 67 67
Payments on Principal 833 833 833 833 833 833 833

Total Cash Paid Out(B) 53,700 28,700 28,700 28,700 28,700 28,700 28,700
Cash Surplus or Deficit(A-B) 19,300 19,300 19,300 19,300 19,300 19,300 19,300
Opening Cash Balance{C} 0 19,300 38,600 57,900 77,200 96,500 115,800
Closing Cash Balance(D) 19,300 38,600 57,900 77,200 96,500 115,800 135,100
YEAR 2011
Aug Sep Oct Nov Dec Total

48,000 48,000 48,000 48,000 48,000 576,000

10,000
0 0 0 0 0 15,000
48,000 48,000 48,000 48,000 48,000 601,000

0 0 0 0 0 15,000
0 0 0 0 0 10,000

2,500 2,500 2,500 2,500 2,500 30,000

22,400 22,400 22,400 22,400 22,400 268,800

500 500 500 500 500 6,000

1,000 1,000 1,000 1,000 1,000 12,000
500 500 500 500 500 6,000
400 400 400 400 400 4,800
500 500 500 500 500 6,000

67 67 67 67 67 804
833 833 833 833 833 9,996

28,700 28,700 28,700 28,700 28,700 369,400

19,300 19,300 19,300 19,300 19,300 231,600
135,100 154,400 173,700 193,000 212,300
154,400 173,700 193,000 212,300 231,600
 CASHFLOW PROJECTIONS FOR YEAR 2012
Jan Feb Mar Apr May Jun Jul
Cash Reciepts
Teaching income 57,600 57,600 57,600 57,600 57,600 57,600 57,600
Starting Cash 221,600 0 0 0 0 0 0
Total Cash Reciepts(A) 279,200 57,600 57,600 57,600 57,600 57,600 57,600

Cash Disbursements
Furniture and Equipment 0 0 0 0 0 0 0
Building repairs 0 0 0 0 0 0 0
Expenses
Secretary wages 2,600 2,600 2,600 2,600 2,600 2,600 2,600
Teachers Salaries 25,600 25,600 25,600 25,600 25,600 25,600 25,600
General Expenses
Stationery 500 500 500 500 500 500 500
Upkeep 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Electricity 500 500 500 500 500 500 500
Telephone 400 400 400 400 400 400 400
Miscellanous 500 500 500 500 500 500 500

Finance Expenses
Interest and Bank charges 0 0 0 0 0 0 0
Payments on Principal 0 0 0 0 0 0 0

Total Cash Paid Out(B) 31,100 31,100 31,100 31,100 31,100 31,100 31,100
Cash Surplus or Deficit(A-B) 248,100 26,500 26,500 26,500 26,500 26,500 26,500
Opening Cash Balance{C} 0 248,100 274,600 301,100 327,600 354,100 380,600
Closing Cash Balance(D) 248,100 274,600 301,100 327,600 354,100 380,600 407,100
Aug Sep Oct Nov Dec Total

57,600 57,600 57,600 57,600 57,600 691,200

0 0 0 0 0 15,000
57,600 57,600 57,600 57,600 57,600 912,800

0 0 0 0 0 0
0 0 0 0 0 0

2,600 2,600 2,600 2,600 2,600 31,200

25,600 25,600 25,600 25,600 25,600 307,200

500 500 500 500 500 6,000

1,000 1,000 1,000 1,000 1,000 12,000
500 500 500 500 500 6,000
400 400 400 400 400 4,800
500 500 500 500 500 6,000

0 0 0 0 0 0
0 0 0 0 0 0

31,100 31,100 31,100 31,100 31,100 373,200

26,500 26,500 26,500 26,500 26,500 539,600
407,100 433,600 460,100 486,600 513,100
433,600 460,100 486,600 513,100 539,600
 CASHFLOW PROJECTIONS FOR YEAR 2013
Jan Feb Mar Apr May Jun Jul
Cash Reciepts
Teaching income 67,200 67,200 67,200 67,200 67,200 67,200 67,200
Starting Cash 539,600 0 0 0 0 0 0
Total Cash Reciepts(A) 606,800 67,200 67,200 67,200 67,200 67,200 67,200

Cash Disbursements
Furniture and Equipment 0 0 0 0 0 0 0
Building repairs 0 0 0 0 0 0 0
Expenses
Secretary wages 2,700 2,700 2,700 2,700 2,700 2,700 2,700
Teachers Salaries 28,800 28,800 28,800 28,800 28,800 28,800 28,800
General Expenses
Stationery 500 500 500 500 500 500 500
Upkeep 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Electricity 500 500 500 500 500 500 500
Telephone 400 400 400 400 400 400 400
Miscellanous 500 500 500 500 500 500 500

Finance Expenses
Interest and Bank charges 0 0 0 0 0 0 0
Payments on Principal 0 0 0 0 0 0 0

Total Cash Paid Out(B) 34,400 34,400 34,400 34,400 34,400 34,400 34,400
Cash Surplus or Deficit(A-B) 572,400 32,800 32,800 32,800 32,800 32,800 32,800
Opening Cash Balance{C} 0 572,400 605,200 638,000 670,800 703,600 736,400
Closing Cash Balance(D) 572,400 605,200 638,000 670,800 703,600 736,400 769,200
Aug Sep Oct Nov Dec Total

67,200 67,200 67,200 67,200 67,200 806,400

0 0 0 0 0 15,000
67,200 67,200 67,200 67,200 67,200 1,346,000

0 0 0 0 0 0
0 0 0 0 0 0

2,700 2,700 2,700 2,700 2,700 32,400

28,800 28,800 28,800 28,800 28,800 345,600

500 500 500 500 500 6,000

1,000 1,000 1,000 1,000 1,000 12,000
500 500 500 500 500 6,000
400 400 400 400 400 4,800
500 500 500 500 500 6,000

0 0 0 0 0 0
0 0 0 0 0 0

34,400 34,400 34,400 34,400 34,400 412,800

32,800 32,800 32,800 32,800 32,800 933,200
769,200 802,000 834,800 867,600 900,400
802,000 834,800 867,600 900,400 933,200
Universal Learning Centre Income Statement for the year
Year 1 Year 2 Year 3

REVENUE 2011 2012 2013

Teaching Revenue $576,000 $691,200 $1,346,000

OPERATING EXPENSES

Secretary wages 30,000 $31,200 $32,400

Teachers Salaries 268,800 307,200 345,600
Stationery 6,000 6,000 6,000
Upkeep 12,000 12,000 12,000
Electricity 6,000 6,000 6,000
Telephone 4,800 4,800 4,800
Miscellanous 6,000 6,000 6,000
Interest and Bank charges 800 0 0
Depreciation Building 40,000

Total Operating Expenses $374,400 $373,200 $412,800

TOTAL NET INCOME $201,600 $318,000 $933,200

for the year