Start-up Expenses Year 1 (Starting Balance Sheet)
Prepared By: Company Name:
Sam Miller Aviation Flight Academy
Fixed Assets Amount Depreciation (years)[1] Notes  
         
Real Estate-Land           2,100,000  Not Depreciated  Sterling Acquisition  
Real Estate-Buildings                        -                                 20    
Leasehold Improvements           1,000,000                                  7    
Equipment              150,000                                  7  See AFA Aircraft Analysis   
Furniture and Fixtures              150,000                                  5    
Vehicles           2,878,700                                  5    
Other                                    5    
Total Fixed Assets  $        6,278,700      
   
Operating Capital  Amount  Notes
Pre-Opening Salaries and Wages                        -  
Prepaid Insurance Premiums                45,000  
Inventory                40,000  
Legal and Accounting Fees                30,000  
Rent Deposits                10,000  
Utility Deposits                25,000  
Supplies              150,000  
Advertising and Promotions              350,000  
Licenses              200,000  
Other Initial Start-Up Costs                        -  
Working Capital (Cash On Hand)[2]              150,000  
Total Operating Capital  $        1,121,300  
Total Required Funds  $       7,400,000  
Sources of Funding Percentage Totals Loan Rate Term in Months Monthly Payments Notes
Owner's Equity 0.00%                                   -       Stocks Exchanged
Outside Investors 100.00%                      7,400,000 9.00% 60                      153,612  
Additional Loans or Debt            
Commercial Loan 0.00%                                   - 9.00% 84                                -  
Commercial Mortgage 0.00%                                   - 9.00% 240                                -   See Loan Amortization & Depreciation Schedule
Credit Card Debt 0.00%                                   - 7.00% 60                                -  
Vehicle Loans 0.00%                                   - 6.00% 48                                -  
Other Bank Debt 0.00%                                   - 5.00% 36                                -  
Total Sources of Funding 100.00%  $                  7,400,000 Cell D 42 must equal cell C31  $                            -  
Total Funding Needed    $                               - You are fully funded (Balanced)  
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Existing Businesses ONLY -- Calculating Cash on Hand
Cash                        -
+ Accounts Receivable                        -
+ Prepaid Expenses                        -
- Accounts Payable                         -
- Accrued Expenses                        -
Total Cash on Hand  $                    -
[1]
Years of depreciation must be 3 or more for the calculations in this workbook to work correctly.
[2]
Existing businesses should use the calculator at the bottom of this page to determine the Working Capital amount. Calculate the number, then enter it here.