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Income Statement Year 1 |
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Prepared By: |
Company Name: |
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Sam Miller |
Aviator Inc |
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Sept |
Oct |
Nov |
Dec |
Jan |
Feb |
Mar |
Apr |
May |
June |
July |
Aug |
Annual Totals |
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Revenue |
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T1 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
11,655,000 |
$
139,860,000 |
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T2 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
14,805,000 |
$
177,660,000 |
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X |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
10,770,000 |
$
129,240,000 |
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XR |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
21,250,000 |
$
255,000,000 |
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XL |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
33,000,000 |
$
396,000,000 |
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XLR |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
18,750,000 |
$
225,000,000 |
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Total Revenue |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
110,230,000 |
$
1,322,760,000 |
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Cost of Goods Sold |
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T1 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
7,568,182 |
$ 90,818,182 |
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T2 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
9,613,636 |
$
115,363,636 |
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X |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
6,993,506 |
$ 83,922,078 |
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XR |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
13,798,701 |
$
165,584,416 |
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XL |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
21,428,571 |
$
257,142,857 |
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XLR |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
12,175,325 |
$
146,103,896 |
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Total Cost of Goods Sold |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
71,577,922 |
$
858,935,065 |
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Gross Margin |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
38,652,078 |
$
463,824,935 |
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Payroll |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 589,979 |
$ 7,079,749 |
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Operating Expenses |
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Advertising |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
3,500,000 |
$ 42,000,000 |
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Car and Truck Expenses |
350,000 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
$ 377,500 |
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Commissions and Fees |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
$ 180,000 |
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Contract Labor (Not included in
payroll) |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
2,500 |
$ 30,000 |
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Insurance (other than health) |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
$ 66,000 |
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Legal and Professional Services |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
$ 96,000 |
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Licenses |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
1,500 |
$ 18,000 |
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Office Expense |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
$ 60,000 |
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Rent or Lease -- Vehicles, Machinery,
Equipment |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
3,500 |
$ 42,000 |
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Rent or Lease -- Other Business
Property |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
$ 240,000 |
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Repairs and Maintenance |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
$ 60,000 |
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Supplies |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
$ 60,000 |
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Travel, Meals and Entertainment |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
12,000 |
$ 144,000 |
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Utilities |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
50,000 |
$ 600,000 |
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Miscellaneous |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Other Expense 1 |
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Other Expense 2 |
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Total Operating Expenses |
$
3,983,000 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$
3,635,500 |
$ 43,973,500 |
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Income (Before Other Expenses)[1] |
$
34,079,099 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
34,426,599 |
$
412,771,686 |
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Other Expenses |
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Amortized Start-up Expenses |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
1,652,778 |
$ 19,833,333 |
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Depreciation |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
1,044,643 |
$ 12,535,714 |
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Interest |
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Commercial Loan |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Commercial Mortgage |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Credit Card Debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Vehicle Loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Other Bank Debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Line of Credit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Bad Debt Expense |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$ - |
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Total Other Expenses |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
2,697,421 |
$ 32,369,048 |
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Net Income Before Income Tax |
$
31,381,678 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
31,729,178 |
$
380,402,639 |
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Income Tax |
$
11,562,060 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
11,683,685 |
$
140,082,590 |
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Net Profit/Loss |
$
19,819,619 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
20,045,494 |
$
240,320,048 |
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Income Tax Calculations |
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Monthly Taxable Income |
$ 33,034,456 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
$ 33,381,956 |
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Cumulative Taxable Income |
$ 33,034,456 |
$ 66,416,412 |
$ 99,798,368 |
$ 133,180,324 |
$ 166,562,280 |
$ 199,944,236 |
$ 233,326,192 |
$ 266,708,148 |
$ 300,090,104 |
$ 333,472,060 |
$ 366,854,016 |
$ 400,235,972 |
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