Income Statement Years 1-3
Prepared By: Company Name:
Sam Miller Aviator Inc
Revenue 44044   44045   44046  
T1                   139,860,000            153,846,000            169,230,600  
T2                   177,660,000            195,426,000            214,968,600  
X                   129,240,000            142,164,000            156,380,400  
XR                   255,000,000            280,500,000            308,550,000  
XL                   396,000,000            435,600,000            479,160,000  
XLR                   225,000,000            247,500,000            272,250,000  
Total Revenue  $        1,322,760,000 100%  $1,455,036,000 100% ############ 100%
Cost of Goods Sold            
T1                     90,818,182              99,900,000            109,890,000  
T2                   115,363,636            126,900,000            139,590,000  
X                     83,922,078              92,314,286            101,545,714  
XR                   165,584,416            182,142,857            200,357,143  
XL                   257,142,857            282,857,143            311,142,857  
XLR                   146,103,896            160,714,286            176,785,714  
Total Cost of Goods Sold                858,935,065 65%       944,828,571 65%   1,039,311,429 65%
Gross Margin                   463,824,935 35%          510,207,429 35%          561,228,171 35%
Payroll                       7,079,749                8,263,845              10,404,122  
Operating Expenses            
Advertising                     42,000,000              43,260,000              44,557,800  
Car and Truck Expenses                          377,500                   388,825                   400,490  
Commissions and Fees                          180,000                   189,000                   198,450  
Contract Labor (Not included in payroll)                            30,000                     30,900                     31,827  
Insurance (other than health)                            66,000                     67,980                     70,019  
Legal and Professional Services                            96,000                     98,880                   101,846  
Licenses                            18,000                     18,900                     19,845  
Office Expense                            60,000                     61,800                     63,654  
Rent or Lease -- Vehicles, Machinery, Equipment                            42,000                     43,260                     44,558  
Rent or Lease -- Other Business Property                          240,000                   247,200                   254,616  
Repairs and Maintenance                            60,000                     63,000                     66,150  
Supplies                            60,000                     61,800                     63,654  
Travel, Meals and Entertainment                          144,000                   148,320                   152,770  
Utilities                          600,000                   618,000                   636,540  
Miscellaneous                                      -                               -                              -  
Other Expense 1            
Other Expense 2            
Total Operating Expenses  $              43,973,500 3%  $     45,297,865 3%  $     46,662,219 3%
Income (Before Other Expenses)[1]  $           412,771,686 31%  $   456,645,719 31%  $  504,161,831 31%
Other Expenses            
Amortized Start-up Expenses                     19,833,333              19,833,333              19,833,333  
Depreciation                     12,535,714              12,535,714              12,535,714  
Interest            
Commercial Loan                                     -                               -                              -  
Commercial Mortgage                                     -                               -                              -  
Credit Card Debt                                     -                               -                              -  
Vehicle Loans                                     -                               -                              -  
Other Bank Debt                                     -                               -                              -  
Line of Credit                                     -                               -                              -  
Bad Debt Expense                                     -                               -                              -  
Total Other Expenses  $              32,369,048 2%  $     32,369,048 2%  $     32,369,048 2%
Net Income Before Income Tax  $           380,402,639    $   424,276,671    $  471,792,783  
Income Tax  $              140,082,590    $      155,438,501    $     172,069,141  
Net Income/Loss  $           240,320,048 18%  $   268,838,169 18%  $  299,723,642 19%
Income Tax Calculations Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Total
Taxable Amount Year 2  $                37,009,167 ########  $        37,009,167 ########  $       37,009,167 ######### ######### ######### ######### ######### ######### #########  $ 444,110,004
Total  $                37,009,167 ########  $      111,027,501 ########  $     185,045,835 ######### ######### ######### ######### ######### ######### ######### ##########
Income Taxes  $                12,953,208 ########  $        12,953,208 ########  $       12,953,208 ######### ######### ######### ######### ######### ######### #########  $ 155,438,501
Taxable Amount Year 3  $                40,968,843 ########  $        40,968,843 ########  $       40,968,843 ######### ######### ######### ######### ######### ######### #########  $ 491,626,116
Total  $                40,968,843 ########  $      122,906,529 ########  $     204,844,215 ######### ######### ######### ######### ######### ######### ######### ##########
Income Taxes  $                14,339,095 ########  $        14,339,095 ########  $       14,339,095 ######### ######### ######### ######### ######### ######### #########  $ 172,069,141
[1]

Also known as EBITDA (Earnings Before Interest, Taxes,  Depreciation and Amortization). This metric allows for a comparison across different businesses, which might have different levels of taxes, depreciation, or interest. This number should be used in conjunction with other metrics, as it does not give a full picture of the health of the business.