See the attached.
may upload your homework up until that time. Assignments submitted later than 24 hours will receive no credit.  Submit a draft of the following section of your Business Plan for review.  Keep in mind that some categories may not apply to your business.  The assignment questions are a guide for your research.  Please submit the financial statements using Microsoft Excel files only (if you use google docs, you will need to download them and save them as Excel files).  I have provided you with a blank template for the Cash Flow Statement  Download Cash Flow Statementand Income Statement.   Download Income Statement. Please use these files to complete the assignment.  Submit a Microsoft Word document with the notes of your calculations only. You will be creating 2 years of Cash Flow Statements and Income Statements  for your business.  This will require you to research revenue and costs related to your business and industry.   You will find a file that contains notes on how to estimate Revenue and Expenses and notes on how the attached Income Statement and Cash Flow Statement were created.  Please review all three files prior to beginning the statements for your company.  Please note that you must use your research to create these financial statements for your company, not simply edit the statements listed below.  Access the Research Guide for Business for more detail in helping to develop your financial statements. Notes for Cash Flow and Income Statement Download Notes for Cash Flow and Income Statement Sample Income Statement from ABC Printing Co 2022 Download Sample Income Statement from ABC Printing Co 2022 Sample Cash Flow from ABC Printing Co. 2022 Download Sample Cash Flow from ABC Printing Co. 2022 Requirements: You will need to submit three files for this assignment.  One Microsoft Excel file that contains two years of Cash Flow Statements, One Microsoft Excel File that contains two years of Income Statements, and One Microsoft Word file that contains the notes that explains how you calculated your revenue, expenses, cash receipts, and cash disbursements. Use the excel templates below to create your financial statements.  Please add all sources of revenue and expenses to the income statement template and cash receipts and cash disbursements to the cash flow template:   BUSN 251 Income Statement Template for Financial Statements – Download and use this file for Income Statement Download BUSN 251 Income Statement Template for Financial Statements – Download and use this file for Income Statement BUSN 251 Cash Flow Template for Financial Statements – Download and use this file for Cash Flow Statement Download BUSN 251 Cash Flow Template for Financial Statements – Download and use this file for Cash Flow Statement    Use a Microsoft Word document to create a set of notes that outlines how you calculated your revenue and expenses for your financial statements. Use the templates provided for the Income Statement and Cash Flow to create your financial statements. Financial Plan Pro Forma Financial Statements – 2 years of cash flow, and 2 years of Income Statements Start with estimating your revenue – more information can be found by viewing “Notes for Cash Flow and Income Statements” Once you have estimated revenue, use this link for BizStats (Links to an external site.).     Not only can you find more information on industry benchmarks, you can customize an income statement based on your industry.   Enter your estimated revenue in the “Annual Sales” Box Choose Sole Proprietorship Click submit Chose the industry category related to your business (Please note that you may have to use a broad industry category in order to get an estimate). Chose the subcategory related to your business (if available) Review the Income/Expense Statement generated based on the information you provided. This report can be used to create your businesses Cash Flow and Income Statements.  Keep in mind that this report will give you a general list of expenses, you should revise the list based on your individual business.  Provide a specific breakdown for each expense rather than combining expenses together (for example rather than a general category of insurance, provide a separate listing for each type of insurance needed in your business) Notes for Financial Statements – review the Notes for Cash Flow and Income Statement provided above for the sample statements so that you understand what must be provided in this section.  how did you calculate your financial data (how did you calculate sales and expenses — include resources)? Use the link for BizStats above to review benchmarks for your industry.  You will find general information on what expenses other companies typically incur which will help you to identify potential expenses for your business.  You will also find a breakdown of what percentage of sales a company typically spends on these expenses. what sources did you use to help with those calculations? Start-up funding How much is needed? What is the source of the funding? Include your start up funds (either your own savings or a loan) on your Cash flow statement as beginning cash in Year One (if you are taking a loan, don’t forget to include loan payments on your cash flow statements)