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{"sheet":"Project Data","index":0,"n_rows":43,"n_cols":15,"rows_kept":43,"cut":false,"hidden":false,"merged":[[42,8,43,15],[34,8,35,15],[28,8,32,15],[37,8,40,15],[0,0,54,0],[0,1,0,5],[0,7,0,15],[14,8,18,15],[20,8,22,15],[24,8,26,15]]}
[{"$f":"'Project Data'!B","v":{"$error":"#NAME?"}},"Financial Statement Information",null,null,null,null,null,"Other Information that may be useful for Ratio analysis, CVP Analysis and the 2016 Cash Budget"]
[null,{"$f":"studentname","v":{"$error":"#REF!"}},null,null,2016,2015,null,"Other Info",null,{"$f":"L2+1","v":2016},null,2015,null,{"$f":"L2-1","v":2014}]
[null,"Accounts payable",null,null,27106,27106,null,"# of Common Stock",null,250000,"shares",250000,"shares",250000,"shares"]
[null,"Accounts receivable",null,null,67000,66500]
[null,"Depreciation expense",null,null,38000,38000,null,"Market share price",null,2.9,"per share",2.25,"per share"]
[null,"Cash",null,null,45501,45000]
[null,"Share Capital - common stock",null,null,100000,100000,null,"Opening Accounts Receivable 2015",null,null,null,76000]
[null,"Net Sales",null,null,690000,540000]
[null,"Notes payable",null,null,17000,55000,null,"Income tax rate",null,0.25,null,0.25]
[null,"Prepaid expenses",null,null,14000,14000]
[null,"Office Equipment",null,null,255500,255500]
[null,"Salaries & Commissions expense",null,null,216000,180000]
[null,"Office overhead expenses",null,null,4905,4905,null,"General:","Assume for budgeting purposes that the loan was approved and provided to your group January 1, 2017."]
[null,"Supplies Expense",null,null,13800,10800]
[null,"Subcontracting expenses",null,null,20722,19545,null,"Sales:","Average revenue per placement is expected to stay the same for 2017 at $15,000 per placement.  However the number of placements are expected to increase by 15% in 2017.  The strongest months are September and March where 16% of the annual business is done each of those months.  The slowest months are June, July and December where 4% of the annual business is done in each of those months.  The rest of the business is spread out evenly over the rest of the months."]
[null,"Professional Fees",null,null,9111,9111]
[null,"Advertising Expenses",null,null,16590,16590]
[null,"Misc. Expense",null,null,26871,26871]
[null,"Direct Wages and Expenses",null,null,276000,216000]
[null,"Common Stock Dividends",null,null,50000,20000]
[null,"Accrued Liabilities",null,null,10667,10667,null,"Collections:","Sales are all sold on account.  50% of sales are collected in the month after the sale, 25% in the second month after the sale and 25% in the 3rd month after the sale.  Assume all sales are collected (no bad debts).  For closing 2015 accounts receivable assume 50% will be collected in January and 50% in February."]
[null,"Accumulated Depreciation",null,null,159000,121000]
[null,"Income Tax Expense",null,null,17000,4545]
[null,"Opening Retained Earnings 2014",null,null,null,73594]
[null,null,null,null,null,null,null,"Direct Wages:","Direct wages in 2017 are expected to continue to be 40% of sales. LFPA pays their employees semi-monthly such that 50% of the wages are paid in the month they are earned and 50% are paid in the month following the month in which they are earned.  Accrued liabilities at the end of 2016 represents the amount of direct wages that will be paid in January 2017."]
[]
[]
[]
[null,null,null,null,null,null,null,"Other Expenses:","The cost behaviour for all expenses is expected to remain the same for 2017 as they were for 2016 and 2015.  Note that some of these expenses are fixed in nature, some are variable and some are mixed.  In addition, assume that these expenses are paid in the month they are incurred (other than the payment pattern for direct wages which is described above).  Fixed expenses should be allocated evenly over the 12 months, variable expenses will vary each month based on sales. Mixed expenses need to be separated into their fixed and variable components and then allocated accordingly.  Income tax expense is calculated as net income before taxes (revenue minus expenses) times the income tax rate.  For the 2017 cash budget assume that the estimated income tax expense for 2017 will be paid in 12 equal monthly instalments."]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,"Dividends:","Your group expects to pay out dividends of $15,000 to each owner (5 group members=5 owners, 6 group members=6 owners).  Dividends are expected to be paid out in July 2017."]
[null,null,null,null,{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,null,null,null,{"$f":"VLOOKUP(#REF!,#REF!,4)","v":{"$error":"#REF!"}}]
[null,null,null,null,null,null,null,"Financing:","For the purpose of the budget assume the interest rate negotiated on the $500,000 loan is 5% is payable monthly and should be considered a fixed expense for 2017.  In addition there are no payments to pay down the loan in 2017.  Loan principal payments are to start in 2018 at an amount of $8,500 per month.  Assume that the note payable balance at the end of 2016 will be paid off in January 2017 using money received from the loan (so there will be no interest expense related to the note payable going forward)."]
[]
[]
[]
[]
[null,null,null,null,null,null,null,"Equipment:","In December of 2017 LFPA is expecting to replace some computer equipment in the office and invest in new HR software.  The expected cost is $75000.  Assume it will be paid in cash when purchased and there will be no change to the depreciation expense in 2017."]

{"sheet":"Income Statement","index":1,"n_rows":6,"n_cols":6,"rows_kept":6,"cut":false,"hidden":false,"merged":[[1,0,1,5],[2,0,2,5],[3,0,3,5]]}
[]
["Leap Forward Placement Agency"]
["Income Statement"]
["For the Year Ended December 31st"]
[null,null,{"$f":"'Project Data'!E2","v":2016},{"$f":"'Project Data'!F2","v":2015},null,{"$f":"'Project Data'!E2+1","v":2017}]
[null,null,null,null,null,"(projected)"]

{"sheet":"Statement of Retained Earnings","index":2,"n_rows":5,"n_cols":4,"rows_kept":5,"cut":false,"hidden":false,"merged":[[1,0,1,3],[2,0,2,3],[3,0,3,3]]}
[{"$f":"'Project Data'!B2","v":{"$error":"#REF!"}}]
["Leap Forward Placement Agency"]
["Statement of Retained Earnings"]
["For the Year Ended December 31st"]
[null,null,{"$f":"'Project Data'!E2","v":2016},{"$f":"'Project Data'!F2","v":2015}]

{"sheet":"Balance Sheet","index":3,"n_rows":5,"n_cols":4,"rows_kept":5,"cut":false,"hidden":false,"merged":[[1,0,1,3],[2,0,2,3],[3,0,3,3]]}
[]
["Leap Forward Placement Agency"]
["Balance Sheet"]
["As At December 31st"]
[null,null,{"$f":"'Project Data'!E2","v":2016},{"$f":"'Project Data'!F2","v":2015}]

{"sheet":"Ratios","index":4,"n_rows":34,"n_cols":12,"rows_kept":34,"cut":false,"hidden":false,"merged":[[30,11,31,11],[31,5,31,6],[15,2,16,3],[15,5,15,6],[15,8,16,8],[15,9,16,9],[15,11,16,11],[16,5,16,6],[19,5,19,6],[27,11,28,11],[24,11,25,11],[21,11,22,11],[18,11,19,11],[0,0,43,0],[3,2,4,3],[3,5,3,6],[3,8,4,8],[3,9,4,9],[4,5,4,6],[6,2,7,3],[6,5,6,6],[6,8,7,8],[6,9,7,9],[7,5,7,6],[30,2,31,3],[30,5,30,6],[30,8,31,8],[30,9,31,9],[9,2,10,3],[9,8,10,8],[9,9,10,9],[10,5,10,6],[9,4,9,7],[27,2,28,3],[27,5,27,6],[28,5,28,6],[21,2,22,3],[21,5,21,6],[22,5,22,6],[24,2,25,3],[24,5,24,6],[18,2,19,3],[18,5,18,6],[18,8,19,8],[18,9,19,9],[12,8,13,8],[12,9,13,9],[13,5,13,6],[21,8,22,8],[24,8,25,8],[21,9,22,9],[3,11,4,11],[6,11,7,11],[9,11,10,11],[33,2,34,3],[33,5,33,6],[33,8,34,8],[33,9,34,9],[34,5,34,6],[24,9,25,9],[25,5,25,6],[12,2,13,3],[12,5,12,6],[12,11,13,11],[33,11,34,11],[27,8,28,8],[27,9,28,9]]}
[null,null,{"$f":"'Project Data'!B2","v":{"$error":"#REF!"}}]
[]
[null,null,null,null,null,null,null,null,{"$f":"'Project Data'!E2","v":2016},{"$f":"'Project Data'!F2","v":2015},null,"Industry"]
[null,null,"Current Ratio",null,null,null,null,null,null,null,null,2.67]
[]
[]
[null,null,"Quick Ratio",null,null,null,null,null,null,null,null,2.4]
[]
[]
[null,null,"Gross Margin",null,null,null,null,null,null,null,null,0.46500000000000002]
[]
[]
[null,null,"Return on Shareholders Equity",null,null,null,null,null,null,null,null,0.27200000000000002]
[]
[]
[null,null,"Receivable Turnover",null,null,null,null,null,null,null,null,5.89]
[]
[]
[null,null,"Average Collection Period",null,null,null,null,null,null,null,null,62]
[]
[]
[null,null,"Earnings Per Share",null,null,null,null,null,null,null,null,1.25]
[]
[]
[null,null,"Dividend Yield",null,null,null,null,null,null,null,null,0.04]
[]
[]
[null,null,"P/E Ratio",null,null,null,null,null,null,null,null,6.2]
[]
[]
[null,null,"Debt to Equity Ratio",null,null,null,null,null,null,null,null,1.3]
[]
[]
[null,null,"Return on Assets",null,null,null,null,null,null,null,null,0.11700000000000001]

{"sheet":"Module1","index":5,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":true,"merged":[]}

{"sheet":"CVP Analysis","index":6,"n_rows":23,"n_cols":9,"rows_kept":23,"cut":false,"hidden":false,"merged":[[0,0,51,0],[0,1,0,2],[2,2,2,8],[3,2,3,8],[4,2,4,8]]}
[null,{"$f":"'Project Data'!B2","v":{"$error":"#REF!"}},null,null," "]
[]
[null,null,"Leap Forward Placement Agency"]
[null,null,"Breakeven and Target Profit Calculations"]
[null,null,"(show your work)"]
[null,null,null,null,null,null,null,null,{"$f":"'Income Statement'!F5","v":2017}]
[null,null,null,null,null,null,null,null,"projected"]
[null,null,"Variable expenses per placement"]
[]
[null,null,"Fixed Expenses in total"]
[]
[null,null,"Annual Breakeven in placements sold"]
[]
[null,null,"Annual Breakeven in $"]
[]
[null,null,"# of Placements for after tax target profit of",null,null,null,200000]
[]
[null,null,"# of Placements for after tax target profit of",null,null,null,400000]
[]
[null,null,"# of Placements for after tax target proift of ",null,null,null,600000]
[]
[null,null,"10% increase in sales for 2017 will mean what % increase in 2017 net income"]
[null,null,"  (before taxes)"]

{"sheet":"Cash Budget","index":7,"n_rows":36,"n_cols":17,"rows_kept":36,"cut":false,"hidden":false,"merged":[[0,4,0,16]]}
[{"$f":"'Income Statement'!F5","v":2017},null,null,null,"Leap Forward Placement Agency"]
[null,null,"Month",null,"January","February","March","April","May","June","July","August","Sept","Oct","Nov","Dec","Total"]
[null,null,"% sold each month ==>",null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(E3:P3)","v":0}]
["Opening Cash Balance"]
["Inflows"]
["Collections current month"]
["Collections first month"]
["Collections second month"]
["Collections third month"]
[]
[]
[]
[]
["Total Inflows"]
[]
["Outflows"]
["Payment current"]
["payment 1st month"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
["Total Outflows"]
["Net Cash Flow"]
["Cash Balance"]