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(see attached files)<br>
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Earlier in this course, you chose a type of business and form of ownership for your company. You’ve also come up with a mission statement, values and vision statement, and corporate goals. The final step is to create a Profit and Loss Statement (AKA, Income Statement) based on your business. <br>
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STEP 1: Review the Profit and Loss video to learn how to create your Profit and Loss Statement. <br>
STEP 2: Open and save the Profit and Loss Statement template. Answer each question and scenario below using the template and figures as your guide.<br>
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1. Set up the attached Profit and Loss Statement for your business according to the Profit and Loss video.<br>
2. After determining what your net profit is for the year, increase revenue for half of the year by 20% and raise expenses in each category by 5%.<br>
3. Increase cost of goods by 25% and analyze how this affects your net profit.<br>
4. Write a one page summary of your projected expense increase based on your analysis. How does this affect your staff, productivity or salaries?<br>
5. Assume that your insured clients will now pay ½ of what they did for your product/service for 2011. How will this affect your bottom line?<br>
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Save your file in the Rich Text Format (.rtf). <br>
Assignment consist in 1 Excel and 1 Page summary