Bachelors Capstone Final Project

Table of Contents


Executive Summary. 3

Code of Conduct 7

Structure, Management, and Leadership. 10

Best Practices, Quality, and Performance Management 13

Operations. 16

Promotion, Legal Protection, and Distribution. 18

Information Management, Planning, and Control 23

Financial Analysis and Control 25

References. 27

Appendix. 29



Executive Summary

Organizations dream of improving their productivity and performances by enhancing their effectiveness and efficiency which can only be achieved through transparency and accountability. The employees of these organizations, the general public, and the government evaluate the performance and growth of these organizations by looking at the summary of their accounting books. Therefore, companies and enterprises have to ensure that their books of accounts are regularly updated, and all business transactions are correctly entered in these books to avoid CRA audits, dodge CRA penalties and to ensure that the management does not miss deductions. Moreover, proper and accurate bookkeeping techniques help to keep a clear and clean picture of an organization’s financial health which is key to attracting investors. On the other hand employees and the general public are increasingly becoming aware of the importance of effective and efficient office management technique (Morelli & Lecci, 2013)). The designing, implementation, and maintenance of the process of work within an office influence the quality of the service or product offered to the customers. Therefore, proper and appropriate office management practices will help an organization in achieving their long term and short term targets, guarantee optimum use of resources and minimize the production cost in the company.

Type of Business

G-10 holdings will be a company specializing in the provision of bookkeeping and office management services to the existing and potential customers. Therefore, the company will provide customers with either an All-in-one software that can help make everyday tasks easier or implementing an onsite trainer that will create offices procedures and systems to help the business run more effectively and efficiently. Additionally, the company will seek to help other firms and organizations who are unable to promptly update their financial transactions to uphold the accountability and transparency of their organizations. Therefore, G-10 Holdings will be responsible for recording customer’s sales, receipts as well as individual and organizational payments. On the other hand, the office management services provided by the company will make sure that the designing, implementation, evaluation and the maintenance of the work process in the customer’s organizations are taken care of to improve their performance and productivity to attract a large customer base.


G-10 holdings are aspiring to create a work environment where employees can grow and find freedom to fulfill their potential. The company is focused on creating a unique and inspiring atmosphere where the goal is to build knowledge, skills, and pride in the bookkeeping and office management field. The employees know and understand that every practice and session with customers is important to our clientele and help envision the end product to deliver the utmost pleasure and customer experiences in improving the effectiveness and efficiency of their organizations. G-10 Holdings has developed such pride in their work, which is their honor to help customers build transparent and accountable enterprises that can compete effectively in a highly volatile market.


G-10 Holdings will be based in Dallas, Texas before eventually moving to other cities and states as the business grows. With no corporate or income tax, a relatively relaxed regulatory environment and booming growth in several major cities, Texas presents the ideal place to start the business. As a result of these much-needed incentives that creates a business-friendly environment and the increased awareness of the advantages of outsourcing, Texas will supply constant customers, and the location is expected to grow and develop exponentially in the next few years. A recent study showed that Texas is a very much a can-do state and arguably the number one state to do business in as well as number one state to start a business right now. The company has leased an entire floor on the 18th street where all the company operations will be planned and executed before eventually providing and supplying them to our esteemed customers.


The company will be open seven days a week. All sessions and service delivered to the customers will be by appointment. However, walk-ins are welcomed but are advised of customer wait times since the company policy prioritizes appointments. Appointments can range from 20 minutes to two hours depending on the demands and needs of the customer. The customers have the power and authority to choose the services they want by giving full details of what they need and their expectations. The paramount aspect of the company that makes it unique among competitors is the fact that the company provides an opportunity to customers to choose whether they want permanent or temporary services. The company acknowledges the importance of accurate and updated bookkeeping practices and appropriate office management thus giving customers an opportunity to personalize their services.

Competitive Advantage

The best way to create and develop a competitive advantage is to integrate and interact with the locals fully and not only to grow the business but also to participate in the economic growth of the community. Therefore the company focuses on supporting and participating in the local development and social programs will gain favor by consumers which can be utilized by the company as a form of free marketing. Offering the quality services at an affordable price and developing customer loyalty will enhance the success of the company and make G-10 holding a household name.

Marketing strategy

An appropriate market strategy depends on the valuable market research. Therefore, the marketing department of the company needs to understand the market forces and competitors in the industry. Therefore, the company will invest in market research to determine and establish what competitors are using to provide their services and how the cost breakdown compared to the current usage company (Tricker, 2011). The advertisement for local signs, mailers, and coupons will allow for discounted publicity and public awareness of the company services.

Initial financing

The initial startup items include an office, furniture, and hardware, accounting or bookkeeping software as well as inventories of different papers. Additionally, the company should ensure that there is cash available in liquid form to help finance the company operations during the initial stages. As a result, the initial start-up finance will come from the shareholders who will contribute to the best of their abilities.

Start-up personnel

Upon initial startup, the company has Raymond Morgan, Jayne Doe, Debra Morgan, John Paul, and Susan Kelly as the initial start-up personnel lead the company personnel before the selection and recruitment process to find the best talents in the market. Raymond Morgan and Jayne Doe acted as the general manager and assistant manager respectively to get the company going and before the company can fully settle.

Code of Conduct

Mission statement

G-10 Holdings is committed to helping our clients, and people excel and grow to greater heights eventually attracting a large customer base and improving customer loyalty.G-10 Holding thrives on the continuous repeat business of our customers while developing a mutual relationship with our clients.


G-10 Holding code of conduct

Ethical principles

  1. Honesty we act with utmost honesty in all our transactions Integrity – we operate with integrity in everything that we do.
  2. Professionalism – we act within the set rules, regulation and in the spirit of relevant laws.
  3. Competence – we incorporate the appropriate abilities and knowledge to serve the demands and needs of our clients.
  4. Objectivity – we are objective in advising our customers on the best practices for their entities.
  5. Confidentiality – we respect the privacy of information and data regarding our customers.
  6. Fair business practices – we are committed to providing unbiased business practices across all levels of the society.
  7. Responsibility to the community – we respect and appreciate the impact we have on the environment, people and world that we operate in.
  8. Respect and fair treatment – we give all our employees equal opportunities and chances with courtesy and fairness.
  9. Accountability and decision making – we lead by example by applying our shared values in everything that we do.

Shared values

Our shared values within the company should unite us and use our diversity to make us one big and the strong team moving in one direction. Our strength and motivation are based on our culture, commitments, and dedication to sharing information, trust and assisting each other in the work processes and procedures. Our shared values are based on:

  1. Integrity
  2. Dedication to each other
  3. Strength from diverse community and culture
  4. Outstanding value and commitment to our clients and market

Who should follow our code?

We expect and encourage all our members of our workforce as well as members of the board of directors to read, understand and follow the code. Notably, failure to follow any of the rules and regulations set forth by the company can result in a disciplinary action taken against any member of staff or board including suspension or in the worst case termination of their services. Irrespective of the fact that the code is written specifically to G-10 Holding employees we expect all contractors, consultants and other temporary workers working for our organization to observe and follow our code of conduct.

No retaliation

G-10 Holding abolishes any retaliation against any member of our working force who reports or directly or indirectly participates in an investigation regarding violation of our rules and regulations as well as the laws guiding our operations.

Serve our clients

Clients will not only value us for our products and services but also because we hold ourselves at a higher level on how we deliver our products and services, how we treat them as well as how we operate and treat each other.  As a result, integrity, privacy, security and responsiveness should be our priority.

Avoid conflict of interests

We should all think of the consequences of our actions especially in occasions where we are in dilemma of making hard questions that can either benefit us personally or those that would benefit the company or the client.  In such situations, we should all put the interests of our company and clients ahead of our personal interest for us to compete effectively in the markets and provide high-quality products and services.


Structure, Management, and Leadership

Business structure

G-10 holdings is a Constrained Liability Company (LLC). The shareholders of the organization can’t be held at risk for the organization obligations or liabilities, but they had to sign a special written agreement detailing the overall organization of the company (Tricker, 2011). This special agreement includes details such as the provisions, powers, and duties of the management, assignability or the company interests and the distribution of profits and losses among the owners of the company. The company will initially be formed by five members who contributed the startup capital as follows:

a.       Raymond Morgan – 45 percent

b.      Jayne Doe – 15 percent

c.       Debra Morgan – 20 percent

d.      John Paul – 10 percent

e.       Susan Kelly – 10 percent

All decisions regarding the company operations and investment must run through all shareholders to make sure that there is equal power sharing and that all the operations run smoothly.  Additionally, the company registered with the internal revenue services, state and local income offices and to get a duty ID number before the opening of the business. The members’ percentage interest in the business is based on the percentage of contribution of the startup capital of the organization. Therefore, all the profits and loses realized during the operations are equally shared among the shareholders by their percentage contribution.  Moreover, each 10 percent of the initial startup capital carries one voting power.  Besides, all shareholders actively participate in the selection of the management of the organization considering that the entity must be treated as a separate legal entity (Mancuso, 2011). Occasionally, the shareholders actively participate in the running of the business only through voting during the general meeting or any meeting that requires their undisputed attention. Also, every company meeting is communicated in person or through emails two weeks before the meeting date.

The management of the business

To maintain the best interest of the company at heart and to ensure that there is no conflict between personal and company interests, the company adopted the manager-management technique. Therefore, shareholders appointed a team of professionals to run and their company on their behalf. However, Debra Morgan is part of the management team acting as the chief executive officer, to keep an eye on the operations of the entity. The handling of the daily operations of the company is delegated to non-members who must be evaluated and selected by the shareholders (Flattau, n.d.). On the other hand, the board of directors of the company controls the affairs of the company and is made of the shareholders thus making them passive managers of the business. This management technique gives them an ample time to concentrate on activities that help to build the business.


The leadership of the company

To get the best out of the employees, the company uses democratic leadership approach where both the management and employees actively participate in the decision-making of the daily operations of the business. Therefore, subordinate contribution to the overall management of the operations is important as their suggestions and opinions are put into consideration before arriving at the final decision. As a result, there are clear and smooth communication channels both upward and downward to make sure that there is a free flow of information both ways (Spaulding, 2008).  However, on making special decisions affecting the running of the business such as the hiring and firing of employees, the management has adapted autocratic leadership since such important matters of the business cannot be left in the hands of the every employee. Therefore, the company will use both autocratic and democratic leadership styles.

Team concepts in the organization

The management encourages the creation and development of both formal and informal teams in the organization since they motivate individual employees to participate in the operations of the business fully. Each department of the company acts as a formal team with a capable team leader who oversees the operations and evaluates the performance of his or her team. However, to increase the competitiveness of the different teams in the organization, the management awards the best performing team both monetary and non-monetary based on the results realized. The management closely monitors the teams to ensure that they give the best quality and quantity products and services irrespective of their competitiveness to improve the company’s competitive position in the market.




Best Practices, Quality, and Performance Management

The concept of best practices

G-10 holdings best practices consist of guidelines, ethics, and concepts that represent the best and most efficient course of action based on the current circumstances surrounding an organization. The best practices consistently show superior results that are achieved both at the individual and organizational level through the formulation of the governing body or the selection of the best management team depending on the current status of the business. However, these practices will be changing with changes in the demands and needs of the customers as well as changes in demand for the company services (“Understanding Best Practices,” 2014. These practices encompass sharing of information with all department heads for benchmarking purposes and ensuring that the entire organization is on the same page concerning customers’ tastes and preferences. These best practices involve doing things smarter to lead to greater and superior performance and to achieve consistent top quality results.

Quality management

Customers are increasingly becoming value based which means that the organization needs to maintain high-quality services to attract new customers as well as retain the existing ones. Quality management policies adopted by the company consist of all activities undertaken to monitor and control the desired level of excellence in all operations. The quality manager is responsible for determining the quality policy, formulating and implementing quality planning assurance, controlling the quality of the organization output as well as improving the quality of all outputs from the organization. The company is committed to focusing on finding ways to improve the quality of the services through research. Some of the quality management policies adopted by the company include:

a.       Tracking mistake by defining what is quality and remains committed to quality through comparing and contrasting the final product from the company and the definition of quality (Garcia, 2009).

b.      The quality manager has created training programs to enrich his employees on how to improve and control the quality of the services using the latest technology in the market and as per consumers demand.

c.       The quality manager has organized quality circles where employees meet to identify and establish a problem in the quality of the services provided as well as suggesting the best way to handle these problems.

Performance management

It is the duty of the human resource manager to ensure that the workforce at his disposal work at the highest level possible and give their best to the organization. The management and the workforce cooperate in arranging, screening and surveying representatives work goals and general commitment to the company. Vital parts of worker execution administration incorporate execution arranging, progressing execution correspondence, execution evaluation gatherings and data and information gathering, observation, and documentation. Some of the policies adopted by the company to manage the performance of individuals and organization include:

a.       Matching tasks to skills by assigning employees duties and responsibilities based on their skills and knowledge.  This makes it easy to track their performance.

b.      Implementation of reliable communication channels that makes sure information and data are readily passed to the employees and back to the management whenever necessary especially during performance review and appraisal (Chartered Institute of Management Accountants, 2014).

c.       The human resource manager identifies, praises and rewards A-performing employees as a way to encourage performance improvement from other employees.  Rewards help to motivate other employees willing to be at the top of the chart.





Business flow

The company utilizes collaboration Customer relationship management to guide all the company transactions. G-10 Holdings provides services such as recording of all financial transactions in a company such as sales, receipts, and payments as well as designing, implementing, evaluating and maintaining of the work processes within a firm. Collaborative business flow enables the company to share clients’ data among different specialty units, such as deals group, promoting the group and bolster groups. The free flow of information across all business units and department of the organization ensure that workers are better information of what is expected of them and what different customers want and needs.

Organization processes and procedures

Organizational processes and procedures focus on organizing, planning and directing. G-10 Holdings process and procedures involve figuring out what work is expected to finish the objective, allocating assignments to representatives and organizing representatives in a basic leadership system. The organization utilizes essential, authoritative procedures and strategies which are end-to-end, cross-practical and convey an incentive to clients. These procedures speak to the fundamental exercises that company can perform to accomplish its mission (“Monitoring Procedures, Processes, and Procedure ↠ Process Relationships,” n.d.). The chief executive officer of the company is the overall head of the company who must approve transactions and policies before they can finally be put to use.  In his absence, the top ranking manager takes over the management responsibilities to oversee the running of the operations.  Department heads are in charge of their departments and should report to the human resource manager who should report to the general manager.

Service business flow

Any customer with the desire to work with our company makes calls to the support team to place their appointments, orders, and inquiries. Additionally, walk-ins are welcomed to the company headquarters to place their orders in person. After making the appointment, the support team transfers the basic information about the client to other departments in preparation to serve them. On the agreed date and time, the company sends a team of expert to the client’s organization to offer their services as requested (“Understanding service business,” n.d).  After the completion of the tasks, the customer has the responsibility to certify that the services provided are up to the standards and as required. The final step involves the compensation of the services provided through cheque since the company policy prohibits any cash transaction.




Promotion, Legal Protection, and Distribution

Economic Differences

China’s economy is built on a socialist market economy while the United States remains a capitalist country. In China, most of the assets and properties are communally owned or rather owned by the government which issues utilization contracts to organizations and individuals as opposed to the United States where properties and assets are privately owned forcing the government to purchase goods and services from the private sector (Gaige, 2011).

China is having the largest economy from the end of 2014 as the country’s GDP for 2014 was $ 17.63 trillion. Before 2014, the US had the largest economy with a GDP of $ 17.42 trillion as a result of an increase in the Chinese population and high rates of employment both in public and private sectors thus contributing to the increase of the country’s GDP.


Exportation focuses on selling the company’s services to the foreign countries.  To succeed in exporting services, the company has focused on seeking out local buyers who represent foreign end-users or consumers. In this strategy, the management reduces the risks associated with the exporting considering that the domestic buyer who represents a foreign company assumes the risks and handles the details of exporting.  These domestic buyers constitute a large market for a wide variety of services.


Value Creation in the Global Context

Large multinational companies are prominent players in GVCs which improves competition in the market which leads to more exports and imports in a country which enhances the growth of global value chains (GVCs) by integrating and interconnecting economies. Imports are essential for exports in complex value chains such as transport as exports allow for the creation of thousands of bilateral and multilateral regional investment agreements that promotes trade which encourages trade among countries (Collom, Lasker, & Kyriacou, 2012). Additionally, exporting and importing leads to lowering of investment barriers in an efficient manner enabling countries to be integrated with GVCs. However, to realize the full advantages of global speculation, venture advancement and help strategies need to concentrate on exercises attempted in GVCs as opposed to on enterprises.


To gain attract customer and retain the existing one, the company needs to focus on product and service promotion and advertisement to create awareness among customers.  The company will use the following promotional strategies.

a.       Website promotion – this promotional technique helps to increase exposure of a website to bring more visitors and in the process increase the traffic.  Additionally, the company can avail all the important information regarding their services to attract customers. G10 Holdings will be creating their website, by using a business builder website from Yahoo. The service is affordable, $7 a month and the product is user-friendly.

b.      SEO services – Search engine optimization concentrates on impacting or rather influencing the perceivability of a site or a site page in a web internet searcher’s unpaid outcomes (Dover & Dafforn, 2013). This method expands various guests to a site by acquiring a high-positioning arrangement on the item page and can be utilized a method for advancing an association’s items and administrations.

c.       Social media – websites such as Google+, Instagram, Twitter, and Facebook, among others offer the firm a way to promote services and products in a more relaxed setting. The pricing varies on how much the business wants to spend, how many people they would like to reach and how far of an area they want to reach.

All three categories tie into each other in one way or another. The website helps show customers who you are, what your offering and how you can help them. The SEO service helps your website appear in popular search engines such as Google and promote your page, so it ranks high. The average user tends to click on the top search results (Lomborg, 2014). First, SEO service will help your page be one of the top sites. Social media has also become more popular to promote business. It is easy to use and can reach a lot of potential customers.

Legal Protection

To protect the company’s products and services as an original creation, the management has adopted three legal protection strategies that include:

i.            Registering the Trademark – this involves the registration of a distinctive design, logo, symbol or words that will help to uniquely identify the company and its brands and distinguish them from those of the competitors.

ii.            Copyrighting – Copyrighting encompasses creating a legal right by the law of a region to grant the company exclusive rights for its use and distribution as the original creators (Surwillo, 2007).

iii.            Patenting – Patenting encompasses the creation and development of exclusive rights granted by a nation or a state to a company as the inventor for a limited period in exchange for a detailed public disclosure of an invention.

Distribution Plan

The marketing department of the company will be in charge of distributing company services through:

1)      Online Distribution – Online distribution will feature the removal of intermediaries or disintermediation, while still reaching broad groups of potential consumers. Therefore, the organization can conduct all the transaction directly with customers over the internet.

2)      Mail Order Distribution – Mail order will be used as a low-cost distribution approach and a convenient method for reaching consumers. Consumers will receive their services in the mail as agreed in the contract (Fernley, 2009).

3)      Direct Sales – Direct Sale is an approach that will help distribute the product effectively and efficiently as it allows access to the customer which helps to establish a personal relationship with the consumer along with keeping all revenues under control.




Distribution Plan

The marketing department of the company will be in charge of distributing company services through:

  • Online Distribution – Online distribution will feature the removal of intermediaries or disintermediation, while still reaching broad groups of potential consumers. Therefore, the organization can conduct all the transaction directly with customers over the internet.

2)      Mail Order Distribution – Mail order will be used as a low-cost distribution approach and a convenient method for reaching consumers. Consumers will receive their services in the mail as agreed in the contract.

3)      Direct Sales – Direct Sale is an approach that will help distribute the product effectively and efficiently as it allows access to the customer which helps to establish a personal relationship with the consumer along with keeping all revenues under control (Cahn, 2011).



Information Management, Planning, and Control

G-10 Holdings will use software as a way of tracking the business operations and expenses, marketing, cloud storage, information backup, as well as keeping the company up and operating.  While ensuring the financial side of the company is efficient and operating at full potential, G-10 Holdings will also track customer data for reflecting on the growth of the company and to understand what part of the target market is being reached.  Some of The Information Management Systems used by the company include:

Accounting Information System (AIS)

AIS is often designed to gather, store and process financial and accounting data that is later used by management and other decision makers to make sound and well-informed decision. AIS keep track of all accounting and financial activities and transactions in conjunction with information technology resources in a company. The resulting financial reports that are created through this system can be used both internally and externally by interested parties such as investors, shareholders and tax authorities (Nicolaou, 2013). The accounting information systems include information and information identifying with income, costs, client data, and representative data and impose data. The accounting software will be connected to a secure online server to information is constantly updated and available.

Management Control Systems (MCS)

The company utilizes Management Control Systems that go past the methodologies that put more accentuation on the securing of innovation and coordination which are not adequate to give the association a supported long haul aggressive edge over its rivals. MCS encompass activities, processes, and procedures by which managers in the organization make sure that company resources are obtained and utilized effectively and efficiently. This program is important for the achievement of the organizational goals and objectives (Morelli & Lecci, 2013). Additionally, this system is designed to obtain and use information and data to evaluate the performance of different organizational resources such as human, physical and financial resources in an accepted manner. Additionally, MCS gives managers a platform where they can record company objectives, strategic plans, and moderationalism, evaluate the performance of all internal control procedures as well as show the performance of individual employees and the organization at large about the predetermined objectives and policies.

Cloud Technology

Cloud storage is a cloud computing model in which data is stored on remote servers accessed from the Internet, or “cloud.” It is maintained, operated and managed by a cloud storage service provider on a storage server that is built on virtualization technique. This storage will also help the company with the proper record keeping needed for payments and data submissions as well as recording client information and data (Chang, 2013). Cloud software tracks customer accounts, payment statuses, outstanding payments as well as invoices. Invoices include payments posted throughout the week and when the transaction was made daily, and revenue gained through each week, month, and annually. Statements will be compared to invoices to ensure transactions coincide with each form.  Any delinquent accounts are followed up on at the end of the week and handled in an appropriate manner.  Cloud technology will allow G-10 Holdings to grow while reducing the amount of hardware needed.



Financial Analysis and Control

Assets and liabilities

In the first year of business, the company will have $104,532,108.31, but it is estimated that the business will be growing at the rate of 26.38% every single year before the third year when the company will take a loan from the bank to expand its operations. Notably, the company will focus on investing in short-term investments such as research and innovations as well as human resources rather than on long-term investments considering that the company is still new and needs all the cash available to finance all its daily operations. However, as the customer base increase, the company will continue hiring the best talents in the market to match the demand and needs of the customer which will call for long-term investments. Additionally, the company prefers to take long term debts to short-term debts because of the interest rate charged by banks as well as the repayment period.

Cash flow

Net cash inflow from the company operations will be increasing as the company grows and develops.  The net cash flow from operating activities from 2018 is $175,469,506.88 which will increase to $191,229,616.14 in 2019, and this represents 8.9% growth. A significant amount of this cash flow comes from long-term debts from financial institutions in the form of commercial paper and an increase in the account. The company will focus on maintaining liquidity risk by making sure that they maintain adequate banking facilities as well as borrowing facilities by adequately monitoring and controlling projected and actual cash in the organization.

Finance and capital structure

The balance sheet at the end of the financial year July 2019, fixed capital amounted to $ 21,950,426.02 and $ 25,885,822.10 in 2020 which represents an increase.  Notably, the profit realized in the organization is equally distributed to the shareholders by their contribution to the startup capital. The profit distributed is determined by the organization’s equity accounts which are based on the accounting policies adopted by the company. However, there is a slight difference between the accounting policies adopted by the organization with international financial reporting standards on the basis if treatment of annuities and pension schemes.

Basis of accounting

The financial statement of the company has been prepared in agreement with the international financial reporting standards as adopted by the European Union for the years ended July 2018, 2019 and 2020.  The body will be required to approve these financial statements as an indication or a sign that the company has reasonable resources to continue in operations existence for the foreseeable future (Penman, 2011). Additionally, revenue indicated in these statements represents the amount of funds or equivalents that are recoverable from clients for professional services offered within the financial year. Revenue is recorded immediately after realization while expenses are recorded once they are estimated or projected.



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Startup Budget
Column1 Column2 Column3 Column4
cash needed to start actual cash spent variance
monthly costs
salary of the manager $7,000 $6,500 $500
all other salaries and wages 6,000 7,000 ($1,000)
rent 1,500 900 $600
advertising 1,500 1,900 ($400)
delivery expense 400 1,000 ($600)
supplies 500 1,500 ($1,000)
telephone 500 500 $0
other utilities 500 790 ($290)
insurance 1,800 2,000 ($200)
taxes 900 1,150 ($250)
interest 1,000 500 $500
maintainance 300 300 $0
legal and other professional fees 2,500 3,300 ($800)
misc. expenses 500 700 ($200)
subtotal $24,900 $28,040 ($3,140) 2336.667
one-time costs
Fixtures and Equipment $14,000 $12,000 $2,000
Decorating and remodeling 1,100 1,200 ($100)
Installation charges 700 600 $100
Starting inventory 5,500 3,500 $2,000
Deposits with public utilities 900 1,200 ($300)
Legal and other professional fees 500 500 $0
Licenses and permits 500 500 $0
Advertising and promotion for opening 1,000 1,500 ($500)
Cash 850 850 $0
Software Development 1,500 1,450 $50
Other* 80,000 74,000 $6,000 *training, capital to cover first few months
subtotal $106,550 $97,300 $9,250
Totals $131,450 $125,340 $6,110





 Cash Inflows
  2018 2019 2020
cash flow from operating activities      
total revenue         155,494,320.00               187,442,350.00         225,954,450.00
increase in accounts receivables           (9,098,966.82)                  (1,730,801.38)            (2,060,033.64)
increase in inventory         (14,610,004.19)                  (2,838,649.55)            (3,390,184.73)
increase in accounts payable           43,684,157.89                   8,356,717.07             9,955,345.13
net cash flow from operating activities         175,469,506.88               191,229,616.14         230,459,576.75
cash flow from investing activities      
increase in investments           (4,601,886.45)                     (385,484.04)               (417,774.70)
increase in fixed assets         (46,711,048.48)                (21,605,040.04)          (31,597,916.89)
increase in other assets           (5,516,524.21)                  (1,538,363.77)            (1,967,359.10)
net cash flow from investing activities         (56,829,459.14)                (23,528,887.85)          (33,983,050.69)
cash flow from financing activities      
long term debts           19,539,956.43                 10,559,148.76           16,265,181.06
increase in retained earnings             3,152,210.97                      355,946.03             5,741,296.28
net cash from financing activities           22,692,167.40                 10,915,094.79           22,006,477.34
net cash inflows         141,332,215.14               178,615,823.08         218,483,003.40










2018 2019 2020
000,000’s 000,000’s 000,000’s
Total Revenue         155,494.32        187,442.35        225,954.45
Cost of revenue           96,335.75        111,704.36        129,524.74
Gross profit           59,158.56          75,737.99          96,429.71
Operating Expense
Research and development                  26.00                 37.44                 53.92
Sales, General and Admin           57,632.24          76,022.11        100,280.02
Non-Recurring items                        –                       –                       –
Other Operating Items                        –                       –                       –
Operating Income           47,840.63        221,437.37     1,024,955.40
Add`l income/expenses items               (786.99)           (1,538.23)           (3,006.59)
Earning before Interest and Tax         105,518.52        761,318.15     5,492,924.93
Intrest expense             1,383.12            2,400.95            4,167.80
Earning before Tax             1,385.48            1,302.36            1,224.21
Income tax             5,324.14          12,604.12          29,838.40
Minority Interest                        –                       –                       –
Equity Earnings/ loss Unconsolidated Subsidiary                  21.13                 20.71                 20.29
Net Income. Cont. Operations                537.89               511.00               485.45
Net income                537.89               511.00               485.45
Net Income Applicable to Common Shareholders                513.52               487.85               463.45





2018 2019 2020
Current Assets
Cash and Cash Equivalents     26,087,230.01    33,425,660.85      42,828,418.47
Short-Term Investments       4,601,886.45      4,987,370.49        5,405,145.19
Net Receivables       9,098,966.82    10,829,768.21      12,889,801.85
Inventory     14,610,004.19    17,448,653.74      20,838,838.48
Other Current Assets                         –                        –                          –
Total Current Assets     52,312,156.82    62,648,725.81      75,027,738.96
Long-Term Assets                         –                        –                          –
Long-Term Investments                         –                        –                          –
Fixed Assets     46,711,048.48    68,316,088.52      99,914,005.41
Goodwill       4,893,841.35      5,583,913.29        6,371,291.07
Intangible Assets                         –                        –                          –
Other Assets       5,516,524.21      7,054,887.99        9,022,247.08
Deferred Asset Charges                         –                        –                          –
Total Assets   104,532,108.31  132,111,202.82    166,966,592.31
Current Liabilities
Accounts Payable     43,684,157.89    52,040,874.97      61,996,220.09
Short-Term Debt / Current Portion of Long-Term Debt                         –                        –                          –
Other Current Liabilities       7,805,660.81    12,350,270.17      19,540,840.52
Total Current Liabilities     49,864,579.74    60,477,635.24      73,349,547.57
Long-Term Debt     19,539,956.43    30,099,105.19      46,364,286.25
Other Liabilities     27,016,288.83    44,570,899.68      73,532,123.92
Total Liabilities     86,941,325.29  112,353,680.13    145,193,892.50
Stock Holders Equity                         –                        –                          –
Common Stocks              5,000.00             5,000.00               5,000.00
Capital Surplus     18,365,567.35    21,505,590.73      25,182,474.56
Retained Earnings       3,152,210.97      3,508,157.00        3,904,296.28
Treasury Stock      (1,837,000.00)     (1,837,000.00)       (1,837,000.00)
Other Equity      (1,969,237.29)     (3,249,959.34)       (5,363,617.55)
Total Equity     18,613,324.34    21,950,426.02      25,885,822.10
Total Liabilities & Equity   104,532,108.31  132,111,202.82    166,966,592.31



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