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Balance Sheet Pure Satellite

January 1 through December 31, 2005 Assets Current Assets Cash in Bank $ 3,250 Inventory $ 7,500 Prepaid Expenses $ 200 Other $ 750 Total Current Assets $13,500 Fixed Assets Machinery & Equipment $18,500 Furniture & Fixtures $27,500 Leasehold Improvements $ - Real Estate / Buildings $ - Other $ - Total Fixed Assets $46,000

Total Assets $59,500

Liabilities & Net Worth Current Liabilities Accounts Payable $ 850 Taxes Payable $ 380 Notes Payable (due within 2 months) $ 480 Total Current Liabilities $ 1,710 Long-term Liabilities Bank Loans Payable (greater than 12 months) $ 2,000 Total Long-term Liabilities $ 2,000

Total Liabilities $ 3,710

Owners' Equity (Net Worth) $55,790

Total Liabilities & Net Worth $59,500

Sample: Balance Sheet

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Profit & Loss Pure Satellite

January 1 through December 31, 2005 Jan - Dec 05 Ordinary Income/Expense Income Management Fees 123637.55 Total Sales 93222.00 Total Income 216859.55 Cost of Goods Sold Purchases 110365.10 Contract Labor 4920.00 Freight 1016.90 Ending Inventory 12/31/2005 -10667.04 Gross Profit 111224.59 Expenses Advertising Newsp,Radio,Direct,BB 32850.20 Co-Op Ad Rebate (14389.91) Total Advertising 18460.29 Contributions 125.00 Dues ad Subscriptions 350.96 Equipment Rental 388.76 Filing Fees 100.00 Liability Insurance 506.94 Licenses and Permits 200.00 Payroll Expenses 13434.00 Postage and Delivery 2124.43 Legal/Accounting Fees 2826.41 Rent 5100.00 Building Repairs 2602.14 Office Supplies 673.64 Telephone 282.94 Gas and Electric 198.25 Water 134.65 Total Expense 49932.40 Net Ordinary Income 61292.19 Net Income 61292.19

Sample: Profit and Loss Statement

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