Golden
Aromas
1717 North McAuliff Street
Visalia, California 93292
Phone: (559)730–7814 Ext. 1407
Fax: (559)730-7426
Goldenaromas2014@gmail.com
Table of Contents
Cover Page……………………………………………………………………………
Table of Contents………………………………………………………………… 1, 2
Introductory Components
Executive Summary………………………………………………………………….3
Company Description..……………………………………………………………...4
Mission Statement…………………………………………………………………….4
Management Functions
Planning………………………………………………………………………………..5
Control of Goals………………………………………………………………………5
Organizational Chart………………………………………………………………...6
Directional Flow Chart……………………………………………………………….7
Marketing Plan
Industry Analysis………………………………………………………………………8
Target Market…………………………………………………………………………9
Market Segmentation………………………………………………………………9
Competitive Analysis………………………………………………………………..10
Product…………………………………………………………………………………11
Price…………………………………………………………………………………….12
Placement…………………………………………………………………………….13
Promotion……………………………………………………………………………..14
Break-Even Analysis…………………………………………………………………15
1
Financial Data
Income Statement…………………………………………………………………16
Income Statement Projections…………………………………………………..17
Balance Sheet…………………………………………………………………..18, 19
Projected Balance Sheet…………………………………………………….. 20, 21
Cash Flow Statement………………………………………………………………22
Cash Flow Projections……………………………………………………………..23
SWOT Analysis and Discussion of Business Risks
SWOT Analysis………………………………………………………………24, 25, 26
Business Risk……………………………………… ………………………………...27
Appendix
Loan Amortization Table………………………………………………………...28
2
Introductory Components
Executive Summary
Golden Aromas was founded August 22nd, 2013 as an all-natural beauty
product line by its owner Matt Glasgow. The company is located in Visalia,
California, in the heart of one of the largest agricultural communities in the
world. Golden Aromas uniquely combines all-natural ingredients to produce a
line of beauty products with no harsh chemicals, preservations, or dyes. These
products consist of multiple perfumes, colognes, and lotions. All of the products
have their own distinctive fragrances, along with seasonal smells for the lotions
and perfumes.
Our company’s inclination stems from the numerous demographic
characteristics our products appeal to. Because Golden Aromas is an all-natural
beauty line, our products can be used with even the most sensitive of skin types
or skin conditions; as a result of this, we are able to obtain the usual market of
customers who are interested in beauty products, as well as those who are not
regularly permitted to use the products offered for sale today.
Our company plans to sell premium products at ideal prices. We have
strategically worked our prices out to sit in the middle of the market, but have
not sacrificed on ingredients or quality. Our competitive analysis has helped us
identify that we are the only brand of our kind in the Virtual Enterprise industry,
giving us the advantage and endless possibilities for growth. When we reach
maximum growth within our current boundaries, we will attempt to pursue
oversea markets and form alliances with other VE companies.
3
Company Description
Golden Aromas is headquartered at 1717 North McAuliff Street, Visalia,
California. We are a start-up virtual enterprise company with the primary
purpose of selling all natural beauty products. Golden Aromas first year of
operations began on August 22nd, 2013, with thirty-two hand selected
employees. All handpicked for their specific positions, our employees are
specialists in what they do.
The company markets all natural perfumes, colognes, and lotions that aid
the habitual process of the human body and are okay to use with even the
most sensitive of skin types.
Our plan is to offer an all-natural alternative to beauty products commonly
used by men and women, while servicing those whose skin is either too sensitive,
already damaged, or unable to benefit from the beauty products already out
there today. Golden Aromas would like to establish a standard of natural
beauty products, and be the first successful company of its kind to stand out
and appeal to the teens of the VE world and competitions.
Mission Statement
Golden Aromas mission is to provide the highest quality of natural beauty
products and to ensure the satisfaction of all our customers through our ability to
provide products to meet their needs of beauty, smell, and health.
4
Management Functions
Planning
Golden Aromas has set three major goals for itself this year. Our first goal
will be to establish new partnerships with community service organizations. The
purpose for this goal is to continue community networking and promote a
positive company image. Our second goal and purpose for the Business Plan is
to obtain a small loan, which will help us start a new line. This will in turn add
more products for our customers to choose from and maximize our revenue.
Finally our third goal will be to expand our shipping destinations to not only to
the United States, but also oversea markets.
Control of Goals
In order to monitor our progress towards our goals, we will follow up with
different community service organizations and establish partnerships. We will
follow through with the loan application in order to start our new line. Finally, we
will talk to our sales director about expanding our shipping destinations, and find
ways to cut shipping prices in order to maximize our profit.
5
Organizational Chart
Secretary
CEO
Jessica Barba
Casey Crumrine
CFO
VP of Management
VP of Marketing
Jennifer Cho
Guadalupe Rosales
Kristian Ramirez
Banker
Human Resources
Sales Director
John Figueroa
Crystal Saephan
Daniel Klorman
(Assistant)
David Safrazian
Hannah Venegas
(Assistant)
Accountants
Melanie Kwok
Advertising Associates
Project Manager
Chassidy Saechao
Cirenia Cruz (Assistant)
Public Relations/ Web
Designer
Raylene Bonte
Mariela Gonzalez
(Assistant)
Organization Manager
Kayla Saeteurn
Alexis Sandoval
(Assistant)
Tech. Director
Joaquin Aguirre
Photographer
Mykayla Hamlin
6
Jessica Gomez
(Manager)
Karla Herrera
Audrey Calderon
Sales Associates
Lucy Hernandez
(Manager)
Breanne Ojeda
Bianca Orosco
Angela Carter
Photoshop Editors
Daniel Bustos (Manager)
Maria Vasquez
Steven Silva
Imprinting
Jordan Tanner
(Manager)
Marina Tanner
Paul Martinez
Directional Flow Chart
This flow chart
CEO
explains how
directions,
assignments,
Instructions and
V.P.Accounting
V.P.Management
V.P.Marketing
information
are provided to
employees.
Managers
Banker
Accountants
Employees
Sales Director
Sales Associates
Employees
7
Marketing Plan
Industry Analysis
Real:
Golden Aromas researched various natural skin care companies and have
found some threats to companies that are not natural. For example after finding
some information on a company that has stores in and out of the country, the
Environmental Working Group found some harsh chemicals used that are not
shown on their product label. Those chemicals can harm your favorite attire and
have health issues involved.
A way to prevent using those harsh chemicals inside of some perfumes is to
switch to an all-natural skin care product. Using natural skin care products will
provide your skin some of the nutrients and vitamins it may be lacking. Be sure to
check the ingredients in all natural products just to double check that you are
using a product that will harm you.
Virtual:
Golden Aromas researched the virtual beauty market and determined that
there we have a minimal number of competitors. Based on what our team has
researched on the companies we have not found an all-natural company.
8
Target Market
Golden Aromas’ target market consists of both men and women. Since the
products are all natural they aid the habitual process of skin. Therefore we
target teenagers and middle aged adults ages 13-62.
Golden Aromas is currently located in the agricultural valley of California so
most of the consumers will be from around the area. If the customer does not
live in the area Golden Aromas ships out its products to the destination being
out of state or out of the country.
Market Segmentation
Golden Aromas mainly focuses on providing all natural products for our
customers. Our business is segmented into colognes, perfumes, and lotions for
both men and women. We mainly target the central valley, but we do send our
products anywhere across the United States. Research shows that customers are
searching for all natural products, rather than chemical made products.
9
Competitive Analysis
Golden Aromas
Products Offered
Pricing
Goal
Perfumes
Cologne
Lotions
Seasonal
$10-$55
Use natural
ingredients to
satisfy our
customers’ needs
for beauty,
elegance, and
health.
Bath and Body
Works
Fragrance
Body Lotions
Home Fragrance
Anti-Bacterial
$12-$40
Satisfy customers’
needs for body
and home
products.
The Honest Co.
Baby
Bath and Body
Cleaning
Health and
Wellness
$3.95-$124.95
Help create a
safer world for not
only our little ones
but for our families
as a whole.
Golden Aromas conducted a competitive analysis on Bath and Body
industries, and determined that our greatest competitors were Bath & Body
Works and The Honest Co. Shown in the table above are the products, pricing,
and goals of each individual company. Golden Aromas is proud to say that all
our natural products are top of the line and by us using these ingredients we
have shown that we care for the Earth and the health of our customers. As you
see we provide a limited variety of products, but with a reason. We want to
dedicate the same amount of time and inspection to all of our products. We
want our customers to be able to read our ingredients and know what exactly
they are applying on themselves.
10
Products
Golden Aromas is an all-natural beauty product line for men and women.
We make sure that the products we sale won’t harm your favorite attire.
Perfumes & Lotions :
Colognes & Lotions:
Ferocious
Mountain Man
Wild Flower
Cold Touch
Red Mist
Dark Sensation
Bonheur D’or
Equipt
Seasonal Perfumes & Lotions:
Spring: Awakening Sunrise
Summer: Golden Breeze
Fall: Sweet Pumpkin
Winter: Vanilla Ice
11
Price
Since Golden Aromas is an all-natural beauty product line there are a
few competitors. The only difference between our company and many
companies is that we solely use all-natural products. Our company’s prices
revolve around be all-natural.
Perfumes:
Women’s Lotion:
Ferocious, Wild Flower, Red Mist, &
Ferocious, Wild Flower, Red Mist, &
Bonheur D’or are in a 2.5 FL oz. elegant
Bonheur D’or are all in a 7.2 FL oz. tube
bottle for only $45.
for only $45.
Colognes:
Men’s Lotion:
Mountain Man, Cold Touch, Dark
Mountain Man, Cold Touch, Dark
Sensation, & Equipt are in a 2.5 FL oz.
Sensation, & Equipt are in a 7.2 FL oz.
bottle for only $45
bottle for only $45
Seasonal Scents for perfumes & lotions:
Awakening Sunrise, Vanilla Ice,
Golden Breeze, Sweet Pumpkin are all
only $35.
12
Placement
Golden Aromas is located at 1717 North McAuliff Street in Visalia,
California. Our location is in the middle of the Central Valley, making it the prime
station for an all-natural beauty brand like ourselves. Our 1,200 square foot
facility accommodates perfectly for our thirty-three employees and continuously
growing inventory. Being located in the middle of the some of the largest
agricultural manufacturers in the world has proved to be an outstanding
opportunity for Golden Aromas.
13
Promotion
Golden Aromas promotes itself in three primary ways. The most
important and valued promotion is something that the company does not
control but tries to encourage through good service and excellent products:
word of mouth. Because we are a newly found business with not a lot of excess
revenue to spend on marketing, this has proven to be the most convenient way
to build a network of customers. We also rely on our employees, local businesses,
and customers to network through business cards, flyers, and catalogs.
Golden Aromas has also made an easily accessible and usable website
for customers to learn information, ask questions, and view our products and
what our company is about. All of our products, along with their prices and
ingredients, are displayed on the website. This website is available to the public,
with no restrictions, needs for a membership, or fees.
But the promotion that reaches most of our customer base is our
commercial. Because it is show to a wider range of people, it is the most
efficient in promoting Golden Aromas and its products.
14
Break-Even Analysis
$100,000.00
$90,000.00
$80,000.00
$70,000.00
$60,000.00
$50,000.00
$40,000.00
Break Even Point
$30,000.00
$20,000.00
$10,000.00
$0.00
1500
2000
2500
3000
3500
4000
4500
5000
Golden Aromas has a total of $61,926.80 in our first month of expenses.
Using this figure, we have calculated how much we would have to sell to break
even. Golden Aromas would only need to sell 1377 colognes, which only cost
$45. If Golden Aromas would have based it off of our women’s perfumes, which
cost more, we would only have to sell 1126 perfumes. After Golden Aromas
reaches its break-even point everything else Golden Aromas sells will be profit.
15
Financial Data
Golden Aromas
Income Statement
For Month Ended November 30, 2013
Operating Revenue:
Sales:
5,500.00
Cost of Merchandise Sold:
2,500.00
Total Operating Revenue:
3,000.00
Operating Expenses:
Advertising Expense:
1,200.00
Insurance Expenses:
2,298.00
Miscellaneous Expenses:
225.50
Payroll Taxes Expense:
8,554.91
Purchases Expense:
500.00
Rent Expenses:
1,700.00
Salary Expenses:
43,904.89
Supplies Expenses:
750.00
Utilities Expenses:
2,293.50
Workers Comp Insurance:
1,000.00
Total Operating Expenses:
61,926.80
Net Income: (Out)
(56,926.80)
16
Income Statement Projections:
Income
Statement
Projections
Operating
Revenue:
Sales:
Cost of
Merchandise
Sold:
Total Operating
Revenue:
Operating
Expenses:
Advertising
Expense:
Depreciation
Expenses:
Insurance
Expenses:
Miscellaneous
Expenses:
Payroll Taxes
Expense:
Purchases
Expense:
Rent Expenses:
Salary
Expenses:
Supplies
Expenses:
Utilities
Expenses:
Workers Comp
Insurance
Expense:
Total Operating
Expenses:
Net Income:
(Out)
Dec. 2013
Jan. 2014
Feb. 2014
Mar. 2014
Apr. 2014
7500
1500
10000
1000
15000
1500
20000
500
22000
500
6000
9000
13500
19500
21500
1500
1200
1000
1000
1000
125
125
125
125
125
2298
2298
2298
2298
2298
225.5
225.5
225.5
225.5
225.5
8554.91
8554.91
8554.91
8554.91
8554.91
500
500
1000
1000
500
1700
43904.89
1700
43904.89
1700
43904.89
1700
43904.89
1700
43904.89
800
750
750
750
750
2293.5
2293.5
2293.5
2293.5
2293.5
1000
1000
1000
1000
1000
62901.8
62551.8
62851.8
62851.8
62351.8
-56255.1
-61551.8
-61351.8
-62351.8
-61851.8
17
Golden Aromas
Balance Sheet
For Month Ended November 30, 2013
Assets:
Current Assets:
Cash:
163,158.97
Supplies:
750.00
Accounts Receivable:
1000.00
Merchandise Inventory:
2,000.00
Pre-Paid Insurance
2,298.00
Worker’s Comp Insurance:
1,000.00
Total Current Assets:
169,057.78
Fixed Assets:
Property and Equipment:
57,000.00
Total Fixed Assets:
57,000.00
18
Balance Sheet Continued:
Liabilities:
Account Payable:
2,000.00
Federal Income Tax Payable:
9,380.00
Social Security Tax Payable:
3,784.57
Medicare Tax Payable:
885.11
Unemployment Tax Payable-Federal:
1,538.34
CA Withholding:
6,876.00
CA SDI:
610.42
Unemployment Tax Payable-State:
2,132.53
Total Liabilities:
27,206.97
Owner’s Equity:
Investment Capital:
200,000.00
Total Owner’s Equity:
200,000.00
19
Golden Aromas
Projected Balance Sheet
For Month Ended March 31, 2014
Assets:
Current Assets:
Cash:
58,358.97
Merchandise Inventory:
500.00
Supplies:
750.00
Accounts Receivable:
800.00
Pre-Paid Insurance:
2,298.00
Workers Comp Insurance:
1,000.00
Total Current Assets:
62,558.00
Fixed Assets:
Property and Equipment:
57,000.00
Total Fixed Assets:
57,000.00
20
Projected Balance Sheet Continued:
Current Liabilities:
Account Payable:
500.00
Federal Income Tax Payable:
9,380.00
Social Security Tax Payable:
3,784.57
Medicare Tax Payable:
885.11
Unemployment Tax Payable-Federal:
1,538.34
CA Withholding:
6,876.00
CA SDI:
610.42
Unemployment Tax Payable-State:
2,132.53
Total Current Liabilities:
25,706.97
Owner’s Equity:
Investment Capital:
95,000.00
Total Owner’s Equity:
95,000.00
21
Cash Flow Statement:
Golden Aromas
Cash Flow Statement
For Month Ended November 30, 2013
Opening Bank Balance:
163,158.97
Receipts:
Accounts Receivable:
500.00
Sales:
5,000.00
Cost of Merchandise Sold:
2,500.00
Receipts Subtotal:
3,000.00
Payments:
Advertising Expenses:
1,200.00
Insurance Expenses:
2,298.00
Miscellaneous Expenses:
225.50
Payroll Taxes Expenses:
8,554.91
Purchases Expenses:
500.00
Salary Expenses:
43,904.89
Rent Expenses:
1,700.00
Supplies Expenses:
750.00
Workers Comp Insurance Expense:
1,000.00
Utilities Expenses:
2,293.50
Payments Subtotal:
59,633.30
Net Cash In./(Out)
(56,926.80)
Closing Bank Balance:
106,232.17
22
Cash Flow Projections:
Cash Flow Projections:
Opening Bank Balance:
Receipts:
Accounts Receivable:
Sales:
Cost of Merchandise Sold:
Receipts Subtotal:
Payments:
Advertising Expenses:
Depreciation Expenses:
Insurance Expenses:
Miscellaneous Expenses:
Payroll Taxes Expenses:
Purchases Expenses:
Salary Expenses:
Rent Expenses:
Supplies Expenses:
Workers Comp Insurance
Expense:
Utilities Expenses:
Payments Subtotal:
Net Cash In: (Out)
Closing Bank Balance:
Dec.
Jan.
Feb.
Mar.
Apr.
2013
2014
2014
2014
2014
109025.7 52123.87 -3929.19
-56781 -100133
500
7000
1500
6000
500
9000
1000
9000
500
10000
1500
13500
500
19500
500
19500
500
21500
500
21500
1500
1200
1000
1000
1000
125
125
125
125
125
2298
2298
2298
2298
2298
225.5
225.5
225.5
225.5
225.5
8554.91 8554.91 8554.91 8554.91 8554.91
500
500
1000
1000
500
43904.89 43904.89 43904.89 43904.89 43904.89
1700
1700
1700
1700
1700
800
750
750
750
750
2293.5
1000
62901.8
2293.5
1000
62551.8
2293.5
1000
62851.8
2293.5
1000
62851.8
2293.5
1000
62351.8
-56901.8
52123.87
-53551.8
-3929.19
-52851.8
-56781
-43351.8
-100133
-40851.8
-140985
23
SWOT Analysis & Business Risks
SWOT Analysis
The SWOT analysis provides us with the convenience to evaluate our
business's strengths, weaknesses, opportunities and threats, and help us identify
specific areas for our development. The analysis is split into two parts: Internal
audit (strengths and weaknesses) and External audit (opportunities and threats).
Internal Audit
Golden Aromas has conducted an industry analysis and has come to the
conclusion that all of the employees are strong and important resources. Each
employee has completed two years of training that has consisted of Business
Technical training and Accounting. They have also been interviewed and
trained by employees of the past, who come back willingly and help the newer
staff with learning the skills needed to be qualified for the job they have
obtained. The tight knit relationship between the previous employees and the
newer employees helps build proficiency in the company. Another major
strength is the continuation of Trailblazer Concepts, now known as Blazer
Business. Because of the stability of the already established partnership with
various organizations and people within the community, Blazer Business has
continued the excellent service associated with the Golden West Virtual
Enterprise and expanded its operations, bringing additional benefits to the
general public and revenue to the company. But the distinctive nature of our
products is probably our biggest strength, helping us stand and making us
different from other products sold in the VE competitions. Our unique products
24
are all natural, with no preservatives, harsh chemicals, or dyes, and are friendly
to every skin type, category of clothing, and sort of hair. They do not disturb the
body’s natural process, but actually aids in the habitual actions of our cells. They
are all natural; therefore there is no limitation on who can use them and no
consequences for your skin or your clothes. Our easily navigable website and
exceptional customer service are also strengths of the company’s, bringing
more sells and higher customer satisfaction.
Golden Aromas is the first startup business that has come through Golden
West Virtual Enterprise in a number of years, therefore there have been
complications getting the business going. Though Golden Aromas is running fine,
the starting of the new business, alongside with the entering of a new instructor,
has weakened the company’s progress. Because many of our employees were
used to the event planning company from years past, the transition from
providing a service to providing a product has also proved to be a difficult task.
But the most prominent weakness being presented at this time is the company’s
ability to achieve a desired smell, while still maintaining a presentable
appearance; because the products are all natural, there is a limitation on the
ingredients that can be used. Also, because of the crash of the Virtual Enterprise
Bank in New York last year, there were complications in keeping track of money
and funds, which has carried on into this year. Golden Aromas has had to figure
out these complications and make sense of the written files left from the
previous banker.
25
External Audit
Golden Aromas brings a new type of product that targets an underserved
market in the VE Network. Therefore, there is a mass amount of room for growth
and no currently placed standards. Natural products are just beginning to
become popular, so Golden Aromas has entered a rapidly growing market at
an ideal time, since there is a lack of competition and a lack of natural products
on the market. Also, products of this kind can be easily ordered online; this has
allowed us to consider the opportunity of someday shipping our products
internationally. This has also granted us the ability to gain substantial growth,
since online shopping is becoming increasingly popular.
We are a startup business, so therefore we have not had the opportunity to
make alliances or create partnerships with other companies. Golden Aromas is
also in the process of getting our name out in the public, which means there has
been a limited amount of sales and a limited amount of income; this is
dangerous because we rely on that money to make the business run. We
currently have not gained a customer base, which aids in the potential failure of
our company. The low barrier to entry is also a threat, because our competitors
can see how the need for these products and the lack of current competitors
makes for an ideal market, and try to create a similar business with similar
products - stealing our customers and our revenue.
26
Business Risks
The two main risks identified by Golden Aromas consist of its ability to
penetrate the market and its reliance on its employees. The reliance on the
employees has already been addressed and taken care of by assigning every
singular position - except the executive branch - an assistant. Golden Aromas
realized early on that it could not rely on one person and needed to be
prepared for the unexpected, so it turned every singular position obtainable by
employees into a dual partnership. The risk of not being able to penetrate the
market is currently being addressed and precautions are being taken to ensure
that Golden Aromas not only penetrates it, but also secures a stable spot in it.
We plan to do continuous market research directed at our target market, supply
excellent products and have excellent customer service, and increase our
marketing in order to get the company’s name out in the public and guarantee
customer satisfaction.
27
Loan Amortization Table:
Payment Summary
Monthly Payment
Total Interest Paid
Total Paid
$3,774.25
$26,454.80
$226,454.80
Amortization Table
Payment
Principal
Interest
Balance
Payment
Principal
Interest
Balance
1 ($3,774.25)
$2,940.91
$833.33
$197,059.09
31 ($3,774.25)
$3,331.63
$442.62
$102,897.31
2 ($3,774.25)
$2,953.17
$821.08
$194,105.92
32 ($3,774.25)
$3,345.51
$428.74
$99,551.81
3 ($3,774.25)
$2,965.47
$808.77
$191,140.45
33 ($3,774.25)
$3,359.45
$414.80
$96,192.36
4 ($3,774.25)
$2,977.83
$796.42
$188,162.62
34 ($3,774.25)
$3,373.45
$400.80
$92,818.91
5 ($3,774.25)
$2,990.24
$784.01
$185,172.38
35 ($3,774.25)
$3,387.50
$386.75
$89,431.41
6 ($3,774.25)
$3,002.70
$771.55
$182,169.69
36 ($3,774.25)
$3,401.62
$372.63
$86,029.80
7 ($3,774.25)
$3,015.21
$759.04
$179,154.48
37 ($3,774.25)
$3,415.79
$358.46
$82,614.01
8 ($3,774.25)
$3,027.77
$746.48
$176,126.71
38 ($3,774.25)
$3,430.02
$344.23
$79,183.99
9 ($3,774.25)
$3,040.39
$733.86
$173,086.33
39 ($3,774.25)
$3,444.31
$329.93
$75,739.67
10 ($3,774.25)
$3,053.05
$721.19
$170,033.27
40 ($3,774.25)
$3,458.66
$315.58
$72,281.01
11 ($3,774.25)
$3,065.77
$708.47
$166,967.50
41 ($3,774.25)
$3,473.08
$301.17
$68,807.93
12 ($3,774.25)
$3,078.55
$695.70
$163,888.95
42 ($3,774.25)
$3,487.55
$286.70
$65,320.38
13 ($3,774.25)
$3,091.38
$682.87
$160,797.57
43 ($3,774.25)
$3,502.08
$272.17
$61,818.31
14 ($3,774.25)
$3,104.26
$669.99
$157,693.32
44 ($3,774.25)
$3,516.67
$257.58
$58,301.64
15 ($3,774.25)
$3,117.19
$657.06
$154,576.13
45 ($3,774.25)
$3,531.32
$242.92
$54,770.31
16 ($3,774.25)
$3,130.18
$644.07
$151,445.95
46 ($3,774.25)
$3,546.04
$228.21
$51,224.28
17 ($3,774.25)
$3,143.22
$631.02
$148,302.72
47 ($3,774.25)
$3,560.81
$213.43
$47,663.46
18 ($3,774.25)
$3,156.32
$617.93
$145,146.41
48 ($3,774.25)
$3,575.65
$198.60
$44,087.81
19 ($3,774.25)
$3,169.47
$604.78
$141,976.93
49 ($3,774.25)
$3,590.55
$183.70
$40,497.27
20 ($3,774.25)
$3,182.68
$591.57
$138,794.26
50 ($3,774.25)
$3,605.51
$168.74
$36,891.76
21 ($3,774.25)
$3,195.94
$578.31
$135,598.32
51 ($3,774.25)
$3,620.53
$153.72
$33,271.23
22 ($3,774.25)
$3,209.25
$564.99
$132,389.07
52 ($3,774.25)
$3,635.62
$138.63
$29,635.61
23 ($3,774.25)
$3,222.63
$551.62
$129,166.44
53 ($3,774.25)
$3,650.77
$123.48
$25,984.85
24 ($3,774.25)
$3,236.05
$538.19
$125,930.39
54 ($3,774.25)
$3,665.98
$108.27
$22,318.87
25 ($3,774.25)
$3,249.54
$524.71
$122,680.85
55 ($3,774.25)
$3,681.25
$93.00
$18,637.62
26 ($3,774.25)
$3,263.08
$511.17
$119,417.78
56 ($3,774.25)
$3,696.59
$77.66
$14,941.03
27 ($3,774.25)
$3,276.67
$497.57
$116,141.10
57 ($3,774.25)
$3,711.99
$62.25
$11,229.04
28 ($3,774.25)
$3,290.33
$483.92
$112,850.78
58 ($3,774.25)
$3,727.46
$46.79
$7,501.58
29 ($3,774.25)
$3,304.04
$470.21
$109,546.74
59 ($3,774.25)
$3,742.99
$31.26
$3,758.59
30 ($3,774.25)
$3,317.80
$456.44
$106,228.94
60 ($3,774.25)
$3,758.59
$15.66
$0.00
28
29