22 The company’s personnel forecast is outlined below. Personnel wages indicate the average salary per position, and personnel costs are total wages for each job. Table 4 Personnel forecast 2020 2021 2022 2023 2024 Year end personnel count Chief Executive Officer 1 1 1 1 1 Technical Director 1 1 1 1 1 Climber helper 1 1 1 1 1 Top hand climber 2 2 2 2 2 Total personnel 5 5 5 5 5 Personnel Wage Chief Executive Officer 4 000 4 084 4 170 4 257 4 347 Technical Director 500 511 521 532 543 Climber helper 350 357 365 373 380 Top hand climber 200 204 208 213 217 Personnel costs Chief Executive Officer 48 000 48 000 48 000 48 000 48 000 Technical Director 60 000 77 500 97 500 120 000 120 000 Climber helper 84 000 108 500 136 500 168 000 168 000 Top hand climber 24 000 31 000 39 000 48 000 48 000 Total costs 216 000 265 000 321 000 384 000 384 000 The company intends to deploy its funding to maximize growth and profitability. In the Profit and Loss table below, gross margin equals revenue minus direct costs. The “bottom line” or profit (as measured before and after interest, taxes, depreciation, and amortization) equals gross margin minus operating expenses. Table 5 Profit and Loss statement 2020 2021 2022 2023 2024 Gross revenue 370 888 489 848 628 926 790 802 808 200 COGS 98 583 130 094 167 031 210 640 215 274 Salary and wages 216 000 265 000 321 000 384 000 384 000 General costs 62 421 63 703 65 041 66 632 68 098 Other expenditures 25 750 - - - - Total costs 402 753 458 797 553 072 661 271 667 371 Earnings before interest, taxes, depreciation and amortization (31 865) 31 051 75 855 129 531 140 828 Amortization 4 657 6 209 6 209 6 209 6 209 Earnings before interest and taxes (36 522) 24 842 69 646 123 322 134 619 Interest paid - - - - - Profit before taxes (36 522) 24 842 69 646 123 322 134 619 Federal net income tax (1 324) 3 726 10 447 18 498 20 193 State net income tax - 2 981 8 358 14 799 16 154 Net profit (35 198) 16 892 47 359 83 859 91 541 Profit accrual (370 933) (361 818) 103 642 943 773 2 008 071
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