First Year Budget — 1977 



Expenses 



SBA Payment ($34,000, 15 year loan @ 6 5/8%) $ 3,645.31 



Local Bank Payment ($12,000, 15 year loan @ 84%) 1,445.16 



Insurance (without truck) 960.00 



Taxes (property) 500.00 



Labor @ $3.00/hr. @ 1,354 hours 4,062.00 



Utilities (heat and light) GOO. 00 



Fish Costs (31,250#'s @ 70<?/#) 21,875.00 



Packaging Costs 1,195.70 



FICA & Unemployment (5.85% & 3.1% resp . on $4,062) 363.55 



Phone ($12.00/month base) 600.00 



Interest on Operating Capital( $20, 000 borrowed (rH 10%) 2,000.00 



Broker Costs (10(;i/#) 2,500.00 



Shipping Costs (10?/#) 2,500.00 



Legal Fees 1,500.00 



Secretarial & Bookkeeping (set up books) 2,000.00 



Miscellaneous 1 , OOP. 00 



TOTAL EXPENSES $ 45,846.72 



Revenue 



25,000#'s Boned/Frozen Fish @ $1.75/# 



Net Income 



Less Depreciation (building and equipment) 



Less Taxes (income) 



NET LOSS 



