You’ve decided to open an apparel store called Bargain Basement on July 1, 2020, following a four-month start-up phase. A list of assumptions for Bargain Basement Apparel Shoppe, LLC follows: Using the information included above, do the following:
Calculate expected quarterly gross payroll for each of the first six quarters of Bargain Basement’s operations.Calculate expected quarterly cost of goods sold for each of the first six quarters of Bargain Basement’s operations.Calculate expected quarterly sales for each of the first six quarters of Bargain Basement’s operations.Create a depreciation schedule.Complete the following pro forma income statements: