Scenario: We are starting an Audiology clinic
Owners Equity is $100,000 – the rest would be loan to match the debit and credit side – you can decide the amount of how much loan are we taking after going through the P&L sheet and reviewing the costs.
All the equipment have 10 year lifespan and a 10% value at the end ( this should help calculate the accumulated depreciation)
P&L sheet is already provided with detailed revenue and expenses for 3 years.
Need to create Balance sheet, Income sheet, and Cashflow projection for next three years with the information provided in P&L sheet.
Feel free to change the template of Balance, income, and cashflow sheets.