Proforma Income Statement

Build to Suit Industrial Building

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Shows the first year on a monthly basis. Highlights the construction phase of the analysis.

  Jan 03 Feb 03 Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03 Oct 03 Nov 03 Dec 03 Ttl 03
Gross Income                          
  XYZ Lease $0 $0 $0 $0 $0 $0 $0 $0 $30,000 $30,000 $30,000 $30,000 $120,000
Total Gross Income $0 $0 $0 $0 $0 $0 $0 $0 $30,000 $30,000 $30,000 $30,000 $120,000
  Less: Operating Expenses                          
  Management Fee 0 0 0 0 0 0 0 0 900 900 900 900 3,600
Total Operating Expenses $0 $0 $0 $0 $0 $0 $0 $0 $900 $900 $900 $900 $3,600
Net Operating Income $0 $0 $0 $0 $0 $0 $0 $0 $29,100 $29,100 $29,100 $29,100 $116,400
  Less: Debt Service                          
  Permanent 0 0 0 0 0 0 0 0 17,289 17,289 17,289 17,289 69,156
Total Debt Service $0 $0 $0 $0 $0 $0 $0 $0 $17,289 $17,289 $17,289 $17,289 $69,156
Net Operating Cash Flow $0 $0 $0 $0 $0 $0 $0 $0 $11,811 $11,811 $11,811 $11,811 $47,244
Add: Debt Draw & Repay                          
  Construction Draw 0 78,000 591,600 306,000 399,600 255,600 45,600 230,400 (1,970,095) 0 0 0 (63,295)
  Permanent 0 0 0 0 0 0 0 0 1,970,095 0 0 0 1,970,095
Total Debt Draw & Repay $0 $78,000 $591,600 $306,000 $399,600 $255,600 $45,600 $230,400 $0 $0 $0 $0 $1,906,800
  Less: Capital Spending                          
  Land 0 0 1,200,000 0 0 0 0 0 0 0 0 0 1,200,000
  Sitework 0 0 302,400 0 0 0 0 0 0 0 0 0 302,400
  Foundations & Floor Slab 0 0 289,200 0 0 0 0 0 0 0 0 0 289,200
  Structure 0 0 0 306,000 0 0 0 0 0 0 0 0 306,000
  Building Skin 0 0 0 0 261,600 0 0 0 0 0 0 0 261,600
  Doors, Canopies, Soffits 0 0 0 0 58,800 0 0 0 0 0 0 0 58,800
  Storefront 0 0 0 0 0 49,200 0 0 0 0 0 0 49,200
  Roof Systems 0 0 0 0 0 206,400 0 0 0 0 0 0 206,400
  Electrical 0 0 0 0 0 0 33,600 0 0 0 0 0 33,600
  Exterior Contingency 0 0 0 0 79,200 0 0 0 0 0 0 0 79,200
  Warehouse Finish 0 0 0 0 0 0 0 110,400 0 0 0 0 110,400
  Standard Office Finish 0 0 0 0 0 0 0 120,000 0 0 0 0 120,000
  Interior Contingency 0 0 0 0 0 0 12,000 0 0 0 0 0 12,000
  Permits 0 10,000 0 0 0 0 0 0 0 0 0 0 10,000
  Legal & Title 0 18,000 0 0 0 0 0 0 0 0 0 0 18,000
  Architectural/Engineering 0 50,000 0 0 0 0 0 0 0 0 0 0 50,000
Total Capital Spending $0 $78,000 $1,791,600 $306,000 $399,600 $255,600 $45,600 $230,400 $0 $0 $0 $0 $3,106,800
Cash Flow Before Tax $0 $0 ($1,200,000) $0 $0 $0 $0 $0 $11,811 $11,811 $11,811 $11,811 ($1,152,756)
Taxable Income and Taxes                          
  (Losses Carried Forward)                          
Taxable Revenues $0 $0 $0 $0 $0 $0 $0 $0 $30,000 $30,000 $30,000 $30,000 $120,000
  Less: Deducted Expenses 0 0 0 0 0 0 0 0 900 900 900 900 3,600
  Less: Interest Expense                          
  Permanent 0 0 0 0 0 0 0 0 16,417 16,410 16,403 16,395 65,626
  Total Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $16,417 $16,410 $16,403 $16,395 $65,626
Ordinary Income $0 $0 $0 $0 $0 $0 $0 $0 $12,683 $12,690 $12,697 $12,705 $50,774
Taxable Income 0 0 0 0 0 0 0 0 12,683 12,690 12,697 12,705 50,774
(Cum Suspended Losses) 0 0 0 0 0 0 0 0 0 0 0 0 0
Taxes Due (- = Savings) 0 0 0 0 0 0 0 0 5,022 5,025 5,028 5,031 20,106
Cash Flow After Tax $0 $0 ($1,200,000) $0 $0 $0 $0 $0 $6,789 $6,786 $6,783 $6,780 ($1,172,862)


Capital Spending Detail

Build to Suit Industrial Building

Illustrates the schedule of development spending for the Build to Suit development.


 

Debt Draw & Repay Detail

Build to Suit Industrial Building

Tracks the construction draw into the permanent loan. The land is being paid for with cash and is not included in the draws. When the property goes into service, the draws are repaid with the funds of a permanent loan. planEASe does this all automatically.


Gross Income Detail

Build to Suit Industrial Building

The lease starts in September when the building goes into service.


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