sample individual income statement & balance sheet

Example using "Normalization" on an Individual's "Income Statement" and "Balance Sheet" Jane Doe's Normalized Personal "Income Statement" Note: This is similar (NOT identical) to what you will do when you normalize your company's income sta Year 2001 Information Year 2000 Information 20% raise, slight increases in expenses Monthly Monthly 1 Average Annual Normalized Average Annual Normalized Income: Base Salary 4800 57600 83% 4000 48000 80% Bonuses/Consulting 1000 12000 17% 1000 12000 20% Total Income 5800 69600 100% 5000 60000 100% Expenses/Taxes: Taxes, etc. 1740 20880 30% 1500 18000 30% Mortgage Payment 1000 12000 17% 1000 12000 20% Car Payment 500 6000 9% 400 4800 8% Credit Card/Other P 200 2400 3% 200 2400 4% Utilities 500 6000 9% 500 6000 10% Gas for Car 78.48 941.76 1% 65.4 784.8 1% Savings 870 10440 15% 500 6000 10% Food, Misc. 800 9600 14% 800 9600 16% Total Expenses 5688.48 68261.76 98% 4965.4 59584.8 99% Budget "Profit/Slac 111.52 1338.24 2% 34.6 415.2 1% Jane Doe's Normalized Personal "Balance Sheet" Assets Cash 5000 1% 5000 1% Securities 60000 10% 50000 9% Retirement Plans/401k 115000 19% 100000 19% Food/Personal 6000 1% 5000 1% Total Current Assets 186000 31% 160000 30% Fixed Assets Car 40000 7% 30000 6% Other Insurable Assets 50000 8% 45000 8% Household Property 100000 17% 100000 19% House 220000 37% 200000 37% Total Fixed Assets 410000 69% 375000 70% Total Assets 596000 100% 535000 100% Liabilities & Equity: Liabilities: Credit Card/Other debt 8000 1% 5000 1% Student Loan 7000 1% 8000 1% Car Loan 35000 6% 20000 4% Home Mortgage Balance 140000 23% 150000 28% Total Liabilities 190000 32% 183000 34% Equity: 406000 68% 352000 66% Total Liabilities + Equity 596000 100% 535000 100%

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Sheet1Jane Doe's Normalized Personal "Income Statement"Note: This is similar (NOT identical) to what you will do when you normalize your company's income statement and balance sheetYear 2001 InformationYear 2000 Information20% raise, slight increases in expenses% IncreaseMonthlyMonthly1999 to 2000AverageAnnualNormalizedAverageAnnualNormalizedAnnualIncome:Base Salary48005760083%40004800080%20%Bonuses/Consulting10001200017%10001200020%0%Total Income580069600100%500060000100%16%Expenses/Taxes:Taxes, etc.17402088030%15001800030%16%Mortgage Payment10001200017%10001200020%0%Car Payment50060009%40048008%25%1.091.2Credit Card/Other Pay20024003%20024004%0%1.308Utilities50060009%500600010%0%Gas for Car78.48941.761%65.4784.81%20%Savings8701044015%500600010%74%Food, Misc.800960014%800960016%0%Total Expenses5688.4868261.7698%4965.459584.899%15%Budget "Profit/Slack"111.521338.242%34.6415.21%222%Jane Doe's Normalized Personal "Balance Sheet"AssetsCash50001%50001%0%Securities6000010%500009%20%Retirement Plans/401k11500019%10000019%15%Food/Personal60001%50001%20%Total Current Assets18600031%16000030%16%Fixed AssetsCar400007%300006%33%Other Insurable Assets500008%450008%11%Household Property10000017%10000019%0%House22000037%20000037%10%Total Fixed Assets41000069%37500070%9%Total Assets596000100%535000100%11%Liabilities & Equity:Liabilities:Credit Card/Other debt80001%50001%60%Student Loan70001%80001%-13%Car Loan350006%200004%75%Home Mortgage Balance14000023%15000028%-7%Total Liabilities19000032%18300034%4%Equity:40600068%35200066%15%Total Liabilities + Equity596000100%535000100%11%

&CExample using "Normalization" on an Individual's "Income Statement" and "Balance Sheet"

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