Business, 15.06.2021 23:40 sanakhalid9728

Penny decided that the interest shown by the East Rutherford, N. J., Gay, Lesbian, Bisexual, and Transgender Alliance justified further research and the creation of a projected income statement as part of an evaluation of the feasibility of starting a business. She found a small industrial space she could rent for $1,000 per month. She estimated her initial need for employees to be a total of four, whom she would pay $10 an hour. A 40-hour work week was planned. She also budgeted $500 a week to pay herself. Assume everyone, including Penny, works 52 weeks per year. Her expenses associated with payroll (e. g., social security, unemployment insurance, fringe benefits) amounted to 20% of total compensation. Other expenses were estimated as:

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Penny decided that the interest shown by the East Rutherford, N. J., Gay, Lesbian, Bisexual, and Tra...

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