Financial Statement Comparison Number of. Company Name Industry Average 2005 season Companies. Summer of 2005 Information 14 companies total
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1 Financial Statement Comparison Number of Participating Company Name Industry Average 2005 season Companies Summer of 2005 Information Do Not include raft rentals 14 companies total User Days = 1 person for any part of a day Average Day Trip User Days 15, ,058 Average Multi Day Trip User Days 1, ,467 Total User Days 16,525 16,525
2 Balance Sheet Information Number of Percent of December 31, 2005 Participating Total 1. Classified Balance Sheet Companies Assets Current Assets Cash, accounts receivable, liquid assets + 105, % Inventory + 41, % Total Current Assets = + 146, % Non Current Assets Equipment (operating) + 374, % Vehicles + 152, % Equipment (Office) + 65, % Other assets + 705, % (Accumulated Depreciation) - 657, % Total Non Current Assets = + 641, % Total assets = 787, % Current liabilities Accounts Payable + 89, % Deposits on trips + 57, % Total Current Liabilities = + 146, % Non Current Liabilities Long term liabilities + 471, % Loans to Stockholders + 12, % Total Non Current Liabilities = + 483, % Equity + 157, % Total Liabilities & Equity = 787, % Total assets should equal liabilities plus equity
3 Total Sales all Profit Centers $ 2,537,885 Number of Percent of Participating Total Income Statement Information Companies Revenue By Profit Centers A. Rafting (guided trips) Rafting companies Rafting Income (do not include sales tax) Raft trips (1/2 day and shorter trips) + 419, % Raft trips (full day) + 569, % Multi-day raft trips + 181, % Guided duckie trips + 45, % Large Rafts & Jet boat trips (12 or more passengers per boat % Fishing trips + 18, % (Refunds) - (1,417) % Total rafting Income = + 1,232, % (Directly related to rafting) Guide wages (day trips) (Gross payroll) + 174, % Guide wages(multi-day trips) + 30, % Guide wages (duckies) + 8, % Wages Large Rafts & Jet boat trips (12 or more passengers per boat % Fishing guides + 5, % Other guide compensation (health insurance, daycare, etc.) + 3, % Total guide wages & compensation = - 223, % Accommodations - 0 Full Day food + 44, % 1/2 Day food + 5, % Multi-day food + 15, % Other food costs + 10, % Total direct food costs = - 76, % "Rafting" Profit Center Gross Margin = + 932, %
4 Income Statement Information Number of Percent of By Profit Centers Participating Total Rafting companies Companies Revenue continued B. Retail Gross Retail Income (do not include sales tax) Sales retail + 150, % Sales wholesale + 2, % Sales employee + 10, % Photo/video (collect net check) 13, % Photo/video (collect gross sales) + 55, % Total retail Income = + 232, % (Directly related to retail) Sales wages - 23, % + Beginning Inventory (retail items) + 28, % + Purchases for resale + 70, % - Cost of employee purchases - 1, % - Cost of Uniforms/give aways - 1, % - Ending inventory - 28, % Cost of goods sold = - 67, % Photo/video cost + 22, % Photo/video wages + 25, % Other photo/video costs % Total photo/video costs = - 47, % Freight - 6, % Other direct costs - 8, % "Retail" Profit Center Gross Margin = + 78, % C. Rentals Rental Income (do not include sales tax) Rafts, Canoe & inflatable + 28, % Wetsuit, booties & rain suit + 17, % Other rental + 4, % Total rental income = + 50, % (Directly related to Rental) Rental employee wages + 5, % Insurance rental liability % Cleaning & maintenance + 2, % Total rental costs = - 8, % "Rental" Profit Center Gross Margin = + 42, %
5 Income Statement Information Number of Percent of By Profit Centers Participating Total Rafting companies Companies Revenue continued D. Campground & Lodging Campground & Lodging Income (do not include sales tax) Lodging (collect gross fee) + 224, % Campground (collect gross fee) + 22, % Lodging (collect net fee) + 1, % Campground (collect net fee) % Commissions received for booking lodging & Campgrounds + 21, % Total camping & lodging Income = + 269, % (Directly related to camping & lodging) Cleaning wages lodging (Gross wages) + 28, % Cleaning wages camping + 15, % Reservationist/office wages (Directly related to lodging) + 21, % Reservationist/office wages (Directly related to camping) + 17, % Insurance lodging liability + 2, % Insurance camping liability + 2, % Total direct camping & lodging costs = - 88, % "Campground & Lodging" Profit Center Gross Margin = + 181, % E. Food & Beverage (non trip) Gross Food & Beverage Income (do not include sales tax) Food & beverage sales + 263, % Beer wine & liquor sales + 82, % Employee meals sales + 5, % Total food & beverage income = + 352, % (Directly related to food & beverage) Waiter/waitress wages (food) + 37, % Cook & prep wages + 75, % Beer wine & liquor wages + 7, % Total direct food labor = - 120, % + Beginning inventory + 1, % + Food & beverage purchases + 106, % - Cost of employee meals % - Cost of complimentary food % - Cost of complimentary beer wine & liquor % - Ending inventory - 2, % Total cost of food & liquor = - 104, % "Food & Beverage" Profit Center Gross Margin = + 127, %
6 Income Statement Information Number of Percent of By Profit Centers Participating Total Rafting companies Companies Revenue continued F. Booking other activities Booking other activities Income (do not include sales tax) Income from end user + 25, % Other booking other activities income + 6, % Total booking other activities income = + 31, % Booking agent wages + 20, % Other wages + 5, % Direct phone costs % Booking supplies % Advertising % Total direct costs = - 25, % "Booking other activities" Profit Center Gross Margin = + 5, % G. Instruction Instruction Income (do not include sales tax) Kayak Instruction + 40, % Guide Training/Rescue Classes + 5, % Other instruction income + 22, % Total instruction income = + 68, % Kayak instruction wages + 11, % Guide Training Wages + 4, % Other Instruction wages + 7, % Total direct instruction labor = - 23, % "Instruction" Profit Center Gross Margin = + 44, % Other Income (do not include sales tax) Cancellation Insurance + 10, % Sale of Used Equipment + 7, % Interest Income + 5, % Access Fees (Charging for Put-in, etc) + 62, % Cancellation Fees (Trips not taken but charged) + 42, % Refunds - 1, % Misc. Income + 174, , % Gross margin from all profit centers plus other income = 1,714, % All income should be included in the profit center pages
7 Income Statement Information Number of Percent of Other Expenses Participating Total Other Expenses Rafting companies Companies Revenue Other payroll Management wages + 97, % Owners wages + 59, % Training wages (non Guide) + 2, % Reservationist/office wages + 39, % Marketing wages + 33, % Accounting wages + 21, % Other compensation + 69, % Payroll taxes (all) + 65, % Guide Housing + 17, % Employee benefits + 30, % Total other payroll cost = + 436, % Transportation costs Maintenance vehicle + 22, % Daily Fuel and oil vehicle + 20, % Multiday Fuel & Oil + 5, % Drivers Wages + 33, % Other transportation services + 26, % Total transportation costs = + 108, % Insurance cost Insurance river liability + 25, % Insurance workmen's comp + 21, % Insurance facilities + 13, % Insurance vehicle + 16, % Total insurance cost = + 76, % Advertising & printing Advertising (magazine TV & radio) + 29, % Trade Shows + 5, % Trade Show Travel Meals & Lodging + 14, % Internet advertising + 37, % Postage + 20, % Printing + 34, % Total advertising, printing & Trade Shows = + 143, %
8 Income Statement Information Number of Percent of Other Expenses Participating Total Rafting companies Companies Revenue Office costs Bank charges + 1, % Credit card charges + 27, % Commission expense + 4, % Supplies/Copies/other + 8, % Computer support & supplies + 7, % Professional fees + 8, % Bookkeeping fees + 6, % Utilities + 12, % Telephone + 15, % Total office costs = + 92, % Facilities Cost Rent + 33, % Rent to owners + 62, % Depreciation "facilities" + 27, % Repair & Maintenance "facilities" + 22, % Interest "facilities" + 43, % Total facilities cost = + 190, % Other costs Access/franchise fees/water release (Fed., state, local, private) (no sales tax+ 38, % Depreciation "equipment" (Use Tax Depreciation) + 41, % Depreciation (179 expense) + 41, % Amortization 14, % Charity + 1, % Conventions + 5, % Operating supplies + 19, % River equipment repair & maintenance + 11, % Jet boat repair & maintenance % Fuel & oil for motorized trips % Dues to professional organizations + 7, % Medical Supplies + 1, % Medical Reimbursement of Employees and Owners + 5, % Operating supplies + 8, % Miscellaneous + 15, % Interest "non facilities" + 11, % Drug Testing + 1, % Bad Debt + 1, % Meals- Restaurant + 2, % Other costs not included elsewhere + 104, % Total other costs = + 335, % Total all other expenses = - 1,381, % Net Income (A-B) (This should equal your book net income) = 332, % (Total all Gross Margins - Total other expenses)
9 Other Information Number of Percent of Rafting companies Participating Total Companies Revenue Rafting equipment purchased 26, % Rafting supplies purchased 8, % Wet suit & booties purchased 3, % Daily Average customers per boat (guided raft trip) 6.17 Multi Day Average customers per boat 5 Years in business 27 Are you from east of the Mississippi? 9 East of Mississippi, 5 West of the Mississippi FMV of Facilities owned by owners and company 1,062,143 All compensation to owners (wages, distributions, rental, benefits, e 80,765 Average customers per boat (Jet boat trip) 0 Average customers per boat (Fishing trip) 2 Average customers per boat (raft rental) 4 Percentage of growth in gross sales over last year 5.29% Percentage of owners time spent in the following areas Guiding Trips % Retail % Instruction % Marketing % Administration % Training % Management % Other % Total Owners Time %
10 Rafting Industry Ratio's Balance Sheet Ratio's Current Ratio (Current Assets/Current Liabilities).83 to 1 Sales to Assets 2.66 to 1 (Sales to Assets) Debt to Equity 4.24 to 1 Income Statement Ratio's Gross Profit Percentage 63.17% Daily Rafting Wages/Daily Rafting Income 17.67% Multiday Rafting Wages/ Multiday Rafting Income 16.98% Daily Food/ Daily Rafting Income 4.48% Multiday Food/ Multiday Rafting Income 8.61% Liability Insurance/Total Rafting Income 2.07% Workman's Comp/Total Rafting Income 1.73% Access Fees/Total Rafting Income 3.16% Fuel Oil & Vehicle Maintenance/Total Rafting Income 8.77% Cost of Retail Goods/Retail Sales (without photos) 41.50% Line items that should be included in the next study Balance sheet Income Statement Profit Centers Cabin Rentals Building and Land Current Portion of Long term Debt Litigation expense Property Tax Dues/Licenses/Permits Laundry expense Maintenance
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