Lifestyle Interiors Functionality with flair… Li Business Plan Submitted to: Mir Semon Haider Course Instructor, MGT368 North South University Submitted by: GROUP MEMBERS: Kazi Naim Uddin ID# 052 027 030 Md. Abrar Hossain ID# 052 387 030 Syeda Samira Saif ID# 043 267 030 Farihan F. Rahman ID# 051 284 030 Faria Fahmin Shihab ID# 042 323 030 M. Rafiuzzaman Bokhari ID# 043 227 030 GROUP 09/04/2008
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Lifestyle InteriorsFunctionality with flair…
LiBusiness Plan
Submitted to:
Mir Semon HaiderCourse Instructor, MGT368North South University
Submitted by:
GROUP MEMBERS:
Kazi Naim UddinID# 052 027 030
Md. Abrar HossainID# 052 387 030
Syeda Samira SaifID# 043 267 030
Farihan F. RahmanID# 051 284 030
Faria Fahmin ShihabID# 042 323 030
M. Rafiuzzaman BokhariID# 043 227 030
GROUP
09/04/2008
April 9th, 2008.
Mir Semon Haider
Course Instructor, MGT 368
North South University
Banani, Dhaka-1212
Subject: Submission of the project report.
Dear Sir,
We are very pleased to submit the final project report of an interior design organization report for
the course MGT 368. Our main incentive is to prepare this project according to your guidelines
about ‘Entrepreneurship’ in accordance with your instructions. We have tried our best to produce
our work as per your strictures and hope we believe we have done an adequate job considering
our level of experience and expertise.
We are extremely grateful for the opportunity that you gave us to express our innovative ability
and we earnestly hope that you will like the work that we have done. Furthermore, we stand by
to answer all queries regarding our work and pledge that our report is a unique production
culminated by the amalgamation of our varied skills and had work.
etc. supplied at competitive prices. A detailed quotation is supplied for the client’s approval prior
to the placement of any purchase orders.
Supply of Materials (Commercial) - We charge a negotiated handling commission based on a
percentage of the total cost price of the supply contract. We reserve the right to decide the
commercial status of any potential project and proof of status will be required.
Disbursements - Standard postage, telephone, travel within the region of operation and parking
are included. Overseas phone calls and faxes charged at cost. Photocopies of design drawings are
charged at cost. Special courier charged at cost. Most of our day to day costs are covered by the
standard design fee. However extraordinary costs as detailed are chargeable. Travel and parking
outside the within the region of operation and unavoidable accommodation fees are chargeable at
cost. VAT is applicable on disbursements charged.
Payment of Account - A design fee deposit of 50% is payable upon engagement with the
remainder payable upon delivery of sampleboard or design drawings. A deposit of 75% (100% in
the case of fabrics, trimmings, wallcoverings and bespoke furniture items) against detailed
quotation for materials is required to facilitate ordering. Remainder payable upon terms set out in
agreement letter. Design Fees are invoiced upon delivery of the sampleboard or design drawings.
The balance payment must be received no later than seven days after the date of the invoice.
No materials will be ordered until a deposit of 75% (100% in the case of fabrics, trimmings,
wallcoverings and bespoke furniture items) of the full invoice value (including VAT) has been
received.
Final payment for any one item becomes due prior to delivery of that item.
We undertake to supply up-to-date statements of account with our requests for payment or upon
demand.
Physical Plant
Marketing Plan
Marketing Plan
Our new marketing focus, made explicit in this plan, renews our vision and strategic focus on
adding value to our target market segments, the small business and high-end home office users,
in our local market. Our marketing challenge is to position our product and service offerings as
the high-quality, high value-add alternative to box pushing in a vacuum.
Market Needs
Lifestyle Interiors is providing its customers the opportunity to create a home environment to
express who they are. They have the choice to select their fabric and go whatever direction they
choose -- to fabric it themselves or have it done for them. They have the opportunity to actively
participate in the design, look, and feel of their home. They desire their home to be personal,
unique, and tasteful as well as communicate a message about what is important to them. We seek
to fulfill the following benefits that we know are important to our customers.
Selection - A wide choice of current and tasteful decorator materials.
Accessibility - The buyer can walk out of the office with the fabric and accessories they
need to begin their project.
Customer Design Services - Employees have a design background to make them a
resource for the customer. This enables customers to benefit from suggestions regarding
the selection of their fabric and related products in a manner to complement their design
choice.
Competitive Pricing - All products will be competitively priced in comparison to other
firms and other channels of distribution, such as catalog sales.
Pricing Structure:
Fee structures vary widely, depending on the designer, complexity of the project, geographical
location and a host of other factors. Some of the ways interior designer's charges for their
services include:
Fixed fee (or flat fee)—The designers from Lifestyle Interiors will identify a specific
sum to cover costs. One total fee applies to the complete range of services, from
conceptual development through layouts, specifications and final installation.
Hourly fee—Some designers may charge based on the actual time spent on a project or
specific service based on the required detail and other professionals who may need to be
consulted.
Percentage fee—Compensation is computed as a percentage of construction/project costs.
Cost plus—A designer purchases materials, furnishings and services (e.g., carpentry,
drapery workrooms, picture framing, etc.) at cost and sells to the client at the designer's
cost plus a specified percentage agreed to by the client. The service charge is often put at
20–30 percent.
Retail—Others charge their clients the retail price of furnishings, furniture and all other
goods they get wholesale, keeping the difference as designer's fee and services. Retail
establishments offering design services commonly use this method. With this method,
clients get the designers services at a price no greater than he or she would have paid for
the products at retail.
Per square foot—Often used for large commercial properties, the charge is based on the
area of the project.
Income Potential:
What is unique about the interior design business is that one never does the same job twice. It
will be hard to place a specific price on individual projects. What the firm will earn from a job
that requires redecoration of an entire room from the carpet, wallpaper to upholstery will be
different from a job that requires oneself to put up drapes to ten windows.
Promotion
Branding: This is one of the most important aspects for us. We want to establish ourselves in the
market as the most unique interior design firm. Our name is our brand. "Lifestyle Interiors"
represents our mission of celebrating the home through the color and texture of fabric and
design. The brand invokes the fact that the home should be a unique and personalized expression
of the person living there. The home is a vision of the home's owner
In addition to our name, our logo reflects the architectural quality of the work that we do. Our
products are more than just decoration; they enhance and reflect the home itself.
Marketing Mix
In brief, our marketing mix is comprised of these approaches to pricing, distribution, advertising
and promotion, and customer service.
Pricing -- A keystone pricing formula will be applied for most works. The goal is to have price
points within 5% of the list price. This insures competitive pricing and strong margins.
Distribution – As this is a service, distribution medium will primarily be advertising and
promotion. The firm will receive phone orders from established customers and we will be
developing a website. Also, distribution can be done through catalog servicing.
Advertising and Promotion -- The most successful advertising will be through the Newspapers
and through ads on Interior Designing television shows. The quarterly newsletter will also be
proven to be an excellent method to connect with the existing customer base.
Customer Service -- Excellent, personalized, fun, one-of-a-kind customer service is essential.
This is perhaps the only attribute that cannot be duplicated by any competitor.
Market Penetration: Our plan is to gradually penetrate the market using all these mix of
marketing and promotional strategies. We want to establish ourselves as a unique interior
designing firm that caters to the customers every need. In 3 years, we hope to reach a high stage
and offer unique services to our clients which no other firm can.
Public Relations
Our public relations plan is to pitch a twice-monthly column in the "Home" section of the local
paper, covering our in-store classes, with profiles of our customers and their redecorated rooms.
Readers will see how our classes directly relate to individual decorating projects.
Financial objectives: create sales growth of 12%, reduce existing credit line, and increase the
average taka amount per transaction
Marketing objectives: increase visibility of the company for potential customers, and better
retain existing customers
Promotional Tools are an important aspect of our business venture. We hope to stand out in the
market using our unique selling point (USP):
Our primary points of differentiation offer these qualities:
The most extensive access to in-stock, first quality decorator fabrics within 100 miles of
our primary geographic market and offered at affordable prices.
The largest selection of special-order fabrics, with arrangements to have most of those
products shipped to the store within 10 days of placing the order.
Personal assistance from a design-oriented staff that is qualified and capable of meeting
the needs of discerning customers with high expectations.
Complementary product offering, including hard-covering window treatment, hardware,
home accessories, made-to-order upholstered furniture, and antiques that are designed,
selected, and displayed in a way to emphasize the use of fabric in home design.
Positioning
For the person creating a personalized and unique impression of his/her home or office, Lifestyle
Interiors is the best local source for selection and price points of the fabric, customer-oriented
design services, and a variety of other home accessory and furniture products. Customers will be
impressed with, and return for, the great in-stock selection, value-oriented pricing, and excellent
customer service. Lifestyle Interior is a pleasant and tasteful resource that encourages everyone
in the process of decorating their home. Unlike employing an interior decorator, Lifestyle
Interior allows the individual to participate in their design choices to the extent they choose, and
realize greater value for the money they invest.
Lifestyle Interiors will rely extensively on word of mouth advertising. However it will be
important to create awareness of our services to the target market. To attract attention and create
awareness, signs and billboards will display our name and describe our services to the many
individuals who maybe interested to take our service. Pamphlets will also be distributed along
with weekly magazines and local newspapers to residential and official buildings in the target
market.
We will also maintain close network with builders, real estate companies and developers.
Newspapers and magazines will also display special editorial columns and print ads on weekdays
describing Lifestyle Interiors and its services.
Service forecasts
Service
In Lifestyle Interiors, our first goal is to recognize everyone as they come into the office. If they
are a repeat customer, they are to be referred by name. If they are a new customer, they are
asked, "How did you hear about us?" Help is always available and never invasive. The office is
staffed to be able to dedicate time and energy to customers that want assistance when they need
it. The office is designed so a customer can sit as long as they want to look at design books,
fabric samples, and review the resources in the store. Their children are also welcome, with a
television, and toys available in the children’s' area in clear view of the resource center. We will
provide service in a way that no other competitive interior design firm can touch. It is one of our
greatest assets and points of differentiation. Insight, ideas, inspiration, and fun is the goal. A
repeated, high value purchase from loyal customers is the desired end product.
We at Lifestyle Interiors understand that virtual makeovers have revolutionized interior design
from a customer perspective, making the design process more interactive and exciting, in a
relatively technological but labor intensive environment. The low level of industry concentration
and the low barriers to entry ensure that competition will remain intense in the future.
Lifestyle Interiors is a customized designer office of home decorator accessories and
complementary home items now in its third year. This destination store offers the advantages of
providing accessories and fabrics specifically designed for home decorator use. Over 1,000
fabrics and design materials are available on the floor at any time. The goal of this Web plan is to
extend the reach of the store to others outside the area and add to the revenue base.
Lifestyle Interiors currently has a website but has not given it the attention or focus needed to
assess its marketing potential. The site offers basic functions and we consider it to be a crude
version of what we can imagine it will become through a site redesign that will produce revenue
and enhance the image of the business.
Market research indicates a specific and growing need in the area for the products and services
Lifestyle Interiors offers in the market it serves and there are indications that Web sales will play
an increasing role in connecting customers with sellers. The most significant challenge is that the
core target customer, women between the ages of 35 and 50, are some of the least likely of
groups to shop on the Web. Shopping for home designs presents an additional challenge.
The online marketing objective is to actively support continued growth and profitability of
Lifestyle Interiors through effective implementation of the strategy. The online marketing and
sales strategy will be based on a cost effective approach to reach additional customers over the
Web to generate attention and revenue for the business. The Web target groups will include the
more Web-savvy younger customer base that the firm will like to serve (women between the ages
of 25 and 35) and out-of-area potential customers that are already shopping on the Web for the
products Lifestyle Interiors offers. The website will focus on its selection, competitive pricing,
and customer service to differentiate itself among other Internet options.
Lifestyle Interiors’ website is for the person who wants his/her home to be an individual
expression of who he/she is. Lifestyle Interiors will provide these customers with first quality
decorator material selections and complementary products to decorate their homes, as well as
intelligent and helpful customer service and support for each sale.
Lifestyle Interiors is a pleasant and tasteful resource that encourages everyone in the process of
decorating their home, allows the individual to participate in their design choices to the extent
they choose, and offers greater value for the money they invest.
Product Marketing
Our products enable our customers to experience support, gather ideas and options, and
accomplish their decorating goals. They will be able to create a look that is truly unique to their
home. They will not be able to do this in the same way through any other resource.
Pricing
Product pricing is based on offering high value to our customers compared to most price points
in the market. Value is determined based on the best quality available, convenience, and
timeliness in acquiring the product. We will consistently be below the price points offered
through interior designers and consistently above prices offered through the warehouse/seconds
firms, but we will offer better quality and selection.
Advertising
We plan to advertise heavily in Dhaka and also expand newspaper advertisements to different
cities, and buy two half-page ads every month. Continue television ads.
Controls
The following will enable us to keep on track. If we fail in any of these areas, we will need to re-
evaluate our business model:
Gross margins at or above 45%.
Month-to-month annual comparisons indicate an increase of 20% or greater.
Do not depend on the credit line to meet cash requirements.
Implementation
We will manage implementation by having a weekly milestones meeting with the entire staff to
make sure that we are on track with our milestones and re-adjust our goals as we gather new
data.
Keys to Success
Maintain gross margins in excess of 45%.
Retain customers to generate repeat purchases and referrals.
Organizational Plan
Organizational Plan:
An organizational plan is a very important part of any business plan. Here, we have tried to
create a well informative organizational plan that will give any potential investor a clear
understanding of who controls the organization and how other members will interact in
performing their management function.
Owners and their Authority:
LIFESTYLE INTERIOR will be a privately owned firm and will be operated by its founder
partners, Kazi Naim Uddin, Md. Abrar Hossain, Syeda Samira Saif, Farihan F. Rahman, Faria
Fahmin Shihab and M. Rafiuzzaman Bokhari. Each of them will share the profit and all are
active participants in management decisions. As they are equally qualified in different areas of
business sector, they are currently acting, as the heads of different departments to minimize
personnel cost.
Organization Philosophy:
The company's management philosophy is based on responsibility and mutual respect.
LIFESTYLE INTERIOR has an environment and structure that encourages productivity and
respect for clients and fellow employees. The company's goal is to create an environment where:
Creativity can flourish.
Generating new ideas and products is well rewarded.
Management structure is relatively flat and communication is encouraged.
Mutual respect and sharing of knowledge is encouraged.
Organization Structure:
Our organizational structure will be simple and based on a relatively flat approach. We will have
a management team of six people handling the various management aspects of the business, and
a design team of seven, including a chief designer with 3 subordinate designers and 3 draftsmen.
Aside from the core team, we will also have a peon for small errands and office maintenance,
and a guard for security. Our top level strategy formulation will be dealt with by the management
team, composed of all the founding members.
Management Team
Syeda Samira Saif, Head of Finance and Accounts - MBA, Major in Finance and Accounting. He
has 5 years experience in Standard Chartered Bank Ltd.; and is also looking after his family
business.
Kazi Naim Uddin, Head of Marketing and Selling - MBA, Major in Marketing. He has 5 years
experience in a multinational telecommunication marketing department. He has obtained training
on sales and marketing at home and abroad.
Md. Abrar Hossain, Head of HR, MBA specialized in Human Resource Management. He has 4
years experience in a multinational company and 1 year in local corporate house.
Farihan F. Rahman, Head of Customer Care, with an MBA in management. He will manage the
Customer Care service Department. He has worked in the position of General Manager for
Grameen Phone Co. for about 2 years.
Faria Fahmin Shihab, Head of Public Relations. An MBA with dual major in HR and Accounting
and INB. Moreover, she has a five year experience in HR Department of a foreign company.
M. Rafiuzzaman Bokhari, Head of Information Systems - MBA, Major in Information Systems
and Finance. He has for Young Star Syndicate and Seluloyd, and is also looking after his family
business.
Roles and Responsibilities of Members of organization
Top level strategy and management: Our top level strategy formulation will be dealt with by
the management team, composed of all the founding members.
Management team:
Head of Finance and Accounts – will be in charge of all accounts and finances of our company,
and all matters dealing with it.
Head of Marketing and Selling – will be our marketing guru and the person who can formulates
the selling strategies and watches the market for changes which affect our business.
Head of HR – will be our people person for our employees, maintaining the pay scales chart and
strategies to maintain our employee pool and attract/scout talent (and keep it).
Head of Customer Care – will be in charge of dealing with our client handling and formulating
our service and after service plans for customer care.
Head of Public Relations – will be in charge of dealing with public relation issues and be our
representative for the outside world, and also the person we will rely upon to scout out new
opportunities for our business in terms of new clients.
Head of Information Systems – will be in charge of all technology related issues such as
computer information systems, the latest software and hardware, and how they can help us in our
business. The constant upgrade to stay in touch with the latest technology while doing a cost
benefit to justify it, will also be part of the job.
Design team:
Chief Designer – will be in charge of coordinating and planning the design effort with the rest of
the design team and advising on projects and the dos and don’ts of our current capabilities.
Designer – the subordinate designers will work under the chief and will be the backbone of our
design firm.
Draftsmen – will work for the designers and prepare the necessary materials and finishing for
drawings and models.
Workers:
Peon – miscellaneous office work.
Guard – in charge of office security.
Assessment of Risk
Assessment of Risk
We have done an assessment of risk and the reason behind that is in every new venture there are
some probabilities of potentials hazards in the industrial environment and as well as in the
competitive environment. Then we have also given some alternative strategies to meet our
business plan goals and objectives.
The company recognizes that it is subject to both market and industry risks. The company's view
of its risks, as well as how each is being addressed, is as follows:
Regulations: Possible problems caused by a sudden change in regulation by local, State
authorities can affect this industry a lot. From the time that care taker government has taken over,
the condition of most of the industries is not that good. Though they have not changed any
regulations for any event management companies yet, but they have already changed many
regulations of other industries so there is no guarantee that they will not change anything from
this sector
Legal issues: Event management firms always have to ask for permissions from the city mayor,
police officer in charge of that area, nowadays from RAB and sometimes from other authorities
too. If these authorities do not allow the event to take place then we the management of Triumph
Media just can not do anything to make it possible.
Client’s control or Bad Debt: Since the company is new, it will be seen that the clients will ask
the company to do an event for them; and pay the company after successfully completing the
work. In this sort cases most of the time it has been seen that when the payment time comes
usually the clients do not agree to give the full amount, that both the parties fixed before. This
may lead to some problems for the company as they are not receiving that the amount they
targeted and worked accordingly.
EVALUATE WEAKNESSES OF BUSINESS:
Every business is subject to exposure to the chance of injury or loss that is risk, which arises
from the weaknesses of the business.
In uncertain economic times, most businesses may have to undergo downsizing to curtail
the cost associated with the company. In case of manufacturing business as long as the
product and it delivery is properly done customers will be happy. But in a service based
business the satisfaction of the customer is more often related to one particular person
who may be providing the service. Thus in a downsize if we have to lay off a designer
then clients who prefer designs of that designer may switch.
There is shortage of skilled carpenters, glaziers and metal workers who can produce
good quality work. Suitable materials for good design are not available at all or in
large enough quantities to use them in interior design. Consequently, this raises the
cost of materials and thereby the end charges of the service which may become
sometimes very difficult to communicate and justify to the client.
Latest techniques and machines are not much available for good finishing and high
quality work. Thus, even if we have contracts with architects it may not solve our
problem as they are also facing similar situation. In interior designing many different
softwares are required, all of which may not be available.
The Interior design business is quite dynamic as there is constant need of adapting to the
changes in taste and fashion. Thus, we have to be very much open to the environment to
adapt to the changes in fashion and trends. In addition, we should also be able to become
trend setters.
One of the major difficulties that we might face is that, we- the management team do not
have a specialized designer or architect in our team who has actually taken a degree in
this field such as an architect or interior designer or graphic designer. Thus, it may
become slightly difficult for us to choose the right designers who will give us the correct
information about the market prices and cost of materials and charge us the remuneration
that is worth his/her work. Thus, we will consult quite a few designers and then make a
decision of whom to hire.
NEW TECHNOLOGIES:
The practice of interior design has become complex, technical and demanding, so a need arises
in technical design skills and sales skills to compete. Interior design software packages will be
essential for better design solutions. Today's information technology environment has a profound
effect upon the interior design profession. Consulting in areas outside our traditional training, we
must now assist our clients with decisions on home wiring and cable needs, computer hardware
placement and space requirements for accompanying equipment, home theater electronics and
more. While we will offer advice, our Information Tech staff will have final say on the
placements because we are trained to envision the design of the total space, we must understand
how each individual issue affects another and the key importance of advanced planning.
Computer–aided design (CAD) or AutoCAD softwares increasingly is used in all areas of design
for the virtual design of interior. This helps clients to have an idea of what the design will be
without incurring the cost of physical and actual construction. The client can easily recommend
changes and make the process cost effective. Interior designers use computers to create
numerous versions of interior space designs—making it possible for a client to see and choose
among several designs; images can be inserted, edited, and replaced easily and without added
cost. Modified softwares of CAD are already available in other places of the world such as
VRKitchen, 3D, Punch! Interior Design Suite etc. for designing particular areas. When the need
arises we may have to purchase better and more advanced softwares for more efficient and faster
service to gain client confidence.
Contingency Planning
Slow sales resulting in less-than-projected cash flow.
Unexpected and excessive cost increases compared to the forecasted sales.
Overly aggressive and debilitating actions by competitors.
A parallel entry by a new competitor.
Worst case risks might include:
Determining the business cannot support itself on an ongoing basis.
Losing the assets of the investors used for collateral.
Dealing with the financial, business, and personal devastation of the firm’s failure.
Contingency Plans for future
Our best sales in the future will come from our current customer base. In order to build this
customer base, we need to provide exceptional customer service when they visit the store, have
regular follow-up correspondence to thank them for their business (as well as to notify them of
special promotions, etc.), and to provide personal shopper support so that each visit to the design
office to meets their needs.
In order to keep track of these activities, we will need to create a spreadsheet showing follow-up
correspondence with customers and what, if any, feedback we have received from them. At least
quarterly, we will plan to meet and discuss if we are, in fact, retaining our current customers and
whether that base has grown, or what changes may need to be made.
Financial Plan
FINANCIAL PLAN
Start-Up Expense
Requirements Tk
START UP EXPENSES
Legal 10,000
Stationery etc. 30,000
Supplies of the Design Team 150,000
Website development 75,000
Company's Initial Promotion 300,000
Interior costing 750,000
Miscellaneous 50,000
Computer and the softwares 180,000
Salaries & Wages 162,500
Total Requirements 1,707,500
FUNDINGS
Investment 25,000,000
Equity Capital* 25,000,000
Debt from Bank 0
Total Investment 25,000,000
*Each of the five partners contributed equally, 500,000 Tk and the sixth partner will provide us with the floor space that he has inherited, thus he will not pay any money.
LIFESTYLE
Pro Forma Income Statement - 3 Year Summary
For the Year ended 31 December, 2008, 2009, 2010
PARTICULARS Year 1 Year 2 Year 3
Service 4,000,000 5,600,000 8,000,000
Operating Expenses 3,730,000 3,070,000 3,160,000
Selling, General & Administrative Expense 1,000,000 600,000 600,000
Advertising & Promotion 400,000 200,000 200,000
Salaries & Wages 1,974,000 1,994,000 2,014,000
Use of contractual employees 50,000
Supplies 170,000 80,000 90,000
Utilities 96,000 101,000 106,000
Miscellaneous 90,000 95,000 100,000
Operating Profit 270,000 2,530,000 4,840,000
Depreciation-Equipment 40,083 40,083 40,083
Net Profit Before Tax 229,917 2,489,917 4,799,917
LESS: TAX (5%) 11,496 124,496 239,996
Net Profit After Tax 218,421 2,365,421 4,559,921
ASSUMPTIONS
Depreciation Method- Straight Line Method
FORECASTED CASH FLOW STATEMENT
2008 2009 2010
Cash flow from Operating Activities
(Adjustment to reconcile net income to net cash
provided by Operating activities)
Net Income 218,421 2,365,421 4,559,921
Add: Depreciation-Equipment 40,083 40,083 40,083
Less: Accounts Receivable 0 0 3,200,000
Net Cash Provided by Operating Activities 258,504 2,405,504 1,400,004
Cash Flows from other activities
Less: Capital Expenditure 180,000 0 0
Net cash Provided by Other Activities 180,000 0 0
Net increase in cash 78,504 2,405,504 1,400,004
Add: Cash at the Beginning of the year 24,531,413 22,294,413 20,089,913
Cash at The End of the Year 24,609,917 24,699,917 21,489,917
LIFESTYLE
Pro Forma Balance Sheet
For the Year ended 31 December, Years 1,2 & 3
Year 1 Year 2 Year 3
ASSETS
Current Assets
Cash Available24,609,917
24,699,917
21,489,917
Accounts Receivable 0 03,200,00
0
Supplies 170,000 80,000 90,000
Total Current Assets 24,779,917 24,779,917 24,779,917