mae xiii ucsg - maria celia lopez trabajo flujo caja-1

COSTO CAPITAL ÓPTIMOAporte Costo % % Participación

72,500.00 25% 50% 13%

72,500.00 10% 50% 5%

145,000.00 17.50%

TMAR 17.50%

CALCULO DEL TIR

AÑO INVERSION INGRESOS POLIZA INT POLIZA5%

0 -145000

1 237,900.00 6,617.86 330.89 215,050.00 2 265,947.50 15,949.64 797.48 235,806.25 3 272,596.19 16,220.50 811.03 242,158.78 4 279,411.09 16,478.25 823.91 248,689.87 5 286,396.37 16,721.57 836.08 255,404.97 6 293,556.28 55,115.45 2,755.77 262,309.71

TIR 13.45%

EL PROYECTO NO ES VIABLE EL TIR ES MENOR A LA TMAR

TIR 13.45%< TMAR 17.50%

Costo ponderado

Aporte Accionistas

Prestamo bancario

GASTOS OPERATIVOS

CALCULO DEL TIR DEPRECIACIÓN

FLUJO ACTIVOS FIJOS AÑO DEPRECIACIÓN

145,000.00 0 0 (145,000.00) 1 14,500.00

23,180.89 2 14,500.00 30,938.73 3 14,500.00 31,248.43 4 14,500.00 31,545.14 5 14,500.00 31,827.48 6 14,500.00

58,000.00 92,002.34 7 14,500.00 8 14,500.00

9 14,500.00 10 14,500.00

EL PROYECTO NO ES VIABLE EL TIR ES MENOR A LA TMAR

VALOR RESIDUAL

VALOR RESIDUAL

58,000.00

FLUJOS DE CAJAPRONOSTICO DE VENTAS

AÑO 0 AÑO 1 AÑO 2VENTAS

260,000.00 266,500.00 Ctas x Cobrar credito 60%Gastos en compras 70% 156,000.00 159,900.00

182,000.00 186,550.00 Ctas x Cobrar 30 dias 50% - Ctas x Cobrar 60 dias 30% 71,500.00 79,787.50 Ctas x Cobrar 90 dias 20% 39,000.00 47,775.00 Ctas x Cobrar contado 40% 23,400.00 31,785.00 Total ingresos x Vtas 104,000.00 106,600.00

237,900.00 265,947.50 FLUJO CAJA OPERATIVO

INGRESOSINVERSION INICIAL (145,000.00)

Ventas 237,900.00 265,947.50 EGRESOS -

Gastos de Publicidad 3% 7,800.00 7,995.00 Compras al Contado 70% 127,400.00 130,585.00 Compras Credito 30% mes sgte 30% 50,050.00 55,851.25

Sueldos 18,000.00 18,900.00 Beneficios Sociales 35% 35% 6,300.00 6,615.00 Alquiler 4,000.00 4,000.00 Gastos generales 1,500.00 1,500.00 Pago de Impuestos - 10,360.00

215,050.00 235,806.25 Total Flujo Operativo (145,000.00) 22,850.00 30,141.25

FLUJO FINANCIEROIngresos 100%

Aporte accionistas 50% 72,500.00 - Prestamos Bancos 50% 72,500.00 -

145,000.00 - Egresos

Pagos Bancos 0 12,083.33 12,083.33 pago interes bancario 10% 0 1,208.33 1,208.33

0 13,291.67 13,291.67 Total Flujo Financiero 145,000.00 (13,291.67) (13,291.67)

FLUJO TOTAL - 9,558.333 16,849.583 Saldo inicial Caja 30,465.42 33,405.89 Saldo final 40,023.75 50,255.47

Necesidad de Fondos (6,617.86) (15,949.64)Saldo minimo de Caja(SMC) 33,405.89 34,305.83

FLUJOS DE CAJA

AÑO 3 AÑO 4 AÑO 5 AÑO 6

273,162.50 279,991.56 286,991.35 294,166.14

163,897.50 167,994.94 172,194.81 176,499.68 191,213.75 195,994.09 200,893.95 205,916.29

81,782.19 83,826.74 85,922.41 88,070.47 48,969.38 50,193.61 51,448.45 52,734.66 32,579.63 33,394.12 34,228.97 35,084.69 109,265.00 111,996.63 114,796.54 117,666.45 272,596.19 279,411.09 286,396.37 293,556.28

272,596.19 279,411.09 286,396.37 293,556.28

8,194.88 8,399.75 8,609.74 8,824.98 133,849.63 137,195.87 140,625.76 144,141.41 57,247.53 58,678.72 60,145.69 61,649.33

19,845.00 20,837.25 21,879.11 22,973.07 6,945.75 7,293.04 7,657.69 8,040.57 4,000.00 4,000.00 4,000.00 4,000.00 1,500.00 1,500.00 1,500.00 1,500.00 10,576.00 10,785.25 10,986.97 11,180.35 242,158.78 248,689.87 255,404.97 262,309.71 30,437.41 30,721.22 30,991.40 31,246.57

12,083.33 12,083.33 12,083.33 12,083.33 1,208.33 1,208.33 1,208.33 1,208.33 13,291.67 13,291.67 13,291.67 13,291.67 (13,291.67) (13,291.67) (13,291.67) (13,291.67)

17,145.740 17,429.556 17,699.737 17,954.905 34,305.83 35,231.06 36,182.37 37,160.54 51,451.57 52,660.62 53,882.11 55,115.45

(16,220.50) (16,478.25) (16,721.57) (55,115.45) 35,231.06 36,182.37 37,160.54 -

ESTADO DE RESULTADOS

AÑO 1 AÑO 2 AÑO 3Ventas 260,000.00 266,500.00 273,162.50 (-) Costo de ventas (182,000.00) (186,550.00) (191,213.75)Utilidad Bruta 78,000.00 79,950.00 81,948.75 Egresos GASTOS EN PUBLICIDAD 7,800.00 7,995.00 8,194.88 Sueldo y Salarios 18,000.00 18,900.00 19,845.00 Beneficios Sociales 6,300.00 6,615.00 6,945.75 Alquiler 4,000.00 4,000.00 4,000.00 Gastos Generales 1,500.00 1,500.00 1,500.00 Depreciación Activos 14,500.00 14,500.00 14,500.00

Total Egresos 52,100.00 53,510.00 54,985.63 InteresesUtilidad antes de impuestos 25,900.00 26,440.00 26,963.13 Impuesto 40% 10,360.00 10,576.00 10,785.25

Utilidad Liquida del Ejercicio 15,540.00 15,864.00 16,177.88

SALDO MINIMO DE CAJA - SMC

AÑO DIAS1 215,050.00 3602 235,806.25 3603 242,158.78 3604 248,689.87 3605 255,404.97 3606 262,309.71 360

Dias de Inventario 30Dias Ctas x Cobrar 51Dias Ctas x Pagar 30CICLO DE CAJA 51

VALOR OPERATIVO

ESTADO DE RESULTADOS

AÑO 4 AÑO 5 AÑO 6 279,991.56 286,991.35 294,166.14 (195,994.09) (200,893.95) (205,916.29) 83,997.47 86,097.41 88,249.84 - - - 8,399.75 8,609.74 8,824.98 20,837.25 21,879.11 22,973.07 7,293.04 7,657.69 8,040.57 4,000.00 4,000.00 4,000.00 1,500.00 1,500.00 1,500.00 14,500.00 14,500.00 14,500.00 56,530.03 58,146.54 59,838.63 - - - 27,467.43 27,950.86 28,411.21 10,986.97 11,180.35 11,364.49

16,480.46 16,770.52 17,046.73

SALDO MINIMO DE CAJA - SMC

597.36 30,465.42 655.02 33,405.89 672.66 34,305.83 690.81 35,231.06 709.46 36,182.37 728.64 37,160.54

DIAS DE PAGO (% COBRANZAS)DIAS 30 50%DIAS 60 30%DIAS 90 20%

CAPITAL TRABAJO

51

FLUJO OPERATIVO AÑO 1

PRONOSTICO DE VENTASANUAL ene

VENTAS 260,000.00 21,666.67

Ctas x Cobrar credito 60% 156,000.00 13,000.00 Gastos en compras 70% 182,000.00 15,166.67

Ctas x Cobrar 30 dias 50% 71,500.00 Ctas x Cobrar 60 dias 30% 39,000.00 Ctas x Cobrar 90 dias 20% 23,400.00 Ctas x Cobrar contado 40% 104,000.00 8,666.67 Total ingresos x Vtas 237,900.00 8,666.67

FLUJO CAJA OPERATIVO

INGRESOSVentas 237,900.00 8,666.67

EGRESOSGastos de Publicidad 3% 7,800.00 650.00 Compras al Contado 70% 127,400.00 10,616.67

Compras Credito 30% mes sgte 30% 50,050.00 Sueldos 18,000.00 1,500.00 Beneficios Sociales 35% 35% 6,300.00 525.00 Alquiler 4,000.00 333.33 Gastos generales 1,500.00 125.00 Pago de Impuestos

215,050.00 13,750.00 Total Flujo Operativo 22,850.00 (5,083.33)

ESTADO DE RESULTADOS - AÑO 1Ventas 260,000.00 (-) Costo de ventas (182,000.00)

Utilidad Bruta 78,000.00 Egresos GASTOS EN PUBLICIDAD 7,800.00 Sueldo y Salarios 18,000.00 Beneficios Sociales 6,300.00 Alquiler 4,000.00 Gastos Generales 1,500.00 Depreciación Activos 14,500.00

Total Egresos 52,100.00

InteresesUtilidad antes de impuestos 25,900.00 Impuesto 40% 10,360.00 Utilidad Liquida del Ejercicio 15,540.00

feb mar abr may jun jul 21,666.67 21,666.67 21,666.67 21,666.67 21,666.67 21,666.67

13,000.00 13,000.00 13,000.00 13,000.00 13,000.00 13,000.00 15,166.67 15,166.67 15,166.67 15,166.67 15,166.67 15,166.67

6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 3,900.00 3,900.00 3,900.00 3,900.00 3,900.00

2,600.00 2,600.00 2,600.00 2,600.00 8,666.67 8,666.67 8,666.67 8,666.67 8,666.67 8,666.67 15,166.67 19,066.67 21,666.67 21,666.67 21,666.67 21,666.67

15,166.67 19,066.67 21,666.67 21,666.67 21,666.67 21,666.67

650.00 650.00 650.00 650.00 650.00 650.00 10,616.67 10,616.67 10,616.67 10,616.67 10,616.67 10,616.67

4,550.00 4,550.00 4,550.00 4,550.00 4,550.00 4,550.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 525.00 525.00 525.00 525.00 525.00 525.00 333.33 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 125.00

18,300.00 18,300.00 18,300.00 18,300.00 18,300.00 18,300.00 (3,133.33) 766.67 3,366.67 3,366.67 3,366.67 3,366.67

ago sep oct nov dic 21,666.67 21,666.67 21,666.67 21,666.67 21,666.67

13,000.00 13,000.00 13,000.00 13,000.00 13,000.00 15,166.67 15,166.67 15,166.67 15,166.67 15,166.67

6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 3,900.00 3,900.00 3,900.00 3,900.00 3,900.00 2,600.00 2,600.00 2,600.00 2,600.00 2,600.00 8,666.67 8,666.67 8,666.67 8,666.67 8,666.67 21,666.67 21,666.67 21,666.67 21,666.67 21,666.67

21,666.67 21,666.67 21,666.67 21,666.67 21,666.67

650.00 650.00 650.00 650.00 650.00 10,616.67 10,616.67 10,616.67 10,616.67 10,616.67

4,550.00 4,550.00 4,550.00 4,550.00 4,550.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 525.00 525.00 525.00 525.00 525.00 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00

18,300.00 18,300.00 18,300.00 18,300.00 18,300.00 3,366.67 3,366.67 3,366.67 3,366.67 3,366.67

FLUJO OPERATIVO AÑO 2

PRONOSTICO DE VENTASANUAL ene

VENTAS 266,500.00 22,208.33

Ctas x Cobrar credito 60% 159,900.00 13,325.00 Gastos en compras 70% 186,550.00 15,545.83

Ctas x Cobrar 30 dias 50% 79,787.50 6,500.00 Ctas x Cobrar 60 dias 30% 47,775.00 3,900.00 Ctas x Cobrar 90 dias 20% 31,785.00 2,600.00 Ctas x Cobrar contado 40% 106,600.00 8,883.33 Total ingresos x Vtas 265,947.50 21,883.33

FLUJO CAJA OPERATIVO

INGRESOSVentas 265,947.50 21,883.33

EGRESOSGastos de Publicidad 3% 7,995.00 666.25 Compras al Contado 70% 130,585.00 10,882.08

Compras Credito 30% mes sgte 30% 55,851.25 4,550.00 Sueldos 5% 18,900.00 1,575.00 Beneficios Sociales 35% 35% 6,615.00 551.25 Alquiler 4,000.00 333.33 Gastos generales 1,500.00 125.00 Pagos de Impuestos 10,360.00 -

235,806.25 18,682.92 Total Flujo Operativo 30,141.25 3,200.42

ESTADO DE RESULTADOS - AÑO 2Ventas 266,500.00 (-) Costo de ventas (186,550.00)

Utilidad Bruta 79,950.00 Egresos GASTOS EN PUBLICIDAD 7,995.00 Sueldo y Salarios 18,900.00 Beneficios Sociales 6,615.00 Alquiler 4,000.00 Gastos Generales 1,500.00 Depreciación Activos 14,500.00

Total Egresos 53,510.00

InteresesUtilidad antes de impuestos 26,440.00 Impuesto 40% 10,576.00 Utilidad Liquida del Ejercicio 15,864.00

feb mar abr may jun jul 22,208.33 22,208.33 22,208.33 22,208.33 22,208.33 22,208.33

13,325.00 13,325.00 13,325.00 13,325.00 13,325.00 13,325.00 15,545.83 15,545.83 15,545.83 15,545.83 15,545.83 15,545.83

6,662.50 6,662.50 6,662.50 6,662.50 6,662.50 6,662.50 3,900.00 3,997.50 3,997.50 3,997.50 3,997.50 3,997.50 2,600.00 2,600.00 2,665.00 2,665.00 2,665.00 2,665.00 8,883.33 8,883.33 8,883.33 8,883.33 8,883.33 8,883.33 22,045.83 22,143.33 22,208.33 22,208.33 22,208.33 22,208.33

22,045.83 22,143.33 22,208.33 22,208.33 22,208.33 22,208.33

666.25 666.25 666.25 666.25 666.25 666.25 10,882.08 10,882.08 10,882.08 10,882.08 10,882.08 10,882.08

4,663.75 4,663.75 4,663.75 4,663.75 4,663.75 4,663.75 1,575.00 1,575.00 1,575.00 1,575.00 1,575.00 1,575.00 551.25 551.25 551.25 551.25 551.25 551.25 333.33 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 125.00 - - 10,360.00 - ### - 18,796.67 18,796.67 29,156.67 18,796.67 18,796.67 18,796.67 3,249.17 3,346.67 (6,948.33) 3,411.67 3,411.67 3,411.67

ago sep oct nov dic 22,208.33 22,208.33 22,208.33 22,208.33 22,208.33

13,325.00 13,325.00 13,325.00 13,325.00 13,325.00 15,545.83 15,545.83 15,545.83 15,545.83 15,545.83

6,662.50 6,662.50 6,662.50 6,662.50 6,662.50 3,997.50 3,997.50 3,997.50 3,997.50 3,997.50 2,665.00 2,665.00 2,665.00 2,665.00 2,665.00 8,883.33 8,883.33 8,883.33 8,883.33 8,883.33 22,208.33 22,208.33 22,208.33 22,208.33 22,208.33

22,208.33 22,208.33 22,208.33 22,208.33 22,208.33

666.25 666.25 666.25 666.25 666.25 10,882.08 10,882.08 10,882.08 10,882.08 10,882.08

4,663.75 4,663.75 4,663.75 4,663.75 4,663.75 1,575.00 1,575.00 1,575.00 1,575.00 1,575.00 551.25 551.25 551.25 551.25 551.25 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 - - - - - 18,796.67 18,796.67 18,796.67 18,796.67 18,796.67 3,411.67 3,411.67 3,411.67 3,411.67 3,411.67

FLUJO OPERATIVO AÑO 3

PRONOSTICO DE VENTASANUAL ene

VENTAS 273,162.50 22,763.54

Ctas x Cobrar credito 60% 163,897.50 13,658.13 Gastos en compras 70% 191,213.75 15,934.48

Ctas x Cobrar 30 dias 50% 81,782.19 6,662.50 Ctas x Cobrar 60 dias 30% 48,969.38 3,997.50 Ctas x Cobrar 90 dias 20% 32,579.63 2,665.00 Ctas x Cobrar contado 40% 109,265.00 9,105.42 Total ingresos x Vtas 272,596.19 22,430.42

FLUJO CAJA OPERATIVO

INGRESOSVentas 272,596.19 22,430.42

EGRESOSGastos de Publicidad 3% 8,194.88 682.91 Compras al Contado 70% 133,849.63 11,154.14

Compras Credito 30% mes sgte 30% 57,247.53 4,663.75 Sueldos 5% 19,845.00 1,653.75 Beneficios Sociales 35% 35% 6,945.75 578.81 Alquiler 4,000.00 333.33 Gastos generales 1,500.00 125.00 Pagos de Impuestos 10,576.00 -

242,158.78 19,191.69 Total Flujo Operativo 30,437.41 3,238.73

ESTADO DE RESULTADOS - AÑO 3Ventas 273,162.50 (-) Costo de ventas (191,213.75)

Utilidad Bruta 81,948.75 Egresos GASTOS EN PUBLICIDAD 8,194.88 Sueldo y Salarios 19,845.00 Beneficios Sociales 6,945.75 Alquiler 4,000.00 Gastos Generales 1,500.00 Depreciación Activos 14,500.00

Total Egresos 54,985.63

InteresesUtilidad antes de impuestos 26,963.13 Impuesto 40% 10,785.25 Utilidad Liquida del Ejercicio 16,177.88

feb mar abr may jun jul 22,763.54 22,763.54 22,763.54 22,763.54 22,763.54 22,763.54

13,658.13 13,658.13 13,658.13 13,658.13 13,658.13 13,658.13 15,934.48 15,934.48 15,934.48 15,934.48 15,934.48 15,934.48

6,829.06 6,829.06 6,829.06 6,829.06 6,829.06 6,829.06 3,997.50 4,097.44 4,097.44 4,097.44 4,097.44 4,097.44 2,665.00 2,665.00 2,731.63 2,731.63 2,731.63 2,731.63 9,105.42 9,105.42 9,105.42 9,105.42 9,105.42 9,105.42 22,596.98 22,696.92 22,763.54 22,763.54 22,763.54 22,763.54

22,596.98 22,696.92 22,763.54 22,763.54 22,763.54 22,763.54

682.91 682.91 682.91 682.91 682.91 682.91 11,154.14 11,154.14 11,154.14 11,154.14 11,154.14 11,154.14

4,780.34 4,780.34 4,780.34 4,780.34 4,780.34 4,780.34 1,653.75 1,653.75 1,653.75 1,653.75 1,653.75 1,653.75 578.81 578.81 578.81 578.81 578.81 578.81 333.33 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 125.00 - - 10,576.00 - ### - 19,308.28 19,308.28 29,884.28 19,308.28 19,308.28 19,308.28 3,288.70 3,388.64 (7,120.74) 3,455.26 3,455.26 3,455.26

ago sep oct nov dic 22,763.54 22,763.54 22,763.54 22,763.54 22,763.54

13,658.13 13,658.13 13,658.13 13,658.13 13,658.13 15,934.48 15,934.48 15,934.48 15,934.48 15,934.48

6,829.06 6,829.06 6,829.06 6,829.06 6,829.06 4,097.44 4,097.44 4,097.44 4,097.44 4,097.44 2,731.63 2,731.63 2,731.63 2,731.63 2,731.63 9,105.42 9,105.42 9,105.42 9,105.42 9,105.42 22,763.54 22,763.54 22,763.54 22,763.54 22,763.54

22,763.54 22,763.54 22,763.54 22,763.54 22,763.54

682.91 682.91 682.91 682.91 682.91 11,154.14 11,154.14 11,154.14 11,154.14 11,154.14

4,780.34 4,780.34 4,780.34 4,780.34 4,780.34 1,653.75 1,653.75 1,653.75 1,653.75 1,653.75 578.81 578.81 578.81 578.81 578.81 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 - - - - - 19,308.28 19,308.28 19,308.28 19,308.28 19,308.28 3,455.26 3,455.26 3,455.26 3,455.26 3,455.26

FLUJO OPERATIVO AÑO 4

PRONOSTICO DE VENTASANUAL ene

VENTAS 279,991.56 23,332.63

Ctas x Cobrar credito 60% 167,994.94 13,999.58 Gastos en compras 70% 195,994.09 16,332.84

Ctas x Cobrar 30 dias 50% 83,826.74 6,829.06 Ctas x Cobrar 60 dias 30% 50,193.61 4,097.44 Ctas x Cobrar 90 dias 20% 33,394.12 2,731.63 Ctas x Cobrar contado 40% 111,996.63 9,333.05 Total ingresos x Vtas 279,411.09 22,991.18

FLUJO CAJA OPERATIVO

INGRESOSVentas 279,411.09 22,991.18

EGRESOSGastos de Publicidad 3% 8,399.75 699.98 Compras al Contado 70% 137,195.87 11,432.99

Compras Credito 30% mes sgte 30% 58,678.72 4,780.34 Sueldos 5% 20,837.25 1,736.44 Beneficios Sociales 35% 35% 7,293.04 607.75 Alquiler 4,000.00 333.33 Gastos generales 1,500.00 125.00 Pagos de Impuestos 10,785.25

248,689.87 19,715.84 Total Flujo Operativo 30,721.22 3,275.34

ESTADO DE RESULTADOS - AÑO 4Ventas 279,991.56 (-) Costo de ventas (195,994.09)

Utilidad Bruta 83,997.47 Egresos GASTOS EN PUBLICIDAD 8,399.75 Sueldo y Salarios 20,837.25 Beneficios Sociales 7,293.04 Alquiler 4,000.00 Gastos Generales 1,500.00 Depreciación Activos 14,500.00

Total Egresos 56,530.03

InteresesUtilidad antes de impuestos 27,467.43 Impuesto 40% 10,986.97 Utilidad Liquida del Ejercicio 16,480.46

feb mar abr may jun jul 23,332.63 23,332.63 23,332.63 23,332.63 23,332.63 23,332.63

13,999.58 13,999.58 13,999.58 13,999.58 13,999.58 13,999.58 16,332.84 16,332.84 16,332.84 16,332.84 16,332.84 16,332.84

6,999.79 6,999.79 6,999.79 6,999.79 6,999.79 6,999.79 4,097.44 4,199.87 4,199.87 4,199.87 4,199.87 4,199.87 2,731.63 2,731.63 2,799.92 2,799.92 2,799.92 2,799.92 9,333.05 9,333.05 9,333.05 9,333.05 9,333.05 9,333.05 23,161.90 23,264.34 23,332.63 23,332.63 23,332.63 23,332.63

23,161.90 23,264.34 23,332.63 23,332.63 23,332.63 23,332.63

699.98 699.98 699.98 699.98 699.98 699.98 11,432.99 11,432.99 11,432.99 11,432.99 11,432.99 11,432.99

4,899.85 4,899.85 4,899.85 4,899.85 4,899.85 4,899.85 1,736.44 1,736.44 1,736.44 1,736.44 1,736.44 1,736.44 607.75 607.75 607.75 607.75 607.75 607.75 333.33 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 125.00

10,785.25 19,835.34 19,835.34 30,620.59 19,835.34 19,835.34 19,835.34 3,326.56 3,429.00 (7,287.96) 3,497.29 3,497.29 3,497.29

ago sep oct nov dic 23,332.63 23,332.63 23,332.63 23,332.63 23,332.63

13,999.58 13,999.58 13,999.58 13,999.58 13,999.58 16,332.84 16,332.84 16,332.84 16,332.84 16,332.84

6,999.79 6,999.79 6,999.79 6,999.79 6,999.79 4,199.87 4,199.87 4,199.87 4,199.87 4,199.87 2,799.92 2,799.92 2,799.92 2,799.92 2,799.92 9,333.05 9,333.05 9,333.05 9,333.05 9,333.05 23,332.63 23,332.63 23,332.63 23,332.63 23,332.63

23,332.63 23,332.63 23,332.63 23,332.63 23,332.63

699.98 699.98 699.98 699.98 699.98 11,432.99 11,432.99 11,432.99 11,432.99 11,432.99

4,899.85 4,899.85 4,899.85 4,899.85 4,899.85 1,736.44 1,736.44 1,736.44 1,736.44 1,736.44 607.75 607.75 607.75 607.75 607.75 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00

19,835.34 19,835.34 19,835.34 19,835.34 19,835.34 3,497.29 3,497.29 3,497.29 3,497.29 3,497.29

FLUJO OPERATIVO AÑO 5

PRONOSTICO DE VENTASANUAL ene

VENTAS 286,991.35 23,915.95

Ctas x Cobrar credito 60% 172,194.81 14,349.57 Gastos en compras 70% 200,893.95 16,741.16

Ctas x Cobrar 30 dias 50% 85,922.41 6,999.79 Ctas x Cobrar 60 dias 30% 51,448.45 4,199.87 Ctas x Cobrar 90 dias 20% 34,228.97 2,799.92 Ctas x Cobrar contado 40% 114,796.54 9,566.38 Total ingresos x Vtas 286,396.37 23,565.96

FLUJO CAJA OPERATIVO

INGRESOSVentas 286,396.37 23,565.96

EGRESOSGastos de Publicidad 3% 8,609.74 717.48 Compras al Contado 70% 140,625.76 11,718.81

Compras Credito 30% mes sgte 30% 60,145.69 4,899.85 Sueldos 5% 21,879.11 1,823.26 Beneficios Sociales 35% 35% 7,657.69 638.14 Alquiler 4,000.00 333.33 Gastos generales 1,500.00 125.00 Pagos de Impuestos 10,986.97

255,404.97 20,255.88 Total Flujo Operativo 30,991.40 3,310.08

ESTADO DE RESULTADOS - AÑO 5Ventas 286,991.35 (-) Costo de ventas (200,893.95)

Utilidad Bruta 86,097.41 Egresos GASTOS EN PUBLICIDAD 8,609.74 Sueldo y Salarios 21,879.11 Beneficios Sociales 7,657.69 Alquiler 4,000.00 Gastos Generales 1,500.00 Depreciación Activos 14,500.00

Total Egresos 58,146.54

InteresesUtilidad antes de impuestos 27,950.86 Impuesto 40% 11,180.35 Utilidad Liquida del Ejercicio 16,770.52

feb mar abr may jun jul 23,915.95 23,915.95 23,915.95 23,915.95 23,915.95 23,915.95

14,349.57 14,349.57 14,349.57 14,349.57 14,349.57 14,349.57 16,741.16 16,741.16 16,741.16 16,741.16 16,741.16 16,741.16

7,174.78 7,174.78 7,174.78 7,174.78 7,174.78 7,174.78 4,199.87 4,304.87 4,304.87 4,304.87 4,304.87 4,304.87 2,799.92 2,799.92 2,869.91 2,869.91 2,869.91 2,869.91 9,566.38 9,566.38 9,566.38 9,566.38 9,566.38 9,566.38 23,740.95 23,845.95 23,915.95 23,915.95 23,915.95 23,915.95

23,740.95 23,845.95 23,915.95 23,915.95 23,915.95 23,915.95

717.48 717.48 717.48 717.48 717.48 717.48 11,718.81 11,718.81 11,718.81 11,718.81 11,718.81 11,718.81

5,022.35 5,022.35 5,022.35 5,022.35 5,022.35 5,022.35 1,823.26 1,823.26 1,823.26 1,823.26 1,823.26 1,823.26 638.14 638.14 638.14 638.14 638.14 638.14 333.33 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 125.00

10,986.97 20,378.37 20,378.37 31,365.35 20,378.37 20,378.37 20,378.37 3,362.58 3,467.57 (7,449.40) 3,537.57 3,537.57 3,537.57

ago sep oct nov dic 23,915.95 23,915.95 23,915.95 23,915.95 23,915.95

14,349.57 14,349.57 14,349.57 14,349.57 14,349.57 16,741.16 16,741.16 16,741.16 16,741.16 16,741.16

7,174.78 7,174.78 7,174.78 7,174.78 7,174.78 4,304.87 4,304.87 4,304.87 4,304.87 4,304.87 2,869.91 2,869.91 2,869.91 2,869.91 2,869.91 9,566.38 9,566.38 9,566.38 9,566.38 9,566.38 23,915.95 23,915.95 23,915.95 23,915.95 23,915.95

23,915.95 23,915.95 23,915.95 23,915.95 23,915.95

717.48 717.48 717.48 717.48 717.48 11,718.81 11,718.81 11,718.81 11,718.81 11,718.81

5,022.35 5,022.35 5,022.35 5,022.35 5,022.35 1,823.26 1,823.26 1,823.26 1,823.26 1,823.26 638.14 638.14 638.14 638.14 638.14 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00

20,378.37 20,378.37 20,378.37 20,378.37 20,378.37 3,537.57 3,537.57 3,537.57 3,537.57 3,537.57

FLUJO OPERATIVO AÑO 6

PRONOSTICO DE VENTASANUAL ene

VENTAS 294,166.14 24,513.84

Ctas x Cobrar credito 60% 176,499.68 14,708.31 Gastos en compras 70% 205,916.29 17,159.69

Ctas x Cobrar 30 dias 50% 88,070.47 7,174.78 Ctas x Cobrar 60 dias 30% 52,734.66 4,304.87 Ctas x Cobrar 90 dias 20% 35,084.69 2,869.91 Ctas x Cobrar contado 40% 117,666.45 9,805.54 Total ingresos x Vtas 293,556.28 24,155.11

FLUJO CAJA OPERATIVO

INGRESOSVentas 293,556.28 24,155.11

EGRESOSGastos de Publicidad 3% 8,824.98 735.42 Compras al Contado 70% 144,141.41 12,011.78

Compras Credito 30% mes sgte 30% 61,649.33 5,022.35 Sueldos 5% 22,973.07 1,914.42 Beneficios Sociales 35% 35% 8,040.57 670.05 Alquiler 4,000.00 333.33 Gastos generales 1,500.00 125.00 Pagos de Impuestos 11,180.35

262,309.71 20,812.35 Total Flujo Operativo 31,246.57 3,342.75

ESTADO DE RESULTADOS - AÑO 6Ventas 294,166.14 (-) Costo de ventas (205,916.29)

Utilidad Bruta 88,249.84 Egresos GASTOS EN PUBLICIDAD 8,824.98 Sueldo y Salarios 22,973.07 Beneficios Sociales 8,040.57 Alquiler 4,000.00 Gastos Generales 1,500.00 Depreciación Activos 14,500.00

Total Egresos 59,838.63

InteresesUtilidad antes de impuestos 28,411.21 Impuesto 40% 11,364.49 Utilidad Liquida del Ejercicio 17,046.73

feb mar abr may jun jul 24,513.84 24,513.84 24,513.84 24,513.84 24,513.84 24,513.84

14,708.31 14,708.31 14,708.31 14,708.31 14,708.31 14,708.31 17,159.69 17,159.69 17,159.69 17,159.69 17,159.69 17,159.69

7,354.15 7,354.15 7,354.15 7,354.15 7,354.15 7,354.15 4,304.87 4,412.49 4,412.49 4,412.49 4,412.49 4,412.49 2,869.91 2,869.91 2,941.66 2,941.66 2,941.66 2,941.66 9,805.54 9,805.54 9,805.54 9,805.54 9,805.54 9,805.54 24,334.48 24,442.10 24,513.84 24,513.84 24,513.84 24,513.84

24,334.48 24,442.10 24,513.84 24,513.84 24,513.84 24,513.84

735.42 735.42 735.42 735.42 735.42 735.42 12,011.78 12,011.78 12,011.78 12,011.78 12,011.78 12,011.78

5,147.91 5,147.91 5,147.91 5,147.91 5,147.91 5,147.91 1,914.42 1,914.42 1,914.42 1,914.42 1,914.42 1,914.42 670.05 670.05 670.05 670.05 670.05 670.05 333.33 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00 125.00

11,180.35 20,937.91 20,937.91 32,118.26 20,937.91 20,937.91 20,937.91 3,396.56 3,504.19 (7,604.41) 3,575.93 3,575.93 3,575.93

ago sep oct nov dic 24,513.84 24,513.84 24,513.84 24,513.84 24,513.84

14,708.31 14,708.31 14,708.31 14,708.31 14,708.31 17,159.69 17,159.69 17,159.69 17,159.69 17,159.69

7,354.15 7,354.15 7,354.15 7,354.15 7,354.15 4,412.49 4,412.49 4,412.49 4,412.49 4,412.49 2,941.66 2,941.66 2,941.66 2,941.66 2,941.66 9,805.54 9,805.54 9,805.54 9,805.54 9,805.54 24,513.84 24,513.84 24,513.84 24,513.84 24,513.84

24,513.84 24,513.84 24,513.84 24,513.84 24,513.84

735.42 735.42 735.42 735.42 735.42 12,011.78 12,011.78 12,011.78 12,011.78 12,011.78

5,147.91 5,147.91 5,147.91 5,147.91 5,147.91 1,914.42 1,914.42 1,914.42 1,914.42 1,914.42 670.05 670.05 670.05 670.05 670.05 333.33 333.33 333.33 333.33 333.33 125.00 125.00 125.00 125.00 125.00

20,937.91 20,937.91 20,937.91 20,937.91 20,937.91 3,575.93 3,575.93 3,575.93 3,575.93 3,575.93