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Deferred Taxes at Obadiah Vineyard(9-107-035)

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Deferred Taxes at Obadiah Vineyard(9-107-035)
Incomestmt-tax basis | | | | | | | | | | | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | | | | | Projected Sales | 25.375 | 32.25 | 45 | 65 | 80 | 95 | | | | | Sale price | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | | | | | Revenue | 81200 | 103200 | 144000 | 208000 | 256000 | 304000 | | | | | Labor Expense | 32250 | 32250 | 95000 | 95000 | 95000 | 95000 | | | | | Gross margin | 48950 | 70950 | 49000 | 113000 | 161000 | 209000 | | | | | Less | | | | | | | | | | | Depriciation | 30,326 | 24,261 | 67,107 | 101,363 | 82,468 | 68,733 | | | | | Interest | 37,174 | 35,913 | 34,575 | 33,153 | 31,642 | 30,037 | | | | | SG&A | 2,100 | 2,100 | 5,000 | 5,000 | 5,000 | 5,000 | | | | | Taxable Income | (20,650) | 8,676 | (57,682) | (26,516) | 41,890 | 105,230 | | | | | Less: Tax @40% payable before NOL | | 3470.352 | | | 16756.04 | 42091.928 | | | | | Tax impact on NOL carryforward | | (3470.35) | | | (16756.04) | (42091.93) | | | | | Net Tax basis Income | (20,650) | 8,676 | (57,682) | (26,516) | 41,890 | 105,230 | | | | | | | | | | | | | | | | Balancesheet | | | | | | | | | | | | | | | | | | | | | | Cash | | | | | | | | | | | AR | | | | | | | | | | | TCA | | | | | | | | | | | PP&E | will increse by new asset from 2005 | | | | | | | Accumulated depreciation | | | acc to dep. Schedule,changes will occur from 2007,shown in Dep schedule | | | | | | | | | | | | | Secured LTD | | Loan from bakn from 2005 will be added | | | | | | Common stock | | | | | | | | | | | Accumulated deficit | (169,123) | (160,448) | (218,130) | (244,646) | (202,756) | (97,526) | | | | | TL&E | | | | | | | | | | |

Depriciation schedule | New(14000*25.1+2*62750) | Old | | | | | | | | | | | Total Asset cost | 476900 | 210600 | | |
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