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This section covers the three major financial documents: the income statement, statement of cash flows, and balance sheet. It is recommended to seek professional assistance, particularly from the Small Business Development Center, which offers free guidance on producing financial projections. Along with these statements, you should include the assumptions behind your numbers in your business plan. Additionally, it is important to detail the sources and uses of funds, outlining where the $40,000 needed will come from and how it will be utilized. It is noted that $10,000 of this amount will come from owner’s equity.
