By Shoemake Cochran at July 10 2020 21:00:16
The financial statements section should show the way things are now if you have an existing business, as well as a forward look at your checking account, or projected income statement. The only way a start_up company can provide an income statement and balance sheet is by projecting these figures based upon well defined assumptions. Both start_ups and existing businesses should include a statement of owner's equity.
Explain the fundamentals of the proposed business: What will your product be? Who will your customers be? Who are the owners? What do you think the future holds for your business and your industry?