Operating Expenses Years 1-3
	Prepared By:	Company Name:
	Sam Miller	Aviation Flight Academy
	Line Item	43344	Growth Rate 1 to 2	43345	Growth Rate 2 to 3	43346
	Advertising	6,000,000	3.0%	6,180,000	3.0%	6,365,400
	Car and Truck Expenses	267,500	3.0%	275,525	3.0%	283,791
	Commissions and Fees	180,000	5.0%	189,000	5.0%	198,450
	Contract Labor (Not included in payroll)	30,000	3.0%	30,900	3.0%	31,827
	Insurance (other than health)	66,000	3.0%	67,980	3.0%	70,019
	Legal and Professional Services	96,000	3.0%	98,880	3.0%	101,846
	Licenses	18,000	5.0%	18,900	5.0%	19,845
	Office Expense	60,000	3.0%	61,800	3.0%	63,654
	Rent or Lease -- Vehicles, Machinery, Equipment	42,000	3.0%	43,260	3.0%	44,558
	Rent or Lease -- Other Business Property	240,000	3.0%	247,200	3.0%	254,616
	Repairs and Maintenance	60,000	5.0%	63,000	5.0%	66,150
	Supplies	60,000	3.0%	61,800	3.0%	63,654
	Travel, Meals and Entertainment	144,000	3.0%	148,320	3.0%	152,770
	Utilities	600,000	3.0%	618,000	3.0%	636,540
	Miscellaneous	-	3.0%	-	3.0%	-
	Total Expenses	$              7,863,500		$              8,104,565		$              8,353,120
	Other Expenses
	Depreciation	770,026		770,026		770,026
	Interest
	Commercial Loan	-		-		-
	Commercial Mortgage	-		-		-
	Credit Card Debt	-		-		-
	Vehicle Loans	-		-		-
	Other Bank Debt	-		-		-
	Line of Credit	(91,527)		(329,497)		(569,132)
	Bad Debt Expense	4,791,658
	Total Other Expenses	$              5,470,156		$                 440,528		$                 200,894
	Total Operating Expenses	$          13,333,656		$            8,545,093		$            8,554,014