Decorative Pottery Business Plan

Fat Cat Creations, owned by Mary Baker, specializes in raku pottery. Mary has over 20 years of experience in this field. She individually creates and signs each hanging raku cat ornament. Fat Cat Creations will sell these ceramic cats in galleries, at arts and craft festivals along the West Coast, and also on its national website.

Ceramic art is a popular attraction at galleries and festivals. The West Coast alone has around 2,000 galleries that carry ceramic art. Each year, there are over 250 major arts and craft festivals, drawing over 30 million shoppers. These events generate millions of dollars in sales for ceramic artists.

Fat Cat Creations will also launch a website for customers to purchase the hanging raku cat ornaments.

Decorative Pottery Business Plan Example

1.1 Mission

Fat Cat Creations offers consumers unique and fun ceramic art. Whether hanging in the living room, kitchen, bathroom, or bedroom, the ceramic cats add color and humor to any space.

1.2 Keys to Success

  • An entertaining and accessible website where customers can have fun choosing from a variety of Fat Cats and their colors.
  • Establishing a strong network of shops and galleries to sell Fat Cats.
  • Maintaining a strong presence in regional arts and craft festivals on the West Coast.

Company Summary

Fat Cat Creations offers customers a series of happy hanging Fat Cat ceramics in assorted colors. Each piece is unique and signed by the owner, Mary Baker. These ceramics are sold in galleries, at festivals throughout the West, and on the Fat Cat Creations website.

2.1 Company Ownership

Mary Baker is the sole owner of Fat Cat Creations.

2.2 Start-up Summary

Fat Cat Creations’ start-up costs include raku firing equipment, transport containers, and website development. Mary Baker will invest $20,000 and her brother will invest $10,000 as a silent partner. Additionally, she will secure a $60,000 SBA loan.

Decorative Pottery Business Plan Example

Start-up Requirements:

– Legal: $1,000

– Stationery etc.: $300

– Brochures: $1,000

– Website: $10,000

– Insurance: $500

– Transport Containers: $5,000

– Ceramic Equipment: $15,000

– Total Start-up Expenses: $32,800

Start-up Assets:

– Cash Required: $30,200

– Start-up Inventory: $0

– Other Current Assets: $12,000

– Long-term Assets: $15,000

– Total Assets: $57,200

Total Requirements: $90,000

Start-up Funding:

– Start-up Expenses to Fund: $32,800

– Start-up Assets to Fund: $57,200

– Total Funding Required: $90,000

Assets:

– Non-cash Assets from Start-up: $27,000

– Cash Requirements from Start-up: $30,200

– Additional Cash Raised: $0

– Cash Balance on Starting Date: $30,200

– Total Assets: $57,200

Liabilities and Capital:

– Liabilities:

– Current Borrowing: $0

– Long-term Liabilities: $60,000

– Accounts Payable (Outstanding Bills): $0

– Other Current Liabilities (interest-free): $0

– Total Liabilities: $60,000

– Capital:

– Planned Investment:

– Mary Baker: $20,000

– Joshua Baker: $10,000

– Additional Investment Requirement: $0

– Total Planned Investment: $30,000

– Loss at Start-up (Start-up Expenses): ($32,800)

– Total Capital: ($2,800)

Total Capital and Liabilities: $57,200

Total Funding: $90,000

Company Locations and Facilities:

Fat Cat Creations will be located in Mary Baker’s home.

Products:

Fat Cat Creations creates hanging raku cat ornaments. Each cat ornament is made individually and personally signed. The cat ornaments can be bought individually or in groups of three or five.

Fat Cat Creations offers five cat faces: Grinning Cat, Kissing Cat, Laughing Cat, Smiling Cat, and Sleeping Cat.

The cats also come in a variety of glaze colors.

Market Analysis Summary:

Ceramic art is a popular attraction in art and craft galleries and festivals. There are approximately 2,000 galleries on the West Coast that carry ceramic art. Each year, over 250 major arts and craft festivals take place on the West Coast. It is estimated that over 30 million shoppers visit these festivals annually. These galleries and festivals represent millions of dollars in sales for ceramic artists.

Most importantly, festivals and galleries serve as platforms to introduce customers to the artist’s website, where pieces can be purchased directly. A recent survey reported that 30% of festival shoppers have purchased art online. This represents a potential customer base of nine million West Coast shoppers.

The key to sales in popular ceramic art is to offer customers something distinctive and affordable. Hanging raku cat ornaments satisfy both of these critical selling points.

Market Segmentation:

Fat Cat Creations will focus on three sales strategies: galleries, arts and craft festivals, and the internet.

Market Analysis:

| Potential Customers | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | CAGR |

|—————————-|———|———|———|———|———|——–|

| Galleries | 2,000 | 2,120 | 2,247 | 2,382 | 2,525 | 6.00% |

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| Arts and Craft Festivals | 250 | 263 | 276 | 290 | 305 | 5.10% |

| Internet | 9,000,000 | 9,630,000 | 10,304,100 | 11,025,387 | 11,797,164 | 7.00% |

| Total | 9,002,250 | 9,632,383 | 10,306,623 | 11,028,059 | 11,799,994 | 7.00% |

Strategy and Implementation Summary:

Fat Cat Creations has a three-step strategy for developing its customer base.

1. Participating in popular arts and craft festivals on the West Coast to introduce the hanging raku cat ornaments and demonstrate the product’s sales potential.

2. Marketing the hanging raku cat ornaments to West Coast galleries.

3. Marketing the website to potential customers.

Competitive Edge:

– Colorful, distinctive, and unique ceramic art pieces.

– Inexpensive hanging raku cat ornaments.

– No comparable ceramic art pieces on the market.

Sales Strategy:

The focus will be on arts and craft festivals for the first three months of business. During that time, Fat Cat Creations will also establish its website and market to galleries near the festival sites. Gallery orders are expected to begin in the fourth month, along with internet orders.

Sales Forecast:

The following is the sales forecast for three years.

Decorative Pottery Business Plan Example

Decorative Pottery Business Plan Example

Sales Forecast

Sales Forecast
Year 1 Year 2 Year 3
Arts and Craft Festivals $177,000 $200,000 $220,000
Galleries $110,000 $170,000 $200,000
Internet $52,000 $90,000 $120,000
Total Sales $339,000 $460,000 $540,000
Direct Cost of Sales Year 1 Year 2 Year 3
Arts and Craft Festivals $52,000 $70,000 $82,000
Galleries $22,900 $38,000 $47,000
Internet $11,540 $20,000 $26,000
Subtotal Direct Cost of Sales $86,440 $128,000 $155,000

Management Summary

Mary Baker will manage the staff of Fat Cat Creations. Mary has over twenty years of experience in ceramic art. She has also been a popular arts teacher at the local community college. Her ability to manage people and maintain a disciplined but creative environment is one of her strongest assets as an artist and teacher. These skills will be invaluable as she assembles Fat Cat Creations’ team of artists.

6.1 Personnel Plan

Fat Cat Creations will have a staff of five:

  • Manager.
  • Bookkeeper/website administrator.
  • Ceramic artists (3).
Personnel Plan
Year 1 Year 2 Year 3
Manager $36,000 $40,000 $44,000
Bookkeeper/Website Administrator $36,000 $40,000 $44,000
Ceramic Artists (3) $108,000 $124,000 $138,000
Total People 5 5 5
Total Payroll $180,000 $204,000 $226,000

Financial Plan

Here is the financial plan for Fat Cat Creations.

Decorative Pottery Business Plan Example

7.1 Break-even Analysis

The table and chart below display our break-even analysis.

Decorative Pottery Business Plan Example

Break-even Analysis:

Monthly Revenue Break-even: $25,675.

Assumptions:

Average Percent Variable Cost: 25%.

Estimated Monthly Fixed Cost: $19,128.

Projected Profit and Loss:

The table and charts below depict the projected profit and loss for three years.

Decorative Pottery Business Plan Example

Decorative Pottery Business Plan Example

Decorative Pottery Business Plan Example

Decorative Pottery Business Plan Example

Pro Forma Profit and Loss

Year 1 Year 2 Year 3

Sales $339,000 $460,000 $540,000

Direct Cost of Sales $86,440 $128,000 $155,000

Other Production Expenses $0 $0 $0

Total Cost of Sales $86,440 $128,000 $155,000

Gross Margin $252,560 $332,000 $385,000

Gross Margin % 74.50% 72.17% 71.30%

Expenses

Payroll $180,000 $204,000 $226,000

Sales and Marketing and Other Expenses $18,000 $30,000 $55,000

Depreciation $2,136 $2,136 $2,136

Leased Equipment $0 $0 $0

Utilities $2,400 $2,400 $2,400

Insurance $0 $0 $0

Rent $0 $0 $0

Payroll Taxes $27,000 $30,600 $33,900

Other $0 $0 $0

Total Operating Expenses $229,536 $269,136 $319,436

Profit Before Interest and Taxes $23,024 $62,864 $65,564

EBITDA $25,160 $65,000 $67,700

Interest Expense $5,784 $5,402 $5,004

Taxes Incurred $5,172 $17,238 $18,168

Net Profit $12,068 $40,223 $42,392

Net Profit/Sales 3.56% 8.74% 7.85%

7.3 Projected Cash Flow

The following table and chart show the projected cash flow for three years.

Decorative Pottery Business Plan Example

Pro Forma Cash Flow:

Year 1 Year 2 Year 3

Cash Received

Cash from Operations

Cash Sales $339,000 $460,000 $540,000

Subtotal Cash from Operations $339,000 $460,000 $540,000

Additional Cash Received

Sales Tax, VAT, HST/GST Received $0 $0 $0

New Current Borrowing $0 $0 $0

New Other Liabilities (interest-free) $0 $0 $0

New Long-term Liabilities $0 $0 $0

Sales of Other Current Assets $0 $0 $0

Sales of Long-term Assets $0 $0 $0

New Investment Received $0 $0 $0

Subtotal Cash Received $339,000 $460,000 $540,000

Expenditures

Expenditures from Operations

Cash Spending $180,000 $204,000 $226,000

Bill Payments $147,452 $203,702 $267,209

Subtotal Spent on Operations $327,452 $407,702 $493,209

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0

Principal Repayment of Current Borrowing $0 $0 $0

Other Liabilities Principal Repayment $0 $0 $0

Long-term Liabilities Principal Repayment $3,984 $3,984 $3,984

Purchase Other Current Assets $0 $0 $0

Purchase Long-term Assets $0 $0 $0

Dividends $0 $0 $0

Subtotal Cash Spent $331,436 $411,686 $497,193

Net Cash Flow $7,564 $48,314 $42,807

Cash Balance $37,764 $86,078 $128,885

Projected Balance Sheet:

Year 1 Year 2 Year 3

Assets

Current Assets

Cash $37,764 $86,078 $128,885

Inventory $7,130 $10,558 $12,785

Other Current Assets $12,000 $12,000 $12,000

Total Current Assets $56,894 $108,636 $153,670

Long-term Assets

Long-term Assets $15,000 $15,000 $15,000

Accumulated Depreciation $2,136 $4,272 $6,408

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Total Long-term Assets $12,864 $10,728 $8,592

Total Assets $69,758 $119,364 $162,262

Liabilities and Capital

Year 1 Year 2 Year 3

Current Liabilities

Accounts Payable $4,474 $17,841 $22,331

Current Borrowing $0 $0 $0

Other Current Liabilities $0 $0 $0

Subtotal Current Liabilities $4,474 $17,841 $22,331

Long-term Liabilities $56,016 $52,032 $48,048

Total Liabilities $60,490 $69,873 $70,379

Paid-in Capital $30,000 $30,000 $30,000

Retained Earnings ($32,800) ($20,732) $19,491

Earnings $12,068 $40,223 $42,392

Total Capital $9,268 $49,491 $91,883

Total Liabilities and Capital $69,758 $119,364 $162,262

Net Worth $9,268 $49,491 $91,883

Business Ratios:

Year 1 Year 2 Year 3 Industry Profile

Sales Growth 0.00% 35.69% 17.39% 8.50%

Percent of Total Assets

Inventory 10.22% 8.85% 7.88% 5.30%

Other Current Assets 17.20% 10.05% 7.40% 44.20%

Total Current Assets 81.56% 91.01% 94.70% 69.00%

Long-term Assets 18.44% 8.99% 5.30% 31.00%

Total Assets 100.00% 100.00% 100.00% 100.00%

Current Liabilities

Accounts Payable 6.41% 14.95% 13.76% 43.70%

Long-term Liabilities 80.30% 43.59% 29.61% 19.40%

Total Liabilities 86.71% 58.54% 43.37% 63.10%

Net Worth 13.29% 41.46% 56.63% 36.90%

Percent of Sales

Sales 100.00% 100.00% 100.00% 100.00%

Gross Margin 74.50% 72.17% 71.30% 0.00%

Selling, General & Administrative Expenses 70.94% 63.43% 63.45% 81.30%

Advertising Expenses 3.54% 4.35% 7.41% 1.00%

Profit Before Interest and Taxes 6.79% 13.67% 12.14% 1.70%

Main Ratios

Year 1 Year 2 Year 3 Industry Profile

Current 12.72 6.09 6.88 1.60

Quick 11.12 5.50 6.31 1.23

Total Debt to Total Assets 86.71% 58.54% 43.37% 63.10%

Pre-tax Return on Net Worth 186.02% 116.11% 65.91% 3.60%

Pre-tax Return on Assets 24.71% 48.14% 37.32% 9.80%

Additional Ratios

Year 1 Year 2 Year 3 Industry Profile

Net Profit Margin 3.56% 8.74% 7.85% n.a

Return on Equity 130.21% 81.27% 46.14% n.a

Activity Ratios

Inventory Turnover 8.78 14.47 13.28 n.a

Accounts Payable Turnover 33.96 12.17 12.17 n.a

Payment Days 27 19 27 n.a

Total Asset Turnover 4.86 3.85 3.33 n.a

Debt Ratios

Debt to Net Worth 6.53 1.41 0.77 n.a

Current Liab. to Liab. 0.07 0.26 0.32 n.a

Liquidity Ratios

Net Working Capital $52,420 $90,795 $131,339 n.a

Interest Coverage 3.98 11.64 13.10 n.a

Additional Ratios

Year 1 Year 2 Year 3 Industry Profile

Assets to Sales 0.21 0.26 0.30 n.a

Current Debt/Total Assets 6% 15% 14% n.a

Acid Test 11.12 5.50 6.31 n.a

Sales/Net Worth 36.58 9.29 5.88 n.a

Dividend Payout 0.00 0.00 0.00 n.a

Appendix

Sales Forecast:

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Sales

Arts and Craft Festivals 0% $8,000 $8,000 $10,000 $21,000 $24,000 $26,000 $17,000 $25,000 $30,000 $0 $0 $8,000

Galleries 0% $0 $0 $0 $5,000 $8,000 $11,000 $14,000 $16,000 $24,000 $10,000 $10,000 $12,000

Internet 0% $0 $0 $0 $2,000 $4,000 $6,000 $5,000 $7,000 $13,000 $4,000 $5,000 $6,000

Total Sales $8,000 $8,000 $10,000 $28,000 $36,000 $43,000 $36,000 $48,000 $67,000 $14,000 $15,000 $26,000

Direct Cost of Sales

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Arts and Craft Festivals $3,000 $3,000 $4,000 $5,000 $6,000 $7,000 $5,000 $7,000 $10,000 $0 $0 $2,000

Galleries $0 $0 $0 $1,000 $1,500 $2,000 $3,000 $4,000 $5,200 $2,000 $2,000 $2,200

Internet $0 $0 $0 $400 $1,000 $1,500 $1,250 $1,800 $2,000 $890 $1,200 $1,500

Subtotal Direct Cost of Sales $3,000 $3,000 $4,000 $6,400 $8,500 $10,500 $9,250 $12,800 $17,200 $2,890 $3,200 $5,700

Personnel Plan:

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Manager 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000

Bookkeeper/Website Administrator 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000

Ceramic Artists (3) 0% $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000

Total People 5 5 5 5 5 5 5 5 5 5 5 5 5

Total Payroll $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000

General Assumptions

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Plan Month 1 2 3 4 5 6 7 8 9 10 11 12

Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

Tax Rate 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%

Other 0 0 0 0 0 0 0 0 0 0 0 0 0

Pro Forma Profit and Loss

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Sales $8,000 $8,000 $10,000 $28,000 $36,000 $43,000 $36,000 $48,000 $67,000 $14,000 $15,000 $26,000

Direct Cost of Sales $3,000 $3,000 $4,000 $6,400 $8,500 $10,500 $9,250 $12,800 $17,200 $2,890 $3,200 $5,700

Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Cost of Sales $3,000 $3,000 $4,000 $6,400 $8,500 $10,500 $9,250 $12,800 $17,200 $2,890 $3,200 $5,700

Gross Margin $5,000 $5,000 $6,000 $21,600 $27,500 $32,500 $26,750 $35,200 $49,800 $11,110 $11,800 $20,300

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Gross Margin % 62.50% 62.50% 60.00% 77.14% 76.39% 75.58% 74.31% 73.33% 74.33% 79.36% 78.67% 78.08%

Expenses

Payroll $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000

Sales and Marketing and Other Expenses $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500

Depreciation $178 $178 $178 $178 $178 $178 $178 $178 $178 $178 $178 $178

Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Utilities $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200

Insurance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Payroll Taxes 15% $2,250 $2,250 $2,250 $2,250 $2,250 $2,250 $2,250 $2,250 $2,250 $2,250 $2,250 $2,250

Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Operating Expenses $19,128 $19,128 $19,128 $19,128 $19,128 $19,128 $19,128 $19,128 $19,128 $19,128 $19,128 $19,128

Profit Before Interest and Taxes ($14,128) ($14,128) ($13,128) $2,472 $8,372 $13,372 $7,622 $16,072 $30,672 ($8,018) ($7,328) $1,172

EBITDA ($13,950) ($13,950) ($12,950) $2,650 $8,550 $13,550 $7,800 $16,250 $30,850 ($7,840) ($7,150) $1,350

Interest Expense $497 $494 $492 $489 $486 $483 $481 $478 $475 $472 $470 $467

Taxes Incurred ($4,388) ($4,387) ($4,086) $595 $2,366 $3,867 $2,142 $4,678 $9,059 ($2,547) ($2,339) $212

Net Profit ($10,238) ($10,236) ($9,534) $1,388 $5,520 $9,022 $4,999 $10,916 $21,138 ($5,943) ($5,458) $494

Net Profit/Sales -127.97% -127.95% -95.34% 4.96% 15.33% 20.98% 13.89% 22.74% 31.55% -42.45% -36.39% 1.90%

Pro Forma Cash Flow

Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Sales $8,000 $8,000 $10,000 $28,000 $36,000 $43,000 $36,000 $48,000 $67,000 $14,000 $15,000 $26,000
Subtotal Cash from Operations $8,000 $8,000 $10,000 $28,000 $36,000 $43,000 $36,000 $48,000 $67,000 $14,000 $15,000 $26,000
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $8,000 $8,000 $10,000 $28,000 $36,000 $43,000 $36,000 $48,000 $67,000 $14,000 $15,000 $26,000
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Expenditures from Operations
Cash Spending $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000
Bill Payments $212 $6,250 $3,138 $5,743 $14,192 $17,725 $20,782 $14,827 $26,135 $34,403 $1,882 $2,165
Subtotal Spent on Operations $15,212 $21,250 $18,138 $20,743 $29,192 $32,725 $35,782 $29,827 $41,135 $49,403 $16,882 $17,165
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $332 $332 $332 $332 $332 $332 $332 $332 $332 $332 $332 $332 $332
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $15,544 $21,582 $18,470 $21,075 $29,524 $33,057 $36,114 $30,159 $41,467 $49,735 $17,214 $17,497

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