Beginning Work in process ₱ 1,768,274.

50
Raw materials Beginning ₱ 1,945,892.24
add: Purchase ₱ 8,452,100.00
Freight in ₱ 98,750.00
Less: Purchase discounts ₱ 356,780.00
Raw materials ready to used ₱ 10,139,962.24
Less: Raw Materials Ending ₱ 1,784,520.17
Raw Materials Use ₱ 8,355,442.07
Direct Labor ₱ 4,819,670.27
Overhead ₱ 2,845,890.54
Less: Ending Work In process ₱ 1,267,389.09
Cost of Goods manufactured ₱ 16,521,888.29
Add: Finished Goods (BEG) ₱ 2,895,067.32
Goods available for sale ₱ 19,416,955.61
Less: Finished Goods (END) ₱ 2,589,011.40
Cost of Good Sold ₱ 16,827,944.21

BALANCE SHEET 2017

Current Asset
Cash and Equivalents ₱ 5,699,264.29
Accounts Receivable ₱ 3,850,000.00
Inventory ₱ 2,589,011.40
Prepaid Expense ₱ 750,000.00
Time Deposit ₱ 4,000,000.00
Employee Receivable ₱ 167,800.00
Total Current Asset ₱ 17,056,075.69

Non-current Asset
Factory Building ₱ 4,000,000.00
Manufacturing Equipment ₱ 600,000.00
Office Equipment ₱ 300,000.00
Long Term Funds ₱ 5,000,000.00
Invesment in Associates ₱ 2,500,000.00
Total NC-Assets ₱ 12,400,000.00
TOTAL ASSETS ₱ 29,456,075.69

Current Liabilities
Accounts Payable ₱ 1,420,608.93
Accrued Expense ₱ 795,210.17
Total Current Liabilities ₱ 2,215,819.10

Non-current Liabilities
Bank loan ₱ 10,000,000.00

TOTAL LIABILITIES ₱ 12,215,819.10

Equity
Common Shares ₱ 9,625,000.00
Preference Shares ₱ 5,312,500.00
Retained Earnings ₱ 2,630,232.80
₱ 17,567,732.80 ₱ 29,783,551.90
Less:

Less:

Less:
-₱ 327,476.21
Sales
Less: Sales returns PHP 2,098,556.49
Net Sales
Cost of Good Sold PHP 16,827,944.21
Gross Profit
Expenses
Advertising Expense PHP 500,000.00
Freight Out PHP 289,650.14
Salesman Commision PHP 1,425,039.26
Depreciation Expense -Office equipment PHP 100,000.00
Depreciation Expense - Building PHP 100,000.00
Office Salaries PHP 3,895,167.40
Interest Expense PHP 1,000,000.00
Utilities PHP 506,952.34 PHP 7,816,809.14
Net Profit Before Tax
Income Tax Expense PHP 1,127,242.63
Net Profit Before Tax

BUO DI KO ALAM
PHP 500,000.00 PHP 500,000.00
PHP 289,650.14 PHP 289,650.14
PHP 1,425,039.26 PHP 1,425,039.26
PHP 200,000.00
PHP 100,000.00 PHP 100,000.00
PHP 3,895,167.40 PHP 3,895,167.40
PHP 1,000,000.00 PHP 1,000,000.00
PHP 500,000.00 PHP 100,000.00
PHP 1,267,380.85 PHP 1,267,380.85
PHP 9,177,237.65 PHP 8,577,237.65

PHP 2,397,046.92 PHP 2,997,046.92

PHP 30,500,785.27 PHP 24,940,599.12
PHP 1,894,650.42
PHP 28,402,228.78 PHP 23,045,948.70
PHP 12,973,484.97
PHP 11,574,284.57 PHP 10,072,463.73

PHP 500,000.00
PHP 351,290.16
PHP 1,247,029.96
PHP 100,000.00
PHP 100,000.00
PHP 3,085,617.11
PHP 958,333.33
PHP 538,351.66
PHP 3,757,475.43 PHP 6,880,622.22
PHP 3,191,841.51
PHP 2,630,232.80 PHP 957,552.45
PHP 2,234,289.06
PURCHASES $ 12,500,350.00
PR&A $ 578,940.00

$ 11,921,410.00
FREIGHT $ 112,500.00
$ 12,033,910.00

$ 1,768,274.50
$ 2,895,067.32
$ 1,945,892.24
TOTAL $ 6,609,234.06

CGS $ 5,424,675.94
$ 4,572,987.32
$ 2,975,821.71
$ 12,973,484.97
 24940599.12
1894650.42

$ 23,045,948.70

$ 10,072,463.73