3 Income Statement
3 Income Statement
3 Income Statement
INCOME STATEMENT
For the Years Ended December 31
2015
2016
2017
(Sched.1)Sales
975,000.00
1,074,937.50
1,185,118.59
753,616.00
799,882.28
849,239.32
Gross Profit
Less: Operating Expenses
221,384.00
275,055.22
335,879.27
156,000.00
160,680.00
165,500.40
14,131.20
6,000.00
1,000.00
14,131.20
5,100.00
1,030.00
14,131.20
5,202.00
1,060.90
1,000.00
1,020.00
1,040.40
178,131.20
43,252.80
-
181,961.20
93,094.02
4,464.10
186,934.90
148,944.37
14,288.87
43,252.80
88,629.92
134,655.50
(Sched.9)Transportation Expense
Total Operating Expense
Income Before Tax
(Sched.10)Income Tax
Net Income
Financial Data
18
Exhibit 4
BALANCE SHEET
As of Years Ended December 31
ASSETS
Current:
Cash
Total current assets
Non-current:
Property, Plant and equipment
Total Assets
2015
436,602.80
436,602.80
2016
477,582.72
477,582.72
2017
514,588.21
514,588.21
6,650.00
4,300.00
1,950.00
443,252.80
481,882.72
516,538.21
2016
2017
2015
Owner's Equity
443,252.80
481,882.72
516,538.21
443,252.80
481,882.72
516,538.21
19
Exhibit 2
STATEMENT OF CASH FLOW
For the Years Ended December 31
45,602.80
20
137,005.50
50,000.00
100,000.00
9,000.00
400,000.00
400,000.00
90,979.92
436,602.80
436,602.80
50,000.00
100,000.00
40,979.92
37,005.50
436,602.80
477,582.72
477,582.72
514,588.21
Exhibit 3
Investments
Project Cost
Net Income
Exhibit 1
Total
Withdrawals
Capital, December 31
21
443,252.80
481,882.72
43,252.80
88,629.92
134,655.50
443,252.80
531,882.72
616,538.21
50,000.00
100,000.00
481,882.72
516,538.21
400,000.00
443,252.80
Periwinkle Pancake
Schedules
2014
2015
2016
Schedule 1; Sales
Sales in Units
Selling Price
Projected Sales
65,000.00
68,250.00
71,662.50
15.00
15.75
16.54
975,000.00
1,074,937.50
1,185,118.59
65,000.00
9
68,250.00
9.18
71,662.50
9.3636
585,000.00
626,535.00
671,018.99
3,024.00
3,114.72
3,208.16
12.00
36,288.00
12.00
37,376.64
12.00
38,497.94
2.00
2.00
2.00
72,576.00
74,753.28
76,995.88
22
SSS Contribution
Monthly Employer's Share/Employee
Number of Months per Year
Total Annual Employer's Share/Employee
Number of Service Crews
Total Employer's Share
Monthly Employee's Share/Employee
Number of Months per Year
Total Annual Employee's Share/Employee
Number of Service Crews
Total Employee's Share
PhilHealth Contribution
Monthly Employer's Share/Employee
Number of Months per Year
Total Annual Employer's Share/Employee
Number of Service Crews
Total Employer's Share
Monthly Employee's Share/Employee
Number of Months per Year
Total Annual Employee's Share/Employee
Number of Service Crews
Total Employee's Share
23
222.00
222.00
222.00
12.00
2,664.00
12.00
2,664.00
12.00
2,664.00
2.00
2.00
2.00
5,328.00
5,328.00
5,328.00
100.00
100.00
100.00
12.00
1,200.00
12.00
1,200.00
12.00
1,200.00
2.00
2.00
2.00
2,400.00
2,400.00
2,400.00
87.50
87.50
87.50
12.00
1,050.00
12.00
1,050.00
12.00
1,050.00
2.00
2.00
2.00
2,100.00
2,100.00
2,100.00
87.50
87.50
87.50
12.00
1,050.00
12.00
1,050.00
12.00
1,050.00
2.00
2.00
2.00
2,100.00
2,100.00
2,100.00
72,576.00
5,328.00
74,753.28
5,328.00
76,995.88
5,328.00
2,100.00
2,100.00
2,100.00
80,004.00
82,181.28
84,423.88
Utilities
Monthly Electricity Bills
1,050.00
1,081.50
1,113.95
12.00
1,062.00
12.00
1,093.50
12.00
1,125.95
12.00
12.00
12.00
Total Utilities
12,744.00
13,122.00
13,511.34
Building Rentals
Monthly Rentals
6,000.00
6,180.00
6,365.40
12.00
12.00
12.00
72,000.00
74,160.00
76,384.80
800.00
225.00
125.00
123.00
245.00
816.00
225.00
125.00
123.00
245.00
832.32
225.00
125.00
123.00
245.00
1,518.00
1,534.00
1,550.32
24
Depreciation Expense
Gas stove
Water Dispenser
Blender
Total
Cost of Goods Sold
Raw Materials
Direct Labor
FOH
Total Cost of Goods Sold
750.00
600.00
1,000.00
2,350.00
750.00
600.00
1,000.00
2,350.00
750.00
600.00
1,000.00
2,350.00
585,000.00
80,004.00
88,612.00
753,616.00
626,535.00
82,181.28
91,166.00
799,882.28
671,018.99
84,423.88
93,796.46
849,239.32
Costs
3,000.00
3,000.00
3,000.00
9,000.00
9,000.00
2,350.00
2,350.00
6,650.00
25
Depreciable
Amount
3,000.00
3,000.00
3,000.00
9,000.00
2,350.00
2,350.00
4,700.00
4,300.00
Estimated
Useful Life
4
5
3
9,000.00
4,700.00
2,350.00
7,050.00
1,950.00
Annual
Depreciation
750.00
600.00
1,000.00
2,350.00
26
6,500.00
12
78,000.00
2
156,000.00
6,695.00
12
80,340.00
2
160,680.00
6,895.85
12
82,750.20
2
165,500.40
488.80
488.80
488.80
12.00
5,865.60
12.00
5,865.60
12.00
5,865.60
2.00
2.00
2.00
11,731.20
11,731.20
11,731.20
236.20
236.20
236.20
12.00
2,834.40
12.00
2,834.40
12.00
2,834.40
2.00
2.00
2.00
5,668.80
5,668.80
5,668.80
100.00
100.00
100.00
12.00
1,200.00
12.00
1,200.00
12.00
1,200.00
2.00
2.00
2.00
2,400.00
2,400.00
2,400.00
Monthly
Employee's
Share/Employee
Total Annual Employee's Share/Employee
Total Annual Employee's Share/Employee
100.00
100.00
100.00
12.00
1,200.00
12.00
1,200.00
12.00
1,200.00
2.00
2.00
2.00
2,400.00
2,400.00
2,400.00
11,731.20
2,400.00
11,731.20
2,400.00
11,731.20
2,400.00
14,131.20
14,131.20
14,131.20
Radio advertisement
Flyres
5,000.00
1,000.00
5,100.00
-
5,202.00
-
Total
6,000.00
5,100.00
5,202.00
1,000.00
1,030.00
1,060.90
27
1,000.00
1,020.00
1,040.40
43,252.80
93,094.02
148,944.37
50,000.00
50,000.00
50,000.00
Taxable Income
(6,747.20)
43,094.02
98,944.37
In Excess of
30,000.00
70,000.00
Taxable Income
13,094.02
28,944.37
Tax Rate
28
15%
20%
Tax due
1,964.10
5,788.87
Tax due
2,500.00
8,500.00
Income Tax
4,464.10
14,288.87
975,000.00
-
1,074,937.50
975,000.00
1,185,118.59
1,074,937.50
975,000.00
-
99,937.50
975,000.00
10.25
%
110,181.09
1,074,937.50
221,384.00
975,000.00
22.71
%
275,055.22
1,074,937.50
25.59
%
335,879.27
1,185,118.59
28.34
%
178,131.20
1,131,000.00
15.75
%
181,961.20
1,235,617.50
14.73
%
186,934.90
1,350,618.99
13.84
%
178,131.20
221,626.40
80.37
%
181,961.20
462,567.76
39.34
%
186,934.90
499,210.47
37.45
%
178,131.20
181,961.20
186,934.90
N/A
10.25%
Return on Assets
Net Profit
Average Total Assets
221,626.40
80.37
%
462,567.76
39.34
%
499,210.47
37.45%
1,000.00
1,131,000.00
0.09%
1,020.00
1,235,617.50
0.08%
1,040.40
1,350,618.99
0.08%
1,131,000.00
221,626.40
5.10
1,235,617.50
462,567.76
2.67
1,350,618.99
499,210.47
2.71
1,131,000.00
3,325.00
340.15
196,092.40
5,475.00
35.82
201,066.10
3,125.00
64.34
30
31