YEAR 2013

WORKING TRIAL BALANCE

TRANSACTIONS
Debit
Credit
Cash
196,048.24
Raw Materials Purchases
257,892.84
Prepaid Rent
45,000.00
Machineries and Equipment
55,436.00
Furniture and Fixtures
23,935.00
Kitchen Tools and Utensils
4,315.00
Office Tools
409.00
Accumulated Depreciation-M & E
Accumulated Depreciation-F & F
Accrued Expenses
Utilities Payable
Withholding Tax-Salaries
Income Tax Payable
VAT Payable
Withholding Tax Payable-Expanded Suppliers
Garalde, Elena May G.
Santiago, Juan Daniel A.
Sapit, Jessica Hope L.
Withdrawals
175,000.00
Sales
Raw Materials
256,239.68
Direct Labor
43,664.40
Factory Overhead
Salaries and Wages
60,940.62
Employees Benefits
22,272.12
Rent
144,000.00
Utilities
23,400.00
Repairs & Maintenance
3,000.00
Spoilage
17,596.80
Depreciation
7,769.60

INCOME STATEMENT
Debit
Credit

BALANCE SHEET
Debit
Credit
196,048.24
1,653.16
45,000.00
55,436.00
23,935.00
4,315.00
409.00

256,239.68

10,752.20
4,787.00
3,900.00
1,223.61

10,752.20
4,787.00
3,900.00
1,223.61

8,205.39
750.00
140,000.00
140,000.00
140,000.00

8,205.39
750.00
140,000.00
140,000.00
140,000.00
175,000.00

1,032,345.60

1,032,345.60
256,239.68
43,664.40
60,940.62
22,272.12
144,000.00
23,400.00
3,000.00
17,596.80
7,769.60

Miscellaneous
Selling & Administrative
Professional fee
Salaries & Wages
Employees Benefit
Rent
Office Supplies
Cleaning Materials
Utilities
Miscellaneous
Depreciation
Amortization
Advertising Expense
Organizational Cost
Permits and Licenses
Total

14,000.00

14,000.00

42,000.00
203,231.82
42,506.92
36,000.00
6,872.00
3,721.00
23,400.00
6,000.00
7,769.60
5,266.53
5,619.00
5,219.60
4,961.00
1,743,486.76

42,000.00
203,231.82
42,506.92
36,000.00
6,872.00
3,721.00
23,400.00
6,000.00
7,769.60
5,266.53

(62,694.51)

1,032,345.60

5,619.00
5,219.60
4,961.00
517,596.00

1,032,345.60

517,596.00

5,266.53
1,743,470.01

16.75
15,799.60
5,266.53

969,651.09
62,694.51
1,032,345.60

16.75

5,266.53
454,884.73
62,711.26
517,596.00

YEAR 2014
TRANSACTIONS
Debit
Credit
8,872.80
272,887.56

3,900.00
1,223.61
1,880.84
8,205.39
750.00

INCOME STATEMENT
Debit
Credit

YEAR 2015
BALANCE SHEET
Debit
Credit
8,872.80
96.12

272,791.44

10,752.20
4,787.00
4,095.00
1,223.61

3,900.00
1,223.61
1,880.84
8,205.39
750.00

9,185.52
750.00

50,000.00

50,000.00
1,058,154.24

TRANSACTIONS
Debit
Credit
76,459.48
279,710.27

10,752.20
4,787.00
4,095.00
1,223.61
9,185.52
750.00

4,095.00
1,223.61
1,166.57
9,185.52
750.00

INCOME STATEMENT
Debit

279,666.54

10,752.20
4,787.00
4,299.75
1,223.61
10,954.26
750.00

132,000.00

1,058,154.24

1,220,186.88

272,791.44
43,664.40

272,791.44
43,664.40

279,666.54
43,664.40

279,666.54
43,664.40

60,940.62
22,272.12
144,000.00
24,570.00
3,300.00
18,036.72
7,769.60

60,940.62
22,272.12
144,000.00
24,570.00
3,300.00
18,036.72
7,769.60

60,940.62
22,272.12
144,000.00
25,798.50
3,630.00
20,798.64
7,769.60

60,940.62
22,272.12
144,000.00
25,798.50
3,630.00
20,798.64
7,769.60

14,700.00

14,700.00

15,435.00

15,435.00

42,000.00
203,231.82
42,506.92
36,000.00
7,141.38
3,866.86
24,570.00
6,300.00
7,769.60
5,266.53
5,108.18

42,000.00
203,231.82
42,506.92
36,000.00
7,141.38
3,866.86
24,570.00
6,300.00
7,769.60
5,266.53
5,108.18
23,462.40
1,019,268.60
38,885.64
1,058,154.24

42,000.00
203,231.82
42,506.92
36,000.00
7,421.32
4,018.44
25,798.50
6,615.00
7,769.60
5,266.53
4,643.80

42,000.00
203,231.82
42,506.92
36,000.00
7,421.32
4,018.44
25,798.50
6,615.00
7,769.60
5,266.53
4,643.80

5,266.53
23,462.40
1,366,988.79

1,367,005.54

5,266.53
1,058,154.24

74,928.76

1,058,154.24

74,928.76

(16.75)

36,059.87
38,868.89
74,928.76

5,266.53
24,048.96
1,537,886.77

1,537,886.77

16.75

24,048.96
1,033,296.32
186,890.56
1,220,186.88

YEAR 2015
INCOME STATEMENT
Credit

YEAR 2016
BALANCE SHEET
Debit
Credit
76,459.48
43.73

4,095.00
1,223.61
1,166.57
9,185.52
750.00

132,000.00

TRANSACTIONS
Debit
Credit
44,946.14
287,179.78

10,752.20
4,787.00
4,299.75
1,223.61
10,954.26
750.00

4,299.75
1,223.61
5,606.72
10,954.26
750.00

INCOME STATEMENT
Debit
Credit

44,946.14
47.89

287,131.90

10,752.20
4,787.00
4,514.74
1,394.34

4,299.75
1,223.61
5,606.72
10,954.26
750.00

11,221.76
750.00

155,200.00

1,220,186.88

BALANCE SHEET
Debit
Credit

155,200.00
1,250,694.72

1,250,694.72

287,131.90
45,957.60

287,131.90
45,957.60

63,589.08
23,168.16
144,000.00
27,088.43
3,993.00
21,318.66
7,769.60

63,589.08
23,168.16
144,000.00
27,088.43
3,993.00
21,318.66
7,769.60

10,752.20
4,787.00
4,514.74
1,394.34
11,221.76
750.00

16,206.75

16,206.75

42,000.00
212,401.32
44,816.76
36,000.00
7,712.24
4,175.97
27,088.43
6,945.75
7,769.60

42,000.00
212,401.32
44,816.76
36,000.00
7,712.24
4,175.97
27,088.43
6,945.75
7,769.60
4,221.64
27,731.52
1,061,086.39
189,608.33
1,250,694.72

4,221.64
5,266.53
1,220,186.88

224,923.91

1,220,186.88

224,923.91

38,033.35
186,890.56
224,923.91

27,731.52
1,571,246.65

1,571,246.65

1,250,694.72

223,028.37

1,250,694.72

223,028.37

(0.00)

(0.00)

33,420.04
189,608.33
223,028.37

YEAR 2017
TRANSACTIONS
Debit
Credit
164,889.06
294,521.17

4,514.74
1,394.34
5,688.25
11,221.76
750.00

INCOME STATEMENT
Debit
Credit

BALANCE SHEET
Debit
Credit
164,889.06
47.06

294,474.11

10,752.20
4,787.00
4,740.47
1,394.34

4,514.74
1,394.34
5,688.25
11,221.76
750.00

13,117.55
750.00

195,000.00

195,000.00
1,424,394.40

1,424,394.40

294,474.11
45,957.60

294,474.11
45,957.60

63,589.08
23,168.16
144,000.00
28,442.85
4,392.30
24,279.45
7,769.60

63,589.08
23,168.16
144,000.00
28,442.85
4,392.30
24,279.45
7,769.60

10,752.20
4,787.00
4,740.47
1,394.34
13,117.55
750.00

17,017.09

17,017.09

42,000.00
212,401.32
44,816.76
36,000.00
8,014.56
4,339.67
28,442.85
7,293.04
7,769.60

42,000.00
212,401.32
44,816.76
36,000.00
8,014.56
4,339.67
28,442.85
7,293.04
7,769.60
3,837.85
28,424.88
1,076,430.75
347,963.65
1,424,394.40

3,837.85
28,424.88
1,754,410.07

1,754,410.07

1,424,394.40

383,505.21

1,424,394.40
-

383,505.21

35,541.56
347,963.65
383,505.21

STATEMENT OF CASHFLOWS
YEAR 2013
Cash Balance, Beginning
Cash Inflows:
Cash Input
Sales
Total Cash Inflows
Cash Outflows:
Advertising Expense
Organizational Cost
Permits and Licenses
Capital Expenditures
Prepaid Rent
Machineries and Equipment
Furniture and Fixtures
Kitchen Tools and Utensils
Office Tools
Raw Materials Purchases
Direct Labor
Factory Overhead
Salaries and Wages
Employees Benefits
Rent
Utilities
Repairs & Maintenance
Spoilage
Miscellaneous
Selling & Administrative
Professional fee
Salaries & Wages
Employees Benefit
Rent
Office Supplies

YEAR 2014

YEAR 2015

420,000.00
1,173,120.00

1,202,448.00

1,386,576.00

5,619.00
5,219.60
4,961.00

5,108.18

4,643.80

23,462.40

24,048.96

45,000.00
55,436.00
23,935.00
4,315.00
409.00
257,892.84
43,664.40

272,887.56
43,664.40

279,710.27
43,664.40

60,940.62
22,272.12
144,000.00
23,400.00
3,000.00
17,596.80
14,000.00

60,940.62
22,272.12
144,000.00
24,570.00
3,300.00
18,036.72
14,700.00

60,940.62
22,272.12
144,000.00
25,798.50
3,630.00
20,798.64
15,435.00

42,000.00
203,231.82
42,506.92
36,000.00
6,872.00

42,000.00
203,231.82
42,506.92
36,000.00
7,141.38

42,000.00
203,231.82
42,506.92
36,000.00
7,421.32

Cleaning Materials
Utilities
Miscellaneous
Withholding Tax Payable-Expanded Suppliers
750.00
Witholding Tax Payable-Salaries
1,223.61
Accrued Expenses
Utilities Payable
3,900.00
Payment of Income tax
Payment of VAT
8,222.14
Withdrawals by partner
Total Cash outflows
1,607,215.75
NET CASH IN(OUTFLOWS)

Cash balance, ending

utilities
wtax-salaries

196,048.24

3,721.00
23,400.00
6,000.00
750.00
1,223.61
4,095.00
140,774.40
175,000.00
1,411,167.52

9,185.52
1,217,702.13

3,866.86
24,570.00
6,300.00
750.00
1,223.61
3,900.00
1,880.84
152,515.90
50,000.00
1,208,829.33

750.00
1,223.61
4,299.75
10,954.26
1,403,803.62

8,872.80

76,459.48

195.00

204.75

4,018.44
25,798.50
6,615.00
750.00
1,223.61
4,095.00
1,166.57
175,574.64
132,000.00
1,327,344.14

YEAR 2016

YEAR 2017

2013

2014
-

1,421,244.00

1,618,630.00

2015

196,048.24

204,921.04

420,000.00
1,173,120.00
1,593,120.00

1,202,448.00
1,202,448.00

1,386,576.00
1,386,576.00

5,108.18
23,462.40

4,643.80
24,048.96

4,221.64

3,837.85

27,731.52

28,424.88

5,619.00
5,219.60
4,961.00

287,179.78
45,957.60

294,521.17
45,957.60

45,000.00
55,436.00
23,935.00
4,315.00
409.00
257,892.84
43,664.40

272,887.56
43,664.40

279,710.27
43,664.40

63,589.08
23,168.16
144,000.00
27,088.43
3,993.00
21,318.66
16,206.75

63,589.08
23,168.16
144,000.00
28,442.85
4,392.30
24,279.45
17,017.09

60,940.62
22,272.12
144,000.00
23,400.00
3,000.00
17,596.80
14,000.00

60,940.62
22,272.12
144,000.00
24,570.00
3,300.00
18,036.72
14,700.00

60,940.62
22,272.12
144,000.00
25,798.50
3,630.00
20,798.64
15,435.00

42,000.00
212,401.32
44,816.76
36,000.00
7,712.24

42,000.00
212,401.32
44,816.76
36,000.00
8,014.56

42,000.00
202,008.21
42,506.92
35,250.00
6,872.00

42,000.00
203,231.82
42,506.92
36,000.00
7,141.38

42,000.00
203,231.82
42,506.92
36,000.00
7,421.32

750.00
1,394.34
4,514.74
11,221.76
1,439,124.84

44,946.14

214.99
170.73
-

4,175.97
27,088.43
6,945.75
750.00
1,223.61
4,299.75
5,606.72
181,503.54
155,200.00
1,394,178.70

3,721.00
19,500.00
6,000.00

3,866.86
24,375.00
6,300.00

4,018.44
25,593.75
6,615.00

132,552.26
175,000.00
1,397,071.76
196,048.24

1,880.84
143,330.38
50,000.00
1,193,575.20
8,872.80

1,166.57
164,620.38
132,000.00
1,310,116.52
76,459.48

164,889.06

196,048.24

204,921.04

281,380.51

225.74

0.00
196,048.24

204,921.04

0.00
281,380.51

750.00
1,394.34
4,740.47
13,117.55
1,638,632.36

4,339.67
28,442.85
7,293.04
750.00
1,394.34
4,514.74
5,688.25
205,457.36
195,000.00
1,473,743.30

(0.00)

(0.00)

(0.00)

2016

2017

281,380.51

326,326.66

1,421,244.00
1,421,244.00

1,618,630.00
1,618,630.00

4,221.64
27,731.52

3,837.85
28,424.88

287,179.78
45,957.60

294,521.17
45,957.60

63,589.08
23,168.16
144,000.00
27,088.43
3,993.00
21,318.66
16,206.75

63,589.08
23,168.16
144,000.00
28,442.85
4,392.30
24,279.45
17,017.09

42,000.00
212,230.59
44,816.76
36,000.00
7,712.24

42,000.00
212,401.32
44,816.76
36,000.00
8,014.56

4,175.97
26,873.44
6,945.75

4,339.67
28,217.11
7,293.04

5,606.72
170,281.78
155,200.00
1,376,297.86
44,946.14

5,688.25
192,339.81
195,000.00
1,453,740.94
164,889.06

326,326.66

491,215.72

326,326.66
(0.00)

(0.00)
491,215.72
(0.00)

INCOME STATEMENT
Sales(inclusive of VAT)
Output VAT
Net Sales
Less: Cost of Sales(exclusive of VAT)
GROSS PROFIT
Selling & Administrative Expenses
Professional fee
Salaries & Wages
Employees Benefit
Rent
Office Supplies
Cleaning Materials
Utilities
Miscellaneous
Depreciation
Amortization
Advertising Expense
Permits and Licenses
Total
Net Income before tax
Provision for Percentage Tax
Net Income after tax

2013
1,173,120.00
140,774.40
1,032,345.60
592,883.22
439,462.38

2014
1,202,448.00
144,293.76
1,058,154.24
612,044.90
446,109.34

2015
1,386,576.00
166,389.12
1,220,186.88
623,975.42
596,211.46

42,000.00
203,231.82
42,506.92
36,000.00
6,872.00
3,721.00
23,400.00
6,000.00
7,769.60
5,266.53

376,767.87
62,694.51
1,880.84

42,000.00
203,231.82
42,506.92
36,000.00
7,141.38
3,866.86
24,570.00
6,300.00
7,769.60
5,266.53
5,108.18
23,462.40
407,223.70
38,885.64
1,166.57

42,000.00
203,231.82
42,506.92
36,000.00
7,421.32
4,018.44
25,798.50
6,615.00
7,769.60
5,266.53
4,643.80
24,048.96
409,320.90
186,890.56
5,606.72

60,813.68

37,719.07

181,283.84

2016
1,421,244.00
170,549.28
1,250,694.72
640,223.17
610,471.55

2017
1,618,630.00
194,235.60
1,424,394.40
653,090.23
771,304.17

42,000.00
212,401.32
44,816.76
36,000.00
7,712.24
4,175.97
27,088.43
6,945.75
7,769.60

42,000.00
212,401.32
44,816.76
36,000.00
8,014.56
4,339.67
28,442.85
7,293.04
7,769.60

4,221.64
27,731.52
420,863.22
189,608.33
5,688.25

3,837.85
28,424.88
423,340.52
347,963.65
10,438.91

183,920.08

337,524.74

2013

CHANGES IN PARTNER'S EQUITY

2014
2015

2016

2017

Garalde, Elena May G.

Beginning Balance
Income
Withdrawals
Ending Balance

140,000.00
20,271.23
65,000.00
95,271.23

95,271.23
12,573.02
10,000.00
97,844.25

97,844.25
60,427.95
32,000.00
126,272.20

126,272.20
61,306.69
35,200.00
152,378.89

152,378.89
112,508.25
45,000.00
219,887.13

Santiago, Juan Daniel A.

Beginning Balance
Income
Withdrawals
Ending Balance

140,000.00
20,271.23
60,000.00
100,271.23

100,271.23
12,573.02
25,000.00
87,844.25

87,844.25
60,427.95
80,000.00
68,272.20

68,272.20
61,306.69
96,000.00
33,578.89

33,578.89
112,508.25
110,000.00
36,087.13

Sapit, Jessica Hope L.

Beginning Balance
Income
Withdrawals
Ending Balance

140,000.00
20,271.23
50,000.00
110,271.23

110,271.23
12,573.02
15,000.00
107,844.25

107,844.25
60,427.95
20,000.00
148,272.20

148,272.20
61,306.69
24,000.00
185,578.89

185,578.89
112,508.25
40,000.00
258,087.13

175,000.00

50,000.00

132,000.00

155,200.00

195,000.00

2013

Balance Sheet
2014

2015

2016

204,921.04
1,749.28
45,000.00
251,670.32

281,380.51
1,793.01
45,000.00
328,173.52

326,326.66
1,840.90
45,000.00
373,167.55

ASSET
Current Asset
Cash
196,048.24
Inventory
1,653.16
Prepaid Rent
45,000.00
Total Current Asset
242,701.40
Fixed Asset
Machineries and Equipment
55,436.00
Furnitures and Fixtures
23,935.00
Kitchen Tools and Utensils
4,315.00
Office Tools
409.00
Total Fixed Asset
84,095.00
Less:Accumulated Depreciation 15,539.20
Net Book Value
68,555.80
Other Assets
Pre-Operating Cost
10,533.07
TOTAL ASSETS
321,790.26

55,436.00
23,935.00
4,315.00
409.00
84,095.00
31,078.40
53,016.60

55,436.00
23,935.00
4,315.00
409.00
84,095.00
46,617.60
37,477.40

55,436.00
23,935.00
4,315.00
409.00
84,095.00
62,156.80
21,938.20

5,266.53
309,953.45

365,650.92

395,105.75

LIABILITIES AND CAPITAL

Liabilities
Accrued Expense
Utilities Payable
3,900.00
Income Tax Payable
1,880.84
VAT Payable
8,205.39
Withholding Tax-Salaries
1,223.61
Withholding Tax Payable-Expanded Supplier
750.00
Total Liabilities
15,959.84

4,095.00
1,166.57
9,185.52
1,223.61
750.00
16,420.70

4,299.75
5,606.72
10,954.26
1,223.61
750.00
22,834.34

4,514.74
5,688.25
11,221.76
1,394.34
750.00
23,569.09

140,000.00
140,000.00
140,000.00
60,813.68
175,000.00
305,813.68

95,271.23
100,271.23
110,271.23
37,719.07
50,000.00
293,532.75

97,844.25
87,844.25
107,844.25
181,283.84
132,000.00
342,816.59

126,272.20
68,272.20
148,272.20
183,920.08
155,200.00
371,536.67

TOTAL LIABILITIES AND CAPITAL321,773.51

309,953.45

365,650.92

395,105.75

0.00

0.00

Partner's Equity
Garalde, Elena May G.
Santiago, Juan Daniel A.
Sapit, Jessica Hope L.
Add:Net Income
Less:Withdrawal
Total Capital

16.75

2017

491,215.72
1,887.96
45,000.00
538,103.67
55,436.00
23,935.00
4,315.00
409.00
84,095.00
77,696.00
6,399.00

544,502.67

4,740.47
10,438.91
13,117.55
1,394.34
750.00
30,441.27

152,378.89
33,578.89
185,578.89
337,524.74
195,000.00
514,061.40
544,502.67
-

Year
2013
2014
2015
2016
2017

Year
2013
2014
2015
2016
2017

Asset Turnover
Net Sales
Average Total Assets
1,173,120.00
370,895.13
1,202,448.00
315,871.86
1,386,576.00
337,802.19
1,421,244.00
380,378.34
1,618,630.00
469,804.21

3.16
3.81
4.10
3.74
3.45

Working Capital Turnover

Cost of Sales
Operating Expense Average Working Capital
592,883.22
6,240.00
612,044.90
6,240.00
623,975.42
6,240.00
640,223.17
6,552.00
653,090.23
6,552.00

Year
2013
2014
2015
2016
2017

Current Ratio
Current Assets
Current Liabilities
242,701.40
15,959.84
251,670.32
16,420.70
328,173.52
22,834.34
373,167.55
23,569.09
538,103.67
30,441.27

Year
2013
2014
2015
2016
2017

Quick Ratio
Cash
Current Liability
196,048.24
15,959.84
204,921.04
16,420.70
281,380.51
22,834.34
326,326.66
23,569.09
491,215.72
30,441.27

12.28
12.48
12.32
13.85
16.14

Year
2013
2014
2015
2016
2017

Gross Profit Ratio

Gross Profit
Net Sales
439,462.38
1,173,120.00
446,109.34
1,202,448.00
596,211.46
1,386,576.00
610,471.55
1,421,244.00
771,304.17
1,618,630.00

37.46%
37.10%
43.00%
42.95%
47.65%

Rate of Return on Sales

15.21
15.33
14.37
15.83
17.68

#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

Year
2013
2014
2015
2016
2017

Net Income
60,813.68
37,719.07
181,283.84
183,920.08
337,524.74

Net Sales
1,173,120.00
1,202,448.00
1,386,576.00
1,421,244.00
1,618,630.00

Operating Ratio
Operating Expense
6,240.00
6,240.00
6,240.00
6,552.00
6,552.00

5.18%
3.14%
13.07%
12.94%
20.85%

Year
2013
2014
2015
2016
2017

Cost of Sales
592,883.22
612,044.90
623,975.42
640,223.17
653,090.23

Year
2013
2014
2015
2016
2017

Rate of Return on Assets

Net Income
Average Total Asset
60,813.68
370,895.13
37,719.07
315,871.86
181,283.84
337,802.19
183,920.08
380,378.34
337,524.74
469,804.21

16.40%
11.94%
53.67%
48.35%
71.84%

Year
2013
2014
2015
2016
2017

Rate of Return on Owner's Equity

Net Income Average Total Owner's Equity
60,813.68
362,906.84
37,719.07
299,673.21
181,283.84
337,802.19
183,920.08
380,378.34
337,524.74
469,804.21

16.76%
12.59%
53.67%
48.35%
71.84%

Year
2013
2014
2015
2016
2017

Net Sales
1,173,120.00
1,202,448.00
1,386,576.00
1,421,244.00
1,618,630.00

Rate of Return on Working Capital

Net Income
Average Total Working Capital
60,813.68
#DIV/0!
37,719.07
#DIV/0!
181,283.84
#DIV/0!
183,920.08
#DIV/0!
337,524.74
#DIV/0!

51.07%
51.42%
45.45%
45.51%
40.75%