THOMAS BONGOTAN GENERAL CONTRACTOR

No. 330 Balsigan St., Baguio City

BALANCE SHEET
As of December 31, 2009

ASSETS

CURRENT ASSETS

Cash on Hand and In Bank 637,650.00

FIXED ASSETS

Equipments 1,050,000.00
Less- Accumulated Depreciation 84,000.00
Total 966,000.00
Land 2,400,000.00
Total Fixed Assets 3,366,000.00

TOTAL ASSETS 4,003,650.00

LIABILITIES AND NETWORTH

CURRENT LIABILITIES
Accounts Payable 120,000.00

NETWORTH
Capital, Jan. 1 3,859,790.00
Net Income for the Year 123,860.00
Drawings for the Year 100,000.00
Net Increase in Capital 23,860.00
Capital, Dec. 31 3,883,650.00

TOTAL LIABILITIES AND NETWORTH 4,003,650.00

 THOMAS BONGOTAN GENERAL CONTRACTOR
No. 330 Balsigan St., Baguio City

INCOME STATEMENT
For the Year Ended December 31, 2009

INCOME

Construction Income (No Projects for the Year) 0.00

Income from Farming 405,350.00
Total Income 405,350.00

OPERATING EXPENSES

Supplies, Pesticides and Insecticides 109,230.00

Transportation 25,970.00
Repairs and Maintenance 8,790.00
Salaries and Wages 96,000.00
Miscellaneous 20,500.00
Depreciation 21,000.00
Total Operating Expenses 281,490.00

NET INCOME FOR THE YEAR 123,860.00