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HERMES CORPORATION STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2012

ASSETS
2012 Current Assets Cash and Cash Equivalents (Note 1) Trade and other Receivables (Note 2) Inventories (Note 3) Prepayments (Note 4) Other Current Assets (Note 5) Total Current Assets Noncurrent Assets Investment in Subsidiary Property, Plant and Equipment, net (Note 6) Land Deferred Tax Asset Total Noncurrent Assets Total Assets 2,426,400 2,594,500 1,260,000 183,667 17,900 6,482,467

500,000 1,958,500 2,500,000 79,500 5,038,000 11,520,467

LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Trade and other Payables (Note 7) Accrued Expenses Unearned Income Total Current Liabilities Noncurrent Liabilities Finance Lease Liability Loans Payable Total Noncurrent Liabilities Total Liabilities Shareholders' Equity Share Capital Retained Earnings (Note 8) Total Liabilities and Shareholders' Equity

1,959,600 135,000 300,000 2,394,600

550,000 3,000,000 3,550,000 5,944,600

1,500,000 4,075,867 11,520,467

HERMES CORPORATION STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED DECEMBER 31, 2012

Sales Less: Sales return and allowances Net Sales Less: Cost of Sales Inventory, beg Purchases Purchase return and allowances Freight In Inventory, end Gross Operating Income Add: Other income Interest Income Unearned Income earned Dividend Income Gross Income Less: Operating Expenses Office rental Utilities Transportation Bank charge Freight out Salaries and wages Contributions Meals and allowances Repairs and maintenance Taxes and licenses Professional fees Advertising expense Miscellaneous expense Depreciation Doubtful Accounts Prepaid Rent Expense Insurance Expense Supplies Expense Loss on inventory Net Income Before Taxes Taxes Net Income After Taxes

net Decrease in office supplies Decrease in prepaid insurance Decrease in Prepaid Rent Increase in accounts payable .OE Accumulated Depreciation . net Increase in advance for liquidation Increase in employee advances Decrease in creditable withholding tax Decrease in Input VAT Increase in inventories.OE Allowance for Doubtful Accounts Doubtful Accounts Rental Expense Retained Earnings Prepaid Rental Unearned Income Income Office Supplies Expense Office Supplies Insurance Expense Prepaid Insurance Income Tax Expense Income Tax Payable HERMES CORPORAT STATEMENT OF CASH FOR THE YEAR ENDED DECEM Cash flows from operating activities Net income Increase in accounts receivable.MV Depreciation Expense .MV Accumulated Depreciation .ADJUSTING ENTRIES: Depreciation Expense .

January 1 Cash and cash equivalents .Increase in accrued expense Increase in unearned income Increase in Government contribution Increase in withholding tax payable Depreciation Doubtful accounts Loss on inventory writedown Net cash provided by operating activities Cash flows from investing activities Purchase of motor vehicle Office Equipment Net cash provided by investing activities Cash flows from financing activities Increase in Share Capital Net cash provided by financing activities Increase in cash and cash equivalents Unknown difference Cash and cash equivalents . 2012 Equity.December 31 HERMES CORPORATION STATEMENT IN CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31. ending . beginning Issuance of Share Capital Net Income for the period Net Adjustments for the period Equity.

388.002.000 3.800 6.500.000 246.000.700 2.772.800 2.200 1.000.800 78.911.000 1.000 26.045.000 1.800 1.860.000 .411.000 3.2011 1.200 6.000 1.000 4.388.772.383.800 3.500 540.000.310.000 1.

259.000 4.590.000 180.000.000 267.00 5.000 50.260.580.300 172.000 540.800 25.600.000 9.000) 16.383.675.000 2.000 100.837.000 8.000 449.273 585.000 156.500 8.000 592.194.000 145.976.000 780.500 300.000 4.000 137.533 851.000 95.000) 9.517.200 .000 85.000 5.000 120.000 - 2.2012 16.500 160.000 340.905.000 4.000 3.500 88.000 1.000) 93.000 (56.000 180.000 (20.260 1.685.500 8.000 4.354.000) 220.000 180.000 54.967 2.500 196.000 8.000 23.200 48.000 15.500 26.800 1.000 67.000 583.000 (84.986.000 770.300.000 33.000 - 8.667 4.000 180.000 2011 9.000 7.000 (1.509.250.000 1.541.000 44.516.

000 300.000 7.000 4.273 (1.000 851.667 26.7.000 4.000 53.500 3.000) 5.000 .000 77.500 26.000 5.260 851.500 77.986.000 5.180.000) 1.667 53.200 (720.333 300.000) (54.600 7.260 HERMES CORPORATION STATEMENT OF CASH FLOW THE YEAR ENDED DECEMBER 31.000) (63.475.500 3.334 1.000 4. 2012 1.

867 .000) (80.434.807 (1.300 172.000 1.986.383.807 (230.273 706.000 2.426.200 500.053.500 145.575.000 2.57.000) (310.000 13.600 583.000) 500.244.000 2.000 48.000 500.045.394 5.000 300.407) 1.400 2.

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500) 300.500 17.000 26.000 (300.000) Balance 1.000 Note 4: Office Supplies Prepaid Rental Prepaid Insurance Security Deposit Balance Note 5: Creditable Withholding Tax Input VAT Balance Note 6: Motor Vehicle Accumulated Depreciation Computer Equipment Accumulated Depreciation Furnitures and Fixtures Accumulated Depreciation Office Equipments Accumulated Depreciation Leasehold Improvement Accumulated Depreciation Balance 15.450.426.400 100.000) 680.000) 239.400 Note 1: Cash on Hand Cash in Bank Revovling Fund Balance 2011 2.958.000 2.000 (156.000 (150.000) 540.000 Allowance for Inventory Writedown (145.000 (87.2012 Note 1: Cash on Hand Cash in Bank Revovling Fund Balance Note 2: Accounts Receivable Allowance for Doubtful Accounts Advances for liquidation Employee Advances Balance 15.050.311.000 2.000 (122.500 Note 2: Accounts Receivable Allowance for Doubtful Accounts Advances for liquidation Employee Advances Balance Note 3: Inventories Allowance for Inventory Writedown Balance Note 4: Office Supplies Prepaid Rental Prepaid Insurance Security Deposit Balance Note 5: Creditable Withholding Tax Input VAT Balance Note 6: Motor Vehicle Accumulated Depreciation Computer Equipment Accumulated Depreciation Furnitures and Fixtures Accumulated Depreciation Office Equipments Accumulated Depreciation Leasehold Improvement Accumulated Depreciation Balance Note 3: Inventories 1.594.667 46.667 5.000) 1.000 183.000 2.000 213.500) 54.000 (157.405.500 .000 96.260.900 1.400 12.

200 1.260 1. beg Net Income for the period Net Adjustments Retained Earnings.000 851.600 84.075.383.867 .986.959.600 Note 7: Accounts Payable Withholding Taxes Payable Government Contribution Income Tax Payable Balance Note 8: Retained Earnings. end 1. end 1.850.273 706.394 4.Note 7: Accounts Payable Withholding Taxes Payable Government Contribution Income Tax Payable Balance Note 8: Retained Earnings. beg Net Income for the period Net Adjustments Retained Earnings.000 25.

000) 150.000 96.000) 1.200) 680.000 (50.000 (130.500 540.000 980.000 19.000 246.000 7.000 20.800 .000 50.045.000 50.000 80.000 (48.700 26.700 300.000 1.000) 159.000 900.002.000 540.000 1.000) 540.500 (48.000 (39.411.15.

383.000 12.000 36.670.383.000 592.800 1.200 .200 1.800 1.310.