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STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED DECEMBER 31

Schedule 2017 2018 2019 2020 2021


Sales 4 PHP 570,680.21 PHP 573,922.26 PHP 600,308.87 PHP 627,949.49 PHP 656,905.76
Less: Sales Returns 5 11,413.60 11,478.45 12,006.18 12,558.99 13,138.12
Sales Discount 1,342.24 1,349.87 1,411.93 1,476.94 1,545.04
Net Sales PHP 557,924.37 PHP 561,093.95 PHP 586,890.77 PHP 613,913.56 PHP 642,222.60
Less: Cost of Goods Sold 4.1 957,552.78 971,291.95 985,535.19 1,000,113.97 1,015,038.35
Spoilage 4.1A 77,562.29 79,043.06 80,543.36 81,800.62 83,339.77
Gross Profit PHP (477,190.71) PHP (489,241.06) PHP (479,187.79) PHP (468,001.03) PHP (456,155.53)
Less: Operating Expenses
General and Administrative Expenses 6 PHP 102,674.34 PHP 91,860.12 PHP 93,198.75 PHP 94,589.39 PHP 96,034.07
Selling Expenses 7 189,733.60 183,209.70 184,223.31 185,275.87 186,368.89
Income before realized gains PHP (769,598.65) PHP (764,310.89) PHP (756,609.84) PHP (747,866.28) PHP (738,558.49)
Add: Gain from change in FV 8 775,622.90 776,447.33 790,749.31 805,367.14 820,308.86
Income before interest and tax PHP 6,024.26 PHP 12,136.44 PHP 34,139.47 PHP 57,500.86 PHP 81,750.37
Less: Interest Expense 9 15,136.65 11,481.58 9,194.52 4,574.13 2,287.06
Less: Income tax 10 - - - - -
Income after tax PHP (9,112.39) PHP 654.86 PHP 24,944.95 PHP 52,926.73 PHP 79,463.31
F i n a n c i a l S t a t e m e n t s | 117

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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31
Schedule
2017 2018 2019 2020 2021
Owners' Equity PHP 81,680.83 PHP 72,640.94 PHP 74,161.89 PHP 87,385.85 PHP 114,789.99
Add (Less): Net Income (Loss) SPF (9,039.89) 1,520.95 26,447.91 54,808.29 81,924.03
Add: Partners' Investment PHP -
TOTAL PHP 72,640.94 PHP 74,161.89 PHP 100,609.81 PHP 142,194.14 PHP 196,714.02
Less: Withdrawals 11 13,223.96 27,404.14 40,962.01
Owner's Capital, end PHP 72,640.94 PHP 74,161.89 PHP 87,385.85 PHP 114,789.99 PHP 155,752.01
F i n a n c i a l S t a t e m e n t s | 118

A PROPOSED OYSTER MUSHROOM CULTIVATION AND DISTRIBUTION


STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31
2017 2018 2019 2020 2021
PHP 2,016.00 PHP 2,018.00 PHP 2,019.00 PHP 2,020.00 PHP 2,021.00
Cash flow from operating activities
Cash inflows:
Cash sales PHP 456,544.17 PHP 459,137.81 PHP 480,247.10 PHP 502,359.59 PHP 525,524.61
A/R Collections
Current year 88,140.42 88,641.14 92,716.50 96,985.54 101,457.78
Previous year - 20,160.44 20,274.97 21,207.14 22,183.60
Refund of Prepaid Rent - - - - 15,000.00
Accrued Expanded Withholding Tax 550.00 550.00 550.00 550.00 550.00
Total Cash Inflows PHP 545,234.59 PHP 568,489.39 PHP 593,788.57 PHP 621,102.27 PHP 664,715.98
Cash outflows:
Sales return refund PHP 9,130.88 PHP 9,182.76 PHP 9,604.94 PHP 10,047.19 PHP 10,510.49
Direct Materials 6,032.62 5,897.22 5,865.52 5,835.06 5,805.80
Direct labor 147,889.00 147,889.00 147,889.00 147,889.00 147,889.00
Freight 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00
Indirect materials 13,153.42 11,064.39 11,041.35 11,019.22 11,081.66
Production tools (outright) 4,178.25 4,178.25 4,178.25 4,178.25 4,178.25
Repairs 2,000.00 2,100.00 2,205.00 2,315.25 2,431.01
rent exps 60,000.00 60,000.00 60,000.00 60,000.00 60,000.00
Utilities exps 73,489.00 75,251.50 77,103.30 79,047.78 81,088.44
Retainer's fee 36,000.00 36,000.00 36,000.00 36,000.00 36,000.00
Salaries (selling expenses) 149,733.60 149,733.60 149,733.60 149,733.60 149,733.60
Feasibility Cost 6,450.00 - - - -
Permits and Licenses 15,795.00 10,616.69 11,018.01 11,434.49 11,866.71
Office Supplies 1,544.50 1,390.05 1,390.05 1,390.05 1,390.05
Cleaning supplies 2,119.00 2,013.05 2,013.05 2,013.05 2,013.05
Prepaid Rent 15,000.00 - - -
Advertising Expense 8,000.00 518.90 538.51 558.87 580.00
Payment of Accruals - 6,893.60 7,625.90 8,363.20 9,105.69
PHP (553,515.28) PHP (525,729.01) PHP (529,206.48) PHP (532,825.01) PHP (536,673.75)
Net Cash Flow from Operating Activities PHP (8,280.69) PHP 42,760.38 PHP 64,582.09 PHP 88,277.26 PHP 128,042.23
Cash flow from investing activities
Cash outflows:
Acquisition of Leasehold Improvement PHP 28,084.00 PHP - PHP - PHP - PHP -
Acquisition of Furniture & Fixtures PHP 8,413.00 PHP - PHP - PHP - PHP -
Acquisition of Delivery Vehicle PHP 23,333.33 PHP 23,333.33 PHP 23,333.33 PHP - PHP -
Acquisition of PPE PHP 22,800.00 PHP - PHP - PHP - PHP -
Acquisition of Production Tools (capital)
PHP 10,560.00 PHP - PHP - PHP 10,560.00 PHP -
Net Cash Flow from Investing Activities PHP (93,190.33) PHP (23,333.33) PHP (23,333.33) PHP (10,560.00) PHP -
Cash flow from financing activities
Cash inflows:
Acquisition of Bank Loan PHP 190,588.55 PHP - PHP - PHP - PHP -
Owner's Equity PHP 81,680.83 PHP - PHP - PHP - PHP -
PHP 272,269.38 PHP - PHP - PHP - PHP -
Cash outflows:
Payment of principal loan PHP 38,117.71 PHP 38,117.71 PHP 38,117.71 PHP 38,117.71 PHP 38,117.71
Payment of interest expense PHP 15,136.65 PHP 11,481.58 PHP 9,194.52 PHP 4,574.13 PHP 2,287.06
Withdrawals by the owner PHP - PHP - PHP 13,223.96 PHP 27,404.14 PHP 40,962.01
PHP (53,254.36) PHP (49,599.29) PHP (60,536.19) PHP (70,095.98) PHP (81,366.79)
Net cash flow from financing activities PHP 219,015.03 PHP (49,599.29) PHP (60,536.19) PHP (70,095.98) PHP (81,366.79)
Net Cash Flows PHP 117,544.00 PHP (30,172.24) PHP (19,287.43) PHP 7,621.28 PHP 46,675.44
Add: Cash, beg PHP - PHP 117,544.00 PHP 87,371.76 PHP 68,084.33 PHP 75,705.61
Cash, end PHP 117,544.00 PHP 87,371.76 PHP 68,084.33 PHP 75,705.61 PHP 122,381.05
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STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED DECEMBER 31

Schedule 2017 2018 2019 2020 2021


Assets
Current
Cash SCF PHP 117,544.00 87,371.76 PHP 68,084.33 PHP 75,705.61 PHP 122,381.05
Accounts Receivable 12 20,160.44 20,274.97 21,207.14 22,183.60 23,206.54
Inventory, end 4.2 13,244.36 13,488.30 13,737.63 13,992.48 14,253.00
Cleaning Supplies 14 105.95 105.95 105.95 105.95 105.95
Office Supplies 15 154.45 154.45 154.45 154.45 154.45
Indirect Materials 5.3A, 5.3B, 5.3C, 5.3D, 5.3E 1,985.25 1,980.62 1,976.18 1,971.91 1,984.59
Prepaid rent 15,000.00 15,000.00 15,000.00 15,000.00 -
Total Current Asset PHP 168,194.45 PHP 138,376.06 PHP 120,265.67 PHP 129,113.99 PHP 162,085.58
Non-Current:
Production tools, net 16 PHP 7,040.00 PHP 3,520.00 PHP - PHP 7,040.00 PHP 3,520.00
Property and Equipment, net 17 18,240.00 13,680.00 9,120.00 4,560.00 -
Delivery Vehicle, net 18 56,000.00 42,000.00 28,000.00 14,000.00 -
Furniture and Fixtures, net 19 6,730.40 5,047.80 3,365.20 1,682.60 -
Leasehold Improvements, net 20 22,467.20 16,850.40 11,233.60 5,616.80 -
Total Non-Current assets: PHP 110,477.60 PHP 81,098.20 PHP 51,718.80 PHP 32,899.40 PHP 3,520.00
Total Assets PHP 278,672.05 PHP 219,474.26 PHP 171,984.47 PHP 162,013.39 PHP 165,605.58

Liabilities and Owner's Equity


Liabilities
Accrued SSS Contribution 22 PHP 1,419.60 PHP 1,419.60 PHP 1,419.60 PHP 1,419.60 PHP 1,419.60
Accrued PhilHealth Contribution 23 225.00 225.00 225.00 225.00 225.00
Accrued PAG-IBIG Contribution 24 200.00 200.00 200.00 200.00 200.00
Accrued Telephone and Internet 25 999.00 999.00 999.00 999.00 999.00
Accrued Electricity Expenses 26 2,500.00 3,194.50 3,892.57 4,594.35 5,299.98
Accrued Water Expenses 27 1,000.00 1,037.80 1,077.03 1,117.74 1,159.99
Accrued Withholding Tax 28 550.00 550.00 550.00 550.00 550.00
Accrued Income Tax - - - - -
Notes Payable 29 46,666.67 23,333.33 - - -
Loan Payable 30 152,470.84 114,353.13 76,235.42 38,117.71 -
Total Liabilities PHP 206,031.11 PHP 145,312.36 PHP 84,598.62 PHP 47,223.40 PHP 9,853.57
Total Owner's Equity 72,640.94 74,161.89 87,385.85 114,789.99 155,752.01
Total Liabilities and Owner's Equity PHP 278,672.05 PHP 219,474.26 PHP 171,984.47 PHP 162,013.39 PHP 165,605.58
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