Schedule 1

Historical Demand
Year Population Market Acceptability Rate Frequency of Availing Annually
2010 919169 34% 1
2011 934795 34% 1
2012 950686 34% 1
2013 966848 34% 1
2014 983284 34% 1

Projected Demand
Year Population A Yi-1
2015 919169 5450 334317
2016 934795 5450 339767
2017 950686 5450 345217
2018 966848 5450 350667
2019 983284 5450 356117
Annual Demand
312517
317830
323233
328728
334317

Yc
339767
345217
350667
356117
361567
Schedule 2

Historical Supply
Year Demand Supply Situation Rate Annual Supply
2010 312517 92% 287516
2011 317830 92% 292404
2012 323233 92% 297375
2013 328728 92% 302430
2014 334317 92% 307571

Projected Supply
Year Demand Supply Situation Rate Annual Supply
2015 339767 92% 312585
2016 345217 92% 317599
2017 350667 92% 322613
2018 356117 92% 327627
2019 361567 92% 332641
Schedule 3

Assumptions: Market Share Increase 10.00%

Demand-Supply Gap
Year Demand Gap Target Market Share Percentage
2015 27181 7%
2016 27617 7.70%
2017 28053 8.47%
2018 28489 9.32%
2019 28925 10.25%

Schedule 4
2015 Annual Market Share Base
Domestic 1903 Annual Market Share
International 1903 Annual Market Share
Passport Processing
a. Rush 731 International Tickets
b. Regular 731 International Tickets
Visa 1218 International Tickets

2016 Annual Market Share Base

Domestic 2127 Annual Market Share
International 2127 Annual Market Share
Passport Processing
a. Rush 817 International Tickets
b. Regular 817 International Tickets
Visa 1361 International Tickets

2017 Annual Market Share Base

Domestic 2376 Annual Market Share
International 2376 Annual Market Share
Passport Processing
a. Rush 912 International Tickets
b. Regular 912 International Tickets
Visa 1521 International Tickets

2018 Annual Market Share Base

Domestic 2654 Annual Market Share
International 2654 Annual Market Share
Passport Processing
a. Rush 1019 International Tickets
b. Regular 1019 International Tickets
Visa 1699 International Tickets
 2019 Annual Market Share Base
Domestic 2964 Annual Market Share
International 2964 Annual Market Share
Passport Processing
a. Rush 1138 International Tickets
b. Regular 1138 International Tickets
Visa 1897 International Tickets
Target Annual Market Share
1903
2127
2376
2654
2964

Percentage Number of Clients

36% 685
64% 1218

35% 256
65% 475
15% 183

Percentage Number of Clients

36% 766
64% 1361

35% 286
65% 531
15% 204

Percentage Number of Clients

36% 855
64% 1521

35% 319
65% 593
15% 228

Percentage Number of Clients

36% 956
64% 1699

35% 357
65% 663
15% 255
Percentage Number of Clients
36% 1067
64% 1897

35% 398
65% 740
15% 285
 Commission Income
Schedule 5.1 2015 2016 2017 2018 2019
Commission per Ticket 300 300 300 300 300
Number of Clients 685 766 855 956 1067
Total Income - Domestic 205491 229666 256621 286670 320163

Commission per Ticket 800 800 800 800 800

Number of Clients 1218 1361 1521 1699 1897
Total Income - International 974179 1088785 1216572 1359027 1517809

Service Income
Schedule 5.2 2015 2016 2017 2018 2019
Service Fee 500 500 500 500 500
Number of Clients-Rush 256 286 319 357 398
Total Income - Passport Pro 127861 142903 159675 178372 199212

Service Fee 300 300 300 300 300

Number of Clients-Regular 475 531 593 663 740
Total Income - Passport Pro 142474 159235 177924 198758 221979

Service Fee 500 500 500 500 500

Number of Clients 183 204 228 255 285
Total Income - Visa Assistan 91329 102074 114054 127409 142295

Schedule 5.3 2015 2016 2017 2018 2019

Total Commission Income 1179669 1318451 1473192 1645697 1837971
Total Service Income 361664 404212 451652 504539 563486
Total Income 1541333 1722663 1924845 2150236 2401458
Schedule 6

Monthly
SSS
Position Status Gross Pay
ER EE TOTAL
Manager S 20000 1209 581 1790
Accountant S 18000 1209 581 1790
Officer 1 S 12000 894 436 1330
Liaison 1 S 12000 894 436 1330
Total 62000 4205 2035 6240

Annually
SSS
Position Status Gross Pay
ER EE TOTAL
Manager S 240000 14504 6976 21480
Accountant S 216000 14504 6976 21480
Officer 1 S 144000 10728 5232 15960
Liaison 1 S 144000 10728 5232 15960
Total 744000 50465 24415 74880

Monthly
SSS PHILHEALTH PAG-IBIG
Position Status Gross Pay
EE EE EE
Manager S 20000 581 250 100
Accountant S 18000 581 225 100
Officer 1 S 12000 436 150 100
Liaison 1 S 12000 436 150 100
Total 62000 2035 775 400

Annually
SSS PHILHEALTH PAG-IBIG
Position Status Gross Pay
EE EE EE
Manager S 240000 6976 3000 1200
Accountant S 216000 6976 2700 1200
Officer 1 S 144000 5232 1800 1200
Liaison 1 S 144000 5232 1800 1200
Total 744000 24415 9300 4800

Position 2015 2016 2017 2018

Manager 193823 193823 193823 193823
Accountant 176123 176123 176123 176123
Officer 1 122468 122468 122468 122468
Liaison 1 122468 122468 122468 122468
Computer Technician 6000 6000 6000 6000
Electrical Technician 6000 6000 6000 6000
Janitor 21600 21600 21600 21600
Total 648483 648483 648483 648483

Schedule 6.1 2015 2016 2017 2018

Net Cash Pay 648483 648483 648483 648483
SSS Contribution 24415 24415 24415 24415
PhilHealth Contribution 9300 9300 9300 9300
Pag-IBIG Contribution 4800 4800 4800 4800
Withholding Tax 90602 90602 90602 90602
Salary Expense 777600 777600 777600 777600
13th Month Pay 62000 62000 62000 62000
Total Salary Expense 839600 839600 839600 839600

Schedule 6.2 2015 2016 2017 2018

Salaries Payable, beg 0 0 0 0
Net Cash Pay 710483 710483 710483 710483
Cash Paid 710483 710483 710483 710483
Salaries Payable, end 0 0 0 0

Schedule 6.3 2015 2016 2017 2018

SSS Contribution Payable, beg 0 24415 24415 24415
Increase in Contribution Payable 24415 24415 24415 24415
Cash Paid 0 24415 24415 24415
SSS Contribution Payable, end 24415 24415 24415 24415

Schedule 6.4 2015 2016 2017 2018

PhilHealth Contribution Payable, 0 9300 9300 9300
Increase in Contribution Payable 9300 9300 9300 9300
Cash Paid 0 9300 9300 9300
PhilHealth Contribution Payable, 9300 9300 9300 9300

Schedule 6.5 2015 2016 2017 2018

Pag-IBIG Contribution Payable, be 0 4800 4800 4800
Increase in Contribution Payable 4800 4800 4800 4800
Cash Paid 0 4800 4800 4800
Pag-IBIG Contribution Payable, en 4800 4800 4800 4800

Schedule 6.6 2015 2016 2017 2018

Withholding Tax Payable, beg 0 90602 90602 90602
Increase in Contribution Payable 90602 90602 90602 90602
Cash Paid 0 90602 90602 90602
Withholding Tax Payable, end 90602 90602 90602 90602
 PHILHEALTH PAG-IBIG
ER EE TOTAL ER EE TOTAL
250 250 500 100 100 200
225 225 450 100 100 200
150 150 300 100 100 200
150 150 300 100 100 200
525 525 1550 400 400 800

PHILHEALTH PAG-IBIG
ER EE TOTAL ER EE TOTAL
3000 3000 6000 1200 1200 2400
2700 2700 5400 1200 1200 2400
1800 1800 3600 1200 1200 2400
1800 1800 3600 1200 1200 2400
9300 9300 18600 4800 4800 9600

WITHHOLDING TOTAL
TAX DEDUCTIONS NET PAYABLE
2917 3848 16152
2417 3323 14677
1108 1794 10206
1108 1794 10206
7550 10760 51240

WITHHOLDING TOTAL
TAX DEDUCTIONS NET PAYABLE
35001 46177 193823
29001 39877 176123
13300 21532 122468
13300 21532 122468
90602 129117 614883

2019
193823
176123
122468
 122468
6000
6000
21600
648483

2019
648483
24415
9300
4800
90602
777600
62000
839600

2019
0
710483
710483
0

2019
24415
24415
24415
24415

2019
9300
9300
9300
9300

2019
4800
4800
4800
4800

2019
90602
90602
90602
90602
WITHHOLDING
TAX
2917
2417
1108
1108
7550

WITHHOLDING
TAX
35001
29001
13300
13300
90602
Schedule 7 Monthly Rental Number of Months 2015 2016 2017 2018
Rent Payable, beg 0 0 0 0
Rent Expense 38800 12 465600 465600 465600 465600
Rent Paid 465600 465600 465600 465600
Rent Payable, end 0 0 0 0

Schedule 8 Monthly Rental Number of Months 2015 2016 2017 2018

Advances to Lessor 38800 2 77600 77600 77600 77600
2019
0
465600
465600
0

2019
77600
Schedule 9.1
Quantity Cost Total Cost Total Salvage Value Esimated Years
Computer 4 19000 76000 7600 5
Computer Software 1 50000 50000 5000 5
Printer 1 6800 6800 680 5
Fax Machine 1 11800 11800 1180 5
Television 1 33000 33000 3300 5
Air Conditioner 3 8000 24000 2400 5
Water Dispenser 1 5000 5000 500 5
Total Equipment 206600 20660

Schedule 9.2
Quantity Cost Total Cost Total Salvage Value Esimated Years
Cash Vault 1 5000 5000 500 5
Office Table 2 5100 10200 1020 5
Clerical Chair 3 1600 4800 480 5
Customer's Chair 2 1100 2200 220 5
Couch 2 12900 25800 2580 5
Shelf 2 11200 22400 2240 5
Reservation Counter 1 10000 10000 1000 5
Center Table 1 13400 13400 1340 5
Table 1 24600 24600 2460 5
Total Furniture and Fixtures 118400 11840

Schedule 9.3
Quantity Cost Total Cost Total Salvage Value Esimated Years
Total Leasehold Improvements 430000 0 10

Schedule 9.4
Quantity Cost Total Cost Total Salvage Value Esimated Years
Total 755000 32500 10
 Depreciation Carrying Value
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
13680 13680 13680 13680 13680 62320 48640 34960 21280 7600
9000 9000 9000 9000 9000 41000 32000 23000 14000 5000
1224 1224 1224 1224 1224 5576 4352 3128 1904 680
2124 2124 2124 2124 2124 9676 7552 5428 3304 1180
5940 5940 5940 5940 5940 27060 21120 15180 9240 3300
4320 4320 4320 4320 4320 19680 15360 11040 6720 2400
900 900 900 900 900 4100 3200 2300 1400 500
37188 37188 37188 37188 37188 169412 132224 95036 57848 20660

Depreciation Carrying Value

2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
900 900 900 900 900 4100 3200 2300 1400 500
1836 1836 1836 1836 1836 8364 6528 4692 2856 1020
864 864 864 864 864 3936 3072 2208 1344 480
396 396 396 396 396 1804 1408 1012 616 220
4644 4644 4644 4644 4644 21156 16512 11868 7224 2580
4032 4032 4032 4032 4032 18368 14336 10304 6272 2240
1800 1800 1800 1800 1800 8200 6400 4600 2800 1000
2412 2412 2412 2412 2412 10988 8576 6164 3752 1340
4428 4428 4428 4428 4428 20172 15744 11316 6888 2460
21312 21312 21312 21312 21312 97088 75776 54464 33152 11840

Depreciation Carrying Value

2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
86000 86000 86000 86000 86000 344000 258000 172000 86000 0

Depreciation Carrying Value

2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
144500 144500 144500 144500 144500 610500 466000 321500 177000 32500
 Accumulated Depreciation
2015 2016 2017 2018 2019
13680 27360 41040 54720 68400
9000 18000 27000 36000 45000
1224 2448 3672 4896 6120
2124 4248 6372 8496 10620
5940 11880 17820 23760 29700
4320 8640 12960 17280 21600
900 1800 2700 3600 4500
37188 74376 111564 148752 185940

Accumulated Depreciation
2015 2016 2017 2018 2019
900 1800 2700 3600 4500
1836 3672 5508 7344 9180
864 1728 2592 3456 4320
396 792 1188 1584 1980
4644 9288 13932 18576 23220
4032 8064 12096 16128 20160
1800 3600 5400 7200 9000
2412 4824 7236 9648 12060
4428 8856 13284 17712 22140
21312 42624 63936 85248 106560

Accumulated Depreciation
2015 2016 2017 2018 2019
86000 172000 258000 344000 430000

Accumulated Depreciation
2015 2016 2017 2018 2019
144500 289000 433500 578000 722500
Schedule 10.1 Unit Price Quantity Total Cost
Ballpen 40 5 200
Bond Paper (short) 149 5 745
Carbon Paper 12 3 36
Cash Register Tape 20 40 800
Clipboard 75 2 150
Columnar notebook 34 6 204
Correction Fluid 35 5 175
Cutter 27.75 5 138.75
Expandable Folder 15 10 150
Fastener 22.5 1 22.5
Fire Extinguisher 1500 2 3000
Folder (short) 3 15 45
Glue 20 3 60
Highlighter 24 5 120
Masking Tape 30 5 150
Paper Clip (33mm) 6.75 2 13.5
Pay Slip Envelope 13.25 1 13.25
Pencil 20.75 5 103.75
Permanent Marker 19 5 95
Printer’s Ink (black) 390 5 1950
Printer’s Ink (colored) 390 5 1950
Puncher 89 2 178
Record Book 60 2 120
Rubber Band 166 2 332
Ruler (12”) 14 2 28
Scissors 18 2 36
Scotch Tape 21 5 105
Sharpener 14.7 2 29.4
Stamping Dater 74.75 1 74.75
Stamp Pad Ink 27 5 135
Stapler 57.75 3 173.25
Staple Wires (#35) 23 10 230
Time Card 74 2 148
White Board (2X3ft.) 825 1 825
White Board Marker 23.75 5 118.75
White Board Eraser 12.5 2 25
TOTAL 12680
Schedule 10.2 2015 2016 2017 2018 2019
Office Supplies, beg 0 634 589 598 610
Purchases 12680 11150 11373 11600 11832
Office Supplies, end 634 589 598 610 622
Office Supplies Expense 12046 11195 11364 11589 11820
Schedule 11.1 Quantity Wattage (kW) Hours Rate per kW/h
Computer 4 0.049 8 5.190
Printer 1 0.480 8 5.190
Fax Machine 1 0.250 8 5.190
Television 1 0.322 8 5.190
Air Conditioner 3 1.440 8 5.190
Water Dispenser 1 0.090 8 5.190
LED Light Builb 6 0.020 8 5.190
Total Electricity Expense

Schedule 11.2 m3/Month Minimum Charge Monthly Cost Annual Cost

Water Less than 10m3 189 189 2272

Schedule 11.3 Quantity/Month Price Monthly Cost Annual Cost

Drinking Water 10 35 350 4200

Schedule 11.4 Quantity/Month Price Monthly Cost Annual Cost

PLDT Subscription Plan 1 1899 1899 22788
Postpaid - Smart 1 599 599 7188
Postpaid - Globe 1 599 599 7188

Schedule 11.5 2015 2016 2017 2018

Electricity 62375 63622 64895 66192
Water 2272 2295 2318 2341
Drinking Water 4200 4200 4200 4200
PLDT Subsription Plan 22788 22788 22788 22788
Postpaid - Smart 7188 7188 7188 7188
Postpaid - Globe 7188 7188 7188 7188
Total Utilities Expense 106011 107281 108576 109897

Schedule 11.5 2015 2016 2017 2018

Utilities Payable, beg 0 0 0 0
Total Utilities Expense 106011 107281 108576 109897
Total Utilities Paid 106011 107281 108576 109897
Utilities Payable, end 0 0 0 0
Daily Cost Days of Operation Annual Cost
8.138 260 2116
19.930 260 5182
10.380 260 2699
13.369 260 3476
179.366 260 46635
3.737 260 972
4.982 260 1295
239.903 62375

2019
67516
2364
4200
22788
7188
7188
111245

2019
0
111245
111245
0
Schedule 12.1 Quantity Cost Total Cost
Promotional Posters 18x24 20 50 1000
Tarpaulin 30 sq. ft. 10 900 9000
Leaflets 3x8 5000 2 10000
Foldable fans 2000 10 20000
Calling Cards 5000 1 5000
Total 45000
Schedule 12.2 2015 2016 2017 2018 2019
Advertising Payable, beg 0 0
Advertising Expense 45000 45900 46818 47754 48709
Cash Paid 45000 45900 46818 47754 48709
Advertising Payable, end 0 0 0 0 0
Schedule 13.1
Procedures to Register Business Cost
1.Register the company with the Securities and Exchange Commission (SEC) 2400
2. Notarize articles of co-partnership and treasurer's affidavit at the notary 500
3. Register the company with the BIR and receive pre-registered Taxpayer 500
Identification Number (TIN) from the BIR
4. Obtain barangay clearance 250
5. Pay the annual community tax and obtain the community tax certificate (CTC) from 500
the City Treasurer's Office (CTO)
6. Obtain the business permit to operate from the BPLO 5400
7. Buy special books of account at bookstore 400
8. Apply for Certificate of Registration (COR) and TIN at the Bureau of Internal 115
Revenue (BIR)
9. Pay the registration fee and documentary stamp taxes (DST) at the AAB 5700
10. Obtain the authority to print receipts and invoices from the BIR No charge
11. Print receipts and invoices at BIR 3500
12. Have books of accounts and Printer’s Certificate of Delivery (PCD) stamped by the No charge
BIR
13. Register with the Social Security System (SSS) No charge
14. Register with the Philippine Health Insurance Company (PhilHealth) No charge
15. Register with Home Development Mutual Fund (Pag-ibig) No charge
Total Registration Cost 19265
Yearly Accreditation Fee 1100
Total Permit and Licences 20365

Schedule 13.2 2015 2016

Permit and Licences Payable, beg 0 0
Permit and Licences Fee 20365 1100
Cash Paid 20365 1100
Permit and Licences Payable, end 0 0
2017 2018 2019
0 0 0
1100 1100 1100
1100 1100 1100
0 0 0
Schedule 14 2015 2016 2017 2018 2019
Miscellaneous Payable, beg 0 0 0 0 0
Hiring and Training 5000 0 0 0 0
Transportation 50000 50000 50000 50000 50000
Repairs and Maintenance 15000 15000 15000 15000 15000
Total Miscellaneous Expense 70000 65000 65000 65000 65000
Cash Paid 70000 65000 65000 65000 65000
Miscellaneous Payable, end 0 0 0 0 0
Schedule 15 2015 2016 2017 2018 2019
Note Payable, beg 0 500000 500000 500000 500000
Notes Issued 500000 0 0 0 0
Notes Paid 0 0 0 0 0
Note Payable, end 500000 500000 500000 500000 500000

Schedule 16 2015 2016 2017 2018 2019

Interest Payable, beg 0 0 0 0 0
Interest Expense 60000 60000 60000 60000 60000
Interest Paid 60000 60000 60000 60000 60000
Interest Payable, end 0 0 0 0 0

Schedule 18 2015 2016 2017 2018 2019

Income Tax Payable (Benefit), beg 0 -88715 -95721 -22806 116466
Income Tax Expense -88715 -7005 72914 162078 261553
Income Tax Paid 0 0 0 22806 116466
Income Tax Payable (Benefit), end -88715 -95721 -22806 116466 261553
Schedule 17.1 2015 2016 2017 2018 2019
Gross Receipts
Commission Income 1179669 1318451 1473192 1645697 1837971
Service Income 361664 404212 451652 504539 563486
Total Receipts subject to VAT 1541333 1722663 1924845 2150236 2401458
Rate 1/9 1/9 1/9 1/9 1/9
Total Output VAT 165143 184571 206233 230382 257299

Schedule 17.2 2015 2016 2017 2018 2019

Gross Payments
Payment for Capital Assets 755000 0 0 0 0
Rent Paid 543200 465600 465600 465600 465600
Office Supplies 12680 11150 11373 11600 11832
Utilities 106011 107281 108576 109897 111245
Advertising 45000 45900 46818 47754 48709
Miscellaneous 70000 65000 65000 65000 65000
Total Payments subject to VAT 1531891 694931 697367 699852 702387
Rate 1/9 1/9 1/9 1/9 1/9
Total Input Taxes 164131 74457 74718 74984 75256

Schedule 17.3 2015 2016 2017 2018 2019

VAT Payable, beg 0 1012 111126 242641 398040
Output VAT 165143 184571 206233 230382 257299
Input VAT 164131 74457 74718 74984 75256
VAT Payable 1012 111126 242641 398040 580083
VAT Paid 1012 111126 242641 398040 580083
VAT Payable, end 0 0 0 0 0
 SAFE AND SOUND TRAVEL AGENCY
Comparative Statement of Comprehensive Income
For Years Ended 2015, 2016, 2017, 2018

Schedule 2015 2016 2017

Commission Income 5.1 1179669 1318451 1473192
Service Income 5.2 361664 404212 451652
Total Income 5.3 1541333 1722663 1924845
Operating Expenses
Salary Expense 6.1 839600 839600 839600
Rent Expense 7 465600 465600 465600
Depreciation Expense 9.4 144500 144500 144500
Office Supplies Expense 10.2 12046 11195 11364
Utilities Expense 11.5 106011 107281 108576
Advertising Expense 12.2 45000 45900 46818
Permit and Licenses 13.2 20,365 1,100 1,100
Miscellaneous Expense 14 70000 65000 65000
Interest Expense 16 60000 60000 60000
Net Income -221788 -17513 182286
Income Tax Expense (Benefit) 17 -88715 -7005 72914
Net Income after Taxes -133073 -10508 109372
Income
18

2018 2019
1645697 1837971
504539 563486
2150236 2401458

839600 839600
465600 465600
144500 144500
11589 11820
109897 111245
47754 48709
1,100 1,100
65000 65000
60000 60000
405196 653883
162078 261553
243117 392330
 SAFE AND SOUND TRAVEL AGENCY
Comparative Statement of Changes in Owner's Equity
For Years Ended 2015, 2016, 2017, 2018

Abariso, Capital Cruz, Capital Dalangin, Capital Espiritu, Capital

Capital, 01/01/15 200000 200000 200000 200000
Net Income, 2015 -22179 -22179 -22179 -22179
Capital, 01/01/16 177821 177821 177821 177821
Net Income, 2016 -1751 -1751 -1751 -1751
Capital, 01/01/17 176070 176070 176070 176070
Net Income, 2017 18229 18229 18229 18229
Capital, 01/01/18 194298 194298 194298 194298
Net Income, 2018 40520 40520 40520 40520
Capital, 01/01/19 234818 234818 234818 234818
Net Income, 2019 65388 65388 65388 65388
Capital, 31/12/19 300206 300206 300206 300206
AGENCY
in Owner's Equity
2017, 2018

Fernandez, Capital Mateo, Capital Total

200000 200000 1200000
-22179 -22179 -133073
177821 177821 1066927
-1751 -1751 -10508
176070 176070 1056419
18229 18229 109372
194298 194298 1165791
40520 40520 243117
234818 234818 1408908
65388 65388 392330
300206 300206 1801238
 SAFE AND SOUND TRAVEL AGENCY
Comparative Statement of Financial Position
For Years Ended 2015, 2016, 2017, 2018

Schedule 2015 2016 2017

Assets
Current Assets
Cash CF 918595 1045627 1372404
Office Supplies 10.2 634 589 598
Total Current Assets 919229 1046216 1373002
Noncurrent Assets
Advances to Lessor 8.0 77600 77600 77600
Equipment, net 9.1 169412 132224 95036
Furniture and Fixtures, net 9.2 97088 75776 54464
Leasehold Improvements, net 9.3 344000 258000 172000
Income Tax Benefit 17 88715 95721 22806
Total Noncurrent Assets 776815 639321 421906
Total Assets 1696044 1685536 1794908

Liabilities
Current Liabilities
SSS Contribution Payable 6.3 24415 24415 24415
PhilHealth Contribution Payable 6.4 9300 9300 9300
Pag-IBIG Contribution Payable 6.5 4800 4800 4800
Withholding Tax Payable 6.6 90602 90602 90602
Income Tax Payable 18 0 0 0
Total Current Liabilities 129117 129117 129117
Noncurrent Liabilities
Notes Payable 15 500000 500000 500000

Total Liabilities 758234 758234 758234

Shareholder's Equity
Abariso, Capital 177821 176070 194298
Cruz, Capital 177821 176070 194298
Dalangin, Capital 177821 176070 194298
Espiritu, Capital 177821 176070 194298
Fernandez, Capital 177821 176070 194298
Mateo, Capital 177821 176070 194298
Total Shareholer's Equity 1066927 1056419 1165791

Total Liabilities and Shareholder's Equity 1825161 1814653 1924025

Check -129117 -129117 -129117

 2018 2019

1899282 2581187
610 622
1899891 2581809

77600 77600
57848 20660
33152 11840
86000 0
0 0
254600 110100
2154491 2691909

24415 24415
9300 9300
4800 4800
90602 90602
116466 261553
245583 390670

500000 500000

991166 1281341

234818 300206
234818 300206
234818 300206
234818 300206
234818 300206
234818 300206
1408908 1801238

2400075 3082579

-245583 -390670
 SAFE AND SOUND TRAVEL AGENCY
Comparative Statement of Cash Flows
For Years Ended 2015, 2016, 2017, 2018

2015 2016 2017 2018 2019

Cash flow from Operating Activities
Gross Receipts 1541333 1722663 1924845 2150236 2401458
Salary Paid 710483 710483 710483 710483 710483
Rent Paid 465600 465600 465600 465600 465600
Office Supplies Paid 12680 11150 11373 11600 11832
Utilities Paid 106011 107281 108576 109897 111245
Advertising Paid 45000 45900 46818 47754 48709
Permit and Licences Paid 20365 1100 1100 1100 1100
Miscellaneous Paid 70000 65000 65000 65000 65000
Advances to Lessor 77600 0 0 0 0
SSS Contribution Paid 0 24415 24415 24415 24415
PhilHealth Contribution Paid 0 9300 9300 9300 9300
Pag-IBIG Contribution Paid 0 4800 4800 4800 4800
Withholding Tax Paid 0 90602 90602 90602 90602
Income Tax Paid 0 0 0 22806 116466

Cash flow from Investing Activities

Purchase of Equipment 206600 0 0 0 0
Purchase of Furniture and Fixtures 118400 0 0 0 0
Purchase of Leasehold Improvements 430000 0 0 0 0

Cash Flow from Financing Activities

Original Investment 1200000 0 0 0 0
Issuance of Notes payable 500000 0 0 0 0
Interest Paid 60000 60000 60000 60000 60000

Net Cash Flow 918595 127032 326777 526878 681905

Cash Balance, beg 0 918595 1045627 1372404 1899282
Cash Balance, end 918595 1045627 1372404 1899282 2581187
Financial Evaluation Measures

2015 2016 2017 2018 2019

Liquidity Ratio
A.Working Capital= Cur 790111.68 917098.60 1243884.70 1654308.27 2191138.22
B. Current Asset Ratio 7.12 8.10 10.63 7.74 6.61
C. Acid Test Ratio=Qui 7.11 8.10 10.63 7.73 6.61

Profitability Ratio
A. Net Profit Margin -9% -1% 6% 11% 16%
B. Return on Investme -12% -1% 9% 17% 22%
C. Return on Asset = -8% -1% 6% 11% 15%

Asset Management Ratio

Total Assets Turnover 0.91 1.02 1.07 1.00 0.89

Debt Management Ratio

A. Debt Ratio = Total L 0.45 0.45 0.42 0.46 0.48
B. Debt/ Equity Ratio 0.71 0.72 0.65 0.70 0.71

Capital Budgeting Evaluation Measures

Payback Period: Year RemainingCash Flows
1 1015645 918595
2 97050 127032

Payback Period: 1.76 years

Net Present Value: Required Rate 15%

Year Cash Flows
1 918595
2 127032
3 326777
4 526878
5 681905
NPV= 734320.03

Profitability Index: 1.72