SEMAFRANCA STORE

Poblacion, Carmen, Surigao del Sur

FINANCIAL STATEMENT
as of December 31, 2015 and 2014
(Amounts in Philippines Peso)

ASSETS

CURRENT ASSETS
2015 2014
Cash P 363,660.84 P 336,723.00
Trade Receivable 681,699.00 72,361.00
Inventories 2,425,359.22 3,165,777.41
Bad Orders/Returned Fulls 741,724.78
Prepayments 13,407.50 8,631.00
TOTAL CURRENT ASSETS 4,225,851.34 3,583,492.41

PROPERTY AND EQUIPMENT

Transportation and Equipment 250,000.00 250,000.00

Less accumulated Depreciation 90,000.00 80,000.00

Net, Property and Equipment 160,000.00 170,000.00

TOTAL ASSETS 4,385,851.34 3,753,492.41

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Account Payables 1,200,766.42 1,035,265.67
Decrease in Accrued Taxes 4,465.50 21,901.66
Total Current Liabilities 1,205,231.92 1,057,167.33
LONG TERM LIABILITIES
Loan Payable 1,500,000.00 1,200,000.00
Total Liabilities 2,705,231.92 2,257,167.33

CAPITALS
Leo Philip F. Orquina, Capita, Beginning 1,496,325.08 1,320,806.66
Add: Net Income 184,294.34 175,518.42
Leo Philip F. Orquina, Capita, End 1,680,619.42 1,496,325.08
TOTAL LIABILITIES AND CAPITAL 4,385,851.34 3,753,492.41

CERTIFIED CORRECT

LEO PHILIP F. ORQUINA

Proprietor
 SESCON FUEL REFILLING STATION
National Highway, Linibunan, Madrid
Surigao del Sur

SCHEDULE OF TAXES, LICENSES AND FEES

TYPE AMOUNT DATE PAID O.R. NO.

Brgy. Clearance 150.00 1/14/2015 5343033
Police Clearance 75.00 1/15/2015 5343266
Mayor's Permit Bus. Tax
Licenses & Fees 11900.00 1/20/2015 5343820
Lab. Fee 225.00 1/21/2015 5343926
Business Tax. 2nd Quarter 4375.00 4/20/2015 5637047
Business Tax 3rd Quarter 4375.00 7/10/2015 5772200
Business Tax 4th Quarter 4375.00 10/20/2015 5775033
TOTAL 25,475.00

CERTIFIED CORRECT

RALPH ANTHONY E. SESCON

Proprietor
 A. ESTAL PAWNSHOP
Tandag City, Surigao del Sur

SCHEDULE OF PERCENTAGE TAX PAYMENTS

For the Year Ended December 31, 2015

TAXABLE
AEP-TANDAG TAX DUE ROR NUMBER DATE PAID
AMOUNT
January 2015 24,999.00 1,249.95 TRXN SEQ. 15451 2/20/2015
February 2015 27,196.00 1,359.80 TRXN SEQ. 36279 3/20/2015
March 2015 28,438.00 1,440.90 TRXN SEQ. 71637 4/15/2015
April 2015 26,667.00 1,333.35 004573 5/20/2015
May 2015 26,667.00 1,333.35 006144 6/18/2015
June 2015 27,619.00 1,380.95 001207 7/21/2015
July 2015 26,839.00 1,341.95 001481 8/20/2015
August 2015 19,539.00 976.95 101642 9/18/2015
September 2015 23,771.00 1,188.55 101867 10/19/2015
October 2015 23,771.00 1,188.55 102124 11/20/2015
November 2015 24,952.00 1,247.60 102282 12/21/2015
December 2015 25,400.00 1,270.00 102536 1/19/2016
TOTAL 305,858.00 15,311.90

SCHEDULE OF TAXES, LICENSES AND FEES

FOR THE YEAR 2015

TYPE AMOUNT DATE PAID O.R. NO.

FSIF 1,093.00 1/16/2015 14-1577341
Mayor's Permit, Bus.
1/20/2015 5583279
Tax and Fees 14,680.00
Bus. Tax 2nd Quarter 2,500.00 4/20/2015 5637046
Bus. Tax 2nd Quarter 3,750.00 7/31/2015 5853402
Bus. Tax 3rd Quarter 2,500.00 7/20/2015 5772199
Bus. Tax 3rd Quarter 3,750.00 10/28/2015 5925911
Bus. Tax 4th Quarter 2,500.00 10/20/2015 5775032

Certified Correct:

CLETO M. SESCON
Proprietor
 SESCON GASOLINE STATION
Sto. Niño, San Agustin

SCHEDULE OF QUARTERLY INCOME TAX

For the Year 2015

PERIOD DATE PAID OR NUMBER AMOUNT

FIRST QUARTER 4/14/2015 102565 2,124.34
2ND QUARTER 8/17/2015 102480 3,218.39
3RD QUARTER 11/13/2015 103059 2,663.30
TOTAL 8,006.03

Certified Correct:

VICTORINO M. SESCON JR.

Proprietor
 A. ESTAL PAWNSHOP
Tandag City, Surigao del Sur

SCHEDULE OF MONTHLY REMITTANCE RETURN

OF CREDITABLE INCOME TAXES WITHHELD
FOR THE YEAR 2015
TAX
MONTH TAX BASE DATE PAID RECEIPT NO.
WITHHELD
January 2015 7,560.00 378.00 2/5/2015 TRXN SEQ. 26520
February 2015 7,560.00 378.00 3/5/2015 TRXN SEQ. 28080
March 2015 7,560.00 378.00 4/10/2015 TRXN SEQ. 22542
April 2015 7,560.00 378.00 5/5/2015 TRXN SEQ. 70200
May 2015 7,560.00 378.00 6/5/2015 00011
June 2015 7,560.00 378.00 7/6/2015 100970
July 2015 7,560.00 378.00 8/5/2015 101296
August 2015 7,560.00 378.00 9/7/2015 101540
September 2015 7,560.00 378.00 10/1/2015 101726
October 2015 7,560.00 378.00 11/5/2015 101933
November 2015 7,560.00 378.00 12/7/2015 102200
December 2015 7,560.00 378.00 1/5/2016 102364
4,536.00

SCHEDULE OF MONTHLY WITHHOLDING TAX ON COMPENSATION

TAX
MONTH DATE PAID RECEIPT NO.
WITHHELD
January 2015 41.67 2/5/2015 TRXN SEQ. 14167
February 2015 41.67 3/5/2015 TRXN SEQ. 14001
March 2015 41.67 4/10/2015 TRXN SEQ. 12047
April 2015 41.67 5/5/2015 TRXN SEQ. 56254
May 2015 41.67 6/5/2015 00013
June 2015 41.67 7/6/2015 100973
July 2015 41.67 8/5/2015 101297
August 2015 41.67 9/7/2015 101539
September 2015 41.67 10/1/2015 101725
October 2015 41.67 11/5/2015 101973
November 2015 41.67 12/1/2015 102202
December 2015 41.67 1/3/2016 102363
506,469.00

CERTIFIED CORRECT

CLETO M. SESCON
Proprietor
 A. ESTAL PAWNSHOP
Tandag City, Surigao del Sur

SCHEDULE OF DOCUMENTARY STAMP TAX

For the Year Ended December 31, 2015
AEP - TANDAG
MONTH Date Paid O.R. NO. Amount
January 2/5/2015 TRXN SEQ. 26180 374.80
February 3/5/2015 TRXN SEQ. 32736 308.80
March 4/6/2015 TRXN SEQ. 72105 287.40
April 5/5/2015 TRXN SEQ. 31950 307.10
May 6/5/2015 021105 310.00
June 7/6/2015 100971 290.00
July 8/5/2015 101294 270.00
August 9/7/2015 101536 300.00
September 10/1/2015 101723 280.00
October 11/5/2015 004573 290.00
November 12/3/2015 402198 300.00
December 1/5/2016 102361 290.00
TOTAL 3,608.10

AEP - MADRID
MONTH Date Paid O.R. NO. Amount
January 2/5/2015 02525486 34.00
February 3/7/2015 02535788 32.00
March 4/6/2015 100002 37.00
April 5/5/2015 TRXN SEQ. 27450 36.00
May 6/5/2015 00010 30.00
June 7/6/2015 100972 30.00
July 8/5/2015 101293 30.00
August 9/7/2015 101537 30.00
September 10/1/2015 101722 30.00
October 11/5/2015 101931 30.00
November 12/1/2015 102199 30.00
December 1/5/2016 102360 30.00
TOTAL 379.00

CERTIFIED CORRECT

CLETO M. SESCON
Proprietor
 DMA MARKETING
Madrid, Surigao del Sur

BUSINESS TAXES AND LICENSES PAID

YEAR 2015

DATE PAID O.R. TYPE AMOUNT

1/29/2015 5344420 Mayor's Permit Mun. Lic. & other fees 5,475.00
1/29/2015 5344419 Police Clearance 75.00
1/29/2015 04543748 Community Tax 405.00
1/19/2015 02525056 Annual Reg. BIR 500.00
4/20/2015 5637233 Mun. Lic. 2nd Quarter 2,000.00
7/20/2015 5772172 Mun. Lic. 3rd Quarter 2,000.00
10/20/2015 5775017 Mun. Lic. 4th Quarter 2,000.00
TOTAL 12,455.00

CERTIFIED CORRECT

JOSEPHINE G. ARADO
Proprietor
 HIGHWAY CENTER PHARMACY AND GEN. MDSE.
Highway Quirino, Madrid, SDS

SCHEDULE OF TAXES, LICENSES AND FEES

FOR THE YEAR 2015

TYPE AMOUNT DATE PAID O.R. NO.

Mayor's Permit Mun.
Lic. 1st Quarter, 5,350.00 1/8/2015 5342677
Licenses and Fees
FSIF 329.00 1/9/2015 14-349105
Community Tax 205.00 1/6/2015 04543277
Mun. Lic. 2nd quarter 2,200.00 4/8/2015 5636353
Mun. Lic. 3rd quarter 2,200.00 7/20/2015 5772309
Mun. Lic. 4th quarter 2,200.00 10/15/2015 5774535
TOTAL 12,484.00

Certified Correct:

ALICIA R. LOAYON
Proprietor
 HIGHWAY CENTER PHARMACY AND GEN. MDSE.
Highway Quirino, Madrid, Surigao del Sur

BALANCE SHEET
As of December 31, 2018
(with comparative figures of 2017)

ASSETS 2018 2017

Current Assets:
Cash P 583,057.83 P 424,391.50
Inventory End 300,546.00 277,706.00
Total Current Assets P 883,603.83 P 702,097.50

LIABILITIES AND CAPITAL

Liabilities:
Accrued Percentage Tax P 4,660.83 P 1,254.50
Capital
Beginning P 700,843.00 P 530,187.00
Add Net Income 178,100.00 170,656.00
Total Capital P 878,943.00 P 700,843.00
TOTAL LIABILITIES AND CAPITAL P 883,603.83 P 702,097.50

Certified Correct:

ALICIA R. LOAYON
Proprietor
 HIGHWAY CENTER PHARMACY AND GEN. MDSE.
Highway Quirino, Madrid, Surigao del Sur

INCOME STATEMENT
As of December 31, 2018)
(with comparative figures of 2017)

2018 2017

SALES P 712,299.00 P 682,624.00

Less Cost of Sales
Inventory Beginning P 277,706.00 P 248,522.50
Purchases 443,096.00 432,045.50
Total Goods Available for Sale P 720,802.00 P 680,568.00
Less: Inventory End 300,546.00 277,706.00
Cost of Goods Sold P 420,256.00 P 402,862.00
Gross Profit on Sales P 292,043.00 P 279,762.00

LESS OPERATING EXPENSES

Salaries P 20,000.00 P 20,000.00
Taxes and Licenses 39,917.19 37,587.50
Light and Water 22,530.81 20,250.00
Supplies 7,680.00 7,500.00
Transportation and Travel 15,350.00 15,468.50
Miscellaneous Expenses 8,490.00 8,300.00
Total Expenses P 113,968.00 P 109,106.00
TOTAL NET INCOME P 178,100.00 P 170,656.00

Certified Correct:

ALICIA R. LOAYON
Proprietor
 HIGHWAY CENTER PHARMACY & GENERAL MERCHANDISE
Highway Quirino, Madrid, Surigao del Sur

STATEMENT OF CASH FLOWS

December 31, 2018

NET INCOME P 178,100.00

Adjustments to reconcile income to cash
Increase in inventory end (22,840.00)
Decrease in Accrued Percentage tax 3,406.33
Net Cash balance P 158,666.33
Add: Cash at the beginning 424,391.50
Cash balance at the end P 583,057.83

Certified Correct:

ALICIA R. LOAYON
Proprietor
 SEMAFRANCA STORE
Poblacion Carmen, Surigao del Sur

NOTES TO FINANCIAL STATEMENT

YEAR 2015

General Information:
Semafranca Store is a Merchandizing business owned and managed by
Mrs. Nicanora K. Semafranca. It is engaged in merchandizing store.
The business is located at Poblacion Carmen, Surigao del Sur. It is a Non VAT entity

Note #1 Cash and Cash Equivalents:

Cash on Hand 589,262.19
Cash in Banks 477,257.00
TOTAL 1,066,519.19

Note #2 Property, Plant and Equipments:

Assets Est. Accumulated Depreciation
Life Cost Depreciation Expense
Land 150,000.00
Furniture and Fixtures 5 20,001.00 16,001.00 4,000.00
Building 20 300,000.00 120,120.00 15,000.00
Forward Trucks 10 750,000.00 375,000.00 75,000.00
TOTAL 1,220,001.00 511,121.00 94,000.00

Note #3 Accounts & Notes Payable:

Accounts Payable - Trade 250,000.00
Bank Loans Payable 350,000.00
TOTAL 600,000.00

Note #4 N.K. Semafranca, Capital

Balance, January 1 1,330,925.42
Net Saving - 2015 265,361.77
Total 1,596,287.19
Drawings 193,700.00
Balance, December 31 1,402,587.19

Note # 5 Costs of Sales:

Merchandise Inventory, January 1 124,568.00
Purchases 1,245,832.00
Total 1,370,400.00
Merchandise Inventory, December 31 122,506.00
TOTAL COST OF SALES 1,247,894.00
Note #6 Operating Expenses:
Salaries and Wages 104,848.00
Supplies 17,708.00
Light and Power 74,300.00
Interest and Maintenance 88,500.00
Oil and Fuel 12,550.00
Repair and Maintenance 18,400.00
SSS 12,888.00
Tax and Licenses 59,880.23
Depreciation Expense 94,000.00
Miscellaneous Expense 24,850.00
TOTAL COST OF SALES 507,924.23

Certified Correct:

NICANORA K. SEMAFRANCA
Proprietor
 Net
Value
150,000.00
4,000.00
179,880.00
375,000.00
708,800.00
 HIGHWAY CENTER PHARMACY AND GENERAL MERCHANDISE
Madrid, Surigao del Sur

SCHEDULE OF PAYMENT OF MONTHLY PERCENTAGE TAX

For the Year Ended December 31, 2018

TOTAL
TAXABLE
PERIOD COVERED TAX DUE PENALTY AMOUNT OR DATE PAID
AMOUNT
PAID
January 2018 59,790.00 P 1793.70 P 1793.70 02555813 2/20/2018
February 2018 49,711.00 1,491.33 1,491.33 184018-00026 3/20/2018
March 2018 51,082.00 1,532.46 1,532.46 184018-000204 4/11/2018
April 2018 63,508.00 1,906.00 1,906.00 184018-000673 5/18/2018
May 2018 56,015.00 1,681.00 1,681.00 184018-000914 6/20/2018
June 2018 62,000.00 1,863.00 1,863.00 184018-000992 7/12/2018
July 2018 77,203.00 2,316.00
August 2018 68,655.00 2,041.65 6,426.87 184018-001676 10/17/2018
September 2018 68,974.00 2,069.22
October 2018 56,434.00 1,693.02
November 2018 31,294.00 938.82 4,660.83 184018-000389 1/21/2019
December 2018 67,633.00 2,028.99
712,299.00 P 21,355.19 P 21,355.19

SCHEDULE OF TAXES, LICENSES AND FEES

TYPE AMOUNT DATE PAID OR.
Mayor's Permit Bus.
8,388.00 1/9/2018 7202797
Tax 1st Qtr.
Community Tax Cert. 205.00 1/8/2018 06296927
Police Clearance 150.00 1/8/2018 7202678
Brgy. Clearance 100.00 1/8/2018 7202821
Sanitary Permit 150.00 1/9/2018 7202927
FSIF 569.00 1/9/2018 3187050
Bus. Tax 2nd Qtr. 3,000.00 4/5/2018 7423053
Bus. Tax 3rd Qtr. 3,000.00 7/5/2018 7610693
Bus. Tax 4th Qtr. 3,000.00 10/4/2018 7613654
18,562.00

Certified Correct:

ALICIA R. LOAYON
Proprietor
 HIGHWAY CENTER PHARMACY AND GENERAL MERCHANDISE
Madrid, Surigao del Sur

SCHEDULE OF PAYMENT OF QUARTERLY INCOME TAX RETURN

For year December 31, 2018

PERIOD COVERED ROR NUMBER DATE BASIC PENALTY TOTAL

1st Qtr. 2018 184018-000532 5/4/2018 1,555.00 1,555.00
2nd Qtr. 2018 184018-001959 11/15/2018 500.00 1,000.00 1,500.00
3rd Qtr. 2018 18418-001958 11/15/2018 300.00 300.00

P3,355.00

Certified Correct:

ALICIA R. LOAYON
Proprietor