I.

Income Statement

Income Statement

Beccoe Sweet Corporation

Year ended October 2017

Revenues

Selling of Product Sales 365,000

Expenses

Salaries 120,000

Rent 180,000

Utilities 24,000

Net income 41,000

J. Balance Sheet

Asset Year 1 Year 2 Year 3

Current cash 365,000 657,000 912,000
Prepaid rent 180,000 204,000 220,000
Total 545,000 861,000 1,406,000
Furniture fixtures 18,000 22,000 50,000
Accumulated Depreciation 120,000 416,000 600,000
Total asset 170,000 388,000 382,000
Total Liabilities 85,000 69,000 102,900
Income tax Payable 24,000 28,000 53,300
Partner's equity 138,000 148,000 217,800
Total 545,000 861,000 1,406,000
K. Statement of Cash Flows

Beccoe Sweet Corporation

Statement of Cash Flow
Year ended October 2017

Net Income 60,000

Cash flow from operating activity
Cash receive from customer 208,000
Cash receive from interest 150,000
Cash paid from salaries 133,200
Cash paid from rent 15,000
506,200
Cash flow from investing activities
Purchase of equipment 34,850
Intangible assets 30,800
65,650

L. Schedule of Salaries and Employee Benefits

Monthly basic salary 5000

Other Potential Pay

Performance Bonus Based on the performance bonus policy

Night Differential 10% if shifts within (10 PM - 6 AM)

Overtime Pay For work rendered beyond 8 hours

Upon Hire
Statuary Benefits  SSS (Social Security Government Mandated
System) Benefits
 PhilHealth
 Pagibig
Bonus

 13 Month Pay  By the end of the year

 Christmas Bonus  Employee’s performance 25th of

December