PAPAYA CRISP

INCOME STATEMENT
FOR THE YEARS ENDED DECEMBER 31

Note 2018 2019

Income
Sales 1 570,000.00 620,100.00
Cost of sales 2 227,620.00 248,197.52
Gross Profit 342,380.00 371,902.48
Expenses
Supplies 4 1,718.00 1,718.00
Salary 5 60,000.00 60,000.00
Depreciation 6 8,406.00 8,406.00
Marketing Expense 7 2,500.00 2,500.00
Utilities Expense 8 12,600.00 12,600.00
Rent expense 9 120,000.00 120,000.00
Permits and Licenses 10 2,900.00 208,124.00 2,900.00 208,124.00
Earnings before tax 134,256.00 163,778.48
Tax Expenses 11 40,276.80 49,133.54

Net Income 93,979.20 - 114,644.93

PAPAYA CRISP
STATEMENT OF CHANGES IN PARTNERS' EQUITY
FOR THE YEAR ENDING DECEMBER 31, 2018, 2019, 2020
 Name of Partner
Aquino Barolo Bello
Capital, January 1, 2018 ₱ 25,000.00 ₱ 25,000.00 ₱ 25,000.00
Additional Investment - - -
Partners' Share in the Net Income (Loss) 15,663.20 15,663.20 15,663.20
Total Capital ₱ 40,663.20 ₱ 40,663.20 ₱ 40,663.20
Withdrawal
Capital, December 31, 2018 ₱ 40,663.20 ₱ 40,663.20 ₱ 40,663.20
Additional Investment - - -
Partners' Share in the Net Income (Loss) 19,107.49 19,107.49 19,107.49
Total ₱ 59,770.69 ₱ 59,770.69 ₱ 59,770.69
Withdrawal
Capital, December 31, 2019 ₱ 59,770.69 ₱ 59,770.69 ₱ 59,770.69
Additional Investment - - -
Partners' Share in the Net Income (Loss) 25,813.93 25,813.93 25,813.93
Total Capital ₱ 85,584.62 ₱ 85,584.62 ₱ 85,584.62
Withdrawal
Capital, December 31, 2017 ₱ 85,584.62 ₱ 85,584.62 ₱ 85,584.62
 2020

710,000.00
280,613.73
429,386.27

1,718.00
60,000.00
8,406.00
2,500.00
12,600.00
120,000.00
2,900.00 208,124.00
221,262.27
66,378.68

154,883.59

ERS' EQUITY
2018, 2019, 2020
tner
Quillope Valdez Valeriano Total
₱ 25,000.00 ₱ 25,000.00 ₱ 25,000.00 ₱ 150,000.00
- - - ₱ -
15,663.20 15,663.20 15,663.20 93,979.20
₱ 40,663.20 ₱ 40,663.20 ₱ 40,663.20 ₱ 243,979.20
-
₱ 40,663.20 ₱ 40,663.20 ₱ 40,663.20 ₱ 243,979.20
- - - -
19,107.49 19,107.49 19,107.49 114,644.93
₱ 59,770.69 ₱ 59,770.69 ₱ 59,770.69 ₱ 358,624.13
-
₱ 59,770.69 ₱ 59,770.69 ₱ 59,770.69 ₱ 358,624.13
- - - -
25,813.93 25,813.93 25,813.93 154,883.59
₱ 85,584.62 ₱ 85,584.62 ₱ 85,584.62 ₱ 513,507.72
-
₱ 85,584.62 ₱ 85,584.62 ₱ 85,584.62 ₱ 513,507.72
-
 PAPAYA CRISP
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2018, 2019, 2020

2018 2019
Assets
Current Asset
Cash 99,889.20 164,583
Finished Goods Inventory Note 2 83,860 142,217
Prepaid Rent 30,000 30,000
Supplies Inventory note 3 1,318 1,318
Total Current Assets 215,067
Non-current Assets note 6
Furniture and Fixture 21,380 21,380
Less: Accumulated Depreciation 5,460 15,920 10,920
Equipment 15,938 15,938
Less: Accumulated Depreciation 2,946 12,992 5,892
Total Non-current Assets 28,912.00

Total Assets 243,979

Liabilities and Partners' Equity

Total Liabilities
Partner's Capital
Aquino 40,663 59,771
Barolo 40,663 59,771
Bello 40,663 59,771
Quillope 40,663 59,771
Valdez 40,663 59,771
Valeriano 40,663 243,979 59,771
Total Liabilities and Owners Equity 243,979
-
OSITION
019, 2020

2019 2020

313,025
157,065
30,000
1,318
338,118 501,408

21,380
10,460 16,380 5,000
15,938
10,046 8,838 7,100
20,506 12,100

358,624 513,508

85,585
85,585
85,585
85,585
85,585
358,624 85,585 513,508
358,624 513,508
- -
Note 1 SALES
QUANTITY (Un
PRODUCT JAN FEB MAR APR MAY
Papaya 80 grams 1200 900 1050 900 900

Total for CY 2018

YE
QUANTITY (Un
PRODUCT JAN FEB MAR APR MAY
Papaya Crisp (80 grams) 1000 1200 802 1200 1000

Total for CY 2019

YE
QUANTITY (Un
PRODUCT JAN FEB MAR APR MAY
Papaya Crisp (80 grams) 1500 1500 1100 1100 1000

Total for CY 2020

Note 2 COST OF GOODS MANUFACTURED

QUANTITY (Un
INGREDIENTS JAN FEB MAR APR MAY
Papaya (kl) 30 21 24 21 21
Flour (kl) 60 42 48 42 42
Sugar (kl) 60 42 48 42 42
Salt (kl) 10 8 9 8 8
Oil (L) 10 8 9 8 8
Cinnamon (bottle) 10 8 9 8 8
Current consumption - deep fryer 1500 1200 1350 1200 1200
Packaging 1500 1200 1350 1200 1200
Direct Labor 3500 3500 3500 3500 3500
Total for CY 2018 6680 2529 2847 2529 2529
 QUANTITY (Un
INGREDIENTS JAN FEB MAR APR MAY
Papaya (kl) 33 24 27 21 21
Flour (kl) 66 48 54 42 42
Sugar (kl) 66 48 54 42 42
Salt (kl) 12 10 11 8 8
Oil (L) 12 10 11 8 8
Cinnamon (bottle) 12 10 11 8 8
Current consumption - deep fryer 1800 1500 1650 1200 1200
Packaging 1800 1500 1650 1200 1200
Direct Labor 3500 3500 3500 3500 3500
Total for CY 2019

YE
QUANTITY (Un
Items JAN FEB MAR APR MAY
Papaya (kl) 33 24 27 21 21
Flour (kl) 66 48 54 42 42
Sugar (kl) 66 48 54 42 42
Salt (kl) 12 10 11 8 8
Oil (L) 12 10 11 8 8
Cinnamon (bottle) 12 10 11 8 8
Current consumption - deep fryer 1200 1200 1200 1200 1200
Packaging 1200 1200 1200 1200 1200
Direct Labor 3500 3500 3500 3500 3500
Total for CY 2020

Note 3 SUPPLIES INVENTORY

2018 2019
Item Units Cost Total Units Cost
Ballpen 30 5 150 30 5
Recording book 1 40 40 1 40
Sales receipt 18 30 540 18 30
Plastic bag 10 0 10
 Gloves 12 30 360 12 30
Staple wire 2 30 60 2 30
Correction tape 12 14 168 12 14
Total 1,318

Note 4 SUPPLIES USED

2018 2019
Item Units Cost Total Units Cost
Ballpen 30 5 150 30 5
Recording book 2 40 80 2 40
Sales receipt 18 30 540 18 30
Plastic bag 36 10 360 36 10
Gloves 12 30 360 12 30
Staple wire 2 30 60 2 30
Correction tape 12 14 168 12 14
Total 1,718

Note 5 SALARIES AND WAGES

Monthly Number of
Position Employees
Manager 5,000 1

Total 1

Note 6 DEPRECIATION

No. of Unit Total

Item Units Price Cost
Stainless dual tank dual basket deep fry 1 6000
Spoon and fork 24 12
Measuring cup 3 450
Mixing bowl 2 30
Rolling pin 3 180
Ref 1 7,100
Kitchen scale 2 300
Spatula 2 45
 Knife 2 60

Total

Furniture and Fixture

Glass shelf 1 8,000
Stainless baking table 1 12,000
Office desk 1 900
Chair 4 120

Total

Grand Total 37,318

Note 7 Marketing 2018 2019 2020

Flyers 2500 2500 2500

TOTAL 2500 2500 2500

Note 8 Utilities Expense

(Store) 2019 2020 2021
Electricity 9600 9600 9600
Water 3000 3000 3000
Total 12600 12600 12600

Note 9 Rent Expense is P10,000 per month. However, lessor requires a 3-month advance

Note 10 permits and Licenses

2019 2020 2021
DTI permit 500 500 500
Barangay clearance 200 200 200
Police clearance 200 200 200
Barangay business permit 500 500 500
BIR permit 500 500 500
Mayor's permit 1000 1000 1000
TOTAL 2900 2900 2900

Note 11 Taxes for the year is 30% of net income before taxes
 SALES (YEAR 1)
QUANTITY (Units) TOTAL NUMBER
JUN JUL AUG SEP OCT NOV DEC PAPAYA
900 1050 1200 1050 600 1050 600 11400
0
0
0

YEAR 2
QUANTITY (Units) TOTAL NUMBER
JUN JUL AUG SEP OCT NOV DEC OF PAPAYA
1050 900 1200 1000 900 1200 1200 12402
0
0
0

YEAR 3
QUANTITY (Units) TOTAL NUMBER
JUN JUL AUG SEP OCT NOV DEC OF PAPAYA
1050 1200 1100 1300 1200 1050 1100 14200
0
0

QUANTITY (Units) TOTAL NUMBER

JUN JUL AUG SEP OCT NOV DEC items
18 21 27 24 15 21 15 258
36 42 54 48 30 42 30 516
36 42 54 48 30 42 30 516
6 7 10 9 6 7 6 94
6 7 10 9 6 7 6 94
6 7 10 9 6 7 6 94
900 1050 1500 1350 900 1050 900 14100
900 1050 1500 1350 900 1050 900 14100
3500 3500 3500 3500 3500 3500 3500 42000
1908 2226 3165 2847 1893 2226 1893
units
Cost of goods manufactured 15600
Cost of sales 11400
Finished goods inventory 4200
 YEAR 2
QUANTITY (Units) TOTAL NUMBER
JUN JUL AUG SEP OCT NOV DEC items
19 24 27 24 15 21 15 271
38 48 54 48 30 42 30 542
38 48 54 48 30 42 30 542
7 8 10 9 6 8 6 103
7 8 10 9 6 8 6 103
7 8 10 9 6 8 6 103
1050 1200 1500 1350 900 1050 900 15300
1050 1200 1500 1350 900 1050 900 15300
3500 3500 3500 3500 3500 3500 3500 42000

units
Cost of goods manufactured 15300
Cost of sales (from FG end) 4200
Cost of sales (from produced) 8202
Finished goods inventory 7098
YEAR 3
QUANTITY (Units) TOTAL NUMBER
JUN JUL AUG SEP OCT NOV DEC items
19 24 27 24 15 21 15 271
38 48 54 48 30 42 30 542
38 0 54 48 30 42 30 494
7 8 10 9 6 7 6 102
7 8 10 9 6 7 6 102
7 0 10 9 6 7 6 94
1500 1200 1400 1200 1462 1200 1200 15162
1500 1200 1400 1200 1462 1200 1200 15162
3500 3500 3500 3500 3500 3500 3500 42000

units
Cost of goods manufactured 15162
Cost of sales (from FG end) 7098
Cost of sales (from produced) 7102
Finished goods inventory 8060

2019 2020
Total Units Cost Total
150 30 5 150
40 1 40 40
540 18 30 540
0 10 0
 360 12 30 360
60 2 30 60
168 12 14 168
1,318 1,318

2019 2020
Total Units Cost Total
150 30 5 150
80 2 40 80
540 18 30 540
360 36 10 360
360 12 30 360
60 2 30 60
168 12 14 168
1,718 1,718

2018 Number of 2019 Number of

Salary Employees Salary Employees
60,000 1 60,000 1

- -
- -
- -
60,000.00 1 60,000.00 1

Total 2018 2019 2020

Cost life Depreciation Depreciation Depreciation
6000 5 1200 1200 1200
288 3 96 96 96
1350 3 450 450 450
60 3 20 20 20
540 2 270 270 270
7,100 10 710 710 710
600 3 200 200 200
0 3 0 - -
 0 3 0 - -

15,938 2,946 2,946 2,946

8000 4 2000 2,000 2,000

12000 4 3000 3,000 3,000
900 3 300 300 300
480 3 160 160 160

21,380 5,460 5,460 5,460

37,318 8,406 8,406 8,406

 PRICE PROJECTED
REVENUE
50 570,000.00
-
-
-
570,000.00

PRICE PROJECTED
REVENUE
50 620,100.00
-
-
-
620,100.00

PRICE PROJECTED
REVENUE
50 710,000.00
- -
-
710,000.00

PRICE PROJECTED
cost
35 9,030.00
15 7,740.00
20 10,320.00
20 1,880.00
90 8,460.00
50 4,700.00
1 14,100.00
13 183,300.00
1 42,000.00
281,530.00
cost total cost
19.97 311,480.00
19.97 227,620.00
19.97 83,860.00
 PRICE PROJECTED
COST
35 9,485.00
15 8,130.00
30 16,260.00
20 2,060.00
90 9,270.00
50 5,150.00
1 15,300.00
13 198,900.00
1 42,000.00
306,555.00
cost total cost
20.04 306,555.00
19.97 83,860.00
20.04 164,337.52
20.04 142,217.48

PRICE PROJECTED
COST
35 9,485.00
15 8,130.00
30 14,820.00
20 2,040.00
90 9,180.00
50 4,700.00
1 8,000.00
13 197,106.00
1 42,000.00
295,461.00
cost total cost
19.49 295,461.00
20.04 142,217.48
19.49 138,396.26
19.49 157,064.74
 2020
Salary
60,000

-
-
-
60,000.00
 PAPAYA CRISP
STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31,2018 ,2019, 2020

2018 2019 2020

Cash Inflows
Investment From Partners 150,000.00
Revenue 570,000.00 620,100.00 710,000.00
Disposition of supplies - - -
Total Cash Inflows 720,000.00 620,100.00 710,000.00

Cash Outflows
Cost of sales 227,620.00 248,197.52 280,613.73
Operating Cost 199,718.00 199,718.00 199,718.00
Purchases of equipment 15,938.00
Purchases of furniture and fixture 21,380.00
Finished Goods 83,860.00 58,357.48 14,847.27
Supplies Inventory 1,318.00 - -
Prepaid Rent 30,000.00 - -
Income taxes paid 40,276.80 49,133.54 66,378.68
Partner's Withdrawal - - -
Total Cash Outflows 620,110.80 555,406.54 561,557.68

Net Cash Inflows(Outflows) 99,889.20 64,693.46 148,442.32

Cash, Beginning 99,889.20 164,582.66
Cash, Ending 99,889.20 164,582.66 313,024.98