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STATEMENT OF FINANCIAL POSITION

For the Year Ended December 31, 2019
(In Philippine Pesos)

NOTES 2019 2018

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 3, 5 5,930,924.19 3,713,504.71
Deferred Income Tax 3, 4, 6 5,395,506.16 4,232,289.82
Total Current Assets 11,326,430.35 7,945,794.53

NON CURRENT ASSETS

Property and Equipment, net 3, 4, 7 7,586,364.43 7,853,307.23

TOTAL ASSETS 18,912,794.78 15,799,101.76

LIABILITIES AND OWNER’S EQUITY

CURRENT LIABILITIES
Loans Payable-current 3, 4, 9 218,664.00 ------------

NON CURRENT LIABILITIES

Loans Payable 3, 4, 9 279,116.00 ------------
Dividends Payable 9 14,000,000.00 ------------
STOCKHOLDERS’ EQUITY 4,415,014.78 15,799,101.76

TOTAL LIABILITIES AND

STOCKHOLDERS
EQUITY 18,912,794.78 15,799,101.76
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STATEMENT OF CHANGES IN EQUITY

For the Year Ended December 31, 2019
(In Philippine Pesos)

NOTES 2019 2018

Share Capital, Beginning 3, 10 1,000,000.00 1,000,000.00

Add: Retained Earnings 3, 4, 12 3,415,014.78 14,799,101.76
Stockholders’ Equity, December 31 4,415,014.78 15,799,101.76

Retained Earnings, Beginning 3, 4, 12 14,799,101.76 12,924,695.88

Net income 3, 4, 12 2,615,913.02 1,874,406.08
Total 17,415,014.78 14,799,101.76
Dividends 3 14,000,000.00 -----
Retained Earnings, December 31 3, 4, 12 3,415,014.78 14,799,101.76
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STATEMENT OF INCOME
For the Year Ended December 31, 2019
(In Philippine Pesos)

NOTES 2019 2018

GROSS RECEIPTS/REVENUE 3, 4, 12 14,051,426.47 14,120,378.21

COSTS OF SERVICES 13 9,691,571.43 10,996,368.07

GROSS PROFIT 4,359,855.04 3,124,010.14

OPERATING EXPENSES 3, 4, 14 1,743,942.02 1,249,604.06

NET INCOME 2,615,913.02 1,874,406.08

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STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2019
(In Philippine Pesos)

NOTES 2019

CASH FLOWS FROM OPERATING ACTIVITIES

Net Income for the Year 3, 4, 12 2,615,913.02
Adjustments to Reconcile Net income
To Net Cash Provided by Operation:
Non-cash Expenses – Depreciation 3, 4, 14 480,271.40
Changes in Assets and Liabilities --
Increase in Deferred Income Tax 3, 4, 6 (5,395,506.16)
Increase in Loans Payable-Current Portion 218,664.00
Net Cash Provided by Operating Activities (2,080,657.74)

CASH FLOWS FROM FINANCING ACTIVITIES

Increase in Property, Plant & Equipment 3, 4, 7 (10,550,235.78)
Increase in Loans Payable 3, 4, 9 279,116.00
Dividends 3 14,000,000.00
Net Cash Provided by Financing Activities 3,728,880.22

CASH FLOWS FROM INVESTING ACTIVITIES

Increase/Changes in Equity 3, 11 4,282,701.71
Net Cash Provided by Investing Activities 4,282,701.71

NET INCREASE (DECREASE) IN CASH 5,930,924.19

CASH, BEGINNING -----
CASH, ENDING 3, 5 5,930,924.19