Morning

Statement of Fina
As of Decembe
Notes
Assets
Current Assets
Cash and Cash Equivalents 6 1,060,000
Trade and other receivables 7 1,700,000
Advances to employees 40,000
Inventories 1,200,000
Advances to suppliers 30,000
Held for trading securities 800,000
Total: 4,830,000

Non-Current Asset
Investment in equity securities- FVOCI 300,000
Property,Plant and Equipments 8 5,800,000
Total: 6,100,000

Total Assets: 10,930,000

 Morning Co.
Statement of Financial Position
As of December 31, 20x1
Notes
Liabilities
Current Liabilities
Trade and other payables 9 1,300,000
Provision for probable loss on a lawsuit 430,000
interest payable ( due in 20x2) 340,000
Total: 2,070,000

Non-Current Liabilities
Deferred tax liability 300,000
Long term borrowings 10 2,260,000
Total: 2,560,000

Equity 4,000,000
Ordinary share capital 600,000
Share premium 1,640,000
retained earnings 11 60,000
Other components of equity 6,300,000
Total:
10,930,000
Total Liabilities and Equity
Note 6: Cash and Cash Equivalents
Cash on hand 60,000
Cash in bank 1,000,000
Cash and cash equivalents 1,060,000

Note 7: Trade and other receivables

Accounts receivable 2,000,000
allowance for doubtful accounts -300,000
Trade and other receivables 1,700,000

Note 8: Property,Plant and Equipments

Investment property 900,000
Land 2,200,000
Building 3,400,000
Accumulated depreciation - Bldg. -700,000
Property,Plant and Equipments 5,800,000

Note 9: Trade and other payables

Account Payable 720,000
Accrued Liabilities 80,000
Income tax Payable 500,000
Trade and other Payables 1,300,000

Note 10: Long term Borrowings

Loan payable ( due in 20x3) 3,000,000
Discount on loan payable -740,000

Long term borrowings 2,260,000

Note 11: Other components of Equity

revaluation surplus 90,000
translation loss on foreign operation -30,000
Other components of equity 60,000
 Friendship
Statement of Finan
As of December
Notes
Assets
Current Assets
Cash and cash equivalents 6 4,240,975
Trade and other receivables 7 17,821,848
Inventories 8 22,117,615
Advances to employees 57,610
Unearned income interest -1,234,819
Prepaid income tax 234,125
Prepaid supplies 890,239
Advances to suppliers 34,981
Held for trading securities 2,834,079
Total: 46,996,653

Non-Current Assets
Investment in equity securities-FVOCI 987,234
investment in associate 1,290,347
interest receivable ( due on mar. 1 20x2) 946,013
Property,Plant and Equipments 9 12,370,960
Deferred tax asset 1,092,387
Total: 16,686,941

Total Assets 63,683,594

 Friendship Co.
Statement of Financial Position
As of December 31, 20x1
Notes
Liabilities
Current Liabilities
Trade and other payables 10 10,682,297
Total: 10,682,297

Non-Current Liabilities
Deferred tax liability 918,732
Long term borrowings 11 7,595,530
deferred credits 712,788
provision for warranty obligations 432,187
Total: 9,659,237

Equity
Ordinary Share Capital 20,000,000
Share premium 6,000,000
Retained Earnings 12 16,344,664
Other components equity 13 997,396
Total: 43,342,060

Total Liabilities and Equity: 63,683,594

Note 6: Cash and Cash Equivalents
Cash on hand 62,350
Cash in bank- BPI (savings) 1,720,500
Cash in bank- BPI (Current) 1,890,234
Cash in bank- BDO (current) 567,891
Cash and Cash Equivalents 4,240,975

Note 7: Trade and other receivables

Account Receivable 8,341,689
Allowance for doubtful accounts -347,182
Loan receivable ( due in 20x4) 9,827,341
Trade and other receivables 17,821,848

Note 8: Inventories
Raw materials inventory 1,237,398
work in process inventory 7,987,908
finished goods inventory 12,892,309
inventories 22,117,615

Note 9: Property,Plant and Equipments

Land 8,980,751
Building 3,419,877
Accumulated depreciation-Bldg. -712,930
Equipment 917,387
Accumulated depreciation-Equipt. -234,125
Property,Plant and Equipments 12,370,960

Note 10: trade and other payables

Accounts Payable 9,071,239
Accrued Liabilities 889,712
Income tax Payable 721,346
Trade and other Payables 10,682,297

Note 11: Long term borrowings

Loans payable (due in 20x2) 8,000,000
Discount on loan payable -746,252
interest payable ( due on july 1, 20x2) 341,782
Long term borrowings 7,595,530

Note 12: Retained Earnings

Retained earnings - unrestricted 15,144,664
Retained earnings - appropriated 1,200,000
Retained Earnings 16,344,664
Note 13: other components of equity
revaluation surplus 873,984
unrealized gains on equity securities- FVOCI 123,412
Other components of equity 997,396