Income Statement

As of year ending December 31, 2019

Diamond Quest Marketing Corporation

2019 2018

Sales 354,396,861 301,606,379

Cost of Sales 312,587,950 258,943,162
Gross Profit 41,808,911 42,663,217

Selling and Distribution Expenses 20,732,839 20,697,446

General and Administrative Expenses 17,274,573 16,126,430
Operating Expenses 38,007,412 36,823,876
Operating Income 3,801,499 5,839,341

Interest Expense 1,007,045 2,977,044

Interest Income
Income before Taxes 2,794,454 2,862,297
Income Tax Expense 838,336 858,689

Net Income 1,956,118 2,003,608

 Balance Sheet Statement
As of year ending December 31, 2019

Diamond Quest Marketing Corporation

2019 2018

Cash and Cash Equivalents 2,268,500 2,162,456

Account Receivables 20,536,159 67,290,305
Merchandise Inventory 12,131,843 5,202,048
Prepaid Expenses 4,538,950 4,231,794
Other assets 2,785,785
Current Assets 39,475,452 81,672,388

PPE 10,856,518 10,599,450

Less: Accumulated Depreciation 3,056,081 2,784,668
Non-current Assets 7,800,437 7,814,782

TOTAL ASSETS 47,275,889 89,487,170

Loans Payable 39,336,049 82,290,305

Account Payables 1,950,850 1,798,276
Income Tax Payable 838,336 315,642
Accrued Expenses 750,620 639,031
Advances from Stockholders - -
Dividends Payable 2,000,000 2,000,000
Total Current Liabilities 44,875,855 87,043,254

Other non-current liabilities

Total Non-current Liabilities - -

TOTAL LIABILITIES 44,875,855 87,043,254

Capital Stock 1,000,000 1,000,000

Beginning 1,443,916 1,440,308
Less: Cash Dividends -2,000,000 -2,000,000
Add: Net Income 1,956,118 2,003,608
Ending 1,400,034 1,443,916
TOTAL STOCKHOLDERS EQUITY 2,400,034 2,443,916
 Cash Flow Statement
As of year ending December 31, 2019

Diamond Quest Marketing Corporation

Sales 2,794,454
Add: Depreciation 271,412
Operating Income before working capital
changes 3,065,866

Decrease (increase) in:

Inventories - 6,929,795
Account Receivables 46,754,146
Prepaid Expenses - 307,156
Miscellaneous Deposit -
Other Assets 2,785,785
Increase (decrease) in:
Income Tax Payable 522,694
Loans Payable - 42,954,256
Accounts payable 152,574
Accrued Expenses 111,589
Net cash generated from Operations 3,201,447
Income Taxes - 838,336

NET CASH FROM OPERATING ACTIVITIES 2,363,111

CASH FLOW FROM INVESTING ACTIVITIES

Additions to Property and Equipment - 257,068
Decrease (increase) in other current assets -
Net cash provided by investing activities - 257,068

CASH FLOW FROM FINANCING ACTIVTIES

Deposit account
Dividends paid - 2,000,000
Advances from stockholders -
Net cash provided by Financing Activities - 2,000,000

NET INCREASE IN CASH 106,044

Beginning Cash 2,162,456

Ending Cash 2,268,500

 Statement of Changes in Equity
As of year ending December 31, 2019

Diamond Quest Marketing Corporation

2019 2018

Capital Stock 1,000,000 1,000,000

Retained Earnings
Beginning 1,443,916 1,440,308
Less: Cash Dividends -2,000,000 -2,000,000
Add: Net Income 1,956,118 2,003,608
Ending 1,400,034 1,443,916

TOTAL STOCKHOLDER'S EQUITY 2,400,034 2,443,916