Ferna Company

Statement of Financial Performance

For the Year Ended December 31, 2019
Sales P 2,800,000,000
Less: Cost of Goods Sold 1,100,000,000
Gross Profit 1,700,000,000
Less: Selling and Administrative Expenses
Administrative Expense 100,000,000
Depreciation Expense 203,000,000
Operating Income 1,397,000,000
Less: Interest Expense 190,000,000
Operating Income Before Tax 1,207,000,000
Less: Taxes 233,000,000
Net Income After Tax 974,000,000
 Ferna Company
Statement of Financial Position
As of December 31, 2019

ASSETS

Current Assets:
Cash P 100,000,000
Accounts Receivable 400,000,000
Inventory 600,000,000
Total Current Assets 1,100,000,000

Non-Current Assets:
Property Plant and Equipment 2,300,000,000
Less: Accumulated Depreciation 800,000,000 1,500,000,000
Total Non-Current Assets 1,500,000,000

TOTAL ASSETS 2,600,000,000

LIABILITIES AND OWNER’S EQUITY

LIABILITIES

Current Liabilities:
Accounts Payable P 100,000,000
Notes Payable 600,000,000
Total Current Liabilities 700,000,000

Non-Current Liabilities:
Long-Term Debts 1,100,000,000
Total Non-Current Liabilities 1,100,000,000

TOTAL LIABILITIES 2,033,000,000

OWNER’S EQUITY

Capital Surplus P 400,000,000

Common Stock 300,000,000
Retained Earnings 100,000,000

TOTAL OWNER’S EQUITY 800,000,000

TOTAL LIABILITIES AND OWNER’S EQUITY 2,600,000,000