HAPPY ME SERVICES

STATEMENT OF FINANCIAL POSITION

As of December 31, 2018
Notes 2018
ASSETS
Current assets
Cash and cash equivalents 6 P2,117,510
Trade and other receivables 7 1,129,479
Total current asset 3,246,989
Noncurrent assets
Property, plant and equipment 8 464,000
Prepaid insurance 6,750
Prepaid rent 11,500
Total noncurrent assets 482,250
Total Assets 3,729,239
LIABILITIES AND EQUITY
Current liabilities
Income tax due 18,945
Total current liabilities 18,945
Noncurrent liabilities
Long-term borrowings 11 2,000,000
Total noncurrent liabilities 2,000,000
Total liabilities 2,018,945
Equity
Investment in associates 1,000,000
Geraldine, capital 2,649,510
Geraldine, Drawing -175,000
Total Equity 3,474,510
Total Liabilities and equity
SITION
8
2017

P1,346,388
1,030,591
2,376,979

464,000
6,000
11,000
481,000
2,857,979

23,805
23,805

2,000,000
2,000,000
2,018,945

1,000,000
2,649,510
-410,000
3,239,510
 HAPPY ME SERVICES
Statement of profit or loss and other comprehensive
For the year ended December 31, 2018

Service income
Other income
Less: Expenses
Salaries expense
Utilities expense
Interest expense
Rent expense
Insurance expense
Depreciation expense
Doubtful accounts expense
Profit before tax
Income tax expense
Profit for the year
TOTAL COMPREHENSIVE INCOME FOR THE REAR
PY ME SERVICES
ss and other comprehensive income
nded December 31, 2018
2018 2017
P1,950,300 P1,819,100
10,000 10,000

622,081 617,500
469,119 405,597
200,000 200,000
138,000 132,000
81,000 72,000
108,000
24,303
450,000 269,700
209,915 188,650
240,085 81,050
240,085 81050
 HAPPY ME SERVICES
Statement of cash flow
For the year ended December 31, 2018
2018
Cash from operating activities
Cash receipt from customer P117,510
Net cash from operating activitiP117,510
Net cash used in ivesting activity
Cash flow from financing activity
Loan 2,000,000
Net cash from financing activity 2000000
Cash and Cash equivalents, endP2,117,510
 CES
h flow
mber 31, 2018
2017

P141,388
P141,388

1,205,000
1205000
P1,346,388