UNADJUSTED BAL.

AS OF
DEC. 31, 2019

CURRENT ASSETS:
1. CASH & CASH EQUIVALENTS 3,412,174.16
CASH IN BANK 3,312,174.16
REVOLVING FUND 100,000.00

2. TRADE & OTHER RECEIVABLES 9,249,198.55

ADVANCES TO OFFICERS & EMPLOYEES 1,039,730.92
TRADE RECEIVABLES 8,209,467.63

FINANCIAL ASSET AT FV THROUGH OCI 5,100,000.00

FINANCIAL ASSET AT FV THROUGH P & L 1,333,000.00

3. INVENTORIES 5,582,424.62
INVENTORY 5,066,911.22
SPARE PARTS & SUPPLIES 515,513.40

4. PREPAID 137,248.89
OFFICE SUPPLIES 87,798.89
PREPAID INSURANCE 16,450.00
PREPAID RENT 33,000.00

INPUT TAX ASSET 3,939.65

OTHER ASSETS 101,169.60

5. PROPERTY PLANT & EQUIPMENT 35,302,067.26

PPE-BUILDING 18,818,602.00
PPE-FURNITURES & FIXTURES 1,011,238.59
PPE-LAND (AT REVALUED AMOUNT) 12,240,000.00
PPE-MACHINE & EQUIPMENT 2,074,294.27
PPE-OFFICE EQUIPMENT 206,712.82
TRANSPORTATION EQUIPMENT 8,837,319.18
TOTAL PPE 43,188,166.86
6. LESS: ACCUMULATED DEPRECIATION 7,886,099.60

6. ACCUMULATED DEPRECIATION 7,886,099.60

ACCULMULATED DEPRECIATION-BLDG 409,300.57
ACCULMULATED DEPRECIATION-F & F 1,011,238.59
ACCULMULATED DEPRECIATION-M & E 849,213.96
ACCULMULATED DEPRECIATION-OE 148,202.78
ACCULMULATED DEPRECIATION-TE 5,468,143.70

DEFERRED INPUT TAX ON CAPITAL GOODS 259,980.83

7. TRADE & OTHER PAYABLES 4,958,699.38
TRADE PAYABLES 3,777,320.87
INCOME TAX PAYABLE 92,587.00
ACCRUED EXPENSES 1,029,483.00
EXPANDED WITHOLDING TAX PAYABLE 2,982.30
PAG-IBIG LOANS PAYABLE 2,222.16
PAG-IBIG PREMIUM PAYABLE 9,910.48
PHILHEALTH PREMIUM PAYABLE 6,125.00
SSS LOAN PAYABLE 3,237.50
SSS PREMIUM PAYABLE 25,364.00
WITHHOLDING TAX PAYABLE 9,467.07

SHORT TERM LOAN PAYABLE 3,000,000.00

8. LONG TERM LOAN 17,500,000.00

LONG TERM LOAN 20,000,000.00
CURRENT PORTION OF LONG TERM LOAN (2,500,000.00)

9. OTHER NON CURRENT LIABILITIES 7,002,232.80

ADVANCES FROM AFFFILIATES 502,232.80
ADVANCES FROM STOCKHOLDERS 6,500,000.00

PAID UP CAPITAL STOCKS 12,000,000.00

APPROPRIATED R/E 3,000,000.00

UNAPPRIATED RETAINED EARNINGS -

UNADJUSTED BAL. AS OF
DEC. 31, 2019

SALES 103,531,795.17

10. COST OF GOODS SOLD 87,603,816.32

BGEGINNING INVTY 3,726,776.36
PURCHASES 88,943,951.18
ENDING INVENTORY (5,066,911.22)

INTERREST INCOME 3,421.35

UNREALIZED LOSS ON FAIR VALUE THROUGH P & L (75,000.00)
11. DISTRIBUTION COST 1,712,703.90
ADS & PROMO 29,382.61
FREIGHT & HANDLING 465,590.83
GASOLINE, OIL & LUBRICANTS 1,217,730.46

12. ADMINISTRATIVE EXPENSES 8,719,487.27

UTILITIES 937,263.68
SECURITY SERVICES 131,017.92
TAXES, PERMITS & LICENSES 229,656.61
BANK CHARGES 25,342.78
CHRISTMAS EXP. & GIVE-AWAYS 520,324.27
COMMUNICATION 278,384.47
SALARIES & WAGES 3,037,722.40
TRANSPORTAION & TRAVEL 714,438.10
INSURANCE 50,320.55
LABOR 43,650.00
MANAGEMENT FEES & PROFFESSIONAL FEE 66,071.44
MISCELLANEOUS 13,849.48
DEPRECIATION EXPENSE 1,662,076.83
EMPLOYEES BENEFITS 533,478.52
REPRESENTATION & ENTERTAINMENT 475,890.22

13. FINANCE COST

INTEREST EXPENSE 97,861.11

INCOME TAX EXPENSE 1,256,076.54

UNREALIZED GAIN ON FAIR VALUE AT OCI 1,450,000.00

REVALUATION SURPLUS 5,000,000.00

UNADJUSTED BAL. AS OF
DEC. 31, 2020

7,199,792.89
7,099,792.89
100,000.00

7,970,513.01
541,385.35
7,429,127.66

6,500,000.00
1,213,000.00

2,855,479.07
2,375,893.72
479,585.35

150,199.55
80,549.55
24,650.00
45,000.00

501,551.75
101,169.60

39,375,597.44
18,818,602.00
1,011,238.59
14,740,000.00
2,596,615.70
206,712.82
12,356,962.04
49,730,131.15
10,354,533.71

10,354,533.71
491,160.86
1,011,238.59
1,513,932.92
173,314.38
7,164,886.96

419,091.88
 3,531,386.88
2,249,012.23
109,956.00
675,961.25
7,788.03
3,704.61
19,660.00
7,900.00
922.90
29,962.00
426,519.86

2,000,000.00

15,000,000.00
18,500,000.00
(3,500,000.00)

8,380,123.94
3,380,123.94
5,000,000.00

15,000,000.00

4,000,000.00

2,466,959.09

UNADJUSTED BAL. AS OF
DEC. 31, 2020

99,959,726.57

79,533,133.45
5,066,911.22
76,842,115.95
(2,375,893.72)

5,788.10
(120,000.00)
 1,398,912.50
7,605.00
366,267.80
1,025,039.70

13,689,728.15
1,039,045.86
182,562.50
1,187,946.86
8,044.96
514,450.65
130,624.95
5,951,740.43
411,924.35
89,735.81
56,375.00
555,714.30
4,392.66
2,468,434.12
659,170.35
429,565.35

70,844.29

1,319,971.00

1,075,000.00

7,500,000.00
 UNADJUSTED BAL. AS OF UNADJUSTED BAL. AS OF
DEC. 31, 2020 DEC. 31, 2019

ACCRUED EXPENSES 675,961.25 1,029,483.00

ACCULMULATED DEPRECIATION-BLDG 491,160.86 409,300.57
ACCULMULATED DEPRECIATION-F & F 1,011,238.59 1,011,238.59
ACCULMULATED DEPRECIATION-M & E 1,513,932.92 849,213.96
ACCULMULATED DEPRECIATION-OE 173,314.38 148,202.78
ACCULMULATED DEPRECIATION-TE 7,164,886.96 5,468,143.70
ADS & PROMO 7,605.00 29,382.61
ADVANCES FROM AFFFILIATES 3,380,123.94 502,232.80
ADVANCES FROM STOCKHOLDERS 5,000,000.00 6,500,000.00
ADVANCES TO OFFICERS & EMPLOYEES 541,385.35 1,039,730.92
APPROPRIATED R/E 4,000,000.00 3,000,000.00
BANK CHARGES 8,044.96 25,342.78
BGEGINNING INVTY 5,066,911.22 3,726,776.36
CASH IN BANK 7,099,792.89 3,312,174.16
CHRISTMAS EXP. & GIE-AWAYS 514,450.65 520,324.27
COMMUNICATION 130,624.95 278,384.47
DEFERRED INPUT TAX ON CAPITAL GOODS 419,091.88 259,980.83
DEPRECIATION EXPENSE 2,468,434.12 1,662,076.83
EMPLOYEES BENEFITS 659,170.35 533,478.52
EXPANDED WITHOLDING TAX PAYABLE 7,788.03 2,982.30
FINANCIAL ASSET AT FV THROUGH OCI 6,500,000.00 5,100,000.00
FINANCIAL ASSET AT FV THROUGH P & L 1,213,000.00 1,333,000.00
FREIGHT & HANDLING 366,267.80 465,590.83
GASOLINE, OIL & LUBRICANTS 1,025,039.70 1,217,730.46
INCOME TAX EXPENSE 1,319,971.00 1,256,076.54
INCOME TAX PAYABLE 109,956.00 92,587.00
INPUT TAX ASSET 501,551.75 3,939.65
INSURANCE 89,735.81 50,320.55
INTEREST EXPENSE 70,844.29 97,861.11
INTERREST INCOME 5,788.10 3,421.35
LABOR 56,375.00 43,650.00
LONG TERM LOAN 18,500,000.00 20,000,000.00
MANAGEMENT FEES & PROFFESSIONAL FEE 555,714.30 66,071.44
MISCELLANEOUS 4,392.66 13,849.48
OFFICE SUPPLIES 80,549.55 87,798.89
OTHER ASSETS 101,169.60 101,169.60
PAG-IBIG LOANS PAYABLE 3,704.61 2,222.16
PAG-IBIG PREMIUM PAYABLE 19,660.00 9,910.48
PAID UP CAPITAL STOCKS 15,000,000.00 12,000,000.00
PHILHEALTH PREMIUM PAYABLE 7,900.00 6,125.00
PPE-BUILDING 18,818,602.00 18,818,602.00
PPE-FURNITURES & FIXTURES 1,011,238.59 1,011,238.59
PPE-LAND (AT REVALUED AMOUNT) 14,740,000.00 12,240,000.00

120,435,379.06 104,329,614.58

PPE-MACHINE & EQUIPMENT 2,596,615.70 2,074,294.27

PPE-OFFICE EQUIPMENT 206,712.82 206,712.82
PREPAID RENT 45,000.00 33,000.00
PREPAID INSURANCE 24,650.00 16,450.00
PURCHASES 76,842,115.95 88,943,951.18
REPRESENTATION & ENTERTAINMENT 429,565.35 475,890.22
REVALUATION SURPLUS 7,500,000.00 5,000,000.00
REVOLVING FUND 100,000.00 100,000.00
SALARIES & WAGES 5,951,740.43 3,037,722.40
SALES 99,959,726.57 103,531,795.17
SECURITY SERVICES 182,562.50 131,017.92
SHORT TERM LOAN PAYABLE 2,000,000.00 3,000,000.00
SPARE PARTS & SUPPLIES 479,585.35 515,513.40
SSS LOAN PAYABLE 922.90 3,237.50
SSS PREMIUM PAYABLE 29,962.00 25,364.00
TAXES, PERMITS & LICENSES 1,187,946.86 229,656.61
TRADE PAYABLES 2,249,012.23 3,777,320.87
TRADE RECEIVABLES 7,429,127.66 8,209,467.63
TRANSPORTAION & TRAVEL 411,924.35 714,438.10
TRANSPORTATION EQUIPMENT 12,356,962.04 8,837,319.18
UNAPPRIATED RETAINED EARNINGS 2,466,959.09 -
UNREALIZED GAIN ON FAIR VALUE AT OCI 1,075,000.00 1,450,000.00
UNREALIZED LOSS ON FAIR VALUE THROUGH P & L 120,000.00 75,000.00
UTILITIES 1,039,045.86 937,263.68
WITHHOLDING TAX PAYABLE 426,519.86 9,467.07

ENDING INVENTORY 2,375,893.72 5,066,911.22

CURRENT PORTION OF LONG TERM LOAN 3,500,000.00 2,500,000.00

230,987,551.24 238,901,793.24

351,422,930.30 343,231,407.82
 EGM COMPANY
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2019

Paid up Capital Reserves

Statement of changes in equity
Paid up Capital 12,000,000.00
Comprehensive Income
Net Income
OCI 6,450,000.00
Unappropriate Retained earnings
Appropriate Retained Earnings 3,000,000.00
BALANCE - DECEMBER 31, 2019 12,000,000.00 9,450,000.00

EGM COMPANY
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2020

Paid up Capital Reserves

Statement of changes in equity
Paid up Capital 15,000,000.00
Comprehensive Income
Net Income
OCI 8,575,000.00
Unappropriate Retained earnings
Appropriate Retained Earnings 4,000,000.00
BALANCE - DECEMBER 31, 2020 15,000,000.00 12,575,000.00
Retained earnings

4,070,271.38

4,070,271.38

Retained earnings

3,832,925.28

2,466,959.09

6,299,884.37
 EGM COMPANY
STATEMENT OF FINACIAL POSITION
FOR THE YEAR ENDED DECEMBER 31, 2019 & 2020

UNADJUSTED BAL.
AS OF DEC. 31, UNADJUSTED BAL.
2019 AS OF DEC. 31, 2020

ASSETS
CURRENT ASSETS
CASH & CASH EQUIVALENTS 1 3,412,174.16 7,199,792.89
TRADE & OTHER RECEIVABLES 2 9,249,198.55 7,970,513.01
FINANCIAL ASSET AT FV THROUGH OCI 5,100,000.00 6,500,000.00
FINANCIAL ASSET AT FV THROUGH P & L 1,333,000.00 1,213,000.00
INVENTORIES 3 5,582,424.62 2,855,479.07
PREPAID 4 137,248.89 150,199.55
INPUT TAX ASSET 3,939.65 501,551.75
OTHER ASSETS 101,169.60 101,169.60
TOTAL CURRENT ASSETS 24,919,155.47 26,491,705.87

NON CURRENT ASSETS

PROPERTY PLANT & EQUIPMENT 5 35,302,067.26 39,375,597.44
DEFERRED INPUT TAX ON CAPITAL GOODS 259,980.83 419,091.88
TOTAL NON CURRENT ASSETS 35,562,048.09 39,794,689.32

TOTAL ASSETS 60,481,203.56 66,286,395.19

LIABILITIES & EQUITIES

CURRENT LIABILITY
TRADE & OTHER PAYABLES 7 4,958,699.38 3,531,386.88
SHORT TERM LOAN PAYABLE 3,000,000.00 2,000,000.00
CURRENT PORTION OF LONG TERM LOAN 8 2,500,000.00 3,500,000.00
TOTAL CURRENT LIABILITIES 10,458,699.38 9,031,386.88

NON CURRENT LIABILITIES

LONG TERM LOAN 17,500,000.00 15,000,000.00
OTHER NON CURRENT LIABILITIES 9 7,002,232.80 8,380,123.94
TOTAL NON CURRENT LIABILITIES 24,502,232.80 23,380,123.94

TOTAL LIABILITIES 34,960,932.18 32,411,510.82

SHAREHOLDERS EQUITY
PAID UP CAPITAL STOCKS 12,000,000.00 15,000,000.00
Reserves 9,450,000.00 12,575,000.00
 Retained Earnings-Net income 4,070,271.38 6,299,884.37
TOTAL SHAREHOLDERS EQUITY 25,520,271.38 33,874,884.37

TOTAL LIABILITIES & SHAREHOLDERS EQUITY 60,481,203.56 66,286,395.19

 EGM COMPANY
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED DEC.31, 2019 & 2020

UNADJUSTED BAL. AS OF
DEC. 31, 2019

REVENUE
SALES 103,531,795.17
LESS: COST OF GOODS SOLD 10 87,603,816.32
GROSS INCOME 15,927,978.85
INTERREST INCOME 3,421.35
UNREALIZED LOSS ON FAIR VALUE THROUGH P & L (75,000.00)
TOTAL INCOME 15,856,400.20

EXPENSES
DISTRIBUTION COST 11 1,712,703.90
ADMINISTRATIVE EXPENSES 12 8,719,487.27
FINANCE COST 13 97,861.11
TOTAL EXPENSES 10,530,052.28

INCOME BEFORE TAX 5,326,347.92

LESS: INCOME TAX EXPENSE (1,256,076.54)
NET INCOME 4,070,271.38

REVALUATION SURPLUS 5,000,000.00

UNREALIZED GAIN ON FAIR VALUE AT OCI 1,450,000.00
COMPREHENSIVE INCOME 6,450,000.00
UNADJUSTED BAL. AS OF
DEC. 31, 2020

99,959,726.57
79,533,133.45
20,426,593.12
5,788.10
(120,000.00)
20,312,381.22

1,398,912.50
13,689,728.15
70,844.29
15,159,484.94

5,152,896.28
(1,319,971.00)
3,832,925.28

7,500,000.00
1,075,000.00
8,575,000.00