TREN Corporation

Comparative Statement of Financial Position

December 31, 2015
(In thousand pesos)

Assets 2015 2014

Current assets
Cash and cash equivalents P 24,890 P 2,120
Held for trading 10,000
Trade and other receivables 16,000 6,000

Inventory 8,960 10,600

Total current assets P 59,850 P 18,720

Non-current assets
Property, plant and equipment P 150,000 P 161,280
Investment in equity securities 16,000 20,000
Total non-current assets 166,000 181,280
TOTAL ASSETS P 225,850 P 200,000

Liabilities
Current liabilities
Trade and other payables P 8,400 P 3,350
Unearned revenues 10,600 11,650
Notes payable – current 900 600
Total current liabilities P 19,900 P 15,600

Non-current liabilities
Notes payable - non-current P 73,550 P 100,000
Total liabilities P 93,450 P 115,600

Shareholder’s equity
Ordinary shares, P100 par P 80,000 P 60,000
Premium on ordinary shares 16,000 10,000
Total pain-in capital P 96,000 P 70,000

Retained earnings P 36,400 P 14,400

Total shareholder’s equity P 132,400 P 84, 400
TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY P 225,850 P 200,000

TREN Corporation
Comparative Income Statement
December 31, 2015
(In thousand pesos)
2015 2014
Sales P 500,000 P 408,000
Less: Sales Discount 20,000 8,000
Net Sales P 480,000 P 400,000
Less: Cost of Goods Sold 364,000 280,000
Gross Income 116,000 120,000
Add: Other Income 15,000 9,600
Total Income P 131,000 P 129,600
Less: Other Expenses 12,400
Finance Costs (interest) 14,400 19,000
Total Expenses P 26,800 19,000
Net Income Before Taxes P 104,200 P 110,600
Less: Income Tax 32,334 35,392
Net Income After Taxes P 71,866 P 75,208