Dr. Nick Marasigan, M.D.

Income Statement
For the Month Ended Ooctober 30, 2010

Revenues
Medical Revenues P 434,000.00
Research Revenues 30,000.00
Total P 464,000.00

Expenses
Salaries Expense P 124,000.00
Supplies Expense 35,000.00
Interest Expense 28,000.00
Repairs Expense 23,000.00
Association Dues Expense 15,000.00
Depreciation Exppense-Medical Equipment 9,000.00
Depreciation Exppense-Medical Building 5,000.00
Telephone Expense 3,000.00
Insurance Expense 1,667.67
Total 243, 666.67

Profit P 220,333.33
 Dr. Nick Marasigan, M.D.
Statement of Changes in Equity
For the Month Ended October 30, 2010

Marasigan, Owner's Equity

Add: Aditional Investment by Marasigan P 0
Profit 220,333.33
Total
Less: Withdrawals
Marasigan, Owner's Equity, October 30, 2010
P 250,000.00

220,333.33
470,333.33
200,000.00
P 270,333.33
 Dr. Nick Marasigan, M.D.
Balance Sheet
October 30, 2010

Assets

Current Assets
Cash P 114,000.00
Accounts Receivable 204,000.00
Medical Supplies 21,000.00
Prepaid Insurance 18,333.33
Total Current Assets

Non-Current Assets
Land
Medical Building 1,000,000.00
Less: Accumulated Depreciation-Building 5,000.00
Medical Equipment 465,000.00
Less: Accumulated Depreciation-Equipment 9,000.00
TOTAL ASSETS:

LIABILITIES

Current Liabilities
24% Notes Payable
20% NotesPayable
Accounts Payable
Salaries Payale
Interest Payable
Unearned Research Revenues
Total Current Liabilities

Owner's Equity

Marasigan, Capital, Oct. 30, 2010

Total Liabilities and Owner's Equity
P 357,333.33

250,000.00

995,000.00

456,000.00 1,701,000.00
P 2, 058, 333.33

P 400,000.00
1,200,000.00
49,000.00
51,000.00
28,000.00
60,000.00
P 1,788,000.00

270,333.33
P 2, 058,333.33