SIMPLE COMPANY
Statement of Financial Position
December 31, 2020

ASSETS

Note
Current assets:
Cash ₱420,000
Trade and other receivables (1) 870,000
Inventories (2) 1,250,000
Prepaid expenses (3) 20,000
Total current assets ₱2,560,000

Noncurrent assets:
Property, plant and equipment (4) ₱4,640,000
Long-term investments (5) 2,000,000
Intangible assets (6) 300,000

Total noncurrent assets ₱6,940,000

Total assets ₱9,500,000

LIABILITIES AND SHAREHOLDERS' EQUITY

Note
Current liabilities
Trade and other payables (7) ₱620,000

Noncurrent liabilities
Bonds payable ₱2,500,000

Shareholders' equity
Share capital ₱5,000,000
Reserves (8) 500,000
Retained earnings (deficit) 880,000
Total shareholders' equity ₱6,380,000

Total liabilities and shareholders' equity ₱9,500,000