Batangas Product Trader

Income Statement
For the Period Ended November 30, 2021

Net Sales
Sales 266,560
Less: Sales Return and Allowances 11,700
Sales Discounts 3,600
Net Sales 251,260
Cost of Sales
Merchandise Inventory, Nov 1,2021 50,000
Purchases 137,800
Less: Purchases Return and Allowances 4,500
Purchase Discount 600
Net Purchases 132,700
Freight In 2,400
Net Cost of Purchases 135,100
Goods Available for Sale 185,100
Less: Merchandise Inventory, Nov 30, 2021 102,400
Cost of Sales 82,700
Gross Profit 168,560
Rental Income 2,000
Interest Income 15
Total Revenue 170,575
Operating Expenses
Advertising Salaries 5,000
Sales Salaries 24,000
Freight Out 3,120
Depreciation Delivery Van 7,000
Impairment Loss 1,410
Office Salaries 33,000
Rent Expense 15,000
Insurance Expense 2,000
Office Supplies Expense 1,000
Taxes and Licenses Expense 1,260
Light and Water Expense 20,500
Depreciation Expense Office Equipment 1,025
Depreciation Expense Furn and Fixture 330
Interest Expense 20 114,665
Profit 55,910
 Batangas Product Trader
Statement of Changes in Equity Sta
For the Period Ended November 30, 2021

Batangas Trader Capital, Nov 1, 2021 625,000 Currents Asset

Add: Profit 55,910 Cash
Total 680,910 Notes Receivable
Less: Batangas Trader Drawings 22,000 Accounts Receivable
Batangas Trader Capital, Nov 30, 2021 658,910 Allo for Impairment Lo
Interest Receivable
Prepaid Rent
Prepaid Advertising
Prepaid Insurance
Supplies Inventory
Merchandise Inventor
Total Current Asset
Noncurrent Asset
Delivery Van
Accum Depreciation - D
Office Equipment
Accum Depreciation - O
Furniture and Fixture
Accum Depreciation - F
Total Noncurrent Asset
Total Asset

Li
Current Liabilities
Accounts Payable
Notes Payable
Interest Payable
Unearned Rental Income
Total Current Liabilities
Noncurrent Liabilities
Loan payable - long term
Total Liabilities

Batangas Trader Capital, N

Total Liabilities and Owner
 Batangas Product Trader
Statement of Financial Position
As of November 30, 2021
Assets
Currents Asset
502,030
Notes Receivable 6,000
Accounts Receivable 51,500
Allo for Impairment Loss -1,410
Interest Receivable 15
Prepaid Rent 30,000
Prepaid Advertising 5,000
Prepaid Insurance 22,000
Supplies Inventory 250
Merchandise Inventory 102,400
Total Current Asset 717,785
Noncurrent Asset
Delivery Van 850,000
Accum Depreciation - Del Van -7,000
Office Equipment 125,000
Accum Depreciation - Office Equipment -1,025
Furniture and Fixture 40,000
Accum Depreciation - Fur and Fixture -330
Total Noncurrent Asset 1,006,645
1,724,430

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable 855,500
Notes Payable 8,000
Interest Payable 20
Unearned Rental Income 2,000
Total Current Liabilities 865,520
Noncurrent Liabilities
Loan payable - long term 200,000
Total Liabilities 1,065,520
Owner's Equity
Batangas Trader Capital, Nov 30, 2021 658,910
Total Liabilities and Owner's Equity 1,724,430
 Batangas Product Trader Ba
Vertical Analysis of Income Statement Vertical Analysi
November 30, 2021 N
Amount 2021 CS
Net Sales 251,260 100.00% Batangas Trader Capital, N
Less: Cost of Goods Sold 82,700 32.91% Add: Profit
Gross Profit 168,560 67.10% Total
Add: Other Income 2,015 0.80% Less: Batangas Trader Draw
Revenues 170,575 67.89% Batangas Trader Capital, N
Less: Operating Expenses 114,665 45.64%
Net Income 55,910 22.25%
 Batangas Product Trader Batangas Pro
Vertical Analysis of Statement of Changes in Equity Statement of Fi
November 30, 2021 As of Novem
Amount 2021 CS Ass
Batangas Trader Capital, Nov 1, 2021 625,000 94.85%
55,910 8.50% Cash
680,910 103.34% Notes Receivable
Less: Batangas Trader Drawings 22,000 33.34% Accounts Receivable
Batangas Trader Capital, Nov 30, 2021 658,910 100.00% Allo for Impairment Loss
Interest Receivable
Prepaid Rent
Prepaid Advertising
Prepaid Insurance
Supplies Inventory
Merchandise Inventory
Delivery Van
Accum Depreciation - Del Van
Office Equipment
Accum Depreciation - Office Equipm
Furniture and Fixture
Accum Depreciation - Fur and Fixtu
Total Asset

Liabilities and

Accounts Payable
Notes Payable
Interest Payable
Unearned Rental Income
Loan payable - long term
Batangas Trader Capital, Nov 30, 202
Total Liabilities and Owner's Equity
 Batangas Product Trader
Statement of Financial Position
As of November 30, 2021
Assets
Amount 2021 CS
502,030 29.11%
6,000 0.35%
Receivable 51,500 2.10%
mpairment Loss -1,410 -0.08%
Receivable 15 0.00%
30,000 1.74%
5,000 0.30%
22,000 1.28%
250 0.00%
dise Inventory 102,400 5.94%
850,000 49.30%
epreciation - Del Van -7,000 -0.41%
125,000 7.25%
epreciation - Office Equipment -1,025 0.06%
and Fixture 40,000 2.32%
epreciation - Fur and Fixture -330 0.02%
1,724,430 100.00%

Liabilities and Owner's Equity

855,500 49.61%
8,000 0.46%
20 0.00%
Rental Income 2,000 0.12%
ble - long term 200,000 12.00%
rader Capital, Nov 30, 2021 658,910 38.21%
es and Owner's Equity 1,724,430 100.00%
Profitability Ratios
1. Gross Profit Margin 2. Net Profit Margin
Formula: Formula:
Gross Profit/Sales x 100 = Gross Profit Margin Net Income/Sales x 100 = Net Profit Margin
168,560/266,560 x 100 = 63.24% 55,910/266,560 x 100 = 20.97%

Liquidity Ratios
1. Current Ratio 2. Liquid Ratio
Formula: Formula:
Current Assets/Current Liabilities = Current Ratio Liquid Assets/Current liabilities = Liquid Ratio
717,785/865,520 x 100 = 82.93% 615,385/865,520 x 100 = 71.10%

Stability Ratios
1. Debt Ratio 2. Debt to Equity Ratio
Formula: Formula:
Total liabilities/total assets = debt ratio Total Liabilities/Equity = Debt Equity Ratio
1,065,520/1,724,430 x 100 = 61.79% 1,065,520/658,910 = 1.62
3. Return on Assets
Formula:
Net Income/Assets x 100 =Return on Assets
55,910/1,724,430 x 100 = 3.24%

3. Cash Ratio
Formula:
Cash Assets/Current Liabilities = Cash Ratio
502,030/865,520 x 100 = 58%

3. Time Interest Earned Ratio

Formula:
Earnings before interest and taxes/interest expense
55,910/20 = 2,795.50