2CM CONSTRUCTION

Proprietor: FAUZIMAR ALBANI USMAN

Sinunuc, Zamboanga City
TIN: 332-515-944-000

STATEMENT OF COMPREHENSIVE INCOME

For the year ended December 31, 2022

(Amounts in Philippine Peso) 2022 Feb 15, 2022

Revenue 13,388,392.86 -
Less: Construction cost 12,009,441.96 -
Gross profit 1,378,950.89 -
Less: Operating expenses 188,825.00 -
Net income before tax 1,190,125.89 -
Less: Provision of income tax 247,037.77 -
Net income after tax 943,088.13 -
 2022 2021
Construction costs
Materials and supplies 8,033,035.71
Salaries and wages 2,830,406.25
Overhead 1,146,000.00
Total 12,009,441.96

Operating expenses
Fuel and oil 42,550.00
Miscellaneous 45,000.00
Office supplies 11,236.00
Professional fees 15,000.00
Repair and maintenance 14,000.00
Taxes and licenses 25,789.00
Trainings and seminars -
Transportation 35,250.00
Depreciation (treated as direct-overhead cost)
Total 188,825.00

Income tax
NIBT 1,190,125.89
Tax on excess of 800k (30%) 117,037.77
Tax on 800k 130,000.00
Income tax 247,037.77
Creditable wt 267,767.86
IT to be paid in ITR (20,730.09)
USF CONSTRUCTION AND HARDWARE TRADING
Proprietor: NADZRIMAR ALBANI USMAN
Sinunuc, Zamboanga City
TIN: 713-899-878-000

Computation of VAT still payable

For the year ended December 31, 2022

16A Sales to government 12,507,569.21

16B Output tax due for the quarter 1,500,908.31
19A Total sales/receipts 12,507,569.21
19B Total output tax due 1,500,908.31

Less: Allowable input tax

21E Domestic Purchases 7,172,353.32
21I Domestic Purchases of Services 1,500,000.00
21F Domestic Purchases (input) 860,682.40
21J Domestic Purchases of Services (input) 180,000.00
21P Total current purchases 8,672,353.32
22 Total available input taxes 1,040,682.40

24 Total allowable input tax 1,040,682.40

25 Net VAT payable 460,225.91

Less: Tax credits/payments

26B Creditable VAT withheld 450,350.60
26H Total tax credits/payments 450,350.60

27 Tax still payable 9,875.30

2CM CONSTRUCTION
Proprietor: FAUZIMAR ALBANI USMAN
Sinunuc, Zamboanga City
TIN: 332-515-944-000

STATEMENT OF CHANGES IN OWNER'S EQUITY

For the year ended December 31, 2022

(Amounts in Philippine Peso) 2022 Feb 15, 2022

FA Usman Capital, beg 3,601,387.00 3,601,387.00
Add: Net income 943,088.13
Additional investment -
Total 4,544,475.13 3,601,387.00
Less: Drawings - -
FA Usman Capital, end 4,544,475.13 3,601,387.00
2CM CONSTRUCTION
Proprietor: FAUZIMAR ALBANI USMAN
Sinunuc, Zamboanga City
TIN: 332-515-944-000

STATEMENT OF FINANCIAL POSITION (Detailed)

As of December 31, 2022

(Amounts in Philippine Peso) 2022 Feb 15, 2022

ASSETS
Current assets
Cash on hand 200,000.00
-

Cash in bank - PNB 4,083,745.04 3,301,387.00

Cash and cash equivalents 4,283,745.04 3,301,387.00

Inventory - -
Tax withheld at source 267,767.86 -
Total current assets 4,551,512.89 3,301,387.00
Noncurrent assets
Property, plant and equipment
Land
Building - -
Construction and heavy equipment 300,000.00 300,000.00
Total PPE 300,000.00 300,000.00
Less: Accumulated depreciation 60,000.00 -
Net book value 240,000.00 300,000.00
Total noncurrent assets 240,000.00 300,000.00
Total assets 4,791,512.89 3,601,387.00

LIABILITIES & OWNER'S EQUITY

Current liablities
Accounts payable-trade - -
Income tax payable 247,037.77 -
Noncurrent liabilities
Loans payable - -
Total liabilities 247,037.77 -
Owner's equity
FA Usman capital 4,544,475.13 3,601,387.00
Total liabilities and owner's equity 4,791,512.89 3,601,387.00
Depreciation Schedule 2022
NFS Roller Compactor C-Pow Jan 1, 2022
AC 300,000.00
Salvage value -
Accumulated depreciation, beg -
Depreciable amount 300,000.00 Total depreciation for the year 60,000.00
Divided by: EUL in years 5.00 Accum depreciation, end 60,000.00
Annual depreciation 60,000.00
2CM CONSTRUCTION
Proprietor: FAUZIMAR ALBANI USMAN
Sinunuc, Zamboanga City
TIN: 332-515-944-000

STATEMENT OF CASH FLOW

For the year ended December 31, 2022

(Amounts in Philippine Peso) 2022 Feb 15, 2022

Cash flows from operating activities
Net income 943,088.13 -
Adjustment to reconcile net income to net cash provided(used)
by operating activities
Depreciation 60,000.00 -
Changes in assets, decrease(increase)
Inventory - -
Tax withheld at source (267,767.86) -
Changes in liabilities, increase(decrease)
Income tax payable 247,037.77 -
Net cash provided by operating activities 982,358.04 -

Cash flows from investing activities

Acquisition of property and equipment - -
Net cash provided by investing activities - -

Cash flows from financing activities

Additional/Initial capital - 3,301,387.00
Drawings - -
Net cash provided by financing activities - 3,301,387.00
Net increase(decrease) in cash and cash equivalents 982,358.04 3,301,387.00
Add: Cash and cash equivalents, beg 3,301,387.00 -
Cash and cash equivalents, end 4,283,745.04 3,301,387.00
 WT Summary 2306 2307
Return Period Payment Received 3% VAT 2% IT Payment Remarks
12/2021 12/22/2022 92,828.03 61,885.35 3,094,267.69 Not yet credited
12/2021 3/9/2022 75,000.00 50,000.00 2,500,000.00 Not yet credited
03/2022 4/7/2022 61,885.35 41,256.90 2,062,845.13 Not yet credited
06/2022 6/24/2022 123,770.71 85,513.25 4,125,690.25 Not yet credited
09/2022 9/28/2022 92,828.06 61,885.37 3,094,268.68 Not yet credited
11/2022 12/5/2022 4,038.45 2,692.30 134,614.88 Not yet credited

450,350.60 303,233.17 15,011,686.63

 WT Summary 2307 2307
Return Period Payment Received 5% VAT 2% IT Payment Remarks

Municipal
Government of
11/2022 2,108,671.88 Lugus 100,412.95 40,165.18 2,249,250.00 Not yet credited

Municipal
Government of
11/2022 2,811,562.50 Lugus 133,883.93 53,553.57 2,999,000.00

Municipal
Government of
11/2022 9,137,578.13 Lugus 435,122.77 174,049.11 9,746,750.00

14,057,812.50 669,419.64 267,767.86 14,995,000.00

2CM CONSTRUCTION
Proprietor: FAUZIMAR ALBANI USMAN
Sinunuc, Zamboanga City
TIN: 332-515-944-000

Computation of VAT still payable

For the year ended December 31, 2022

16A Sales to government 13,388,392.86

16B Output tax due for the quarter 1,606,607.14
19A Total sales/receipts 13,388,392.86
19B Total output tax due 1,606,607.14

Less: Allowable input tax

21E Domestic Purchases 8,033,035.71
21F Domestic Purchases (input) 963,964.29
21P Total current purchases 8,033,035.71
22 Total available input taxes 963,964.29

24 Total allowable input tax 963,964.29

25 Net VAT payable 642,642.86

Less: Tax credits/payments

26B Creditable VAT withheld 669,419.64
26H Total tax credits/payments 669,419.65

27 Tax still payable (26,776.80)