V.

Financial Plan
MAS-ISSNEUN SAMGYEOPSAL
INCOME STATEMENT
FOR THE PERIOD ENDED DECEMBER 2022
Sales ₱175,000.00
Less: Sales Discount ₱15,000.00
Sales Return and Allowances ₱3,000.00
Net Sales ₱157,000.00
Less: Cost of Good Sold ₱85,000.00
Gross Profit ₱72,000.00
Less: Operating Expenses
Freight Out ₱5,500.00
Rent Expense ₱9,500.00
Utilities Expense ₱4,000.00
Miscellaneous Expense ₱3,500.00
Total Operating Expenses ₱22,500.00
Net Income ₱49,500.00

MAS-ISSNEUN SAMGYEOPSAL

STATEMENT OF EQUITY

FOR THE PERIOD ENDED DECEMBER 2022

Mas-issneun Samgyeopsal, ₱193,000.00

Capital – Beginning
Add: Profit ₱49,500.00

Mas-issneun Samgyeopsal, ₱242,500.00

Capital - Ended
 MAS-ISSNEUN SAMGYEOPSAL
BALANCE SHEET
FOR THE PERIOD ENDED DECEMBER 2022
Assets
Current Assets
Cash ₱ 50,000.00
Account Receivable ₱ 20,000.00
Inventories ₱ 25,000.00
Total Current Assets ₱ 95,000.00
Non-Current Assets
Furniture and Equipment ₱ 68,500.00
Cash Register ₱ 120,000.00
Total Non-Current Assets ₱ 188,500.00
Total Assets ₱ 283,500.00

Liabilities and Equity

Liabilities
Current Liabilities
Accounts Payable ₱ 20,000.00
Notes Payable ₱ 15,500.00
Income Tax Payable ₱ 5,500.00
Total Liabilities ₱ 41,000.00
Owner’s Equity
Mas-issneun Samgyeopsal, Capital ₱ 242,500.00
Total Liabilities and Equity ₱ 283,500.00
 Group 5

Participation
Tarcelo, Terry Joy Leader

Endaya, Reiner Joseph 10

Enraca, John Nerbert 10

Maglasang, Jeremiah 10

Diaz, Marius Dionell 10