CEBU INK- TONER WELL SALES & SERVICES

UNIT 4, 17-D JUANA OSMENA ST., COR. ABOITIZ ST. CEBU CITY

STATEMENT OF FINANCIAL POSITION

For the year ended December 31, 2022 and 2021
(In Philippine Pesos)

2022 2021
ASSETS
CURRENT ASSETS
Cash and Cash Equivalent 2,321,352.61 1,960,040.99

NON-CURRENT ASSETS
Property and Equipment 900,000.00 900,000.00
Less: Depreciation (900,000.00) (837,999.43)
TOTAL NON-CURRENT ASSET - 62,000.57

TOTAL ASSETS 2,321,352.61 2,022,041.56

LIABILITIES & EQUITY

CURRENT LIABILITIES
Income Tax Payable 2,768.43 2,215.00
Total Current Liabilities 2,768.43 2,215.00

OWNER'S EQUITY
Myleen Ng's Capital - Beginning 2,019,826.56 1,707,530.56
Add: Net Income of the Year 298,757.62 312,296.00
Less: Drawings -
Myleen Ng's Capital - End 2,318,584.18 2,019,826.56
TOTAL OWNER'S EQUITY 2,318,584.18 2,019,826.56

TOTAL LIABILITIES & EQUITY 2,321,352.61 2,022,041.56

The accompanying notes are an integral part of these financial statements.

 CEBU INK- TONER WELL SALES & SERVICES
UNIT 4, 17-D JUANA OSMENA ST., COR. ABOITIZ ST. CEBU CITY

STATEMENT OF INCOME
For the year ended December 31, 2022 and 2021
(In Philippine Pesos)

2022 2021
REVENUE 2,580,773.59 2,834,631.88
LESS: COST OF SALES 1,908,410.00 2,133,134.76
GROSS PROFIT 672,363.59 701,497.12
Less: Operating Expenses
Communication, Light & Water 86,413.00 82,714.68
Depreciation 62,000.57 115,485.49
Repairs & Maintenance - Materials 52,743.00 46,272.00
Representation & Entertainment 72,852.00 63,158.00
Fuel and Oil 8,740.00 4,200.00
Transportation & Travel 13,425.00 3,600.00
Repairs & Maintenance - Supplies 33,987.00 28,328.00
Taxes & Licenses 31,256.00 29,868.95
Total Operating Expenses 361,416.57 373,627.12
NET INCOME BEFORE INCOME TAX 310,947.02 327,870.00
Provision for Income Tax 12,189.40 15,574.00
NET INCOME 298,757.62 312,296.00

The accompanying notes are an integral part of these financial statements.

 CEBU INK- TONER WELL SALES & SERVICES
UNIT 4, 17-D JUANA OSMENA ST., COR. ABOITIZ ST. CEBU CITY

STATEMENTS OF CASH FLOW

For the year ended December 31, 2022 and 2021
(In Philippine Pesos)

2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income 298,757.62
Add Reconciling Non-Cash Item:
Depreciation 62,000.57
(Increase) Decrease in Current Assets:
Increase (Decrease) in Current Liabilities:
Current Portion of Long Term Loan
Income Tax Payable 553.43
Net Cash Provided by Operating Activities 361,311.62

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of Property & Equipment -
Cash Used in Investing Activities -

CASH FLOWS FROM FINANCING ACTIVITIES

Additional Investment -
Proceeds from long term loan -
Cash Provided by Financing Activities -

NET INCREASE IN CASH 361,311.62

CASH AT BEGINNING OF YEAR 1,960,040.99

CASH AT END OF YEAR 2,321,352.61

The accompanying notes are an integral part of these financial statements.

K- TONER WELL SALES & SERVICES
ANA OSMENA ST., COR. ABOITIZ ST. CEBU CITY

STATEMENTS OF CASH FLOW

he year ended December 31, 2022 and 2021
(In Philippine Pesos)

2021
ATING ACTIVITIES
312,296.00

115,485.49

1,656.00
429,437.49

TING ACTIVITIES

CING ACTIVITIES

429,437.49

1,530,603.50

1,960,040.99