Lozano Company

Statement of Financial Position

For the year ended December 31, 2023

Notes Dec. 31, 2023 Dec.31, 2022

ASSETS
Current assets
Cash and cash equivalents 6 ₱ 168,750 ₱ 100,000
Accounts receivable 7 210,000 150,000
Inventories 8 280,000 200,000
Prepaid expense 65,000 50,000
Total current assets ₱ 723,750 ₱ 500,000

Non-current assets
Property, plant and equipment, net 9 ₱ 3,783,750 ₱ 1,920,000
Intangible assets 10 480,000 480,000
Investment property 11 800,000 800,000
Total non-current assets ₱ 5,063,750 ₱ 3,200,000
Total assets ₱ 5,787,500 ₱ 3,700,000

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
Accounts payable 12 ₱ 166,000 ₱ 116,000
Accrued expenses 13 214,000 174,000
Total current liabilities ₱ 380,000 ₱ 290,000

Non-current Liabilities
Notes payable - long term 14 ₱ 44,000 ₱ 244,000
Bonds payable 15 866,000 366,000
Total non-current liabilities ₱ 910,000 ₱ 610,000
Total liabilities ₱ 1,290,000 ₱ 900,000

Shareholders' Equity
Ordinary share capital ₱ 1,220,000 ₱ 420,000
Preference share capital 336,000 336,000
Additional paid in capital 840,000 840,000
Other comprehensive income 280,000 280,000
Retained earnings 1,821,500 924,000
Shareholders' equity ₱ 4,497,500 ₱ 2,800,000
Total Liabilities and Shareholders' Equity ₱ 5,787,500 ₱ 3,700,000