HIGHLAND MALT

Balance Sheet
AS OF 31 DECEMBER 2019
Account Note 2019 2018
$ $
Asset
Current assets
Cash and cash equivalents 380,000 170,000
Inventory 3 375,000 625,000
Account Receivable 90,000 -
845,000 795,000
Liabilities
Non-Current liabilities
Bank Loan 50,000 50,000
Net assets 795,000 745,000
Equity
Paid-up Capital 750,000 750,000
Retained Earnings 4 45,000 (5,000)
Total equity 795,000 745,000

HIGHLAND MALT
Income Statement
FOR THE PERIOD ENDED 31 DECEMBER 2019
Account Note 2019 2018
$ $
Revenue 1 2,500,000 -
Cost of Goods Sold (COGS) 5 (1,700,000) -
Gross Profit 800,000 -
SG&A 6 (745,000) -
Opearting profit (EBIT) 55,000 -
Finance expense (5,000) (5,000)
Net Income 50,000 (5,000)

HIGHLAND MALT
Cash Flow Statement
FOR THE PERIOD ENDED 31 DECEMBER 2019
Account Note 2019 2018
$ $
Profit before taxation 50,000 (5,000)
Increase/(Decrease) in Inventory 250,000 (625,000)
Increase in trade receivables (90,000) -
Cash generated from operations 210,000 (630,000)

Increase in Paid-up Capital 750,000

Bank Loan 50,000
Net cash inflow from operating activities - 800,000
Net increase in cash and cash equivalents 210,000 170,000
Cash and cash equivalents at the beginning of the year 170,000 -
Cash and cash equivalents as at the end of the year 380,000 170,000