11:13 AM MONROVIA BREWERIES INC.

04.29.20
Accrual Basis
Trial Balance
As of March 31, 2020

Mountain Dew Incorporated

Trial Balance
For the year ended December 31, 2019
AQATF1Rya
AQAAAAkF Dec 31, 19
ASAAAAAA
WFsIEJhbG Debit Credit
FuY2UAAAA
AAAAAAAA
1000 · CASH & BANK BALANCES - LRD:1001 · CASH
AAAAAAAA
AAABAAAA 40,525.00
AAAAAAAA
1000 · CASH & BANK BALANCES - LRD:1004 · GLOBAL BANK 24,965.00
AAAAAAAA
1000 · CASH & BANK BALANCES - LRD:1005 · ECOBANK LIBERIA
AAAAAAAA 38,820.00
AAAAAAAA
1000 · CASH & BANK BALANCES - LRD:1012 · LBDI 24,030.00
AAAAAAAA
1000 · CASH & BANK BALANCES - LRD:1013 · BANK - OVER DRAFT
AAAAAAAA 66,200.00
AAAAAAAA
1000 · CASH & BANK BALANCES - USD:1014 · KPONLAWON BANK 110,675.00
AAAAAAAA
1000 · CASH & BANK BALANCES - USD:1018 · FOREX - FINANCE OFFICE
AAAAAAAA 15,035.00
AAAAAGwA
1000 · CASH & BANK BALANCES - LRD:1019 · FOREX TRANSACTIONS 14,345.00
AAAAAAAA
1000 · CASH & BANK BALANCES - LRD:1020 · FOREX - GMT'S OFFICE 2,585.00
AAAAAAAB
EVwEAMgA
1000 · CASH & BANK BALANCES - LRD:1097 · TRANSFERS IN TRANSIT 11,570.00
MAAEAAAA
1200 · TRADE RECEIVABLES:1202 · TOM ENTERPRISES 12,960.00
AAAAAAQA
1200 · TRADE RECEIVABLES:1203 · KOLLIE ENTERPRISES
JAQED5Acf 2,550.00
A+QHAAAB
1200 · TRADE RECEIVABLES:1204 · DEOM INC 550.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1209 · KILO CORPORATION
AAAAAAAA 13,320.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1210 · NECCO TRADING 4,285.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1211 · MIAMIK COMPANY
XURXBQBy 6,950.00
BgH/AAAAA
1200 · TRADE RECEIVABLES:1215 · SOSOKA BUSINESS CENTER 1,430.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1218 · LEO POP MARKETING
AAAAAAAA 5,015.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1222 · DIRECT SALES ACCOUNT 12,350.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1223 · MORE IS GOOD TRADING
AAAAAAAA 10,155.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1224 · GOTOGAN ENTERPRISES 1,595.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1225 · PAPAK DISTRIBUTION 220.00
AAAAAAAA
AAAAAAAA
1200 · TRADE RECEIVABLES:1232 · DANCE 51,205.00
AAAAAAAA
1200 · TRADE RECEIVABLES:1234 · HANSEE INC 49,245.00
AAAAAAAA
AAAAAAAA
1200 · TRADE RECEIVABLES:1240 · DOM CORP 344.00
AAAAAAAA
1275 · RECEIVABLE:1276 · RECEIVABLE - MAIN GATE INC 350.00
AAAAAAAA
1275 · RECEIVABLE:1281 · RECEIVABLE - WEEDOR BUSINESS CENTER
AAAAAAAA 3,930.00
AAAAAAAA
1275 · RECEIVABLE:1283 · RECEIVABLE - ORANGE-GREEN BUSINESS CENTER 1,180.00
AAAAAAAA
1275 · RECEIVABLE:1284 · RECEIVABLE - ME & YOU ENTERPRISE
AAAAAAAA 1,371.00
AAAAAAAA
1275 · RECEIVABLE:1287 · RECEIVABLE - KORPO BUSINESS CENTER 1,226.00
AAAAAAAA
1275 · RECEIVABLE:1288 · RECEIVABLE - HANRY WHOLESALE
AAAAAAAA 2,065.00
AAAAAAAA
1275 · RECEIVABLE:1289 · RECEIVABLE - NIMELY TRADING CENTER 379.00
AAAAAAAA
1275 · RECEIVABLE:1290 · RECEIVABLE - LEO ENTERPRISE
AAAAAAAA 445.00
AAAAAAAA
1275 · RECEIVABLE:1291 · RECEIVABLE - WOLO TRADING CORPORATION 378.00
AAAAAAAA
1275 · RECEIVABLE:1293 · RECEIVABLE - TETATO DISTRIBUTOR
AAAAAAAA 2,180.00
Pj/vAJBcmlh
1275 · RECEIVABLE:1294 · RECEIVABLE - YOUAYE TRADING 372.00
bAAAAAAA
1275 · RECEIVABLE:1295 · RECEIVABLE - SAMSEE BUSINESS CENTER 2,177.00
AAAAAAAA
AAAAAAAA
1275 · RECEIVABLE:1296 · RECEIVABLE - REAGEANT 1,236.00
AAAAAAAA
1275 · RECEIVABLE:1297 · RECEIVABLE -OPERATIONS ONE SHOT ENTERPRISE 4,422.00
AAAAAAAA
1300 · RECEIVABLES & PREPAYMENTS:1303 · PREPAID LEASE - HOUSEHOLD
AAAAAAAA 4,057.00
ABAyMjIyMjI
1300 · RECEIVABLES & PREPAYMENTS:1309 · PREPAID SUPPLIERS 12,976.00
QAPj/vAJBc
1300 · RECEIVABLES & PREPAYMENTS:1310 · PREPAID LEASE TAX
mlhbAAAAA 1,758.00
AAAAAAAA
1300 · RECEIVABLES & PREPAYMENTS:1312 · PREPAID SUB LEASE TAX 11,445.00
AAAAAAAA
1300 · RECEIVABLES & PREPAYMENTS:1314 · PREPAID - SUPPLIERS MARKETING
AAAAAAAA 4,404.00
AAAAAAAA
1300 · RECEIVABLES & PREPAYMENTS:1315 · PREPAID INSURANCE - USD 42,516.00
AAAAAAAA
1300 · RECEIVABLES & PREPAYMENTS:1316 · PREPAYMENTS - USD
AAABAyMjIy 17,366.00
MjIQAPj/kAF
1300 · RECEIVABLES & PREPAYMENTS:1317 · OTHER RECEIVABLE - USD 2,135.00
BcmlhbAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA Page 1 of 23
AAAAAAAA
AAAAABAy
11:13 AM MONROVIA BREWERIES INC.
04.29.20
Accrual Basis
Trial Balance
As of March 31, 2020

For the year ended December 31, 2019

AQAAAAkF
AQATF1Rya Dec 31, 19
WFsIEJhbG
ASAAAAAA Debit Credit
FuY2UAAAA
AAAAAAAA
1300 · RECEIVABLES & PREPAYMENTS:1318 · PREPAID - LEC
AAAAAAAA
AAABAAAA 2,333.00
AAAAAAAA
1500 · OTHER RECEIVABLES:1503 · CASH DIFFERENCE 396.00
AAAAAAAA
1500 · OTHER RECEIVABLES:1507 · PENDING
AAAAAAAA 1,062.00
AAAAAAAA
1500 · OTHER RECEIVABLES:1508 · MBI WORKERS UNION RECEIVABLE 6,067.00
AAAAAAAA
1500 · OTHER RECEIVABLES:1509 · RECEIVABLE - SAJ INC #2
AAAAAAAA 7,000.00
AAAAAAAA
1500 · OTHER RECEIVABLES:1510 · PROV.CORP.TAX PAYABLE SALES TAX 2,245.00
AAAAAAAA
1500 · OTHER RECEIVABLES:1512 · PREPAID LEASE TAX - LRD 2,370.00
AAAAAAAA
AAAAAGwA
1500 · OTHER RECEIVABLES:1516 · PREPAYMENTS - LRD 1,766.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1601 · CLUB BEER BREWING MATERIALS 145,595.00
AAAAAAAB
1600 · MATERIAL INVENTORY:1602 · GUINNESS STOUT MATERIALS
EVwEAMgA 30,105.00
MAAEAAAA
1600 · MATERIAL INVENTORY:1603 · MALTA GUINNESS MATERIALS 9,760.00
AAAAAAQA
1600 · MATERIAL INVENTORY:1604 · S & M MATERIALS
JAQED5Acf 12,965.00
A+QHAAAB
1600 · MATERIAL INVENTORY:1605 · PACKING MATERIALS 119,335.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1606 · FLOATING MATERIALS
AAAAAAAA 159,530.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1607 · GASOLINE 1,130.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1608 · SPARE PARTS & TOOLS
XURXBQBy 243,210.00
BgH/AAAAA
1600 · MATERIAL INVENTORY:1609 · POWER & STEAMBOILER MATERIALS 31,190.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1610 · LARGE BOTTLES STOCK
AAAAAAAA 45,835.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1611 · SMALL BOTTLES STOCK 88,130.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1612 · MEDIUM BOTTLES STOCK 25,935.00
AAAAAAAA
AAAAAAAA
1600 · MATERIAL INVENTORY:1613 · CRATE STOCK 29,415.00
AAAAAAAA
1600 · MATERIAL INVENTORY:1614 · TUBORG BEER STOCK 7,390.00
AAAAAAAA
AAAAAAAA
1600 · MATERIAL INVENTORY:1619 · EAZI MATERIAL STOCK 50,690.00
AAAAAAAA
1700 · FINISHED GOODS INVENTORY:1701 · CLUB BEER STOCK 15,865.00
AAAAAAAA
1700 · FINISHED GOODS INVENTORY:1702 · GUINNESS STOUT STOCK
AAAAAAAA 4,940.00
AAAAAAAA
1700 · FINISHED GOODS INVENTORY:1703 · MALTA GUINNESS STOCK 3,855.00
AAAAAAAA
1700 · FINISHED GOODS INVENTORY:1704 · S & M STOCK
AAAAAAAA 2,980.00
AAAAAAAA
1700 · FINISHED GOODS INVENTORY:1705 · EAZI STOCK 1,120.00
AAAAAAAA
1800 · FIXED ASSETS:1801 · BUILDING
AAAAAAAA 426,245.00
AAAAAAAA
1800 · FIXED ASSETS:1802 · DEPRECIATION ON BUILDING 128,975.00
AAAAAAAA
1800 · FIXED ASSETS:1803 · BREWHOUSE MACH & EQUIPMENT
AAAAAAAA 387,892.00
AAAAAAAA
1800 · FIXED ASSETS:1804 · DEPRE ON BREWHSE MACH & EQUIP 101,151.00
AAAAAAAA
1800 · FIXED ASSETS:1805 · FERMENT HALL MACH & EQUIP
AAAAAAAA 424,890.00
AAAAAAAA
1800 · FIXED ASSETS:1806 · DEPRE FERMENT HALL MACH & EQUIP 118,670.00
AAAAAAAA
1800 · FIXED ASSETS:1807 · BOTTLING PLANT 223,775.00
AAAAAAAA
Pj/vAJBcmlh
1800 · FIXED ASSETS:1808 · DEPRE ON BOTTLING PLANT 82,520.00
bAAAAAAA
1800 · FIXED ASSETS:1809 · POWER HEATING & COOLING 189,310.00
AAAAAAAA
1800 · FIXED ASSETS:1810 · DEPRE ON POWER HEAT & COOLING
AAAAAAAA 20,280.00
AAAAAAAA
1800 · FIXED ASSETS:1811 · VEHICLES 21,320.00
AAAAAAAA
1800 · FIXED ASSETS:1812 · DEPRE ON VEHICLES
AAAAAAAA 18,230.00
ABAyMjIyMjI
1800 · FIXED ASSETS:1813 · WORKSHOP MACH & EQUIP 6,405.00
QAPj/vAJBc
1800 · FIXED ASSETS:1814 · DEPRE ON W/SHOP MACH & EQUIP
mlhbAAAAA 5,206.00
AAAAAAAA
1800 · FIXED ASSETS:1815 · OFFICE & BUNGALOWS 1,203.00
AAAAAAAA
1800 · FIXED ASSETS:1816 · DEPRE ON OFFICE & BUNGLOWS
AAAAAAAA ### 1,203.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2003 · WATER AND POWER 1,815.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2006 · ROYALTY PAYABLE - GUINNESS
AAABAyMjIy 3,060.00
MjIQAPj/kAF
2000 · ACCOUNTS PAYABLE - LRD:2007 · EMPTIES TRANSITORY ACCOUNT 6,650.00
BcmlhbAAA
2000 · ACCOUNTS PAYABLE - LRD:2011 · EXCISE TAX 6,925.00
AAAAAAAA
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2012 · SALES TAX PAYABLE 14,330.00
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAABAy
MjIyMjIQAPj/ Page 2 of 23
vAJBcmlhb
AAAAAAAA
11:13 AM MONROVIA BREWERIES INC.
04.29.20
Accrual Basis
Trial Balance
As of March 31, 2020

For the year ended December 31, 2019

AQAAAAkF
AQATF1Rya Dec 31, 19
WFsIEJhbG
ASAAAAAA Debit Credit
FuY2UAAAA
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2013 · GST PAYABLE
AAAAAAAA
AAABAAAA 4,995.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2014 · EXPATRIATE TAXES W/HELD 11,180.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2016 · CORP. TAX PAYABLE
AAAAAAAA 4,975.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2017 · AUDIT BILL 5,560.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2019 · MBIWU W/HOLDING PAYABLE
AAAAAAAA 600.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2020 · PROVISION FOR BAD DEBT 1,535.00
AAAAAAAA
2000 · ACCOUNTS PAYABLE - LRD:2022 · PAYABLE - PR 31,560.00
AAAAAAAA
AAAAAGwA
2100 · ACCOUNTS PAYABLE - USD:2101 · INCOME TAX W/HELD 3,170.00
AAAAAAAA
2100 · ACCOUNTS PAYABLE - USD:2102 · MANAGEMENT W/HOLDING TAX 2,360.00
AAAAAAAB
2100 · ACCOUNTS PAYABLE - USD:2108 · SUNDRY CREDITORS
EVwEAMgA 6,080.00
MAAEAAAA
2100 · ACCOUNTS PAYABLE - USD:2109 · RETIREMENT PENSION FUND 21,560.00
AAAAAAQA
2100 · ACCOUNTS PAYABLE - USD:2110 · MBIWCU W/HOLDING PAYABLE
JAQED5Acf 1,425.00
A+QHAAAB
2100 · ACCOUNTS PAYABLE - USD:2111 · NSS & WC PAYABLE 31,300.00
AAAAAAAA
2100 · ACCOUNTS PAYABLE - USD:2112 · UNEARN INCOME - SUB LEASE
AAAAAAAA 25,505.00
AAAAAAAA
2100 · ACCOUNTS PAYABLE - USD:2115 · BRAUTEC AG 14,965.00
AAAAAAAA
2100 · ACCOUNTS PAYABLE - USD:2119 · TOTAL LIB INC - PAYABLE
XURXBQBy 36,955.00
BgH/AAAAA
2100 · ACCOUNTS PAYABLE - USD:2124 · LEC PAYABLE - USD 14,225.00
AAAAAAAA
2200 · LONG TERM LIABILITIES / SHLIAB:2215 · DIVIDEND PAYABLE
AAAAAAAA 57,600.00
AAAAAAAA
3000 · SHARE HOLDERS EQUITY:3001 · RETAINED EARNINGS
AAAAAAAA
3000 · SHARE HOLDERS EQUITY:3002 · SPECIAL RESERVE 65,000.00
AAAAAAAA
AAAAAAAA
3000 · SHARE HOLDERS EQUITY:3003 · CAPITAL 450,000.00
AAAAAAAA
3000 · SHARE HOLDERS EQUITY:3004 · CAPITAL SURPLUS 150,500.00
AAAAAAAA
AAAAAAAA
3000 · SHARE HOLDERS EQUITY:3106 · REVALUATION ACCOUNT 248,590.00
AAAAAAAA
32000 · RETAINED EARNINGS 1,259,750.00
AAAAAAAA
4000 · REVENUE:4001 · CLUB BEER SALES
AAAAAAAA 1,136,305.00
AAAAAAAA
4000 · REVENUE:4002 · GUINNESS STOUT SALES 2,172,305.00
AAAAAAAA
4000 · REVENUE:4004 · CO2 SALES
AAAAAAAA 110,000.00
AAAAAAAA
4000 · REVENUE:4005 · MALTA GUINNESS SALES 372,515.00
AAAAAAAA
4000 · REVENUE:4006 · DRAFT BEER SALES
AAAAAAAA 64,470.00
AAAAAAAA
4000 · REVENUE:4007 · SODA SALES 890.00
AAAAAAAA
4000 · REVENUE:4008 · 5 LITRE CAN BEER SALES
AAAAAAAA 12,060.00
AAAAAAAA
4000 · REVENUE:4009 · TUBORG BEER SALES 27,090.00
AAAAAAAA
4000 · REVENUE:4011 · EAZI SALES
AAAAAAAA 10,480.00
AAAAAAAA
4000 · REVENUE:4061 · EXCISE TAX CLUB BEER 186,590.00
AAAAAAAA
4000 · REVENUE:4062 · EXCISE TAX GUINNESS STOUT 171,814.00
AAAAAAAA
Pj/vAJBcmlh
4000 · REVENUE:4063 · EXCISE TAX S & M 7,622.00
bAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
ABAyMjIyMjI
QAPj/vAJBc
mlhbAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAABAyMjIy
MjIQAPj/kAF
BcmlhbAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAABAy
MjIyMjIQAPj/ Page 3 of 23
vAJBcmlhb
AAAAAAAA
11:13 AM MONROVIA BREWERIES INC.
04.29.20
Accrual Basis
Trial Balance
As of March 31, 2020

For the year ended December 31, 2019

AQAAAAkF
AQATF1Rya Dec 31, 19
WFsIEJhbG
ASAAAAAA Debit Credit
FuY2UAAAA
AAAAAAAA
4000 · REVENUE:4064 · EXCISE TAX MALTA GUINNESS
AAAAAAAA
AAABAAAA 2,744.00
AAAAAAAA
4000 · REVENUE:4066 · EXCISE TAX EAZI 2,810.00
AAAAAAAA
4100 · OTHER REVENUE:4104 · EMPTY MATERIALS SALES
AAAAAAAA 12,585.00
AAAAAAAA
5000 · COST OF GOODS SOLD:5001 · CLUB BEER MATERIALS ISSUES 308,945.00
AAAAAAAA
5000 · COST OF GOODS SOLD:5002 · GUIN STOUT MATERIALS ISSUES
AAAAAAAA 458,950.00
AAAAAAAA
5000 · COST OF GOODS SOLD:5003 · S & M MATERIALS ISSUES 125,175.00
AAAAAAAA
5000 · COST OF GOODS SOLD:5004 · MALTA GUIN. MATERIALS ISSUES 164,235.00
AAAAAAAA
AAAAAGwA
5000 · COST OF GOODS SOLD:5005 · EAZI MATERIALS ISSUES 43,240.00
AAAAAAAA
5000 · COST OF GOODS SOLD:5046 · BREAKAGES 14,075.00
AAAAAAAB
5000 · COST OF GOODS SOLD:5047 · BOTTLES EXPS
EVwEAMgA 73,290.00
MAAEAAAA
5000 · COST OF GOODS SOLD:5048 · CRATES EXPS 12,250.00
AAAAAAQA
5000 · COST OF GOODS SOLD:5050 · TUBORG - COGS
JAQED5Acf 32,270.00
A+QHAAAB
5500 · OPERATING EXPENSES:5501 · BREWHOUSE & FERMENTATION 245,810.00
AAAAAAAA
5500 · OPERATING EXPENSES:5502 · BOTLING PLANT
AAAAAAAA 167,710.00
AAAAAAAA
5500 · OPERATING EXPENSES:5503 · POWER & STEAMBOILER 171,380.00
AAAAAAAA
5500 · OPERATING EXPENSES:5504 · ENERGY
XURXBQBy 200,590.00
BgH/AAAAA
5500 · OPERATING EXPENSES:5505 · WATER 14,000.00
AAAAAAAA
5500 · OPERATING EXPENSES:5506 · TRANSPORTATION
AAAAAAAA 5,325.00
AAAAAAAA
5500 · OPERATING EXPENSES:5507 · PLANT & EQUIP MAINTENANCE 146,505.00
AAAAAAAA
5500 · OPERATING EXPENSES:5508 · BUILDING & YARD MAINTENANCE 96,465.00
AAAAAAAA
AAAAAAAA
5500 · OPERATING EXPENSES:5509 · PLANT & MACHINERY DEPRE. EXPS 476,235.00
AAAAAAAA
5500 · OPERATING EXPENSES:5511 · GUINNESS EXPENSES 88,350.00
AAAAAAAA
AAAAAAAA
5500 · OPERATING EXPENSES:5512 · MBI CANTEEN EXPS 9,505.00
AAAAAAAA
5500 · OPERATING EXPENSES:5514 · LEC EXPS 29,790.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5601 · ADM GENERAL EXPENSES
AAAAAAAA 20,015.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5602 · STATIONERY & SUPPLIES 19,310.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5603 · ADMINISTRATIVE SALARIES
AAAAAAAA 38,995.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5604 · GUINNESS MARKETING EXPS 26,666.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5605 · TRAVELLING EXPENSES
AAAAAAAA 12,770.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5606 · MEDICAL EXPENSES 19,412.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5607 · SALES PROMOTION
AAAAAAAA 1,520.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5608 · CLUB MARKETING EXPENSES 35,630.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5609 · CONTRIBUTIONS
AAAAAAAA 18,740.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5610 · COMPENSATION 14,050.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5611 · TUBORG MARKETING EXPS 1,211.00
AAAAAAAA
Pj/vAJBcmlh
5600 · ADMINISTRATIVE EXPENSES:5612 · EAZI MARKETING EXPS 3,500.00
bAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5613 · LEGAL & PROFESSIONAL FEES 28,625.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5614 · BANK CHARGES & COMMISSIONS
AAAAAAAA 22,364.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5616 · RIA FLY BY EXPS 12,270.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5618 · DISPOSAL OF FIXED ASSETS
AAAAAAAA 15,790.00
ABAyMjIyMjI
5600 · ADMINISTRATIVE EXPENSES:5621 · MAINT. & REPAIRS - CARS 19,330.00
QAPj/vAJBc
5600 · ADMINISTRATIVE EXPENSES:5622 · MAINT. & REPAIRS OFFICE EQUIP
mlhbAAAAA 10,085.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5623 · TECHNICAL GENERAL EXPS 52,490.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5624 · EMPTIES ISSUED EXPENSES
AAAAAAAA 13,470.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5628 · QUALITY MANAGEMENT EXPS 26,900.00
AAAAAAAA
5600 · ADMINISTRATIVE EXPENSES:5629 · PENSIONEERS' PAYROLL EXPENSE
AAABAyMjIy 12,780.00
MjIQAPj/kAF
5600 · ADMINISTRATIVE EXPENSES:5697 · FINISHED GOODS STOCK DIFFERENCE 2,287.00
BcmlhbAAA
77000 · EXCHANGE GAIN OR LOSS
AAAAAAAA 38,770.00
TOTAL
AAAAAAAA 6,986,153.00 6,986,153.00
AAAAAAAA
AAAAAAAA
AAAAAAAA
AAAAABAy
MjIyMjIQAPj/ Page 4 of 23
vAJBcmlhb
AAAAAAAA
Mountain Dew Incorporated
Financial Statements
Year ended December 31, 2019

STATEMENT OF FINANCIAL POSITION 31-Dec-18

Note US$
Assets
Property, Plant & Equipment 1,066,288
Total non-current assets 1,066,288

Inventories 1,016,602
Trade Receivables 26,817
Other Receivables 74,333
Prepaid Income Tax 93,864
Cash & Cash Equivalents 265,305
Total Current Assets 1,476,921

Total Assets 2,543,209

Equity
Share Capital 450,000
Capital Reserves 65,000
Special Reserves 150,500
Revaluation (Translation) 195,529
Retained Earnings 1,073,280
Total Equity 1,934,309

Liabilities
Trade & Other Payables 433,250
Bank Overdraft
Corporation Tax Payables 175,650
Total Current Liabilities 608,900

Total Equity and Liabilities 2,543,209

Mountain Dew Incorporated
Financial Statements
For the year ended December 31, 2019

STATEMENT OF COST OF GOODS SOLD 31-Dec-19

Cost of Goods Sold US$

Opening Balance 417,270

Purchases 1,039,395
Available for Use 1,456,665
Closing Balance (256,505)
Materials Consumed 1,200,160
Direct Labor 584,900
Prime Cost 1,785,060
Factory Overhead 1,110,050
Total Manufacturing Cost 2,895,110
Work in Process Opening Balance 138,590
Cost of Goods to be Manufactured 2,895,110
Work in Process Closing Balance (106,320)
Cost of Goods Manufactured 2,927,380
Finished Goods Opening Balance 26,473
Cost of Goods Available for Sale 2,953,853
Finished Goods Closing Balance (28,760)
Cost of Goods Sold 2,925,093
Mountain Dew Incorporated
Financial Statements
For the year ended December 31, 2019

STATEMENT OF COMPREHENSIVE INCOME 31-Dec-19

Note US$

Revenue 5 4,141,730
Cost of Sales 6 (2,925,093)
Gross Profit 1,216,637
Other Operating Income 7 122,585
Selling & Marketing Expenses 8 (68,527)
Operational & Administrative Expenses
Excise tax (371,580)
Administrative & General Expenses (20,015)
Administrative Salaries (51,775)
Technical General Expenses (52,490)
Other Operating Expenses 9 (179,172)
Profit from Operations 595,663
Finance Expenses 10 (22,364)
Profit before taxation 573,299
Corporate Tax Expense (143,325)
Net Profit From Operation 429,974
Other Comprehensive Income
Non-taxable Exchange Gain 38,770
Net Profit For The Year 468,744

Attributable to:
Equity Holders of the Company 468,744

Profit per share attributable to the equity holders 468,744

of the Company during the year
(expressed in US Dollars per share)
Basic Earnings Per Share 11.72

Diluted Profit Per Share 11.72

Mountain Dew Incorporated
Financial Statements
For the year ended December 31, 2019

Issued Capital Retained

STATEMENT OF CHANGES IN EQUITY
Capital Surplus Earnings
US$ US$ US$

Balances as at January 1, 2019 450,000 150,500 1,073,280

Prior period adjustments (104,505)
Dividend Declared & Paid (32,055)
Revaluation Adjustments
Net profit for the year 468,744
Balances as at December 31, 2019 450,000 150,500 1,405,464
 Special Revaluation
Total
Reserves Account
US$ US$ US$

6,500 195,529 1,875,809

(104,505)
(32,055)
53,061 53,061
468,744
6,500 248,590 2,261,054
 Change In Account Balances
Accounts 2018 2019 Change
Trade Receivable 26,817.00 11,884.00 14,933.00
Other receivables 74,333.00 123,255.00 (48,922.00)
Total 101,150.00 135,139.00 (33,989.00)

Inventories 1,016,602.00 1,028,975.00 (12,373.00)

Prepaid Tax 93,864.00 78,620.00 15,244.00

Accounts Payable 433,250.00 234,090.00 (199,160.00)

Corporate Taxes Payable 175,650.00 168,745.00 (6,905.00)
Share Capital
Capital Reserves -
Special Reserves
Bank Overdraft - 66,200.00 66,200.00
Mountain Dew Incorporated
Financial Statements
For the year ended December 31, 2019

STATEMENT OF CASH FLOWS 31-Dec-19

US$
Operating Activities
Net Operating Profit for the year 468,744
Adjustments for:
Depreciation and Incentives 476,235
(Profit)/Loss on disposal -
Net profit before working capital changes 944,979
Changes in Trade receivables & other receivables (33,989)
Changes in Prepaid tax 15,244
Changes in Inventories (12,373)
Changes in Bank Overdraft 66,200
Changes in Trade and other payables (206,065)
Net Changes in Working Capital (170,983)
Net cash flows from Operating Activities 773,996

Investing Activities
Proceeds from disposal
Acquisition of property, plant & equipment (487,261)
Net cash flows from investing activities (487,261)

Financing Activities
Capitals Reserves and Others
Long-Term Debt Paid (237,435)
Dividend Paid (32,055)
Net cash flows from Financing Activities (269,490)

Net (decrease)/increase in Cash & Cash Equivalents 17,245

Cash & cash equivalents at the beginning of the year 265,305
Cash & cash equivalents at the end of the year 282,550
Mountain Dew Incorporated
Financial Statements
For the year ended December 31, 2019

STATEMENT OF FINANCIAL POSITION 31-Dec-19

Note US$
Assets
Property, Plant & Equipment 1,204,805
Total non-current assets 1,204,805

Inventories 11 1,028,975
Trade Receivables 12 11,884
Other Receivables 123,255
Prepaid Income Tax 78,620
Cash & Cash Equivalents 13 282,550
Total Current Assets 1,525,284

Total Assets 2,730,089

Equity
Share Capital 14 450,000
Capital Reserves 15 150,500
Special Reserves 16 6,500
Revaluation (Translation) 248,590
Retained Earnings 1,405,464
Total Equity 2,261,054

Liabilities
Trade & Other Payables 17 234,090
Bank Overdraft 66,200
Corporation Tax Payables 18 168,745
Total Current Liabilities 469,035

Total Equity and Liabilities 2,730,089

0
 NOTES TO THE FINANCIAL STATEMENTS

31-Dec-19
US$
5 Revenue
Club beer 1,272,870
Guinness stout 2,381,355
Malta Guinness 372,515
Soda & minerals 64,470
Draft beer 890
5 liters beer sales 12,060
Tuborg Beer Sales 27,090
EAZI 10,480

4,141,730
6 Cost of goods sold
Raw materials consumed 1,200,160
Brewhouse & fermenting hall 245,810
Bottling plant 167,710
Power house & steam boiler 171,380
Guinness Expenses 88,350
Energy 200,590
Water 14,000
Transportation 5,325
Plant & equipment maintenance 146,505
Building & yard maintenance 96,465
Plant & Machinery Depreciation 476,235
Canteen Expenses 9,505
LEC Expenses 29,790
Finished goods stock difference -2,287
Tuborg Beer Sales 32,270
2,881,808
7 Other operating incomes
C02 sales 110,000.00
Empty materials Sales 12,585.00
122,585.00

8 Sales & marketing expenses

 Sales promotion 1520
Marketing Expenses 67,007
68,527
9 Other operating expenses
Empties issues expense 13,470
Stationery & supplies 19,310
Traveling 12,770
Medical 19,412
Contribution 18,740
Compensation 14,050
Legal & professional fees 28,625
Repairs & maintenance - vehicles 19,330
Repairs & maintenance - office equipment 10,085
RIA Fly by Expenses 12,270
Loss on Disposal (15,790)
Quality Management Expense 26,900
Exchange Gain or Loss

179,172
10 Finance expense
Bank charges & commission 22,364
22,364
11 Inventories
Finished products/process stock 28,760
Raw, bottling & packing materials 256,505
Spare parts & sundry stocks 1,143,710
1,428,975
12 Trade and other receivables
Trade Receivables 11,884
Non-Trade receivables 123,255
135,139

13 Cash and Cash balances

Bank balances 296,655
Cash balances 40,525
Cash in transit 11,570
348,750

Cash and cash equivalents 348,750

Bank overdraft -66,200
282,550 282550
14 Share capital
Authorized share capital
 40,000 ordinary shares of no par value 450,000
Issued share capital
40,000 ordinary shares 450,000

15 Capital reserves
Capital reserves 165,000
165,000

16 Special Reserves
Balance 150,500
150,500

17 Trade and other payables

Trade payables 101,475
Non-trade payables & accrued expenses 75,015
Unpaid dividends 57,600
234,090

18 Corporate Tax Payable

Corporate tax payable Pervious year 88,714
Corporate tax payable current year 80,031
Corporate Tax Payable 168,745

Additional Information 2019

The Company Paid Advance Taxes 78,620
Prior Period Adjustments 104,505
Dividend Declared & Paid 32,055
Acquisition of Property, Plant, & Equipment 487,261
Long-Term Debt Paid 237,435
 INVENTORY

ENDING RAW MATERIALS 2019

Club Beer Brewing Materials 145,595.00
Guinness Stout Materials 30,105.00
Malta Guinness Material 9,760.00
S&M Materials 12,965.00
Tuborg Beer Stock 7,390.00
EAZI Material Stock 50,690.00
Total 256,505.00

FINISHED GOODS INVENTORY 2019

Club Beer Stock 15,865.00
Guinness Stout Stock 4,940.00
Malta Guinness Stock 3,855.00
S & M Stock 2,980.00
EAZI Stock 1,120.00
Total Finished Goods Inventory 28,760.00

MATERIAL INVENTORY 2019

Packing Materials 119,335.00
Floating Materials 159,530.00
Gasoline 1,130.00
Spare Parts & Tools 243,210.00
Power & Steamboiler Materials 31,190.00
Large Bottles Stock 45,835.00
Small Bottles Stock 88,130.00
Medium Bottles Stock 25,935.00
Crate Stock 29,415.00
Total Materials Inventory 743,710.00

Total Inventory 1,028,975.00

1800 · FIXED ASSETS:1801 · BUILDING 426,245.00
1800 · FIXED ASSETS:1802 · DEPRECIATION ON BUILDING 128,975.00
1800 · FIXED ASSETS:1803 · BREWHOUSE MACH & EQUIPMENT 387,892.00
1800 · FIXED ASSETS:1804 · DEPRE ON BREWHSE MACH & EQUIP 101,151.00
1800 · FIXED ASSETS:1805 · FERMENT HALL MACH & EQUIP 424,890.00
1800 · FIXED ASSETS:1806 · DEPRE FERMENT HALL MACH & EQUIP 118,670.00
1800 · FIXED ASSETS:1807 · BOTTLING PLANT 223,775.00
1800 · FIXED ASSETS:1808 · DEPRE ON BOTTLING PLANT 82,520.00
1800 · FIXED ASSETS:1809 · POWER HEATING & COOLING 189,310.00
1800 · FIXED ASSETS:1810 · DEPRE ON POWER HEAT & COOLING 20,280.00
1800 · FIXED ASSETS:1811 · VEHICLES 21,320.00
1800 · FIXED ASSETS:1812 · DEPRE ON VEHICLES 18,230.00
1800 · FIXED ASSETS:1813 · WORKSHOP MACH & EQUIP 6,405.00
1800 · FIXED ASSETS:1814 · DEPRE ON W/SHOP MACH & EQUIP 5,206.00
1800 · FIXED ASSETS:1815 · OFFICE & BUNGALOWS 1,203.00
1800 · FIXED ASSETS:1816 · DEPRE ON OFFICE & BUNGLOWS 1,203.00
1,681,040.00 476,235.00
Total Fixed Assets-Net Book Value 1,204,805.00
4000 · REVENUE:4061 · EXCISE TAX CLUB BEER 186,590.00
4000 · REVENUE:4062 · EXCISE TAX GUINNESS STOUT 171,814.00
4000 · REVENUE:4063 · EXCISE TAX S & M 7,622.00
4000 · REVENUE:4064 · EXCISE TAX MALTA GUINNESS 2,744.00
4000 · REVENUE:4066 · EXCISE TAX EAZI 2,810.00
Total Excise Tax 371,580.00
4000 · REVENUE:4001 · CLUB BEER SALES 1,136,305.00
4000 · REVENUE:4002 · GUINNESS STOUT SALES 2,172,305.00
4000 · REVENUE:4004 · CO2 SALES 110,000.00
4000 · REVENUE:4005 · MALTA GUINNESS SALES 372,515.00
4000 · REVENUE:4006 · DRAFT BEER SALES 64,470.00
4000 · REVENUE:4007 · SODA SALES 890.00
4000 · REVENUE:4008 · 5 LITRE CAN BEER SALES 12,060.00
4000 · REVENUE:4009 · TUBORG BEER SALES 27,090.00
4000 · REVENUE:4011 · EAZI SALES 10,480.00
Total Revenue 3,906,115.00
RAW MATERIALS CONSUMED Ledger Balance

Opening Balance 417,270.00

Purchases 1,039,395.00
Available for Use 1,456,665.00
Closing Balance (256,505.00)
Materials Consumed 1,200,160.00

Ledger Balance
RAW MATERIALS ISSUES 2019
Club Materials Issues 308,945.00
Guinness Stout Materials Issues 458,950.00
S & M Materials Issues 125,175.00
Malta Guinness Materials Issues 164,235.00
EAZI Material Issues 43,240.00
Total Raw Materials Issues 1,100,545.00

Ledger Balance
OTHER MATERIALS ISSUES 2019
Breakages 14,075.00
Bottles Expenses 73,290.00
Crates Expenses 12,250.00
Total Materials Issues 99,615.00

Total Materials Consumed 1,200,160.00

DIRECT LABOR COST Amount
US$
Brewhouse & fementing Hall 245,810.00
Bottle Plant 167,710.00
Power House & Steam Boiler 171,380.00
Total Direct Labor Cost 584,900.00
5600 · ADMINISTRATIVE EXPENSES:5623 · TECHNICAL GENERAL EXPS 52,490.00

5600 · ADMINISTRATIVE EXPENSES:5601 · ADM GENERAL EXPENSES 20,015.00

5600 · ADMINISTRATIVE EXPENSES:5603 · ADMINISTRATIVE SALARIES 38,995.00

5600 · ADMINISTRATIVE EXPENSES:5629 · PENSIONEERS' PAYROLL EXPENSE 12,780.00
51,775.00
FACTORY OVERHEAD Amount
US$
Energy & water 200,590.00
Water 14,000.00
Transportation 5,325.00
Plant & equipment maintenance 146,505.00
Building & yard maintenance 96,465.00
Plant & Machinery Depreciation Expense 519,520.00 476,235.00
Guinness Expenses 88,350.00
MBI Canteen Expenses 9,505.00
LEC Expenses 29,790.00
Total Factory Overhead 1,110,050.00