Happy Friend Service

Statement of Comprehensive Income

For the period March 31, 2022
2021

Gross Sales 2,156,800.00

Service fee 1,500,000.00
Less: Sales Return and Allowances 150,000.00
Net Sales 3,506,800.00
Less: Cost of Service 1,010,000.00
Gross Profit 2,496,800.00

Less: Operating Expenses

Salaries and Wages 250,000.00
Utilities Expense 54,000.00
Selling Expense 20,000.00
Depreciation 50,000.00
Supplies Expense 18,000.00
Freight Out 19,000.00
Other Operating Expense 21,000.00
Total Operating Expenses 432,000.00
Operating Income or Earnings Before Taxes 2,064,800.00
Income Tax (30%) 619,440.00
Net Income/(Loss) 1,445,360.00
 Happy Friends Service
Statement of Financial Position
For the period March 31, 2022
2021
ASSETS
Current Asset
Cash 1,488,353.00
Inventories 15,487.00
Accounts Receivable 24,000.00
Prepaid Expense 19,000.00
Prepaid Insurance 26,000.00
Total Current Assets 1,572,840.00
Non Current Assets
Land 250,000.00
Building 75,000.00
Furniture and Fixture 50,000.00
Office Equipment 40,000.00
Vehicle equipment 98,000.00
Less : Depreciation (50,000.00)
Total Non Current Asset 463,000.00
Total Asset 2,035,840.00

LIABILITIES & PARTNERS' EQUITY

Current Liabilities
Accounts Payable 20,480.00
Accrued Expense 14,000.00
Deferred Revenue 5,000.00
Taxes Payables 67,000.00
Insurance Expense 17,000.00
Bonds Payable (7months) 17,000.00
Total Current Liabilities 140,480.00
Total Liabilities 140,480.00
PARTNERS' EQUITY
Aguilar, Capital 1,895,360.00
Total Owner's Equity 1,895,360.00
Total Liabilities and Owner's Equity 2,035,840.00
 Happy Friends Service
Statement of Cash Flow

For the period March 31, 2022

2021
OPERATING ACTIVITIES
Net Income 1,445,360.00
Add(Deduct)
Depreciation 50,000.00
Increase / Decrease in Accounts Receivable (24,000.00)
Increase / Decrease in Prepaid Expense (19,000.00)
Increase / Decrease in Prepaid Insurance (26,000.00)
Increase / Decrease in Inventories (15,487.00)
Increase / Decrease in Accounts Payable 20,480.00
Increase / Decrease in Accrued Expense 14,000.00
Increase / Decrease in Insurance Expense 17,000.00
Increase / Decrease in Deferred Revenue 5,000.00
Increase/Decrease in Bonds Payable (7months) 17,000.00
Increase / Decrease in Tax Payable 67,000.00
Net Cash Provided (used) by Operating 1,551,353.00

INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment 513,000.00
Net Cash Provided (used) by Investing 513,000.00

FINANCING ACTIVITIES
Initial Investment 500,000.00
Capital Withdrawal 50,000.00
Net Cash Provided/(Used) by Financing 450,000.00

Increase/(Decrease) in Cash 1,488,353.00

Cash at the Beginning of the Year -
Cash at the End of the Year 1,488,353.00
 Happy Friend Service
ojected Statement of Changes in Owners' Equi
For the period March 31, 2022

2021

Basco, Capital balance beginning -

Add: Additional Capital 500,000.00
Add: Operating Income 1,445,360.00
Less: Withdrawal 50,000.00
Basco, Capital balance ending 1,895,360.00