GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR

Income statements for the Year Ended July/7/2016

Sales---------------------------------------------------------------------------------------------------14169342.64

Rent revenue------------------------------------------------------------------------------------------522000

TOTAL REVENUE-------------------------------------------------------------------------------------14691342.64

Purchases

Purchases of the year--------------------------------------------12706898.10

Cost of goods available for sales------------------------------12706898.10

Cost of goods sold------------------------------------------------------------------------------------12706898.10

Gross profit--------------------------------------------------------------------------------------------1984444.54

Administrative Expenses

Salary expenses--------------------------------------------------------------287559.90

Pension expenses------------------------------------------------------------18431.59

Transportation Allowance--------------------------------------------------26085.43

Loading & unloading & Car Yecote expenses---------------------------109189

Repair & maintenance expenses---------------------------------------125189.62

Packing material expenses------------------------------------------------89042.55

Fuel & Lubricant expenses-----------------------------------------------444821.90

Bank services expenses-----------------------------------------------------1640

Insurance & license renewed expenses--------------------------------40487.84

Accountancy expenses------------------------------------------------------26086.96

Telephone expenses--------------------------------------------------------4142.56

Printing & stationer expenses--------------------------------------------955.22

Depreciation expenses----------------------------------------------------183559.63

Land &Building tax expenses---------------------------------------------9878.21

Depreciation expenses of rent (522000×20%) -------------------------104400

Total administrative expenses------------------------------------------------------------------------1471470.41

Net income before tax----------------------------------------------------------------------------------512974.13

Income tax ((512974.13×35%)-7950) ---------------------------------------------------------------171590.95

Paid income tax------------------------------------------------------------------------------------------- (29569.12)

Remaining income tax-------------------------------------------------------------------------142021.83

Net income after tax---------------------------------------------------------------------------------------341383.18
GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR
Balance Sheet for the Year Ended July/7/2016
Assets
Current assets
Cash on hand------------------------------1435628.94
Prepaid insurance------------------------20732.88
Total current assets-------------------------------------------------------------------------------1456361.82
Fixed assets
Fixed assets----------------------------------------------2169875.90
Accumulated dep. Of fixed assets---------------- (1436870.78)
Book value---------------------------------------------------------------733005.12
Total fixed assets-------------------------------------------------------------------------------------733005.12
Total Assets----------------------------------------------------------------------------------------------2189366.94
Liabilities
Income tax payable----------------------------------------171590.95
Employee income tax payable--------------------------2275
Pension payable--------------------------------------------2826
Vat payable-------------------------------------------------17862.39

Total liabilities------------------------------------------------------------------------194554.34
Capital
Gebre Mamo Capital--------------------------------------------------1653429.42
Net income---------------------------------------------------------------341383.18
Total capital----------------------------------------------------------------------------1994812.60
Total liabilities & capital-----------------------------------------------------------------------------2189366.94
 GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR
Calculation of deprecation expenses for Fixed Assets July 7/2016
Name of Purchase Price Accumulated Bases of Year of deprecati Rate Deprecatio Book
fixed date Deprecation deprecatio Deprecati on n Value
Assets n cost for on Method Cost
2008 E.C

Bifitu xtra 2006 E.C 5631.22 1576.74 4054.48 2008 E.C Pooling 25% 1013.62 3040.86
CAR 2006 E.C 2157070.7 1245958.77 911112 2008 E.C Pooling 20% 182222.40 728889.60
7
Funiture 2006 E.C 1000 480.79 519.21 2008 E.C Pooling 20% 103.84 415.37
Computer 2006 E.C 6173.91 5294.85 879.06 2008 E.C Pooling 25% 219.77 659.29
TOTAL 2169875.9 1253311.15 916564.75 183559.63 733005.12
GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR
Trial balance statements for the Year Ended July/7/2016
Acct. descriptions Debit Credit
Purchases----------------------------------------------------12706898.10
Cash on hand-----------------------------------------------1435628.94
Prepaid insurance------------------------------------------20732.88
Fixed assets----------------------------------------------2169875.90
Salary expenses--------------------------------------------------------------287559.90

Pension expenses------------------------------------------------------------18431.59

Transportation Allowance--------------------------------------------------26085.43

Loading & unloading & Car Yecote expenses---------------------------109189

Repair & maintenance expenses---------------------------------------125189.62

Packing material expenses------------------------------------------------89042.55

Fuel & Lubricant expenses-----------------------------------------------444821.90

Bank services expenses-----------------------------------------------------1640

Insurance & license renewed expenses--------------------------------40487.84

Accountancy expenses------------------------------------------------------26086.96

Telephone expenses--------------------------------------------------------4142.56

Printing & stationer expenses--------------------------------------------955.22

Depreciation expenses----------------------------------------------------183559.63

Land &Building tax expenses---------------------------------------------9878.21

Depreciation expenses of rent (522000×20%) -------------------------104400

Accumulated dep. Of fixed assets-------------------------------------------------------------------- 1436870.78

Employee income tax payable-------------------------------------------------------------------2275

Pension payable-------------------------------------------------------------------------------------2826
Vat payable-----------------------------------------------------------------------------------------17862.39
Capital----------------------------------------------------------------------------------------------1653429.42

Sales---------------------------------------------------------------------------------14691342.64
TOTAL 17804606.23 17804606.23
 GEBRE MAMO
LIQUORS & SOFT DRINKS DISTRIBUTOR
FINACIAL STATEMENTS FOR 2008 E.C
TIN NO. 0002579030