LOPEZ SAMANTHA LOREIGN

LAMBENICIO, JASMINE M.
MADARANG, MARC ANDREI A.
RAMOS, ELMUND LANCE S
TAMAYAO, MAUREEN E.

Emmanuel Co., Inc.

Statement of Financial Performance
For the term ended, April 15, 202x

Sale ₱576,300.00
Less: Sales Returns and Allowances ₱2,100.00
Sales Discounts ₱3,650.00 ₱5,750.00
Net Sales ₱570,550.00

Merchandise Inventory, beginning ₱94,600.00

Add: Net Purchases
Beginning Purchases ₱412,000.00
Less: Purchase Returns and Allowances ₱1,500.00
Purchase Discount ₱3,600.00
Freight-in ₱1,920.00 ₱408,820.00
Total Goods Available for Sale ₱503,420.00
Less: Merchandise Inventory, End ₱126,700.00
Cost of Goods Sold ₱376,720.00
Gross Income ₱193,830.00
Less: Operating Expenses
Doubtful Account Expense ₱498.00
Depreciation Expense- Store ₱5,250.00
Depreciation Expense- New Office Equipment ₱66.00
Depreciation Expense- Old Office Equipment ₱3,730.00
Sales Salaries ₱20,220.00
Office Salaries ₱16,400.00
Rent Expense- Store ₱11,250.00
Rent Expense- Office ₱9,000.00
Store Supplies Expense ₱5,800.00
Office Supplies Expense ₱3,400.00
Advertising Expense ₱2,000.00
Insurance Expense ₱1,200.00
Utilities Expense ₱8,150.00
Interest Expense ₱100.00
Miscellaneous Marketing Expense ₱4,100.00
Miscellaneous Administrative Expense ₱3,700.00 ₱94,864.00
Operating Income ₱98,966.00
Add: Interest Income ₱650.00
Net Income Before Tax ₱99,616.00
Multiplied by: (1-Tax Rate) 75%
Net Income After Tax ₱74,712.00
 Emmanuel Co., Inc.
Statement of Financial Position
As of April 15, 202x
ASSETS
CURRENT ASSETS:
Cash ₱86,910.00
₱136,600.0
Accounts Receivable
0
₱132,502.0
Allowance for doubtful accounts (₱4,098.00)
0
₱126,700.0
Merchandise Inventory
0
Store Supplies ₱1,300.00
Office Supplies ₱850.00
Prepaid Insurance ₱3,600.00
Prepaid Advertising ₱4,000.00
Prepaid Interest ₱200.00
₱356,062.0
TOTAL CURRENT ASSETS
0
NON-CURRENT ASSETS:
₱150,000.0
Store furniture and Equipment
0
Accumulated depreciation- store furniture and (₱45,250.00 ₱104,750.0
equipment ) 0
₱111,200.0
Office furniture and equipment
0
Accumulated depreciation- Office furniture and (₱30,496.00
₱80,704.00
equipment )
₱185,454.0
TOTAL NON-CURRENT ASSETS
0
₱541,516.0
TOTAL ASSETS
0

LIABILITIES AND SHAREHOLDRE'S EQUITY

CURRENT LIABILITIES:
₱122,900.0
Accounts Payable
0
Rent Payable ₱1,000.00
Utilities Payable ₱1,750.00
Income Tax Payable ₱24,904.00
₱150,554.0
TOTAL CURRENT LIABILITIES
0
NON-CURRENT LIABILITIES
Loans Payable ₱30,000.00
TOTAL NON-CURRENT LIABILITIES ₱30,000.00
Shareholder's Equity
₱250,000.0
Capital Stock 0
₱110,962.0
Retained Earnings 0
₱360,962.0
TOTAL SHAREHOLDER'S EQUITY 0
₱541,516.0
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 0