GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR &HOUSE RENTING

Income statements for the Year Ended July/7/2017

Sales---------------------------------------------------------------------------------------------------15919273.24
Purchases

Purchases of the year--------------------------------------------14451121.61

Cost of goods available for sales------------------------------14451121.61
Cost of goods sold------------------------------------------------------------------------------------14410948.61
Gross profit--------------------------------------------------------------------------------------------1508324.63
Administrative Expenses
Salary expenses--------------------------------------------------------------216300
Pension expenses-----------------------------------------------------------23793
Transportation Allowance-----------------------------------------------30150
Loading & unloading expenses--------------------------------------123908
Repair & maintenance expenses------------------------------------135406.30
Packing material expenses--------------------------------------------40958.15
Fuel & Lubricant expenses-------------------------------------------523531.95
Miscellaneous expenses (yecote,yemekina etibet etc..) ---------------9679.61
Insurance & license renewed expenses--------------------------------47437.88
Accountancy expenses------------------------------------------------------10000
Telephone expenses--------------------------------------------------------4995.78
Printing & stationer expenses--------------------------------------------4921.41
Depreciation expenses----------------------------------------------------146786.03
By car accident damaged purchase amount (350 caste×114.78) --------40173
Total administrative expenses--------------------------------------------------------------------1358041.11
Net income before tax-------------------------------------------------------------------------------150283.52
Income tax ((150283.52×35%)-18000) -----------------------------------------------------------34599.23
Net income after tax----------------------------------------------------------------------------------115684.29
 GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR
Calculation of deprecation expenses for Fixed Assets July 7/2017
Name of Purchase Price Accumulated Bases of Year of depreca Rate Deprecatio Book
fixed date Deprecation deprecation Deprecatio tion n Value
Assets cost for n Method Cost
2009 E.C

Bifitu xtra 2006 E.C 5631.22 2590.36 3040.86 2009 E.C Pooling 25% 760.22 2280.64
CAR 2006 E.C 2157070.77 1428181.17 728889.60 2009 E.C Pooling 20% 145777.92 583111.68
Funiture 2006 E.C 1000 584.63 415.37 2009 E.C Pooling 20% 83.07 332.30
Computer 2006 E.C 6173.91 5514.62 659.29 2009 E.C Pooling 25% 164.82 494.45
TOTAL 2169875.9 1436870.78 916564.75 146786.03 586219.09
GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR &HOUSE RENTING

Income statements for the Year Ended July 07/2017

Rent revenue-------------------------------------------------------------------------------------------762000

Administrative Expenses

Building tax expenses------------------------------------4285.03

Land tax expenses----------------------------------------5593.18

Repair & maintenance expenses--------------------12173.91

Depreciation expenses--------------------------------366643.06

Total administrative expenses--------------------------------------------------------------------388695.18

Net income before tax------------------------------------------------------------------------------373304.82

Income tax ((373304.82×35%)-18000) --------------------------------------------------------112656.69

Net income after tax-------------------------------------------------------------------------------260648.13

GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR &HOUSE RENTING
Balance Sheet for the Year Ended July 07/2017
Assets
Current assets
Cash on hand-----------------------------------523588.34
Total current assets------------------------------------------------------------------------------523588.34
Fixed assets
Fixed assets----------------------------------9502737.14
Accumulated depreciation ----------- (1950299.87)
Book value-------------------------------7552437.27
Total fixed assets----------------------------------------------------------------------------------7552437.27
Total Assets---------------------------------------------------------------------------------------8076025.61
Liabilities
Income tax payable------------------------34599.23
Rent income tax payable----------------112656.69
Pension payable-----------------------------3492
Vat payable----------------------------------16063.19

Total liabilities----------------------------------------------166811.11
Capital
Gebre Mamo Capital--------------------7532882.08
Net income---------------------------------376332.42
Total capital-----------------------------------------------------------7909214.50
Total liabilities & capital---------------------------------------------------------------------------8076025.61
 GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR &HOUSE RENTING
Calculation of deprecation expenses for Fixed Assets July 07/2017
Name of Purchase Price Year of deprecation Rate Deprecation Book
fixed date Deprecati Method Cost Value
Assets on

Building 2009 E.C 7332861.24 2009 E.C Straight line method 5% 366643.06 6966218.18
TOTAL 7332861.24 2009 E.C Straight line method 5% 366643.06 6966218.18
GEBRE MAMO LIQUORS & SOFT DRINKS DISTRIBUTOR
&HOUSE RENTING
FINACIAL STATEMENTS FOR 2009 E.C
TIN NO. 0002579030