Pinoy Bicho

Income Statement (Year 1)

(As of Period Ending 12-31-2010)

Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Total

P80,418.0 P80,418.0 P80,418.0 P60,321.0 P60,321.0 P80,418.0 P80,418.0 P80,418.0 P80,418.0 P60,321.0 P80,418.0 P80,418.0 P904,725.00
Sales 0 0 0 0 0 0 0 0 0 0 0 0
Less: Cost of Sales 32,396.00 32,396.00 32,396.00 24,297.00 24,297.00 32,396.00 32,396.00 32,396.00 32,396.00 24,297.00 32,396.00 32,396.00 364,455.00
Gross Profit 48,022.00 48,022.00 48,022.00 36,024.00 36,024.00 48,022.00 48,022.00 48,022.00 48,022.00 36,024.00 48,022.00 48,022.00 540,270.00
Margin
Less :Operating
Expenses
Rental 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 6,500.00 78,000.00
Permit and 405.83 405.83 405.83 405.83 405.83 405.83 405.83 405.83 405.83 405.83 405.83 405.83 4,870.00
Licenses
Salaries 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 16,640.00 199,680.00
Tools and 49.72 49.72 49.72 49.72 49.72 49.72 49.72 49.72 49.72 49.72 49.72 49.72 596.67
Implements
Promotional and 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 6,000.00
Advertising
Transportation In 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 1,404.00 16,848.00
Depreciation 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 2,520.00
Utilities 650.00 650.00 650.00 650.00 650.00 650.00 650.00 650.00 650.00 650.00 650.00 650.00 7,800.00
Supplies 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 12,730.25 152,763.00

Total Operating 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 469,077.60
Expense
Net Profit Before 8,932.20 8,932.20 (3,065.80) (3,065.80) 8,932.20 8,932.20 8,932.20 8,932.20 8,932.20 (3,065.80) 8,932.20 8,932.20 71,192.40
Tax

47
 Pinoy Bicho

Income Statement (Year 2)

(As of Period Ending 12-31-2011)

Jan – Mar Apr – Jun Jul – Sept Oct – Dec Total

Sales 253,316.70 211,113.00 253,316.70 232,214.85 949,961.25

Less: Cost of Sales 102,047.40 85,039.50 102,047.40 93,543.45 382,677.75
Gross Profit Margin 151,269.30 126,073.50 151,269.30 138,671.40 567,283.50

Less Operating Expenses

Rental 21,900.00 21,900.00 21,900.00 21,900.00 87,600.00
Permit and Licenses 1,090.00 1,090.00 1,090.00 1,090.00 4,360.00
Salaries 49,920.00 49,920.00 49,920.00 49,920.00 199,680.00
Tools and Implements - - - - -
Transportation In 4,422.60 4,422.60 4,422.60 4,422.60 17,690.40
Promotional and Advertising 1,500.00 1,500.00 1,500.00 1,500.00 6,000.00
Depreciation 630.00 630.00 630.00 630.00 2,520.00
Utilities 1,950.00 1,950.00 1,950.00 1,950.00 7,800.00
Supplies 40,100.28 40,100.28 40,100.28 40,100.28 160,401.12
Total Operating Expense 121,510.88 121,510.88 121,510.88 121,510.88 486,043.52

Net Profit B4 Tax 29,758.42 4,562.62 29,758.42 17,160.52 81,239.98

Pinoy Bicho

48
 Income Statement (Year 3)

(As of Period Ending 12-31-2012)

Jan – Mar Apr – Jun Jul – Sept Oct – Dec Total

Sales 265,982.55 221,668.65 265,982.55 243,825.60 997,459.35

Less: Cost of Sales 107,149.77 89,291.47 107,149.77 98,220.62 401,811.63
Gross Profit Margin 158,832.78 132,377.18 158,832.78 145,604.98 595,647.72

Less Operating Expenses

Rental 23,250.00 23,250.00 23,250.00 23,250.00 93,000.00
Permit and Licenses 1,090.00 1,090.00 1,090.00 1,090.00 4,360.00
Salaries 49,920.00 49,920.00 49,920.00 49,920.00 199,680.00
Tools and Implements - - - - -
Transportation In 4,643.73 4,643.73 4,643.73 4,643.73 18,574.92
Promotional and Advertising 1,500.00 1,500.00 1,500.00 1,500.00 6,000.00
Depreciation 630.00 630.00 630.00 630.00 2,520.00
Utilities 1,950.00 1,950.00 1,950.00 1,950.00 7,800.00
Supplies 42,105.30 42,105.30 42,105.30 42,105.30 168,421.20
Total Operating Expense 125,089.03 125,089.03 125,089.03 125,089.03 500,356.12

Net Profit Before Tax 33,743.75 7,288.15 33,743.75 20,515.95 95,291.60

Pinoy Bicho

Income Statement 3 Years Projection

49
 (3 Years Summary)

2010 2011 2012

P904,725.00 949,961.25 997,459.35
Sales
Less: Cost of Sales 364,455.00 382,677.75 401,811.63
Gross Profit Margin 540,270.00 567,283.50 595,647.72

Less: Operating Expenses

Rental 78,000.00 87,600.00 93,000.00
Permit and Licenses 4,870.00 4,360.00 4,360.00
Salaries 199,680.00 199,680.00 199,680.00
Tools and Implements 596.67 - -
Promotional and Advertising 6,000.00 6,000.00 6,000.00
Transportation In 16,848.00 17,670.40 18,574.92
Depreciation 2,520.00 2,520.00 2,520.00
Utilities 7,800.00 7,800.00 7,800.00
Supplies 152,763.00 160,401.12 168,421.20
Total Operating Expense 469,077.60 486,043.52 500,356.12

Net Income Before Tax 71,192.40 81,239.98 95,291.60

Less: Provision For Income Tax (30%) 21,357.72 24,371.99 28,587.48

Net Income After Tax 49,834.68 56,867.99 66,704.12

50
 Pinoy Bicho

Cash Flow (Year 1)

(For the Year Ended 12-31-2010)

Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

Cash Inflow
Cash Sales 80,418.00 80,418.00 80,418.00 60,321.00 60,321.00 80,418.00 80,418.00 80,418.00 80,418.00 60,321.00 80,418.00 80,418.00
Other Cash Receipts - - - - - - - - - - - -

51
Total 80,418.00 80,418.00 80,418.00 60,321.00 60,321.00 80,418.00 80,418.00 80,418.00 80,418.00 60,321.00 80,418.00 80,418.00

Cash Output
Cash Purchases 31,136.50 31,136.50 31,136.50 25,548.50 25,548.50 31,136.50 31,136.50 31,136.50 31,136.50 25,548.50 31,136.50 31,136.50
Operating Expenses 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80 39,089.80
Acquisition Of Fixed Assets 28,000.00 - - - - - - - - - - -
Remittance of Income Tax 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75 1,350.75
Remittance of Vat 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14 1,225.14
Total 100,802.19 72,802.19 72,802.19 67,214.19 67,214.19 72,802.19 72,802.19 72,802.19 72,802.19 67,214.19 72,802.19 72,802.19

Net Cash Flow (outflow) (20,384.19 7,615.81 7,615.81 (6,893.19) (6,893.19) 7,615.81 7,615.81 7,615.81 7,615.81 (6,893.19) 7,615.81 7,615.81
)
Cash Beginning Balance 120,000.00 99,615.81 107,231.62 114,847.43 107,954.24 101,061.05 108,676.86 116,292.67 123,908.48 131,524.29 124,631.10 132,246.91
Ending Cash Balance 99,615.81 107,231.62 114,847.43 107,954.24 101,061.05 108,676.86 116,292.67 123,908.48 131,524.29 124,631.10 132,246.91 139,862.72

Pinoy Bicho

Cash Flow Year 2

(For the Year Ended 12-31-2011)

Jan- Mar Apr- Jun Jul- Sept Oct- Dec

Cash Inflow
Cash Sales 253,316.70 211,113.00 253,316.70 232,214.85
Other Cash Receipts - - - -

52
Total 253,316.70 211,113.00 253,316.70 232,214.85

Cash Output
Cash Purchases 98,079.99 86,345.19 98,079.99 92,212.59
Operating Expenses 121,510.88 121,510.88 121,510.88 121,510.88
Acquisition Of Fixed Assets - - -
Remittance of Income Tax 4,052.25 4,052.25 4,052.25 4,052.25
Remittance of Vat 4,825.73 4,825.73 4,825.73 4,825.73
Total 228,468.85 216,734.05 228,468.85 222,601.45

Net Cash Flow (outflow) 24,847.85 (5,621.05) 24,847.85 9,613.40

Cash Beginning Balance 139,862.72 164,710.57 159,089.52 183,937.37

Pinoy Bicho

Cash Flow Year 3

(For the Year Ended 12-31-2012)

Jan- Mar Apr- Jun Jul- Sept Oct- Dec

Cash Inflow
Cash Sales 265,982.55 221,668.65 265,982.55 243,825.60
Other Cash Receipts - - - -
Total 265,982.55 221,668.65 265,982.55 243,825.60
53
Cash Output
Cash Purchases 102,984.00 90,662.46 102,984.00 96,823.23
Operating Expenses 125,089.03 125,089.03 125,089.03 125,089.03
Acquisition Of Fixed Assets - - -
Remittance of Income Tax 4,052.25 4,052.25 4,052.25 4,052.25
Remittance of Vat 5,320.79 5,320.79 5,320.79 5,320.79
Total 237,446.07 225,124.53 237,446.07 231,285.30

Net Cash Flow (outflow) 28,536.48 (3,455.88) 28,536.48 12,540.30

Cash Beginning Balance 193,550.77 222,087.25 218,631.37 247,167.85
Ending Cash Balance 222,087.25 218,631.37 247,167.85 259,708.15

Projected Cash Flow

Summary

2010 2011 2012

Cash Inflow
Cash Sales 904,725 949,961.25 997,459.35
Other Cash Receipts - - -
Total 904,725 949,961.25 997,459.35

Cash Output
Cash Purchases 356,874.00 374,717.76 393,453.69

54
 Operating Expenses 469,077.60 486,043.52 500,356.12
Acquisition Of Fixed Assets 28,000.00 - -
Remittance of Income Tax 16,209.00 16,209.00 16,209.00
Remittance of Vat 14,701.68 19,302.93 21,283.16
Total 884,862.28 896,273.21 931,301.97

Net Cash Flow (outflow) 19,862.72 53,688.04 66,157.38

Cash Beginning Balance 120,000.00 139,862.72 193,550.77
Ending Cash Balance 139,862.72 193,550.77 259,708.15

Balance Sheet

Assets 2010 2011 2012

Cash P 139,862.72 P 193,550.77 P 259,708.15

Inventory - - -

Total Current Assets 139,862.72 193,550.77 259,708.15

Fixed Assets 28,000.00 28,000.00 28,000.00

Less: Accumulated Depreciation 2,520.00 5,040.00 7,560.00

Net Fixed Assets 25,520.00 22,680.00 20,160.00

55
Total Assets 165,382.72 216,230.77 279,868.15

Liabilities and Partners Equity

Accrued Salaries Expense 16,640.00 17,472.00 18,345.60

Total Liabilities 16,640.00 17,472.00 18,345.60

Owners Equity

Dumalay, Capital 30,000.00 34,693.45 47,018.30

Add:Share in Net Income 9,966.94 11,337.60 13,340.82

Fernando, Capital 30,000.00 34,693.45 47,018.30

Add:Share in Net Income 9,966.94 11,337.60 13,340.82

Suacillo, Capital 30,000.00 34,693.45 47,018.30

Add:Share in Net Income 9,966.94 11,337.60 13,340.82

Tumpalan, Capital 30,000.00 34,693.45 47,018.30

Add:Share in Net Income 9,966.94 11,337.60 13,340.82

Add: Net Income for expansion 9,966.94 11,337.60 13,340.82

Total Partner Equity 186,476.68 212,281.79 271,417.32

Less: Dumalay, Withdrawal 5,273.49 0 0

Additional Investment Dumalay 0 987.25 2,112.71

Fernando, Withdrawal 5,273.49 0 0

56
Additional Investment Fernado 0 987.25 2,112.71

Suacillo, Withdrawal 5,273.49 0 0

Additional Investment Suacillo 0 987.25 2,112.71

Tumpalan, Withdrawal 5,273.49 0 0

Additional Investment Tumpalan 0 987.25 2,112.71

Total Withdrawals 21,093.96 0 0

Total additional Investment 0 3,949.00 8,450.84

Total liabilities and Owner’s equity 165,382.72 216,230.77 279,868.15

Financial Ratio Analysis

Liquidity Ratio Analysis

Current ratio = current assets / current liabilities

Year current assets current liabilities Current ratio

2010 139,862.72 16,640.00 8.41

2011 193,550.77 17,472.00 11.08

2012 259,708.15 18,345.60 14.16

57
 Networking = capital current asset – current liabilities

Year capital current asset current liabilities Networking

2010 139,862.72 16,640.00 8.41

2011 193,550.77 17,472.00 11.08

2012 259,708.15 18,345.60 14.16

Profitability Ratio Analysis

Gross profit margin = operating profit / net sales

Year operating profit net sales Gross profit margin

2010 71,192.40 904,725.00 0.08

2011 81,239.98 949,961.25 0.09

2012 95,291.60 997,459.35 0.10

58
 Net profit margin = net profit after tax / net sales

Year net profit after tax net sales Net profit margin

2010 49,834.68 904,725.00 0.06

2011 56,867.99 949,961.25 0.06

2012 66,704.12 997,459.35 0.07

Operating profit margin = operating profit / net sales

Year operating profit net sales Operating profit margin

2010 71,192.40 904,725.00 0.08

2011 81,239.98 949,961.25 0.09

2012 95,291.60 997,459.35 0.10

59
 Return on investment = net profit after tax / total sales

Year net profit after tax total sales Return on investment

2010 49,834.68 904,725.00 0.06

2011 56,867.99 949,961.25 0.06

2012 66,704.12 997,459.35 0.07

Return on equity = net profit after tax / equity

Year net profit after tax equity Return on equity

2010 49,834.68 148,740.32 0.33

2011 56,867.99 199,410.80 0.29

2012 66,704.12 246,326.46 0.27

Activity Ratio Analysis

60
 Inventory turnover = cost of goods sold / inventory

Year cost of goods sold inventory Inventory turnover

2010 364,455.00 364,455.00 1.00

2011 382,677.75 382,677.75 1.00

2012 401,811.63 401,811.63 1.00

Average age of inventory = 360 / inventory turnover

Year 360 inventory turnover Average age of inventory

2010 360 1.00 360

2011 360 1.00 360

2012 360 1.00 360

Fixed asset turn over= net profit after tax / net fixed assets

61
Year net profit after tax net fixed assets Fixed asset turn over

2010 49,834.68 25,520.00 1.95

2011 56,867.99 22,680.00 2.51

2012 66,704.12 20,160.00 3.31

Total asset turn over = net profit after tax / total assets

Year net profit after tax total assets Total asset turn over

2010 49,834.68 165,382.72 0.30

2011 56,867.99 216,230.77 0.26

2012 66,704.12 279,868.00 0.24

Debt Ratio Analysis

62
 Debt Ratio = Total liabilities / total assets

Year Total liabilities total assets Debt Ratio

2010 16,640.00 165,382.72 0.10

2011 17,472.00 216,230.77 0.08

2012 18,345.60 279,868.00 0.07

63