INCOME STATEMENT

Revenues 1,605,000.00 1,926,000.00 2,311,000.00 2,889,000.00 3,611,000.00

Less: Operating expense
Salaries expense 216,000.00 216,000.00 552,000.00 1,320,000.00 1,320,000.00
Rent expense 120,000.00 120,000.00 120,000.00 120,000.00 120,000.00
Utilities expense 133,200.00 146,500.00 161,200.00 177,300.00 195,000.00
Supplies expense 18,415.00 20,000.00 24,000.00 26,000.00 28,000.00
Advertising expense 84,000.00 72,000.00 72,000.00 72,000.00 72,000.00
Depreciation expense 38,190.00 38,190.00 88,190.00 88,190.00 104,190.00
Accounting software 67,500.00 67,500.00 - - -
SSS Premiums Expense 7,848.00 7,848.00 14,824.00 35,750.00 35,750.00
PhilHealth Premiums Expense 3,000.00 3,000.00 7,200.00 16,800.00 16,800.00
Pagibig Premiums Expense 2,400.00 2,400.00 3,600.00 7,200.00 7,200.00
Withholding Tax Expense 12,852.00 12,852.00 69,939.00 178,411.00 178,411.00
Bad debts expense 6,000.00 8,000.00 9,000.00 12,000.00 14,000.00
Start-up costs 144,140.00 - - - -
Interest expense - - 13,364.00 - -
Miscellaneous expense - - 4,260.00 450.00 450.00
Gas expense - - 72,000.00 72,000.00 72,000.00
Renovation and expansion - - - - 90,000.00
Total Operating Expenses 853,545.00 714,290.00 1,211,577.00 2,126,101.00 2,253,801.00
Net income 751,455.00 1,211,710.00 1,099,423.00 762,899.00 1,357,199.00
 STATEMENT OF CASH FLOW
Operating Activities
Net income 751,455.00 1,211,710.00 1,099,423.00 762,899.00 1,357,199.00

Depreciation 38,190.00 38,190.00 88,190.00 88,190.00 104,190.00

Adjustments:

Decrease (Increase) in office supplies (22,000.00) (2,000.00) (2,000.00) (2,000.00) (2,000.00)

Decrease (Increase) in prepaid expense (65,625.00) 5,625.00

Increase in Accounts Receivables (636,000.00) (126,400.00) (153,000.00) (228,200.00) (286,800.00)

Total cash flows from Operating
Activities 66,020.00 1,121,500.00 1,038,238.00 620,889.00 1,172,589.00
Investing Activities

Purchase of equipment (166,500.00) (80,000.00)

Purchase of furniture and fixtures (90,400.00)

Purchase of transportation equipment (350,000.00)
Total cash flows from Investing
Activities (256,900.00) (350,000.00) (80,000.00)
Financing Activities

Initial investment 600,000.00

Loans 280,000.00
Additional investment
Less: Withdrawals (50,000.00) (95,000.00) (80,000.00)
Payment for loans (280,000.00)
Total cash flows from Financing
Activities 600,000.00 (50,000.00) 280,000.00 (375,000.00) (80,000.00)
Cash beginning balance 409,120.00 1,480,620.00 2,448,858.00 2,694,747.00

Add (Less) Net Cash Provided (Used) 409,120.00 1,071,500.00 968,238.00 245,889.00 1,012,589.00
Ending Cash balance 409,120.00 1,480,620.00 2,448,858.00 2,694,747.00 3,707,336.00
 STATEMENT OF FINANCIAL POSITION
ASSETS
Cash 409,120.00 1,480,620.00 2,448,858.00 2,694,747.00 3,707,336.00
Accounts Receivable 642,000.00 770,400.00 924,400.00 1,155,600.00 1,444,400.00
Less: Allowance for Bad Debts -6,000.00 -8,000.00 -9,000.00 -12,000.00 -14,000.00
Prepaid expense 65,625.00 65,625.00 60,000.00 60,000.00 60,000.00
Office supplies 22,000.00 24,000.00 26,000.00 28,000.00 30,000.00
Current Assets 1,132,745.00 2,332,645.00 3,450,258.00 3,926,347.00 5,227,736.00

Equipments 166,500.00 166,500.00 166,500.00 166,500.00 246,500.00

Furniture and Fixtures 90,400.00 90,400.00 90,400.00 90,400.00 90,400.00
Transportation equipment 350,000.00 350,000.00 350,000.00
Accumulated Depreciation -38,190.00 -76,380.00 -164,570.00 -252,760.00 -356,950.00
Noncurrent assets 218,710.00 180,520.00 442,330.00 354,140.00 329,950.00
Total Assets 1,351,455.00 2,513,165.00 3,892,588.00 4,280,487.00 5,557,686.00

LIABILITIES
Loan Payable 280,000.00

PARTNERS' EQUITY
Baltazar, Capital 237,742.50 402,194.17 597,931.34 737,581.17 976,281.00
Arvesu, Capital 222,742.50 422,194.17 602,931.34 702,581.17 926,281.00
Batingal, Capital 222,742.50 422,194.17 602,931.34 707,581.17 931,281.00
Espiritu, Capital 222,742.50 422,194.17 602,931.34 727,581.17 936,281.00
Tacuyo, Capital 222,742.50 422,194.17 602,931.34 677,581.17 901,281.00
Villaver, Capital 222,742.50 422,194.17 602,931.34 727,581.17 886,281.00
Total Partners' Equity 1,351,455.00 2,513,165.00 3,612,588.00 4,280,487.00 5,557,686.00
Total Liabilities & Partners' Equity 1,351,455.00 2,513,165.00 3,892,588.00 4,280,487.00 5,557,686.00
 Statement of Changes in Partners' Equity
YEAR 1 Baltazar Arvesu Batingal Espiritu Tacuyo Villaver Total
Beginning capital 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 600,000.00
Add: Additional capital
Net income 137,742.50 122,742.50 122,742.50 122,742.50 122,742.50 122,742.50 751,455.00
Total 237,742.50 222,742.50 222,742.50 222,742.50 222,742.50 222,742.50 1,351,455.00
Less: Withdrawals
End Capital balance 237,742.50 222,742.50 222,742.50 222,742.50 222,742.50 222,742.50 1,351,455.00
YEAR 2
Beginning capital 237,742.50 222,742.50 222,742.50 222,742.50 222,742.50 222,742.50 1,351,455.00
Add: Additional capital
Net income 214,451.67 199,451.67 199,451.67 199,451.67 199,451.67 199,451.67 1,211,710.02
Total 452,194.17 422,194.17 422,194.17 422,194.17 422,194.17 422,194.17 2,563,165.02
Less: Withdrawals -50,000.00 -50,000.00
End Capital balance 402,194.17 422,194.17 422,194.17 422,194.17 422,194.17 422,194.17 2,513,165.02
YEAR 3
Beginning capital 402,194.17 422,194.17 422,194.17 422,194.17 422,194.17 422,194.17 2,513,165.02
Add: Additional capital
Net income 195,737.17 180,737.17 180,737.17 180,737.17 180,737.17 180,737.17 1,099,423.02
Total 597,931.34 602,931.34 602,931.34 602,931.34 602,931.34 602,931.34 3,612,588.04
Less: Withdrawals
End Capital balance 597,931.34 602,931.34 602,931.34 602,931.34 602,931.34 602,931.34 3,612,588.04
YEAR 4
Beginning capital 597,931.34 602,931.34 602,931.34 602,931.34 602,931.34 602,931.34 3,612,588.04
Add: Additional capital
Net income 139,649.83 124,649.83 124,649.83 124,649.83 124,649.83 124,649.83 762,898.98
Total 737,581.17 727,581.17 727,581.17 727,581.17 727,581.17 727,581.17 4,375,487.02
Less: Withdrawals -25,000.00 -20,000.00 -50,000.00 -95,000.00
End Capital balance 737,581.17 702,581.17 702,581.17 702,581.17 702,581.17 702,581.17 4,280,487.02
YEAR 5
Beginning capital 737,581.17 702,581.17 702,581.17 702,581.17 702,581.17 702,581.17 4,280,487.02
Add: Additional capital
Net income 238,699.83 223,699.83 223,699.83 223,699.83 223,699.83 223,699.83 1,357,198.98
Total 976,281.00 926,281.00 931,281.00 951,281.00 901,281.00 951,281.00 5,637,686.00
Less: Withdrawals -15,000.00 -65,000.00 -80,000.00
End Capital balance 976,281.00 926,281.00 926,281.00 926,281.00 926,281.00 926,281.00 5,557,686.00