YIN GANG MOTORCYCLE PHILS. LTD., INC.

CASH ANALYSIS
December 31, 2016

CASH, BEGINNING 4,377,997.75

Add: CASH INFLOW

Sales 510,903,416.34
Output Tax 61,308,409.96 572,211,826.30

576,589,824.05
Less: CASH OUTFLOW
Purchases - Local 474,959,561.65
Input Tax 57,639,726.08
Rental Expense 1,350,000.00
Salaries and Wages 5,786,535.63
Gasoline and Oil 2,932,870.78
Transportation Expense 287,726.50
Taxes and Licenses 1,352,549.14
SSS, ECC, PHIC and Pag-ibig Fund Contribution 456,745.90
Office Supplies 64,517.86
Insurance Expense 365,095.39
Repairs and Maintenance 160,600.13
Representation and entertainment 54,488.83
Miscellaneous Expense 7,585.63
Other Outside Services 34,020.00
Trainings and Seminars 120,239.86
VAT Payments 3,668,683.89
Provision for Income Tax 4,077,988.41

Accounts Receivable, End. 7,062,538.40

Creditable Input Tax, End. -
Rental Deposit, End. 225,000.00
Accounts Payable, Beg. 36,848,524.11
Accrued Expenses, Beg. 170,712.15
SSS, ECC, PHIC and Pag-ibig Fund Cont. Payable, Beg. 57,410.00
Withholding Tax Payable, Beg. 806,792.28
Value-Added Tax Payable, Beg. -
Income Tax Payable, Beg. 474,546.18 598,964,458.80

Accounts Receivable, Beg. 4,485,661.00

Creditable Input Tax, Beg. 441,442.77
Rental Deposit, Beg. 225,000.00
Accounts Payable, End. 22,625,335.80
Accrued Expenses, End. 138,254.00
SSS, ECC, PHIC and Pag-ibig Fund Cont. Payable, 81,235.00
Withholding Tax Payable, End. 65,169.35
Value-Added Tax Payable, End. 592,237.79
Income Tax Payable, End. 265,324.42 28,919,660.13 570,044,798.67

CASH, ENDING 6,545,025.38

YIN GANG MOTORCYCLE PHILS. LTD., INC.
CASH FLOW STATEMENT
December 31, 2016

1 2 3 4 5 6 7 8 9 10 11 12
CASH INFLOW
Cash 4,377,997.75 3,739,854.40 3,402,884.76 3,475,782.70 5,152,780.07 9,789,350.81 5,768,068.62 5,718,538.18 9,861,680.06 10,848,924.44 9,786,576.80 6,384,612.11
Sales 53,605,352.68 37,706,864.73 38,851,571.43 49,512,146.34 37,511,249.55 46,966,931.52 36,450,513.39 51,844,668.04 37,098,144.55 33,768,355.45 37,112,581.70 50,475,036.96
Output tax 6,432,642.32 4,524,823.77 4,662,188.57 5,941,457.56 4,501,349.95 5,636,031.78 4,374,061.61 6,221,360.16 4,451,777.35 4,052,202.65 4,453,509.80 6,057,004.44
TOTAL 64,415,992.75 45,971,542.90 46,916,644.76 58,929,386.60 47,165,379.56 62,392,314.12 46,592,643.61 63,784,566.38 51,411,601.95 48,669,482.54 51,352,668.30 62,916,653.51

CASH OUTFLOW
Purchases - Local 51,799,553.57 33,990,031.25 35,971,770.45 46,414,491.07 35,482,276.79 43,667,358.21 34,174,517.86 49,230,428.57 34,700,750.00 32,230,017.81 32,298,366.07 45,000,000.00
Input Tax 6,257,616.34 4,109,302.05 4,357,349.89 5,603,937.21 4,272,051.93 5,321,111.84 4,155,383.48 5,921,151.43 4,246,831.80 3,926,742.43 4,003,481.03 5,464,766.64
Rental Expense 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00 112,500.00
Salaries and Wages 308,000.00 396,000.00 381,000.00 381,000.00 358,500.00 396,000.00 388,500.00 381,000.00 576,100.00 596,712.50 596,712.50 1,027,010.63
Gasoline and Oil 160,741.88 128,758.62 226,978.61 172,485.70 - 435,530.49 - - 520,490.01 296,921.60 575,019.73 415,944.14
Transportation Expense - - - - - - 287,726.50 - - - - -
Taxes and Licenses 426,315.37 - - 308,744.59 - - 308,744.59 - - 308,744.59 - -
SSS, PHIC and HDMF Contributions 31,234.30 33,422.70 31,897.70 31,897.70 29,610.20 33,422.70 32,660.20 31,897.70 48,714.70 50,597.10 50,597.10 50,793.80
Office Supplies - - - - - - 4,517.86 - - - 60,000.00 -
Insurance Expense - - - - - - 36,150.00 - 56,525.00 - 272,420.39 -
Repairs and Maintenance 10,794.64 - - - 11,312.00 6,970.09 12,783.48 - - 63,426.34 44,035.71 11,277.87
Representation and Entertainment 21,607.14 12,893.89 - - - - - - - 19,987.80 - -
Miscellaneous Expense 7,585.63 - - - - - - - - - - -
Other Outside Services 34,020.00 - - - - - - - - - - -
Trainings and Seminars - - - - - 120,239.86 - - - - - -
Vat Payments 343,990.87 246,556.82 304,838.68 337,520.35 229,298.01 314,919.95 218,678.12 300,208.74 204,945.55 125,460.23 450,028.78 592,237.79
Provision for Income Tax - - 959,423.40 - - 856,327.20 - - 1,059,218.07 - - 1,203,019.74

Accounts Receivable, End. 12,203,951.55 10,654,578.65 10,096,489.91 12,452,599.75 9,665,086.87 10,324,376.02 8,337,307.67 8,431,403.17 9,354,125.27 8,463,735.52 7,051,629.58 7,062,538.40
Creditable Input Tax, End -
Rental Deposit, End. 225,000.00
Accounts Payable, Beg. 36,848,524.11 44,122,078.39 39,026,918.89 37,338,856.49 39,287,082.92 39,716,257.77 34,903,987.71 31,868,591.85 34,059,896.52 35,856,791.02 33,882,765.47 25,862,457.75
Accrued Expenses, Beg. 170,712.15 125,575.51 132,169.29 167,039.61 160,893.12 63,725.57 175,419.62 81,803.78 38,894.73 128,119.94 59,960.40 163,267.30
SSS, PHIC & Pag-Ibig Fund Payable, Beg. 57,410.00
Withholding Tax Payable, Beg. 806,792.28
Value-Added Tax Payable, Beg. -
Income Tax Payable, Beg. 474,546.18
110,075,896.01 93,931,697.87 91,601,336.82 103,321,072.48 89,608,611.84 101,368,739.69 83,148,877.08 96,358,985.24 84,978,991.65 82,179,756.88 79,457,516.75 87,190,814.06

Accounts Receivable, Beg. 4,485,661.00 12,203,951.55 10,654,578.65 10,096,489.91 12,452,599.75 9,665,086.87 10,324,376.02 8,337,307.67 8,431,403.17 9,354,125.27 8,463,735.52 7,051,629.58
Creditable Input Tax, Beg. 441,442.77
Rental Deposit, Beg. 225,000.00
Accounts Payable, End. 44,122,078.39 39,026,918.89 37,338,856.49 39,287,082.92 39,716,257.77 34,903,987.71 31,868,591.85 34,059,896.52 35,856,791.02 33,882,765.47 25,862,457.75 22,625,335.80
Accrued Expenses, End. 125,575.51 132,169.29 167,039.61 160,893.12 63,725.57 175,419.62 81,803.78 38,894.73 128,119.94 59,960.40 163,267.30 138,254.00
SSS, PHIC & Pag-Ibig Fund Payable, End. 81,235.00
Withholding Tax Payable, End. 65,169.35
Value-Added Tax Payable, End. 592,237.79
Income Tax Payable, End. 265,324.42
49,399,757.66 51,363,039.73 48,160,474.75 49,544,465.95 52,232,583.08 44,744,494.19 42,274,771.65 42,436,098.92 44,416,314.13 43,296,851.14 34,489,460.57 30,819,185.94

TOTAL CASH OUTFLOW 60,676,138.35 42,568,658.14 43,440,862.06 53,776,606.53 37,376,028.75 56,624,245.50 40,874,105.43 53,922,886.33 40,562,677.51 38,882,905.74 44,968,056.19 56,371,628.12

CASH ENDING BALANCE 3,739,854.40 3,402,884.76 3,475,782.70 5,152,780.07 9,789,350.81 5,768,068.62 5,718,538.18 9,861,680.06 10,848,924.44 9,786,576.80 6,384,612.11 6,545,025.39
YIN GANG MOTORCYCLE PHILS. LTD., INC.
WORKSHEET
December 31, 2016

CASH BALANCE ACCOUNTS RECEIVABLE MERCHANDISE INVENTORY CREDITABLE INPUT TAX DEPOSIT - RENTAL LEASEHOLD IMPROVEMENTS ACCUMULATED DEPRECIATION
LEASEHOLD IMPROVEMENTS
DR CR DR CR DR CR DR CR DR CR DR CR DR CR
BAL. 4,377,997.75 4,377,997.75 4,485,661.00 61,625,275.00 441,442.77 225,000.00 50,714,285.71 20,773,211.14
JAN. 60,037,995.00 60,676,138.35 3,739,854.40 60,037,995.00 52,319,704.45 61,625,275.00 441,442.77 225,000.00
FEB. 42,231,688.50 42,568,658.14 3,402,884.77 42,231,688.50 43,781,061.40
MAR. 43,513,760.00 43,440,862.06 3,475,782.71 43,513,760.00 44,071,848.74
APR 55,453,603.90 53,776,606.53 5,152,780.09 55,453,603.90 53,097,494.06
MAY 42,012,599.50 37,376,028.75 9,789,350.83 42,012,599.50 44,800,112.38
JUN. 52,602,963.30 56,624,245.50 5,768,068.64 52,602,963.30 51,943,674.15
JUL 40,824,575.00 40,874,105.43 5,718,538.20 40,824,575.00 42,811,643.35
AUG. 58,066,028.20 53,922,886.33 9,861,680.08 58,066,028.20 57,971,932.70
SEP. 41,549,921.90 40,562,677.51 10,848,924.46 41,549,921.90 40,627,199.80
OCT. 37,820,558.10 38,882,905.74 9,786,576.82 37,820,558.10 38,710,947.85
NOV. 41,566,091.50 44,968,056.19 6,384,612.13 41,566,091.50 42,978,197.45
DEC. 56,532,041.40 56,371,628.12 6,545,025.41 56,532,041.40 56,521,132.57 63,149,180.00 - 225,000.00 5,071,428.57
BAL. 6,545,025.39 7,062,538.40 63,149,180.00 - 225,000.00 50,714,285.71 25,844,639.71

### ### ### ### ### ### 441,442.77 441,442.77 450,000.00 450,000.00 50,714,285.71 50,714,285.71 25,844,639.71 25,844,639.71

MANUFACTURING/MACHINERIES/ ACCUMULATED DEPRECIATION DELIVERY & TRANSPORTATION ACCUMULATED DEPRECIATION FURNITURES & FIXTURES ACCUMULATED DEPRECIATION ACCOUNTS PAYABLE ACCRUED EXPENSES
TOOS EQUIPMENT MANUFACTURING / TOOLS EQUIP. EQUIPMENT DELIVERY & TRANSPO. EQUIP. FURNITURES & FIXTURES
DR CR DR CR DR CR DR CR DR CR DR CR DR CR DR CR
BAL. 27,404,716.50 11,561,886.60 12,700,000.00 9,920,000.00 2,393,248.09 1,832,481.09 36,848,524.11 170,712.15
JAN. 50,741,945.72 58,015,500.00 225,167.55 180,030.91
FEB. 43,163,994.50 38,068,835.00 137,615.87 144,209.65
MAR 41,976,445.30 40,288,382.90 219,345.72 254,216.04
APR 50,036,003.57 51,984,230.00 199,330.48 193,183.98
MAY 39,310,975.16 39,740,150.00 97,167.55 -
JUN. 53,719,711.25 48,907,441.20 376,100.10 487,794.15
JUL 41,310,855.86 38,275,460.00 93,615.84 -
AUG. 52,946,775.33 55,138,080.00 42,909.05 -
SEP. 37,067,945.50 38,864,840.00 493,723.60 582,948.81
OCT. 38,071,645.50 36,097,619.95 400,711.73 332,552.19
NOV. 44,194,477.72 36,174,170.00 540,715.20 644,022.10
DEC. 2,890,471.65 2,480,000.00 459,589.09 53,637,121.95 50,400,000.00 490,870.73 465,857.44
BAL. 27,404,716.50 14,452,358.25 12,700,000.00 12,400,000.00 2,393,248.09 2,292,070.18 22,625,335.80 138,254.00

27,404,716.50 27,404,716.50 14,452,358.25 14,452,358.25 12,700,000.00 12,700,000.00 12,400,000.00 12,400,000.00 2,393,248.09 2,393,248.09 2,292,070.18 2,292,070.18 ### ### 3,455,527.42 3,455,527.42
YIN GANG MOTORCYCLE PHILS. LTD., INC.
WORKSHEET
December 31, 2016

SSS, PHIC & HDMF PAYABLE W/HOLDING TAX PAYABLE VALUE-ADDED TAX PAYABLE INCOME TAX PAYABLE AUTHORIZED CAPITAL STOCK SUBSCRIBED CAPITAL STOCK PAID-UP CAPITAL STOCK RETAINED EARNINGS

DR CR DR CR DR CR DR CR DR CR DR CR DR CR DR CR
BAL. 57,410.00 806,792.28 - 474,546.18 150,000,000.00 37,500,000.00 32,500,000.00 49,422,063.19
JAN. 57,410.00 806,792.28 - 474,546.18
FEB.
MAR
APR
MAY
JUN.
JUL
AUG.
SEP.
OCT.
NOV.
DEC. 81,235.00 65,169.35 592,237.79 265,324.42 9,515,306.31
BAL. 81,235.00 65,169.35 592,237.79 265,324.42 150,000,000.00 37,500,000.00 32,500,000.00 58,937,369.50

138,645.00 138,645.00 871,961.63 871,961.63 592,237.79 592,237.79 739,870.60 739,870.60 ### ### 37,500,000.00 37,500,000.00 32,500,000.00 32,500,000.00 58,937,369.50 58,937,369.50

SALES OUTPUT TAX PURCHASES - LOCAL INPUT TAX RENTAL EXPENSE SALARIES AND WAGES GASOLINE AND OIL TRANSPORTATION AND
DELIVERY CHARGES
DR CR DR CR DR CR DR CR DR CR DR CR DR CR DR CR
BAL.
JAN. 53,605,352.68 6,432,642.32 51,799,553.57 6,257,616.34 112,500.00 308,000.00 160,741.88 -
FEB. 37,706,864.73 4,524,823.77 33,990,031.25 4,109,302.05 112,500.00 396,000.00 128,758.62 -
MAR 38,851,571.43 4,662,188.57 35,971,770.45 4,357,349.89 112,500.00 381,000.00 226,978.61 -
APR 49,512,146.34 5,941,457.56 46,414,491.07 5,603,937.21 112,500.00 381,000.00 172,485.70 -
MAY 37,511,249.55 4,501,349.95 35,482,276.79 4,272,051.93 112,500.00 358,500.00 - -
JUN. 46,966,931.52 5,636,031.78 43,667,358.21 5,321,111.84 112,500.00 396,000.00 435,530.49 -
JUL 36,450,513.39 4,374,061.61 34,174,517.86 4,155,383.48 112,500.00 388,500.00 - 287,726.50
AUG. 51,844,668.04 6,221,360.16 49,230,428.57 5,921,151.43 112,500.00 381,000.00 - -
SEP. 37,098,144.55 4,451,777.35 34,700,750.00 4,246,831.80 112,500.00 576,100.00 520,490.01 -
OCT. 33,768,355.45 4,052,202.65 32,230,017.81 3,926,742.43 112,500.00 596,712.50 296,921.60 -
NOV. 37,112,581.70 4,453,509.80 32,298,366.07 4,003,481.03 112,500.00 596,712.50 575,019.73 -
DEC. 510,903,416.34 50,475,036.96 61,308,409.96 6,057,004.44 45,000,000.00 474,959,561.65 5,464,766.64 57,639,726.07 112,500.00 1,350,000.00 1,027,010.63 5,786,535.63 415,944.14 2,932,870.78 - 287,726.50
BAL.

### ### 61,308,409.96 61,308,409.96 ### ### 57,639,726.07 57,639,726.07 1,350,000.00 1,350,000.00 5,786,535.63 5,786,535.63 2,932,870.78 2,932,870.78 287,726.50 287,726.50
YIN GANG MOTORCYCLE PHILS. LTD., INC.
WORKSHEET
December 31, 2016

TAXES AND LICENSES SSS, PHIC & HDMF OFFICE SUPPLIES INSURANCE EXPENSE REPAIRS AND MAINTENANCE REPRESENTATION & MISCELLANEOUS EXPENSE OTHER OUTSIDE
CONTRIBUTIONS ENTERTAINMENT SERVICES
DR CR DR CR DR CR DR CR DR CR DR CR DR CR DR CR
BAL.
JAN. 426,315.37 31,234.30 - - 10,794.64 21,607.14 7,585.63 34,020.00
FEB. - 33,422.70 - - - 12,893.89 - -
MAR - 31,897.70 - - - - - -
APR 308,744.59 31,897.70 - - - - - -
MAY - 29,610.20 - - 11,312.00 - - -
JUN. - 33,422.70 - - 6,970.09 - - -
JUL 308,744.59 32,660.20 4,517.86 36,150.00 12,783.48 - - -
AUG. - 31,897.70 - - - - - -
SEP. - 48,714.70 - 56,525.00 - - - -
OCT. 308,744.59 50,597.10 - - 63,426.34 19,987.80 - -
NOV. - 50,597.10 60,000.00 272,420.39 44,035.71 - - -
DEC. - 1,352,549.14 50,793.80 456,745.90 - 64,517.86 - 365,095.39 11,277.87 160,600.13 - 54,488.83 - 7,585.63 - 34,020.00
BAL.

1,352,549.14 1,352,549.14 456,745.90 456,745.90 64,517.86 64,517.86 365,095.39 365,095.39 160,600.13 160,600.13 54,488.83 54,488.83 7,585.63 7,585.63 34,020.00 34,020.00

TRAINING AND SEMINARS VAT PAYMENTS PROVISION FOR DEPRECIATION EXPENSE- DEPRECIATION EXPENSE- DEPRECIATION EXPENSE- DEPRECIATION EXPENSE-
INCOME TAX LEASEHOLD IMPROVEMENTS MFG./TOOLS EQUIPMENT DELIVERY & TRANSPO. EQUIP. FURNITURES & FIXTURES
DR CR DR CR DR CR DR CR DR CR DR CR DR CR
BAL.
JAN. - 343,990.87
FEB. - 246,556.82
MAR - 304,838.68 959,423.40
APR - 337,520.35 959,423.40
MAY - 229,298.01
JUN. 120,239.86 314,919.95 856,327.20
JUL - 218,678.12 856,327.20
AUG. - 300,208.74
SEP. - 204,945.55 1,059,218.07
OCT. - 125,460.23 1,059,218.07
NOV. - 450,028.78
DEC. - 120,239.86 592,237.79 3,668,683.89 1,203,019.74 5,071,428.57 5,071,428.57 2,890,471.65 2,890,471.65 2,480,000.00 2,480,000.00 459,589.09 459,589.09
BAL. 1,203,019.74

120,239.86 120,239.86 3,668,683.89 3,668,683.89 4,077,988.41 4,077,988.41 5,071,428.57 5,071,428.57 2,890,471.65 2,890,471.65 2,480,000.00 2,480,000.00 459,589.09 459,589.09
YIN GANG MOTORCYCLE PHILS. LTD., INC.
SCHEDULE OF INPUT TAX
December 31, 2016

PURCHASES PURCHASES INPUT TAX RENTAL EXPENSE INPUT TAX TRANSPORTATION INPUT TAX LIGHT & WATER INPUT TAX INSURANCE INPUT TAX TOTAL VAT TOTAL INPUT TAX TOTAL NON-VAT
LOCAL LOCAL NV EXPENSE EXPENSE

BAL.
JAN. 79,144.64 - 9,497.36 112,500.00 13,500.00 151,854.24 18,222.51 - - - - 343,498.88 41,219.87 -
FEB. - - - 112,500.00 13,500.00 - - - - - - 112,500.00 13,500.00 -
MAR - - - 112,500.00 13,500.00 - - - - - - 112,500.00 13,500.00 -
APR 17,820.00 - 2,138.40 112,500.00 13,500.00 240,672.54 28,880.70 - - 50,065.00 6,007.80 421,057.54 50,526.90 -
MAY 5,939.29 - 712.71 112,500.00 13,500.00 149,971.45 17,996.57 - - - - 268,410.74 32,209.29 -
JUN. - - - 112,500.00 13,500.00 - - - - - - 112,500.00 13,500.00 -
JUL. 25,494.64 4,750.00 3,059.36 112,500.00 13,500.00 484,903.90 58,188.47 - - - - 622,898.54 74,747.82 4,750.00
AUG. - - - 112,500.00 13,500.00 - - - - - - 112,500.00 13,500.00 -
SEP. 93,586.61 - 11,230.39 112,500.00 13,500.00 381,252.74 45,750.33 47,805.00 5,736.60 - - 635,144.35 76,217.32 -
OCT. 25,175.00 - 3,021.00 112,500.00 13,500.00 - - - - 14,160.00 1,699.20 151,835.00 18,220.20 -
NOV. 5,939.29 - 712.71 112,500.00 13,500.00 166,478.37 19,977.40 246,000.00 29,520.00 - - 530,917.66 63,710.12 -
DEC. - - - 112,500.00 13,500.00 53,761.82 6,451.42 - - - - 166,261.82 19,951.42 -
BAL.

253,099.47 4,750.00 30,371.94 1,350,000.00 162,000.00 1,628,895.06 195,467.41 293,805.00 35,256.60 64,225.00 7,707.00 3,590,024.53 430,802.94 4,750.00