Marasigan Medical Services

Income Statement
December 31,2018

Income
Medical Revenues 434,000.00
Research Revenues 30,000.00
464,000.00
Less: Expenses
Salaries Expense 124,000.00
Insurance Expense 1,667.00
Repair Expense 23,000.00
Supplies Expense 35,000.00
Association Dues Expense 15,000.00
Telephone Expense 3,000.00
Depreciation Expense- Bldg. 5,000.00
Depreciation Expense- Equipment 9,000.00
Interest Expense 28,000.00 243,667.00
Net Income to Marasigan Capital 220,333.00
 Marasigan Medical Services
Statement of Changes in Equity
December 31, 2018

Marasigan Capital 1/1/2018 250,000.00

Add: Net Income 220,333.00

Net Capital 470,333.00

Less: Marasigan Withdrawals 200,000.00

Marasigan Capital, 12/31/2018 270,333.00

 Marasigan Medical Services
Statement of Financial Position
December 31,2018
ASSETS
Current Assets
Cash 114,000.00
Accounts Receivable 204,000.00
Medical Supplies 21,000.00
Prepaid Insurance 18,333.00
Total Current
357,333.00
Assets
Non-Current Assets
Land 250,000.00
Medical Building 1,000,000.00
Accumulated Depreciation-Medical
5,000.00 995,000.00
Bldg.

Medical Equipt.
Accumulated Depreciation- Medical
465,000.00
Equipt.
9,000.00 456,000.00

Total Non-Current
1,701,000.00
Assets
TOTAL ASSETS 2,058,333.00

LIABILITIES
Current
 Accounts Payable 49,000.00
Salaries Payable 51,000.00
Interest Payable 28,000.00
Unearned Research
60,000.00
Revenue
Total Current Liabilities 188,000.00

Non-Current Assets
Notes Payable 20% 400,000.00
Notes Payable 24% 1,200,000.00
1,600,000.00
Total Non-Current
1,788,000.00
Liabilities

Capital
Marasigan Capital 270,333.00
Total Liabilities &
2,058,333.00
Equity