Schedule 4

Cost of Raw Materials

Items 2017
9.5mm Marine Plywood 483,000.00
Mahogany Wood (2X2X12) 44,640.00
Mahogany Wood (1X2X12) 9,072.00
Hinges 192,441.60
Caster Wheels with brake 132,480.00
Caster Wheels 221,760.00
Desk Cable Tidy 35,640.00
Cup holder 63,604.80
Cost of Raw Materials 1,182,638.40

Schedule 5
Direct Labor
2017
Labor rate per year 144,000.00
No. of workers 3
Total Direct Labor 432,000.00

Schedule 7
Depreciation Expense - Office Furniture and Fixtu
Items Unit Price Useful life 2017
Office Table 1,599.00 7 228.43
Office Chair 600.00 7 85.71
Monobloc Chairs 795.00 5 159.00
Sofa 4,000.00 7 571.43
Wall Fan 900.00 5 180.00
Total 7,894.00 1,224.57
Schedule 8
Depreciation Expense - Office Equipment
Items Unit Price Useful life 2017

Computer 20,000.00 5 4,000.00

Telephone 1,500.00 5 300.00
Water Dispenser 600.00 5 120.00
Total 22,100.00 4,420.00

Schedule 9
Depreciation Expense - Production Equipment
Items Unit Price Useful life 2017
Telephone 1,500.00 5 300.00
Water Dispenser 600.00 5 120.00
Total 2,100.00 420.00
 Schedule 10
Depreciation Expense - Production Furniture and Fi
Items Unit Price Useful Life 2017
Table 1,200.00 7 171.43
Monobloc Chairs 795.00 5 159.00
Wall Fan 900.00 5 180.00
Water Dispenser 600.00 5 120.00
Leasehold Improvement 7,000.00 5 1,400.00
Total 3,495.00 2,030.43
Schedule #
Indirect Materials
Paint 108,000.00
Rugby 8,400.00
Corrugated Box 30,240.00
Styrofoam 71,280.00
Packaging Tape 3,600.00
Total 229,198.56

Utilities Expense
2017 2018
M.O Admin M.O
Electricity 12,000.00 12,000.00 12,120.00
Water 1,800.00 1,800.00 1,818.00
Mineral Water 1,200.00 1,200.00 1,212.00
Telecommunication 20,388.00
Total 15,000.00 35,388.00 15,150.00
50,388.00 50,891.88

Rent Expense
2017 2018
M.O Admin M.O
Display Area 90,000.00 90,000.00 90,000.00
Warehouse 120,000.00 120,000.00 120,000.00
Total 210,000.00 210,000.00 210,000.00
 Repairs
2017 2018
Repair and maintenance 500.00 525.00
Total 500.00 525.00

13th M
2017 2018
Workers (3) 36,000.00 36,360.00
Salesperson 8,568.00 8,653.68
Security Guard 8,568.00 8,653.68
Driver/ Utility Man 8,568.00 8,653.68
Delivery Man/ Utility Man 8,568.00 8,653.68
Total 70,272.00 70,974.72
34,272.00 34,614.72

Employee Monthly Contribution

Monthly ER EE
Salary
2017
Worker (1) 12,000.00 884.00 436.00
Worker (2) 12,000.00 884.00 436.00
Worker (3) 12,000.00 884.00 436.00
Salesperson 8,568.00 626.20 308.80
Security Guard 8,568.00 626.20 308.80
Delivery man/ Utility man 8,568.00 626.20 308.80
Driver/ Utility man 8,568.00 626.20 308.80

2018
Worker (1) 12,120.00 884.00 436.00
Worker (2) 12,120.00 884.00 436.00
Worker (3) 12,120.00 884.00 436.00
Salesperson 8,653.68 626.20 308.80
Security Guard 8,653.68 626.20 308.80
Delivery man/ Utility man 8,653.68 626.20 308.80
Driver/ Utility man 8,653.68 626.20 308.80
2019
Worker (1) 12,241.20 884.00 436.00
Worker (2) 12,241.20 884.00 436.00
Worker (3) 12,241.20 884.00 436.00
Salesperson 8,740.22 626.20 308.80
Security Guard 8,740.22 626.20 308.80
Delivery man/ Utility man 8,740.22 626.20 308.80
Driver/ Utility man 8,740.22 626.20 308.80

2020
Worker (1) 12,363.61 920.80 454.20
Worker (2) 12,363.61 920.80 454.20
Worker (3) 12,363.61 920.80 454.20
Salesperson 8,827.62 663.00 327.00
Security Guard 8,827.62 663.00 327.00
Delivery man/ Utility man 8,827.62 663.00 327.00
Driver/ Utility man 8,827.62 663.00 327.00

2021
Worker (1) 12,487.25 920.80 454.20
Worker (2) 12,487.25 920.80 454.20
Worker (3) 12,487.25 920.80 454.20
Salesperson 8,915.90 663.00 327.00
Security Guard 8,915.90 663.00 327.00
Delivery man/ Utility man 8,915.90 663.00 327.00
Driver/ Utility man 8,915.90 663.00 327.00

Employee Monthly Contribution

Monthly ER EE
Salary
2017
Worker (1) 12,000.00 240.00 240.00
Worker (2) 12,000.00 240.00 240.00
Worker (3) 12,000.00 240.00 240.00
Salesperson 8,568.00 171.36 171.36
Security Guard 8,568.00 171.36 171.36
Delivery man/ Utility man 8,568.00 171.36 171.36
Driver/ Utility man 8,568.00 171.36 171.36
2018
Worker (1) 12,120.00 242.40 242.40
Worker (2) 12,120.00 242.40 242.40
Worker (3) 12,120.00 242.40 242.40
Salesperson 8,653.68 173.07 173.07
Security Guard 8,653.68 173.07 173.07
Delivery man/ Utility man 8,653.68 173.07 173.07
Driver/ Utility man 8,653.68 173.07 173.07

2019
Worker (1) 12,241.20 244.82 244.82
Worker (2) 12,241.20 244.82 244.82
Worker (3) 12,241.20 244.82 244.82
Salesperson 8,740.22 174.80 174.80
Security Guard 8,740.22 174.80 174.80
Delivery man/ Utility man 8,740.22 174.80 174.80
Driver/ Utility man 8,740.22 174.80 174.80

2020
Worker (1) 12,363.61 247.27 247.27
Worker (2) 12,363.61 247.27 247.27
Worker (3) 12,363.61 247.27 247.27
Salesperson 8,827.62 176.55 176.55
Security Guard 8,827.62 176.55 176.55
Delivery man/ Utility man 8,827.62 176.55 176.55
Driver/ Utility man 8,827.62 176.55 176.55

2021
Worker (1) 12,487.25 249.74 249.74
Worker (2) 12,487.25 249.74 249.74
Worker (3) 12,487.25 249.74 249.74
Salesperson 8,915.90 178.32 178.32
Security Guard 8,915.90 178.32 178.32
Delivery man/ Utility man 8,915.90 178.32 178.32
Driver/ Utility man 8,915.90 178.32 178.32

P
Employee Monthly Contribution
 Monthly ER EE
Salary

2017
Worker (1) 12,000.00 150 150
Worker (2) 12,000.00 150 150
Worker (3) 12,000.00 150 150
Salesperson 8,568.00 100 100
Security Guard 8,568.00 100 100
Delivery man/ Utility man 8,568.00 100 100
Driver/ Utility man 8,568.00 100 100

2018
Worker (1) 12,120.00 150 150
Worker (2) 12,120.00 150 150
Worker (3) 12,120.00 150 150
Salesperson 8,653.68 100 100
Security Guard 8,653.68 100 100
Delivery man/ Utility man 8,653.68 100 100
Driver/ Utility man 8,653.68 100 100

2019
Worker (1) 12,241.20 150 150
Worker (2) 12,241.20 150 150
Worker (3) 12,241.20 150 150
Salesperson 8,740.22 100 100
Security Guard 8,740.22 100 100
Delivery man/ Utility man 8,740.22 100 100
Driver/ Utility man 8,740.22 100 100

2020
Worker (1) 12,363.61 150 150
Worker (2) 12,363.61 150 150
Worker (3) 12,363.61 150 150
Salesperson 8,827.62 100 100
Security Guard 8,827.62 100 100
Delivery man/ Utility man 8,827.62 100 100
Driver/ Utility man 8,827.62 100 100

2021
Worker (1) 12,487.25 150 150
Worker (2) 12,487.25 150 150
Worker (3) 12,487.25 150 150
Salesperson 8,915.90 100 100
Security Guard 8,915.90 100 100
Delivery man/ Utility man 8,915.90 100 100
Driver/ Utility man 8,915.90 100 100

Schedule #
Salaries and Wages
Sched No. 2017
Salesperson 8,568.00
x no. of months 12
Total 102,816.00

Security Guard 8,568.00

x no. of months 12
Total 102,816.00

Delivery Man/ Utility Man 8,568.00

x no. of months 12
Total 102,816.00

Driver/ Utility Man 8,568.00

x no. of months 12
Total 102,816.00
TOTAL 411,264.00

Schedule #
Retainer's Fee
Retainer's Fee 3,000.00

Schedule #
Permits and Licenses
Sched No. 2017
Barangay Clearance 250.00
Mayor's Permit 1,200.00
Sanitary Permit 400.00
Documentation Stamp 40.00
BIR Registration 2,000.00
DTI Registration 1,000.00
Fire Clearance 200.00
Documentation Stamp on Lease 421.00
LTO Registration 2,500.00
Business Permit 600.00
Total 8,611.00

2017
Cash Flow for Operating Activities
Net Income 481,393.20
Add: Depreciation 8,095.00
(Increase) Decrease
Finish Goods Inventory, end (61,688.22)
Prepaid Supplies (5,037.30)
Accrued Withholding Tax Payable 4,455.23
Accrued SSS Payable 7,700.00
Accrued PhilHealth Payable 1,700.00
Accrued Pag-Ibig Payable 2,810.88
Accrued Income Tax Payable (1,259.77)
Vat Payable 195,183.37
Accrued Utilities Payable 4,199.00
Net Cash Provided (used) by operating activity 637,551.40
Cash Flow from Investing Activities
Acquisition of Product Equipment (2,100.00)
Acquisition of Product Furniture and Fixture (3,495.00)
Acquisition of Office Equipment (22,100.00)
Acquisition of Office Furniture and Fixture (7,894.00)
Leasehold Improvement (7,000.00)
Net Cash Provided (used) by investing activity (42,589.00)
Cash flow from Financing Activity
Owner's Investment 449,989.58
Withdrawal (50,000.00)
Net Cash Provided (used) by financing activity 399,989.58
Net Increase (Decrease) in Cash 994,951.98
Add: Cash Beginning Balance
Cash, Ending Balance 994,951.98

State
 2017
ASSETS
Current Assets
Cash 994,951.98
Inventory 61,688.22
Prepaid Supplies 5,037.30
Total Current Assets 1,061,677.49
Non-Current Assets
Production Equipment, net 1,680.00
Production Furniture and Fixture, net 2,864.57
Office Equipment, net 17,680.00
Office Furniture and Fixture, net 6,669.43
Leasehold Improvement, net 5,600.00
Total Non-Current Assets 34,494.00
Total Assets 1,096,171.49
LIABILITIES AND OWNER's EQUITY
Liabilities
Accrued Withholding Tax Payable 4,455.23
Accrued SSS Payable 7,700.00
Accrued PhilHealth Payable 1,700.00
Accrued Pag-Ibig Payable 2,810.88
Accrued Income Tax Payable (1,259.77)
Vat Payable 195,183.37
Accrued Utilities Payable 4,199.00
Total Liabilities 214,788.71
Owner's Equity
Owner's Equity, Beg. 449,989.58
Net Income 481,393.20
Withdrawals (50,000.00)
Total Owner's Equity 881,382.78
Total Liabilities and Owner's Equity 1,096,171.49

Pre-Operating Expenses
Property and Equipment
Working Capital
TOTAL
Current Asset 1,061,677.49 1,572,364.59
Divide Current Liabilities 214,788.71 249,894.70
Current Ratio 5 6

Equ
2017 2018
Total Equity 881,382.78 1,348,868.90
Divide Total Assets 1,096,171.49 1,598,763.59
Equity Ratio 80% 84%

Debt-E
2017 2018
Total Liabilities 214,788.71 249,894.70
Divide Total Equity 881,382.78 1,348,868.90
24% 19%

Fix
2017 2018
Direct Labor 432,000.00 436,320.00
Manufacturing Overhead
Deprecation Expense 2,450.43 2,450.43
Utilities Expense 15,000.00 15,150.00
Rent Expense 210,000.00 210,000.00
Withholding Tax Expense 33,952.68 34,799.40
Repair and Maintenance 500.00 525.00
Production Tools Expense 3,435.75
Total 265,338.86 262,924.83
Selling and Administrative Expenses
Deprecation Expense 5,644.57 5,644.57
Utilities Expense 35,388.00 35,741.88
Project Feasibility Cost 9,125.00
Repair and Maintenance 550.00 577.50
Rent Expense 210,000.00 210,000.00
Advertising Expense 400.00 100.00
Retainer's Fee 3,000.00 3,000.00
Withholding Tax Expense 19,510.08 20,107.20
Total 283,617.65 275,171.15
TOTAL FIXED COST 980,956.51 974,415.98
 Vari
2017 2018
Direct Materials 1,182,638.40 1,194,464.78
Production Overhead
SSS Contribution Expense 47,520.00 47,520.00
PhilHealth Contribution Expense 10,800.00 10,800.00
PAG-IBIG Contribution Expense 17,280.00 17,452.80
13th Month Pay 36,000.00 36,360.00
Indirect Materials 229,198.56 231,490.55
Total 340,798.56 343,623.35
Selling and Administrative Expense
Salaries Expense 411,264.00 415,376.64
13th Month Pay 34,272.00 34,614.72
SSS Contribution Expense 44,880.00 44,880.00
PhilHealth Contribution Expense 9,600.00 9,600.00
PAG-IBIG Contribution Expense 16,450.56 16,615.07
Permits and Licenses 7,710.00 7,710.00
Office Supplies 3,555.90 3,947.05
Cleaning Supplies 1,481.40 1,644.35
Total 529,213.86 534,387.83
Total Variable Cost 2,052,650.82 2,072,475.96

Contribution Margin Ratio

2017 2018
Sales 3,437,695.12 3,567,267.38
Less: Variable Cost 2,052,650.82 2,072,475.96
Contribution Margin 1,385,044.30 1,494,791.43
Divide by: Sales 3,437,695.12 3,567,267.38
Contribution Margin Ratio 40% 42%

Break even Point

2017 2018
Fixed Cost 980,956.51 974,415.98
Divided by: Contribution Margin 1,385,044.30 1,494,791.43
Break even Point 0.71 0.65

Fixed Cost 980,956.51 974,415.98

Divided by: Contribution Margin Ratio 40% 42%
Break even Point in Percentage 2,434,744.80 2,325,409.61

Fixed Cost 980,956.51 974,415.98

Divided by: Contribution Margin Per Unit 3,084.41 3,048.14
Break even Point in Units 318.04 319.68

Return on Investment
 2017 2018
Net Income 481,393.20 517,486.11
Average Owner's Equity
Owner's Equity, Beginning 449,989.58 881,382.78
Owner's Equity, Ending 881,382.78 1,348,868.90
Average Owner's Equity 665,686.18 1,115,125.84
Return on Investment 72% 46%

Payback Period
Years Net Cash Inflow

2017 1,192,706.22 1,192,706.22

2018 1,601,537.53 2,794,243.74
2019 1,996,389.69 4,790,633.43
2020 2,403,093.77 7,193,727.21
2021 2,739,040.02 9,932,767.23
 Schedule 4
st of Raw Materials
2018 2019 2020 2021
487,830.00 492,708.30 497,635.38 502,611.74
45,086.40 45,537.26 45,992.64 46,452.56
9,162.72 9,254.35 9,346.89 9,440.36
194,366.02 196,309.68 198,272.77 200,255.50
133,804.80 135,142.85 136,494.28 137,859.22
223,977.60 226,217.38 228,479.55 230,764.35
35,996.40 36,356.36 36,719.93 37,087.13
64,240.85 64,883.26 65,532.09 66,187.41
1,194,464.78 1,206,409.43 1,218,473.53 1,230,658.26

Schedule 5
Direct Labor
2018 2019 2020 2021
145,440.00 146,894.40 148,363.34 149,846.98
3 3 3 3
436,320.00 440,683.20 445,090.03 449,540.93

Schedule 7
ense - Office Furniture and Fixture
2018 2019 2020 2021
228.43 228.43 228.43 228.43
85.71 85.71 85.71 85.71
159.00 159.00 159.00 159.00
571.43 571.43 571.43 571.43
180.00 180.00 180.00 180.00
1,224.57 1,224.57 1,224.57 1,224.57
Schedule 8
Expense - Office Equipment
2018 2019 2020 2021

4,000.00 4,000.00 4,000.00 4,000.00

300.00 300.00 300.00 300.00
120.00 120.00 120.00 120.00
4,420.00 4,420.00 4,420.00 4,420.00

Schedule 9
xpense - Production Equipment
2018 2019 2020 2021
300.00 300.00 300.00 300.00
120.00 120.00 120.00 120.00
420.00 420.00 420.00 420.00
 Schedule 10
e - Production Furniture and Fixture
2018 2019 2020 2021
171.43 171.43 171.43 171.43
159.00 159.00 159.00 159.00
180.00 180.00 180.00 180.00
120.00 120.00 120.00 120.00
1,400.00 1,400.00 1,400.00 1,400.00
2,030.43 2,030.43 2,030.43 2,030.43
Schedule #
ndirect Materials
109,080.00 110,170.80 111,272.51 112,385.23
8,484.00 8,568.84 8,654.53 8,741.07
30,542.40 30,847.82 31,156.30 31,467.87
71,992.80 72,712.73 73,439.86 74,174.25
3,636.00 3,672.36 3,709.08 3,746.17
231,490.55 233,805.45 236,143.51 238,504.94

Utilities Expense
2018 2019 2020
Admin M.O Admin M.O
12,120.00 12,241.20 12,241.20 12,363.61
1,818.00 1,836.18 1,836.18 1,854.54
1,212.00 1,224.12 1,224.12 1,236.36
20,591.88 20,797.80
35,741.88 15,301.50 36,099.30 15,454.52
51,400.80 51,914.81

Rent Expense
2018 2019 2020
Admin M.O Admin M.O
90,000.00 90,000.00 90,000.00 90,000.00
120,000.00 120,000.00 120,000.00 120,000.00
210,000.00 210,000.00 210,000.00 210,000.00
 Repairs and Maintenance (Production)
2019 2020 2021
551.25 578.81 607.75
551.25 578.81 607.75

13th Month Pay

2019 2020 2021
36,723.60 37,090.84 37,461.74
8,740.22 8,827.62 8,915.90
8,740.22 8,827.62 8,915.90
8,740.22 8,827.62 8,915.90
8,740.22 8,827.62 8,915.90
71,684.47 72,401.31 73,125.32
34,960.87 35,310.48 35,663.58

SSS Contribution
Total Monthly Contribution Total Annual Contribution Charge to MOH
Multiplied by 12 Months

1,320.00 12 15,840.00 15,840.00

1,320.00 12 15,840.00 15,840.00
1,320.00 12 15,840.00 15,840.00
935.00 12 11,220.00
935.00 12 11,220.00
935.00 12 11,220.00
935.00 12 11,220.00
92,400.00 47,520.00

44,880.00 44,880.00 44,880.00 47,520.00

1,320.00 12 15,840.00 15,840.00
1,320.00 12 15,840.00 15,840.00
1,320.00 12 15,840.00 15,840.00
935.00 12 11,220.00
935.00 12 11,220.00
935.00 12 11,220.00
935.00 12 11,220.00
92,400.00 47,520.00
 1,320.00 12 15,840.00 15,840.00
1,320.00 12 15,840.00 15,840.00
1,320.00 12 15,840.00 15,840.00
935.00 12 11,220.00
935.00 12 11,220.00
935.00 12 11,220.00
935.00 12 11,220.00
92,400.00 47,520.00

1,375.00 12 16,500.00 16,500.00

1,375.00 12 16,500.00 16,500.00
1,375.00 12 16,500.00 16,500.00
990.00 12 11,880.00
990.00 12 11,880.00
990.00 12 11,880.00
990.00 12 11,880.00
97,020.00 49,500.00

1,375.00 12 16,500.00 16,500.00

1,375.00 12 16,500.00 16,500.00
1,375.00 12 16,500.00 16,500.00
990.00 12 11,880.00
990.00 12 11,880.00
990.00 12 11,880.00
990.00 12 11,880.00
97,020.00 49,500.00

Pag-Ibig Contribution
Total Monthly Contribution Multiplied by 12 months Total Annual Contribution Charge to MOH

480.00 12 5,760.00 5,760.00

480.00 12 5,760.00 5,760.00
480.00 12 5,760.00 5,760.00
342.72 12 4,112.64
342.72 12 4,112.64
342.72 12 4,112.64
342.72 12 4,112.64
33,730.56 17,280.00
 16,450.56 16,615.07 16,781.22 16,949.03
484.80 12 5,817.60 5,817.60
484.80 12 5,817.60 5,817.60
484.80 12 5,817.60 5,817.60
346.15 12 4,153.77
346.15 12 4,153.77
346.15 12 4,153.77
346.15 12 4,153.77
34,067.87 17,452.80

489.65 12 5,875.78 5,875.78

489.65 12 5,875.78 5,875.78
489.65 12 5,875.78 5,875.78
349.61 12 4,195.30
349.61 12 4,195.30
349.61 12 4,195.30
349.61 12 4,195.30
34,408.54 17,627.33

494.54 12 5,934.53 5,934.53

494.54 12 5,934.53 5,934.53
494.54 12 5,934.53 5,934.53
353.10 12 4,237.26
353.10 12 4,237.26
353.10 12 4,237.26
353.10 12 4,237.26
34,752.63 17,803.60

499.49 12 5,993.88 5,993.88

499.49 12 5,993.88 5,993.88
499.49 12 5,993.88 5,993.88
356.64 12 4,279.63
356.64 12 4,279.63
356.64 12 4,279.63
356.64 12 4,279.63
35,100.16 17,981.64

PhilHealth Contribution
Total Monthly Contribution Total Annual Contribution Charge to MOH
Multiplied by 12 Months
Total Monthly Contribution Total Annual Contribution Charge to MOH
Multiplied by 12 Months

300 12 3,600.00 3,600.00

300 12 3,600.00 3,600.00
300 12 3,600.00 3,600.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
20,400.00 10,800.00

300 12 3,600.00 3,600.00

300 12 3,600.00 3,600.00
300 12 3,600.00 3,600.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
20,400.00 10,800.00

300 12 3,600.00 3,600.00

300 12 3,600.00 3,600.00
300 12 3,600.00 3,600.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
20,400.00

300 12 3,600.00 3,600.00

300 12 3,600.00 3,600.00
300 12 3,600.00 3,600.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
20,400.00
 300 12 3,600.00 3,600.00
300 12 3,600.00 3,600.00
300 12 3,600.00 3,600.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
200 12 2,400.00
20,400.00

Schedule #
Salaries and Wages
2018 2019 2020 2021
8,653.68 8,740.22 8,827.62 8,915.90
12 12 12 12
103,844.16 104,882.60 105,931.43 106,990.74

8,653.68 8,740.22 8,827.62 8,915.90

12 12 12 12
103,844.16 104,882.60 105,931.43 106,990.74

8,653.68 8,740.22 8,827.62 8,915.90

12 12 12 12
103,844.16 104,882.60 105,931.43 106,990.74

8,653.68 8,740.22 8,827.62 8,915.90

12 12 12 12
103,844.16 104,882.60 105,931.43 106,990.74
415,376.64 419,530.41 423,725.71 427,962.97

Schedule #
Retainer's Fee
3,000.00 3,000.00 3,000.00 3,000.00

Schedule #
Permits and Licenses
2018 2019 2020 2011
250.00 250.00 250.00 250.00
1,200.00 1,200.00 1,200.00 1,200.00
400.00 400.00 400.00 400.00
40.00 40.00 40.00 40.00
2,000.00 2,000.00 2,000.00 2,000.00
1,000.00 1,000.00 1,000.00 1,000.00
200.00 200.00 200.00 200.00
421.00 421.00 421.00 421.00
2,500.00 2,500.00 2,500.00 2,500.00
 600.00 600.00 600.00 600.00
8,611.00 8,611.00 8,611.00 8,611.00

Statementof Cash Flows

2018 2019 2020 2021

517,486.11 525,695.76 531,753.14 517,066.26

8,095.00 8,095.00 8,095.00 8,095.00

3,048.14 12,302.60 18,635.74 (27,641.35)

(554.10) (106.29) (62.01) (58.10)
120.32 122.76 101.53 124.61
- - 385.00 -
- - - -
28.11 28.39 28.67 28.96
1,289.03 293.20 216.34 (524.53)
33,626.54 3,495.71 3,327.25 (5,939.31)
41.99 42.41 42.83 43.26
563,181.14 549,969.55 562,523.50 491,194.80

(50,000.00) (50,000.00) (50,000.00) (50,000.00)

(50,000.00) (50,000.00) (50,000.00) (50,000.00)
513,181.14 499,969.55 512,523.50 441,194.80
994,951.98 1,508,133.11 2,008,102.66 2,520,626.16
1,508,133.11 2,008,102.66 2,520,626.16 2,961,820.96

Statement of Financial Position

 2018 2019 2020 2021

1,508,133.11 2,008,102.66 2,520,626.16 2,961,820.96

58,640.08 46,337.48 27,701.74 55,343.08
5,591.40 5,697.69 5,759.70 5,817.81
1,572,364.59 2,060,137.83 2,554,087.60 3,022,981.85

1,260.00 840.00 420.00 -

2,234.14 1,603.71 973.29 342.86
13,260.00 8,840.00 4,420.00 -
5,444.86 4,220.29 2,995.71 1,771.14
4,200.00 2,800.00 1,400.00 -
26,399.00 18,304.00 10,209.00 2,114.00
1,598,763.59 2,078,441.83 2,564,296.60 3,025,095.85

4,575.55 4,698.31 4,799.84 4,924.45

7,700.00 7,700.00 8,085.00 8,085.00
1,700.00 1,700.00 1,700.00 1,700.00
2,838.99 2,867.38 2,896.05 2,925.01
29.27 322.47 538.80 14.27
228,809.90 232,305.61 235,632.87 229,693.55
4,240.99 4,283.40 4,326.23 4,369.50
249,894.70 253,877.17 257,978.80 251,711.79

881,382.78 1,348,868.90 1,824,564.66 2,306,317.80

517,486.11 525,695.76 531,753.14 517,066.26
(50,000.00) (50,000.00) (50,000.00) (50,000.00)
1,348,868.90 1,824,564.66 2,306,317.80 2,773,384.06
1,598,763.59 2,078,441.83 2,564,296.60 3,025,095.85

- - - -

Schedule #
Owner's Equity

16,715.00
196,024.75
237,249.83
449,989.58
 Current Ratio
2,060,137.83 2,554,087.60 3,022,981.85
253,877.17 257,978.80 251,711.79
8 10 12

Equity Ratio
2019 2020 2021
1,824,564.66 2,306,317.80 2,773,384.06
2,078,441.83 2,564,296.60 3,025,095.85
88% 90% 92%

Debt-Equity Ratio
2019 2020 2021
253,877.17 257,978.80 251,711.79
1,824,564.66 2,306,317.80 2,773,384.06
14% 11% 9%

Fixed Cost
2019 2020 2021
440,683.20 445,090.03 449,540.93

2,450.43 2,450.43 2,450.43

15,301.50 15,454.52 15,609.06
210,000.00 210,000.00 210,000.00
35,654.76 36,387.36 37,259.64
551.25 578.81 607.75

263,957.94 264,871.12 265,926.88

5,644.57 5,644.57 5,644.57

36,099.30 36,460.29 36,824.89

606.38 636.69 668.53

210,000.00 210,000.00 210,000.00
100.00 100.00 100.00
3,000.00 3,000.00 3,000.00
20,724.96 21,210.72 21,833.76
276,175.21 277,052.28 278,071.75
980,816.34 987,013.43 993,539.57
 Variable Cost
2019 2020 2021
1,206,409.43 1,218,473.53 1,230,658.26

47,520.00 49,500.00 49,500.00

10,800.00 10,800.00 10,800.00
17,627.33 17,803.60 17,981.64
36,723.60 37,090.84 37,461.74
233,805.45 236,143.51 238,504.94
346,476.38 351,337.94 354,248.32

419,530.41 423,725.71 427,962.97

34,960.87 35,310.48 35,663.58
44,880.00 47,520.00 47,520.00
9,600.00 9,600.00 9,600.00
16,781.22 16,949.03 17,118.52
7,710.00 7,710.00 7,710.00
4,022.08 4,065.86 4,106.87
1,675.61 1,693.85 1,710.94
539,160.18 546,574.92 551,392.87
2,092,045.99 2,116,386.39 2,136,299.46

Contribution Margin Ratio

2019 2020 2021
3,614,210.11 3,659,723.73 3,618,893.97
2,092,045.99 2,116,386.39 2,136,299.46
1,522,164.12 1,543,337.34 1,482,594.52
3,614,210.11 3,659,723.73 3,618,893.97
42% 42% 41%

Break even Point

2019 2020 2021
980,816.34 987,013.43 993,539.57
1,522,164.12 1,543,337.34 1,482,594.52
0.64 0.64 0.67

980,816.34 987,013.43 993,539.57

42% 42% 41%
2,328,839.77 2,340,509.99 2,425,150.18

980,816.34 987,013.43 993,539.57

3,075.65 3,105.96 3,071.26
318.90 317.78 323.50

Return on Investment
 2019 2020 2021
525,695.76 531,753.14 517,066.26

1,348,868.90 1,824,564.66 2,306,317.80

1824564.6580472 2306317.79919547 2773384.06176792
1,586,716.78 2,065,441.23 2,539,850.93
33% 26% 20%

Payback Period
Investment Years to Recover
449,989.58
0.38
-
-
-
-
 Monthly Salary
2017
Worker (1) 12,000.00
Worker (2) 12,000.00
Worker (3) 12,000.00
Salesperson 8,568.00
Security Guard 8,568.00
Delivery man/ Utility man 8,568.00
Driver/ Utility man 8,568.00

2018
Worker (1) 12,120.00
Worker (2) 12,120.00
Worker (3) 12,120.00
Salesperson 8,653.68
Security Guard 8,653.68
Delivery man/ Utility man 8,653.68
Driver/ Utility man 8,653.68

2019
Worker (1) 12,241.20
Worker (2) 12,241.20
Worker (3) 12,241.20
Salesperson 8,740.22
Security Guard 8,740.22
Delivery man/ Utility man 8,740.22
Driver/ Utility man 8,740.22
5,644.57

2020
Worker (1) 12,363.61
Worker (2) 12,363.61
Worker (3) 12,363.61
Salesperson 8,827.62
Security Guard 8,827.62
Delivery man/ Utility man 8,827.62
Driver/ Utility man 8,827.62

2021
 Worker (1) 12,487.25
Worker (2) 12,487.25
Worker (3) 12,487.25
Salesperson 8,915.90
Security Guard 8,915.90
Delivery man/ Utility man 8,915.90
Driver/ Utility man 8,915.90

2,450.43 2,450.43 2,450.43 2,450.43

Sched
Manufacturin
Utilities Expense 15,000.00
Rent Expense 210,000.00
Withholding Tax Expense 33,952.68
Repairs and Maintenance 500.00
Production Tools Expense 3,435.75
Total Fixed Cost 265,338.86
Variable Cost
SSS Contribution Expense 47,520.00
PhilHealth Contribution Expense 10,800.00
PAG-IBIG Contribution 17,280.00
13th Month Pay 36,000.00
Indirect Materials 229,198.56
Total Variable Cost 340,798.56
Total 606,137.42

2020 2021
Admin M.O Admin
12,363.61 12,487.25 12,487.25
1,854.54 1,873.09 1,873.09
1,236.36 1,248.72 1,248.72
21,005.78 21,215.83
36,460.29 15,609.06 36,824.89
52,433.95

2020 2021
Admin M.O Admin
90,000.00 90,000.00 90,000.00
120,000.00 120,000.00 120,000.00
210,000.00 210,000.00 210,000.00
S and A

47,520.00
47,520.00
47,520.00
11,220.00 49,500.00
11,220.00 49,500.00
11,220.00
11,220.00
44,880.00 92,400.00

47,520.00

11,220.00
11,220.00
11,220.00
11,220.00
44,880.00
11,220.00
11,220.00
11,220.00
11,220.00
44,880.00

11,880.00
11,880.00
11,880.00
11,880.00
47,520.00

11,880.00
11,880.00
11,880.00
11,880.00
47,520.00

S and A

4,112.64
4,112.64
4,112.64
4,112.64
16,450.56
17,118.52

4,153.77
4,153.77
4,153.77
4,153.77
16,615.07

16,450.56
16,615.07
16,781.22
16,949.03
4,195.30 17,118.52
4,195.30
4,195.30
4,195.30
16,781.22

4,237.26
4,237.26
4,237.26
4,237.26
16,949.03

4,279.63
4,279.63
4,279.63
4,279.63
17,118.52

S and A
S and A

2,400.00
2,400.00
2,400.00
2,400.00
9,600.00

2,400.00
2,400.00
2,400.00
2,400.00
9,600.00

2,400.00
2,400.00
2,400.00
2,400.00
9,600.00

2,400.00
2,400.00
2,400.00
2,400.00
9,600.00
2,400.00
2,400.00
2,400.00
2,400.00
9,600.00
201,528.00 36,092.91
18330 27,997.91

-20532
(8,456.00)
1,252.00
5,408.00
1,400.00
1,229.00
2,126.00
189,657.00
3,500.00
395,442.00
 (3,048.14) 517486.1129683
554.10

(420.00)
(630.43)
(4,420.00)
(1,224.57)
(1,400.00)
(10,589.03) -3616.96545481

120.32
-
-
28.11
1,289.03
33,626.54
41.99
35,105.99 35105.98831236

431,393.20 475,695.76
517,486.11
(50,000.00)

974,670.90
 Schedule #
Withholding Tax
Salary Deduction Taxable Income

826.00 11,174.00 943.13

826.00 11,174.00 943.13
826.00 11,174.00 943.13
580.16 7,987.84 406.46
580.16 7,987.84 406.46
580.16 7,987.84 406.46
580.16 7,987.84 406.46

828.40 11,291.60 966.65

828.40 11,291.60 966.65
828.40 11,291.60 966.65
581.87 8,071.81 418.90
581.87 8,071.81 418.90
581.87 8,071.81 418.90
581.87 8,071.81 418.90

830.82 11,410.38 990.41

830.82 11,410.38 990.41
830.82 11,410.38 990.41
583.60 8,156.61 431.77
583.60 8,156.61 431.77
583.60 8,156.61 431.77
583.60 8,156.61 431.77

851.47 11,512.14 1,010.76

851.47 11,512.14 1,010.76
851.47 11,512.14 1,010.76
603.55 8,224.07 441.89
603.55 8,224.07 441.89
603.55 8,224.07 441.89
603.55 8,224.07 441.89
 853.94 11,633.31 1,034.99
853.94 11,633.31 1,034.99
853.94 11,633.31 1,034.99
605.32 8,310.58 454.87
605.32 8,310.58 454.87
605.32 8,310.58 454.87
605.32 8,310.58 454.87

2,450.43

Schedule 6
Manufacturing Overhead
15,150.00 15,301.50 15,454.52
210,000.00 210,000.00 210,000.00
34,799.40 35,654.76 36,387.36
525.00 551.25 578.81

262,924.83 263,957.94 264,871.12

47,520.00 47,520.00 49,500.00

10,800.00 10,800.00 10,800.00
17,452.80 17,627.33 17,803.60
36,360.00 36,723.60 37,090.84
231,490.55 233,805.45 236,143.51
343,623.35 346,476.38 351,337.94
606,548.17 610,434.32 616,209.06

Schedule 2
Projected Selling Price
Cost of Raw Materials 1,182,638.40
Direct Labor 432,000.00
Manufacturing Overhead 606,137.42
Total 2,220,775.82
Units Produced 720
Cost per Unit 3,084.41
Mark up (40%) 4,318.18
Selling Price (Inclusive of VAT) 4,836.36

Schedule 2
Advertising Exp

Advertising Expense
 Schedule 1
Finished Goods Inventor
2017
Units Produced 720
Inventory, beginning
Cost of Goods Available for Sale 720
Cost of Goods Sold 700
Finished Goods Inventory, end 20

Schedule 12
Finished Goods Invetory
2017
Units Produced in Peso 2,220,775.82
Inventory, beginning
Cost of Goods Available for Sale 2,220,775.82
Cost of Goods Sold 2,159,087.60
Finished Goods Inventory, end 61,688.22

Schedule
Office Supplies E
2017
Office Supplies 3,951.00
Supplies, Beginning

Total Supplies Available 3,951.00

Supplies, Ending 395.10
Supplies Expense 3,555.90
5,037.30

Cleaning Supplies
2017
Cleaning Supplies 1,646.00
Supplies, Beginning
Total Supplies Available 1,646.00
Supplies, Ending 164.60
Supplies Expense 1,481.40
5,037.30
Schedule
Production Equipment, n
2017
Original Cost 2,100.00
Accumulated Depreciation, Beginning
Depreciation Expense 420.00
Accumulated Depreciation, Ending 420.00
Book Value 1,680.00
 Schedule
Production Furniture
2017
Original Cost 3,495.00
Accumulated Depreciation, Beginning
Depreciation Expense 630.43
Accumulated Depreciation, Ending 630.43
Book Value 2,864.57

Schedule
Office Equipm
2017
Original Cost 22,100.00
Accumulated Depreciation, Beginning
Depreciation Expense 4,420.00
Accumulated Depreciation, Ending 4,420.00
Book Value 17,680.00

Schedule
Office Furniture an
2017
Original Cost 7,894.00
Accumulated Depreciation, Beginning
Depreciation Expense 1,224.57
Accumulated Depreciation, Ending 1,224.57
Book Value 6,669.43

Schedule
Leasehold Impro
2017
Original Cost 7,000.00
Accumulated Depreciation, Beginning
Depreciation Expense 1,400.00

Accumulated Depreciation, Ending 1,400.00

Book Value 5,600.00

Schedule
Accrued PhilHealth Contr
2017
PhilHealth Contribution, Beginning
PhilHealth Contribution Expense 20,400.00
PhilHealth Contribution Payable 20,400.00
Prior
Current 18,700.00
Accrued PhilHealth Contribution Payable 1,700.00

Schedule
Accrued SSS Contribu
2017
SSS Contribution, Beginning
SSS Contribution Expense 92,400.00
SSS Contribution Payable 92,400.00
Prior
Current 84,700.00
Accrued SSS Contribution Payable 7,700.00

Schedule
Accrued Pag-ibig Contri
2017
Pag-ibig Contribution, Beginning
Pag-ibig Contribution Expense 33,730.56
Pag-ibig Contribution Payable 33,730.56
Prior
Current 30,919.68
Accrued Pag-ibig Contribution Payable 2,810.88

Schedule
Accrued Utilities
2017
Utilities, Beginning
Utilities Expense 50,388.00
Utilities Payable 50,388.00
Prior
Current 46,189.00
Accrued Utilities Expense 4,199.00

Schedule
Accrued Withholding
2017
Withholding Tax, Beginning
Withholdiing Tax Expense 53,462.76
Withholding Tax Payable 53,462.76
Prior
Current 49,007.53
Accrued Withholding Tax Payable 4,455.23

Schedule
Selling and Administra
 2017

Fixed Cost
Depreciation Expense - Office Furniture and Fixtures 1,224.57
Depreciation Expense - Office Equipment 4,420.00
Utilities Expense 35,388.00
Research and Study Cost 9,125.00
Repair and Maintenance 550.00
Rent Expense 210,000.00
Advertising Expense 400.00
Permits and Licenses 7,710.00
Withholding Tax Expense 19,510.08
Total Fixed Cost 288,327.65

Variable Cost
Salaries 411,264.00
Retainer's Fees 3,000.00
13th Month Pay 34,272.00
SSS Contribution Expense 44,880.00
PhilHealth Contribution Expense 9,600.00
Pag-ibig Contribution Expense 16,450.56
Cleaning Supplies Expense 1,481.40
Office Supplies Expense 3,555.90
Total Variable Cost 524,503.86
Total Selling and Administrative Expense 812,831.51

INCOME TAX EX
2017
Income before tax 466,276.01
Less: Basic Personal Exemption 50,000.00
Additional Personal Exemption 50,000.00
Taxable Income 366,276.01
Less: Income Bracket 250,000.00
Excess of bracket 116,276.01
Mulitply by Percentage available 30%
Additional tax Due 34,882.80
Add: Basic Tax Due 50,000.00
Income Tax Due (15,117.20)

Schedule #
 Accrued Income Tax Pay
2017
Income Tax, Beginning
Income Tax Expense (15,117.20)
Income Tax Payable (15,117.20)
Prior
Current (13,857.43)
Accrued Income Tax Payable (1,259.77)

(1,259.77)

VAT PAYABLE

2017
OUTPUT VAT
Sales 3,437,695.12
Vat Percentage 112%
12%
Output Vat 368,324.48
Less: Input Vat
Purchases 1,615,983.71
112%
12%
Input Vat 173,141.11

VAT PAYABLE 195,183.37

195,183.37
Withholding Expense Total

11,317.56
11,317.56
11,317.56 33,952.68
4,877.52
4,877.52
4,877.52
4,877.52 19,510.08
53,462.76

11,599.80
11,599.80
11,599.80 34,799.40
5,026.80
5,026.80
5,026.80
5,026.80 20,107.20
54,906.60

11,884.92
11,884.92
11,884.92 35,654.76
5,181.24
5,181.24
5,181.24
5,181.24 20,724.96
56,379.72

12,129.12
12,129.12
12,129.12 36,387.36
5,302.68
5,302.68
5,302.68
5,302.68 21,210.72
57,598.08
 12,419.88
12,419.88
12,419.88 37,259.64
5,458.44
5,458.44
5,458.44
5,458.44 21,833.76
59,093.40

15,609.06
210,000.00
37,259.64
607.75

265,926.88

49,500.00
10,800.00
17,981.64
37,461.74
238,504.94
354,248.32
620,175.20

ule 2
lling Price
1,194,464.78 1,206,409.43 1,218,473.53 1,230,658.26
436,320.00 440,683.20 445,090.03 449,540.93
606,548.17 610,434.32 616,209.06 620,175.20
2,237,332.96 2,257,526.95 2,279,772.62 2,300,374.40
734 734 734 749
3,048.14 3,075.65 3,105.96 3,071.26
4,267.39 4,305.91 4,348.34 4,299.77 4,410.71
4,779.48 4,822.62 4,870.14 4,815.74 4,939.99
103.64
Schedule 27
Advertising Expense
2017 2018 2019 2020 2021
400.00 100.00 100.00 100.00 100.00
 Schedule 12
Finished Goods Inventory, end (in units)
2018 2019 2020 2021
734 734 734 749
20 19 15 9
754 753 749 758
735 738 740 740
19 15 9 18

Schedule 12.1
Finished Goods Invetory, end (in Peso)
2018 2019 2020 2021
2,237,332.96 2,257,526.95 2,279,772.62 2,300,374.40
61,688.22 58,640.08 46,337.48 27,701.74
2,299,021.18 2,316,167.03 2,326,110.10 2,328,076.13
2,240,381.10 2,269,829.55 2,298,408.36 2,272,733.05
58,640.08 46,337.48 27,701.74 55,343.08

Schedule #
Office Supplies Expense
2018 2019 2020 2021
3,990.51 4,030.42 4,070.72 4,111.43
395.10 438.56 446.90 451.76

4,385.61 4,468.98 4,517.62 4,563.19

438.56 446.90 451.76 456.32
3,947.05 4,022.08 4,065.86 4,106.87
554.10 106.29 62.01 58.10

Cleaning Supplies Expense

2018 2019 2020 2021
1,662.46 1,679.08 1,695.88 1,712.83
164.60 182.71 186.18 188.21
1,827.06 1,861.79 1,882.05 1,901.04
182.71 186.18 188.21 190.10
1,644.35 1,675.61 1,693.85 1,710.94
5,591.40 5,697.69 5,759.70 5,817.81
Schedule #
Production Equipment, net (Book Value)
2018 2019 2020 2021
2,100.00 2,100.00 2,100.00 2,100.00
420.00 840.00 1,260.00 1,680.00
420.00 420.00 420.00 420.00
840.00 1,260.00 1,680.00 2,100.00
1,260.00 840.00 420.00 -
 Schedule #
Production Furniture and Fixtures
2018 2019 2020 2021
3,495.00 3,495.00 3,495.00 3,495.00
630.43 1,260.86 1,891.29 2,521.71
630.43 630.43 630.43 630.43
1,260.86 1,891.29 2,521.71 3,152.14
2,234.14 1,603.71 973.29 342.86

Schedule #
Office Equipment
2018 2019 2020 2021
22,100.00 22,100.00 22,100.00 22,100.00
4,420.00 8,840.00 13,260.00 17,680.00
4,420.00 4,420.00 4,420.00 4,420.00
8,840.00 13,260.00 17,680.00 22,100.00
13,260.00 8,840.00 4,420.00 -

Schedule #
Office Furniture and Fixtures
2018 2019 2020 2021
7,894.00 7,894.00 7,894.00 7,894.00
1,224.57 2,449.14 3,673.71 4,898.29
1,224.57 1,224.57 1,224.57 1,224.57
2,449.14 3,673.71 4,898.29 6,122.86
5,444.86 4,220.29 2,995.71 1,771.14

Schedule #
Leasehold Improvement
2018 2019 2020 2021
7,000.00 7,000.00 7,000.00 7,000.00
1,400.00 2,800.00 4,200.00 5,600.00
1,400.00 1,400.00 1,400.00 1,400.00

2,800.00 4,200.00 5,600.00 7,000.00

4,200.00 2,800.00 1,400.00 -

Schedule #
Accrued PhilHealth Contribution Payable
2018 2019 2020 2021
1,700.00 1,700.00 1,700.00 1,700.00
20,400.00 20,400.00 20,400.00 20,400.00
22,100.00 22,100.00 22,100.00 22,100.00
1,700.00 1,700.00 1,700.00 1,700.00
 18,700.00 18,700.00 18,700.00 18,700.00
1,700.00 1,700.00 1,700.00 1,700.00 1,700.00

Schedule #
Accrued SSS Contribution Payable
2018 2019 2020 2021
7,700.00 7,700.00 7,700.00 8,085.00
92,400.00 92,400.00 97,020.00 97,020.00
100,100.00 100,100.00 104,720.00 105,105.00
7,700.00 7,700.00 7,700.00 8,085.00
84,700.00 84,700.00 88,935.00 88,935.00
7,700.00 7,700.00 8,085.00 8,085.00 7,700.00

Schedule #
Accrued Pag-ibig Contribution Payable
2018 2019 2020 2021
2,810.88 2,838.99 2,867.38 2,896.05
34,067.87 34,408.54 34,752.63 35,100.16
36,878.75 37,247.53 37,620.01 37,996.21
2,810.88 2,838.99 2,867.38 2,896.05
31,228.88 31,541.16 31,856.58 32,175.15
2,838.99 2,867.38 2,896.05 2,925.01 2,810.88

Schedule #
Accrued Utilities Expense
2018 2019 2020 2021
4,199.00 4,240.99 4,283.40 4,326.23
50,891.88 51,400.80 51,914.81 52,433.95
55,090.88 55,641.79 56,198.21 56,760.18
4,199.00 4,240.99 4,283.40 4,326.23
46,650.89 47,117.40 47,588.58 48,064.45
4,240.99 4,283.40 4,326.23 4,369.50 4,199.00

Schedule #
Accrued Withholding Tax Payable
2018 2019 2020 2021
4,455.23 4,575.55 4,698.31 4,799.84
54,906.60 56,379.72 57,598.08 59,093.40
59,361.83 60,955.27 62,296.39 63,893.24
4,455.23 4,575.55 4,698.31 4,799.84
50,331.05 51,681.41 52,798.24 54,168.95
4,575.55 4,698.31 4,799.84 4,924.45 4,455.23

Schedule #
Selling and Administrative Expense
 2018 2019 2020 2021

1,224.57 1,224.57 1,224.57 1,224.57

4,420.00 4,420.00 4,420.00 4,420.00 16,450.56
35,741.88 36,099.30 36,460.29 36,824.89 16,615.07
16,781.22
577.50 606.38 636.69 668.53 16,949.03
210,000.00 210,000.00 210,000.00 210,000.00 17,118.52
100.00 100.00 100.00 100.00
7,710.00 7,710.00 7,710.00 7,710.00
20,107.20 20,724.96 21,210.72 21,833.76
279,881.15 280,885.21 281,762.28 282,781.75

415,376.64 419,530.41 423,725.71 427,962.97

3,000.00 3,000.00 3,000.00 3,000.00
34,614.72 34,960.87 35,310.48 35,663.58
44,880.00 44,880.00 47,520.00 47,520.00
9,600.00 9,600.00 9,600.00 9,600.00
16,615.07 16,781.22 16,949.03 17,118.52
1,644.35 1,675.61 1,693.85 1,710.94
3,947.05 4,022.08 4,065.86 4,106.87
529,677.83 534,450.18 541,864.92 546,682.87
809,558.98 815,335.39 823,627.20 829,464.62

INCOME TAX EXPENSE

2018 2019 2020 2021
517,837.30 529,565.37 538,218.77 517,237.52
50,000.00 50,000.00 50,000.00 50,000.00
50,000.00 50,000.00 50,000.00 50,000.00
417,837.30 429,565.37 438,218.77 417,237.52
250,000.00 250,000.00 250,000.00 250,000.00
167,837.30 179,565.37 188,218.77 167,237.52
30% 30% 30% 30%
50,351.19 53,869.61 56,465.63 50,171.26
50,000.00 50,000.00 50,000.00 50,000.00
351.19 3,869.61 6,465.63 171.26

Schedule #
Accrued Income Tax Payable
2018 2019 2020 2021
(1,259.77) 29.27 322.47 538.80
351.19 3,869.61 6,465.63 171.26
(908.58) 3,898.88 6,788.10 710.06
(1,259.77) 29.27 322.47 538.80
321.93 3,547.14 5,926.83 156.98
29.27 322.47 538.80 14.27

1,289.03 293.20 216.34 (524.53)

VAT PAYABLE

2018 2019 2020 2021

3,567,267.38 3,614,210.11 3,659,723.73 3,618,893.97

112% 112% 112% 112% INPUT
12% 12% 12% 12% crm
382,207.22 387,236.80 392,113.26 387,738.64 indi
adver
1,431,708.30 1,446,024.38 1,460,483.63 1,475,087.46 office supl.
112% 112% 112% 112% cleaning
12% 12% 12% 12% est.
153,397.32 154,931.18 156,480.39 158,045.09 Of. F & F
Of. Equ
228,809.90 232,305.61 235,632.87 229,693.55 Production Equip.
Production F &F
33,626.54 3,495.71 3,327.25 (5,939.31) Production Tools
Truck
 Schedule 12
Projected Sales
2017 2018 2019
Market Share 700 735 738
Selling Price per Unit 4,836.36 4,779.48 4,822.62
Projected Sales 3,385,449.36 3,512,917.56 3,559,092.73

Cost of Goods Sold

2017 2018 2019
Cost of Raw Materials 1,182,638.40 1,194,464.78 1,206,409.43
Direct Labor 432,000.00 436,320.00 440,683.20
Manufacturing Overhead 606,137.42 606,548.17 610,434.32
Total 2,220,775.82 2,237,332.96 2,257,526.95
Inventory Beginning 61,688.22 58,640.08
Total Goods Available for Sale 2,220,775.82 2,299,021.18 2,316,167.03
Inventory End 61,688.22 58,640.08 46,337.48
Cost of Goods Sold 2,159,087.60 2,240,381.10 2,269,829.55

Space Furniture
Projected Statement of Comprehensive
For the Year Ended December 31

Projected Sales 3,385,449.36 3,512,917.56 3,559,092.73

Less: Cost of Goods Sold 2,159,087.60 2,240,381.10 2,269,829.55
Gross Profit 1,226,361.76 1,272,536.46 1,289,263.18
Less: Selling and Administrative Expense 812,831.51 809,558.98 815,335.39
Operating Income 413,530.25 462,977.48 473,927.79
Add: Other Income 500.00 510.00 520.20
Income before Tax 414,030.25 463,487.48 474,447.99
Less: Income Tax (15,117.20) 351.19 3,869.61
Net Income 429,147.44 463,136.29 470,578.38

2017 2018 2019 2020 2021

5,037.30 5,591.40 5,697.69 5,759.70 5,817.81

5,037.30 554.10 106.29 62.01 58.10

 - - - -

- - 385.00 -

28.11 28.39 28.67 28.96

Schedule #
Repair and Maintenance (Office)
2017 2018 2019
Repair and Maintenance 550.00 577.50 606.38

41.99 42.41 42.83 43.26

120.32 122.76 101.53 124.61

1,182,638.40 1,194,464.78 1,206,409.43 1,218,473.53 1,230,658.26
229,198.56 231,490.55 233,805.45 236,143.51 238,504.94
400.00 100.00 100.00 100.00 100.00
3,951.00 3,990.51 4,030.42 4,070.72 4,111.43
1,646.00 1,662.46 1,679.08 1,695.88 1,712.83
9,125.00
7,894.00
22,100.00
2,100.00
3,495.00
3,435.75
150,000.00
1,615,983.71 1,431,708.30 1,446,024.38 1,460,483.63 1,475,087.46

1,442,842.60
173,141.11

173,141.11 153,397.32 154,931.18 156,480.39 158,045.09

edule 12
cted Sales
2020 2021
740 740
4,870.14 4,815.74
3,603,904.31 3,563,645.42

Goods Sold
2020 2021
1,218,473.53 1,230,658.26
445,090.03 449,540.93
616,209.06 620,175.20
2,279,772.62 2,300,374.40
46,337.48 27,701.74
2,326,110.10 2,328,076.13
27,701.74 55,343.08
2,298,408.36 2,272,733.05

Space Furniture
tement of Comprehensive Income
Year Ended December 31 20A

3,603,904.31 3,563,645.42
2,298,408.36 2,272,733.05
1,305,495.95 1,290,912.37
823,627.20 829,464.62
481,868.75 461,447.75
530.60 541.22
482,399.36 461,988.97
6,465.63 171.26
475,933.73 461,817.71
hedule #
aintenance (Office)
2020 2021
636.69 668.53
 Schedule
Annual Demand
Selling Price per Unit 2
Projected Sales

Schedule
Cost of Raw Materials 4
Direct Labor 5
Manufacturing Overhead 6
Total
Units Produced
Cost per Unit
Mark up

Selling Price (Inclusive of VAT)

Schedule
Cost of Raw Materials 4
Direct Labor 5
Manufacturing Overhead 6
Total
Inventory Beginning
Total Goods Available for Sale
Inventory End 16.1
Cost of Goods Sold

Schedule
Items
9.5mm Marine Plywood
Mahogany Wood (2X2X12)
Mahogany Wood (1X2X12)
Hinges
Caster Wheels with brake
Caster Wheels
Desk Cable Tidy
Cup holder
Cost of Raw Materials
 Schedule
Labor rate per year
No. of workers
Total Direct Labor

Schedule
Fixed Cost
Depreciation Expense - Production Equiment 7
Depreciation Expense - Production Furniture and Fixtures 7
Utilities Expense 12
Salaries and wages expense 27,29, 31
Rent Expense 13
Employee Benefits 27,29,31
13th Month Pay 33
Withholding Tax Expense 38
Repairs and Maintenance 14
Production Tools Expense Note 9
Total Fixed Cost
Variable Cost
Indirect Materials 10
Total Variable Cost
Total Manufacturing Overhead

Items Unit Price Useful life

Telephone 1,500.00 5
Water Dispenser 600.00 5
Total Production Equipment
Table 1,200.00 7
Monobloc Chairs 795.00 5
Wall Fan 900.00 5
Water Dispenser 600.00 5
Total Production Furniture and Fixtures
Leasehold Improvement 7,000.00 5
Total Depreciation Expense

Sched
Original Cost Note 5
Accumulated Depreciation, Beginning
Depreciation Expense 7
Accumulated Depreciation, Ending
Book Value

Sched
Original Cost Note 6
Accumulated Depreciation, Beginning
Depreciation Expense 7
Accumulated Depreciation, Ending
Book Value

Items
Screw
Nails
Paint
Rugby
Corrugated Box
Styrofoam
Packaging Tape
Total

Advertising Expense

2017 2018
M.O Admin M.O
Electricity 6,000.00 6,000.00 6,060.00
Water 600.00 600.00 606.00
Mineral Water 1,200.00 1,200.00 1,212.00
Telecommunication 14,388.00
Total 7,800.00 22,188.00 7,878.00
29,988.00

2017 2018
 M.O Admin M.O
Display Area 90,000.00 90,000.00 90,000.00
Warehouse 120,000.00 120,000.00 120,000.00
Total 210,000.00 210,000.00 210,000.00

Repair and maintenance 1%

Total

Repair and maintenance 1%

Total

Units Produced
Inventory, beginning
Cost of Goods Available for Sale
Cost of Goods Sold (annual Demand)
Finished Goods Inventory, end

Units Produced in Peso

Inventory, beginning
Cost of Goods Available for Sale
Cost of Goods Sold (annual demand)
Finished Goods Inventory, end

Schedule
Fixed Cost
Depreciation Expense - Office Furniture and Fixtures 18
Depreciation Expense - Office Equipment 18
Utilities Expense 12
Research and Study Cost Note 1
Repair and Maintenance 15
Rent Expense 13
Advertising Expense 11
Salaries 22,28,30,32
Retainer's Fees 23
13th Month Pay 34
Employee Benefits 28,30,32
Depreciation Expense - Delivery Truck 18
Permits and Licenses 25
Withholding Tax Expense 39
Total Fixed Cost
Variable Cost
Gasoline Expense
Cleaning Supplies Expense 26
Office Supplies Expense 24
Total Variable Cost
Total Selling and Administrative Expense

Items Unit Price Useful life

Office Table 1,599.00 7
Office Chair 600.00 7
Monobloc Chairs 795.00 5
Sofa 4,000.00 7
Wall Fan 900.00 5
Total Furniture and Fixtures
Computer 20,000.00 5
Telephone 1,500.00 5
Water Dispenser 600.00 5
Total Equipment
Delivery Truck 150,000.00 5
Total Depreciation Expense

Original Cost
Accumulated Depreciation, Beginning
Depreciation Expense
Accumulated Depreciation, Ending
Book Value

Original Cost
Accumulated Depreciation, Beginning
Depreciation Expense
Accumulated Depreciation, Ending
Book Value

Original Cost
Accumulated Depreciation, Beginning
Depreciation Expense
Accumulated Depreciation, Ending
Book Value

Salesperson
x no. of months
Total

Security Guard
x no. of months
Total

Delivery Man/ Utility Man

x no. of months
Total

Driver/ Utility Man

x no. of months
Total
TOTAL

Retainer's Fee
Total

Office Supplies 1%
Supplies, Beginning
Total Supplies Available
Supplies, Ending 10%
Office Supplies Expense

Barangay Clearance
Mayor's Permit
Sanitary Permit
Documentation Stamp
BIR Registration
DTI Registration
Fire Clearance
Documentation Stamp on Lease
LTO Registration
Business Permit
Total

Sched
Cleaning Supplies Note 17
Supplies, Beginning
Total Supplies Available
Supplies, Ending
Cleaning Supplies Expense

Gasoline
Gasoline expense

Schedule 2
SSS Contribution

Monthly Contribution
Employee
Monthly ER
Salary
2017
Worker (1) 12,000.00 884.00
Worker (2) 12,000.00 884.00
Worker (3) 12,000.00 884.00
Salesperson 8,568.00 626.20
Security Guard 8,568.00 626.20
Delivery man/ Utility man 8,568.00 626.20
Driver/ Utility man 8,568.00 626.20

2018
Worker (1) 12,120.00 884.00
Worker (2) 12,120.00 884.00
Worker (3) 12,120.00 884.00
Salesperson 8,653.68 626.20
Security Guard 8,653.68 626.20
Delivery man/ Utility man 8,653.68 626.20
Driver/ Utility man 8,653.68 626.20

2019
Worker (1) 12,241.20 884.00
Worker (2) 12,241.20 884.00
Worker (3) 12,241.20 884.00
Salesperson 8,740.22 626.20
Security Guard 8,740.22 626.20
Delivery man/ Utility man 8,740.22 626.20
Driver/ Utility man 8,740.22 626.20

2020
Worker (1) 12,363.61 920.80
Worker (2) 12,363.61 920.80
Worker (3) 12,363.61 920.80
Salesperson 8,827.62 663.00
Security Guard 8,827.62 663.00
Delivery man/ Utility man 8,827.62 663.00
Driver/ Utility man 8,827.62 663.00

2021
Worker (1) 12,487.25 920.80
Worker (2) 12,487.25 920.80
Worker (3) 12,487.25 920.80
Salesperson 8,915.90 663.00
Security Guard 8,915.90 663.00
Delivery man/ Utility man 8,915.90 663.00
Driver/ Utility man 8,915.90 663.00
 Schedule
SSS Contribution, Beginning
SSS Contribution Expense 28
SSS Contribution Payable
Prior
Current
Accrued SSS Contribution Payable

Schedule 3
PhilHealth Contributi

Employee Monthly Contribution

Monthly ER
Salary

2017
Worker (1) 12,000.00 150.00
Worker (2) 12,000.00 150.00
Worker (3) 12,000.00 150.00
Salesperson 8,568.00 100.00
Security Guard 8,568.00 100.00
Delivery man/ Utility man 8,568.00 100.00
Driver/ Utility man 8,568.00 100.00

2018
Worker (1) 12,120.00 150.00
Worker (2) 12,120.00 150.00
Worker (3) 12,120.00 150.00
Salesperson 8,653.68 100.00
Security Guard 8,653.68 100.00
Delivery man/ Utility man 8,653.68 100.00
Driver/ Utility man 8,653.68 100.00

2019
Worker (1) 12,241.20 150.00
Worker (2) 12,241.20 150.00
Worker (3) 12,241.20 150.00
Salesperson 8,740.22 100.00
Security Guard 8,740.22 100.00
Delivery man/ Utility man 8,740.22 100.00
Driver/ Utility man 8,740.22 100.00

2020
Worker (1) 12,363.61 150.00
Worker (2) 12,363.61 150.00
Worker (3) 12,363.61 150.00
Salesperson 8,827.62 100.00
Security Guard 8,827.62 100.00
Delivery man/ Utility man 8,827.62 100.00
Driver/ Utility man 8,827.62 100.00

2021
Worker (1) 12,487.25 150.00
Worker (2) 12,487.25 150.00
Worker (3) 12,487.25 150.00
Salesperson 8,915.90 100.00
Security Guard 8,915.90 100.00
Delivery man/ Utility man 8,915.90 100.00
Driver/ Utility man 8,915.90 100.00

Schedule
PhilHealth Contribution, Beginning
PhilHealth Contribution Expense 30
PhilHealth Contribution Payable
Prior
Current
Accrued PhilHealth Contribution Payable

Schedule 3
Pag-ibig Contributio

Monthly Contribution

Monthly
Employee ER
Salary
2017
Worker (1) 12,000.00 240.00
Worker (2) 12,000.00 240.00
Worker (3) 12,000.00 240.00
Salesperson 8,568.00 171.36
Security Guard 8,568.00 171.36
Delivery man/ Utility man 8,568.00 171.36
Driver/ Utility man 8,568.00 171.36

2018
Worker (1) 12,120.00 242.40
Worker (2) 12,120.00 242.40
Worker (3) 12,120.00 242.40
Salesperson 8,653.68 173.07
Security Guard 8,653.68 173.07
Delivery man/ Utility man 8,653.68 173.07
Driver/ Utility man 8,653.68 173.07

2019
Worker (1) 12,241.20 244.82
Worker (2) 12,241.20 244.82
Worker (3) 12,241.20 244.82
Salesperson 8,740.22 174.80
Security Guard 8,740.22 174.80
Delivery man/ Utility man 8,740.22 174.80
Driver/ Utility man 8,740.22 174.80

2020
Worker (1) 12,363.61 247.27
Worker (2) 12,363.61 247.27
Worker (3) 12,363.61 247.27
Salesperson 8,827.62 176.55
Security Guard 8,827.62 176.55
Delivery man/ Utility man 8,827.62 176.55
Driver/ Utility man 8,827.62 176.55
Driver/ Utility man

2021
Worker (1) 12,487.25 249.74
Worker (2) 12,487.25 249.74
Worker (3) 12,487.25 249.74
Salesperson 8,915.90 178.32
Security Guard 8,915.90 178.32
Delivery man/ Utility man 8,915.90 178.32
Driver/ Utility man 8,915.90 178.32
 Schedule
Pag-ibig Contribution, Beginning
Pag-ibig Contribution Expense 32
Pag-ibig Contribution Payable
Prior
Current
Accrued Pag-ibig Contribution Payable

Sched
Workers (3) 5
Salesperson 22
Security Guard 22
Driver/ Utility Man 22
Delivery Man/ Utility Man 22
Total

Sched
Cost of Raw Materials 4
Indirect Materials 10
Advertising Expenses 11
Office Supplies 24
Cleaning Supplies 26
Gasoline Expense 27
Utilities Expense 12
Research and Study Cost Note 1
Office Furniture and Fixtures 20
Office Equipment 19
Production Equipment Note 5
Production Furniture and Fixtures Note 6
Production Tools Note 9
Delivery Truck Note 13
Total

Schedule
OUTPUT VAT
Sales 1
Vat Percentage
Output Vat
Less: Input Vat
Purchases 35

Input Vat

TOTAL VAT PAYABLE

Schedule
VAT Payable, Beginning
VAT
VAT Payable
Prior
Current
VAT Payable, End

Schedule
Utilities, Beginning
Utilities Expense 12
Utilities Payable
Prior
Current
Accrued Utilities Expense

Sche
Withholding
Monthly Salary Deduction
Salary
2017
Worker (1) 12,000.00 826.00
Worker (2) 12,000.00 826.00
Worker (3) 12,000.00 826.00
Salesperson 8,568.00 580.16
Security Guard 8,568.00 580.16
Delivery man/ Utility man 8,568.00 580.16
Driver/ Utility man 8,568.00 580.16
2018
Worker (1) 12,120.00 828.40
Worker (2) 12,120.00 828.40
Worker (3) 12,120.00 828.40
Salesperson 8,653.68 581.87
Security Guard 8,653.68 581.87
Delivery man/ Utility man 8,653.68 581.87
Driver/ Utility man 8,653.68 581.87

2019
Worker (1) 12,241.20 830.82
Worker (2) 12,241.20 830.82
Worker (3) 12,241.20 830.82
Salesperson 8,740.22 583.60
Security Guard 8,740.22 583.60
Delivery man/ Utility man 8,740.22 583.60
Driver/ Utility man 8,740.22 583.60

2020
Worker (1) 12,363.61 851.47
Worker (2) 12,363.61 851.47
Worker (3) 12,363.61 851.47
Salesperson 8,827.62 603.55
Security Guard 8,827.62 603.55
Delivery man/ Utility man 8,827.62 603.55
Driver/ Utility man 8,827.62 603.55

2021
Worker (1) 12,487.25 853.94
Worker (2) 12,487.25 853.94
Worker (3) 12,487.25 853.94
Salesperson 8,915.90 605.32
Security Guard 8,915.90 605.32
Delivery man/ Utility man 8,915.90 605.32
Driver/ Utility man 8,915.90 605.32

Sched
Withholding Tax, Beginning
Withholdiing Tax Expense 39
Withholding Tax Payable
Prior
Current
Accrued Withholding Tax Payable

Schedule
Raw Materials 4
Manufacturing Overhead
Indirect Materials 10
Total
Selling and Administrative Expense
Gasoline Expese 27
Office Supplies 24
Cleaning Supplies 26
Total
Total Variable Cost

Schedule
Direct Labor 5
Manufacturing Overhead
Depreciation Expense - Production Equiment 7
Depreciation Expense - Production Furniture and Fixtures 7
Utilities Expense 12
Salaries and wages expense 28,30,32
Rent Expense 13
Employee Benefits 28,30,32
13th Month Pay 34
Withholding Tax Expense 39
Repairs and Maintenance 14
Production Tools Expense Note 9
Total Manufacturing Overhead
Selling and Administrative Expenses
Depreciation Expense - Office Furniture and Fixtures 18
Depreciation Expense - Office Equipment 18
Utilities Expense 12
Research and Study Cost Note 1
Repair and Maintenance 15
Rent Expense 13
Advertising Expense 11
Salaries and wages expense 22,28,30,32
Retainer's Fees 23
13th Month Pay 34
Employee Benefits 28,30,32
Depreciation Expense - Delivery Truck 18
Permits and Licenses 25
Withholding Tax Expense 39
Total Selling and Administrative Expenses
Total Fixed Cost

Loans Payable
Less: Short Term Portion
Long-term Portion of Loans Payable

BPI
Payment on Notes
Date Payable

1 50,000.00
2 50,000.00
3 50,000.00
4 50,000.00
5 50,000.00

Sched
Bank Loan 44
Total Interest

Bank Loan Sched

Total Interest 44
Rent Expense 13
x EWT rate
EWTP on Rent

Retainer's Fee 23
x EWT rate
EWTP on Retaier's Fee
TOTAL

Sched
Expanded Withholding Tax, Beginning
Expanded Withholdiing Tax 47
Expanded Withholding Tax Payable
Prior
Current
Accrued Withholding Tax Payable

Income before tax

Less: Basic Personal Exemption
Taxable Income
Less: Income Bracket
Excess of bracket
Mulitply by Percentage available
Additional tax Due
Add: Basic Tax Due
Income Tax Due

Sched
Income Tax, Beginning
Income Tax Expense 49
Income Tax Payable
Prior
Current
Accrued Income Tax Payable
 Schedule 1
Projected Sales
2017 2018 2019 2020 2021
623 561 505 455 501
4,975.16 4,978.50 4,996.47 4,986.46 4,986.52
3,099,524.79 2,792,936.50 2,523,217.64 2,268,840.34 2,498,244.27

Schedule 2
Selling Price
2017 2018 2019 2020 2021
999,165.60 899,249.04 809,046.59 728,558.25 802,107.94
432,000.00 436,320.00 440,683.20 445,090.03 449,540.93
555,366.86 534,830.83 519,550.06 507,937.47 523,108.50
1,986,532.46 1,870,399.87 1,769,279.85 1,681,585.76 1,774,757.37
720 648 583 525 578
2,759.07 2,886.42 3,034.79 3,203.02 3,070.51
61% 54% 47% 39% 45%
4,442.11 4,445.09 4,461.13 4,452.20 4,452.25
4,975.16 4,978.50 4,996.47 4,986.46 4,986.52

Schedule 3
Cost of Goods Sold
2017 2018 2019 2020 2021
999,165.60 899,249.04 809,046.59 728,558.25 802,107.94
432,000.00 436,320.00 440,683.20 445,090.03 449,540.93
555,366.86 534,830.83 519,550.06 507,937.47 523,108.50
1,986,532.46 1,870,399.87 1,769,279.85 1,681,585.76 1,774,757.37
267,630.07 518,748.57 755,461.82 979,673.26
1,986,532.46 2,138,029.94 2,288,028.42 2,437,047.58 2,754,430.63
267,630.07 518,748.57 755,461.82 979,673.26 1,216,102.87
1,718,902.39 1,619,281.37 1,532,566.60 1,457,374.32 1,538,327.75

Schedule 4
Cost of Raw Materials
2017 2018 2019 2020 2021

414,000.00 372,600.00 335,225.00 301,875.00 332,350.00

27,900.00 25,110.00 22,591.25 20,343.75 22,397.50
7,560.00 6,804.00 6,121.50 5,512.50 6,069.00
96,220.80 86,598.72 77,912.12 70,161.00 77,243.92
132,480.00 119,232.00 107,272.00 96,600.00 106,352.00
221,760.00 199,584.00 179,564.00 161,700.00 178,024.00
35,640.00 32,076.00 28,858.50 25,987.50 28,611.00
63,604.80 57,244.32 51,502.22 46,378.50 51,060.52
999,165.60 899,249.04 809,046.59 728,558.25 802,107.94
 Schedule 5
Direct Labor
2017 2018 2019 2020 2021
144,000.00 145,440.00 146,894.40 148,363.34 149,846.98
3 3 3 3 3
432,000.00 436,320.00 440,683.20 445,090.03 449,540.93

Schedule 6
Manufacturing Overhead
2017 2018 2019 2020 2021

420.00 420.00 420.00 420.00 420.00

2,030.43 2,030.43 2,030.43 2,030.43 2,030.43
7,800.00 7,878.00 7,956.78 8,036.35 8,116.71
29,736.00 29,822.40 29,909.66 30,653.00 30,742.02
210,000.00 210,000.00 210,000.00 210,000.00 210,000.00
45,864.00 45,950.40 46,037.66 47,450.60 47,539.62
36,000.00 36,360.00 36,723.60 37,090.84 37,461.74
33,952.68 34,799.40 35,654.76 36,387.36 37,259.64
500.00 505.00 510.05 515.15 520.30
3,435.75
369,738.86 367,765.63 369,242.95 372,583.72 374,090.46 369,738.86 367,765.63

185,628.00 167,065.20 150,307.12 135,353.75 149,018.03

185,628.00 167,065.20 150,307.12 135,353.75 149,018.03 340,798.56 343,623.35
555,366.86 534,830.83 519,550.06 507,937.47 523,108.50

Schedule 7
Depreciation Expenses - Production
2017 2018 2019 2020 2021
300.00 300.00 300.00 300.00 300.00
120.00 120.00 120.00 120.00 120.00
420.00 420.00 420.00 420.00 420.00
171.43 171.43 171.43 171.43 171.43
159.00 159.00 159.00 159.00 159.00
180.00 180.00 180.00 180.00 180.00
120.00 120.00 120.00 120.00 120.00
630.43 630.43 630.43 630.43 630.43
1,400.00 1,400.00 1,400.00 1,400.00 1,400.00
2,450.43 2,450.43 2,450.43 2,450.43 2,450.43

Schedule 8
Production Equipment, net (Book Value)
2017 2018 2019 2020 2021
 2,100.00 2,100.00 2,100.00 2,100.00 2,100.00
420.00 840.00 1,260.00 1,680.00
420.00 420.00 420.00 420.00 420.00
420.00 840.00 1,260.00 1,680.00 2,100.00
1,680.00 1,260.00 840.00 420.00 -

Schedule 9
Production Furniture and Fixtures (Book Value)
2017 2018 2019 2020 2021
3,495.00 3,495.00 3,495.00 3,495.00 3,495.00
630.43 1,260.86 1,891.29 2,521.71
630.43 630.43 630.43 630.43 630.43
630.43 1,260.86 1,891.29 2,521.71 3,152.14
2,864.57 2,234.14 1,603.71 973.29 342.86

Schedule 10
Indirect Materials
2017 2018 2019 2020 2021
1,668.00 1,501.20 1,350.62 1,216.25 1,339.03
4,320.00 3,888.00 3,498.00 3,150.00 3,468.00
96,000.00 86,400.00 77,733.33 70,000.00 77,066.67
1,200.00 1,080.00 971.67 875.00 963.33
30,240.00 27,216.00 24,486.00 22,050.00 24,276.00
48,600.00 43,740.00 39,352.50 35,437.50 39,015.00
3,600.00 3,240.00 2,915.00 2,625.00 2,890.00
185,628.00 167,065.20 150,307.12 135,353.75 149,018.03

Schedule 11
Advertising Expense
2017 2018 2019 2020 2021
400.00 100.00 100.00 100.00 100.00

Schedule 12
Utilities Expense
2018 2019 2020 2021
Admin M.O Admin M.O Admin M.O Admin
6,060.00 6,120.60 6,120.60 6,181.81 6,181.81 6,243.62 6,243.62
606.00 612.06 612.06 618.18 618.18 624.36 624.36
1,212.00 1,224.12 1,224.12 1,236.36 1,236.36 1,248.72 1,248.72
14,531.88 14,677.20 14,823.97 14,972.21
22,409.88 7,956.78 22,633.98 8,036.35 22,860.32 8,116.71 23,088.92
30,287.88 30,590.76 30,896.67 31,205.63
Schedule 13
Rent Expense
2018 2019 2020 2021
 Admin M.O Admin M.O Admin M.O Admin
90,000.00 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00
120,000.00 120,000.00 120,000.00 120,000.00 120,000.00 120,000.00 120,000.00
210,000.00 210,000.00 210,000.00 210,000.00 210,000.00 210,000.00 210,000.00

Schedule 14
Repairs and Maintenance (Production)
2017 2018 2019 2020 2021
500.00 505.00 510.05 515.15 520.30
500.00 505.00 510.05 515.15 520.30

Schedule 15
Repairs and Maintenance (Office)
2017 2018 2019 2020 2021
500.00 505.00 510.05 515.15 520.30
500.00 505.00 510.05 515.15 520.30

Schedule 16
Finished Goods Inventory, end (in Units)
2017 2018 2019 2020 2021
720 648 583 525 578
97 184 262 332
720 745 767 787 910
623 561 505 455 501
97 184 262 332 409
87 78 70 77
Schedule 16.1
Finished Goods Inventory, end (in Peso)
2017 2018 2019 2020 2021
1,986,532.46 1,870,399.87 1,769,279.85 1,681,585.76 1,774,757.37
267,630.07 518,748.57 755,461.82 979,673.26
1,986,532.46 2,138,029.94 2,288,028.42 2,437,047.58 2,754,430.63
1,718,902.39 1,619,281.37 1,532,566.60 1,457,374.32 1,538,327.75
267,630.07 518,748.57 755,461.82 979,673.26 1,216,102.87
Schedule 17
Selling and Administrative Expenses
2017 2018 2019 2020 2021

1,224.57 1,224.57 1,224.57 1,224.57 1,224.57

4,420.00 4,420.00 4,420.00 4,420.00 4,420.00
22,188.00 22,409.88 22,633.98 22,860.32 23,088.92
9,125.00
500.00 505.00 510.05 515.15 520.30
210,000.00 210,000.00 210,000.00 210,000.00 210,000.00
400.00 100.00 100.00 100.00 100.00
439,111.68 443,306.57 447,543.41 452,696.22 457,018.23
3,000.00 3,000.00 3,000.00 3,000.00 3,000.00
34,272.00 34,614.72 34,960.87 35,310.48 35,663.58
43,082.88 43,165.13 43,248.21 45,098.51 45,183.26
30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
7,611.00 6,571.00 6,571.00 6,571.00 6,571.00
19,510.08 20,107.20 20,724.96 21,210.72 21,833.76
824,445.21 819,424.08 824,937.05 833,006.98 838,623.62 794,445.21 789,424.08

1,128.75 1,140.04 1,151.44 1,162.95 1,174.58

1,481.40 1,644.35 1,675.61 1,693.85 1,710.94
3,555.90 3,947.05 4,022.08 4,065.86 4,106.87
6,166.05 6,731.44 6,849.13 6,922.66 6,992.39
830,611.26 826,155.52 831,786.18 839,929.63 845,616.01

Schedule 18
Depreciation Expense - Office
2017 2018 2019 2020 2021
228.43 228.43 228.43 228.43 228.43
85.71 85.71 85.71 85.71 85.71
159.00 159.00 159.00 159.00 159.00
571.43 571.43 571.43 571.43 571.43
180.00 180.00 180.00 180.00 180.00
1,224.57 1,224.57 1,224.57 1,224.57 1,224.57
4,000.00 4,000.00 4,000.00 4,000.00 4,000.00
300.00 300.00 300.00 300.00 300.00
120.00 120.00 120.00 120.00 120.00
4,420.00 4,420.00 4,420.00 4,420.00 4,420.00
30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
35,644.57 35,644.57 35,644.57 35,644.57 35,644.57
38,095.00
Schedule 19
Office Equipment, net (Book Value)
2017 2018 2019 2020 2021
22,100.00 22,100.00 22,100.00 22,100.00 22,100.00
4,420.00 8,840.00 13,260.00 17,680.00
4,420.00 4,420.00 4,420.00 4,420.00 4,420.00
4,420.00 8,840.00 13,260.00 17,680.00 22,100.00
17,680.00 13,260.00 8,840.00 4,420.00 -

Schedule 20
Office Furniture and Fixtures (Book Value)
2017 2018 2019 2020 2021
7,894.00 7,894.00 7,894.00 7,894.00 7,894.00
1,224.57 2,449.14 3,673.71 4,898.29
 1,224.57 1,224.57 1,224.57 1,224.57 1,224.57
1,224.57 2,449.14 3,673.71 4,898.29 6,122.86
6,669.43 5,444.86 4,220.29 2,995.71 1,771.14

Schedule 21
Delivery Truck (Book Value)
2017 2018 2019 2020 2021
150,000.00 150,000.00 150,000.00 150,000.00 150,000.00
30,000.00 60,000.00 90,000.00 120,000.00
30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
30,000.00 60,000.00 90,000.00 120,000.00 150,000.00
120,000.00 90,000.00 60,000.00 30,000.00 -

Schedule 22
Salaries Expense
2017 2018 2019 2020 2021
8,568.00 8,653.68 8,740.22 8,827.62 8,915.90
12.00 12.00 12.00 12.00 12.00
102,816.00 103,844.16 104,882.60 105,931.43 106,990.74

8,568.00 8,653.68 8,740.22 8,827.62 8,915.90

12.00 12.00 12.00 12.00 12.00
102,816.00 103,844.16 104,882.60 105,931.43 106,990.74

8,568.00 8,653.68 8,740.22 8,827.62 8,915.90

12.00 12.00 12.00 12.00 12.00
102,816.00 103,844.16 104,882.60 105,931.43 106,990.74

8,568.00 8,653.68 8,740.22 8,827.62 8,915.90

12.00 12.00 12.00 12.00 12.00
102,816.00 103,844.16 104,882.60 105,931.43 106,990.74
411,264.00 415,376.64 419,530.41 423,725.71 427,962.97

Schedule 23
Retainer's Fees
2017 2018 2019 2020 2021
3,000.00 3,000.00 3,000.00 3,000.00 3,000.00
3,000.00 3,000.00 3,000.00 3,000.00 3,000.00

Schedule 24
Office Supplies Expense
2017 2018 2019 2020 2021
3,951.00 3,990.51 4,030.42 4,070.72 4,111.43
395.10 438.56 446.90 451.76
 3,951.00 4,385.61 4,468.98 4,517.62 4,563.19
395.10 438.56 446.90 451.76 456.32
3,555.90 3,947.05 4,022.08 4,065.86 4,106.87

Schedule 25
Permits and Licenses
2017 2018 2019 2020 2021
250.00 250.00 250.00 250.00 250.00
1,200.00 1,200.00 1,200.00 1,200.00 1,200.00
400.00 400.00 400.00 400.00 400.00
40.00
1,000.00 1,000.00 1,000.00 1,000.00 1,000.00
1,000.00
200.00 200.00 200.00 200.00 200.00
421.00 421.00 421.00 421.00 421.00
2,500.00 2,500.00 2,500.00 2,500.00 2,500.00
600.00 600.00 600.00 600.00 600.00
7,611.00 6,571.00 6,571.00 6,571.00 6,571.00

Schedule 26
Cleaning Supplies Expense
2017 2018 2019 2020 2021
1,646.00 1,662.46 1,679.08 1,695.88 1,712.83
164.60 182.71 186.18 188.21
1,646.00 1,827.06 1,861.79 1,882.05 1,901.04
164.60 182.71 186.18 188.21 190.10
1,481.40 1,644.35 1,675.61 1,693.85 1,710.94

Schedule 27
Gasoline Expense
2017 2018 2019 2020 2021
1,128.75 1,140.04 1,151.44 1,162.95 1,174.58
1,128.75 1,140.04 1,151.44 1,162.95 1,174.58

Schedule 28
SSS Contribution Expense

ntribution Total Monthly Multiplied by Total Annual

Contribution 12 Months Contribution Charge to MOH S and A

EE

436.00 1,320.00 12 15,840.00 15,840.00

436.00 1,320.00 12 15,840.00 15,840.00
436.00 1,320.00 12 15,840.00 15,840.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00

436.00 1,320.00 12 15,840.00 15,840.00

436.00 1,320.00 12 15,840.00 15,840.00
436.00 1,320.00 12 15,840.00 15,840.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00

436.00 1,320.00 12 15,840.00 15,840.00

436.00 1,320.00 12 15,840.00 15,840.00
436.00 1,320.00 12 15,840.00 15,840.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00
308.80 935.00 12 11,220.00 11,220.00

454.20 1,375.00 12 16,500.00 16,500.00

454.20 1,375.00 12 16,500.00 16,500.00
454.20 1,375.00 12 16,500.00 16,500.00
327.00 990.00 12 11,880.00 11,880.00
327.00 990.00 12 11,880.00 11,880.00
327.00 990.00 12 11,880.00 11,880.00
327.00 990.00 12 11,880.00 11,880.00

454.20 1,375.00 12 16,500.00 16,500.00

454.20 1,375.00 12 16,500.00 16,500.00
454.20 1,375.00 12 16,500.00 16,500.00
327.00 990.00 12 11,880.00 11,880.00
327.00 990.00 12 11,880.00 11,880.00
327.00 990.00 12 11,880.00 11,880.00
327.00 990.00 12 11,880.00 11,880.00
 Schedule 29
Accrued SSS Contribution
2017 2018 2019 2020 2021
7,700.00 7,700.00 7,700.00 8,085.00
92,400.00 92,400.00 92,400.00 97,020.00 97,020.00
92,400.00 100,100.00 100,100.00 104,720.00 105,105.00
7,700.00 7,700.00 7,700.00 8,085.00
84,700.00 84,700.00 84,700.00 88,935.00 88,935.00
7,700.00 7,700.00 7,700.00 8,085.00 8,085.00

Schedule 30
PhilHealth Contribution Expense

Total Monthly Multiplied by Total Annual Charge to S and A

Contribution 12 Months Contribution MOH

EE

150.00 300.00 12 3,600.00 3,600.00

150.00 300.00 12 3,600.00 3,600.00
150.00 300.00 12 3,600.00 3,600.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00

150.00 300.00 12 3,600.00 3,600.00

150.00 300.00 12 3,600.00 3,600.00
150.00 300.00 12 3,600.00 3,600.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00

150.00 300.00 12 3,600.00 3,600.00

150.00 300.00 12 3,600.00 3,600.00
150.00 300.00 12 3,600.00 3,600.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
 100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00

150.00 300.00 12 3,600.00 3,600.00

150.00 300.00 12 3,600.00 3,600.00
150.00 300.00 12 3,600.00 3,600.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00

150.00 300.00 12 3,600.00 3,600.00

150.00 300.00 12 3,600.00 3,600.00
150.00 300.00 12 3,600.00 3,600.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00
100.00 200.00 12 2,400.00 2,400.00

Schedule 31
Accrued PhilHealth Contribution
2017 2018 2019 2020 2021
1,700.00 1,700.00 1,700.00 1,700.00
20,400.00 20,400.00 20,400.00 20,400.00 20,400.00
20,400.00 22,100.00 22,100.00 22,100.00 22,100.00
1,700.00 1,700.00 1,700.00 1,700.00
18,700.00 18,700.00 18,700.00 18,700.00 18,700.00
1,700.00 1,700.00 1,700.00 1,700.00 1,700.00

Schedule 32
Pag-ibig Contribution Expense

Total Monthly Multiplied by Total Annual

thly Contribution Contribution Charge to MOH S and A
Contribution 12 months

EE

240.00 480.00 12 5,760.00 5,760.00

240.00 480.00 12 5,760.00 5,760.00
240.00 480.00 12 5,760.00 5,760.00
171.36 342.72 12 4,112.64 4,112.64
171.36 342.72 12 4,112.64 4,112.64
171.36 342.72 12 4,112.64 4,112.64
171.36 342.72 12 4,112.64 4,112.64

242.40 484.80 12 5,817.60 5,817.60

242.40 484.80 12 5,817.60 5,817.60
242.40 484.80 12 5,817.60 5,817.60
173.07 346.15 12 4,153.77 4,153.77
173.07 346.15 12 4,153.77 4,153.77
173.07 346.15 12 4,153.77 4,153.77
173.07 346.15 12 4,153.77 4,153.77

244.82 489.65 12 5,875.78 5,875.78

244.82 489.65 12 5,875.78 5,875.78
244.82 489.65 12 5,875.78 5,875.78
174.80 349.61 12 4,195.30 4,195.30
174.80 349.61 12 4,195.30 4,195.30
174.80 349.61 12 4,195.30 4,195.30
174.80 349.61 12 4,195.30 4,195.30

247.27 494.54 12 5,934.53 5,934.53

247.27 494.54 12 5,934.53 5,934.53
247.27 494.54 12 5,934.53 5,934.53
176.55 353.10 12 4,237.26 4,237.26
176.55 353.10 12 4,237.26 4,237.26
176.55 353.10 12 4,237.26 4,237.26
176.55 353.10 12 4,237.26 4,237.26

249.74 499.49 12 5,993.88 5,993.88

249.74 499.49 12 5,993.88 5,993.88
249.74 499.49 12 5,993.88 5,993.88
178.32 356.64 12 4,279.63 4,279.63
178.32 356.64 12 4,279.63 4,279.63
178.32 356.64 12 4,279.63 4,279.63
178.32 356.64 12 4,279.63 4,279.63
 Schedule 33
Accrued Pag-Ibig Contribution
2017 2018 2019 2020 2021
2,810.88 2,838.99 2,867.38 2,896.05
33,730.56 34,067.87 34,408.54 34,752.63 35,100.16
33,730.56 36,878.75 37,247.53 37,620.01 37,996.21
2,810.88 2,838.99 2,867.38 2,896.05
30,919.68 31,228.88 31,541.16 31,856.58 32,175.15
2,810.88 2,838.99 2,867.38 2,896.05 2,925.01

Schedule 34
13th Month Pay
2017 2018 2019 2020 2021
36,000.00 36,360.00 36,723.60 37,090.84 37,461.74
8,568.00 8,653.68 8,740.22 8,827.62 8,915.90
8,568.00 8,653.68 8,740.22 8,827.62 8,915.90
8,568.00 8,653.68 8,740.22 8,827.62 8,915.90
8,568.00 8,653.68 8,740.22 8,827.62 8,915.90
70,272.00 70,974.72 71,684.47 72,401.31 73,125.32

Schedule 35
Purchases
2017 2018 2019 2020 2021
999,165.60 899,249.04 809,046.59 728,558.25 802,107.94
185,628.00 167,065.20 150,307.12 135,353.75 149,018.03
400.00 100.00 100.00 100.00 100.00
3,951.00 3,990.51 4,030.42 4,070.72 4,111.43
1,646.00 1,662.46 1,679.08 1,695.88 1,712.83
1,128.75 1,140.04 1,151.44 1,162.95 1,174.58
29,988.00 30,287.88 30,590.76 30,896.67 31,205.63
9,125.00
7,894.00
22,100.00
2,100.00
3,495.00
3,435.75
150,000.00
1,420,057.10 1,103,495.13 996,905.40 901,838.21 989,430.45

Schedule 36
VAT Payable
2017 2018 2019 2020 2021

3,099,524.79 2,792,936.50 2,523,217.64 2,268,840.34 2,498,244.27

112% 112% 112% 112% 112%
 12% 12% 12% 12% 12%
332,091.94 299,243.20 270,344.75 243,090.04 267,669.03

1,420,057.10 1,103,495.13 996,905.40 901,838.21 989,430.45

112% 112% 112% 112% 112%
12% 12% 12% 12% 12%
152,148.98 118,231.62 106,811.29 96,625.52 106,010.41

179,942.97 181,011.58 163,533.45 146,464.51 161,658.62

1,068.61 (17,478.12) (17,068.94) 15,194.11

Schedule 37
Accrued VAT Payable
2017 2018 2019 2020 2021
14,995.25 15,084.30 13,627.79 12,205.38
179,942.97 181,011.58 163,533.45 146,464.51 161,658.62
179,942.97 196,006.82 178,617.75 160,092.30 173,864.00
14,995.25 15,084.30 13,627.79 12,205.38
164,947.72 165,927.28 149,905.67 134,259.14 148,187.07
14,995.25 15,084.30 13,627.79 12,205.38 13,471.55
89.05 (1,456.51) (1,422.41) 1,266.18
Schedule 38
Accrued Utilities Expense
2017 2018 2019 2020 2021
2,499.00 2,523.99 2,549.23 2,574.72
29,988.00 30,287.88 30,590.76 30,896.67 31,205.63
29,988.00 32,786.88 33,114.75 33,445.90 33,780.36
2,499.00 2,523.99 2,549.23 2,574.72
27,489.00 27,763.89 28,041.53 28,321.94 28,605.16
2,499.00 2,523.99 2,549.23 2,574.72 2,600.47
24.99 25.24 25.49 25.75
Schedule 39
Withholding Tax (employee)
Taxable Withholding Total
Income Expense

11,174.00 943.13 11,317.56

11,174.00 943.13 11,317.56
11,174.00 943.13 11,317.56
7,987.84 406.46 4,877.52
7,987.84 406.46 4,877.52
7,987.84 406.46 4,877.52
7,987.84 406.46 4,877.52 53,462.76
11,291.60 966.65 11,599.80
11,291.60 966.65 11,599.80
11,291.60 966.65 11,599.80
8,071.81 418.90 5,026.80
8,071.81 418.90 5,026.80
8,071.81 418.90 5,026.80
8,071.81 418.90 5,026.80 54,906.60

11,410.38 990.41 11,884.92

11,410.38 990.41 11,884.92
11,410.38 990.41 11,884.92
8,156.61 431.77 5,181.24
8,156.61 431.77 5,181.24
8,156.61 431.77 5,181.24
8,156.61 431.77 5,181.24 56,379.72

11,512.14 1,010.76 12,129.12

11,512.14 1,010.76 12,129.12
11,512.14 1,010.76 12,129.12
8,224.07 441.89 5,302.68
8,224.07 441.89 5,302.68
8,224.07 441.89 5,302.68
8,224.07 441.89 5,302.68 57,598.08

11,633.31 1,034.99 12,419.88

11,633.31 1,034.99 12,419.88
11,633.31 1,034.99 12,419.88
8,310.58 454.87 5,458.44
8,310.58 454.87 5,458.44
8,310.58 454.87 5,458.44
8,310.58 454.87 5,458.44 59,093.40

Schedule 40
Accrued Withholding Tax Payable
2017 2018 2019 2020 2021
4,455.23 4,575.55 4,698.31 4,799.84
53,462.76 54,906.60 56,379.72 57,598.08 59,093.40
53,462.76 59,361.83 60,955.27 62,296.39 63,893.24
 4,455.23 4,575.55 4,698.31 4,799.84
49,007.53 50,331.05 51,681.41 52,798.24 54,168.95
4,455.23 4,575.55 4,698.31 4,799.84 4,924.45
120.32 122.76 101.53 124.61
Schedule 41
Variable Cost
2017 2018 2019 2020 2021
999,165.60 899,249.04 809,046.59 728,558.25 802,107.94

185,628.00 167,065.20 150,307.12 135,353.75 149,018.03

185,628.00 167,065.20 150,307.12 135,353.75 149,018.03 555,366.86
#REF!
1,128.75 1,140.04 1,151.44 1,162.95 1,174.58
3,555.90 3,947.05 4,022.08 4,065.86 4,106.87
1,481.40 1,644.35 1,675.61 1,693.85 1,710.94
6,166.05 6,731.44 6,849.13 6,922.66 6,992.39
1,190,959.65 1,073,045.68 966,202.83 870,834.66 958,118.36

Schedule 42
Fixed Cost
2017 2018 2019 2020 2021
432,000.00 436,320.00 440,683.20 445,090.03 449,540.93

420.00 420.00 420.00 420.00 420.00 Depreciation Expense - Produc

2,030.43 2,030.43 2,030.43 2,030.43 2,030.43 Depreciation Expense - Product
7,800.00 7,878.00 7,956.78 8,036.35 8,116.71 Utilities Expense
29,736.00 29,822.40 29,909.66 30,653.00 30,742.02 SSS Contribution Expense
210,000.00 210,000.00 210,000.00 210,000.00 210,000.00 PhilHealth Contribution Expen
45,864.00 45,950.40 46,037.66 47,450.60 47,539.62 PAG-IBIG Contribution
36,000.00 36,360.00 36,723.60 37,090.84 37,461.74 13th Month Pay
33,952.68 34,799.40 35,654.76 36,387.36 37,259.64 Withholding Tax Expense
500.00 505.00 510.05 515.15 520.30 Repairs and Maintenance
3,435.75 Production Tools Expense
369,738.86 367,765.63 369,242.95 372,583.72 374,090.46 Total Fixed Cost

1,224.57 1,224.57 1,224.57 1,224.57 1,224.57 Depreciation Expense - Office

4,420.00 4,420.00 4,420.00 4,420.00 4,420.00 Depreciation Expense - Office
22,188.00 22,409.88 22,633.98 22,860.32 23,088.92 Utilities Expense
9,125.00 Research and Study Cost
500.00 505.00 510.05 515.15 520.30 Repair and Maintenance
210,000.00 210,000.00 210,000.00 210,000.00 210,000.00 Rent Expense
400.00 100.00 100.00 100.00 100.00 Advertising Expense
439,111.68 443,306.57 447,543.41 452,696.22 457,018.23 Salaries
3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 Retainer's Fees
34,272.00 34,614.72 34,960.87 35,310.48 35,663.58 13th Month Pay
 43,082.88 43,165.13 43,248.21 45,098.51 45,183.26 SSS Contribution Expense
30,000.00 30,000.00 30,000.00 30,000.00 30,000.00 PhilHealth Contribution Expen
7,611.00 6,571.00 6,571.00 6,571.00 6,571.00 Pag-ibig Contribution Expense
19,510.08 20,107.20 20,724.96 21,210.72 21,833.76 Permits and Licenses
824,445.21 819,424.08 824,937.05 833,006.98 838,623.62 Withholding Tax Expense
1,626,184.07 1,623,509.71 1,634,863.20 1,650,680.73 1,662,255.02

Schedule 43
Loans Payable
2017 2018 2019 2020 2021
250,000.00 250,000.00 200,000.00 150,000.00 100,000.00
50,000.00 50,000.00 50,000.00 50,000.00
250,000.00 200,000.00 150,000.00 100,000.00 50,000.00

Schedule 44
Amortization- Bank Loan
1.20%
Interest Running
Total Payment
Expense Balance

250,000.00
3,000.00 53,000.00 200,000.00
2,400.00 52,400.00 150,000.00
1,800.00 51,800.00 100,000.00
1,200.00 51,200.00 50,000.00
600.00 50,600.00 -

Schedule 45
Interest Expense
2017 2018 2019 2020 2021
3,000.00 2,400.00 1,800.00 1,200.00 600.00
3,000.00 2,400.00 1,800.00 1,200.00 600.00

Schedule 46
Interest Payable
2017 2018 2019 2020 2021
3,000.00 2,400.00 1,800.00 1,200.00 600.00
3,000.00 2,400.00 1,800.00 1,200.00 600.00

Schedule 47
Expanded Withholding Tax Payable
2017 2018 2019 2020 2021
420,000.00 420,000.00 420,000.00 420,000.00 420,000.00
5% 5% 5% 5% 5%
21,000.00 21,000.00 21,000.00 21,000.00 21,000.00

3,000.00 3,000.00 3,000.00 3,000.00 3,000.00

10% 10% 10% 10% 10%
300.00 300.00 300.00 300.00 300.00
21,300.00 21,300.00 21,300.00 21,300.00 21,300.00

Schedule 48
Accrued Expanded Withholding Tax Payable
2017 2018 2019 2020 2021
1,775.00 1,775.00 1,775.00 1,775.00
21,300.00 21,300.00 21,300.00 21,300.00 21,300.00
21,300.00 23,075.00 23,075.00 23,075.00 23,075.00
1,775.00 1,775.00 1,775.00 1,775.00
19,525.00 19,525.00 19,525.00 19,525.00 19,525.00
1,775.00 1,775.00 1,775.00 1,775.00 1,775.00
(47,665.87)

Schedule 49
Income Tax Expense
2017 2018 2019 2020 2021
547,511.14 345,609.62 157,585.07 (29,133.01) 114,241.73
50,000.00 50,000.00 50,000.00 50,000.00 50,000.00
497,511.14 295,609.62 107,585.07 (79,133.01) 64,241.73
250,000.00 250,000.00 70,000.00 30,000.00
247,511.14 45,609.62 37,585.07 (79,133.01) 34,241.73
30% 30% 20% 15% (60,570.46)
74,253.34 13,682.89 7,517.01 - 5,136.26
50,000.00 50,000.00 8,500.00 2,500.00
124,253.34 63,682.89 16,017.01 - 7,636.26
(60,570.46) (47,665.87) (16,017.01) 7,636.26

Schedule 50
Accrued Income Tax Payable
2017 2018 2019 2020 2021
10,354.45 5,306.91 1,334.75 -
124,253.34 63,682.89 16,017.01 - 7,636.26
124,253.34 74,037.33 21,323.92 1,334.75 7,636.26
10,354.45 5,306.91 1,334.75 -
113,898.90 58,375.98 14,682.26 - 6,999.90
10,354.45 5,306.91 1,334.75 - 636.35
(5,047.54) (3,972.16) (1,334.75) 636.35
-
369,242.95 372,583.72 374,090.46

346,476.38 351,337.94 354,248.32

794,937.05 803,006.98 808,623.62
 2,450.43 2,450.43 2,450.43 2,450.43 2,450.43
7 420.00 420.00 420.00 420.00 420.00
7 2,030.43 2,030.43 2,030.43 2,030.43 2,030.43
12 7,800.00 7,878.00 7,956.78 8,036.35 8,116.71
26 47,520.00 47,520.00 47,520.00 49,500.00 49,500.00
28 10,800.00 10,800.00 10,800.00 10,800.00 10,800.00
30 17,280.00 17,452.80 17,627.33 17,803.60 17,981.64
32 36,000.00 36,360.00 36,723.60 37,090.84 37,461.74
36 33,952.68 34,799.40 35,654.76 36,387.36 37,259.64
14 500.00 505.00 510.05 515.15 520.30
3,435.75
159,738.86 157,765.63 159,242.95 162,583.72 164,090.46

18 1,224.57 1,224.57 1,224.57 1,224.57 1,224.57

18 4,420.00 4,420.00 4,420.00 4,420.00 4,420.00
12 22,188.00 22,409.88 22,633.98 22,860.32 23,088.92
9,125.00
15 500.00 505.00 510.05 515.15 520.30
13 210,000.00 210,000.00 210,000.00 210,000.00 210,000.00
400.00 100.00 100.00 100.00 100.00
21 411,264.00 415,376.64 419,530.41 423,725.71 427,962.97
22 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00
32 34,272.00 34,614.72 34,960.87 35,310.48 35,663.58
26 44,880.00 44,880.00 44,880.00 47,520.00 47,520.00
28 9,600.00 9,600.00 9,600.00 9,600.00 9,600.00
30 16,450.56 16,615.07 16,781.22 16,949.03 17,118.52
24 7,611.00 6,571.00 6,571.00 6,571.00 6,571.00
36 19,510.08 20,107.20 20,724.96 21,210.72 21,833.76
(16,017.01) 7,636.26
 Space Furniture
Projected Statement of Comprehensive In
For the Year Ended December 31 2017-
2017 2018 2019
Projected Sales 3,099,524.79 2,792,936.50 2,523,217.64
Less: Cost of Goods Sold 1,718,902.39 1,619,281.37 1,532,566.60
Gross Profit 1,380,622.40 1,173,655.14 990,651.05
Less: Selling and Administrative Expense 830,611.26 826,155.52 831,786.18
Operating Income 550,011.14 347,499.62 158,864.87
Add: Other Income 500.00 510.00 520.20
Income before Interest Expense 550,511.14 348,009.62 159,385.07
Less: Interest Expense 3,000.00 2,400.00 1,800.00
Income after Interest Expense 547,511.14 345,609.62 157,585.07
Less: Income Tax Due 124,253.34 63,682.89 16,017.01
Net Income after Tax 423,257.80 281,926.73 141,568.06

Space Furniture
Projected Statement of Cash Flows
For the Year Ended December 2017-20

2017
Cash Flow for Operating Activities
Net Income 423,257.80
Add: Depreciation 38,095.00
(Increase) Decrease
Finish Goods Inventory, end (267,630.07)
Prepaid Supplies (5,037.30)
Accrued Withholding Tax Payable 4,455.23
Accrued SSS Payable 7,700.00
Accrued PhilHealth Payable 1,700.00
Accrued Pag-Ibig Payable 2,810.88
Accrued Income Tax Payable 10,354.45
Accrued VAT Payable 14,995.25
Accrued Utilities Payable 2,499.00
Interest Payable 3,000.00
Net Cash Provided (used) by operating activity 236,200.23
Cash Flow from Investing Activities
Acquisition of Product Equipment (2,100.00)
Acquisition of Product Furniture and Fixture (3,495.00)
Acquisition of Office Equipment (22,100.00)
Acquisition of Office Furniture and Fixture (7,894.00)
Acquisition of Delivery Truck (150,000.00)
Leasehold Improvement (7,000.00)
Net Cash Provided (used) by investing activity (192,589.00)
Cash flow from Financing Activity
Owner's Investment 429,390.30
Additional Investment (Loan from Bank) 250,000.00
Payment for Loan
Withdrawal (50,000.00)
Net Cash Provided (used) by financing activity 629,390.30
Net Increase (Decrease) in Cash 673,001.53
Add: Cash Beginning Balance
Cash, Ending Balance 673,001.53

Space Furniture
Projected Statement of Financial Positi
As of December 31, 2017-2021

2017
ASSETS
Current Assets
Cash 673,001.53
Inventory 267,630.07
Prepaid Supplies 5,037.30
Total Current Assets 945,668.90
Non-Current Assets
Production Equipment, net 1,680.00
Production Furniture and Fixture, net 2,864.57
Office Equipment, net 17,680.00
Office Furniture and Fixture, net 6,669.43
Delivery Truck,net 120,000.00
Leasehold Improvement, net 5,600.00
Total Non-Current Assets 154,494.00
Total Assets 1,100,162.90
LIABILITIES AND OWNER's EQUITY
Current Liabilities
Interest Payable 3,000.00
Accrued Withholding Tax Payable 4,455.23
Accrued SSS Payable 7,700.00
Accrued PhilHealth Payable 1,700.00
Accrued Pag-Ibig Payable 2,810.88
Accrued Income Tax Payable 10,354.45
Loans Payable 50,000.00
Accrued VAT Payable 14,995.25
Accrued Utilities Payable 2,499.00
Total Current Liabilities 97,514.80
Non-Current Liability
Loans Payable 200,000.00
Total Liabilities 297,514.80
Owner's Equity
Owner's Equity, Beg. 429,390.30
Net Income 423,257.80
Withdrawals (50,000.00)
Total Owner's Equity 802,648.10
Total Liabilities and Owner's Equity 1,100,162.90

Space Furniture
Statement of Changes in Owner's Equ
For the Year Ended December 31 2017-
2017 2018 2019
Owner's Equity Beginning 429,390.30 802,648.10 1,034,574.83
Net Income 423,257.80 281,926.73 141,568.06
Total 852,648.10 1,084,574.83 1,176,142.89
Permanent Drawing (50,000.00) (50,000.00) (50,000.00)
Owner's Equity Ending 802,648.10 1,034,574.83 1,126,142.89
pace Furniture
ent of Comprehensive Income
ded December 31 2017-2021
2020 2021
2,268,840.34 2,498,244.27
1,457,374.32 1,538,327.75
811,466.02 959,916.52
839,929.63 845,616.01
(28,463.61) 114,300.51
530.60 541.22
(27,933.01) 114,841.73
1,200.00 600.00
(29,133.01) 114,241.73
- 7,636.26
(29,133.01) 106,605.47

pace Furniture
tatement of Cash Flows
nded December 2017-2021

2018 2019 2020 2021

281,926.73 141,568.06 (29,133.01) 106,605.47

38,095.00 38,095.00 38,095.00 38,095.00

(251,118.50) (236,713.26) (224,211.43) (236,429.61)

(554.10) (106.29) (62.01) (58.10)
120.32 122.76 101.53 124.61
- - 385.00 -
- - - -
28.11 28.39 28.67 28.96
(5,047.54) (3,972.16) (1,334.75) 636.35
89.05 (1,456.51) (1,422.41) 1,266.18
24.99 25.24 25.49 25.75
(600.00) (600.00) (600.00) (600.00)
62,964.06 (63,008.76) (218,127.92) (90,305.40)
 (50,000.00) (50,000.00) (50,000.00) (50,000.00)
(50,000.00) (50,000.00) (50,000.00) (50,000.00)
(100,000.00) (100,000.00) (100,000.00) (100,000.00)
(37,035.94) (163,008.76) (318,127.92) (190,305.40)
673,001.53 635,965.59 472,956.83 154,828.91
635,965.59 472,956.83 154,828.91 (35,476.49)

pace Furniture
ement of Financial Position
ember 31, 2017-2021

2018 2019 2020 2021

635,965.59 472,956.83 154,828.91 (35,476.49)

518,748.57 755,461.82 979,673.26 1,216,102.87
5,591.40 5,697.69 5,759.70 5,817.81
1,160,305.56 1,234,116.34 1,140,261.87 1,186,444.19

1,260.00 840.00 420.00 -

2,234.14 1,603.71 973.29 342.86
13,260.00 8,840.00 4,420.00 -
5,444.86 4,220.29 2,995.71 1,771.14
90,000.00 60,000.00 30,000.00 -
4,200.00 2,800.00 1,400.00 -
116,399.00 78,304.00 40,209.00 2,114.00
1,276,704.56 1,312,420.34 1,180,470.87 1,188,558.19

2,400.00 1,800.00 1,200.00 600.00

4,575.55 4,698.31 4,799.84 4,924.45
7,700.00 7,700.00 8,085.00 8,085.00
1,700.00 1,700.00 1,700.00 1,700.00
2,838.99 2,867.38 2,896.05 2,925.01
5,306.91 1,334.75 - 636.35
50,000.00 50,000.00 50,000.00 50,000.00
15,084.30 13,627.79 12,205.38 13,471.55
2,523.99 2,549.23 2,574.72 2,600.47
92,129.73 86,277.46 83,460.99 84,942.84

150,000.00 100,000.00 50,000.00 -

 242,129.73 186,277.46 133,460.99 84,942.84

802,648.10 1,034,574.83 1,126,142.89 1,047,009.88

281,926.73 141,568.06 (29,133.01) 106,605.47
(50,000.00) (50,000.00) (50,000.00) (50,000.00)
1,034,574.83 1,126,142.89 1,047,009.88 1,103,615.35
1,276,704.56 1,312,420.34 1,180,470.87 1,188,558.19

- - - -

pace Furniture
Changes in Owner's Equity
ded December 31 2017-2020
2020 2021
1,126,142.89 1,047,009.88
(29,133.01) 106,605.47
1,097,009.88 1,153,615.35
(50,000.00) (50,000.00)
1,047,009.88 1,103,615.35
 Current Ratio
2017 2018 2019
Current Asset 945,668.90 1,160,305.56 1,234,116.34
Divide Current Liabilities 97,514.80 92,129.73 86,277.46
Current Ratio 10 13 14

Equity Ratio
2017 2018 2019
Total Equity 802,648.10 1,034,574.83 1,126,142.89
Divide Total Assets 1,100,162.90 1,276,704.56 1,312,420.34
Equity Ratio 73% 81% 86%

Debt Ratio
Total Liabilities 297,514.80 242,129.73 186,277.46
Divide Total Asset 1,100,162.90 1,276,704.56 1,312,420.34
Debt Ratio 27% 19% 14%

Debt-Equity Ratio
2017 2018 2019
Total Liabilities 297,514.80 242,129.73 186,277.46
Divide Total Equity 802,648.10 1,034,574.83 1,126,142.89
Debt-Equity Ratio 37% 23% 17%

Contribution Margin Ratio

2017 2018 2019
Sales 3,099,524.79 2,792,936.50 2,523,217.64
Less: Variable Cost 1,190,959.65 1,073,045.68 966,202.83
Contribution Margin 1,908,565.14 1,719,890.82 1,557,014.81
Divide by: Sales 3,099,524.79 2,792,936.50 2,523,217.64
Contribution Margin Ratio 62% 62% 62%

Break even Point Analysis

2017 2018 2019
Fixed Cost 1,626,184.07 1,623,509.71 1,634,863.20
Divided by: Contribution Margin Ratio 62% 62% 62%
Break even Point in Peso 2,640,935.71 2,636,422.88 2,649,374.71

Return on Investment or Return of Owners' Equity

2017 2018 2019
Net Income 423,257.80 281,926.73 141,568.06
Average Owner's Equity
Owner's Equity, Beginning 429,390.30 802,648.10 1,034,574.83
Owner's Equity, Ending 802,648.10 1,034,574.83 1,126,142.89
Average Owner's Equity 616,019.20 918,611.46 1,080,358.86
Return on Investment 69% 31% 13%

Return on Investment
2017 2018 2019
Net Income 423,257.80 281,926.73 141,568.06
Divide Owners' Equity 429,390.30 802,648.10 1,034,574.83
Return on Investment 99% 35% 14%

Payback Period
Years Net Cash Inflow Cumulative Net Cash Flow Investment
429,390.30
2017 236,200.23 236,200.23
 rent Ratio
2020 2021
1,140,261.87 1,186,444.19
83,460.99 84,942.84
14 14

uity Ratio
2020 2021
1,047,009.88 1,103,615.35
1,180,470.87 1,188,558.19
89% 93%

ebt Ratio
133,460.99 84,942.84
1,180,470.87 1,188,558.19
11% 7%

Equity Ratio
2020 2021
133,460.99 84,942.84
1,047,009.88 1,103,615.35
13% 8%

tion Margin Ratio

2020 2021
2,268,840.34 2,498,244.27
870,834.66 958,118.36
1,398,005.69 1,540,125.91
2,268,840.34 2,498,244.27
62% 62%

en Point Analysis
2020 2021
1,650,680.73 1,662,255.02
62% 62%
2,678,909.73 2,696,350.37

or Return of Owners' Equity

2020 2021
 (29,133.01) 106,605.47

1,126,142.89 1,047,009.88
1,047,009.88 1,103,615.35
1,086,576.38 1,075,312.61
-3% 10%

on Investment
2020 2021
(29,133.01) 106,605.47
1,126,142.89 1,047,009.88
-3% 10%

d
Years to Recover

1.82
Fixed Cost
Divided by: Contribution Margin
Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis Break even Point Analysis
2020 2021 2017 2018 2019 2020 2021
### ### Fixed Cost ### ### ### ### ###
41% 40% Divided by: Contribution Margin 40% 41% 41% 41% 40%
### ### Break even Point in Percentage ### ### ### ### ###
 Break even Point Analysis
2017 2018 2019 2020 2021
Fixed Cost ### ### ### ### ### Fixed Cost
Divided by: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin
Break even Point in Percentage ### ### ### ### ### Break even Point in Percentage
 Break even Point Analysis Break even Point Analy
2017 2018 2019 2020 2021 2017
### ### ### ### ### Fixed Cost ###
y: Contribution Margin 40% 41% 41% 41% 40% Divided by: Contribution Margin 40%
en Point in Percentage ### ### ### ### ### Break even Point in Percentage ###
Break even Point Analysis Break even Point Analysis
2018 2019 2020 2021 2017 2018 2019
### ### ### ### Fixed Cost ### ### ###
41% 41% 41% 40% Divided by: Contribution Margin 40% 41% 41%
### ### ### ### Break even Point in Percentage ### ### ###
Point Analysis
2020 2021
### ###
41% 40%
### ###