GRACE ONG ENTERPRISES

INCOME STATEMENT

2017 2018
Gross Receipts 93,832,158.00 93,909,170.67
Less: Cost of Sales 84,988,879.00 84,512,101.69
Inventory, Beg 13,050,667.00 15,723,941.00
Purchases 87,662,153.00 88,997,559.16
Total 100,712,820.00 104,721,500.16
Inventory, End 15,723,941.00 20,209,398.47
Gross Profit 8,843,279.00 9,397,068.98
Less: Operating Expenses
Salaries & Wages 2,554,647.80 2,631,287.23
SSS/Med & Other Contributions 120,705.00 124,326.15
Repair & Maintenance 576,504.00 599,564.16
Rental Expense 198,000.00 126,000.00
Communication, Light & Water 501,855.30 511,892.41
Taxes & Licenses 737,011.44 773,862.01
Office Supplies 165,006.00 168,306.12
Transportation & Travel 304,138.50 310,221.27
Fuel & Oil 726,263.30 762,576.47
Depreciation 478,000.00 567,141.67
Miscellaneous 25,735.00 28,308.50
Total 6,387,866.34 6,603,485.98
Net Operating Income 2,455,412.66 2,793,583.00
Less: Finance Cost 1,151,100.00 1,251,250.00
Net Income before Tax 1,304,312.66 1,542,333.00
Less: Provision for Income Tax 342,380.00 352,580.00
Net Income for the period 961,932.66 1,189,753.00

counter checking 961,932.66 1,189,753.00

- -

GRACE ONG ENTERPRISES

BALANC SHEET

ASSETS
CURRENT ASSETS
CASH & CASH EQUIVALENTS 21,755,518.76 25,134,609.17
INVENTORY 15,723,941.00 20,209,398.47
ACCOUNTS RECEIVABLES 21,204,423.13 23,878,774.00
TOTAL CURRENT ASSETS 58,683,882.89 69,222,781.64

NON-CURRENT ASSETS
PROPERTY AND EQUIPMENT 21,558,300.35 30,879,900.00
TOTAL ASSETS 80,242,183.24 100,102,681.64

LIABILITIES & STOCKHOLDERS EQUITY

LIABILITIES
OTHER CURRENT PAYABLES 140,599.00 109,639.00
INCOME TAX PAYABLE - 141,200.00
TRADE PAYABLE 13,121,018.00 16,681,527.00
TOTAL CURRENT PAYABLES 13,261,617.00 16,932,366.00

NON CURRENT LIABILITIES

LOANS PAYABLE 60,000,000.00 75,000,000.00

TOTAL LIABILITIES 73,261,617.00 91,932,366.00

EQUITY
BEG 6,518,629.98 6,980,562.64
ADD NET INCOME 961,932.66 1,189,753.00
TOTAL 7,480,562.64 8,170,315.64
LESS DRAWINGS 500,000.00 -
END 6,980,562.64 8,170,315.64

TOTAL LIABILITIES & OWNERS EQUITY 80,242,179.64 100,102,681.64

DETAILS:
1 PROPERTY PLANT & EQUIPMENT 21,558,300.00 28,735,758.33
LAND 9,550,000.00 12,649,600.00
BUILDING 9,000,000.00 10,900,000.00
RESIDENTIAL BUILDING 985,300.00 985,300.00
BUNK HOUSE 350,000.00 350,000.00
SERVICE VEHICLE 3,000,000.00 5,815,000.00
OTHER DEPRECIABLE ASSETS 250,000.00 180,000.00
TOTAL 13,585,300.00 18,230,300.00
LESS ACCUMULATED DEPRECIATION 1,577,000.00 2,144,141.67
BOOK VALUE 12,008,300.00 16,086,158.33

counter checking 80,242,179.64 100,102,681.64

- -
INCREMENTAL DEPRECIATION 478,000.00
NEW VEHICLE - 10 YEARS 281,500.00
6 MONTHS 140,750.00
SGREL CORPORATION
INCOME STATEMENT

2017 2018

SALES (w/ rent) 17,490,549.16 18,035,316.25

LESS COST OF SALES 14,837,417.26 15,213,599.69
BEG INV 5,408,513.00 6,207,698.00
PURCHASES 15,636,602.26 16,812,108.79
TOTAL 21,045,115.26 23,019,806.79
INVENTORY END 6,207,698.00 7,806,207.10
GROSS PROFIT 2,653,131.90 2,821,716.56

LESS OPERATING EXPENSES

SALARIES & WAGES 563,618.00 591,798.90
SSS/MED & OTHER CONTRIBUTIONS 22,457.60 23,580.48
REPAIRS & MAINTENANCE 145,915.20 157,588.42
RENTAL EXPENSE - -
LIGHT & WATER - -
TAXES & LICENSES 286,286.56 303,463.75
OFFICE SUPPLIES 69,097.68 71,170.61
TRANSPORTATION & TRAVEL 32,644.70 33,624.04
FUEL & OIL 89,750.99 95,136.05
COMMUNICATION & POSTAGE - -
SECURITY SERVICES - -
REPRESENTATION AND ENTERTAINEMEN 77,605.56 82,261.89
PROFESSIONAL FEE 16,500.00 16,500.00
INSURANCE 32,403.80 34,023.99
CHARITABLE CONTRIBUTIONS 12,000.00 12,600.00
INTEREST EXP ON BANK LOAN - -
COMMUNICATION, LIGHT & WATER 199,780.44 209,769.46
SEC REGISTRATION & OTHER FEES 27,225.00 24,750.00
DEPRECIATION 233,850.00 233,850.00
MISCELLANEOUS 111,192.90 116,752.55
TOTAL 1,920,328.43 2,006,870.14
NET OPERATING INCOME 732,803.47 814,846.42
FINANCE COST 364,500.00 365,958.00
NET INCOME BEFORE INCOME TAX 368,303.47 448,888.42
PROVISION FOR INCOME TAX 110,491.09 134,652.00
NET INCOME FOR THE PERIOD 257,812.38 314,236.42
BEG RETAINED EARNINGS 550,533.53 808,346.06
DIVIDENDS - -
END RETAINED EARNINGS 808,346.06 1,122,582.64

counter checking 257,812.54 314,236.58

- 0.15 - 0.16
SGREL CORPORATION
BALANC SHEET

ASSETS
CURRENT ASSETS
CASH & CASH EQUIVALENTS 4,215,083.00 6,409,452.17
INVENTORY 6,207,698.00 7,806,207.10
ACCOUNTS RECEIVABLES 3,718,189.99 4,833,646.99
TOTAL CURRENT ASSETS 14,140,970.99 19,049,306.26

FIXED ASSETS
LOT & BUILDING 9,000,000.00 9,000,000.00
FURNITURE AND FIXTURE 5,000.00 5,000.00
AIR CONDITIONER 10,000.00 10,000.00
OFFICE EQUIPMENT 20,000.00 20,000.00
OTHER DEPRECIABLE ASSETS 400,000.00 400,000.00
TOTAL 9,435,000.00 9,435,000.00
LESS ACCUMULATED DEPRECIATION 625,850.00 859,700.00
TOTAL FIXED ASSETS 8,809,150.00 8,575,300.00

TOTAL ASSETS 22,950,120.99 27,624,606.26

LIABILITIES & STOCKHOLDERS EQUITY

LIABILITIES
INCOME TAX PAYABLE 57,000.00 59,750.00
TRADE PAYABLE 7,584,776.10 10,442,273.62
OTHER CURRENT PAYABLES - -
TOTAL CURRENT PAYABLES 7,641,776.10 10,502,023.62

NON CURRENT LIABILITIES

LOANS PAYABLE 13,500,000.00 15,000,000.00

TOTAL LIABILITIES 21,141,776.10 25,502,023.62

EQUITY
SHARE CAPITAL 1,000,000.00 1,000,000.00
RETAINED EARNINGS 808,346.06 1,122,582.64
TOTAL OWNER'S EQUITY 1,808,346.06 2,122,582.64
LESS DRAWINGS/DIVIDEND - -
NET OWNERS EQUITY 1,808,346.06 2,122,582.64

TOTAL LIABILITIES & OWNERS EQUITY 22,950,122.16 27,624,606.26

- 1.17 -

counter checking 22,950,122.16 27,624,606.26

- -
ROSSTEALTH CHIC CORPORATION
INCOME STATEMENT

2017 2018

SALES 9,131,169.41 11,590,400.42

LESS COST OF SALES 7,976,519.78 10,258,407.08
BEG INV 1,679,608.00 1,969,340.38
PURCHASES 8,266,252.16 10,478,652.89
TOTAL 9,945,860.16 12,447,993.27
INVENTORY END 1,969,340.38 2,189,586.19
GROSS PROFIT 1,154,649.63 1,331,993.34

LESS OPERATING EXPENSES

SALARIES & WAGES 310,970.34 342,067.37
SSS/MED & OTHER CONTRIBUTIONS 3,850.00 4,235.00
REPAIRS & MAINTENANCE 126,695.00 136,830.60
SEC REGISTRATION & OTHER FEES 3,850.00 4,042.50
COMMUNICATION, LIGHT & WATER 157,456.20 167,690.85
TAXES & LICENSES 130,824.72 141,290.70
REPRESENTATION AND ENTERTAINMENT 54,311.04 57,026.59
CHARITABLE CONTRIBUTIONS 8,000.00 8,400.00
OFFICE SUPPLIES 45,285.00 47,549.25
SECURITY SERVICES - -
TRANSPORTATION & TRAVEL 62,656.00 66,415.36
FUEL & OIL 56,831.25 65,355.94
DEPRECIATION 33,000.00 33,000.00
MISCELLANEOUS 38,250.00 40,162.50
TOTAL 1,031,979.55 1,114,066.66
NET OPERATING INCOME 122,670.08 217,926.67
FINANCE COST - 39,600.00
NET INCOME BEFORE INCOME TAX 122,670.08 178,326.67
PROVISION FOR INCOME TAX 36,801.02 53,498.00
NET INCOME FOR THE PERIOD 85,869.06 124,828.67
BEG RETAINED EARNINGS 44,134.11 130,003.17
DIVIDENDS - -
END RETAINED EARNINGS 130,003.17 254,831.84

counter checking 85,869.06 124,828.67

- -
BALANC SHEET

ASSETS
CURRENT ASSETS
CASH & CASH EQUIVALENTS 601,218.00 1,114,550.91
INVENTORY 1,969,340.38 2,189,586.19
ACCOUNTS RECEIVABLES 2,848,738.55 3,703,360.12
 TOTAL CURRENT ASSETS 5,419,296.93 7,007,497.21

FIXED ASSETS
LOT & BUILDING 2,000,000.00 3,350,000.00
OFFICE/STORE EQUIPMENT 845,000.00 845,000.00
DISPLAY WINDOWS - -
FURNITURE & FIXTURES 150,000.00 150,000.00
OTHER DEPRECIABLE ASSETS 700,000.00 700,000.00
TOTAL 3,695,000.00 5,045,000.00
LESS:ACCUMULATED DEPRECIATION 63,000.00 177,500.00
TOTA FIXED ASSETS 3,632,000.00 4,867,500.00
TOTAL ASSETS 9,051,296.93 11,874,997.21

LIABILITIES & STOCKHOLDERS EQUITY

LIABILITIES
INCOME TAX PAYABLE 3,850.00 7,450.00
OTHER CURRENT PAYABLES 1,485,288.88 1,224,180.22
TRADE PAYABLE 4,307,154.56 6,263,535.15
TOTAL CURRENT PAYABLES 5,796,293.44 7,495,165.37

NON CURRENT LIABILITIES

LOANS PAYABLE 3,000,000.00 4,000,000.00

TOTAL LIABILITIES 8,796,293.44 11,495,165.37

EQUITY
SHARE CAPITAL 125,000.00 125,000.00
RETAINED EARNINGS 130,003.17 254,831.84
TOTAL OWNER'S EQUITY 255,003.17 379,831.84
LESS DRAWINGS/DIVIDEND - -
NET OWNERS EQUITY 255,003.17 379,831.84

TOTAL LIABILITIES & OWNERS EQUITY 9,051,296.61 11,874,997.21

0.32 -

counter checking 9,051,296.61 11,874,997.21

- -
TINGTING ENTERPRISE
INCOME STATEMENT

2017 2018

SALES 16,237,868.74 16,537,950.26

LESS COST OF SALES 13,961,801.18 13,956,809.13
BEG INV 2,490,740.00 3,088,517.60
PURCHASES 14,559,578.78 14,729,179.13
TOTAL 17,050,318.78 17,817,696.73
INVENTORY END 3,088,517.60 3,860,887.60
GROSS PROFIT 2,276,067.56 2,581,141.13
14.02% 15.61%
LESS OPERATING EXPENSES
SALARIES & WAGES 455,488.95 491,928.07
SSS/MED & OTHER CONTRIBUTIONS 25,733.40 28,049.41
COMMUNICATION, LIGHT & WATER 166,950.30 175,297.82
DEPRECIATION 41,692.34 131,107.18
TAXES & LICENSES 180,985.85 197,274.58
OFFICE SUPPLIES 87,361.05 89,981.88
REPAIRS & MAINTENANCE 195,142.20 210,753.58
FUEL & OIL 109,569.72 118,335.30
TRANSPORTATION & TRAVEL 92,948.04 95,736.48
FACILITATION EXPENSES - -
MISCELLANEOUS 201,844.00 217,991.52
TOTAL 1,557,715.85 1,756,455.80
NET OPERATING INCOME 718,351.71 824,685.33
FINANCE COST 368,050.00 384,000.00
NET INCOME BEFORE INCOME TAX 350,301.71 440,685.33
PROVISION FOR INCOME TAX 65,091.00 75,329.00
NET INCOME FOR THE PERIOD 285,210.71 365,356.33

counter checking 285,210.71 365,356.33

- -

TINGTING ENTERPRISE
BALANC SHEET

ASSETS
CURRENT ASSETS
CASH & CASH EQUIVALENTS 5,423,888.00 5,739,142.36
INVENTORY 3,088,517.60 3,860,887.60
ACCOUNTS RECEIVABLES 4,668,024.61 5,007,915.93
TOTAL CURRENT ASSETS 13,180,430.21 14,607,945.88

NON-CURRENT ASSETS
 PROPERTY AND EQUIPMENT 10,653,308.00 17,915,999.45

TOTAL ASSETS 23,833,738.21 32,523,945.34

LIABILITIES & STOCKHOLDERS EQUITY

LIABILITIES
TRADE PAYABLE 4,896,122.00 6,128,960.07
OTHER CURRENT PAYABLES 345,785.00 425,679.00
INCOME TAX PAYABLE 23,530.00 35,650.00
TOTAL CURRENT PAYABLES 5,265,437.00 6,590,289.07

NON CURRENT LIABILITIES

LOANS PAYABLE 17,000,000.00 24,000,000.00

TOTAL LIABILITIES 22,265,437.00 30,590,289.07

EQUITY
BEG 1,283,089.22 1,568,299.93
ADD NET INCOME 285,210.71 365,356.33
TOTAL 1,568,299.93 1,933,656.26
LESS DRAWINGS - -
END 1,568,299.93 1,933,656.26

TOTAL LIABILITIES & OWNERS EQUITY 23,833,736.93 32,523,945.34

1.27 -

DETAILS:
1 PROPERTY PLANT & EQUIPMENT 10,653,308.00 21,459,083.00
LAND 1,500,000.00 6,595,654.50
BUILDING 7,200,000.00 11,700,000.00
RESIDENTIAL BUILDING - -
BUNK HOUSE - -
SERVICE VEHICLE 2,050,000.00 3,391,227.68
OTHER DEPRECIABLE ASSETS 80,000.00 80,000.00
TOTAL 9,330,000.00 15,171,227.68
LESS ACCUMULATED DEPRECIATION 176,692.00 307,799.18
BOOK VALUE 9,153,308.00 14,863,428.50

counter checking 23,833,736.93 32,523,945.34

- -
INCREMENTAL DEPRECIATION 41,692.00
NEW VEHICLE - 10 YEARS 134,122.77
1 MONTH 11,176.90