AC ZAPATOS

BUDGET SUMMARY

Schedule
CAPITAL EXPENDITURES
Leasehold Improvements 1 ₱ 1,200,000.00
Office Equipment 2 60,000.00
Factory Furniture and Fixtures 3 37,000.00
Office Furniture and Fixtures 4 46,500.00
Machineries and Factory Equipment 5 667,840.00
Delivery Vehicle 758,000.00

PRE-OPERATING EXPENSES
Registration and Licenses 6 ₱ 12,395.00
Advertising and Promotion 7 4,000.00
Feasibility Expense 10,000.00

WORKING CAPITAL (3 months)

Cash ₱ 31,560.00
Accounts Receivable 8 109,280.00
Raw Materials 9 4,658,020.00
Direct Labor 10 528,000.00
Indirect Labor 11 150,000.00
Factory Supplies 12 11,080.00
Office Supplies 13 20,975.00
Office Salaries 14 465,000.00
Utilities 15 130,350.00
Rent (P100,000 x 3mos.) 300,000.00

TOTAL PROJECT COST

SOURCE OF FINANCING
CRUZ 40%
AGUILAR 30%
COJUANGCO 30%
TOTAL CONTRIBUTION
 2,769,340.00

26,395.00

6,404,265.00

₱ 9,200,000.00

3,066,667
3,066,667
3,066,667
₱ 9,200,000.00
 SCHEDULES
Schedule 1-Leasehold Improvements
Partition Walls
Toilet Fixtures
Construction Hardware
Finishing
MEF (Mechanical, Electrical, Planning and Fire Protection System)
Labor
TOTAL

Schedule 2-Office Equipment

Computer
Aircon
Printer/scanner
Photocopy machine
Fire Extinguisher
Surveillance Camera
TOTAL

Schedule 3- Factory Furniture and Fixtures

Wooden Tables
Monoblock chairs
Fluorescent bulb
Ceiling fan
Shoe rack
Locker
TOTAL

Schedule 4-Office Furniture and Fixtures

Office Tables
Office Chairs
Filing Cabinet
TOTAL

Schedule 5-Machineries and Factory Equipment

Shoe Sewing Machine
Shoe Skiving Machine
Shoe Grinder Machine
Finishing Machine
Factory Tools
Generator
Water Dispenser
Aircon
Fire Extinguisher
Surveillance Camera
TOTAL

Schedule 6-Registration and Licenses

Registration with SEC:
Verification of Partnership
Filing of Articles of Partnership
Form
Notarial Fee
Documentary Stamp Filing

Registration with Mayor's Office:

Barangay Clearance
Mayor's Permit
CTC
Annual Inspection Fee
Fire Inspection

Registration with BIR:

Annual Registration Fee
Book of Accounts
Receipt Printing
Certificate of Registration and TIN
Documentary Stamp on Lease

Miscellaneous Fees (Transportation, Food, etc)

TOTAL

Schedule 7-Promotion and Advertisement

Posters
Flyers or Leaflets
Tarpaulin
TOTAL

Schedule 8-Accounts Receivable

Gross Sales
MULTIPLY BY: PERCENTAGE OF CREDIT SALES
Credit Sales
Less: Sales returns and allowances (5%)
 Net Credit Sales
Accounts Receivable, beg
Less: Collections:
80 % will be collected in the year of sale
20% in the following year
TOTAL ACCOUNTS RECEIVABLE
DIVIDED BY: 12 MONTHS
ACCOUNTS RECEIVABLE (1MONTH)

Schedule 9- Raw Materials

Leather
Synthetic Leather
Canvass
Adhesive (ABC)
Adhesive (Superdikit)
Adhesive (Greco)
Sole
Zipper
Shoe Lace
Box
Eyelet
Thread
TOTAL

Schedule 10- Direct Labor

Production Staff:
Shoe Workers (13 x P12,000 x 3 mos.)
Shoe Helpers (2 x P10,000 x 3 mos.)
TOTAL

Schedule 11-Indirect Labor

Production Supervisor
Production Maintenance Staff
Security Guard
TOTAL

Schedule 12-Factory Supplies

Greco Primer
Gasoline
Shoe paint
Pencil
Silver Pen
Masking Tape
Plastic Tissue
TOTAL

Schedule 13-Office Supplies

Time Card
Calculator
Ball Pens
Pencils
Official Receipts
Folder
Bond paper
Paper clips
Scissors
Tape
Staples
Glue
Mail envelope
Pushpins
Puncher
Thumbtacks
Paper Fastener
Broom
Mop
Dust Pan
Trash Cans
TOTAL

Schedule 14-Office Salaries

General Manager (30,000 x 1 x 3mos.)
Marketing Manager(25,000 x 1 x 3mos.)
Human Resource Manager(25,000 x 1 x 3mos.)
Accounting Manager(25,000 x 1 x 3mos.)
Accounting Staff(15,000 x 2 x 3mos.)
Driver
Office Maintenance Staff(10,000 x 1 x 3mos.)
TOTAL

Schedule 15-Utilities
Electricity (35,000 x 3mos.)
Water (5,450 x 3mos.)
Communication & Internet (3,000 x mos.)
TOTAL
SCHEDULES
₱ 60,000.00
60,000.00
420,000.00
240,000.00
300,000.00
120,000.00
₱ 1,200,000.00

USEFUL LIFE DEPRECIATION EXPENSE

₱ 32,000.00 5 6400
9,000 5 1800
5,000 5 1000
9,000 5 1800
2,500 5 500
2,500 5 500
₱ 60,000.00 12000

₱ 14,000.00 5 2800
2,000 5 400
1,000 5 200
4,800 5 960
6,000 5 1200
9,200 5 1840
₱ 37,000.00 7400

17,500 5 3500
14,000 5 2800
15,000 5 3000
₱ 46,500.00 9300

₱ 300,000.00 10 30000
55,000 10 5500
115,000 10 11500
95,000 10 9500 56500
1 23,340 5 4668
 12,000 5 2400
4,500 5 900
48,000 5 9600
7,500 5 1500
7,500 5 1500 20568
₱ 667,840.00 77068

₱ 40.00
1,000
400
500
40 ₱ 1,980.00

₱ 500.00
2,000
500
700
500 4200

₱ 500.00
400
3,500
115
1,200 5715

500
₱ 12,395.00

₱ 1,500.00
2,000
500
₱ 4,000.00

₱ 26,227,200.00
30%
7,868,160.00
1,311,360.00
 6,556,800.00
-

5,245,440.00

1,311,360.00
12
₱ 109,280.00

₱ 1,825,200.00
352,872.00
211,723.00
39,000.00
46,800.00
78,000.00
608,400.00
1,277,640.00
60,840.00
60,840.00
29,205.00
67,500.00
₱ 4,658,020.00

468000
60000
528000

60,000
30,000
60,000
150,000

7,600.00
130.00
300.00
 120.00
400.00
400.00
2,130.00
11080

150.00
700.00
720.00
360.00
11,250.00
1,140.00
2,220.00
210.00
100.00
450.00
210.00
150.00
285.00
180.00
150.00
120.00
180.00
200.00
600.00
100.00
1,500.00
₱ 20,975.00

90000
75000
75000
75000
90000
30,000
30000
465000

105000 420000
16350 65400
9000 36000
130350 521400
 FINANCIAL STATEMENTS
AC ZAPATOS
PROJECTED STATEMENT OF COMPREHENSIV
FOR THE YEARS ENDED DECEMBER
Note 2017
NET SALES 1 ₱ 24,915,840.00
LESS: COST OF GOODS SOLD 2 17,069,230.01
GROSS PROFIT 7,846,609.99
LESS: SELLING AND ADMINISTRATIVE EXPENSES 3 4,158,192.54
INCOME BEFORE TAX 3,688,417.45
INCOME TAX EXPENSE 1,106,525.24
INCOME AFTER TAX ₱ 2,581,892.22

AC ZAPATOS
PROJECTED STATEMENT OF CHANGES IN PART
FOR THE YEARS ENDED DECEMBER
2017
CRUZ, CAPITAL
PARTNER'S EQUITY, BEGINNING ₱ -
ADD: INVESTMENT 3,066,666.67
SHARE IN NET INCOME 1,032,756.89
TOTAL 4,099,423.55
LESS: PARTNER'S DRAWING (50%) 516,378.44
PARTNER'S EQUITY, ENDING ₱ 3,583,045.11

AGUILAR, CAPITAL
PARTNER'S EQUITY, BEGINNING ₱ -
ADD: INVESTMENT 3,066,666.67
SHARE IN NET INCOME 774,567.66
TOTAL 3,841,234.33
LESS: PARTNER'S DRAWING (50%) 387,283.83
PARTNER'S EQUITY, ENDING ₱ 3,453,950.50

COJUANGCO, CAPITAL
PARTNER'S EQUITY, BEGINNING ₱ -
ADD: INVESTMENT 3,066,666.67
SHARE IN NET INCOME 774,567.66
TOTAL 3,841,234.33
LESS: PARTNER'S DRAWING (50%) 387,283.83
PARTNER'S EQUITY, ENDING ₱ 3,453,950.50

TOTAL PARTNER'S EQUITY ₱ 10,490,946.11

 AC ZAPATOS
PROJECTED STATEMENT OF FINANCIAL P
FOR THE YEARS ENDED DECEMBER
Note 2017
CURRENT ASSETS
Cash ₱ 10,078,310.96
Accounts Receivable, net 4 1,869,474.82
Inventories
Raw Materials Inventory 2 272,763.60
Finished Goods Inventory 2 1,266,759.29
Office Supplies 5 1,692.50
Factory Supplies 6 3,918.10
TOTAL CURRENT ASSETS ₱ 13,492,919.27

NON-CURRENT ASSETS
Property, Plant and Equipment 7 2,271,924.00
TOTAL ASSETS 15,764,843.27

LIABILITIES AND PARTNER'S EQUITY

LIABILITIES
Accounts Payable 8 ₱ 4,773,363.00
SSS Premium Payable 9 38,590.00
VAT Payable 11 125,990.16
Income Tax Payable 9 276,631.31
PhilHealth Premium Payable 9 9,800.00
PAG-IBIG Premium Payable 9 5,600.00
Withholding tax Payable 9 38,922.69
Expanded Withholding Tax Payable (5%) 12 5,000.00
TOTAL LIABILITIES ₱ 5,273,897.16
Partner's Equity
Cruz, Capital ₱ 3,583,045.11
Aguilar,Captial 3,453,950.50
Cojuangco, Capital 3,453,950.50
TOTAL PARTNER'S EQUITY ₱ 10,490,946.11
TOTAL LIABILITIES AND PARTNER'S EQUITY ₱ 15,764,843.27

AC ZAPATOS
PROJECTED STATEMENT OF CASH FL
FOR THE YEARS ENDED DECEMBER
2017
Net income ₱ 2,581,892.22
Add: Depreciation Expense 497,356.00
Total ₱ 3,079,248.22
Cash flow from operating activities:
(Inc) Dec in Accounts Receivable (1,869,474.82)
(Inc) Dec in Raw Materials (272,763.60)
(Inc) Dec in Finished Goods Inventory (1,266,759.29)
(Inc) Dec in Office Supplies (1,692.50)
(Inc) Dec in Factory Supplies (3,918.10)
Inc (Dec) in Accounts Payable 4,773,363.00
Inc (Dec) in SSS Premium Payable 38,590.00
Inc (Dec) in VAT Payable 125,990.16
Inc (Dec) in Income Tax Payable 276,631.31
Inc (Dec) in PhilHealth Premium Payable 9,800.00
Inc (Dec) in PAG-IBIG Premium Payable 5,600.00
Inc (Dec) in Withholding tax Payable 38,922.69
Inc (Dec) in Expanded Withholding Tax Payable (5%) 5,000.00
Net Cash flow from operating activities 4,938,537.07

Cash flow from investing activities

Acquisition of PPE (2,769,280.00)
Net cash flow from investing activities (2,769,280.00)

Cash Flow from Financing Activities

Contribution of Partners
Partner's drawing (1,290,946.11)
Net cash flow from financing activities (1,290,946.11)

Increase in cash ₱ 878,310.96

Add: Cash, beginning balance 9,200,000.00
Cash, Ending Balance ₱ 10,078,310.96
L STATEMENTS
ZAPATOS
T OF COMPREHENSIVE INCOME
S ENDED DECEMBER 31
2018 2019 2020 2021
₱ 27,406,740.00 ₱ 30,147,300.00 ₱ 33,162,600.00 ₱ 36,478,860.00
19,419,010.70 21,357,550.98 23,376,805.57 25,589,812.54
7,987,729.30 8,789,749.02 9,785,794.43 10,889,047.46
4,253,425.80 4,448,780.83 4,600,626.66 4,830,576.65
3,734,303.50 4,340,968.19 5,185,167.77 6,058,470.81
1,120,291.05 1,302,290.46 1,555,550.33 1,817,541.24
₱ 2,614,012.45 ₱ 3,038,677.73 ₱ 3,629,617.44 ₱ 4,240,929.56

ZAPATOS
F CHANGES IN PARTNERS' EQUITY
S ENDED DECEMBER 31
2018 2019 2020 2021

₱ 3,583,045.11 ₱ 4,105,847.60 ₱ 4,713,583.15 ₱ 5,439,506.63

- - - -
1,045,604.98 1,215,471.09 1,451,846.98 1,696,371.83
4,628,650.09 5,321,318.69 6,165,430.12 7,135,878.46
522,802.49 607,735.55 725,923.49 848,185.91
₱ 4,105,847.60 ₱ 4,713,583.15 ₱ 5,439,506.63 ₱ 6,287,692.55

₱ 3,453,950.50 ₱ 3,846,052.37 ₱ 4,301,854.03 ₱ 4,846,296.64

- - - -
784,203.74 911,603.32 1,088,885.23 1,272,278.87
4,238,154.23 4,757,655.69 5,390,739.26 6,118,575.51
392,101.87 455,801.66 544,442.62 636,139.43
₱ 3,846,052.37 ₱ 4,301,854.03 ₱ 4,846,296.64 ₱ 5,482,436.08

₱ 3,453,950.50 ₱ 3,846,052.37 ₱ 4,301,854.03 ₱ 4,846,296.64

- - - -
784,203.74 911,603.32 1,088,885.23 1,272,278.87
4,238,154.23 4,757,655.69 5,390,739.26 6,118,575.51
392,101.87 455,801.66 544,442.62 636,139.43
₱ 3,846,052.37 ₱ 4,301,854.03 ₱ 4,846,296.64 ₱ 5,482,436.08

₱ 11,797,952.33 ₱ 13,317,291.20 ₱ 15,132,099.92 ₱ 17,252,564.70

 ZAPATOS
ENT OF FINANCIAL POSITION
S ENDED DECEMBER 31
2018 2019 2020 2021

₱ 11,346,719.57 ₱ 13,570,128.73 ₱ 16,134,961.74 ₱ 19,026,945.31

1,998,739.53 2,141,541.40 2,299,234.80 2,473,228.30

305,495.23 336,044.76 369,649.23 406,614.15

2,157,667.86 2,373,061.22 2,597,422.84 2,843,312.50
2,031.00 2,251.03 2,477.82 2,725.77
4,701.72 5,211.07 5,736.10 6,310.10
₱ 15,815,354.90 ₱ 18,428,238.20 ₱ 21,409,482.53 ₱ 24,759,136.14

1,774,568.00 1,277,212.00 779,856.00 282,500.00

17,589,922.90 19,705,450.20 22,189,338.53 25,041,636.14

₱ 5,250,699.30 ₱ 5,775,769.23 ₱ 6,353,346.15 ₱ 6,988,680.77

42,449.00 46,693.90 51,363.29 56,499.62
153,994.55 169,392.80 186,338.08 204,971.89
280,072.76 325,572.61 388,887.58 454,385.31
10,780.00 11,858.00 13,043.80 14,348.18
6,160.00 6,776.00 7,453.60 8,198.96
42,814.96 47,096.45 51,806.10 56,986.71
5,000.00 5,000.00 5,000.00 5,000.00
₱ 5,791,970.57 ₱ 6,388,159.00 ₱ 7,057,238.61 ₱ 7,789,071.44

₱ 4,105,847.60 ₱ 4,713,583.15 ₱ 5,439,506.63 ₱ 6,287,692.55

3,846,052.37 4,301,854.03 4,846,296.64 5,482,436.08
3,846,052.37 4,301,854.03 4,846,296.64 5,482,436.08
₱ 11,797,952.33 ₱ 13,317,291.20 ₱ 15,132,099.92 ₱ 17,252,564.70
₱ 17,589,922.90 ₱ 19,705,450.20 ₱ 22,189,338.53 ₱ 25,041,636.14

ZAPATOS
TEMENT OF CASH FLOWS
S ENDED DECEMBER 31
2018 2019 2020 2021
₱ 2,614,012.45 ₱ 3,038,677.73 ₱ 3,629,617.44 ₱ 4,240,929.56
497,356.00 497,356.00 497,356.00 497,356.00
₱ 3,111,368.45 ₱ 3,536,033.73 ₱ 4,126,973.44 ₱ 4,738,285.56

(129,264.71) (142,801.87) (157,693.41) (173,993.50)

(32,731.63) (30,549.52) (33,604.48) (36,964.92)
(890,908.56) (215,393.36) (224,361.62) (245,889.66)
(338.50) (220.02) (226.80) (247.95)
(783.62) (509.35) (525.03) (574.00)
477,336.30 525,069.93 577,576.92 635,334.62
3,859.00 4,244.90 4,669.39 5,136.33
28,004.39 15,398.25 16,945.28 18,633.81
3,441.45 45,499.85 63,314.97 65,497.73
980.00 1,078.00 1,185.80 1,304.38
560.00 616.00 677.60 745.36
3,892.27 4,281.50 4,709.65 5,180.61
- - - -
2,575,414.83 3,742,748.03 4,379,641.72 5,012,448.36

- - - -
- - - -

(1,307,006.23) (1,519,338.87) (1,814,808.72) (2,120,464.78)

(1,307,006.23) (1,519,338.87) (1,814,808.72) (2,120,464.78)

₱ 1,268,408.61 ₱ 2,223,409.16 ₱ 2,564,833.00 ₱ 2,891,983.58

10,078,310.96 11,346,719.57 13,570,128.73 16,134,961.74
₱ 11,346,719.57 ₱ 13,570,128.73 ₱ 16,134,961.74 ₱ 19,026,945.31
NOTES TO FINANCIAL STATEMENTS
NOTE 1-SCHEDULE OF NET SALES

SALES IN UNITS
UNIT PRICE
GROSS SALES
LESS: SALES RETURNS AND ALLOWANCES
NET SALES

Supporting Computation of Unit Price

Direct Material (13,365,416.40/23,478)
Direct Labor (2,489,284.80/23,478)
Factory Overhead:
Indirect Labor (727,499.20/23,478)
Indirect Materials (39,181/23,478 units)
Repairs and Maintenance Cost (64450/23478)
Factory Rent (1,200,000 X 80% / 23,478 units)
Depreciation Expense (192,0000/23478)
Depreciation Expense-Machineries (56,500/23,478)
Depreciation Expense-Factory Furniture and Fixtures (7400/23,478)
Depreciation Expense-Factory Equipment (21,900/23,478)
Utilities (521,400*.80 / 23,478 units)
Cost per unit
Markup on cost
Selling price per unit

NOTE 2-SCHEDULE OF COST OF GOODS SOLD

Raw Materials,beginning
Add: Purchases
Raw Materials available for used
Raw Materials, ending
RAW MATERIALS USED
DIRECT LABOR
Factory Overhead:
VARIABLE COST
Indirect Labor
Indirect Material
Utilities
Repairs and Maintenance Cost
FIXED COST
Factory Rent
Depreciation Expense-Leasehold Improvements
 Depreciation Expense-Machineries
Depreciation Expense-Factory Furniture and Fixtures
Depreciation Expense-Factory Tools
Depreciation Expense-Factory Equipment
TOTAL FACTORY OVERHEAD
TOTAL MANUFACTURING COST
FINISHED GOODS INVENTORY, BEGINNING
TOTAL GOODS AVAILABLE FOR SALE
FINISHED GOODS INVENTORY,ENDING
COST OF GOODS SOLD

NOTE 3-SCHEDULE OF SELLING AND ADMINISTRATIVE EXPENSE

Salaries and Wages

Sales Commision Expense
13th Month Pay
SSS Expense
NHIP Expense
HDMF Expense
Rent Expense
Pre-operating Expense
Utilities Expense
Depreciation Expense
Advertising Expense
Repairs and Maintenance
Office Supplies Expense
Doubtful Accounts Expense
Delivery Expense
Packaging Expense
Selling and Administrative Expense

NOTE 4-Accounts Receivable

Gross Sales
MULTIPLY BY: PERCENTAGE OF CREDIT SALES
Credit Sales
Less: Sales returns and allowances (5%)
Net Credit Sales
Accounts Receivable, beg
Less: Collections:
80 % will be collected in the year of sale
 20% in the following year
TOTAL ACCOUNTS RECEIVABLE
ALLOWANCE FOR DOUBTFUL ACCOUNTS (1%)
ACCOUNTS RECEIVABLE, NET

NOTE 5-FACTORY SUPPLIES

Factory Supplies, beginning

Purchases
Factory Supplies available for used
Factory Supplies Expense
Factory Supplies, ending

NOTE 6-OFFICE SUPPLIES

Office Supplies, beginning

Purchases
Office supplies available for used
Office supplies expense (90%)
Office Supplies, end

NOTE 7- PROPERTY, PLANT AND EQUIPMENT

Factory Machineries and Equipment

Less: Accumulated Depreciation

Factory Tools
Less: Accumulated Depreciation

Office Equipment
Less: Accumulated Depreciation

Furniture and Fixtures

Less: Accumulated Depreciation

Delivery Vehicle
Less: Accumulated Depreciation

Leasehold Improvement
Less: Accumulated Depreciation

TOTAL

NOTE 8-ACCOUNTS PAYABLE

Purchases
Multiply by: Percentage of Puchases on account
ACCOUNTS PAYABLE
ACCOUNTS PAYABLE, BEG
Payments
30% on the year of Purchase
70% in the following year
ACCOUNTS PAYABLE,END

NOTE 9-SSS, PHILHEALTH, PAG-IBIG AND WITHHOLDING TAX PAYABLE

Position
General Manager
Marketing Manager
Human Resource Manager
Accounting Manager
Accounting Staff
Production Staff
Shoe Helper
Production Supervisor
Security Guard-w/ Night Differential
Security Guard
Driver
Maintenance Staff
TOTAL

NOTE 10-INCOME TAX PAYABLE

Income Tax Expense for the year

Divided by:
TOTAL

NOTE 11-VAT PAYABLE

Output Tax
Less: Input VAT
Purchases
Raw Materials
 Factory Supplies
Office Supplies
Property, Plant and Equipment
TOTAL
Input Tax

VAT PAYABLE (FOR 1 YEAR)

VAT PAYABLE (1MONTH)

NOTE 12-EXPANDED WITHHOLDING TAX PAYABLE

Monthly Rent
Multiply by: Rate of EWT
EXPANDED WITHHOLDING TAX PAYABLE
 2017 2018 2019
21,856 24041 26445
₱ 1,200.00 ₱ 1,200.00 ₱ 1,200.00
26,227,200.00 28,849,200.00 31,734,000.00
1,311,360.00 1,442,460.00 1,586,700.00
₱ 24,915,840.00 ₱ 27,406,740.00 ₱ 30,147,300.00

₱ 569.27
106.05

30.99
1.50
2.75
40.75
8.18
2.41
0.32
0.68
17.71
780.59
419.41
1,200.00

2017 2018 2019

₱ - ₱ 272,763.60 ₱ 300,039.96
13,638,180.00 15,001,998.00 16,502,197.80
13,638,180.00 15,274,761.60 16,802,237.76
272,763.60 305,495.23 336,044.76
13,365,416.40 14,969,266.37 16,466,193.00
2,489,784.80 2,738,763.28 3,012,639.61

727,499.20 800,249.12 880,274.03

35,262.90 42,315.48 46,899.66
417,120.00 458,832.00 504,715.20
64,450.00 70,895.00 77,984.50

960,000.00 960,000.00 960,000.00

192,000.00 192,000.00 192,000.00
 56,500.00 56,500.00 56,500.00
7,400.00 7,400.00 7,400.00
4,656.00 4,656.00 4,656.00
15,900.00 15,900.00 15,900.00
2,480,788.10 2,608,747.60 2,746,329.39
18,335,989.30 20,316,777.25 22,225,162.00
- 1,259,901.31 1,505,450.20
18,335,989.30 21,576,678.55 23,730,612.20
1,266,759.29 2,157,667.86 2,373,061.22
₱ 17,069,230.01 ₱ 19,419,010.70 ₱ 21,357,550.98
21,856 24042 26446
23478 25825.8 28408.38
1,622 1,784 1,963
7% 7% 7%

2017 2018 2019

₱ 1,860,000.00 ₱ 1,860,000.00 ₱ 1,860,000.00
524,544.00 576,984.00 634,680.00
155,000.00 155,000.00 155,000.00
103,178.40 103,178.40 103,178.40
23,250.00 23,250.00 23,250.00
9,600.00 9,600.00 9,600.00
240,000.00 240,000.00 240,000.00
26,395.00
104,280.00 114,708.00 126,178.80
220,900.00 220,900.00 220,900.00
4,000.00 4,000.00 4,000.00
6,000.00 6,600.00 7,260.00
15,232.50 18,279.00 20,259.23
31,472.64 3,146.40 34,934.40
130,000.00 143,000.00 157,300.00
704,340.00 774,780.00 852,240.00
₱ 4,158,192.54 ₱ 4,253,425.80 ₱ 4,448,780.83

2017 2018 2019

₱ 26,227,200.00 ₱ 28,849,200.00 ₱ 31,734,000.00
30% 30% 30%
7,868,160.00 8,654,760.00 9,520,200.00
393,408.00 432,738.00 476,010.00
7,474,752.00 8,222,022.00 9,044,190.00
- 1,869,474.82 1,998,739.53

5,979,801.60 6,577,617.60 7,235,352.00

 1,494,950.40 1,644,404.40
1,888,358.40 2,018,928.82 2,163,173.13
18,883.58 20,189.29 21,631.73
₱ 1,869,474.82 ₱ 1,998,739.53 ₱ 2,141,541.40

2017 2018 2019

₱ - ₱ 3,918.10 ₱ 4,701.72
39,181.00 43,099.10 47,409.01
39,181.00 47,017.20 52,110.73
35,262.90 42,315.48 46,899.66
₱ 3,918.10 ₱ 4,701.72 ₱ 5,211.07

2017 2018 2019

₱ - ₱ 1,692.50 ₱ 2,031.00
16,925.00 18,617.50 20,479.25
16,925.00 20,310.00 22,510.25
15,232.50 18,279.00 20,259.23
₱ 1,692.50 ₱ 2,031.00 ₱ 2,251.03

2017 2018 2019

₱ 644,500.00 ₱ 644,500.00 ₱ 644,500.00
72,400.00 144,800.00 217,200.00
572,100.00 499,700.00 427,300.00

23,280.00 23,280.00 23,280.00

4,656.00 9,312.00 13,968.00
18,624.00 13,968.00 9,312.00

60,000.00 60,000.00 60,000.00

12,000.00 24,000.00 36,000.00
48,000.00 36,000.00 24,000.00

83,500.00 83,500.00 83,500.00

16,700.00 33,400.00 50,100.00
66,800.00 50,100.00 33,400.00

758,000.00 758,000.00 758,000.00

151,600.00 303,200.00 454,800.00
606,400.00 454,800.00 303,200.00

1,200,000.00 1,200,000.00 1,200,000.00

 240,000.00 480,000.00 720,000.00
960,000.00 720,000.00 480,000.00

₱ 2,271,924.00 ₱ 1,774,568.00 ₱ 1,277,212.00

2017 2018 2019

₱ 13,638,180.00 ₱ 15,001,998.00 ₱ 16,502,197.80
50% 50% 50%
6,819,090.00 7,500,999.00 8,251,098.90
- 4,773,363.00 5,250,699.30

2,045,727.00 2,250,299.70 2,475,329.67

- 4,773,363.00 5,250,699.30
₱ 4,773,363.00 ₱ 5,250,699.30 ₱ 5,775,769.23

No of Employees Monthly Salaries SSS

1 ₱ 30,000.00 ₱ 1,790.00
1 25,000.00 1,790.00
1 25,000.00 1,790.00
1 25,000.00 1,790.00
2 30,000.00 3,360.00
13 156,000.00 17,290.00
2 20,000.00 2,220.00
1 20,000.00 1,790.00
1 11,000.00 1,220.00
2 20,000.00 2,220.00
1 10,000.00 1,110.00
2 20,000.00 2,220.00
28 ₱ 392,000.00 ₱ 38,590.00

2017 2018 2019

₱ 1,106,525.24 ₱ 1,120,291.05 ₱ 1,302,290.46
4 4 4
₱ 276,631.31 ₱ 280,072.76 ₱ 325,572.61

2017 2018 2019

3,147,264.00 3,461,904.00 3,808,080.00

₱ 13,638,180.00 ₱ 15,001,998.00 ₱ 16,502,197.80

 39,181.00 43,099.10 47,409.01
16,925.00 18,617.50 20,479.25
1,569,280.00
₱ 15,263,566.00 ₱ 15,063,714.60 ₱ 16,570,086.06
₱ 1,635,382.07 ₱ 1,613,969.42 ₱ 1,775,366.36

1,511,881.93 1,847,934.58 2,032,713.64

125,990.16 153,994.55 169,392.80

2017 2018 2019

₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00
5% 5% 5%
₱ 5,000.00 ₱ 5,000.00 ₱ 5,000.00
 2020 2021
29090 31999
₱ 1,200.00 ₱ 1,200.00
34,908,000.00 38,398,800.00
1,745,400.00 1,919,940.00
₱ 33,162,600.00 ₱ 36,478,860.00

2020 2021
₱ 336,044.76 ₱ 369,649.23
18,152,417.58 19,967,659.34
18,482,461.54 20,330,707.69
369,649.23 406,614.15
18,112,812.31 19,924,093.54
3,313,903.57 3,645,293.93

968,301.44 1,065,131.58
51,624.89 56,790.90
555,186.72 610,705.39
85,782.95 94,361.25

960,000.00 960,000.00
192,000.00 192,000.00 276,456.00
 56,500.00 56,500.00 220,900.00
7,400.00 7,400.00 497,356.00
4,656.00 4,656.00
15,900.00 15,900.00
2,897,351.99 3,063,445.12
24,324,067.86 26,632,832.58
1,650,160.54 1,800,292.47
25,974,228.41 28,433,125.05
2,597,422.84 2,843,312.50
₱ 23,376,805.57 ₱ 25,589,812.54
29090 31999
31249.218 34374.1398
2,159 2,375
7% 7%

2020 2021
₱ 1,860,000.00 ₱ 1,860,000.00
698,160.00 767,976.00
155,000.00 155,000.00
103,178.40 103,178.40
23,250.00 23,250.00
9,600.00 9,600.00
240,000.00 240,000.00

138,796.68 152,676.35
220,900.00 220,900.00
4,000.00 4,000.00
7,986.00 8,784.60
22,300.38 24,531.94
6,955.20 39,123.36
173,030.00 190,333.00
937,470.00 1,031,223.00
₱ 4,600,626.66 ₱ 4,830,576.65

2020 2021
₱ 34,908,000.00 ₱ 38,398,800.00
30% 30%
10,472,400.00 11,519,640.00
523,620.00 575,982.00
9,948,780.00 10,943,658.00
2,141,541.40 2,299,234.80

7,959,024.00 8,754,926.40
 1,808,838.00 1,989,756.00
2,322,459.40 2,498,210.40
23,224.59 24,982.10
₱ 2,299,234.80 ₱ 2,473,228.30

2020 2021
₱ 5,211.07 ₱ 5,736.10
52,149.91 57,364.90
57,360.98 63,101.00
51,624.89 56,790.90
₱ 5,736.10 ₱ 6,310.10

2020 2021
₱ 2,251.03 ₱ 2,477.82
22,527.18 24,779.89
24,778.20 27,257.71
22,300.38 24,531.94
₱ 2,477.82 ₱ 2,725.77

2020 2021
₱ 644,500.00 ₱ 644,500.00
289,600.00 362,000.00
354,900.00 282,500.00

23,280.00 23,280.00
18,624.00 23,280.00
4,656.00 -

60,000.00 60,000.00
48,000.00 60,000.00
12,000.00 -

83,500.00 83,500.00
66,800.00 83,500.00
16,700.00 -

758,000.00 758,000.00
606,400.00 758,000.00
151,600.00 -

1,200,000.00 1,200,000.00
 960,000.00 1,200,000.00
240,000.00 -

₱ 779,856.00 ₱ 282,500.00

2020 2021
₱ 18,152,417.58 ₱ 19,967,659.34
50% 50%
9,076,208.79 9,983,829.67
5,775,769.23 6,353,346.15

2,722,862.64 2,995,148.90
5,775,769.23 6,353,346.15
₱ 6,353,346.15 ₱ 6,988,680.77

PHILHEALTH PAG-IBIG Withholding Tax

₱ 750.00 ₱ 200.00 ₱ 4,110.93
625.00 200.00 3,918.30
625.00 200.00 3,918.30
625.00 200.00 3,918.30
750.00 400.00 3,083.66
3,900.00 2,600.00 12,243.79
500.00 400.00 1,210.76
500.00 200.00 2,769.68
275.00 200.00 722.07
500.00 400.00 1,210.76
250.00 200.00 605.38
500.00 400.00 1,210.76
₱ 9,800.00 ₱ 5,600.00 ₱ 38,922.69

2020 2021
₱ 1,555,550.33 ₱ 1,817,541.24
4 4
₱ 388,887.58 ₱ 454,385.31

2020 2021
4,188,960.00 4,607,856.00

₱ 18,152,417.58 ₱ 19,967,659.34
 52,149.91 57,364.90
22,527.18 24,779.89

₱ 18,227,094.67 ₱ 20,049,804.13
₱ 1,952,903.00 ₱ 2,148,193.30

2,236,057.00 2,459,662.70
186,338.08 204,971.89

2020 2021
₱ 100,000.00 ₱ 100,000.00
5% 5%
₱ 5,000.00 ₱ 5,000.00
REQUIRED RATE OF RETURN (DESIRED RATE OF RETURN=20%)
REQUIRED RATE OF RETURN (DESIRED RATE OF RETURN=20%)
ED RATE OF RETURN=20%)
ED RATE OF RETURN=20%)
SUPPORTING SCHEDULES
Schedule 1- Purchases (will increase by 10% each year)
2017 2018
Leather ₱ 7,066,800.00 ₱ 7,773,480.00
Synthetic Leather 1,366,000.00 1,502,600.00
Canvass 819,600.00 901,560.00
Adhesive (ABC) 147,500.00 162,250.00
Adhesive (Superdikit) 177,000.00 194,700.00
Adhesive (Greco) 295,000.00 324,500.00
Sole 2,355,600.00 2,591,160.00
Zipper 824,460.00 906,906.00
Shoe Lace 235,560.00 259,116.00
Box 235,560.00 259,116.00
Eyelet 113,100.00 124,410.00
Thread 2,000.00 2,200.00
TOTAL ₱ 13,638,180.00 ₱ 15,001,998.00

Schedule 2- Direct Labor (will increase by 10% each year)

2017 2018
Production Staff:
Shoe Workers ₱ 1,872,000.00 ₱ 2,059,200.00
Shoe Helpers 240,000.00 264,000.00
Employee Benefits 377,784.80 415,563.28
TOTAL ₱ 2,489,784.80 ₱ 2,738,763.28

Schedule 3-Indirect Labor

2017 2018
Production Supervisor ₱ 240,000.00 ₱ 264,000.00
Production Maintenance Staff 120,000.00 132,000.00
Security Guard 240,000.00 264,000.00
Employee Benefits 127,499.20 140,249.12
TOTAL ₱ 727,499.20 ₱ 800,249.12

EMPLOYEE BENEFITS-PRODUCTION

Position No of Employees Monthly Salaries

DIRECT LABOR
Production Staff 13 156,000.00
Shoe Helper 2 20,000.00
TOTAL 15 176,000.00
INDIRECT LABOR
Production Supervisor 1 20,000.00
Maintenance Staff-Production 1 10,000.00
Security Guard-w/ Night Differential 1 11,000.00
Security Guard 2 20,000.00
TOTAL 5 61,000.00

Schedule 4-Indirect Material 90%

2017
Greco Primer ₱ 29,500.00
Gasoline 516.00
Shoe paint 8,245.00
Pencil 120.00
Silver Pen 400.00
Masking Tape 300.00
Plastic Tissue 100.00
TOTAL ₱ 39,181.00

Schedule 5-Repairs and Maintance Cost (Factory Machineries and Equipment)

Machineries
Shoe Sewing Machine ₱ 300,000.00
Shoe Skiving Machine 55,000
Shoe Grinder Machine 115,000
Finishing Machine 95,000
Factory Equipment:
Generator 12,000
Water Dispenser 4,500
Aircon 48,000
Fire Extinguisher 7,500
Surveillance Camera 7,500
TOTAL ₱ 644,500.00

Schedule 5-Utilities Expense(Factory and Office)

2017 2018
Overhead (80%) ₱ 417,120.00 ₱ 458,832.00
Administrative (20%) ₱ 104,280.00 ₱ 114,708.00

Schedule 6-Rent Expense (Factory and Office)

2017
Overhead (80%) ₱ 960,000.00
Administrative (20%) ₱ 240,000.00

Schedule 7- Factory Furniture and Fixtures

Wooden Tables ₱ 14,000.00

Monoblock chairs 2,000
Fluorescent bulb 1,000
Ceiling fan 4,800
Shoe rack 6,000
Locker 9,200
TOTAL ₱ 37,000.00

Schedule 8-Machineries and Factory Equipment

Machineries
Shoe Sewing Machine ₱ 300,000.00
Shoe Skiving Machine 55,000
Shoe Grinder Machine 115,000
Finishing Machine 95,000
TOTAL 565,000
Factory Equipment:
Generator 12,000
Water Dispenser 4,500
Aircon 48,000
Fire Extinguisher 7,500
Surveillance Camera 7,500
TOTAL 79,500

Schedule 9-Factory Tools

Scissors 250
Hummer 4,500.00
Shoe Knife 1,200.00
Shoe last 11,550.00
Shoe Tack 140
Plier 1,350.00
Brush 75
Plehe/ Steel 90
Chopping Board 3,000.00
Chief Board 900.00
Puncher 225
TOTAL 23280
Schedule 10-Administrative Salaries And Wages
Position No of Employees Monthly Salaries
General Manager 1 ₱ 30,000.00
Marketing Manager 1 25,000.00
Human Resource Manager 1 25,000.00
Accounting Manager 1 25,000.00
Accounting Staff 2 30,000.00
Driver 1 10,000.00
Maintenance Staff 1 10,000.00
TOTAL 8 ₱ 155,000.00

Schedule 11-Employee Benefit: SSS, Philhealth, Pag-IBIG

Position No of Employees Monthly Salaries

General Manager 1 ₱ 30,000.00
Marketing Manager 1 25,000.00
Human Resource Manager 1 25,000.00
Accounting Manager 1 25,000.00
Accounting Staff 2 30,000.00
Production Staff 13 156,000.00
Shoe Helper 2 20,000.00
Production Supervisor 1 20,000.00
Security Guard-w/ Night Differential 1 11,000.00
Security Guard 2 20,000.00
Driver 1 10,000.00
Maintenance Staff 2 20,000.00
TOTAL 28 ₱ 392,000.00

Schedule 12-SSS, Philhealth, Pag-IBIG Expense

Position No of Employees Annual Salaries
General Manager 1 ₱ 360,000.00
Marketing Manager 1 300,000.00
Human Resource Manager 1 300,000.00
Accounting Manager 1 300,000.00
Accounting Staff 2 360,000.00
Driver 1 120,000.00
Maintenance Staff 1 120,000.00
TOTAL 8 ₱ 1,860,000.00

Schedule 13-Depreciation Expense

Office Equipment Total Cost Useful Life
Computer ₱ 32,000.00 5
Aircon 9,000.00 5
Printer/scanner 5,000.00 5
Photocopy machine 9,000.00 5
Fire Extinguisher 2,500.00 5
Surveillance 2,500.00 5
Office Furniture and Fixtures
Office Tables ₱ 17,500.00 5
Office Chairs 14,000.00 5
Filing Cabinet 15,000.00 5

Leasehold Improvements (20%) 240,000.00 5

Delivery Vehicle ₱ 758,000.00 5

Schedule 16-Doubtful Accounts Expense

2017
Gross Sales ₱ 26,227,200.00
Accounts Receivable (30% of Sales) 7,868,160.00
Accounts Receivable, beginning -
Less: Collections
60% in the year of sale 4,720,896.00
40% in the following year
TOTAL ACCOUNTS RECEIVABLE 3,147,264.00
Allowance for Doubtful Accounts (1% of A/R) 31,472.64
Doubtful Account Expense ₱ 31,472.64

Schedule 17-Office Supplies Expense

Time Card 50.00
Calculator 700.00
Ball Pens 240.00
Pencils 120.00
Official Receipts 11,250.00
Folder 380.00
Bond paper 740.00
Paper clips 70.00
Scissors 100.00
Tape 150.00
Staples 70.00
Glue 50.00
Mail envelope 95.00
Pushpins 60.00
Puncher 150.00
Thumbtacks 40.00
Paper Fastener 60.00
Broom 200.00
Mop 600.00
Dust Pan 100.00
Trash Cans 1,500.00
Broom 200.00
TOTAL 16,925.00

Schedule 18-Delivery Expense

2017
Gasoline Expense ₱ 104,000.00
Miscellaneous Expense 26,000.00
TOTAL ₱ 130,000.00

Schedule 19-Packaging Expense

2017
Box ₱ 234,780.00
Logo Printing 234,780.00
Shoe Bag 234,780.00
TOTAL ₱ 704,340.00

Schedule 20-Office Equipment Repairs and Maintenance

Office Equipment Total Cost 2017
Computer ₱ 32,000.00 ₱ 3,200.00
Aircon 9,000.00 900.00
Printer/scanner 5,000.00 500.00
Photocopy machine 9,000.00 900.00
Fire Extinguisher 2,500.00 250.00
CCTV 2,500.00 250.00
TOTAL ₱ 60,000.00 ₱ 6,000.00

Schedule 12-Withholding Tax Payable

Position No of Employees Monthly Salaries
General Manager 1 ₱ 30,000.00
Marketing Manager 1 25,000.00
Human Resource Manager 1 25,000.00
Accounting Manager 1 25,000.00
Accounting Staff 2 30,000.00
Production Staff 13 156,000.00
Shoe Helper 2 20,000.00
Production Supervisor 1 20,000.00
Security Guard-w/ Night Differential 1 11,000.00
Security Guard 2 20,000.00
Driver 1 10,000.00
Maintenance Staff 2 20,000.00
TOTAL 28 ₱ 392,000.00

22000
 2019 2020 2021
₱ 8,550,828.00 ₱ 9,405,910.80 ₱ 10,346,501.88
1,652,860.00 1,818,146.00 1,999,960.60
991,716.00 1,090,887.60 1,199,976.36
178,475.00 196,322.50 215,954.75
214,170.00 235,587.00 259,145.70
356,950.00 392,645.00 431,909.50
2,850,276.00 3,135,303.60 3,448,833.96
997,596.60 1,097,356.26 1,207,091.89
285,027.60 313,530.36 344,883.40
285,027.60 313,530.36 344,883.40
136,851.00 150,536.10 165,589.71
2,420.00 2,662.00 2,928.20
₱ 16,502,197.80 ₱ 18,152,417.58 ₱ 19,967,659.34

2019 2020 2021

₱ 2,265,120.00 ₱ 2,491,632.00 ₱ 2,740,795.20

290,400.00 319,440.00 351,384.00
457,119.61 502,831.57 553,114.73
₱ 3,012,639.61 ₱ 3,313,903.57 ₱ 3,645,293.93

2019 2020 2021

₱ 290,400.00 ₱ 319,440.00 ₱ 351,384.00
145,200.00 159,720.00 175,692.00
290,400.00 319,440.00 351,384.00
154,274.03 169,701.44 186,671.58
₱ 880,274.03 ₱ 968,301.44 ₱ 1,065,131.58

SSS EC NHIP HDMF

ER ER ER ER

11,492.00 130.00 1,950.00 1,300.00

1,473.40 20.00 250.00 200.00
12,965.40 150.00 2,200.00 1,500.00

1,178.70 30.00 250.00 100.00

736.70 20.00 125.00 100.00
810.30 10.00 137.50 100.00
 1,473.40 20.00 250.00 200.00
4,199.10 80.00 762.50 500.00

ent)

2017 2018 2019 2020

₱ 30,000.00 ₱ 33,000.00 ₱ 36,300.00 ₱ 39,930.00
5,500.00 6,050.00 6,655.00 7,320.50
11,500.00 12,650.00 13,915.00 15,306.50
9,500.00 10,450.00 11,495.00 12,644.50
- - - -
1,200.00 1,320.00 1,452.00 1,597.20
450.00 495.00 544.50 598.95
4,800.00 5,280.00 5,808.00 6,388.80
750.00 825.00 907.50 998.25
750.00 825.00 907.50 998.25
₱ 64,450.00 ₱ 70,895.00 ₱ 77,984.50 ₱ 85,782.95

2019 2020 2021

₱ 504,715.20 ₱ 555,186.72 ₱ 610,705.39
₱ 126,178.80 ₱ 138,796.68 ₱ 152,676.35

2018 2019 2020 2021

₱ 960,000.00 ₱ 960,000.00 ₱ 960,000.00 ₱ 960,000.00
₱ 240,000.00 ₱ 240,000.00 ₱ 240,000.00 ₱ 240,000.00

USEFUL LIFE DEPRECIATION

5 2800
5 400
5 200
5 960
5 1200
5 1840
7400

USEFUL LIFE DEPRECIATION

10 30000
10 5500
10 11500
10 9500
56500

5 2400
5 900
5 9600
5 1500
5 1500
15900

USEFUL LIFE DEPRECIATION

5 50
5 900
5 240
5 2310
5 28
5 270
5 15
5 18
5 600
5 180
5 45
4656
 Yearly
₱ 360,000.00
300,000.00
300,000.00
300,000.00
360,000.00
120,000.00
120,000.00
₱ 1,860,000.00

SSS EC PHILHEALTH
ER EE ER ER
₱ 1,178.70 ₱ 581.30 ₱ 30.00 ₱ 375.00
1,178.70 581.30 30.00 312.50
1,178.70 581.30 30.00 312.50
1,178.70 581.30 30.00 312.50
2,210.00 1,090.00 60.00 375.00
11,492.00 5,668.00 130.00 1,950.00
1,473.40 726.60 20.00 250.00
1,178.70 581.30 30.00 250.00
810.30 399.70 10.00 137.50
1,473.40 726.60 20.00 250.00
736.70 363.30 10.00 125.00
1,473.40 726.60 20.00 250.00
₱ 25,562.70 ₱ 12,607.30 ₱ 420.00 ₱ 4,900.00

SSS PHILHEALTH PAG-IBIG

₱ 14,504.40 ₱ 4,500.00 ₱ 1,200.00
14,504.40 3,750.00 ₱ 1,200.00
14,504.40 3,750.00 ₱ 1,200.00
14,504.40 3,750.00 ₱ 1,200.00
27,240.00 4,500.00 ₱ 2,400.00
8,960.40 1,500.00 ₱ 1,200.00
8,960.40 1,500.00 ₱ 1,200.00
₱ 103,178.40 ₱ 23,250.00 ₱ 9,600.00

Dep't Expense Total Dep't

₱ 6,400.00
1,800.00
 1,000.00
1,800.00
500.00
500.00 ₱ 12,000.00

₱ 3,500.00
2,800.00
3,000.00 9,300.00

48,000.00
151,600.00
₱ 220,900.00

2018 2019 2020 2021

₱ 28,849,200.00 ₱ 31,734,000.00 ₱ 34,908,000.00 ₱ 38,398,800.00
8,654,760.00 9,520,200.00 10,472,400.00 11,519,640.00
3,147,264.00 3,461,904.00 3,808,080.00 4,188,960.00

5,192,856.00 5,712,120.00 6,283,440.00 6,911,784.00

3,147,264.00 3,461,904.00 3,808,080.00 4,188,960.00
3,461,904.00 3,808,080.00 4,188,960.00 4,607,856.00
34,619.04 38,080.80 41,889.60 46,078.56
₱ 3,146.40 ₱ 34,934.40 ₱ 6,955.20 ₱ 39,123.36
 2018 2019 2020 2021
₱ 114,400.00 ₱ 125,840.00 ₱ 138,424.00 ₱ 152,266.40
28,600.00 31,460.00 34,606.00 38,066.60
₱ 143,000.00 ₱ 157,300.00 ₱ 173,030.00 ₱ 190,333.00

2018 2019 2020 2021

₱ 258,260.00 ₱ 284,080.00 ₱ 312,490.00 ₱ 343,740.00
258,260.00 284,080.00 312,490.00 343,741.00
258,260.00 284,080.00 312,490.00 343,742.00
₱ 774,780.00 ₱ 852,240.00 ₱ 937,470.00 ₱ 1,031,223.00

2018 2019 2020 2021

₱ 3,520.00 ₱ 3,872.00 ₱ 4,259.20 ₱ 4,685.12
990.00 1,089.00 1,197.90 1,317.69
550.00 605.00 665.50 732.05
990.00 1,089.00 1,197.90 1,317.69
275.00 302.50 332.75 366.03
275.00 302.50 332.75 366.03
₱ 6,600.00 ₱ 7,260.00 ₱ 7,986.00 ₱ 8,784.60

SSS PhilHealth HDMF Net Taxable Payable

₱ 581.30 ₱ 375.00 ₱ 100.00 ₱ 28,943.70
581.30 312.50 100.00 24,006.20
581.30 312.50 100.00 24,006.20
581.30 312.50 100.00 24,006.20
1,090.00 375.00 200.00 28,335.00
5,668.00 1,950.00 1,300.00 147,082.00
726.60 250.00 200.00 18,823.40
581.30 250.00 100.00 19,068.70
399.70 137.50 100.00 10,362.80
726.60 250.00 200.00 18,823.40
363.30 125.00 100.00 9,411.70
726.60 250.00 200.00 18,823.40
₱ 12,607.30 ₱ 4,900.00 ₱ 2,800.00 ₱ 371,692.70

581.30 275 100.00 20975.57

PER MONTH 13th month pay PER YEAR w/ 13th month pay

14,872.00 156,000.00 334,464.00

1,943.40 20,000.00 43,320.80
16,815.40 176,000.00 377,784.80

1,558.70 20,000.00 38,704.40

981.70 10,000.00 21,780.40
1,057.80 11,000.00 23,693.60
 1,943.40 20,000.00 43,320.80
5,541.60 61,000.00 127,499.20

2021
₱ 43,923.00
8,052.55
16,837.15
13,908.95
-
1,756.92
658.85
7,027.68
1,098.08
1,098.08
₱ 94,361.25
PHILHEALTH PAG-IBIG
EE ER EE
₱ 375.00 ₱ 100.00 ₱ 100.00
312.50 100.00 100.00
312.50 100.00 100.00
312.50 100.00 100.00
375.00 200.00 200.00
1,950.00 1,300.00 1,300.00
250.00 200.00 200.00
250.00 100.00 100.00
137.50 100.00 100.00
250.00 200.00 200.00
125.00 100.00 100.00
250.00 200.00 200.00
₱ 4,900.00 ₱ 2,800.00 ₱ 2,800.00
Withholding Tax Net Pay
₱ 4,110.93 ₱ 24,832.77
3,918.30 20,087.90
3,918.30 20,087.90
3,918.30 20,087.90
3,083.66 25,251.34
12,243.79 134,838.21
1,210.76 17,612.64
2,769.68 16,299.02
722.07 9,640.73
1,210.76 17,612.64
605.38 8,806.32
1,210.76 17,612.64
₱ 38,922.69 ₱ 332,770.01

3046.648 17928.922
 TOTAL
₱ 2,740.00
2,615.00
2,615.00
2,615.00
4,510.00
23,790.00
3,120.00
2,490.00
1,695.00
3,120.00
1,560.00
3,120.00
₱ 53,990.00
PER YEAR
 LIQUIDITY RATIO
CURRENT RATIO
2017
Current Assets ₱ 13,492,919.27
Current Liabilities ₱ 5,273,897.16
Current ratio 2.56

ACID-TEST RATIO
2017
Cash ₱ 10,078,310.96
Accounts Receivable 1,869,474.82
Total ₱ 11,947,785.78
Current Liabilities ₱ 5,273,897.16
Acid-test ratio 2.27

ACCOUNTS RECEIVABLE TURNOVER

2017
Net Credit Sales ₱ 7,474,752.00
Average Net Accounts Receivable ₱ 934,737.41
Accounts Receivable Turnover 8

Days in a Year 365

AR Turnover 8.00
Average Collection Period 46

INVENTORY TURNOVER
2017
Cost of Goods Sold ₱ 17,069,230.01
Average Inventory ₱ 769,761.45
Inventory Turnover 22.17

Days in a Year 365

Inventory Turnover 22.17
Average Collection Period 16

PROFITABILITY RA
PROFIT MARGIN
2017
Net Income ₱ 2,581,892.22
Net Sales ₱ 24,915,840.00
Profit Margin 10%
ASSET TURNOVER
2017
Net Sales ₱ 24,915,840.00
Average Total Assets ₱ 7,882,421.63
Asset Turnover 3.16

RETURN ON ASSETS
2017
Net Income ₱ 2,581,892.22
Average Total Assets ₱ 7,882,421.63
Return on Assets 33%

SOLVENCY RAT
DEBT TO ASSETS RATIO
2017
Total liabilities ₱ 5,273,897.16
Total assets ₱ 15,764,843.27
Debt to assets ratio 33%

PAYBACK PERIO
Year Investment
₱ 9,200,000.00
2017
2018
2019
2020
2021

Cash Payback Period =

NET PRESENT VA
Year Net Annual Cash Flow
Initial Investment -₱ 9,200,000.00
2017 ₱ 3,079,248.22
2018 3,111,368.45
2019 3,536,033.73
2020 4,126,973.44
2021 4,738,285.56
Net cash flows 18,591,909.40

Present value of net cash flows

Less: Capital Investment
Net Present Value
 INTERNAL RATE OF R

Year Net Annual Cash Flow

Initial Investment -₱ 9,200,000.00
2017 ₱ 3,079,248.22
2018 ₱ 3,111,368.45
2019 ₱ 3,536,033.73
2020 ₱ 4,126,973.44
2021 ₱ 4,738,285.56
Net cash flows 18,591,909.40
IRR =

CVP ANALYSIS
2017
Net Sales ₱ 24,915,840.00
Variable Cost 17,375,038.15
Contribution Margin ₱ 7,540,801.85
Fixed Cost 3,852,384.40
Net Income ₱ 3,688,417.45
Breakeven Point (in dollars) ₱ 12,728,804.60
Breakeven Point (in units) 11,166
 LIQUIDITY RATIOS
2018 2019 2020
₱ 15,815,354.90 ₱ 18,428,238.20 ₱ 21,409,482.53
₱ 5,791,970.57 ₱ 6,388,159.00 ₱ 7,057,238.61
2.73 2.88 3.03

2018 2019 2020

₱ 11,346,719.57 ₱ 13,570,128.73 ₱ 16,134,961.74
1,998,739.53 2,141,541.40 2,299,234.80
₱ 13,345,459.10 ₱ 15,711,670.13 ₱ 18,434,196.54
₱ 5,791,970.57 ₱ 6,388,159.00 ₱ 7,057,238.61
2.30 2.46 2.61

2018 2019 2020

₱ 8,222,022.00 ₱ 9,044,190.00 ₱ 9,948,780.00
₱ 1,934,107.17 ₱ 2,070,140.46 ₱ 2,220,388.10
4.25 4.37 4.48

365 365 365

4.25 4.37 4.48
86 84 81

2018 2019 2020

₱ 19,419,010.70 ₱ 21,357,550.98 ₱ 23,376,805.57
₱ 2,001,342.99 ₱ 2,586,134.53 ₱ 2,838,089.02
9.70 8.26 8.24

365 365 365

9.70 8.26 8.24
38 44 44

ROFITABILITY RATIOS
2018 2019 2020
₱ 2,614,012.45 ₱ 3,038,677.73 ₱ 3,629,617.44
₱ 27,406,740.00 ₱ 30,147,300.00 ₱ 33,162,600.00
10% 10% 11%
 2018 2019 2020
₱ 27,406,740.00 ₱ 30,147,300.00 ₱ 33,162,600.00
₱ 16,677,383.09 ₱ 18,647,686.55 ₱ 20,947,394.37
1.64 1.62 1.58

2018 2019 2020

₱ 2,614,012.45 ₱ 3,038,677.73 ₱ 3,629,617.44
₱ 16,677,383.09 ₱ 18,647,686.55 ₱ 20,947,394.37
16% 16% 17%

SOLVENCY RATIO

2018 2019 2020

₱ 5,791,970.57 ₱ 6,388,159.00 ₱ 7,057,238.61
₱ 17,589,922.90 ₱ 19,705,450.20 ₱ 22,189,338.53
33% 32% 32%

PAYBACK PERIOD
Net Annual Cash Flow Cumulative Net Cash Flow

₱ 3,079,248.22 ₱ 3,079,248.22
3,111,368.45 6,190,616.67
3,536,033.73 9,726,650.40
4,126,973.44 13,853,623.84
4,738,285.56 18,591,909.40

sh Payback Period = 2.87

ET PRESENT VALUE
Discount Factor Present Value
20%
0.8333 ₱ 2,565,937.54
0.6944 2,160,534.25
0.5787 2,046,302.72
0.4823 1,990,439.29
0.4019 1,904,316.97
₱ 10,667,530.77

net cash flows ₱ 10,667,530.77

estment ₱ 9,200,000.00
e ₱ 1,467,530.77
RNAL RATE OF RETURN
Discount Factor
26%

0.7905226557 ₱ 2,434,215.48
0.6249260692 ₱ 1,944,375.26
0.4940182159 ₱ 1,746,865.08
0.390532592 ₱ 1,611,717.63
0.3087248618 ₱ 1,462,826.56
₱ 9,200,000.00
26%

CVP ANALYSIS
2018 2019 2020
₱ 27,406,740.00 ₱ 30,147,300.00 ₱ 33,162,600.00
19,820,052.10 21,953,947.41 24,125,047.83
₱ 7,586,687.90 ₱ 8,193,352.59 ₱ 9,037,552.17
3,852,384.40 3,852,384.40 3,852,384.40
₱ 3,734,303.50 ₱ 4,340,968.19 ₱ 5,185,167.77
₱ 13,916,652.30 ₱ 14,174,782.17 ₱ 14,136,027.15
12,208 12,434 12,400
 2021
₱ 24,759,136.14
₱ 7,789,071.44
3.18

2021
₱ 19,026,945.31
2,473,228.30
₱ 21,500,173.61
₱ 7,789,071.44
2.76

2021
₱ 10,943,658.00
₱ 2,386,231.55
4.59

365
4.59
80

2021
₱ 25,589,812.54
₱ 3,108,499.37
8.23

365
8.23
44

2021
₱ 4,240,929.56
₱ 36,478,860.00
12%
 2021
₱ 36,478,860.00
₱ 23,615,487.34
1.54

2021
₱ 4,240,929.56
₱ 23,615,487.34
18%

2021
₱ 7,789,071.44
₱ 25,041,636.14
31%
 2021
₱ 36,478,860.00
26,568,004.79
₱ 9,910,855.21
3,852,384.40
₱ 6,058,470.81
₱ 14,179,461.64
12,438