Cash Disbursement

Page No. Date Check no. Payee

28 22-Jun 00037999 Wescare Professional Services

29 1-Oct 00043441 Chichi, Gigi and Co.
30 31-May 00089877 JP Law Firm
31 24-Jan 00001031 ECG Consultancy
32 8-Oct 00005531 RSA Management Consultancy, Inc.
33 22-Dec 00001890 Lolaby Becks Janitorial Sevices
34 3-Jun 00001029 MSG R'us Corporation
35 3-Jul 00001030 Sweep away Janitorial Services
36 14-Apr 00037364 ARF General Services Inc.
37 9-Nov 00037274 RX All You Need, Inc.
38 27-Jun 0000023222KUK Kristani Advertising, Inc
39 30-Oct 000004569 MBKK Broadsheet Corporation
40 25-Jun 000000111 LKG Advertising
41 13-Apr 00780321 Summermedia Corporation
42 30-Jul 00088142 Lalala Repairs and Maintenance
43 30-Jul 0008567 Kukas Unlimited Repairs Inc.
44 18-Oct 0023991 Jamich Bookstore
45 28-Feb 0033391 Coco Supplies and Paraphernalia
46 2-Feb 00003434 Lifesaver Inc.
47 29-Mar 00003434 Lifesaver Inc.
48 15-Mar 0054420 BROOM BROOM CAR SERVICES
49 21-Nov 0054498 HOLMES LODGING
50 6-Jul 0073732 SVPAM Tours
51 22-Mar 00023222 Mumbai Fuels and Oil Inc.
52 29-Mar 00009973 VILLARIAS FUEL STATION
53 17-Sep 00009909 SEASHELL CORPORATION
54 22-Jul 00029292 Bigay Liwanag
55 31-Aug 00001434 Namasa Waters
56 21-Oct 00001373 KKK Telecoms
57 11-Jun 00021239 At Your Service Inc.
58 26-Apr 0011288 Send And Receive Corporation
59 26-Dec 00114511 Telias Printers And Scanners
60 1-Mar 0015986 Training Solutions Inc.
61 11-May 0023986 Just what you need Corporation
62 18-May 0015986 KKB Security Services Inc.
63 18-May 0015987 KKB Security Services Inc.
 64 8-May 001589 Sia Security Services Inc
65 11-Jun 0032286 SSC Country Club
66 25-Feb 0054919 Fun World Manila
67 24-Aug 0054920 BBM Sports And Country Club
68 11-Oct 00780321 Department of Science and Technology
69 14-Feb 00780324 Philippine Sports Commission
70 16-Mar 00123321 National Council for Culture and Arts
71 28-Dec 00089143 Armor Leasing Corporation

Totals
Cash Disbursement
Explanation OR No. Amount

Payment of Tax services (professional fees) 00123 ₱ 9,103,819

Payment of Audit fee (professional fees) 001456 ₱ 13,655,730
Payment of Lawyer's fee (professional fees) 00011 ₱ 4,551,910
Payment of Engineering consultancy services 020765 ₱ 28,279,982
Payment of Management Consultancy Services 021144 ₱ 42,419,972
Payment of Janitorial Services 000290 ₱ 6,434,799
Payment of Messengerial Services 009991 ₱ 4,713,552
Payment of Janitorial Services 000765 ₱ 9,427,104
Payment of Carpeting Services 03789 ₱ 4,802,781
Payment of Installation of Office Divider 47435 ₱ 3,201,854
Payment of Advertising Fee 00567EDK ₱ 6,143,440
Payment of Newspaper Advertisement 000333 ₱ 1,433,123
Payment of Advertising Placement fee 004444 ₱ 5,732,490
Payment of of Magaine and subcription 00409 ₱ 2,866,245
Payment of Repairs and Maintenance 00919 ₱ 42,583,394
Payment of Repairs & Maintenance (labor & supplies) 00676 ₱ 6,823,726
Payment of Office Supplies 03309 ₱ 14,550,010
Payment of Office Supplies 03319 ₱ 7,275,005
Payment of Insurance 10767 ₱ 8,606,983
Payment of Insurance 10801 ₱ 8,606,982
payment of Car Services48 484388 ₱ 277,393
Payment of Hotel Accommodation 73821 ₱ 462,322
Payment of Travel Agency fee 008826 ₱ 184,928
Payment of Gasoline 007899 ₱ 5,220,900
Payment of Gasoline 009843 ₱ 10,914
Payment of Fuel 00898 ₱ 1,413,943
Payment for Electricity 004343 ₱ 13,253,036
Payment for Water 000137 ₱ 11,044,197
Phone Bill 000143 ₱ 8,835,357
Courier Services 0329 ₱ 921,960
Courier Services 2327 ₱ 1,843,920
Printing And Scanning Services 2390 ₱ 1,365,244
Outsource Training Services 02238 ₱ 1,075,982
Outsource Training Services 05547 ₱ 717,321
Security Services 06545 ₱ 5,000,000
Security Services 09789 ₱ 3,632,357
Security Services 06545 ₱ 6,500,000
Payment of Membership fee(Country club) 64332 ₱ 300,000
Payment of meal expenses and entertainment 747092 ₱ 9,133,003
Payment of club membership 008732 ₱ 6,088,668
Charitable Contribution 02075 ₱ 25,500
Donation 00043 ₱ 48,750
Charitable Donation 00065 ₱ 75,750
Office Space rent 00765 ₱ 1,500,000

₱ 310,144,346
 Cash Receipts Journal

Date Ck. No. Received From Expalantion OR No.

3-Feb 220 ACME Inc. Galvanizing Services 1

30-May 66220 SAMPLE COMPANY Thermal Breaking Services 2
25-Jul 45677 EXTENSIVE ENTERPRISEMetal Powder Coating 3
1-Aug 34576 STOP PLAIN HOLDING Metal Galvanizing 4
27-Nov 45734 STEELS, INC. Short Blasing Services 5

Totals
urnal
Sales
Cash Sales
Discount
₱ 294,780,725 ₱ 15,514,775 ₱ 310,295,500
₱ 202,105,701 ₱ 22,456,189 ₱ 224,561,890
₱ 516,813,025 ₱ 38,899,905 ₱ 555,712,930
₱ 271,596,312 ₱ 35,675,048 ₱ 307,271,360
₱ 135,798,155 ₱ 17,837,524 ₱ 153,633,679

₱ 1,421,093,918 ₱ 130,383,441 ₱ 1,551,475,359

 Mabuhay Coatings Ltd.
Income Statements
For the year ended 200x
Sales
Sales Discount
Net Sales

Purchase of raw materials and supplies

Factory rental
Direct Charges- Salaries, Wages and Benefits
Direct Charges- Depreciation
Direct Charges- Outside Services
Direct Charges- Others
Total Cost of Sales

Deductions
Salaries and Allowances
Rent
Professional Fees
Management and Consultancy Fee
Janitorial and Messengerial Services
Other Outside Services
Advertising
Repairs and Maintenance- Labor
Repairs and Maintenance- Materials/ Supplies
Office Supplies
Insurance
Transportation and Travel
Fuel and Oil
Communication, Light and Water
Miscellaneous
Other Operating Expenses
Security Services
Representation and Entertainment
Interest Expense on bank loans
Taxes and Licenses
Losses
Provision for Doubtful Accounts
Depreciation
Charitable Contribuions
Pension Trusts
Accrual of contributions to retirement fund
Amortization of goodwill
Depreciation of appraisal increase- fixed assets
Loss on write- off of obselete inventories
Total Operating Expenses

Other Income/(Expense)
Realized foreign exchange gain
Dividends from PLDT (EXEMPT)
Foreign Exchange Gain resulting from offsetting of accounts
Gain on sale of real properties subjected to capital gains tax (CGT)(1,000,000X6%)
Gain on sale of shares of stock subjected to CGT
Gain on sale of shares of stock subjected to other percentage tax (OPT)
Reversal of prior year provision for bad debts due to over recording in prior year (not claimed as
deduction in previous year)
(not claimed as deduction in previous year)
Interest Income
Share in equity earnings of Mabuhay Services, Inc
Royalties already subjected to 20% FWT
Insurance proceeds on casualty losses
Unrealized foreign exchange loss(
Total Other Income/(Expense)

Net income before income tax

d.

0x ADJUSTMENTS FINAL TAX

DR. CR. DR.
₱ 1,551,477,359.00
₱ 130,383,441.00
₱ 1,421,093,918.00

₱ 498,592,779.00
₱ 856,500.00
₱ 105,456,564.00
₱ 68,229,582.00
₱ 51,026,868.00
₱ 20,353,168.00
₱ 744,515,461.00

₱ 102,042,177.00
₱ 1,692,300.00
₱ 27,311,459.00
₱ 70,699,954.00
₱ 20,575,455.00
₱ 8,004,635.00
₱ 16,175,298.00
₱ 15,346,823.00
₱ 34,060,297.00
₱ 21,825,015.00
₱ 17,213,965.00
₱ 924,643.00
₱ 8,755,757.00
₱ 33,132,590.00
₱ 9,358,837.00
₱ 65,328,986.00
₱ 15,132,357.00
₱ 15,721,671.00
₱ 52,500,000.00
₱ 38,220,500.00
₱ 6,988,083.00
₱ 5,661,784.00
₱ 68,986,256.00
₱ 200,500.00
₱ 300,900.00
₱ 1,000,000.00
₱ 16,278,328.00
₱ 300,000.00
₱ 8,001,407.00
₱ 681,739,977.00

₱ 26,337,740.00
₱ 17,213,965.00
₱ 8,445,934.00
₱ 1,000,000.00
₱ 250,000.00
₱ 100,000.00

₱ 250,000.00
₱ 10,534,116.00
₱ 6,188,779.00
₱ 5,661,784.00
₱ 2,358,226.00
₱ 2,162,961.00
₱ 76,177,583.00

₱ 71,016,063.00
FINAL TAX TOTAL
CR. DR. CR.
 Mabuhay Coatings Ltd
BALANCE SHEET

ADJUSTMENTS
DR. CR.
Current Assets ₱ 291,066,505.00
Long- Term Investment ₱ 680,000.00
Property, Plant and Equipment ₱ 2,598,482,218.00
Long- Term Receivables ₱ 140,210,190.00
Intangible Assets ₱ 6,943,023.00
Other Assets ₱ 134,215,506.00

Total Assets ₱ 3,171,597,442.00

Current Liabilities ₱ 594,887,343.00

Long- Term Liabilities ₱ 700,755,368.00
Deferred Credits ₱ 865,809,725.00
Other Liabilities ₱ 908,835,394.00
Total Liabilities ₱ 3,070,287,830.00

Capital stock ₱ 92,128,700.00

Additional Paid-In Capital ₱ 8,373,229.00
Retained Earnings ₱ 807,683.00
Total Equity ₱ 101,309,612.00

Total Liabilities and Equity ₱ 3,171,597,442.00

 FINAL TAX TOTAL
DR. CR. DR. CR.
Sales ₱ 1,551,477,359
Sales Discount ₱ 130,383,441
Net Sales ₱ 1,421,093,918

Purchase of raw materials and supplies ₱ 498,592,779

Factory rental ₱ 856,500
Direct Charges- Depreciation ₱ 68,229,582
Direct Charges- Outside Services ₱ 51,026,868
Direct Charges- Others ₱ 20,353,168
Total Cost of Sales ₱ 639,058,897

Gross Income from Operation ₱ 782,035,021

Other Income not Subject to Final Tax

Realized foreign Exchange Gain ₱ 26,337,740
Interest Income not Subject to Final tax ₱ 2,034,116
Total Other Income not Subject to Final Tax ₱ 28,371,856

Total Gross Income-Final ₱ 810,406,877

Multiply: OSD Rate ₱ 0
OSD Amount ₱ 324,162,751

Gross Income-Final ₱ 810,406,877

Less: OSD Amount ₱ 324,162,751
Taxable Income ₱ 486,244,126
Multiply: Corporate Tax Rate ₱ 0

Income Tax payable and due ₱ 145,873,238

 Cost of Services

Payee Reference (OR No.) Amount Total Amount

Demo, Inc 000579 ₱ 166,197,593

Mooby Corporation 011590 ₱ 199,437,112
Mooby Corporation 033456 ₱ 132,958,074
Bluth Leasing Company 000789 ₱ 428,250
Bluth Leasing Company 001109 ₱ 428,250 ₱ 499,449,279

Direct Charges-Salaries,Wages and Benefits ₱ 105,456,564

Direct Charges-Depreciation ₱ 68,229,582
Direct Charges-Outside Services ₱ 51,026,868
Direct Charges-Others ₱ 20,353,168

Deductible ₱ 639,058,897
Non Deductible ₱ 105,456,564
TOTAL ₱ 744,515,461
 Remarks

Deductible
Deductible
Deductible
Deductible
Deductible

Non Deductible
Deductible
Deductible
Deductible
NOLCO

Year Applied
Amount Total amount
Incurred Subsequent Yrs

20XT ₱ 5,000,000 - ₱ -
20XU ₱ 3,000,000 - ₱ 3,000,000
20XV ₱ 4,000,000 - ₱ 4,000,000
20XW ₱ 2,000,000 ₱ 2,000,000

Total ₱ 9,000,000

MCIT

Normal Income Tax as Excess MCIT over Normal

YEAR MCIT
adjusted Income tax adjusted

20XU ₱ 17,000,000 ₱ 24,000,000 ₱ 7,000,000

20XV ₱ 15,000,000 ₱ 20,000,000 ₱ 5,000,000
20XW ₱ 13,000,000 ₱ 23,000,000 ₱ 10,000,000

Sales
Sales Discount
Net Sales

Purchase of raw materials and supplies

Factory rental
Direct Charges- Depreciation
Direct Charges- Outside Services
Direct Charges- Others
Total Cost of Sales

Gross Income from Operation

Other Income not Subject to Final Tax

Realized foreign Exchange Gain
Interest Income not Subject to Final tax
Total Other Income not Subject to Final Tax

Total Gross Income-Final

Multiply: MCIT Rate
MCIT
₱ 1,551,477,359
₱ 130,383,441
₱ 1,421,093,918

₱ 498,592,779
₱ 856,500
₱ 68,229,582
₱ 51,026,868
₱ 20,353,168
₱ 639,058,897

₱ 782,035,021

₱ 26,337,740
₱ 2,034,116
₱ 28,371,856

₱ 810,406,877
2%
₱ 16,208,138
DEDUCTIONS

GENERAL EXPENSES

TYPES OF EXPENSE
Salaries and Allowances
Rent Expense
Professional Fees

Management and Consultancy Fee

Janitorial and Messengerial Services

Other Outside Services

Advertising Expense

Repairs and Maintenance-Labor

Repairs and Maintenance-Materials/Supplies

Office Supplies

Insurance

Transportation and Travel

Fuel and Oil

Communication, Light and Water

Miscellaneous Expense
Bank Charges
Postage and Stamps
Courier Services

Outside Printing and Scanning Services

 Outsource Trainings

Operating Expenses
Security Services

Representation and Entertainment

Interest Expense on Bank Loans

Taxes and Licenses
Losses

Provision for Doubtful Accounts

Depreciation
Charitable Contributions

Pension Trust
Accrual of Contributions to Retirement Funds
Amortization of Goodwill
Depreciation of Appraisal - Fixed Asset
Loss on Write off of obsulete inventories
Accounts Receivable written off

Deductible

Non-Deductible

TOTAL
 PAYEE REFERENCE NO. (OR) AMOUNT
- - ₱ 102,042,177
Armor Leasing Corporation 00765 ₱ 1,500,000
Wescare Professional Services 00123 ₱ 9,103,819
Chichi, Gigi & Company CPA's 001456 ₱ 13,655,730
JP Law Firm 00011 ₱ 4,551,910
ECG Consultancy 020765 ₱ 28,279,982
RSA Management Consultancy Inc. 021144 ₱ 42,419,972
Lolaby Becks Janitorial Services 000290 ₱ 6,434,799
Msg R'Us Corporation 009991 ₱ 4,713,552
Sweep Away Janitorial Services 000765 ₱ 9,427,104
ARF General Services Inc. 03789 ₱ 4,802,781
RX All You Need, Inc. 47435 ₱ 3,201,854
Kristani Advertising Inc. 0056EDK ₱ 6,143,440
MBKK Broadsheet Corporation 000333 ₱ 1,433,123
LKG Advertising 004444 ₱ 5,732,490
Summermedia Corporation 00409 ₱ 2,866,245
Lalala Repairs and Maintenance 00919 ₱ 14,123,367
Kukas Unlimited Repairs Inc. 00676 ₱ 1,223,456
Lalala Repairs and Maintenance 00919 ₱ 28,460,027
Kukas Unlimited Repairs Inc. 00676 ₱ 5,600,270
Jamich Bookstore 03309 ₱ 14,550,010
Coco Supplies and Paraphernalia 03319 ₱ 7,275,005
Lifesaver Inc. 10767 ₱ 8,606,983
Lifesaver Inc. 10801 ₱ 8,606,982
Broom Broom Car Services 484388 ₱ 277,393
Holmes Lodging Inc. 73821 ₱ 462,322
SVPM Tours 008826 ₱ 184,928
Mumbai Fuels and Oil Inc. 007899 ₱ 5,220,900
Villarias Fuel Station 009843 ₱ 2,120,914
SeaShell Corporation 00898 ₱ 1,413,943
Bigay Liwanag 004343 ₱ 13,253,036
Namasa Waters 000137 ₱ 11,044,197
KKK Telecoms 000143 ₱ 8,835,357

- - ₱ 3,258,760
- - ₱ 175,650
At Your Service Inc. 0329 ₱ 921,960
Send and Receive Corporation 2327 ₱ 1,843,920
Telias Printers & Scanners 2390 ₱ 1,365,244
Training Solutions Inc. 02238 ₱ 1,075,982
Just What you Need Corporation 05547 ₱ 717,321
- - ₱ 65,328,986
KKB Security Services Inc 06545 ₱ 5,000,000
KKB Security Services Inc 06789 ₱ 3,632,357
Sia Security Services Inc 06545 ₱ 6,500,000
SSC Country Club 64332 ₱ 300,000
Fun World Manila 747092 ₱ 9,133,003
BBM Sports and Country Club 008732 ₱ 6,088,668
- ₱ 52,500,000
₱ 38,220,500
Casualty Lossses - ₱ 5,387,822
Inventory Losses - ₱ 1,600,261

- - ₱ 68,986,256
Department of Science and technology 02075 ₱ 25,500
Philippine Sports and Commision 00043 ₱ 48,750
National Council For Culture 00065 ₱ 75,750
Bantay Kalikasan ₱ 50,500

₱ 519,125,611

₱ 62,951,271

₱ 582,076,882
 SUBJECTED TO
TOTAL AMOUNT Deductible/Non-Deductible
LIMIT
₱ 102,042,177 Deductible
₱ 1,500,000 Deductible
Deductible
₱ 9,103,819 Deductible
Deductible
Deductible
₱ 70,699,954
Deductible
Non-Deductible
₱ 6,434,799 Deductible
Deductible
Deductible
₱ 8,004,635
Deductible
Non-Deductible
Deductible
₱ 6,143,440
Deductible
Deductible
Deductible
₱ 14,123,367
Non-Deductible
Deductible
₱ 28,460,027
Non-Deductible
Deductible
₱ 21,825,015
Deductible
Deductible
₱ 17,213,965
Deductible
Deductible
₱ 924,643 Deductible
Deductible
Non-Deductible
₱ 3,534,857 Deductible
Deductible
Deductible
₱ 33,132,590 Deductible
Deductible

₱ 3,258,760 Deductible
₱ 175,650 Deductible
Deductible
₱ 2,765,880
Deductible
₱ 1,365,244 Deductible
 Deductible
₱ 1,793,303
Deductible
₱ 65,328,986 Deductible
Deductible
₱ 8,632,357 Deductible
Non-Deductible
Non-Deductible
₱ 15,221,671 ₱ 14,210,939 Deductible
Deductible
₱ 52,500,000 ₱ 50,328,676 Deductible
₱ 15,000,000 Deductible
Deductible
₱ 6,988,083
Deductible
₱ 5,661,784 Non-Deductible
₱ 68,986,256 Deductible
Deductible
Deductible
₱ 200,500
Deductible
Deductible
₱ 300,900 ₱ 165,900 Deductible
₱ 1,000,000 Non-Deductible
₱ 16,278,328 Non-Deductible
₱ 300,000 Non-Deductible
₱ 8,001,407 Non-Deductible
₱ 374,985 Non-Deductible
 OTHER INCOME/ EXPENSES

Realized foreign exchange gain

Dividends from PLDT
Foreign Exchange Gain resulting from offsetting of accounts
Gain on sale of real properties subjected to capital gains tax (CGT)
Gain on sale of shares of stock subjected to CGT
Gain on sale of shares of stock subjected to other percentage tax (OPT)
Reversal of prior year provision for bad debts due to over recording in prior year
(not claimed as deduction in previous year)
Interest Income
Share in equity earnings of Mabuhay Services, Inc
Royalties already subjected to 20% FWT
Insurance proceeds on casualty losses
Unrealized foreign exchange loss
Total Other Income/(Expense)

Interest Income from deposit abroad

Interest Income on loans to affiliates
Interest Income-Normal Tax
Realized foreign exchange gain
Total Income not subject to final tax
 Amount REMARKS
₱ 26,337,740 Normal Tax
₱ 17,213,965 Tax Exempt
₱ 8,445,934 Final Tax
₱ 1,000,000 Final Tax
₱ 250,000 Final Tax
₱ 100,000 Final Tax

₱ 250,000
₱ 10,534,116 Final Tax
₱ 6,188,779 Final Tax
₱ 5,661,784 Final Tax
₱ 2,358,226 Final Tax
₱ 2,162,961 Final Tax

₱ 76,177,583

₱ 1,450,000
₱ 584,116
₱ 2,034,116
₱ 26,337,740
₱ 28,371,856
Itemized Allowable Deduction

Advertising and Promotions ₱ 10,031,858.00

Charitable Contributions ₱ 200,500.00
Communication, Light and Water ₱ 33,132,590.00
Depreciation ₱ 68,986,256.00
Fuel and Oil ₱ 3,534,857.00
Insurance ₱ 17,213,965.00
Interest ₱ 50,328,676.47
Janitorial and Messengerial Services ₱ 14,140,656.00
Losses ₱ 3,029,596.00
Management and Consultancy Fee ₱ 70,699,954.00
Miscellaneous ₱ 9,358,837.00
Pension Trust ₱ 165,900.00
Office Supplies ₱ 21,825,015.00
Other Operating Expenses ₱ 65,328,986.00
Other Services ₱ 8,004,635.00
Professional Fees ₱ 27,311,459.00
Rental ₱ 1,500,000.00
Repairs and Maintenance - Labor ₱ 14,123,367.00
Repairs and Maintenance - Materials/Supplies ₱ 28,460,027.00
Representation and Entertainment ₱ 14,210,939.18
Salaries and Allowances ₱ 102,042,177.00
Security Services ₱ 8,632,357.00
Taxes and Licenses ₱ 15,000,000.00
Transportation and Travel ₱ 924,643.00

Total ₱ 588,187,250.65
Sales Transaction ( VAT Exclusive )

Customer Reference (OR No.) Amount

Acme, Inc. 001 ₱ 294,780,725.00
Sample Company 002 ₱ 202,105,701.00
Extensive Enterprise 003 ₱ 516,813,025.00
STO Plain Holdings 004 ₱ 271,596,312.00
Steels, Inc. 005 ₱ 135,798,155.00

Total ₱ 1,421,093,918.00
 Remarks
Deductible
Deductible
Deductible
Deductible
Deductible
Income Taxable Payable and Due

Net Sales

Less: Cost of Sales

Gross Income from Operation

Other Income not subject to final tax

Total Gross Income Final

Less: Itemize Deduction ₱ 588,187,251.00

NOLCO ₱ 9,000,000.00
₱ 597,187,251.00
Net Taxable Income

Multiply: Corporate Tax Rate

Income Taxable Payable and Due Before Tax Credit and Payments

Less: Tax Credit Payment ₱ 6,988,263.00

Excess MCIT ₱ 22,000,000.00
Creditable Withholding Tax ₱ 2,564,106.00

Income Taxable Payable and Due

₱ 1,421,093,918.00

₱ 639,058,897.00
₱ 782,035,021.00

₱ 28,371,856.00

₱ 810,406,877.00

₱ 597,187,251.00

₱ 213,219,626.00

₱ 0.30
₱ 63,965,887.80

₱ 31,552,369.00

₱ 32,413,518.80
Creditable Withholding Tax

Payments CWTs Amount

1st Quarter ₱ 2,750,000.00 ₱ 1,239,773.00 ₱ 1,157,273.00

2nd Quarter ₱ 1,988,263.00 ₱ 2,101,000.00 ₱ 623,273.00

3rd Quarter ₱ 2,250,000.00 ₱ 900,000.00 ₱ 619,800.00

4th Quarter / ₱ 727,533.00 ₱ 163,760.00

Total ₱ 6,988,263.00 ₱ 4,968,306.00 ₱ 2,564,106.00

 Bank Reconciliation

Net Income
ADD:
Direct Charges - Salaries & Wages ₱ 105,456,564.00
Rent ₱ 192,300.00
Janitorial and Messengerial Services ₱ 6,434,799.00
Advertising ₱ 6,143,440.00
Repairs and Maintenance- Labor ₱ 1,223,456.00
Repairs and Maintenance- Materials/ Supplies ₱ 5,600,270.00
Fuel and Oil ₱ 5,220,900.00
Security Services ₱ 6,500,000.00
Representation and Entertainment ₱ 1,510,732.00
Interest Expense on bank loans ₱ 2,171,324.00
Taxes and Licenses ₱ 23,220,500.00
Losses ₱ 3,958,487.00
Pension Trust ₱ 135,000.00
Provision for Doubtful Accounts ₱ 5,661,784.00
Accrual of contributions to retirement fund ₱ 1,000,000.00
Amortization of goodwill ₱ 16,278,328.00
Depreciaton of Appraisal-Fixed Asset ₱ 300,000.00
Loss on write- off of obselete inventories ₱ 8,001,407.00
Unrealized Foreign Exchange Loss ₱ 2,162,961.00

LESS:
Dividends from PLDT (EXEMPT) ₱ 17,213,965.00
Foreign Exchange Gain resulting from offsetting of accounts ₱ 8,445,934.00
Gain on sale of real properties subjected to capital gains tax (CGT)(1,000,000X6%) ₱ 1,000,000.00
Gain on sale of shares of stock subjected to CGT ₱ 250,000.00
Gain on sale of shares of stock subjected to other percentage tax (OPT) ₱ 100,000.00
Reversal of prior year provision for bad debts due to over recording in prior year (not claimed as deduction in
previous year) ₱ 250,000.00
Interest Income ₱ 8,500,000.00
Share in equity earnings of Mabuhay Services, Inc ₱ 6,188,779.00
Royalties already subjected to 20% FWT ₱ 5,661,784.00
Insurance proceeds on casualty losses ₱ 2,358,226.00
NOLCO

Net Taxable Income

₱ 71,016,063.00

₱ 201,172,252.00

₱ 49,968,688.00
₱ 9,000,000.00

₱ 213,219,627.00