bsCELINE PAULA G. CALVES5 C GASOLINE STATIONPOB. TRENTO, AGUSAN DEL SURSTATEMENT OF FINANCIAL POSITIONFOR THE YEAR ENDED DECEMBER 31, 2014(With Comparative Figures for the Year 2013)20142013ASSETSCURRENT ASSETSCash on hand & in bank1,585,639.751,454,427.24Accounts Receivable441,054.48212,894.64Merchandise Inventory1,289,690.631,233,833.48Prepayments32,625.5025,208.33Franchise Fee3,000,000.003,000,000.00xTotal Current Assets6,349,010.365,926,363.69FIXED ASSETSCommercial Lot3,069,223.003,069,223.00xBuilding Improvement192,350.0074,000.00xStore Equipment80,500.0043,800.00Furniture and Fixture75,800.0011,800.00Other Depreciable Assets50,000.000.0Total398,650.00129,600.00Less: Accumulated Depreciation(16,454.88)0.0Book Value382,195.12129,600.00Total Fixed Assets3,451,418.123,198,823.00TOTAL ASSETS9,800,428.489,125,186.69LIABILITIES AND OWNER'S NETWORTHCurrent LiabilitiesAccounts Payable-Trade3,791,466.722,665,681.76Short Term Loans Payable1,000,000.001,000,000.00xLong Term Loans Payable1,205,522.291,977,738.93xTotal Liabilities5,996,989.015,643,420.69OWNER'S NETWORTHBalance, Beginning3,481,766.003,610,281.44Add: Net Income371,673.47(128,515.44)Total3,853,439.473,481,766.00Less: Withdrawals(50,000.00)0.0Balance, Ending3,803,439.473,481,766.00Total Owner's Networth3,803,439.473,481,766.00Total Liabilities & Owner's Networth9,800,428.489,125,186.690.00.0

isCELINE PAULA G. CALVES5 C GASOLINE STATIONPOB. TRENTO, AGUSAN DEL SURSTATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED DECEMBER 31, 2014(With Comparative Figures for the Year 2013)20142013(In Philippine Peso)Gross Sales30,155,744.204,727,986.21Less: Cost Of SalesInventory, Beg.1,233,833.480.0Add: Purchases28,240,314.355,914,730.42Total29,474,147.835,914,730.42Less: Inventory, End.1,289,690.631,233,833.48Total Cost of Sales28,184,457.204,680,896.94Gross Profit1,971,287.0047,089.27Less: Operating ExpensesSalaries & Wages735,811.2583,683.50SSS/PHIC/HDMF Contribution20,952.806,180.50Interest and Charges200,530.5240,580.38Fuel & Oil Expense0.05,286.30Insurance23,426.750.0Depreciation16,454.880.0Transportation and Travel4,996.001,500.00Repairs and Maintenace100,915.152,571.50Advertising and Promotions13,900.003,900.00Store Supplies42,139.484,406.08Communication, Light and Water136,576.589,253.47Taxes and Licenses97,918.9315,700.00Miscellaneous205,991.192,542.98Total Expenses1,599,613.53175,604.71Net Income371,673.47(128,515.44)