1.

Service Business
Globe Telecom, Inc. A Liabilities & Shareholders'
Equity
Assets
ST Debt & Current Portion LT Debt 10,485
Cash & Short Term Short Term Debt 4,500
Investments 8,701 Current Portion of Long Term Debt 5,985
Cash Only 8,633 Accounts Payable 20,389
Short-Term Investments 68
Income Tax Payable 1,106
Total Accounts Receivable 29,763 Other Current Liabilities 50,422
Accounts Receivables, Net 26,945 Dividends Payable 262
Accounts Receivables, Gross 35,110 Miscellaneous Current Liabilities 50,159
Bad Debt/Doubtful Accounts -8,166 Total Current Liabilities 82,402
Current Ratio 0.64
Other Receivables 2,818 Quick Ratio 0.49
Accounts Receivable Turnover 4.24 Cash Ratio 0.11
Inventories 12,795 Long-Term Debt 95,525
Finished Goods 4,285 Long-Term Debt excl. Capitalized
Raw Materials 285 Leases 95,398
Progress Payments & Other 8,226 Non-Convertible Debt 95,398
Other Current Assets 1,763 Capitalized Lease Obligations 127
Prepaid Expenses 1,511 Provision for Risks & Charges 5,341
Miscellaneous Current Assets 252 Deferred Taxes -706
Total Current Assets 53,023
Deferred Taxes - Credit 1,917
Net Property, Plant & Deferred Taxes - Debit 2,623
Equipment 142,252 Other Liabilities 1,202
Property, Plant & Equipment - Other Liabilities (excl. Deferred
Gross 334,106 Income) 1,202
Buildings 46,414 186,38
Land & Improvements 3,049 Total Liabilities 7
Machinery & Equipment 223,571 74.60
Construction in Progress 20,920 Total Liabilities / Total Assets %
Transportation Equipment 2,767 Preferred Stock (Carrying Value) 1,793
Other Property, Plant & Non-Redeemable Preferred Stock 1,793
Equipment 37,385 Common Equity (Total) 61,647
Accumulated Depreciation 191,854 Common Stock Par/Carry Value 6,638
Buildings 22,562 Additional Paid-In Capital/Capital
Machinery & Equipment 142,192 Surplus 36,075
Transportation Equipment 1,867 Retained Earnings 19,422
Other Property, Plant & Cumulative Translation Adjustment 39
Equipment 25,233
Total Investments and Unrealized Gain/Loss Marketable
Advances 35,731 Securities 116
LT Investment - Affiliate Other Appropriated Reserves -643
Companies 34,181
Other Long-Term Investments 1,549 24.67
Long-Term Note Receivable - Common Equity / Total Assets %
Intangible Assets 14,833 Total Shareholders' Equity 63,440
Net Goodwill 1,651 Total Shareholders' Equity / Total 25.39
Net Other Intangibles 13,183 Assets %
Other Assets 1,402 Accumulated Minority Interest 37
Tangible Other Assets 1,402
Total Assets 249,863 Total Equity 63,476
Liabilities & Shareholders' 249,8
Balance Sheet
Equity 63
For the Year 2016
 Globe Telecom, Inc. A
Income Statement
For the Fiscal Year 2012-2016

Fiscal year is January-December 2016 2015 2014 2013 2012

126,1 119,9 103,23 95,14 86,44

Sales/Revenue 83 69 6 1 6
16.21 10.06
Sales Growth 5.18% % 8.51% % -
45,55 43,95 46,71 40,12
Cost of Goods Sold (COGS) incl. D&A 4 9 37,356 1 1
21,53 22,67 19,23 16,53
COGS excluding D&A 7 3 19,091 3 8
24,01 21,28 27,47 23,58
Depreciation & Amortization Expense 6 6 18,265 7 3
18,90 24,68 21,61
Depreciation - 4 16,527 1 6
Amortization of Intangibles - 2,382 1,738 2,796 1,967
-
17.67 20.03 16.42
COGS Growth 3.63% % % % -

80,63 76,01 48,43 46,32

Gross Income 0 1 65,880 0 5
15.38 36.03 4.54
Gross Income Growth 6.08% % % % -
63.90
Gross Profit Margin % - - - -
53,21 49,50 37,30 33,38
SG&A Expense 7 2 42,630 9 4
53,21 49,50 37,30 33,38
Other SG&A 7 2 42,630 9 4
16.12 14.26 11.76
SGA Growth 7.50% % % % -
Other Operating Expense 1,932 2,342 2,225 2,466 1,823
25,48 24,16
EBIT 1 6 21,024 8,655 -
Unusual Expense -444 -1,165 39 115 334

Non Operating Income/Expense -10 526 263 -192 576

Non-Operating Interest Income 152 519 683 688 580

Interest Expense 3,274 2,754 2,323 2,092 2,105
-
18.89 18.53 11.07 0.61
Interest Expense Growth % % % % -

Gross Interest Expense 3,806 2,901 2,971 2,916 2,913

Interest Capitalized 532 148 648 824 808
22,79 23,62
Pretax Income 3 1 19,607 6,945 9,835
-
- 20.47 182.33 29.39
Pretax Income Growth 3.51% % % % -

Pretax Margin 18.06 - - - -

 %
Income Tax 6,049 6,983 6,011 1,905 2,906
Income Tax - Current Domestic 5,557 6,204 5,880 4,995 4,356
- -
Income Tax - Deferred Domestic 492 779 131 3,091 1,449

Equity in Affiliates -855 -154 -224 -80 -84

15,88 16,48
Consolidated Net Income 8 4 13,372 4,960 6,845
Minority Interest Expense 10 -12 -4 - -

15,87 16,49 13,37 4,96 6,84

Net Income 8 7 6 0 5
2. Manufacturing Company
San Miguel Corp. B ADR
Fiscal year is January-
December 2012 2013 2014 2015 2016

699.36 747.72 773.72 672.24 685.31

Sales/Revenue B B B B B
Cost of Goods Sold (COGS) incl. 602.14 638.91 668.45 539.71
D&A B B B B 522.3B
582.15 617.52 645.37 514.35 491.12
COGS excluding D&A B B B B B
Depreciation & Amortization
Expense 19.99B 21.39B 23.08B 25.36B 31.18B
Depreciation 15.99B 16.81B 17.91B 17.57B 20.96B
Amortization of Intangibles 4B 4.58B 5.17B 7.79B 10.23B
108.82 105.27 132.53 163.01
Gross Income 97.22B B B B B

SG&A Expense 45.78B 53.74B

49.5B 51.98B 63.36B
Research & Development 119M 113M 421M 478M 395M
Other SG&A 45.66B 53.63B
49.07B 51.51B 62.96B
Other Operating Expense - - - - -
(7.27B (2.87B
Unusual Expense 210M 553M ) ) 1.41B
EBIT after Unusual Expense (210M) 54.52B 7.27B 2.87B 98.25B
(9.45B (9.86B
Non Operating Income/Expense 16.02B 25.85B (187M) ) )
Non-Operating Interest Income 4.25B 3.54B 4.01B 4.29B 3.69B
Equity in Affiliates (Pretax) - - - - -
Interest Expense 28.09B 28.51B 29.71B 32.52B 34.8B
Gross Interest Expense 28.98B 32.13B 33.33B 35.55B 35.54B
Interest Capitalized 895M 3.62B 3.62B 3.03B 735M
Pretax Income 43.43B 55.4B 37.16B45.73B 57.27B
Income Tax 8.41B 3.7B 10.28B16.78B 17.05B
Income Tax - Current Domestic 9.25B 11.71B 10.89B 14.83B 19.53B
Income Tax - Current Foreign - - - - -
(8.01B (2.48B
Income Tax - Deferred Domestic (842M) ) (607M) 1.95B )
Income Tax - Deferred Foreign - - - - -
Income Tax Credits - - - - -
Equity in Affiliates 2.64B (967M) 1.7B (120M) 203M
Other After Tax Income (Expense) - - - - -
Consolidated Net Income 37.66B 50.73B 28.58B 28.83B 40.42B
Minority Interest Expense 10.85B 12.68B 13.44B 16.47B 22.89B
26.81 38.05 15.14 12.37 17.53
Net Income B B B B B
Income Statement
For the Fiscal Years 2012 - 2016
 San Miguel Corp. B ADR
Balance Sheet
For the Fiscal Years 2012 - 2016

Assets
2012 2013 2014 2015 2016
125.8 193.8 262.2 185.6 206.52
Cash & Short Term Investments B 8B 6B B B
125.5 191.6 260.2 184.9 206.21
Cash Only 1B 1B 1B 9B B
Short-Term Investments 289M 2.27B 2.05B 608M 312M
122.5 168.1 129.2 100.7 114.53
Total Accounts Receivable 4B 4B 4B 3B B
52.45 66.06 57.87 45.65
Accounts Receivables, Net B B B B 41.33B
58.84 74.51 66.13 55.57
Accounts Receivables, Gross B B B B 54.99B
(6.39B (8.45B (8.25B (9.93B (13.66
Bad Debt/Doubtful Accounts ) ) ) ) B)
70.09 102.0 71.37 55.08
Other Receivables B 9B B B 73.19B
83.87 82.82 89.17 69.19
Inventories B B B B 91.2B
58.37 60.23 60.85
Finished Goods B B B 37.9B 52.15B
Work in Progress - - - - -
20.51 17.82 23.78 24.77
Raw Materials B B B B 29.18B
Progress Payments & Other 4.99B 4.77B 4.53B 6.52B 9.86B
40.68 44.17 49.79
Other Current Assets B B B 67.1B 67.18B
18.53
Miscellaneous Current Assets B 16.1B 7.68B 5.85B 4.49B
372.8 489.0 530.4 422.6 479.43
Total Current Assets 9B 1B 5B 1B B
2012 2013 2014 2015 2016
373.9 427.7 458.7 501.0 508.94
Net Property, Plant & Equipment 2B 4B 3B 8B B
523.9 596.8 641.2 704.8
Property, Plant & Equipment - Gross B 5B 3B 2B 712.5B
39.72 49.74 50.45
Buildings B 47.5B B B 47.04B
22.66 25.47 28.61 31.35
Land & Improvements B B B B 32.59B
Computer Software and Equipment - - - - -
20.17 20.78 148.1 162.4 150.44
Other Property, Plant & Equipment B B 5B 8B B
149.9 169.1 182.5 203.7 203.56
Accumulated Depreciation 8B 1B B 4B B
167.7 84.33 62.96
Total Investments and Advances 6B B 75B B 72.08B
15.19 48.02 46.16 47.72
Other Long-Term Investments B B B B 50.16B
17.07 44.67 11.58
Long-Term Note Receivable B B B 5.77B 3.27B
81.82 76.74 83.47 195.7 180.34
Intangible Assets B B B 4B B
48.72 41.75 41.21
Net Goodwill B B B 58.6B 58.11B
34.99 42.26 137.1 122.23
Net Other Intangibles 33.1B B B 3B B
31.99 43.61 41.43
Other Assets 19.2B B B B 42.5B
13.34 22.48 21.47
Tangible Other Assets 7.9B B B B 18.41B
 Total Assets 1.04T 1.17T 1.22T 1.25T 1.31T

Liabilities & Shareholders' Equity

2012 2013 2014 2015 2016
169.72 201.69 216.13 200.98 237.05
ST Debt & Current Portion LT Debt B B B B B
143.23 180.06 146.86 189.28
Short Term Debt 151.1B B B B B
Current Portion of Long Term Debt 18.62B 58.46B 36.07B 54.12B 47.77B
Accounts Payable 54.89B 71.29B 56.25B 46.69B 58.79B
Income Tax Payable 11.12B 13.06B 13.3B 13.91B 16.97B
Other Current Liabilities 32.98B 49.51B 68.73B 58.14B 66.8B
Dividends Payable 3.25B 3.31B 3.13B 2B 3.99B
Accrued Payroll 103M 100M 4.68B 6.44B 5.74B
Miscellaneous Current Liabilities 29.63B 46.1B 60.92B 49.71B 57.07B
268.71 335.55 354.41 319.72 379.61
Total Current Liabilities B B B B B
400.58 454.13 493.93 451.47
Long-Term Debt B 444.1B B B B
220.88 284.02 331.22 297.63
Long-Term Debt excl. Capitalized Leases B 264.7B B B B
220.88 284.02 331.22 297.63
Non-Convertible Debt B 264.7B B B B
Convertible Debt - - - - -
179.39 170.11 162.71 153.85
Capitalized Lease Obligations 179.7B B B B B
Provision for Risks & Charges 7.74B 8.53B 9.7B 14.19B 10.27B
(1.11B (3.04B
Deferred Taxes 2.67B (4.55B) (6.83B) ) )
Deferred Taxes - Credit 12.98B 11.06B 7.82B 15.33B 17.23B
Deferred Taxes - Debit 10.31B 15.61B 14.65B 16.44B 20.27B
Other Liabilities 3.94B 5B 1.44B 15.52B 9.04B
Other Liabilities (excl. Deferred Income) 3.94B 5B 1.44B 15.52B 9.04B
Deferred Income - - - - -
693.95 804.24 858.69 867.62
Total Liabilities B B 827.5B B B
Non-Equity Reserves 74M 73M 71M 2.46B 2.43B
Preferred Stock (Carrying Value) 10.2B 10.19B 10.19B 10.19B 10.19B
Redeemable Preferred Stock 13M - - - -
Non-Redeemable Preferred Stock 10.19B 10.19B 10.19B 10.19B 10.19B
242.06 227.52 230.71 227.95 269.76
Common Equity (Total) B B B B B
Common Stock Par/Carry Value 16.41B 16.41B 16.42B 16.42B 16.43B
181.69 166.49 172.66 127.86 135.98
Retained Earnings B B B B B
ESOP Debt Guarantee - - - - -
Cumulative Translation Adjustment - - - 947M (180M)
(1.02B (5.76B
Unrealized Gain/Loss Marketable Securities - 784M (184M) ) )
Revaluation Reserves 1.47B 764M 761M - -
(140.12 (139.95 (139.88 (139.5 (109.5
Treasury Stock B) B) B) B) B)
252.26 237.71 238.14 279.94
Total Shareholders' Equity B B 240.9B B B
128.07 149.02 146.74 156.84
Accumulated Minority Interest 96.69B B B B B
348.95 365.78 389.92 384.88 436.78
Total Equity B B B B B
Liabilities & Shareholders' Equity 1.04T 1.17T 1.22T 1.25T 1.31T

3. Merchandising Company
 Target Corp. TGT
Income Statement
For the Fiscal Years January 2015-2017

Revenue 2017 2016 2015

72,618,0
Total Revenue 69,495,000 73,785,000 00
51,278,0
Cost of Revenue 48,872,000 51,997,000 00
21,340,0
Gross Profit 20,623,000 21,788,000 00
14,676,0
Selling General and Administrative 13,356,000 14,665,000 00
2,129,00
Others 2,298,000 2,213,000 0

4,535,00
Operating Income or Loss 4,969,000 4,910,000 0

Total Other Income/Expenses Net - 620,000 620,000

4,535,00
Earnings Before Interest and Taxes 4,969,000 5,530,000 0
Interest Expense 1,004,000 607,000 882,000
3,653,00
Income Before Tax 3,965,000 4,923,000 0
1,204,00
Income Tax Expense 1,296,000 1,602,000 0
Minority Interest - - -
2,449,00
Net Income From Continuing Ops 2,669,000 3,321,000 0
Non-recurring Events
-
4,085,00
Discontinued Operations 68,000 42,000 0

-
1,636,00
Net Income 2,737,000 3,363,000 0

Target Corp. TGT

Balance Sheet
For the Fiscal Years January 2015-2017

Annual Income Statement (values in 000's)

2017 2016 2015
Assets
$2,512,00 $4,046,00 $2,210,00
Cash and Cash Equivalents 0 0 0
$8,309,00 $8,601,00 $8,282,00
Inventory 0 0 0
$1,169,00 $1,483,00 $3,132,00
Other Current Assets 0 0 0
$11,990,0 $14,130,0 $13,624,0
Total Current Assets 00 00 00

Long-Term Assets
Fixed Assets $24,658,0 $25,217,0 $25,952,0
 00 00 00
$1,596,00
Other Assets $783,000 $915,000 0
Deferred Asset Charges $0 $0 $0
$37,431, $40,262, $41,172,
Total Assets 000 000 000

Liabilities and Equity

Current Liabilities
$10,989,0 $11,654,0 $11,542,0
Accounts Payable 00 00 00
$1,718,00
Short-Term Debt / Current Portion of Long-Term Debt 0 $815,000 $91,000
Other Current Liabilities $1,000 $153,000 $103,000
$12,708,0 $12,622,0 $11,736,0
Total Current Liabilities 00 00 00

$11,031,0 $11,945,0 $12,634,0

Long-Term Debt 00 00 00
$1,878,00 $1,915,00 $1,645,00
Other Liabilities 0 0 0
$1,160,00
Deferred Liability Charges $861,000 $823,000 0
$26,478,0 $27,305,0 $27,175,0
Total Liabilities 00 00 00

Stock Holders Equity

Common Stocks $46,000 $50,000 $53,000
$5,661,00 $5,348,00 $4,899,00
Capital Surplus 0 0 0
$5,884,00 $8,188,00 $9,644,00
Retained Earnings 0 0 0

Other Equity ($638,000) ($629,000) ($599,000)

$10,953,0 $12,957,0 $13,997,0

Total Equity 00 00 00

$37,431, $40,262, $41,172,

Total Liabilities & Equity 000 000 000