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UNIFORM TEXTILE, INC.

Statement of Financial Performance


For the Fiscal year ended June 30, 2017

Sales 4739540
Cost of Sales (2912300)
Gross Profit 1827240
Other Income 195672
Operating Expenses (1250449)
Other Charges (6500)
Finance Cost- Interest (148500)
Income Before Tax 617463
Income Tax(30%) (185239)
Net Income 432224
Dividends Declared (320000)
Accumulated Profits, End 112224
UNIFORM TEXTILE , INC
Statement of Financial Performance
June 30, 2017

ASSETS
CURRENT ASSETS:
Petty Cash fund 18,420
Cash in Banks 168,440
Accounts Receivable-Trade 2,117,840
Allowance for Doubtful Accounts (42,358) 2,075,482
Trading Securities 650,000
Available for sale securities 233,800
Notes Receivalble 450,000
Interest Receivable 18,112
Inventories 4,442,500
Prepayments 49,167
Advances to Affiliates 108,800
TOTAL CURRENTS ASSETS 8,214,721

NON-CURRENT ASSETS:
Delivery Equipment 850,000
Furniture and Equipment 330,000
Leasehold Improvements 168,000
Total 1,348,000
Accumulated Depreciation (196,567)
Net 1,151,433
Other Assets 152,000
TOTAL NON-CURRENT ASSETS 1,303,433
TOTAL ASSETS 9,518,154

LIABILITIES AND SHAREHOLDER'S EQUITY


CURRENT LIABILITIES:
Accounts Payable 654,280
Accrued Expenses 254,411
Notes Payable
Interest Payable 118,000
Income Tax Payable 185,239
Dividends Payable 320,000
Other Liabilities 134,000
Current portion of long-term loans 400,000
Deferred Rent Income 60,000
TOTAL CURRENT LIABILITIES 2,125,930

NON-CURRENT LIABILITIES:
Loans Payable- net of current portion 1,200,000
Bonds Payable 1,000,000
Security Deposit Payable 120,000
Discount on Bonds Payble (40,000)
TOTAL NON-CURRENT LIABILITIES 2,280,000

SHAREHOLDER'S EQUITY:
Paid-up Capital:
Preferred Shares- 20,000 Shs. P 100 par 2,000,000
Ordinary Shares- 30,000 shs. P100 Par 3,000,000
Accumulated Profits 112,224
Total 5,112,224
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 9,518,154
POWERFUL GENERATORS
Statement of Financial Performance
For the year ended December 31, 2014

Sales 6,435,000
Cost of Good Sold (3,720,000)
Gross Profit 2,715,000
Operating Expense (1,755,750)
Income from Operations 959,250
Other Income 670,550
Other Charges (195,875)
Income Before Tax 1,433,925
Provision for Income Tax (430,178)
Net Income 1,003,748

Accumutalted Profits, Beginning 162,800


Correction of Prior Year's Income (160,000)
Dividends Declared (500,000)
Accumutalted Profits, Ending 506,548
POWERFUL GENERATORS
Staement of Financial Position
December 31, 2014

ASSETS
CURRENT ASSETS:
Cash 536,750
Trading Securities 91,500
Allowance to Reduce Securities to Market (7,200) 84,300
Accounts Receivable 560,000
Allowance for Doubful Accounts (16,800) 543,200
Notes Receivalble 160,000
Interest Receivable 4,000
Inventories 926,000
Prepayments 184,100
TOTAL CURRENTS ASSETS 2,438,350

NON-CURRENT ASSETS:
Investment and Funds 690,000
Property, Plant and Equipment 2,750,000
Total 3,440,000
Accumulated Depreciation (1,625,000)
Net 1,815,000
Other Assets 45,000
TOTAL NON-CURRENT ASSETS 1,860,000
TOTAL ASSETS 4,298,350

LIABILITIES AND SHAREHOLDER'S EQUITY


CURRENT LIABILITIES:
Accounts Payable 769,025
Notes Payable 120,000
Discount on Notes Payable (3,200)
Accrued Expenses 150,000
Income Tax Payable 110,852
Interest Payable 45,000
Estimated Liabilities on Warranties 193,050
Unearned Service Revenue 60,000
TOTAL CURRENT LIABILITIES 1,327,927

NON-CURRENT LIABILITIES:
Bonds Payable 500,000
Premium on Bonds Payable 13,875
TOTAL NON-CURRENT LIABILITIES 513,875

SHAREHOLDER'S EQUITY:
Share Capital 1,700,000
Accumulated Profits 506,548
Appropriated for Plant Expansion 250,000
Total 2,456,548
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 4,298,350
DER'S EQUITY