Inkfinity Co.

Income Statement
For the Year Ended December 31, 2018

Service Income ₱ 1,110,597.50

Less: Cost of Service
Beginning Inventory 24,468.10
Purchases 212,162.04
Less: Ending Inventory 26,609.23 210,020.91
Gross Profit 900,576.59
Less: Other Expenses
Salaries Expense 375,024.00
Utilities Expense 61,206.00
Rent Expense 60,000.00
Depreciation Expense 43,120.66
Miscellaneous Expense 14,388.00
Taxes and licenses 2,000.00
Repairs and Maintenance Expense 12,000.00
Employee Benefits Expense 36,526.32 604,264.98
Profit before tax 296,311.61
Less: Percentage Tax 33,317.93
Net Profit ₱ 262,993.68
 Inkfinity Co.
Statement of Financial Position
As of December 31, 2018

Assets
Current Assets
Cash ₱ 439,241.32
Inventory 26,609.23
Prepaid Expenses
Prepaid Rent 5,000.00 470,850.55
Non-Current Assets
Equipment 168,885.00
Less: Accumulated Depreciation (100,677.00)
Furnitures and Fixtures 11,800.00
Less: Accumulated Depreciation (9,800.00) 70,208.00
Total Assets ₱ 541,058.55

Liabilities and Capital

Current Liabilities
Accrued Liabilities
Utilities Payable ₱ 1,700.17
Employee Benefits Payable 4,993.92
Percentage Tax Payable 2,776.49
Withholding Tax Payable 1,659.54 11,130.12
Capital
Bauto, Capital 105,985.686
Cango, Capital 105,985.686
Chan, Capital 105,985.686
Cruz, Capital 105,985.686
Padilla, Capital 105,985.686 529,928.43
Total Liabilities and Capital ₱ 541,058.55
 Inkfinity Co.
Statement of Cash Flows
For Year Ended December 31, 2018

Cash Flows from Operating Activities

Receipts from customers ₱ 1,110,597.50
Payments to suppliers (212,162.04)
Payments for salaries (375,020.46)
Payments for other operating expense (186,102.52)
Cash generated from Operations 337,312.48
Percentage tax paid (33,053.94)
Net Cash from operating activities 304,258.54

Cash Flows from Investing Activities

Payment for Partners' drawing (222,120.00)
Purchase of equipment (39,885.00)
Purchase of furniture and fixtures (4,000.00)
Net Cash used in investing activities (266,005.00)

Net Cash in December 31, 2017 400,987.78

Net Cash in December 31, 2018 ₱ 439,241.32
 Inkfinity Co.
Statement of Changes in Partner's Equity
For the Year Ended December 31, 2018

Bauto, Capital Cango, Capital Chan, Capital Cruz, Capital Padilla, Capital
Capital, beginning ₱ 97,810.95 ₱ 97,810.95 ₱ 97,810.95 ₱ 97,810.95 ₱ 97,810.95
Share in net profit
262,993.68 * 20% 52,598.736 52,598.736 52,598.736 52,598.736 52,598.736
Partners' Drawing (44,424.000) (44,424.000) (44,424.000) (44,424.000) (44,424.000)
Capital, ending ₱ 105,985.69 ₱ 105,985.69 ₱ 105,985.69 ₱ 105,985.69 ₱ 105,985.69