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IVAKA RESTAURANT

Financial Aspect

In Partial Fulfillment

Of the Requirements for the Course

Financial Analysis and Reporting

By:

Corrales, Jeremy

Fabruada, Princess Mae

Jacosalem, Nigella Jade

Miras, Jamaica

Oreiro, Leizel Joyce

January 2020
1.0 TOTAL PROJECT COST

CAPITAL EXPENDITURES
 Construction of customized build out, including kitchen Php 2,750,000
 Cost of Repair 30,000
 Interior Finishes and Equipment 410,000
 Exterior Finishes 76,500
 Restaurant tables and furniture 680,000
 Table wear, utensils, dishes, kitchen, and bar equipment 1,360,000
 Initial supply of food and beverages 2,204,000
Total Capital Expenditures Php 7,510,500

WORKING CAPITAL- 4 MONTHS


 Purchase of Sales Php 980,000
 Purchase Discounts 80,000
 Purchase of Raw Materials 800,000
 Cost of Food and Beverages 500,000
 Factory Overhead Cost
Utilities of the Production Facility 100,000
Electricity of the Production Facility 93,500
Maintenance to the Production Facility 161,500
Repairs to the Production Facility 150,000
Insurance on Production Facility 59,500
Worker Compensation Insurance on Factory Workers 76,500
Insurance on Raw Materials 85,000
Payroll Taxes on Factory Worker's Wages 150,000
General Factory Supplies 127,500
Total Factory Overhead Budget 1,003,500
 Operating Expenses
Salaries and Wages 2,889,600
Benefits 577,920
Services Commissions 144,480
Chefs and employees uniforms 31,000
Daily Administrative Cost 16,000
Repairs and Maintenance 200,000
 Capital and Contingency Fund 1,040,000
 Security deposit 50,000
 Advance Rental 360,000
 Monthly utilities, including internet and phone service 17,500
Total of Working Capital Php 8,690,000

PRE-OPERATING EXPENSES
 Training cost 163,850
 Personal Financial Specialist 169,000
 Organization Cost 255,000
Total of Pre-operating Expenses Php 587,850

TOTAL Php 16,788,350

2.0 SOURCE OF FINANCING (60/40)

 Equity Php 10,073,010


 Loan 6,715,340
 Total Source of Financing Php 16,788,350

3.0 FINANCIAL ASSUMPTIONS

 Service Revenue (95% Cash Basis and 5% Account Basis)


Service Volume 5, 608,000
Service Fee 1,400,000
Beverage Sales 7,120,000
Food Sales 10,700,000
Other Sales
Offsite Catering 1,680,000
Total Service Revenue 26,508,000
 Receivables
Accounts Receivables at year end (20% of credit services) 1,774,602
Collection of accounts receivable (90% of current year) 1,597,141.8
Collection of accounts receivable (10% of previous year) 139,000
Allowance for Bad debts
(1% of outstanding accounts receivable) 17,746.02
 Service Cost
1.10% increase per annum in cost of
Repairs 353,850
Supplies 2,228,224
Labor 3,683,073
Depreciation Year 1 Year 2 Year 3 Year 4 Year 5
Equipments

Furnitures
& Fixtures
Interior &
Exterior
Finishes

Rental (70% paid in advanced charge to overhead expense and 30% charge
to administrative expense)
Overhead Expense from 1,003,500 to 1,255,500
Administrative Expense from Php 192,000 to 300,000
Book Year 1 Year 2 Year 3 Year 4 Year 5
Value 5% 10% 10% 10% 10%
Repairs and 350,000 367,5000 404,250 444,675 489,142.5 538.056.75
Maintenance
 Operating Expense Php 3,859,000
Depreciation Year 1 Year 2 Year 3 Year 4 Year 5
10% 10% 10% 10% 10%
Equipments

Furnitures
& Fixtures
Interior &
Exterior
Finishes
35% tax on the net income Php 1,347,097.5
Long-term Earning Year 1 Year 2 Year 3 Year 4 Year 5
investment Dividends

Common 10%
Stock
Preferred 10%
Stock
Bonds 10%

Repurchase
of bonds
payable
Cash 10%
surrender
value

 Dividend Payment (the company shall start paying cash dividends in the
amount of * to stockholders on the second year of the operations

4.0 FINANCIAL PROJECTION

A. PRE-OPERATION CASH FLOW STATEMENT

Total Investment/ Total Cash Received


Loan
Shares of Equity

Less: Total Cash Disbursement


Purchase Tools
Furniture and Fixtures
B. CASH FLOW STATEMENT

IVAKA RESTAURANT
Projected Statement of Cash Flows
For the 5 Years Projection

Note Pre-operating Year 1 Year 2 Year 3 Year 4 Year 5


Cash Flows from Operating Activities
Cash received from customers 21 Php 31,568,515.20 Php 34,725,366.72 Php 38,197,903.39 Php 42,017,693.73 Php 46,219,463.10
Cash received from A/R Php 1,329,200.64 Php 1,677,783.51 Php 1,856,779.98 Php 2,052,453.32 Php 2,266,604.51
Cash received from bank as interest 44,541.60 196,259.77 464,393.02 710,609.78 983,988.65
Payment to suppliers 23 Php (204,000.00) (2,400,000.00) (2,640,000.00) (2,904,000.00) (3,194,400.00) (3,513,840.00)
Payment to Direct Labor (229,500.00) (252,450.00) (277,695.00) (305,464.50) (336,010.95)
Payment to Factory Overhead (1,003,500.00) (1,103,850.00) (1,214,235.00) (1,335,658.50) (1,469,224.35)
Payment for Rental (302,000.00) (360,000.00) (360,000.00) (360,000.00) (360,000.00)
Purchase of supplies (9,234.00) (10,157.40) (11,173.14) (12,290.45) (13,519.50)
Payment for Repair and Maintenance Expense (265,325.00) (291,857.50) (321,043.25) (353,147.58) (388,462.33)
Payment for advertising (3,000.00) (3,000.00) (3,000.00) (3,000.00) (3,000.00)
Payment of utilities expense (210,000.00) (231,000.00) (254,100.00) (279,510.00) (307,461.00)
Payment of salaries and wages (157,674.00) (160,580.88) (164,035.50) (167,559.21) (170,913.39)
Payment of 13th Month Pay (14,400.00) (14,688.00) (14,981.76) (15,281.40) (15,587.02)
Payment of business permit and licenses 0.00 (2,940.00) (2,940.00) (2,940.00) (2,940.00)
Remittance of SSS Premium Contribution (18,810.00) (21,840.00) (21,960.00) (21,960.00) (22,620.00)
Remittance of Philhealth contribution (9,075.00) (9,900.00) (9,900.00) (9,900.00) (9,900.00)
Remittance of Pag-ibig contribution (6,336.00) (7,038.72) (7,179.49) (7,323.08) (7,469.55)
Payment for VAT (3,027,041.09) (3,604,930.75) (3,965,423.83) (4,361,966.21) (4,798,162.83)
Payment for Income Tax (8,382,664.66) (9,253,795.10) (10,320,825.20) (11,495,556.83)
Payment of pre-operating expenses (997,850.00)
Net cash flow provided by (used in) operating activities ############## Php 25,286,362.35 Php 19,502,512.09 Php 21,733,614.33 Php 24,029,530.71 Php 26,555,388.51
Cash flows from Investing Activities
Cash Payment for Building Improvements Php (516,500.00)
Building ##############
Purchase of appliances and equipment (1,360,000.00)
Purchase of furniture and fixtures (680,000.00)
Net cash provided by (used in) investing activities (5,306,500.00)
Cash flow from financing activities
Cash proceeds from investment 10,320,150.00 - - - - -
Cash payment for drawing - - (100,000.00) (100,000.00) (100,000.00) (100,000.00)
Net cash provided by (used in) financing activities 10,320,150.00 - (100,000.00) (100,000.00) (100,000.00) (100,000.00)
Net increase (decrease) in cash 3,811,800.00 25,286,362.35 19,402,512.09 21,633,614.33 23,929,530.71 26,455,388.51
Add: Cash, beg. 3,811,800.00 29,098,162.35 48,500,674.44 70,134,288.77 94,063,819.47
Cash ,end Php 3,811,800.00 Php 29,098,162.35 Php 48,500,674.44 Php 70,134,288.77 Php 94,063,819.47 Php 120,519,207.98

Cash on Hand Php 100,000.00 Php 100,000.00 Php 100,000.00 Php 100,000.00 Php 100,000.00 Php 100,000.00
Cash in Bank 3,711,800.00 28,998,162.35 48,400,674.44 70,034,288.77 93,963,819.47 120,419,207.98
Total Php 3,811,800.00 Php 29,098,162.35 Php 48,500,674.44 Php 70,134,288.77 Php 94,063,819.47 Php 120,519,207.98
C. BALANCE SHEET

IVAKA RESTAURANT

Balance Sheet

Current Asset Pre-Operating Year 1 Year2


Year3

Cash

Accounts Receivable 66,480

Less: Allowance for bad debts 554

Inventory of Supplies 204,000

Total Current Assets

Long-Term inventory

Inventory in stock

Fixed Assets

Construction of customized

build-out including kitchen 2,750,000 2,750,000

Less: Accumulated Depreciation

Cost of Repair 30,000 30,000

Less: Accumulated Depreciation

Interior Finishes and Equipment 410,000 410,000

Less: Accumulated Depreciation

Exterior Finishes 76,500 76,500

Less: Accumulated Depreciation

Restaurant tables and furniture 680,000 680,000

Less: Accumulated Depreciation


Table wear, utensils, dishes,

kitchen, and bar equipment 1,360,000 1,360,000

Less: Accumulated Depreciation

Total Fixed Assets

Other Asset

Pre – Operating Expenses 587,850

Total Asset

Liabilities and Shareholder’s equity

Current Liabilities

Current Portion of loan payable

Income tax pay

Total Current Liabilities

Long Term Liabilities

Loan Payable 4,140,060

Total Liabilities

Shareholder’s equity 6,210,090

Capital Stock

Retained Earnings

Total Liabilities and

Stockholder’s equity
D. STATEMENT OF REAINED EARNINGS
Retained Earnings, Beginning
ADD: Net Income For The Year
TOTAL
LESS: Dividend Payment
Retained Earnings, Ending

E. INCOME STATEMENT FROM 2020 TO 2022

2020 2021 2022


Gross Sales
Less: Discount
Net Revenue

Less: Cost of
Service
Beginning Inventory
ADD: Purchases
Less: Ending
Inventory

Cost of Supplies
Used
Direct Labor
Factory Overhead:
Indirect Labor
Depreciations for
Tools & Machine
Rental Expenses
Utilities Expense
Fuel Expense
Payroll taxes
Repairs and
Maintenance
Amortization of
Building
Improvement
Amortizan of Pre-
operating expenses
Total Cost of
Service Provided
Gross Income
Operating
Expenses:
Supplies
Utilities Expense
Bad debts Expense
Salaries & Wages
Advertising
Expenses
Payroll taxes
Taxes & Licenses
Rental Expenses
Depreciation
Furnitures &
Fixtures
Depreciation
Equipment
Depreciation
Interior & Exterior
Finishes
Net Income from
operations
Other Income &
Expenses:
Dividend
Income
Interest
Expense
Net Income before
tax
Income tax
Net Income

5.0 FINANCIAL ANALYSIS