PATER DE KIMCHI

CUMULATIVE INCOME STATEMENT

FOR FOUR MONTHS ENDED FEBRUARY 2020

NOVEMBER DECEMBER JANUARY FEBRUARY

Sales (Note 3) 9,000.00 17,670.00 27,930.00 42,420.00
Less:
Cost of Goods Sold:
Direct Materials (Note 3,753.60 7,374.26 11,663.30 17,725.64
4)
Direct Labor (Note 5) 1065 2090.95 3,305.05 5,019.70
Factory Overhead 1,287.00 2,526.81 3,993.99 6,066.06
(Note 6)
TOTAL 6,105.60 11,992.02 18,962.34 28,811.40
Gross Profit 2,894.40 5,677.98 8,967.66 13,608.60
Less:
Legal Fees 590.00 590.00 590.00 590.00
Marketing Expense 960 1,310.00 1,610.00 1,950.00
(Note 7)
Administrative 1,502.50
Expense (Note 8) 1,102.50 1,252.50 1,352.50
Salaries Expense (Note 350.00 700.00 1,050.00 1,400.00
9)
Miscellaneous 250 500.00 700.00 900.00
Expense (Note 11)
TOTAL EXPENSES 3,252.50 4,352.50 5,302.50 6,342.50

NET INCOME/LOSS -358.10 1,325.48 3,665.16 7,266.10

PATER DE KIMCHI
STATEMENT OF CASH FLOWS
FOR FOUR MONTHS ENDED FEBRUARY 2020
November December January February
Cash, Beginning
17,500.00 17,141.90 18,825.48 21,165.16
Sales
9,000.00 8,670.00 10,260.00 14,490.00
Total Cash Available
26,500.00 25,811.90 29,085.48 35,655.16
Less:Cash Outflow
Purchase of Materials 3,753.60 3,620.66 4,289.04 6,062.34
Purchase of
Equipment
Direct Labor 1065 1025.95 1,214.10 1,714.65
Factory Overhead 1,287.00 1,239.81 1,467.18 2,072.07
Administrative
Expense 1,102.50 150.00 100.00 150.00
Legal Fees
590.00
Salaries and Wages
350.00 350.00 350.00 350.00
Miscellaneous
Expense 250.00 250.00 200.00 200.00
Marketing Expense
960.00 350.00 300.00 340.00
Total
9,358.10 6,986.42 7,920.32 10,889.06
Net Cash Flow
17,141.90 18,825.48 21,165.16 24,766.10
PATER DE KIMCHI
STATEMENT OF FINANCIAL POSITIONS
FOR FOUR MONTHS ENDED FEBRUARY 2020
NOVEMBER DECEMBER JANUARY FEBRUARY
ASSET
CURRENT ASSET
Cash (Note 2)
17,141.90 18,825.48 21,165.16 24,766.10
TOTAL
17,141.90 18,825.48 21,165.16 24,766.10
OWNER'S EQUITY
Borinaga, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Cabahug, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Caris, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Gonzales, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Jamora, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Penaflor, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Yatan, Capital
2,500.00 2,500.00 2,500.00 2,500.00
Net Income (/Loss) -
358.10 1,325.48 3,665.16 7,266.10
TOTAL
17,141.90 18,825.48 21,165.16 24,766.10