Stanforfd Merchandising

Statement of Financial Performance

For the month of December 31, 2019

Note
Net sales 3
Less: Cost of Goods Sold 4
Gross Profit
Less: Expenses 5
Net Loss

Note 3:
Sales
Sales returns and allowances
Sales discounts
Net Sales

Note 4:
Merchandise Inventory, December 1
Purchases
Purchase returns and allowances
Purchase discounts
Freight in
Cost of good available for sale
Merchandise inventory, December 31
Cost of Goods Sold

Note 5:
Salaries Expense
Rent Expense
Utilities Expense
Transportation Out
Supplies Expense
Uncollectible Accounts Expense
Insurance Expense
Depreciation Expense
Interest Expense
Miscellaneous Expense
Total Expenses
PHP 1,983,240
1,091,250
891,990
942,033
PHP (50,043)

PHP 2,064,000
(30000)
(50760)
PHP 1,983,240

PHP 320,000
1,055,000
(50000)
(36750)
63,000
PHP 1,351,250
(260000)
PHP 1,091,250

PHP 422,000
120,000
58,000
110,000
85,000
14,200
15,000
11,833
96,000
10,000
PHP 942,033
 Stanford Merchandising
Statement of Changes in Equity
For the month of December 31, 2019

Stanford, Capital-December 1 3000000

Net Loss (50043)
Withdrawals (51500)
Stanford, Capital-December 31 2898457
 Stanford Merchandising
Statement of Financial Position
As of December 31,2019

ASSETS

Current Assets
Cash
Accounts Receivable 1310000
Less:Allowance for Doubtful Accounts 26200
Merchandise Inventory 260000
Supplies 65000
Prepaid Insurance 165000
Total Current Assets

Non-current Asset
Building 2605000
Less: Accumulated Depreciation-Building 83125
Office Equipment 80000
Less: Accumulated Depreciation-Office Equipment 1333
Total Non-Current Asset
Total Assets

LIABILITIES AND CAPITAL

Current Liabilities
Accounts payable 574875
Utiltiies Payable 12000
Interest Payable 8000

Non-current Liability
Notes Payable
Total Libilities

Stanford, Capital
TOTAL LIABILITIES AND CAPITAL
 118990

1283800

490000
1892790

2521875

78667
2600542
4493332

594875

1000000
1594875

2898457
4493332
 Stanford, Merchandising
Statement of Cash Flows
December 31,2019

Cash flows from operating activities

Net Loss -50043
Adjustments to reconcile net loss to net cash provided by operating activties
Depreciation expense 11833.00
Decrease in inventory 60000.00
Increase in Accounts Receivale -360000.00
Increase in Utilities Payable 12000
Increase in supplies -100000.00 360000
Increase in Accounts Payable 198000.00
8000.00
Net cash provided by operating activities -190167.00 28124.00

Cash flow from investing activities

Purchase of Equipment (80000)
Net cash flows used in investing activities (80000)

Cash flows from financing activities

Proceeds of bank loan
Additional cash investment by owner 200000
Withdrawal by the owner -151586
Net cash flow provided by financing activities -151586.00

Decrease in cash for the year 41010

Cash balance, January 1,2019 160 000
Cash balance, December 31,2019 118990
 Note 5:
Salaries Expense ###
Rent Expense 120,000
Utilities Expense 58,000
Transportation Out 110,000
Supplies Expense 85,000
Uncollectible Accounts Expense 14,200
Insurance Expense 15,000
Depreciation Expense 11,833
Interest Expense 96,000
Miscellaneous Expense 10,000

99710

-421753.00
 Stanford, Merchandising
Statement of Cash Flows
December 31,2019

Cash flows from operating activities

Cash received from customers 1704000 574875
Cash paid to suppliers of merchandise -833250 376875
Cash paid for salaries -422000 -422000 198000
Casg paid for supplies 15000 -387000
Casg paid for rent -120000
Cash paid for interest -104000
Cash paid for utilities -46000
-110000

Miscellaneous -15000
Insurance -10000
58750.00 190576 -131826.00
Net cash provided by operating activities

Cash flow from investing activities

Purchase of Equipment (80000) 27164.00
Net cash flows used in investing activities (80000)

Cash flows from financing activities

Cash withdrawn by the owner -151586
200000 200000

Net cash flow provided by financing activities 48414.00

Decrease in cash for the year 41010

Cash balance, January 1,2019 160 000
Cash balance, December 31,2019 118990
 2064000
360000
1704000 0 Note 5:
Salaries Expense PHP 422,000
COGS 1091250 Rent Expense 120,000
-60000 Utilities Expense 58,000

Transportation Out 110,000

1031250 Supplies Expense 85,000
-198000 Uncollectible Accounts Expense 14,200
833250 Insurance Expense 15,000
Depreciation Expense 11,833
Interest Expense 96,000
Miscellaneous Expense 10,000
3000000
50043

-231586

190576
231586