MARASIGAN MEDICAL CLINIC

INCOME STATEMENT
FOR THE PERIOD ENDED DECEMBER 31, 2019

REVENUES
MEDICAL REVENUE ₱434,000.00
RESEARCH REVENUES ₱30,000.00 ₱464,000.00

EXPENSES
SALARIES EXPENSE ₱124,000.00
REPAIR EXPENSE ₱23,000.00
ASSOCIATION DUES EXPENSE ₱15,000.00
TELEPHONE EXPENSE ₱3,000.00
INSURANCE EXPENSE ₱1,666.67
SUPPLIES EXPENSE ₱35,000.00
DEPRECIATION EXPENSE ₱14,000.00
INTEREST EXPENSE ₱28,000.00 ₱243,666.67
NET INCOME ₱220,333.33
 MARASIGAN MEDICAL CLINIC
STATEMENT OF CHANGES IN OWNER'S EQUITY
AS OF DECEMBER 31, 2019

MARASIGAN CAPITAL BEG. ₱250,000.00

NET INCOME ₱220,333.33 ₱470,333.33
MARASIGAN WITHDRAWALS ₱200,000.00
MARASIGAN CAPITAL END ₱270,333.33
 MARASIGAN MEDICAL CLINIC
BALANCE SHEET
AS OF DECEMBER 31, 2019

ASSETS
CURRENT ASSETS
CASH ₱114,000.00
ACCOUNTS RECEIVABLE ₱204,000.00
MEDICAL SUPPLIES ₱21,000.00
PREPAID INSURANCE ₱18,333.33
TOTAL CURRENT ASSESTS

NON CURRENT ASSETS

LAND ₱250,000.00
MEDICAL BUILDING ₱1,000,000.00
LESS: ACCUMULATED DEPRECIATION-MB ₱5,000.00 ₱995,000.00
MEDICAL EQUIPMENT ₱465,000.00
LESS:ACCUMULATED DEPRECIATION-ME ₱9,000.00 ₱456,000.00
TOTAL NON CURRENT ASSETS
TOTAL ASSETS

LIABILITIES
CURRENT LIABILITIES
ACCOUNTS PAYABLE ₱49,000.00
24% NOTES PAYABLE ₱400,000.00
20% NOTES PAYABLE ₱1,200,000.00
INTEREST PAYABLE ₱28,000.00
SALARIES PAYABLE ₱51,000.00
UNEARNED RESEARCH REVENUE ₱60,000.00
TOTAL CURRENT ASSETS

CAPITAL
MARASIGAN CAPITAL END
TOTAL LIABILITIES AND OWNERS EQUITY
 ₱357,333.33

₱1,701,000.00
₱2,058,333.33

₱1,788,000.00

₱270,333.33
₱2,058,333.33