ELIZABETH TAILORING MATERIALS STORE

Statement of Financial Position

Dec-31
ASSETS 2022
Current Assets
Cash P 1,281,600.00 P
Trading Securities 880,000.00
Accounts Receivable, net 670,000.00
Merchandise Inventory 950,000.00
Prepaid Expenses 370,000.00
Total Current Assets P 4,151,600.00 P

Non-Current Assets
Land P 8,000,000.00 P
Building, net 6,000,000.00
Equipment, net 950,000.00
Furniture, Fixtures, net 480,000.00
Total Non-Current Assets P 15,430,000.00 P
Total Assets P 19,581,600.00 P

Liabilities and Owner's Equity 2022

Liabilities
Current Liabilities
Accounts Payable P 630,000.00 P
Notes Payable, trade 400,000.00
Accrued Expenses 300,000.00
Total Current Liabilities P 1,330,000.00 P

Non-current Liabilities
Loans Payable P 1,200,000.00 P
Total Liabilities P 2,530,000.00 P

Owner's Equity
Tailoring Capital P 17,051,600.00 P
Total Liabilities and Owner's Equity P 19,581,600.00 P

EXPLANATIONS
The total assets increased by 7% with trading securities contributing to the highest percentage change, an increase of 109.52%
Total liabilities decreased by -0.78%, with notes payable, trade making up the majority of the decreased.
The owner's equity increased by 8.26%. The increase in owner's equity implies an increase in the residual interest of Elizabeth'
G MATERIALS STORE
ancial Position
31
2021 Peso Value Change Percentage Change

850,000.00 431,600.00 50.78 %

420,000.00 460,000.00 109.52 %
750,000.00 -80,000.00 -10.67 %
1,200,000.00 -250,000.00 -20.83 %
280,000.00 90,000.00 32.14 %
3,500,000.00 651,600.00 18.62 %

8,000,000.00 0.00 0%
5,500,000.00 500,000.00 9.09 %
800,000.00 150,000.00 18.75 %
500,000.00 -20,000.00 -0.04 %
14,800,000.00 630,000.00 4.26 %
18,300,000.00 1,281,600.00 7%

2021 Peso Value Change Percentage Change

600,000.00 30,000.00 5%
500,000.00 -100,000.00 -20 %
250,000.00 50,000.00 20 %
1,350,000.00 -20,000.00 -1.48 %

1,200,000.00 0.00 0%
2,550,000.00 -20,000.00 -0.78 %

15,750,000.00 1,301,600.00 8.26 %

18,300,000.00 1,281,600.00 7%

change, an increase of 109.52%.

e residual interest of Elizabeth's tailoring store's owner over the store.