NEW HORIZON MEDICAL SUPPLIES, INC.

Statement of Financial Position as of December 31, 2017, 2016, and 2015

(in thousand pesos )

2017 2016 2015

ASSETS
Cash ₱3,850.00 ₱4,180.00 ₱3,920.00
Marketable Securities 6,580.00 5,450.00 5,800.00
Accounts Receivables 1,500.00 2,350.00 2,010.00
Allowances for Doubtful Accounts ( 450.00) ( 400.00) ( 350.00)
Office Supplies 250.00 220.00 200.00
Merchandise Inventory 21,890.00 23,450.00 22,500.00
Total Current Assets ₱33,620.00 ₱35,250.00 ₱34,080.00

Land ₱2,580.00 ₱2,300.00 ₱2,150.00

Building 1,850.00 2,000.00 2,250.00
Machineries and Equipment 1,740.00 1,450.00 1,180.00
Delivery Trucks 1,030.00 1,150.00 1,380.00
7,200.00 6,900.00 6,960.00
less: Accumulated Depreciation 580.00 530.00 510.00
Net Fixed Assets ₱6,620.00 ₱6,370.00 ₱6,450.00

TOTAL ASSETS ₱40,240.00 ₱41,620.00 ₱40,530.00

LIABILITIES AND OWNERS' EQUITY

Accounts Payables ₱3,150.00 4,350.00 4,150.00
Notes Payables 1,720.00 2,260.00 2,100.00
Accrued Liabilities 850.00 1,050.00 980.00
Total Current Liabilities ₱5,720.00 7,660.00 7,230.00

Long-term Debt 5,000.00 6,500.00 5,800.00

TOTAL LIABILITIES ₱10,720.00 ₱14,160.00 ₱13,030.00

Owners' Equity 29,520.00 27,460.00 27,500.00

TOTAL LIABILITIES & OWNERS' EQUITY ₱40,240.00 ₱41,620.00 ₱40,530.00

NEW HORIZON MEDICAL SUPPLIES, INC.

Income Statement
Statement of Financial Position as of December 31, 2017, 2016, and 2015

2017 2016 2015

Net Sales ₱250,500.00 ₱243,500.00 ₱240,500.00

less: Cost of Goods Sold 155,000.00 152,500.00 150,500.00
Gross Profit 95,500.00 91,000.00 90,000.00

Selling and Administrative Expenses 33,300.00 32,950.00 32,500.00

Advertising Expenses 9,850.00 8,700.00 7,350.00
Depreciation and Amortization 1,270.00 1,020.00 850.00
Repairs and Maintenance 3,180.00 2,470.00 1,280.00
Total 47,600.00 45,140.00 41,980.00
Operating Profit 47,900.00 45,860.00 48,020.00

Other Expenses
Interest Expenses 1,050.00 980.00 890.00
Taxes 2,100.00 2,700.00 2,150.00
NET INCOME ₱44,750.00 ₱42,180.00 ₱44,980.00