JOMER'S RICE AND PALAY TRADING

STATEMENT OF INCOME
for the year ended December 31, 2020

2018
2020 2019 (for six mos.
ending Dec. 31)

REVENUES 3,070,965.15 2,117,907.00 730,312.50

LESS: COST OF SALES/SERVICE 2,420,301.83 1,678,434.00 552,116.25

GROSS PROFIT 650,663.32 439,473.00 178,196.25

LESS: ADMINISTRATIVE & OPERATING EXPENSES

Taxes & Licenses 5,981.85 5,697.00 13,931.00
Salaries & Wages 162,750.00 155,000.00 51,666.67
Fuel & Oil Used 52,206.41 40,452.00 17,627.00
Communication, Light & Water 6,011.25 5,725.00 2,602.50
Supplies & Materials Used 23,032.24 15,364.72 5,182.36
Repairs & Maintenance 21,496.76 10,245.65 7,033.40
Drying Fee 32,774.15 20,675.00 10,335.50
Depreciation 88,666.67 88,666.67 44,333.33
Total Administrative & Operating Expenses 392,919.32 341,826.04 152,711.76

NET PROFIT BEFORE INCOME TAX 257,744.00 97,646.96 25,484.49

LESS: PROVISION FOR INCOME TAX 1,936.00 - -

NET PROFIT AFTER INCOME TAX 255,808.00 97,646.96 25,484.49

JOMER'S RICE AND PALAY TRADING
STATEMENT OF FINANCIAL POSITION
for the year ended December 31, 2020

2018
(for six mos.
2020 2019
ending Dec.
31)
ASSET

CURRENT ASSETS
Cash and Cash Equivalents 1,082,006.90 632,775.51 342,963.83
Inventories 408,000.00 340,000.00
TOTAL CURRENT ASSETS 1,490,006.90 972,775.51 342,963.83

NON-CURRENT ASSETS
Property, Plant & Equipment
Drying Lot 1,500,000.00 1,500,000.00 1,500,000.00
Drying Pavement 630,000.00 630,000.00 630,000.00
Accumulated Depreciation - Drying Pavement - 116,666.66 - 70,000.00 - 23,333.33
Delivery Truck 495,000.00 495,000.00 495,000.00
Accumulated Depreciation - Delivery Truck - 91,666.66 - 55,000.00 - 18,333.33
Machineries & Equipment 72,000.00 72,000.00 72,000.00
Accumulated Depreciation - Machineries & Equipment - 13,333.34 - 8,000.00 - 2,666.67
TOTAL NON -CURRENT ASSETS 2,475,333.34 2,564,000.00 2,652,666.67

TOTAL ASSET 3,965,340.24 3,536,775.51 2,995,630.50

LIABILITIES AND CAPITAL

LIABILITIES
CURRENT LIABILITIES
Trade & Other Payables 968,120.73 795,364.00 351,865.95
Loan Payable - - -
TOTAL CURRENT ASSETS 968,120.73 795,364.00 351,865.95

CAPITAL
Capital, Beg 2,741,411.51 2,643,764.55 2,618,280.06
Add: Net Profit for the period 255,808.00 97,646.96 25,484.49
Total 2,997,219.51 2,741,411.51 2,643,764.55
Less: Withdrawal - - -
TOTAL CAPITAL 2,997,219.51 2,741,411.51 2,643,764.55

TOTAL LIABILITIES AND CAPITAL 3,965,340.24 3,536,775.51 2,995,630.50

JOMER'S RICE AND PALAY TRADING
STATEMENT OF CASH FLOW
for the year ended December 31, 2020

2020 2019

CASHFLOW FROM OPERATION ACTIVITIES

Net Income before Extraordinary Items 255,808.00 97,646.96
Adjustments to Reconcile Net Income
Depreciation 88,666.67 88,666.67
(Inc)/Dec in Inventories - 68,000.00 - 340,000.00
Inc/(Dec) in Trade & Other Payables 172,756.73 443,498.05

Net Cash Provided by Operating Activities 449,231.40 289,811.68

CASHFLOW FROM INVESTING ACTIVITIES

Net Cash Provided/Used by Investing Activities - -

CASHFLOW FROM FINANCING ACTIVITIES

Net Cash Provided/Used by Financing Activities - -

TOTAL INCREASE IN CASH & CASH EQUIVALENTS 449,231.39 289,811.68

Add: Cash & Cash Equivalents, Beg. 632,775.51 342,963.83
CASH & CASH EQUIVALENTS, END 1,082,006.90 632,775.51