(1.

) HORIZONTAL OR TREND ANALYSIS

BALANCE SHEET
COMPARATIVE BALANCE SHEET
December 31, 2009 & 2010
(Pesos in thousands)
Increase (Decrease)
Amount

2008

2007

283,000.00
1,000,000.00
1,000,000.00
500,000.00
90,000.00
2,873,000.00

150,000.00
850,000.00
500,000.00
750,000.00
100,000.00
2,350,000.00

133,000.00
150,000.00
500,000.00
(250,000.00)
(10,000.00)
523,000.00

500,000.00
500,000.00
1,500,000.00
2,500,000.00

500,000.00
550,000.00
1,700,000.00
2,750,000.00

(50,000.00)
(200,000.00)
(250,000.00)

400,000.00
400,000.00
5,773,000.00

400,000.00
400,000.00
5,500,000.00

273,000.00

LIABILITIESD AND STOCKHOLDERS' EQUITY

Current Liabilities:
Accounts Payable, Trade
Notes Payables, Trade
Expenses Payable
Total Current Liabilities

790,000.00
150,000.00
60,000.00
1,000,000.00

610,000.00
100,000.00
40,000.00
750,000.00

180,000.00
50,000.00
20,000.00
250,000.00

Long-Term Liabilities:
Notes Payable
Total Long-Term Liabilities
Total Liabilities

2,250,000.00
2,250,000.00
3,250,000.00

2,500,000.00
2,500,000.00
3,250,000.00

(250,000.00)
(250,000.00)
-

500,000.00
1,500,000.00
2,000,000.00
523,000.00
2,523,000.00
5,773,000.00
-

500,000.00
1,500,000.00
2,000,000.00
250,000.00
2,250,000.00
5,500,000.00
-

273,000.00
273,000.00
273,000.00

ASSETS
Current Assets:
Cash
Marketable Securities
Accounts Receivable, net
Inventories
Deferred Charges
Total Current Assets
Property and Equipment:
Land
Building, net
Machinery & Equipment, net
Total Property & Equipment
Other Assets:
Goodwill
Total Other Assets
Total Assets

Stockholders' Equity
Preferred Stock, 15%, P100 par
Common Stock, P 10 par
Total Paid-in Capital
Retained Earnings
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity

rease (Decrease)
Percent

88.7%
17.6%
100.0%
-33.3%
-10.0%
22.3%

0.0%
-9.1%
-11.8%
-9.1%
0.0%
5.0%

29.5%
50.0%
50.0%
33.3%

-10.0%
-10.0%
0.0%

0.0%
0.0%
0.0%
109.2%
12.1%
5.0%

(2) EXAMPLE OF VERTICAL ANALYSIS

INCOME STATEMENT
Sales
Less: Sales Returns and Allowances
Net Sales
Less: Cost of Goods sold
Inventory, December 31, 2007
Add: Purchases
Total Goods Available for Sale
Less: Inventory, December 31, 2008
Gross Margin
Operating Expenses:
Selling Expenses
Administrative Expenses (including Dep. P250k)
Total Operating Expenses
Net Operating Income
Interest Expense
Net Income before taxes
Less Income taxes (35%)
Net Income
Dividends paid on preferred stock
(see balance sheet above)
Net Income remaining to common stockholders
Dividend paid on common stock
Net Income added to Retained Earnings
Retained Earnings, beginning of the year
Retained Earnings, end of the year

2008
5,250,000.00
(250,000.00)
5,000,000.00
750,000.00
2,750,000.00
3,500,000.00
(500,000.00)

3,000,000.00
2,000,000.00
400,000.00
600,000.00
1,000,000.00
1,000,000.00
250,000.00
750,000.00
262,500.00
487,500.00

75,000.00
412,500.00
162,000.00
250,500.00
250,000.00
500,500.00
(22,500.00)

Common Size Percentage

100.0%
-4.76%
95.2%
14.29%
52.38%
66.67%
-9.52%

57.14%
38.10%
7.62%
11.43%
19.05%
19.05%
4.76%
14.29%
5.00%
9.29%

(3). VERTICAL ANALYSIS

BALANCE SHEET
COMPARATIVE BALANCE SHEET
December 31, 2007 & 2008
(Pesos in thousands)
Increase (Decrease)
Amount

2008

2007

283,000.00
1,000,000.00
1,000,000.00
500,000.00
90,000.00
2,873,000.00

150,000.00
850,000.00
500,000.00
750,000.00
100,000.00
2,350,000.00

133,000.00
150,000.00
500,000.00
(250,000.00)
(10,000.00)
523,000.00

500,000.00
500,000.00
1,500,000.00
2,500,000.00

500,000.00
550,000.00
1,700,000.00
2,750,000.00

(50,000.00)
(200,000.00)
(250,000.00)

400,000.00
400,000.00
5,773,000.00

400,000.00
400,000.00
5,500,000.00

273,000.00

LIABILITIESD AND STOCKHOLDERS' EQUITY

Current Liabilities:
Accounts Payable, Trade
Notes Payables, Trade
Expenses Payable
Total Current Liabilities

790,000.00
150,000.00
60,000.00
1,000,000.00

610,000.00
100,000.00
40,000.00
750,000.00

180,000.00
50,000.00
20,000.00
250,000.00

Long-Term Liabilities:
Notes Payable
Total Long-Term Liabilities
Total Liabilities

2,250,000.00
2,250,000.00
3,250,000.00

2,500,000.00
2,500,000.00
3,250,000.00

(250,000.00)
(250,000.00)
-

500,000.00
1,500,000.00
2,000,000.00
523,000.00
2,523,000.00
5,773,000.00
-

500,000.00
1,500,000.00
2,000,000.00
250,000.00
2,250,000.00
5,500,000.00
-

273,000.00
273,000.00
273,000.00

ASSETS
Current Assets:
Cash
Marketable Securities
Accounts Receivable, net
Inventories
Deferred Charges
Total Current Assets
Property and Equipment:
Land
Building, net
Machinery & Equipment, net
Total Property & Equipment
Other Assets:
Goodwill
Total Other Assets
Total Assets

Stockholders' Equity
Preferred Stock, 15%, P100 par
Common Stock, P 10 par
Total Paid-in Capital
Retained Earnings
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity

rease (Decrease)
Percent

88.7%
17.6%
100.0%
-33.3%
-10.0%
22.3%

0.0%
-9.1%
-11.8%
-9.1%
0.0%
5.0%

29.5%
50.0%
50.0%
33.3%

-10.0%
-10.0%
0.0%

0.0%
0.0%
0.0%
109.2%
12.1%
5.0%