Fiest's Land Corp.

Statements of Income
and
Retained Earnings

Years Ended September 30

2019 2018
REVENUES

Rental Income 295,625,256.00 241,301,025.00

Realized Gross Profit on Sale of Office and Condominium Units
84,382,600.00

OPERATING EXPENSES

Depreciation and Amortization 71,399,342.00 59,970,086.00

Taxes and Licenses 24,279,991.00 15,619,044.00
Contracted Services 22,846,282.00 17,240,851.00
Provision for Doubtful Account and Contingencies 21,022,444.00 2,400,000.00
Light and Water 17,060,883.00 10,322,517.00
Salaries, Wages and Allowances 14,553,015.00 10,408,033.00
Commissions 12,665,005.00
Advertising and Promotions 10,755,959.00 7,521,021.00
Insurance 7,145,922.00 4,022,480.00
Repairs and Maintenance 2,045,885.00 1,133,789.00
Miscellaneous 27,043,502.00 10,701,181.00

INCOME FROM OPERATIONS

OTHER INCOME-Net

Interest 76,339,483.00 21,838,561.00

Others 52,693,927.00 37,092,443.00

INCOME BEFORE INCOME TAX 278,223,036.00 160,893,027.00

PROVISIONS FOR INCOME TAX 68,709,417.00 8,550,826.00
NET INCOME
RETAINED EARNINGS AT BEGINNING OR YEAR 225,826,820.00 73,484,619.00
CASH DIVIDENDS - P 0.10 per share (100,000,000.00)
RETAINED EARNINGS AT END OF YEAR

Prepared by: Your Full Name 335,340,439.00 225,826,820.00