BRICK COMPANY

Statement of Income and Expense

For the year ended December 31, 2020

20202019

Net Sales P780,000P624,000

Cost of Goods Sold 440,000405,600

Gross Profit 340,000218,400

Selling and Administrative Expense143,880149,760

Income from Operations196,120 68,640

Other Expenses and Losses

Interest expense 9,9207,200

Net IncomeP186,200P61,440

BRICK COMPANY

Statement of Financial Position

As of December 31, 2020

2020 2019

Assets

Current Assets

CashP23,100P21,600

Short-term investments34,80033,000

Accounts Receivable (net)106,200 93,800

Inventory116,400 64,000

Total Current Assets280,500212,400

Plant Assets455,300459,600

Total AssetsP735,800P672,000

Liabilities and Stockholders' Equity

Current Liabilities

Accounts PayableP168,200P132,000

Taxes Payable 25,300 24,000

Total Current Liabilities193,500156,000

Loans Payable 132,000120,000

Total Liabilities325,500276,000

Owners' Equity410,300396,000

Total Liabilities and Owners' EquityP735,800P672,000

Analyze for profitability, liquidity and solvency. Compute for:

a.Rate of return on sales

b.Return on owners' equity

c.Return on assets

d.Current ratio

e.Receivable turnover

f.Collection period

g.Inventory turnover

h.Days in inventory

i.Times interest earned

j.Asset turnover

k.Debt to total assets