1. For 2021 the company want to sold 35,000 units of product and sell it at 80% above the price of 2020 units. This move made the unit production cost increase by 50% while all other expenses increased by 25%

2. The interest paid for the year is from the loan taken 3 years ago amounting to P300,000 with 30% interest compounded semi-annually (round to the nearest whole number)

3. The same dividend payout ratio was used for this year. Outstanding ordinary shares is 30,000 shares

4. The value of the ending inventory is the one that will reflect on the inventory section of the balance sheet for this year.

5. The division of sales in peso per quarter is the same rate as the division of sales in unit in 2020 with 65% being collected on the quarter of sale and 35% the following month

6. Materials expense for the sold items are spread out evenly on each quarter and is paid 40% on the quarter it was used, 30% the next quarter and 20% the following quarter and 10% 2 quarters after.

7. All other expenses are paid at the end of each quarter with dividend being paid on the last quarter of the year.

8. Loans executed and paid for the year has an interest of 25% (for cash budget purposes only)

9. P3 million is the cash amount the company would like to retain per quarter

10. Property plant and equipment and Marketable securities increased by 10%; accrued expensed, loans payable increased by 20%

Make a Balance sheet for 2021