PHILIPPINE REALTY & HOLDINGS CORPORATION Balance Sheet December 31, 1993 & 1992 (in million pesos) Exhibit 1 (conto) Statement of Income and Retained Earnings For the Years Ended December 31, 1993 and 1992 (in million pesos) 1993 1992 1993 1992 ASSETS REAL ESTATE HELD FOR SALE Land held for development and sale Condominium units Completed In-progress INCOME Sale of condominium units, net Interest Gain on sale of shares of stock Miscellaneous 408.3 10.5 0.7 0.6 420.1 1,065.7 13.6 10.0 0.7 1,090.0 162.2 162.2 258.7 761.2 1,182.1 7.7 294.0 538.4 994.6 15.4 34.7 EXPENSES Cost of condominium units sold and related expenses General and administrative expenses 7.7 CASH TEMPORARY CASH INVESTMENTS RECEIVABLES Trade Others 275.7 39.2 314.9 105.2 35.1 894.0 46.9 940.9 149.1 47.2 413.6 20.8 434.4 707.0 21.0 728.0 70.1 101.9 INVESTMENTS Shares of stocks of affiliated companies Others 3.1 37.6 40.7 4.0 0.3 1.2 16.9 18.1 3.5 1.9 INCOME BEFORE INCOME TAX PROVISION FOR INCOME TAX INCOME AFTER INCOME TAX, using cost method for investments in stock EQUITY IN NET EARNINGS OF AFFILIATED COMPANIES NET INCOME, using equity method for investments in stock RETAINED EARNINGS January 1 Stock Dividend Property Dividend December 31 72.0 PROPERTY AND EQUIPMENT OTHER ASSETS, PREPAYMENT AND DEFFERED CHARGES TOTAL ASSETS 102.2 399.4 9.3 1,685.9 18.2 1,812.5 287.8 (135.8) (213.7) 224.0 287.9 LIABILITIES AND STOCKHOLDER'S EQUITY ACCOUNTS PAYABLE AND ACCRUED EXPENSES 142.6 257.1 LOANS PAYABLE 208.7 311.8 DEPOSITS PAYABLE 47.7 15.7 INCOME TAX PAYABLE 21.2 34.2 SUBSCRIPTIONS PAYABLE 0.2 0.2 420.4 619.0 STOCKHODER'S EQUITY Capital stock 1,041.5 905.6 Additional paid-in capital 0.1 0.1 Retained earnings 224.0 287.9 1,265.6 1,193.6 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 1,685.9 1,812.5 PHILIPPINE REALTY & HOLDINGS CORPORATION Balance Sheet December 31, 1993 & 1992 (in million pesos) Exhibit 1 (conto) Statement of Income and Retained Earnings For the Years Ended December 31, 1993 and 1992 (in million pesos) 1993 1992 1993 1992 ASSETS REAL ESTATE HELD FOR SALE Land held for development and sale Condominium units Completed In-progress INCOME Sale of condominium units, net Interest Gain on sale of shares of stock Miscellaneous 408.3 10.5 0.7 0.6 420.1 1,065.7 13.6 10.0 0.7 1,090.0 162.2 162.2 258.7 761.2 1,182.1 7.7 294.0 538.4 994.6 15.4 34.7 EXPENSES Cost of condominium units sold and related expenses General and administrative expenses 7.7 CASH TEMPORARY CASH INVESTMENTS RECEIVABLES Trade Others 275.7 39.2 314.9 105.2 35.1 894.0 46.9 940.9 149.1 47.2 413.6 20.8 434.4 707.0 21.0 728.0 70.1 101.9 INVESTMENTS Shares of stocks of affiliated companies Others 3.1 37.6 40.7 4.0 0.3 1.2 16.9 18.1 3.5 1.9 INCOME BEFORE INCOME TAX PROVISION FOR INCOME TAX INCOME AFTER INCOME TAX, using cost method for investments in stock EQUITY IN NET EARNINGS OF AFFILIATED COMPANIES NET INCOME, using equity method for investments in stock RETAINED EARNINGS January 1 Stock Dividend Property Dividend December 31 72.0 PROPERTY AND EQUIPMENT OTHER ASSETS, PREPAYMENT AND DEFFERED CHARGES TOTAL ASSETS 102.2 399.4 9.3 1,685.9 18.2 1,812.5 287.8 (135.8) (213.7) 224.0 287.9 LIABILITIES AND STOCKHOLDER'S EQUITY ACCOUNTS PAYABLE AND ACCRUED EXPENSES 142.6 257.1 LOANS PAYABLE 208.7 311.8 DEPOSITS PAYABLE 47.7 15.7 INCOME TAX PAYABLE 21.2 34.2 SUBSCRIPTIONS PAYABLE 0.2 0.2 420.4 619.0 STOCKHODER'S EQUITY Capital stock 1,041.5 905.6 Additional paid-in capital 0.1 0.1 Retained earnings 224.0 287.9 1,265.6 1,193.6 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 1,685.9 1,812.5
