please Do a horizontal and vertical analysis based on the information given below
Maria's Merchandising Income Statement For year ended December 31, 2020 + Note 1 2 P 702,000 230,000 P 472,000 50,000 P522,000 3 Net Sales Cost of Sales Gross Profit Other Income Total Income Operating Expenses Distribution Expenses Administrative Expenses Other Expenses Finance Cost Net Income 5 P65,800 43,400 2,600 2.400 7 114.200 P 407,800 P 782,000 P32,000 80,000 P 702,000 P180,000 Note 1 - Net Sales Gross Sales Less: Sales Returns & Allowances Sales Discount Net Sales Note 2 - Cost of Sales Merchandise Inventory, Beginning Add: Net Cost of Purchases Purchases Less: Purchase Returns & Allowances Purchase Discount Net Purchases Add: Freight In Goods Available for Sale Less: Merchandise Inventory, End Cost of Sales P 220,000 P 34,000 2 5,000 60,000 P160,000 10,000 170,000 P350,000 120,000 P 230,000 P215,800 Marla's Merchandising Statement of Cash Flows For Year Ended December 31, 2020 Cash Flows from Operating Activities Receipts Collections from customers P315,000 Rent Income 30,000 Dividends Income 12,000 Interest Income 9,000 Payments Operating Expenses (145,000) Interest Expense (5,000 Net Cash from Operating Activities Cash Flows from Investing Activities Receipts Proceeds from sale of equipment P 15,000 Proceeds from sale furniture 8,000 Payments For purchase of furniture (31,000 Net Cash from Investing Activities Cash Flows from Financing Activities Receipts Additional Investment of owner P 22,000 Proceeds of bank loan 200,000 Payments Cash Withdrawal of owner (30,000) Payment of bank loan (150.000 Net Cash from Financing Activities Net Increase/Decrease in Cash Cash Balance - January 1 Cash Balance - December 31 18,0001 42,200 P 250,000 200,000 P 450,000 Marla's Merchandising Statement of Financial Position As of December 31, 2020 Assets Note 5 6 P 134,106 22, 351 29,802 26, 821 28,311 P241, 391 7 Current Assets Cash Investment in Trading Securities Trade and Other Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Non-Current Assets Property, Plant and Equipment Total Assets Liabilities & Owner's Equity Current Liabilities Total trade and Other Payables Non-Current Liabilities Mortgage Payable Loan Payable Total Non-Current Liabilities Total Liabilities 208, 509 P 450,000 P407,800 9 P21,863 P 15,253 20,337 P 42,200 Maria's Merchandising Income Statement For year ended December 31, 2020 + Note 1 2 P 702,000 230,000 P 472,000 50,000 P522,000 3 Net Sales Cost of Sales Gross Profit Other Income Total Income Operating Expenses Distribution Expenses Administrative Expenses Other Expenses Finance Cost Net Income 5 P65,800 43,400 2,600 2.400 7 114.200 P 407,800 P 782,000 P32,000 80,000 P 702,000 P180,000 Note 1 - Net Sales Gross Sales Less: Sales Returns & Allowances Sales Discount Net Sales Note 2 - Cost of Sales Merchandise Inventory, Beginning Add: Net Cost of Purchases Purchases Less: Purchase Returns & Allowances Purchase Discount Net Purchases Add: Freight In Goods Available for Sale Less: Merchandise Inventory, End Cost of Sales P 220,000 P 34,000 2 5,000 60,000 P160,000 10,000 170,000 P350,000 120,000 P 230,000 P215,800 Marla's Merchandising Statement of Cash Flows For Year Ended December 31, 2020 Cash Flows from Operating Activities Receipts Collections from customers P315,000 Rent Income 30,000 Dividends Income 12,000 Interest Income 9,000 Payments Operating Expenses (145,000) Interest Expense (5,000 Net Cash from Operating Activities Cash Flows from Investing Activities Receipts Proceeds from sale of equipment P 15,000 Proceeds from sale furniture 8,000 Payments For purchase of furniture (31,000 Net Cash from Investing Activities Cash Flows from Financing Activities Receipts Additional Investment of owner P 22,000 Proceeds of bank loan 200,000 Payments Cash Withdrawal of owner (30,000) Payment of bank loan (150.000 Net Cash from Financing Activities Net Increase/Decrease in Cash Cash Balance - January 1 Cash Balance - December 31 18,0001 42,200 P 250,000 200,000 P 450,000 Marla's Merchandising Statement of Financial Position As of December 31, 2020 Assets Note 5 6 P 134,106 22, 351 29,802 26, 821 28,311 P241, 391 7 Current Assets Cash Investment in Trading Securities Trade and Other Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Non-Current Assets Property, Plant and Equipment Total Assets Liabilities & Owner's Equity Current Liabilities Total trade and Other Payables Non-Current Liabilities Mortgage Payable Loan Payable Total Non-Current Liabilities Total Liabilities 208, 509 P 450,000 P407,800 9 P21,863 P 15,253 20,337 P 42,200
