1. The company sold 7,500; 5,000; 10,000; 2,500 units on the 4 quarters of the year respectively at a price of P510.00. The company has 1,500 units unsold with P195, P160, P120 production cost allocated as materials, labor and overhead.

2. Gross profit margin is 35%, Dividend Payout is 60%

3. Selling expenses amounted to P212,450 and Administrative Expenses amounted to P1.465 million

4. The interest paid on the year was from the loan made 5 years ago with 20% interest compounded annually amounting to P250,000.

5. The company holds the cash at 15% of sales, the earnings available to ordinary share holders is the exact amount that is reflected on the retained earnings.

6. Ordinary and preference shares amounted to P3.76 million and P2,506,798.40 respectively.

7. The liability section of the balance sheet is composed of loans payable amounting to P3,514,400 with accounts payable 85% of Accounts Receivable and Accrued expenses is 40% above marketable securities.

8. Accounts Receivable amounted to P980,000 and Inventory amounted to P1,757,200 and P350,300; P6,780,250 were the amounts for marketable securities and PPE, respectively.

9. Outstanding ordinary shares is 25,000 shares

Make an Income statement.