SANDBOX CORPORATION
STATEMENT OF FINANCIAL POSITION
DECEMBER 31, 2020 AND 2021
SANDBOX CORPORATION
COMPARATIVE INCOME STATEMENT
FOR THE YEARS ENDED, DECEMBER 31, 2020 AND 2021
2021
ASSETS
CURRENT ASSETS
CASH
ACCOUNTS RECEIVABLE
INVENTORY
PREPAID EXPENSES
TOTAL CURRENT ASSETS
PLANT AND EQUIPMENT (NET)
TOTAL ASSETS
₱
70,932.00
218,549.00
223,242.00
67,710.00
580,433.00
2020
₱
68,250.00
184,978.00
197,097.00
76,542.00
526,867.00
90,503.00
110,987.00
₱ 670,936.00
₱ 637,854.00
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE
BANK LOANS AND OTHER PAYABLES
CURRENT PORTION OF NOTES PAYABLE
TOTAL CURRENT LIABILITIES
158,214.00
71,672.00
30,000.00
259,886.00
139,135.00
56,769.00
30,000.00
225,904.00
NOTES PAYABLE (11%) LONG TERM
139,000.00
169,000.00
TOTAL LIABILITIES
398,886.00
394,904.00
EQUITY
PREFERENCE SHARES, P8 DIVIDEND, P100 PAR
ORDINARY SHARES, P1 PAR VALUE
ADDITIONAL PAID IN CAPITAL
TOTAL PAID IN CAPITAL
70,000.00
10,000.00
90,000.00
170,000.00
70,000.00
10,000.00
90,000.00
170,000.00
RETAINED EARNINGS
101,510.00
72,950.00
TOTAL EQUITY
271,510.00
242,950.00
₱ 670,396.00
₱ 637,854.00
TOTAL LIABILITIES & EQUITY
2021
SALES REVENUE
COST OF GOODS SOLD
GROSS PROFIT
OPERATING EXPENSES
SELLING
ADMINISTRTAIVE
TOTALOPERATINGF EXPENSES
OPERATING INCOME/NET INCOME BEFORE INTEREST AND TAXES
INTEREST EXPENSE
NET INCOME BEFORE TAXES
INCOME TAXES (35%)
NET INCOME
DIVIDENDS TO PREFERENCE SHAREHOLDERS
NET INCOME AVAILABLE TO ORDINARY SHAREHOLDERS
DIVIDENDS TO ORDINARY SHARE HOLDERS
NET INCOME ADDED TO RETAINED EARNINGS
RETAINED EARNINGS, BEG.
RETAINED EARNINGS, ENDING
2020
2,000,000.00
1,472,000.00
528,000.00
₱ 1,801,802.00
1,309,910.00
491,892.00
248,000.00
138,000.00
386,000.00
142,000.00
27,907.00
114,093.00
39,933.00
74,160.00
230,000.00
142,000.00
372,000.00
119,892.00
29,270.00
90,622.00
31,718.00
58,904.00
5,600.00
68,560.00
40,000.00
28,560.00
72,950.00
101,510.00
₱
5,600.00
53,304.00
32,000.00
21,304.00
51,646.00
72,950.00