Sweet Beginnings Co.
Projected Balance Sheet for 2016
Cash
₱640,000
Accounts Receivable
₱4,224,948
Inventories
₱1,076,000
Short term investments
₱9,495,393
Total Current Assets
₱15,436,340
Gross, plant, property and equipment
₱9,896,000
Accumulated Depreciation
₱2,268,100
NET PPE
₱7,627,900
Total Assets
₱23,064,241
Accounts Payable
₱5,189,351
Short term Borrowings
₱-
Payable to PPE Supplier
₱1,200,000
Accrued Taxes
₱434,575
Total Current Liabilities
₱6,823,926
Owner’s Equity
₱16,240,315
Total Liabilities and Equity
₱23,064,241
Sweet Beginnings Co.
Projected Balance Sheet for 2016
Gross Sales
₱ 84,075,350
Cost of Goods
₱ 61,963,533
Gross Profit
₱ 22,111,817
Delivery Fees
₱ 2,522,261
Operating Expense
₱ 5,044,521
Depreciation
₱ 989,600
Interest Expense
₱ 1,485,866
Pretax Profit
₱ 12,069,570
Income Tax
₱ 3,980,127
Net Profit
₱ 8,089,433