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INCOME STATEMENT

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Geofrey Rivera
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2 views

INCOME STATEMENT

Uploaded by

Geofrey Rivera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SSS Contribution - Employer share 3 34,944.00 38,438.40 42,282.24 46,510.46 51,161.

51
Supplies expenses 17,500.00 19,250.00 21,175.00 23,292.50 25,621.75
Depreciation expense 4 22,580.00 22,580.00 23,005.00 23,005.00 23,073.89
Utilites expenses 26,400.00 29,040.00 31,944.00 35,138.40 38,652.24
Transporation expenses 17,000.00 18,700.00 20,570.00 22,627.00 24,889.70
Repair & maintenace expenses 54,000.00 59,400.00 65,340.00 71,874.00 79,061.40
Rental 450,000.00 450,000.00 450,000.00 450,000.00 450,000.00
Permit & licenses 3,000.00 3,300.00 3,630.00 3,993.00 4,392.30
Gasoline 5,600.00 6,160.00 6,776.00 7,453.60 8,198.96
Total Operating Expenses 1,112,960.00 1,176,998.00 1,247,864.80 1,325,350.78 1,410,654.25
Net Income before Income Tax 781,860.00 1,077,393.50 1,424,734.47 1,833,355.84 2,312,762.36
Less: Income Tax Expense 5 125,465.00 213,218.05 317,420.34 440,006.75 590,083.95
Net Income 656,395.00 864,175.45 1,107,314.13 1,393,349.09 1,722,678.40
Schedule 1: Net Sales
Selling Production
Sizes Price in Kilos 1st Year 2nd Year 3rd Year 4th Year 5th Year
Normal Size 150 12,600 1,890,000.00 2,173,500.00 2,499,525.00 2,874,453.75 3,305,621.81
Under Size 140 2,361 330,540.00 380,121.00 437,139.15 502,710.02 578,116.53
Over size 170 4,725 803,250.00 923,737.50 1,062,298.12 1,221,642.84 1,404,889.27
Schedule 1: Net Sales
Selling Production
Sizes Price in Kilos 1st Year 2nd Year 3rd Year 4th Year
Normal Size 150 12,600 1,890,000.00 2,173,500.00 2,499,525.00 2,874,453.75
Under Size 140 2,361 330,540.00 380,121.00 437,139.15 502,710.02
Over size 170 4,725 803,250.00 923,737.50 1,062,298.12 1,221,642.84
TOTAL 3,023,790.00 3,477,358.50 3,998,962.27 4,598,806.62

Schedule 2: Cost of Sales

Schedule 2: Cost of Sales


Note 1st Year 2nd Year 3rd Year
Fingerlings 1 189,000.00 189,000.00 189,000.00
Direct Labor 2 82,680.00 90,948.00 100,042.00
Pond maintenance 27,840.00 30,624.00 33,686.00
Equipment maintenance 27,840.00 30,624.00 33,686.00
Laborers 27,000.00 29,700.00 32,670.00
Cost of feeds 3 857,290.00 943,019.00 1,037,321.00
TOTAL 91,850.00 23,005.00

Annual
Estimated Depreciation
Product/Items Cost Scrap Life (5th Year)
Seine Net 17,987.79 - 2 8,993.89
Weighing Scale 1,000.00 50.00 5 190.00
Pickaxe 2,000.00 100.00 5 380.00
Shovel 1,000.00 50.00 5 190.00
Water pump 28,000.00 2,800.00 5 5,040.00
Box 30,000.00 - 5 6,000.00
Wooden Casse 12,000.00 600.00 5 2,280.00
TOTAL 91,987.79 23,073.89

Schedule 5: Income Tax Expense


1st Year 2nd Year 3rd Year
Income before Income Tax
Year 1 781,860.00 1,077,393.50 1,424,734.47
1st Php400,000.00 30,000.00
25% Excess of Php400,000.00 95,465.00

Year 2 to 4
1st Php800,000.00 130,000.00 130,000.00
30% Excess of Php800,000 83,218.05 187,420.34

Year 5
1st Php2,000,000.00
32% Excess of Php2,000,000.00

TOTAL 125,465.00 213,218.05 317,420.34

Schedule 5: Income Tax Expense


1st Year 2nd Year 3rd Year 4th Year 5th Year
Income before Income Tax
Year 1 781,860.00 1,077,393.50 1,424,734.47 1,833,355.84 2,312,762.36
1st Php400,000.00 30,000.00
25% Excess of Php400,000.00 95,465.00

Year 2 to 4
1st Php800,000.00 130,000.00 130,000.00 130,000.00
30% Excess of Php800,000 83,218.05 187,420.34 310,006.75

Year 5

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