Page114.chapter5 fs
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Carbon Plus Corporation
Project Cost
Schedule
Input tax 1 2,426,920
Property Plant and Equipment: 2
Land 2.1 1,773,013
Building-Admin Office 2.2 2,275,334
Building-Factory 2.3 10,564,213
Factory Machinery & Equipment 2.4 14,446,013
Delivery Equipment 2.5 5,089,286
Office Equipment 2.6 390,170
Office Furniture & Fixtures 2.7 178,125
Factory Furniture & Fixtures 2.8 58,750 34,774,904
Trademark 8 13,360
Organizational Cost 4 138,730
Pre Operating Expenses 5 6,877,567
Total 44,231,481
Add:Working Capital 2,200,000
Total Project Cost 46,431,481
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Carbon Plus CorporationWorking Capital
Raw Materials Required 23,216,143
Direct Labor 1,244,160
Factory Overhead 3,637,517
Administrative Expense 3,211,045
Selling Expense 2,150,057
Total 33,458,922
Less: Depreciation 1095256
Organizational Cost 138,730
Pre-Operating Expense 6,877,567 8,111,553
Balance 25,347,370
Divide by: 12
Monthy Expense 2,112,281
Allowance for Contingency 87,719
Working Capital 2,200,000
Carbon Plus CorporationPre-Operating Cash Flows
31-Dec-12Schedule
Cash Inflows
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Proceeds from Bonds Payable 10,000,000Proceeds from Stock Issuance 40,000,000Total Inflows 50000000
Cash OutflowsInput Tax 2,426,920Property Plant and Equipment:Land 1,773,
013 Building- Admin office 2,275,
334 Building- Factory 10,564,
213 Rotary Kiln 12,333,
049 Jaw Crusher 386,
509 Screener 831,
723 Generator 98,7
05 Vibrating feeder 397,
768 Forklift 378,
125 Platform Weighing scale 20,1
34 Delivery Equipment 5,089,
286 Office Equipment 390,
170 Furniture and Fixtures- office 178,
125 Furniture and Fixtures- Factory
58,750
34,774,904
Trademark 13,360Organizational Cost 138,730Pre-Operating Expenses 5,315,581Medical Supplies 12250Office Supplies 28,116Factory Supplies 21,626Total Outflows 42,731,
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487
Net Inflows 7,268,513
Carbon Plus CorporationPre-Operating Statement of Financial Position
31-Dec-12
ASSETSSchedul
eCurrent AssetsCash 7,268,513Raw Materials Inventory 5.3 5298081Medical Supplies 5.4 12250Factory Supplies 5.4 21,626Office Supplies 5.4 28116Organizational Cost 4 138,730Pre-Operating Expenses 5 767,500Input Tax 1 2,426,920Total Current Assets 15,961,736
Non-Current AssetsProperty, Plant & Equipment
34,774,904
Trademark 13,360Total Non-Current Assets 34,788,264Total Assets 50,750,000
Liabilities & EquityCurrent LiabilitiesInterest Payable 750000
Total Current Liabilities 750,000
Non-Current Liabilities
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Bonds Payable 10,000,000Notes PayableTotal Non-current Liabilities
10,000,000
Total Liabilities 10,750,000Shareholder's EquityCapital Stock of 500000 authorized shares, P100.00 par value, 400000 shares issued
40,000,000
Total Liabilities & Shareholder's Equity 50,750,000
Carbon Plus CorporationCost of Goods Sold Statement
For the year 2013- 2017
Schedule 2013 2014 2015 2016 2017Raw Materials, beginning
5,298,081
2,064,295
2,217,601
2,375,050
2,543,679
Add: Purchases 17,918,062
20,752,777
22,286,885
23,869,254
25,555,853
Raw Materials Available for use
23,216,143
22,817,072
24,504,486
26,244,304
28,099,532
Less: Raw Materials, ending
2,023,819
2,174,118
2,328,481
2,493,803
2,662,745
Raw Materials Used
21,192,324
20,642,954
22,176,005
23,750,502
25,436,787
Add: Direct Labor 1,244,160
1,244,160
1,306,368
1,306,368
1,306,368
Factory Overhead 3,637,517
3,670,524
3,775,852
3,811,870
3,848,898
Cost of Goods Manufactured
26,074,001
25,557,638
27,258,225
28,868,740
30,592,053
Add: Finished Goods, beginning
-
2,477,620
2,670,201
2,839,674
3,007,428
Total Goods Available for Sale
26,074,001
28,035,258
29,928,426
31,708,414
33,599,481
Less: Finished Goods, end
2,477,620
2,670,201
2,839,674
3,007,428
3,186,932
Cost of Goods
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Sold 23,596,381 25,365,057 27,088,752 28,700,985 30,412,550
Carbon Plus CorporationStatement of Recognized Income and Expenses
For the years 2012- 2016Schedule 2013 2014 2015 2016 2017
Sales 33,034,934
35,602,680
37,862,315
40,099,043
42,492,426
Less: Cost of Sales
23,596,381
25,365,057
27,088,752
28,700,985
30,412,550
Gross Profit 9,438,552
10,237,623
10,773,563
11,398,057
12,079,876
Less: Expenses Selling Expense
2,150,057
2,165,260
2,235,149
2,247,424
2,314,212
Administrative Expense
3,211,045
3,318,019
3,464,844
3,497,205
3,528,524
Pre-Operating Expense
6,127,573
Organizational Cost
138,730
Total Expenses
11,627,405
5,483,279
5,699,993
5,744,629
5,842,736
Operating Income
(2,188,853)
4,754,344
5,073,570
5,653,428
6,237,140
Interest Expense
850,000
650,000
450,000
250,000
50,000
Income before tax
(3,038,853)
4,104,344
4,623,570
5,403,428
6,187,140
Less: Income Tax Expense
188,771
1,231,303
1,387,071
1,621,028
1,856,142
BOD Fees -
205,217
231,178
270,171
309,357
Profit After Income Tax
(3,227,624)
2,667,824
3,005,320
3,512,228
4,021,641
EPS ( Profit after tax/Ave
(8)
7
8
9
10
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Outstanding Shares)
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Carbon Plus Corporation Statement of Cash Flows For the year 2013- 2017
2013 2014 2015 2016 2017 Net Cash flow provided from operation
Net Income (3,227,624)
2,667,824
3,005,320
3,512,228
4,021,641
Depreciation 945,182
945,182
945,182
945,182
945,182
Amortization of Trademark 1,336
1,336
1,336
1,336
1,336
(Increase) /Decrease in Current Asset Accounts Receivable
(2,890,557) (947,317)
(434,547)
(304,350)
(285,509)
Inventory 796,642
(342,880)
(323,835)
(333,077)
(348,446)
Factory Supplies Inventory 12,661
(665)
(684)
(732)
(750)
Medical Supplies Inventory 12,250
- - - -
Office Supplies Inventory (28,116)
Prepaid Insurance (27,863)
(836)
(861)
(887)
(913)
Organizational Cost 138,730
- - - -
Pre-Operating Expenses - - -
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767,500 - Input Tax
3,801,701 1,338,957
1,408,778
1,470,726
1,532,593
Increase/(Decrease) in Current Liabilities Trade and Other Payables
6,752,944 4,876,208
3,391,333
2,575,501
2,116,813
Income Taxes Payable 188,771
119,055
38,942
58,489
58,778
Net Cash provided from Operation 7,243,558
8,656,864
8,030,964
7,924,416
8,040,726
Net Cash flow provided from financing Payment of Bonds
2,000,000 2,000,000
2,000,000
2,000,000
2,000,000
Dividends Paid -
- 400,000
1,200,000
2,000,000
Net Cash flow provided from financing 2,000,000
2,000,000
2,400,000
3,200,000
4,000,000
Net Increase in Cash Balance 5,243,558
6,656,864
5,630,964
4,724,416
4,040,726
Add: Beginning Cash Balance 7,268,513
12,512,072
19,168,935
24,799,899
29,524,315
Ending Cash Balance 12,512,072
19,168,935
24,799,899
29,524,315
33,565,041
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Carbon Plus CorporationStatement of Financial Position
31-Dec
ASSETS Schedule 2013 2014 2015 2016 2017Current Assets
Cash 9,818,742
13,797,693
16,611,101
18,394,065
19,369,606
Accounts Receivable 2,890,557
3,837,874
4,272,421
4,576,771
4,862,280
Inventory 4,501,439
4,844,319
5,168,154
5,501,231
5,849,677
Factory Supplies Inventory 8,965
9,629
10,313
11,045
11,795
Prepaid Insurance 27,863
28,699
29,560
30,447
31,360
Input Tax 1,374,781
2,713,737
4,122,515
5,593,241
7,125,834
Total Current Assets 18,622,346
25,231,951
30,214,064
34,106,801
37,250,551
Non-Current AssetsProperty, Plant & Equipment
33,829,721 32,884,539
31,939,357
30,994,174
30,048,992
Trademark 12,024
10,688
9,352
8,016
6,680
Total Non-Current Assets 33,841,745
32,895,227
31,948,709
31,002,190
30,055,672
Total Assets 52,464,092
58,127,178
62,162,773
65,108,991
67,306,224
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Liabilities & EquityCurrent Liabilities
Trade and Other Payables 7,502,944
12,379,152
15,770,485
18,345,986
20,462,799
Income Taxes Payable 188,771
307,826
346,768
405,257
464,035
Bonds Payable 2,000,000
2,000,000
2,000,000
2,000,000
-
Total Current Liabilities 9,691,715
14,686,978
18,117,253
20,751,243
20,926,834
Non-Current LiabilitiesBonds Payable
6,000,000 4,000,000
2,000,000
-
-
Total Liabilities 15,691,715
18,686,978
20,117,253
20,751,243
20,926,834
Shareholder's EquityCapital Stock of 500,000 authorized shares, P100.00 par value, 400,000 sh issued
40,000,000
40,000,000
40,000,000
40,000,000
40,000,000
Retained Earnings (3,227,624)
(559,800)
2,045,520
4,357,748
6,379,389
Total SHE 36,772,376
39,440,200
42,045,520
44,357,748
46,379,389
Total Liabilities & Shareholder's Equity
52,464,092
58,127,178
62,162,773
65,108,991
67,306,224