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Didi Company

DIDI Company reported a net income of P28,080,000 for the year ending December 31, 2023, with total sales of P495,000,000 and a gross profit of P173,250,000. The balance sheet shows total assets of P492,375,000 and total liabilities of P246,750,000, resulting in stockholder's equity of P233,040,000. An additional funds needed (AFN) of P12,585,000 was identified to balance the forecasted assets and liabilities.

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21 views3 pages

Didi Company

DIDI Company reported a net income of P28,080,000 for the year ending December 31, 2023, with total sales of P495,000,000 and a gross profit of P173,250,000. The balance sheet shows total assets of P492,375,000 and total liabilities of P246,750,000, resulting in stockholder's equity of P233,040,000. An additional funds needed (AFN) of P12,585,000 was identified to balance the forecasted assets and liabilities.

Uploaded by

nikolgagola
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DIDI COMPANY

Income Statement
For the year ended December 31, 2023

Sales (P450M x1.1) P 495,000,000


Less: Cost of Goods Sold (65% of Sales) 321, 750,000
Gross Profit P 173, 250,000
Less: Expenses
Selling Expenses ( 13.33333% of sales) P 66,000,000
General & Administrative Expenses
( 3.666667 of Sales) 18, 150,000
Depreciation 22,500,000 106,250,000
Earnings before interest and taxes P 66,000,000
Less: Interest (P18M x 1.1) 19,800,000
Earnings before taxes P 46,800,000
Less: Taxes (40%) 18,720,000
Net income after taxes P 28,080,000
=============

DIDI COMPANY
Balance Sheet
December 31, 2023

ASSETS
Cash P 2,475,000
Accounts Receivable (20% of Sales) 99,000,000
Inventory (32% of Sales) 158,400,000
Total current assets 259,875,000
Net plant and equipment (P225M +30M – 22.5M) 232,500,000
Total Assets P 492,375,000
==============
LIABILITIES and EQUITIES
Accounts Payable (15% of Sales) P 74,250,000
Notes Payable 82,500,000
Accruals 7,500,000
Total Current Liabilities P 164,250,000
Long-term Debt 82,500,000
Total Liabilities P 246,750,000

Stockholder’s Equity
Common Stock P 106,500,000
Retained Earnings 126,540,000 233,040,000
Total Liabilities & Stockholder’s Equity before AFN P 479,790,000

Additional Funds Needed 12,585,000


Total liabilities & Stockholder’s Equity after AFN P 492,375,000
=============
Total forecasted assets P 492,375,000
Less: Total forecasted liabilities & Stockholder’s Equity before AFN 479,790,000
Additional Funds Needed P 12,585,000
============

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