PROBLEM 1
Makalilisang Company
Statement of Financial Position
As of December 31, 2013 and 2014

ASSETS
Cash
Accounts Receivable
Inventory
Long-term Investment
Land, Buildings and Equipment (net)
Intangible Assets
Other assets
Total Assets

LIABILITIES
Current Liabilities
Long-term Liabilities
Total Liabilities

STOCKHOLDER’S EQUITY
8% Preference Shares
Ordinary Shares
Share Premium
Retained Earnings
Total SHE

TOTAL LIABIITIES AND SHE

2013
P 3,000,000
40,000,000
27,000,000

15,000,000

100,000,000
10,000,000
5,000,000
P 200,000,000

P 30,000,000
88,000,000
118,000,000

10,000,000
54,000,000
5,000,000
13,000,000
82,000,000

P 200,000,000

2014
P 5,000,000
25,000,000
30,000,000

0

75,000,000
10,000,000
20,000,000
P 165,000,000

P 47,000,000
74,000,000
121,000,000

9,000,000
42,000,000
5,000,000
(12,000,000)
44,000,000

P 165,000,000

Increase or (Decrease)
Increase or (Decrease)

Peso
2,000,000
(15,000,000)
3,000,000

(15,000,000)

(25,000,000)
-
15,000,000
(35,000,000)

17,000,000
(14,000,000)
3,000,000

(1,000,000)
(12,000,000)
-
(25,000,000)
(38,000,000)

(35,000,000)

Percent
66.7%
(37.5%)
11.1%

(1.0%)

(25.0%)

3.0%
(21.2%)

56.7%
16.0%
2.5%

(10.0%)
(22.2%)
-
(2.0%)
(86.4%)