CL Beauty Salon

(Sole Proprietorship)

Income Statement

For the years ended December 31 2020 2021 2022

Revenues 1,440,000.00 1,734,000.00 1,907,400.00

Cost of Service 650,000.00 682,500.00 716,625.00

Gross Profit 790,000.00 1,051,500.00 1,190,775.00

Operating Expence:
Rentals 144,000.00 144,000.00 144,000.00
Salaries and Wages 594,000.00 672,000.00 720,000.00
Utilities 48,000.00 51,000.00 52,500.00
Depreciation 69,448.00 55,558.40 41,668.80
Taxes and licences 5,000.00 3,000.00 3,000.00
Repairs and maintenance 10,000.00 - -
Transportation 15,000.00 5,300.00 5,600.00

Total Operating Expense 885,448.00 930,858.40 966,768.80

NET (LOSS) INCOME BEFORE TAX - 95,448.00 120,641.60 224,006.20

INCOME TAX EXPENSE - - -

NET (LOSS) INCOME AFTER TAX - 95,448.00 120,641.60 224,006.20

 2023 2024

2,098,140.00 2,307,954.00

752,456.25 790,079.06

1,345,683.75 1,517,874.94

144,000.00 144,000.00
819,600.00 830,400.00
53,100.00 54,400.00
27,779.20 13,889.60
3,000.00 3,000.00
7,000.00 7,300.00
5,900.00 6,200.00

1,060,379.20 1,059,189.60

285,304.55 458,685.34

- -

285,304.55 458,685.34
 CL Beauty Salon
(Sole Proprietorship)

BALANCE SHEET
(In Philippine Peso)

As at December 31,
ASSETS 2020 2021 2022

CURRENT ASSETS
Cash 245,000.00 474,900.00 555,489.40
Petty Cash 50,000.00 46,000.00 61,000.00
Supplies 35,000.00 57,300.00 55,000.00

Total current assets 330,000.00 578,200.00 671,489.40

NON - CURRENT ASSETS

Salon Equipment, net 18,804.00 15,043.20 11,282.40
Furniture and fixtures, net 50,644.00 40,515.20 30,386.40

Total non - current assets 69,448.00 55,558.40 41,668.80

TOTAL ASSETS 399,448.00 633,758.40 713,158.20

LIABILITIES & OWNER'S EQUITY

CURRENT LIABILITIES
Accounts Payable 28,000.00 29,000.00 18,500.00
Accrued expenses 17,500.00 18,600.00 -

Total current liabilities 45,500.00 47,600.00 18,500.00

OWNER'S EQUITY
Clarissedel Paler - capital, beg 414,896.00 465,516.80 470,652.00
Additional Capital 34,500.00 - -
Net (loss) income - 95,448.00 120,641.60 224,006.20
Drawings - - -

Total owner's equity 353,948.00 586,158.40 694,658.20

TOTAL LIABILITIES & OWNER'S EQUITY 399,448.00 633,758.40 713,158.20

2023 2024

662,529.75 863,295.74
21,846.00 30,000.00
10,000.00 20,000.00

694,375.75 913,295.74

7,521.60 3,760.80
20,257.60 10,128.80

27,779.20 13,889.60

722,154.95 927,185.34

20,000.00 27,000.00
- 15,000.00

20,000.00 42,000.00

446,850.40 466,500.00
- -
285,304.55 458,685.34
30,000.00 40,000.00

702,154.95 885,185.34

722,154.95 927,185.34
CL Beauty Salon
Detailed Schedules

Note: Depreciation starts on the month of acquisition.

Salon's Equipment
EUL (in Total Dep Total Dep
Particulars Month Amount Monthly dep
mos) 2024 2023
Iron hair January 4,500.00 60 75.00 900.00 900.00
dyers January 3,600.00 60 60.00 720.00 720.00
supply cart January 3,882.00 60 64.70 776.40 776.40
pedicure chairs January 2,850.00 60 47.50 570.00 570.00
nail drying lamps January 1,236.00 60 20.60 247.20 247.20
nail polish racks January 2,736.00 60 45.60 547.20 547.20

18,804.00 313.40 3,760.80 3,760.80

FURNITURE & FIXTURES

EUL (in Total Dep Total Dep

Particulars Qty Amount
mos) Monthly dep 2024 2023

chairs 3 6,897.00 60 114.95 1,379.40 1,379.40

couch 2 6,500.00 60 108.33 1,300.00 1,300.00
lamps 3 3,750.00 60 62.50 750.00 750.00
tables 3 10,500.00 60 175.00 2,100.00 2,100.00
shampoo chairs 3 2,997.00 60 49.95 599.40 599.40
mirrors 4 20,000.00 60 333.33 4,000.00 4,000.00

50,644.00 844.07 10,128.80 10,128.80

Total Dep Total Dep Total Dep Accum Dep to
NBV
2022 2021 2020 Date
900.00 900.00 900.00 4,500.00 -
720.00 720.00 720.00 3,600.00 -
776.40 776.40 776.40 3,882.00 -
570.00 570.00 570.00 2,850.00 -
247.20 247.20 247.20 1,236.00 -
547.20 547.20 547.20 2,736.00 -

3,760.80 3,760.80 3,760.80 18,804.00 -

Total Dep Total Dep Total Dep Accum Dep to

NBV
2022 2021 2020 Date

1,379.40 1,379.40 1,379.40 6,897.00 -

1,300.00 1,300.00 1,300.00 6,500.00 -
750.00 750.00 750.00 3,750.00 -
2,100.00 2,100.00 2,100.00 10,500.00 -
599.40 599.40 599.40 2,997.00 -
4,000.00 4,000.00 4,000.00 20,000.00 -

10,128.80 10,128.80 10,128.80 50,644.00 -