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Bernardo Corporation Statement of Financial Position As of Year 2019 Assets

The Bernardo Corporation's statement of financial position and statement of financial operations for 2019 are presented. As of 2019, Bernardo Corporation had total assets of $81.4 million, including current assets of $29.5 million and fixed assets of $51.5 million. Total liabilities were $46.3 million, including current liabilities of $34.5 million. Equity included preferred stock, additional paid-in capital, retained earnings, and treasury stocks totaling $30.8 million. In 2019, Bernardo Corporation had net sales of $35.2 million and net profits after interest and taxes of $7.5 million.

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Jean Marie Delgado
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433 views3 pages

Bernardo Corporation Statement of Financial Position As of Year 2019 Assets

The Bernardo Corporation's statement of financial position and statement of financial operations for 2019 are presented. As of 2019, Bernardo Corporation had total assets of $81.4 million, including current assets of $29.5 million and fixed assets of $51.5 million. Total liabilities were $46.3 million, including current liabilities of $34.5 million. Equity included preferred stock, additional paid-in capital, retained earnings, and treasury stocks totaling $30.8 million. In 2019, Bernardo Corporation had net sales of $35.2 million and net profits after interest and taxes of $7.5 million.

Uploaded by

Jean Marie Delgado
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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Bernardo Corporation

Statement of Financial Position


As of Year 2019

ASSETS
Current Assets
Cash and Cash Equivalents 9,001,250
Inventories 5,300,661
Accounts Receivables, net 8,200,110
Notes Receivable 250,000
Prepaid Expenses 2,600,000
Marketable Securities 3,700,328
Advances to Employees 450,000
Total Current Assets 29, 502,349
Fixed Assets
Property, Plant, and Equipment
Land 11,500,000
Building, net 29,000,250
Equipment, net 7,720,089
Computer Software 3,250,000
Total Fixed Assets 51,470,339
Other Assets
Long-term Refundable Deposit 330,000
Goodwill 50,000
Lease Rights 100,000
Accrued Interest Income 10,000
Total Other Assets 490,000
TOTAL ASSETS 81,462,688

LIABILITIES
Current Liabilities
Accounts Payable 19,400,080
Accrued Salaries 2,804,208
Notes Payable, short 1,200,500
PhilHealth Payable 2,001,000
SSS Payable 6,400,800
Unearned Income 403,000
Withholding Tax Payable 2,330,000
Total Current Liabilities 34,539,588
Non-current Liabilities
Bonds Payable 6,161,000
Mortgage Payable 4,200,100
Notes Payable, long 1,398,500
Total Non-current Liabilities 11,759,600
Total Liabilities 46,299,188
EQUITY
Preferred Stock 20,300,000
Additional Paid-in Capital 7,305,000
Retained Earnings 5,108,500
Treasury Stocks 2,450,000
Total Equity 30,763,500
TOTAL LIABILITIES AND EQUITY 81,462,688

Bernardo Corporation
Statement of Financial Operations
For the Year Ended 2019

Sales 35,400,750
Less: Sales Return, Discount, and Allowances (210,500)
Net Sales 35,190,250
Cost of Goods Sold 9,359,960
Gross Profit 25,830,290

Less: Operating Expenses


Selling Expenses
Advertising Expenses (1,500,110)
Marketing Expenses (978,400)
Total Selling Expenses (2,478,510)
General and Administrative Expenses
Rental Expense (2,400,000)
Depreciation Expense (770,000)
Salaries Expense (9,430,220)
Total General and Administrative
(12,600,220)
Expenses
Total Operating Expenses (15,078,730)
Total Operating Profit 10,751,560

Less: Other Gains (losses)


Other Income – Dividends 500,000
Loss on Sale of Equipment (88,580)

Earnings Before Interest and Taxes 11,162,980


Less: Interest and Tax Expense (3,649,710)
Net Profits After Interest and Taxes 7,513,270
Less: Preferred Dividends (2,700,720)
Earnings Available for Common
4,812,550
Stockholders

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