EXHIBIT 1  

         
Projected Income Statement
Schedule
  no. Year 1 Year 2 Year 3 Year 4 Year 5

Sales Revenue 1 16,265,600.00 17,078,880.00 17,932,824.00 18,829,465.20 19,770,938.46

Less: Cost of Goods Sold 2 7,707,315.60 8,092,681.38 8,497,315.45 8,922,181.22 9,368,290.29

Gross Profit 8,558,284.40 8,986,198.62 9,435,508.55 9,907,283.98 10,402,648.17

Less: Total Operating Expenses  

Salaries Expense 3 2,130,960 2,130,960 2,130,960 2,130,960.00 2,130,960.00

SSS, PhilHealth and Pag-IBIG Contribution 4 289,988 289,988 289,988 289,988.40 289,988.40
Supplies Expense 5 1,826 1,826 1,826 1,826 1,826

Utilities Expense 6 459,739.29 459,739.29 496,518.43 536,239.90 579,139.10

Advertising Expense 7 8,928.57 9,642.86 10,414.29 11,247.43 12,147.22

Business Permits and License 8 141,500.00 148,006.24 148,331.55 148,673.13 149,031.79

Repair and Maintenance 9 59,890.67 64,681.92 69,856.48 75,445.00 81,480.59

Export Expense 10 651,257.00 651,257.00 651,257.00 651,257.00 651,257.00

Depreciation Expenses 11 425,378.93 425,378.93 425,378.93 425,378.93 425,378.93

Total Operating Expenses 4,169,468.75 4,181,480.53 4,224,530.96 4,271,015.68 4,321,208.92

Net Income Before Income Tax 4,388,815.65 4,804,718.09 5,210,977.58 5,636,268.30 6,081,439.25

Less: Tax (25%) 1,097,203.91 1,201,179.52 1,302,744.40 1,409,067.07 1,520,359.81

Net Income After Income Tax 3,291,611.74 3,603,538.57 3,908,233.19 4,227,201.22 4,561,079.44
 Projected Statement of Changes in Equity
Particulars Partners
Total
Year 1 Lara, Capital Lare, Capital
Beginning Balance 6,527,060.51 6,527,060.51 13,054,121.02
Add: Share in Net Income 1,645,805.87 1,645,805.87 3,291,611.74
Total 8,172,866.38 8,172,866.38 16,345,732.76
Less: Withdrawals 576,032.05 576,032.05 1,152,064.11
Ending Balance 7,596,834.33 7,596,834.33 15,193,668.65
Year 2  
Beginning Balance 7,596,834.33 7,596,834.33 15,193,668.65
Add: Share in Net Income 1,801,769.28 1,801,769.28 3,603,538.57
Total 9,398,603.61 9,398,603.61 18,797,207.22
Less: Withdrawals 630,619.25 630,619.25 1,261,238.50
Ending Balance 8,767,984.36 8,767,984.36 17,535,968.72
Year 3  
Beginning Balance 8,767,984.36 8,767,984.36 17,535,968.72
Add: Share in Net Income 1,954,116.59 1,954,116.59 3,908,233.19
Total 10,722,100.95 10,722,100.95 21,444,201.91
Less: Withdrawals 683,940.81 683,940.81 1,367,881.62
Ending Balance 10,038,160.15 10,038,160.15 20,076,320.29
Year 4  
Beginning Balance 10,038,160.15 10,038,160.15 20,076,320.29
Add: Share in Net Income 2,113,600.61 2,113,600.61 4,227,201.22
Total 12,151,760.76 12,151,760.76 24,303,521.51
Less: Withdrawals 739,760.21 739,760.21 1,479,520.43
Ending Balance 11,412,000.54 11,412,000.54 22,824,001.09
Year 5  
Beginning Balance 11,412,000.54 11,412,000.54 22,824,001.09
Add: Share in Net Income 2,280,539.72 2,280,539.72 4,561,079.44
Total 13,692,540.26 13,692,540.26 27,385,080.53
Less: Withdrawals 798,188.90 798,188.90 1,596,377.80
Ending Balance ₱12,894,351.36 ₱12,894,351.36 ₱25,788,702.72

EXHIBIT 2
Projected Statement of Cash Flows
Operating Activities Year 1 Year 2 Year 3 Year 4 Year 5

Net Income 3,291,612 3,603,539 3,908,233 4,227,201 4,561,079

Depreciation 425,378.93 425,378.93 425,378.93 425,378.93 425,378.93

Factory Depreciation 9,216.25 9,216.25 9,216.25 9,216.25 9,216.25

Increase in Inventory - 151,073.68 - 7,553.68 - 7,931.37 - 8,327.94 - 8,744.33
- -
Increase (Decrease) in Refundable Input Vat - 15,911.53 795.58 835.36 - 877.12 - 920.98

Increase in Income Tax Payable 274,300.98 25,993.90 25,391.22 26,580.67 27,823.18

Increase in SSS/PHIC/HDMF Payable 44,613.60        

Cash Flow provided by Operating Activities 3,878,136.28 4,055,778.39 4,359,452.86 4,679,172.01 5,013,832.49
           
Investing Activities          
Land 500,000        
Building 8,250,000.00        
Machinery and Equipment 1,257,109.82        
Furnitures and fixtures 73,214.29        
Cash Flow used by Investing Activities - 10,080,324.11 - - - -
           
Financing Activities          
Investment from Owner 13,054,121.02        
Withdrawal 1,152,064.11 1,261,238.50 1,367,881.62 1,479,520.43 1,596,377.80
Cash Flow provided by Financing Activities 11,902,056.91 (1,261,238.50) (1,367,881.62) (1,479,520.43) (1,596,377.80)
Net Change in Cash Flows 5,699,869.08 2,794,539.89 2,991,571.25 3,199,651.58 3,417,454.69
Beginning Cash Balance   5,699,869.08 8,494,408.97 11,485,980.22 14,685,631.80
 Ending Cash Balance 5,699,869.08 8,494,408.97 11,485,980.22 14,685,631.80 18,103,086.49

Exhibit 2
Projected Statement of Financial Position
ASSETS Schedule Year 1 Year 2 Year 3 Year 4 Year 5
Current Assets            
Cash   5,699,869.08 8,494,408.97 11,485,980.22 14,685,631.80 18,103,086.49

Direct Materials Inventory   151,073.68 158,627.37 166,558.74 174,886.67 183,631.01

Refundable Input Vat   15,911.53 16,707.11 17,542.46 18,419.59 19,340.57
Total Current Assets   5,866,854.30 8,669,743.45 11,670,081.42 14,878,938.06 18,306,058.06
Non-current Assets            

Land   500,000.00 500,000.00 500,000.00 500,000.00 500,000.00

Building   8,250,000.00 8,250,000.00 8,250,000.00 8,250,000.00 8,250,000.00
Accumulated Depreciation   - 330,000.00 - 660,000.00 - 990,000.00 - 1,320,000.00 - 1,650,000.00
Machinery and Equipment   1,257,109.82 1,257,109.82 1,257,109.82 1,257,109.82 1,257,109.82
Accumulated Depreciation   - 89,952.32 - 179,904.64 - 269,856.96 - 359,809.29 - 449,761.61
Furnitures & Fixtures   73,214.29 73,214.29 73,214.29 73,214.29 73,214.29
-
Accumulated Depreciation   - 14,642.86 29,285.71 - 43,928.57 - 58,571.43 - 73,214.29
Total Non-Current Assets   9,645,728.93 9,211,133.75 8,776,538.57 8,341,943.39 7,907,348.21
Total Assets   15,512,583.23 17,880,877.20 20,446,619.99 23,220,881.45 26,213,406.28
LIABILITIES            
Current Liabilities            

Income Tax Payable   274,300.98 300,294.88 325,686.10 352,266.77 380,089.95

SSS/PHIC/PAG-IBIG Payable   44,613.60 44,613.60 44,613.60 44,613.60 44,613.60

Total Current Liabilities   318,914.58 344,908.48 370,299.70 396,880.37 424,703.55

EQUITY            
Lare, Capital   7,596,834.33 8,767,984.36 10,038,160.15 11,412,000.54 12,894,351.36
Lare, Capital   7,596,834.33 8,767,984.36 10,038,160.15 11,412,000.54 12,894,351.36
Total Partner's Equity   15,193,668.65 17,535,968.72 20,076,320.29 22,824,001.09 25,788,702.72
Total Liabilities & Partner's Equity   15,512,583.23 17,880,877.20 20,446,619.99 23,220,881.45 26,213,406.28

Ratio Analysis

Current Ratio

YEAR Current Assets Current Liabilities Ratio

Year 1 5,866,854.30 318,914.58 18.40

Year 2 8,669,743.45 344,908.48 25.14

Year 3 11,670,081.42 370,299.70 31.52

Year 4 14,878,938.06 396,880.37 37.49

Year 5 18,306,058.06 424,703.55 43.10

 Current Ratio
20,000,000.00
18,000,000.00
16,000,000.00
14,000,000.00
12,000,000.00
10,000,000.00
8,000,000.00
6,000,000.00
4,000,000.00
2,000,000.00
-
Year 1 Year 2 Year 3 Year 4 Year 5

Current Assets Current Liabilities Ratio

Debt Equity Ratio

YEAR Total Liabilities Partner's Equity Ratio
Year 1 318,914.58 15,193,668.65 0.02
Year 2 344,908.48 17,535,968.72 0.02
Year 3 370,299.70 20,076,320.29 0.02
Year 4 396,880.37 22,824,001.09 0.02
Year 5 424,703.55 25,788,702.72 0.02
 Debt to Equity Ratio
30,000,000.00

25,000,000.00

20,000,000.00

15,000,000.00

10,000,000.00

5,000,000.00

-
Year 1 Year 2 Year 3 Year 4 Year 5

Total Liabilities Partner's Equity Ratio

Total Asset Turnover

YEAR Revenue Total Assets Ratio

Year 1 16,265,600.00 15,512,583.23 1.05

Year 2 17,078,880.00 17,880,877.20 0.96

Year 3 17,932,824.00 20,446,619.99 0.88

Year 4 18,829,465.20 23,220,881.45 0.81

Year 5 19,770,938.46 26,213,406.28 0.75

 Total Assets Turnover
30,000,000.00
25,000,000.00
20,000,000.00
15,000,000.00
10,000,000.00
5,000,000.00
-
Year 1 Year 2 Year 3 Year 4 Year 5

Revenue Total Assets Ratio

Return on Assets
YEAR Net Income Total Assets Ratio
Year 1 4,388,815.65 15,512,583.23 0.28
Year 2 4,804,718.09 17,880,877.20 0.27
Year 3 5,210,977.58 20,446,619.99 0.25
Year 4 5,636,268.30 23,220,881.45 0.24
Year 5 6,081,439.25 26,213,406.28 0.23
 Return on Assets
30,000,000.00
25,000,000.00
20,000,000.00
15,000,000.00
10,000,000.00
5,000,000.00
-
Year 1 Year 2 Year 3 Year 4 Year 5

Net Income Total Assets Ratio

Return on Equity
YEAR Net Income Partners Equity Ratio
Year 1 3,291,611.74 15,193,668.65 0.22
Year 2 3,603,538.57 17,535,968.72 0.21
Year 3 3,908,233.19 20,076,320.29 0.19
Year 4 4,227,201.22 22,824,001.09 0.19
Year 5 4,561,079.44 25,788,702.72 0.18
 Return on Investment
30,000,000.00

25,000,000.00

20,000,000.00

15,000,000.00

10,000,000.00

5,000,000.00

-
Year 1 Year 2 Year 3 Year 4 Year 5

Net Income Partners Equity Ratio

Return on Revenue
YEAR Operating Income Revenue Ratio
Year 1 20,525,467.06 16,265,600.00 1.26
Year 2 3,603,538.57 17,078,880.00 0.21
Year 3 3,908,233.19 17,932,824.00 0.22
Year 4 4,227,201.22 18,829,465.20 0.22
Year 5 4,561,079.44 19,770,938.46 0.23
 Return on Revenue
25,000,000.00

20,000,000.00

15,000,000.00

10,000,000.00

5,000,000.00

-
Year 1 Year 2 Year 3 Year 4 Year 5

Operating Income Revenue Ratio

Quick Ratio
YEAR Quick Asset Current Liabilities Ratio
Year 1 5,715,780.62 318,914.58 17.92
Year 2 8,511,116.08 344,908.48 24.68
Year 3 11,503,522.68 370,299.70 31.07
Year 4 14,704,051.39 396,880.37 37.05
Year 5 18,122,427.05 424,703.55 42.67
 Quick Ratio
20,000,000.00
18,000,000.00
16,000,000.00
14,000,000.00
12,000,000.00
10,000,000.00
8,000,000.00
6,000,000.00
4,000,000.00
2,000,000.00
-
Year 1 Year 2 Year 3 Year 4 Year 5

Quick Asset Current Liabilities Ratio

Debt-Total Asset Ratio

YEAR Debt Total Asset Ratio

Year 1 318,914.58 15,512,583.23 0.021

Year 2 344,908.48 17,880,877.20 0.019

Year 3 370,299.70 20,446,619.99 0.018

Year 4 396,880.37 23,220,881.45 0.017

Year 5 424,703.55 26,213,406.28 0.016

 Debt to Total Assets Ratio
30,000,000.00

25,000,000.00

20,000,000.00

15,000,000.00

10,000,000.00

5,000,000.00

-
Year 1 Year 2 Year 3 Year 4 Year 5

Debt Total Asset Ratio

Debt to Equity Ratio

YEAR Debt Partner's Equity Ratio

Year 1 318,914.58 15,193,668.65 0.021

Year 2 344,908.48 17,535,968.72 0.020
Year 3 370,299.70 20,076,320.29 0.018
Year 4 396,880.37 22,824,001.09 0.017

Year 5 424,703.55 25,788,702.72 0.016

 Debt to Equity Ratio
30,000,000.00

25,000,000.00

20,000,000.00

15,000,000.00

10,000,000.00

5,000,000.00

-
Year 1 Year 2 Year 3 Year 4 Year 5

Debt Partner's Equity Ratio

Equity Multiplier
YEAR Total Asset Partner's Equity Ratio
Year 1 15,512,583.23 15,193,668.65 1.02
Year 2 17,880,877.20 17,535,968.72 1.02
Year 3 20,446,619.99 20,076,320.29 1.02
Year 4 23,220,881.45 22,824,001.09 1.02
Year 5 26,213,406.28 25,788,702.72 1.02
 Equity Multiplier
30,000,000.00
25,000,000.00
20,000,000.00
15,000,000.00
10,000,000.00
5,000,000.00
-
Year 1 Year 2 Year 3 Year 4 Year 5

Total Asset Partner's Equity Ratio

Payback Period
YEAR Annual Cash Flow Unrecovered Cost Payback
0   13,054,121.02  
1 3,878,136.28 9,175,984.74 1
2 4,055,778.39 5,120,206.36 1
3 4,359,452.86 760,753.50 1
4 4,679,172.01 - 0.162583
5      
*it requires 3.16 years or 3 year and 2 months to recoup the initial cost of a project or investment.

Schedule 1: Projected Manufacturing Revenue

MANUFACTURING REVENUE

Particulars Annual Capacity Price Total

Pickled Mango 95,680 170 16,265,600

TOTAL     16,265,600.00

Schedule 2: Projected Annual Cost of Sales

YEAR 1-5

Product Annual Capacity Product Cost per Unit Annual Cost of Goods Sold
 Pickled Mango 95,680.00 80.55 7,707,315.60

2.1 Product Cost per Unit (Year 1-5)

Particulars RM per Unit Direct Labor Manufacturing Overhead per Unit TOTAL

Cost per Unit 35.06 11.97 33.5232 80.55

2.2 Raw Materials Inventory

Total
No. of bottles of Cost exclusive
Particular Qty. Price Cost of Cost per bottle VAT
pickled mango of VAT
RM
Mango (in kg) 1 90 90 3 30.00   30.00
Chili Powder (per pack) 1 50 50 30 1.67 0.18 1.49
Vinegar (per gallon) 1 100 100 40 2.50 0.27 2.23
Salt (per pack) 1 25 25 50 0.50 0.05 0.45
Pepper (per pack) 1 20 20 20 1.00 0.11 0.89
            0.61  
2.2 Raw materials per bottle 35

2.3 Direct Labor

13
No. of Rate Per Monthly Annual Total Salaries SSS PhilHealt
Position Month PAG-IBIG (ER)
EE Day Salary Salary Expense (ER) h (ER)
Pay
₱967,680.0 ₱1,048,320.0
10,080 80,640 92160 2419.2 2419.2
Production Personnel 8 336 0 0
₱1,145,318.4
Total
0
Divided by Annual
                95,680.00
Capacity
Direct Labor Cost per tub                 ₱11.97

2.4 Manufacturing Overhead (Machinery Equipment)

Factory Depreciation Expense
Factory
Factory
Particular Cost QTY Total Cost Useful Life Depreciatio          
depreciation
n
Pickled 46,08
92,163 9,216
Machine 1 2 10 9,216
Factory Utilities
 Watt Daily Utilities
Yearly
per Operatin Daily Total Rat Usag Monthly VAT Exclusive of
Usage
Particulars Qty. Hr. g Hr. Usage Kilowats e e Usage VAT
2 1,500 8 72
Pickled 9 648 19,440.0 233,280.0
24,000.00 24,994.29 208,285.71
Machine 0 0

Indirect Input VAT          

Materials Cost QTY Total Cost Cost Exc. Of VAT
35 3348800
Jar (per 95,68 358,800.0          
2,990,000.00
bottle) 0 0 2,990,000.00
Total Manufacturing Overhead 3,207,502
Divided By Annual Capacity 95,680.00
Manufacturing Overhead per Unit 33.52

Schedule 3: Projected Salary Expense

 No. of Rate Per Total Salaries
Position Monthly Salary Annual Salary 13 Month Pay
EE Day Expense

Manager 1 500 ₱15,000.00 ₱180,000.00 ₱15,000.00 ₱195,000.00

Accounting Clerk 1 368 ₱11,040.00 ₱132,480.00 ₱11,040.00 ₱143,520.00
Machine Operator 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
Packing Personnel 3 336 ₱30,240.00 ₱362,880.00 ₱30,240.00 ₱393,120.00
Registered Dietitian Nutritionist 1 450 ₱13,500.00 ₱162,000.00 ₱13,500.00 ₱175,500.00
Security Guard 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
Production Supervisor 1 450 ₱13,500.00 ₱162,000 ₱13,500.00 ₱175,500.00
Storage Personnel 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
Quality Assurance Inspector 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
TOTAL 12 3,112 163,920 1,967,040.00 163,920.00 2,130,960

Schedule 4: Projected SSS, PhilHealth, & Contribution

Position No. of Rate Per Monthly EMPLOYER'S SHARE

 Monthly Monthly PHILHEALT Monthly
EE Day Salary SSS HDMF
Annual Annual H Annual

Manager 1 500 ₱15,000.00 ₱1,425.00 ₱17,100.00 ₱300.00 ₱3,600.00 ₱450.00 ₱5,400.00

Accounting Clerk 1 368 ₱11,040.00 ₱1,048.80 ₱12,585.60 ₱220.80 ₱2,649.60 ₱331.20 ₱3,974.40
Machine Operator 1 336 ₱10,080.00 ₱957.60 ₱11,491.20 ₱201.60 ₱2,419.20 ₱302.40 ₱3,628.80
Packing Personnel 3 336 ₱30,240.00 ₱2,872.80 ₱34,473.60 ₱604.80 ₱7,257.60 ₱907.20 ₱10,886.40
RDN 1 450 ₱13,500.00 ₱1,282.50 ₱15,390.00 ₱270.00 ₱3,240.00 ₱405.00 ₱4,860.00
Security Guard 2 336 ₱20,160.00 ₱1,915.20 ₱22,982.40 ₱403.20 ₱4,838.40 ₱604.80 ₱7,257.60

Production Supervisor 1 450 13500 1,282.50 15,390.00 ₱270.00 3,240.00 ₱405.00 4,860.00

Storage Personnel 2 336 20160 1,915.20 22,982.40 ₱403.20 4,838.40 ₱604.80 7,257.60
Quality Assurance
Inspector 2 336 20160 1,915.20 22,982.40 ₱403.20 4,838.40 ₱604.80 7,257.60
₱14,614.8 ₱175,377.6 ₱3,076.8 ₱4,615.2
      ₱36,921.60 ₱55,382.40
TOTAL 0 0 0 0
₱289,988.4
GRAND TOTAL 0

Schedule 5: Projected Supplies Expense

 Supplies Expense

Supplies Quantity Unit Cost Total Vat Cost Exclusive of VAT

Ballpoint Pen 1 Box ₱125 125 13.39 111.61

Calculator 1 ₱120 120 12.86 107.14

Ink Bottle 2 ₱500 1,000 107.14 892.86

Printing Papers 2 Ream ₱210 420 45.00 375.00

Record Book 1 ₱80 80 8.57 71.43

Scissors 2 ₱20 40 4.29 35.71

Staplers 2 ₱80 160 17.14 142.86

Waste Buckets 2 ₱50 100 10.71 89.29

Total     2,045.00 219.11 1,825.89

Schedules 6: Projected Utilities Expense

 Watt Total Daily Utilities
Yearly
Qty per Operatin Daily Kilowat Rat Usag Monthly VAT Exclusive of
Usage
Particulars . Hr. g Hr. Usage s e e Usage VAT
277,7
2,00 16,000.0 9 864 25,920.0 311,040.0
33,325.71 14.29
Generator 1 0 8 0 96 0 0
1,20 27,7
9 86.4
Telephone 1 0 8 9,600.00 9.6 2,592.00 31,104.00 3,332.57 71.43
18,5
9 57.6
Wi-Fi Modem 1 400 8 3,200.00 6.4 1,728.00 20,736.00 2,221.71 14.29
23,1
1,00 16,000.0 9 72
2,160.00 25,920.00 2,777.14 42.86
ABC Fire Extinguisher 2 0 8 0 8.0
1,4
9 4.5
Air condition 1 15 8 120.00 0.5 135.00 1,620.00 173.57 46.43
20,8
9 64.8
CCTV 3 300 8 7,200.00 7.2 1,944.00 23,328.00 2,499.43 28.57
23,7
9 73.8
Computer Set 2 10 8 160.00 8.2 2,214.00 26,568.00 2,846.57 21.43
2,3
9 7.2
Printer 1 100 8 800.00 0.8 216.00 2,592.00 277.71 14.29
395,4
Total Electricity 442,908.0
47,454.43 53.57
Consumption                 0
Total Water 7714.285 64,2
              6,000 72,000
Consumption 7 85.71
459,7
Total                 514,908
55,168.71 39.29
Schedule 7: Projected Advertising Expense

Particulars Quantity Unit Cost Cost per Month Input Vat Advertising Expense Exclusive of VAT

Online Advertising 5 2,000 10,000.00 1,071 8,928.57

TOTAL          8,928.57
Schedule 8: Projected Business Permits

Business Permits and Licenses

Particulars Total

Locational Clearance 6,000.00

Fire Safety Clearance 8,000.00

Preparation and Printing of Plans 80,000.00

Community tax
500.00

Civil Engineer's Fee for supervision 2,000.00

Building Permit Fee 10,000.00

City Tax 35,000.00

Total 141,500.00
Schedule 9: Projected Repairs & Maintenance

REPAIRS & MAINTENANCE

Particulars QTY Cost VAT

Forward Truck Van 1 1,200,000.00  

Generator 1 40,000.00  

Pickled Machine 2 51,611.00  

Telephone 1 700.00  

Wi-Fi Modem 1 2,000.00  

ABC Fire Extinguisher 2 6,000.00  

Air Conditioner 1 17,990.00  

CCTV 3 1,250.00  

Computer Set 2 16,000.00  

Printer 1 6,000.00  

Total   1,341,551.00  

Multiply by   5%  

Total   67,077.55 7,186.88

Schedule 10: Projected Export Cost Expense

Working Capital- Export Cost Expense

Particular Frequency (Quarterly Basis) Cost VAT (12%) TOTAL COST

Export Documentation Clearance ₱36,000 ₱4,320 ₱40,320

Terminal Handling Fee ₱34,200 ₱4,104 ₱38,304

Export Duties and Taxes ₱2,450,000 ₱294,000 ₱2,744,000

Freight Cost (1x20) 1 ₱84,825 ₱10,179 ₱95,004

Total   ₱2,605,025 ₱267,603 ₱2,872,628

Divided By   4 Quarter 4 Quarter 4 Quarter

TOTAL   651,257.00 ₱66,901.00 ₱718,157
Schedule 11: Projected Depreciation Expense

Particular Cost QTY Total Cost Useful Life Depreciation Expense

Machinery & Equipment

Forward Truck Van 1,071,429 1 1,071,429 15 71,429
Generator 35,714 1 35,714 10 3,571
Total     1,107,144   75,000.06
Office Equipment          
ABC Fire Extinguisher 1,027 2 2,054 12 171
Air Conditioner 16,063 1 16,063 15 1,071
CCTV 1,116 3 3,348 5 670
Computer Set 14,286 2 28,571 10 2,857
Printer 5,357 1 5,357 10 536
Telephone 625 1 625 3 208
Wi-Fi Modem 1,786 1 1,786 8 223
Total     57,803.57   5,736.01
Furniture And Fixtures          
Office Table 2,679 6 16,071.43 5 3,214.29
Office Desktop 893 3 2,678.57 5 535.71
Office Cabinet 1,250 5 6,250.00 5 1,250.00
Officer Chair 1,339 10 13,392.86 5 2,678.57
Display Cabinets 7,143 2 14,285.71 5 2,857.14
Sala Sets 20,536 1 20,535.71 5 4,107.14
Total     73,214   14,642.86
Building 8,250,000.00 1 8,250,000.00 25 330,000.00
TOTAL     9,488,161.61   425,378.93
Schedule 12: Projected Refundable Input VAT

Refundable Input Vat

Particular Year1 Year2 Year3 Year4 Year5
Output Vat on zero rated sales 0 0 0 0 0
Less: Creditable/Refundable Input VAT          
Input VAT on Raw Materials - Mango Exempt Exempt Exempt Exempt Exempt
Input VAT on Raw Materials - Others 61,148.87 64,206.32 67,416.63 70,787.46 74,326.84
OPEX          
Supplies Expense 219.11 230.06 241.57 253.64 266.33
Advertising Expense 1,071.43 1,125.00 1,181.25 1,240.31 1,302.33
Utilities Expense 55,168.71 57,927.15 60,823.51 63,864.68 67,057.92
Repairs and Maintenance 7,186.88 7,546.22 7,923.54 8,319.71 8,735.70
Capital Assets          
Building 990,000        
Machinery and Equipment 143,916.75        
Office Equipment 6,936.43        
Furniture and Fixtures 8,785.71        
Refundable Input VAT 1,213,285.02 66,828.44 70,169.86 73,678.35 77,362.27
Refundable Input VAT - Beg   15,911.53 16,707.11 17,542.46 18,419.59
Total 1,213,285.02 82,739.97 86,876.97 91,220.82 95,781.86

Claimed amount - (1st to 3rd quarters) 1,197,373.49 66,032.86 69,334.50 72,801.23 76,441.29

Refundable Input Vat 15,911.53 16,707.11 17,542.46 18,419.59 19,340.57

*related input VAT on capital goods acquired in 2022 may be fully recognized outright and be claimed as input tax credits against output tax
during the month when the capital goods are purchased or imported, regardless of whether the aggregate acquisition cost in a calendar month
exceeds P1 million.
Schedule 13: Projected Materials Inventory

Raw Materials Inventory

Mango
  Year 1 Year 2 Year 3 Year 4 Year 5
Beginning Inventory 174,886.67
755,368.42 151,073.68 158,627.37 166,558.74

Purchases 2,266,105.2 3,497,733.47

3,021,473.68 3,172,547.37 3,331,174.74
6
Direct Materials Available for
3,021,473.6 3,672,620.15
Use 3,172,547.37 3,331,174.74 3,497,733.47
8

Raw Materials Used 2,870,400.0 3,488,989.14

3,013,920.00 3,164,616.00 3,322,846.80
0
Ending Inventory 183,631.01
151,073.68 158,627.37 166,558.74 174,886.67
Schedule 14: Projected Land

Land

  Cost

Land 500,000
Schedule 15: Projected Building
Project: PROPOSED ONE STOREY PRODUCTION BUILDING
Owner: LARA MAE VERANA
Location: MALANDAG MALUNGON, SARANGANI PROVINCE
Floor Area 550  
Description Amount VAT
I Excavation and Embankment ₱264,000.00 ₱28,285.71
II Structural Works ₱2,574,000.00 ₱275,785.71
III Architectural Works ₱1,122,000.00 ₱120,214.29
IV Masonry Works ₱462,000.00 ₱49,500.00
V Interior and Exterior Painting Works ₱462,000.00 ₱49,500.00
VI Structural Steel and Roofing works ₱660,000.00 ₱70,714.29
VII Electrical Works ₱330,000.00 ₱35,357.14
VIII Sanitary and Plumbing ₱726,000.00 ₱77,785.71
Total Material Cost ₱6,600,000.00 ₱707,142.86
Labor Works ₱2,640,000.00 ₱282,857.14
TOTAL ₱9,240,000.00 ₱990,000.00
TOTAL COST EXCLUSIVE OF VAT   ₱8,250,000.00
Schedule 16: Projected Machinery Cost
Machinery and Equipment
Particular Unit Cost QTY Total Cost Vat Cost exclusive of VAT
1,200,00
₱ 1,200,001.00 ₱128,571.54 ₱ 1,071,429.46
Forward Truck Van 0 1
Generator 40,000 1 ₱ 40,000.00 ₱4,285.71 ₱ 35,714.29
51,611.0
₱ 103,222.00 ₱11,059.50 ₱ 92,162.50
Pickled Machine 0 2
Total     ₱ 1,343,223.00 ₱143,916.75 ₱ 1,199,306.25

 
Office Equipment
Particular Unit Cost QTY Total Cost Vat Cost exclusive of VAT

ABC Fire Extinguisher 1,150 2 2,300 246.4285714 ₱ 2,053.57

Air Conditioner 17,990 1 17,990 1927.5 ₱ 16,062.50

CCTV 1,250.00 3 3,750 401.7857143 ₱ 3,348.21

Computer Set 16,000 2 32,000 3428.571429 ₱ 28,571.43

Printer 6,000 1 6,000 642.8571429 ₱ 5,357.14

Telephone 700 1 700 75 ₱ 625.00

Wi-Fi Modem 2,000 1 2,000 214.2857143 ₱ 1,785.71

Total     64,740 6936.428571 ₱ 57,803.57

₱
Total Machinery and Equipment     ₱ 1,407,963.00 ₱ 1,257,109.82
150,853.18
Schedule 17: Projected Furniture and Fixtures

Furniture and Fixtures

VAT Cost Exclusive of VAT
Particular Unit Cost QTY Total Cost
₱3,000.00 6 ₱1,929 ₱16,071
Office Table ₱18,000
₱1,000.00 3 ₱321 ₱2,679
Office Desktop ₱3,000
₱1,400.00 5 ₱750 ₱6,250
Office Cabinet ₱7,000
₱1,500.00 10 ₱1,607 ₱13,393
Office Chair ₱15,000
₱8,000.00 2 ₱1,714 ₱14,286
Display Cabinets ₱16,000
₱23,000.00 1 ₱2,464 ₱20,536
Sala Sets ₱23,000
₱8,786 ₱73,214
Total     ₱82,000
Schedule 18: Projected Accumulated Depreciation
ACCUMULATED DEPRECIATION  
Usefu Depreciation
Particular Total Cost Accumulated Depreciation
l Life Expense
Machinery & Equipment Year 1 Year 2 Year 3 Year 4 Year 5
Forward Truck Van 1,071,429 15 71,429          
Pickled Mango
92,163 10 9,216    
Machine
Generator 35,714 10 3,571    
1,199,306 84,216.31 252,648.93 336,865.24
Total   84,216.31 168,432.62 421,081.55
Office Equipment          
ABC Fire Extinguisher 2,054 12 171    
Air Conditioner 16,063 15 1,071    
CCTV 3,348 5 670    
Computer Set 28,571 10 2,857    
Printer 5,357 10 536    
Telephone 625 3 208    
Wi-Fi Modem 1,786 8 223    
28680.0595
57,804 5736.0119 11472.02381 17208.03571 22944.04762
Total   5,736.01 2
Furniture and
     
Fixtures    
Office Table 16,071 5 3,214.29    
Office Desktop 2,679 5 535.71    
Office Cabinet 6,250 5 1,250.00    
Officer Chair 13,393 5 2,678.57    
Display Cabinets 14,286 5 2,857.14    
Sala Sets 20,536 5 4,107.14    
73214.2857
73,214 14642.8571 29285.71429 43928.57143 58571.42857
Total   14,642.86 1
Building 8,250,000 25 330,000.00 330000 660000 990000 1320000 1650000
434,595.1 2172975.89
TOTAL 9,580,324 434595.179 869190.3571 1303785.536 1738380.714
  8 3
Schedule 19: Projected SSS, PhilHealth, HDMF Payable

SSS, PhilHealth, HDMF Payable

EMPLOYER'S SHARE EMPLOYEE'S SHARE
No. of Rate Per Monthly Monthl
Position Monthly Monthly Monthly Monthly
EE Day Salary y Monthly Annual
Annual Annual Annual Annual
Annual
₱1,425.0 ₱1,425.0
₱450.00
Manager 1 500 ₱15,000.00 0 ₱300.00 ₱450.00 0 ₱300.00
₱1,048.8 ₱1,048.8
₱331.20
Accounting Clerk 1 368 ₱11,040.00 0 ₱220.80 ₱331.20 0 ₱220.80
Machine Operator 1 336 ₱10,080.00 ₱957.60 ₱201.60 ₱302.40 ₱957.60 ₱201.60 ₱302.40
₱2,872.8 ₱2,872.8
₱907.20
Packing Personnel 3 336 ₱30,240.00 0 ₱604.80 ₱907.20 0 ₱604.80
₱1,282.5 ₱1,282.5
₱405.00
RDN 1 450 ₱13,500.00 0 ₱270.00 ₱405.00 0 ₱270.00
₱1,915.2 ₱1,915.2
₱604.80
Security Guard 2 336 ₱20,160.00 0 ₱403.20 ₱604.80 0 ₱403.20
₱1,282.5 ₱1,282.5
₱405.00
Operation Supervisor 1 450 ₱13,500.00 0 ₱270.00 ₱405.00 0 ₱270.00
₱1,915.2 ₱1,915.2
₱604.80
Storage Personnel 2 336 ₱20,160.00 0 ₱403.20 ₱604.80 0 ₱403.20
Quality Assurance ₱1,915.2 ₱1,915.2
₱604.80
Inspector 2 336 ₱20,160.00 0 ₱403.20 ₱604.80 0 ₱403.20
 14,614.8 3,076. 4,615. 14,614.8 3,076.
4,615.20
Total       0 80 20 0 80
TOTAL                 44,613.60

Schedule 20: Projected Income Tax Payable

  Year 1 Year 2 Year 3 Year 4 Year 5

Income before tax 4,388,815.65 4,804,718.09 5,210,977.58 5,636,268.30 6,081,439.25

Rate 25% 25% 25% 25% 25%

Income Tax Expense 1,097,203.91 1,201,179.52 1,302,744.40 1,409,067.07 1,520,359.81

Less: Income Tax Payment

(1st to 3rd Quarter) 822,902.93 900,884.64 977,058.30 1,056,800.31 1,140,269.86

Income Taxes Payable 274,300.98 300,294.88 325,686.10 352,266.77 380,089.95

Schedule 21: WC Supplies Expense

WC - Supplies Expense
Supplies Quantity Unit Cost Total Input Vat
Ballpoint Pen 1 125 125 13.39285714
Calculator 1 120 120 12.85714286
Ink Bottle 2 500 1000 107.1428571
Printing Papers 2 210 420 45
Record Book 1 80 80 8.571428571
Scissors 2 20 40 4.285714286
Staplers 2 80 160 17.14285714
Waste Buckets 2 50 100 10.71428571

TOTAL SUPPLIES 2045 219.1071429

Multiplied by:     3 mos  

Divided by:     12 mos  

54.77678571
Total 511.25

Schedule 22: WC- Salary Expense

WC- SALARY EXPENSE            

Monthly 13th Month Salaries
Position No. of EE Rate Per Day Annual Salary
Salary Pay Expense
Manager 1 500 ₱15,000.00 ₱180,000.00 ₱15,000.00 ₱195,000.00
Accounting Clerk 1 368 ₱11,040.00 ₱132,480.00 ₱11,040.00 ₱143,520.00
Machine Operator 1 336 ₱10,080.00 ₱120,960.00 ₱10,080.00 ₱131,040.00
Packing Personnel 3 336 ₱30,240.00 ₱362,880.00 ₱30,240.00 ₱393,120.00
RDN 1 450 ₱13,500.00 ₱162,000.00 ₱10,080.00 ₱172,080.00
Security Guard 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
Production Supervisor 1 450 ₱13,500.00 ₱162,000.00 ₱13,500.00 ₱175,500.00
Storage Personnel 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
Production Personnel 9 336 ₱90,720.00 ₱1,088640. ₱90,720.00 ₱1,734,420
Quality Assurance Inspector 2 336 ₱20,160.00 ₱241,920.00 ₱20,160.00 ₱262,080.00
Total           ₱1,734,420.00
Multiply by:           3 mos
Divided by:           12 mos
Total           ₱433,605.00

Schedule 23: WC- SSS, PhilHealth, HDMF

EMPLOYER'S SHARE
No. of Rate Per Monthly
Position Monthly Monthly PHILHEALT Monthly
EE Day Salary SSS HDMF
Annual Annual H Annual

Manager 1 500 ₱15,000.00 ₱1,425.00 ₱17,100.00 ₱600.00 ₱7,200.00 ₱300.00 ₱3,600.00

Accounting Clerk 1 368 ₱11,040.00 ₱1,048.80 ₱12,585.60 ₱441.60 ₱5,299.20 ₱220.80 ₱2,649.60
Machine Operator 1 336 ₱10,080.00 ₱957.60 ₱11,491.20 ₱403.20 ₱4,838.40 ₱201.60 ₱2,419.20
₱1,209.6
Packing Personnel 3 336 ₱30,240.00 ₱2,872.80 ₱34,473.60 0 ₱14,515.20 ₱604.80 ₱7,257.60
RDN 1 450 ₱13,500.00 ₱1,282.50 ₱15,390.00 ₱540.00 ₱6,480.00 ₱270.00 ₱3,240.00
Security Guard 2 336 ₱20,160.00 ₱1,915.20 ₱22,982.40 ₱806.40 ₱9,676.80 ₱403.20 ₱4,838.40
Production Supervisor 1 450 ₱13,500.00 ₱1,282.50 ₱15,390.00 ₱540.00 ₱6,480.00 ₱270.00 ₱3,240.00
Storage Personnel 2 336 ₱20,160.00 ₱1,915.20 ₱22,982.40 ₱806.40 ₱9,676.80 ₱403.20 ₱4,838.40
 ₱3,628.8 ₱21,772.8
Production Personnel 9 336 ₱90,720.00 ₱8,618.40 ₱103,420.80 0 ₱43,545.60 ₱1,814.40 0
Quality Assurance
Inspector 2 336 ₱20,160.00 ₱1,915.20 ₱22,982.40 ₱806.40 ₱9,676.80 ₱403.20 ₱4,838.40

278,798.4 117,388.8 58,694.4

     
0 0 0
Total      
          X1/12   X1/12   X1/12

Payable         23,233.20   9,782.40   4,891.20

Multiply by:         3mos   3mos   3mos
Divided by:         12 mos   12 mos   12 mos

Total         69,699.60   29,347.20   14,673.60

113,72
Grand Total         0.40

REPAIRS & MAINTENANCE

Particulars QTY Cost VAT
Forward Truck Van 1 1,200,000.00 128,571.43
Generator 1 40,000.00 4,285.71
Pickled Machine 2 51,611.00 5,529.75
Telephone 1 700.00 75.00
Wi-Fi Modem 1 2,000.00 214.29
ABC Fire Extinguisher 2 6,000.00 642.86
Air Conditioner 1 17,990.00 1,927.50
CCTV 3 1,250.00 133.93
Computer Set 2 16,000.00 1,714.29
Printer 1 6,000.00 642.86
Total   1,341,511.00 143,733.32
Multiply by   5%  
Total   67,075.55 7,186.67
Multiply by:   3 mos  
Divided by:   12 mos  
Total   16,768.89 1,796.67
Schedule 24: WC- Repairs and Maintenance

Schedule 25: WC- Advertising Expense

WC - Advertising Expense

Quantity Unit Cost Cost per Month VAT

Particulars
5 2,000 10,000.00
Online Advertisement 1,071
Total     10,000.00 1,071.43

Multiply by:     3 mos  

Divided by:     12 mos  

Total     2,500.00 267.86