Statements of Operations
As at December 31, 2017 and 2016
From the report of independent auditors Roxas Cruz Tagle and Co. (formerly Alba, Romeo and Co.)
| 2017 | 2016 | |
|---|---|---|
| Income | Php 29,213,520 | Php 13,594,528 |
| Expenses | ||
| Project Expenses | 23,195,688 | 10,025,176 |
| Administrative Expenses | 2,905,920 | 2,371,070 |
| Total Expenses | 26,101,608 | 12,396,246 |
| Excess of income over expenses | Php 3,111,912 | Php 1,198,282 |
Statements of Financial Position
As at December 31, 2017 and 2016
| 2017 | 2016 | |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | Php 6,008,958 | Php 4,736,570 |
| Project receivables | 3,688,009 | 4,142,388 |
| lnventories | 3,195,662 | 2,935,579 |
| Total current assets | 12,892,629 | 11,814,537 |
| Noncurrent Assets | ||
| Property and equipment, net | 6,665,432 | 4,442,906 |
| Intangible asset, net | 25,083 | 33,683 |
| Other noncurrent assets | 345,379 | 244,199 |
| Total noncurrent assets | 7,035,894 | 4,720,788 |
| TOTAL ASSETS | Php 19,928,523 | Php 16,535,325 |
| LIABILITY AND FUND BALANCE | ||
| Current liability | ||
| Accruals and government laibilities | Php 417,491 | Php 136,205 |
| Fund balance | 19,511,032 | 16,399,120 |
| TOTAL LIABILITY AND FUND BALANCE | Php 19,923,523 | Php 16,535,325 |
