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Horizontal Analysis

Plasseins Company
Comparative Statement of Financial Position
December 31, 2017, 2018, 2019, 2020 and 2021
Horizontal Analysis
Increase (Decrease)
2018 2019 2020 2021
Amount % Amount % Amount % Amount %
ASSETS
Current Assets:
Cash 504,674.81 31% 434,974.71 21% 449,438.90 18% 499,630.79 16%
8,865.0 8,854.3
Raw Materials Inventory 88,972.95 51% - 6,959.05 -4% 1 5% 3 5%
1,343.9 8,798.7 9,167.4
Work-in-process Inventory 153,012.92 50% 8 0% 4 3% 2 3%
8,119.3 8,347.4 8,691.8
Finished Goods Inventory 144,971.08 51% 7 3% 0 3% 3 3%

Supplies - 0% - 0% - 0% - 0%
Net Property, Plant and Equipment:
Furniture and fixtures - 2,499.60 -3% - 2,499.60 -4% - 2,499.60 -4% - 2,499.60 -4%
-
Equipment - 27,656.00 -8% - 27,656.00 -9% - 27,656.00 -9% - 27,656.00 10%
- - -
Other Assets - 1,800.00 -9% - 1,800.00 10% - 1,800.00 11% - 1,800.00 12%
- - - -
Net leasehold improvements - 5,326.20 10% - 5,326.20 12% - 5,326.20 13% - 5,326.20 15%

Security Deposit - 0% - 0% - 0% - 0%

TOTAL ASSETS 854,349.97 27% 400,197.22 11% 438,168.25 11% 489,062.57 11%

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LIABILITIES AND PARTNERS EQUITY
Current Liabilities

SSS Premiums Payable 138,780.00 50% - 0% - 0% - 0%

PhilHealth Premiums Payable 33,450.00 50% - 0% - 0% - 0%

PAG-IBIG Premiums Payable 22,800.00 50% - 0% - 0% - 0%

Withholding Taxes Payable 90,615.69 50% - 0% - 0% - 0%


21,185.3 11,051.6 11,596.8
VAT Payable 236,453.90 57% 0 5% 2 2% 2 3%
21,185.3 11,051.6 11,596.8
TOTAL LIABILITIES 522,099.59 53% 0 2% 2 1% 2 1%
75,802.3 85,423.3 95,493.1
Bituin, Capital 66,450.08 16% 8 15% 3 15% 5 14%
75,802.3 85,423.3 95,493.1
Cortez, Capital 66,450.08 16% 8 15% 3 15% 5 14%
75,802.3 85,423.3 95,493.1
Cruz, Capital 66,450.08 16% 8 15% 3 15% 5 14%
75,802.3 85,423.3 95,493.1
Santos, Capital 66,450.08 16% 8 15% 3 15% 5 14%
75,802.3 85,423.3 95,493.1
Vinas, Capital 66,450.08 16% 8 15% 3 15% 5 14%
TOTAL PARTNERS EQUITY 332,250.38 16% 379,011.92 15% 427,116.63 15% 477,465.75 14%
TOTAL LIABILITIES AND PARTNERS'
854,349.97 27% 400,197.22 11% 438,168.25 11% 489,062.57 11%
EQUITY

185
Plasseins Company
Comparative Statement of Financial Performance
December 31, 2017, 2018, 2019, 2020 and 2021
Horizontal Analysis
Increase (Decrease)
PARTICULARS 2018 2019 2020 2021
Amount Percent Amount Percent Amount Percent Amount Percent
Sales 4,251,197 54% 227,342 3% 233,727 3% 243,371 3%
Cost of Sales 2,899,421.69 51% 162,387.42 3% 166,948.01 3% 173,836.60 3%
Gross Income 1,351,774.86 60% 64,954.97 3% 66,779.20 3% 69,534.64 3%
Interest Income 5,046.72 35% 4,349.70 23% 4,494.33 19% 4,996.24 18%
Total Income 1,356,821.58 60% 69,304.67 3% 71,273.53 3% 74,530.88 3%
Expenses:
Rent 72,000.00 50% - 0% - 0% - 0%
Utilities 63,788.40 51% 2,502.47 2% 2,552.52 2% 2,603.57 2%
Supplies Expense 84,193.00 50% - 0% - 0% - 0%
Advertising Expense
Licences and Permits - 33,162.00 - - 0% - 0% - 0%
Depreciaton - Furniture and Fixture 1,249.80 50% - 0% - 0% - 0%
Depreciation - Equipment 13,828.00 50% - 0% - 0% - 0%
Depreciation - Other Assets 900.00 50% - 0% - 0% - 0%
Depreciation - Leasehold Improvement 2,663.10 50% - 0% - 0% - 0%
Salaries 408,864.13 50% - 0% - 0% - 0%
SSS Premiums 93,439.80 50% - 0% - 0% - 0%
PhilHealth Premiums 16,725.00 50% - 0% - 0% - 0%
PAG-IBIG 11,400.00 50% - 0% - 0% - 0%
Total Operating Expenses 694,439.23 45% 2,502.47 0% 2,552.52 0% 2,603.57 0%
Income before Tax 662,382.35 91% 66,802.20 8% 68,721.02 8% 71,927.31 8%
Income Tax(30%) 198,714.70 91% 20,040.66 8% 20,616.30 8% 21,578.19 8%
Net Income 550,833.12 109% 46,761.54 8% 48,104.71 8% 50,349.12 8%

186
Vertical Analysis

Plasseins Company
Comparative Statement of Financial Position
December 31, 2017, 2018, 2019, 2020 and 2021
Vertical Analysis
Increase (Decrease)
2017 2018 2019 2020 2021
ASSETS
Current Assets:
Cash 51% 53% 59% 64% 68%
Raw Materials Inventory 4% 6% 5% 4% 4%
Work-in-process Inventory 7% 10% 9% 8% 7%
Finished Goods Inventory 6% 9% 8% 8% 7%
Supplies 4% 3% 2% 2% 2%
Net Property, Plant and Equipment:
Furniture & fixtures 3% 2% 2% 2% 1%
Equipment 17% 11% 9% 7% 6%
Other assets 1% 1% 1% 0% 0%
Net leasehold improvements 3% 2% 1% 1% 1%
Security Deposit 5% 4% 3% 3% 3%
TOTAL ASSETS
LIABILITIES AND PARTNERS EQUITY
Current Liabilities
SSS Premiums Payable 6% 9% 8% 7% 6%
PhilHealth Premiums Payable 1% 2% 2% 2% 2%
PAG-IBIG Premiums Payable 1% 1% 1% 1% 1%
Withholding Taxes Payable 4% 6% 5% 5% 4%
VAT Payable 8% 13% 12% 11% 10%

187
TOTAL LIABILITIES 20% 32% 29% 26% 23%
Bituin, Capital 16% 14% 14% 15% 15%
Cortez, Capital 16% 14% 14% 15% 15%
Cruz, Capital 16% 14% 14% 15% 15%
Santos, Capital 16% 14% 14% 15% 15%
Vinas, Capital 16% 14% 14% 15% 15%
TOTAL PARTNERS EQUITY 80% 68% 71% 74% 77%
TOTAL LIABILITIES AND PARTNERS' EQUITY

Plasseins Company
Comparative Statement of Financial Position
December 31, 2017, 2018, 2019, 2020 and 2021
Vertical Analysis
Increase (Decrease)
PARTICULARS 2017 2018 2019 2020 2021
Sales 100% 100% 100% 100% 100%
Cost of Sales 75% 71% 71% 71% 71%
Gross Income 25% 29% 29% 29% 29%
Interest Income 0% 0% 0% 0% 0%
Total Income 25% 29% 29% 29% 29%
Expenses:
Rent 2% 2% 2% 2% 2%
Utilities 2% 2% 2% 2% 2%
Supplies Expense 2% 2% 2% 2% 2%
Advertising Expense 2% 0% 0% 0% 0%
Licences and Permits 1% - - - -
Depreciaton - Furniture and Fixture 0% 0% 0% 0% 0%
Depreciation - Equipment 0% 0% 0% 0% 0%

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Depreciation - Other Assets 0% 0% 0% 0% 0%
Depreciation - Leasehold Improvement 0% 0% 0% 0% 0%
Salaries 11% 10% 10% 10% 9%
SSS Premiums 3% 2% 2% 2% 2%
PhilHealth Premiums 0% 0% 0% 0% 0%
PAG-IBIG 0% 0% 0% 0% 0%
Total Operating Expenses 23% 20% 19% 19% 18%
Income before Tax 2% 9% 10% 10% 11%
Income Tax(30%) - 3% 3% 3% 3%
Net Income 1% 6% 7% 7% 8%

Variable Income Statement

189
Plasseins
Statement of Comprehensive Income
For the Year Ended 2017, 2018, 2019, 2020, 2021

2017 2018 2019 2020 2021


3,648,117.4 7,899,314.0 100 100 100 100
Sales 100% 8,126,656.41 8,360,383.63 8,603,754.87
8 2 % % % %
Less: Variable Cost and
Expense
Variable Cost of Sales 2,079,411.76 4,436,562.18 4,593,607.28 4,755,106.13 4,923,384.58
VAT Expense 175,490.06 411,943.96 433,129.26 444,180.88 455,777.70

Contribution Margin 1,393,215.65 38% 3,050,807.88 39% 3,099,919.87 38% 3,161,096.62 38% 3,224,592.59 37%
Less: Fixed Cost and
Expense
Depreciation Expense 18,640.90 37,281.80 37,281.80 37,281.80 37,281.80
Supplies Expense 84,193.00 168,386.00 168,386.00 168,386.00 168,386.00
Rent Expense 72,000.00 144,000.00 144,000.00 144,000.00 144,000.00
Salaries Expense 406,730.47 1,131,462.28 1,131,462.28 1,131,462.28 1,131,462.28
Licenses and Permits 33,162.00
Advertising Expenses 54,750.00
Ultilities Expense 61,335.00 125,123.40 125,123.40 125,123.40 125,123.40

93,439.80 186,879.60 186,879.60 186,879.60 186,879.60


SSS Premiums
16,725.00 33,450.00 33,450.00 33,450.00 33,450.00
PhilHealth Premiums
11,400.00 22,800.00 22,800.00 22,800.00 22,800.00
PAG-IBIG
Total Fixed Cost 852,376.17 23% 1,849,383.08 23% 1,849,383.08 23% 1,849,383.08 22% 1,849,383.08 21%
Net Income Before Interest
540,839.48 15% 1,201,424.80 15% 1,250,536.79 15% 1,311,713.54 16% 1,375,209.51 16%
and Taxes
Less: Income Tax
162,251.84 360,427.44 375,161.04 393,514.06 412,562.85
Expense
Net Income after Tax 378,587.63 10% 840,997.36 11% 875,375.75 11% 918,199.48 11% 962,646.66 11%

190

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