ESCUELA DE ANGELA MARICI INC.

STATEMENTS OF FINANCIAL POSITION

As of December 31
2016 2015

ASSETS

Current Assets

Cash 1,697,448.54 502,453.51

Accounts Receivable 55,750.00 57,900.00

Total Current Assets 1,753,198.54 560,353.51

Non-current Assets
Land 4,000,000.00 4,000,000.00
Building Improvements 4,995,485.00 3,712,665.00
Computer Equipment 575,950.00 307,200.00
Furnitures and Fixtures 625,540.00 459,240.00
Office Equipment 496,974.50 356,974.75
10,693,949.50 8,836,079.75
Accum. Depreciation 773,322.80 618,352.00
Total Non Current Assets 9,920,626.70 8,217,727.75

TOTAL ASSETS 11,673,825.24 8,778,081.26

LIABILITIES AND EQUITY

LIABILITIES

Current Liabilities

Advances from Officers 1,064,300.00 2,064,300.00

Other Current Liabilities ###
Income Tax Payable -

Total Current Liabilities 1,064,300.00 2,064,300.00

EQUITY

Member's Equity(See exhibit C) 10,609,525.24 6,713,781.26

Total Equity 10,609,525.24 6,713,781.26

TOTAL LIABILITIES AND EQUITY 11,673,825.24 8,778,081.26

ESCUELA DE ANGELA MARICI INC.
STATEMENTS OF RECEIPT AND DISBURSEMENT

For The Years Ended December 31

2016 2015 ###
RECEIPT
TUITION FEES 3,708,710.75 ###
2,871,069.39
Add: Other Income (Sch A) 3,082,380.00 ###
2,622,000.00

TOTAL GROSS INCOME 6,791,090.75 5,493,069.39###

LESS EXPENSES

Salaries & Wages 1,680,557.00 1,233,524.02###

Light & Water 255,977.93 254,632.61
###
13th Month 149,250.16 114,257.66
###
School and Office Supplies 54,820.50 27,856.75
###
Communication Expenses 37,908.88 23,294.15
###
Gas & Oil 46,277.75 57,610.75
###
Student Activities 89,388.00 66,994.37
###
Promotional Expenses 24,839.00 36,374.00
###
Depreciation Expense 137,480.00 137,480.00
###
Faculty Development 92,143.08 60,076.53
###
Repairs & Maintenance-Materials 62,848.46 106,398.61
###
SSS, Philhealth and Pagibig 64,162.58 63,157.50
###
Incentives and Benefits 120,900.25 107,130.36
###
Medical and Dental Expenses 3,379.35 1,625.50
###
Meetings and Conferences 28,940.63 60,021.82
###
Representation Expense 16,700.00 10,141.01
###
Transportation & Travelling 15,409.20 16,460.00
###
Miscellaneous 14,364.00 6,653.10
###

2,895,346.77 2,383,688.74
###

Net Income Before Tax 3,895,743.98 3,109,380.65

###
ESCUELA DE ANGELA MARICI INC.
STATEMENTS OF CHANGES IN MEMBER'S EQUITY

For the Years Ended December 31

2016 2015 ###
MEMBER'S EQUITY

Contributed Capital 380,000.00 380,000.00

###

Balance at beginning of year 6,333,781.26 3,224,400.61

###

Net Income after tax 3,895,743.98 3,109,380.65

###

10,609,525.24 6,713,781.26
###

###
ESCUELA DE ANGELA MARICI INC.
STATEMENT OF CASH FLOWS

2016 2015 ###

Net Income 3,895,743.98 3,109,380.65P

Cash Flows from Operating/Investing Activities

Changes in operating assets and liabilities

Increase / Decrease in trade and other receivables 2,150.00 (8,200.00)
###
Increase / Decrease in Other current asset
Increase / Decrease in Other current asset
Increase / Decrease in trade and other payables
Increase / Decrease in Other current Liabilities (1,000,000.00)
Increase / Decrease in Income Tax Payable ###
Net cash (used) from operating activities 2,897,893.98 3,101,180.65
###

Cash Flows from Investing Activities

Increase / Decrease in non current asset (1,702,898.95) (2,927,899.75)
###

Net (decrease) increase in cash 1,194,995.03 173,280.90

###

Cash Balance at the beginning of period 502,453.51 329,172.61

###

Cash Balance at the end of period 1,697,448.54 502,453.51P

 ESCUELA DE ANGELA MARICI , INC.
SUMMARY OF OTHER INCOME
YEAR 2014 TO YEAR 2016
(SCHEDULE A)

2016 2015

GRADUATION FEES ,NET 751,180.00 620,000.00

CANTEEN INCOME,NET 582,920.00 450,000.00
BOOKS 682,250.00 587,500.00
EDUCATIONAL FIELD TRIP 188,100.00 270,000.00
FOUNDATION DAY 72,000.00 60,000.00
CHRISTMAS PARTY 56,100.00 45,000.00
HALLOWEEN PARTY 40,230.00 33,750.00
INTRAMURALS 50,025.00 33,750.00
ELECTIVE SUBJECTS 275,000.00 225,000.00
TUTORIALS 281,150.00 220,000.00
SUMMER CLASSES 63,425.00 55,000.00
SUMMER TUTORIALS 40,000.00 22,000.00

TOTAL 3,082,380.00 2,622,000.00