Managerial Accounting Term Paper Sta. Lucia Land, Inc.

Term Paper
Financial Statements Analysis on

STA. LUCIA LAND, INC.
Managerial Accounting
Term Paper
Table of Contents
I.COMMENTS ON THE RESULTS OF ANALYSIS................................................................1

II.STA. LUCIA LAND, INC. STATEMENTS OF FINANCIAL POSITION.................................5
III.STA. LUCIA LAND, INC. STATEMENTS OF COMPREHENSIVE INCOME......................6
II.Sta. Lucia Land, Inc. Statements of Cash Flows.................................................................7
IV.STA. LUCIA LAND, INC. STATEMENTS OF CASH FLOWS.............................................7
V.STA. LUCIA LAND, INC. STATEMENTS OF FINANCIAL POSITION (Excel).....................8
VI.STA. LUCIA LAND, INC. STATEMENTS OF COMPREHENSIVE INCOME (Excel)........10
VII.STA. LUCIA LAND, INC. STATEMENTS OF CASH FLOWS (Excel)..............................11
VIII.VERTICAL ANALYSIS: STATEMENTS OF FINANCIAL POSITION..............................12
IX.VERTICAL ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME......................13
X.HORIZONTAL ANALYSIS: STATEMENTS OF FINANCIAL POSITION...........................14
XI.HORIZONTAL ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME................15
XII.TREND ANALYSIS: STATEMENTS OF FINANCIAL POSITION....................................16
XIII.TREND ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME.........................17
XIV.SELECTED RATIOS.....................................................................................................18
XV.WORKING PAPER.........................................................................................................19
I.
COMMENTS ON THE RESULTS OF ANALYSIS
Sta. Lucia Land, Inc. (SLI) was incorporated in the Republic of the Philippines and registered
with the Philippine Securities and Exchange Commission (SEC) on December 6, 1996 under the name
Zipporah Mining and Industrial Corporation to engage in mining. On August 14, 1996, the
Registrants Articles of Incorporation was amended to: (i) change the corporate name to Zipporah
Realty Holdings, Inc. (ZRHI); (b) transpose the original primary purpose to secondary purpose from
being a mining firm to a real estate company, the primary purpose of which is to acquire by purchase,
lease, donation, or otherwise, and to own, use, improve, develop and hold for investment or otherwise,
real estate of all kinds, improve, manage or otherwise dispose of buildings, houses, apartments and
other structures of whatever kind, together with their appurtenances. In 2007, majority of the shares of
ZRHI was acquired by Sta. Lucia Realty & Development, Inc. (SLRDI) through a property-share
swap and changed its company name to Sta. Lucia Land, Inc. upon board approval. 1
The following section discusses analyses made on the Companys financial statements,
derived from its 2012 Annual Report, using analytical tools such as Vertical Analysis, Horizontal
Analysis, Trend Analysis and selected ratios.
VERTICAL ANALYSIS
a) Balance Sheet (BS) the bulk of assets came from acquisition of various lands for
development declared under real estate inventories, which comprise 47.81% of total assets
(2011-2012 average), and development of parcels of land held as investment property making
up 27.77% of the total assets. Significant changes in proportion of individual accounts from
2011 to 2012 were noted in entries under:
1) Receivables, wherein in 2011, it only comprise 2.84% of the total assets, and
increased by 3.58 percentage points in 2012. This could be due to increased real
estate sales driven by new projects sold.
Sta. Lucia Land, Inc. 2012 Annual Report
2) Total liabilities, in which its proportion to total assets of 24.15% from 2011 increased
to 27.43%. This could be attributed to the Companys focus on continued
constructions of projects and acquisitions of various lands for future expansions.
3) Total equity, which, as a result of the increase in proportion of total liabilities
consequently decreased total equitys proportion to total assets by 3.28% in 2012.
b) Statement of Comparative Income (SOCI) The bulk of the revenues is generated from real
estate sales which comprised 72.44% and 64.68% of the total revenues in 2012 and 2011,
respectively. The Company showed great performance in its real estate business. Significant
changes in proportion to total revenues were observed in entries under:
1) Real estate sales, which grew by 7.76 percentage points. This could be explained by
the companys increased efforts in further improving real estate sales operations.
2) Cost and expenses, particularly costs of real estate, which increased by 11.48
percentage points from 2011 to 2012. This increase is corresponding to the
companys expanding operations.
HORIZONTAL ANALYSIS
a) Horizontal analysis BS Total assets generally grew by 9.34% from P14.8 billion in 2011 to
P16.2 billion in 2012, with current assets and noncurrent assets recording increases of 12.31%
and 4%, respectively. The increase was greatly influenced by the significant growth of 147%
under Receivables, caused by the continued sales of infused and ongoing projects.
Meanwhile, the significant increase in Receivables was offset by decreases incurred under
Cash, and Noncurrent installment contracts receivables items.
Total liabilities also increased by 24%, necessitated by the continued constructions of projects
and acquisitions of various lands for future expansions. However, while total liabilities
incurred greater increase in relative terms than total assets, in absolute terms, the growth in
liabilities only translates to about P867 million, while the positive difference in 2011 and
2012 assets amounted to P1.4 billion.
2
Total equity also grew by 4.61%, or P520 million, brought about by the 400% increase in
retained earnings attributed to the companys profitable operations, gains on investment
properties, and revenues from real estate business operations.
b) Horizontal analysis SOCI SLIs declared total comprehensive income decreased by 6%,
from P555 million in 2011, to only P520 million generated in 2012. Net income also declined
from P359 million in 2011 to P312 million in 2012. The decline in income was due to
decrease in rental income, increase in advertising and promotions and additional manpower
costs of the company to compete in the real estate market.
Overall revenue increased by 24.36% in 2012. Significant increases which contributed to
revenue growth are: (i) 39.29% increase in real estate sales, which is due to increased
advertising and promotion activities especially to the companys new projects; (ii) 81.84%
increase in dividend income, resulted from the Companys investments in various securities;
and (iii) 105.05% increase in other operational income such as penalties and surcharges,
processing fees, and income related to defaults of various buyers and cancelled sales. These
increases, however, were offset by the decreases in rental income (6.85% decrease) due to
lower occupancy rate of Sta. Lucia East Grand Mall in Cainta, Rizal, and interest income
(11.18 decrease) due to the recognition of day 1 loss of non-interest bearing receivables.
Meanwhile, cost and expenses also increased by a greater amount (P415 million) or 45.77%.
This resulted from increased real estate sales, which has corresponding costs of sales such
as advertising, which consequently increased by 73.71%. Significant growth in commissions
(54.29%), salaries and wages (76.63%) and other administrative costs consistent with the
continued growth and development of the company were also observed.
TREND ANALYSIS
a) BS all items under total assets recorded an increasing trend from 2011 to 2012, except for
cash entries, which decreased following the requirement of an additional portfolio of project
developments and expenditures during the year, and noncurrent installment contracts
receivables, which slowed down the increase of total assets to only 109.34%. Meanwhile,
total liabilities have grown faster than assets, recording a rate of increase of 124.18.%. This
could be attributed to the Companys focus on continued constructions of projects and
acquisitions of various lands for future expansions.
b) SOCI all items under total revenue are fast increasing from 2011 to 2012, except for rental
income, which was stunted by the decrease in occupancy rate of Sta. Lucia East Grand Mall
in Cainta, Rizal, and interest income due to day 1 loss of non-interest bearing receivables.
Entries under other income grew the fastest, at 205.05% rate, attributed to the increase in
other operational income such as penalties and surcharges, processing fees, and income
related to defaults of various buyers and cancelled sales.
Meanwhile, cost and expenses grew faster than revenue at a rate of 145.77%. The company
recognized that to be able increase its revenue (in the long run), it has to spend more first on
improving its operations.
RATIOS
a) Current ratio the companys current ratio in 2011 and 2012 are 2.75 and 2.53, respectively,
meaning, in every P1 current short-term debt, there is an available P2.75 and P2.53 current
assets. These ratios, pegged outside the rule of thumb two to one ratio could mean that there is
an excess in cash or too much inventory. 2012 level is lower than 2011, which could mean
that, the company has recognized the need to spend more as manifested in the continuous
construction projects and acquisition of properties, as well as spending in administrative and
operating expenses, geared at increasing revenues.
b) Debt-equity ratio the Companys relative proportions of debt and equity on a companys
balance sheet resulted to 0.32 for 2011 and 0.38 for 2012. These ratios are considered
4
relatively low-risk, with the company having low amount of debt, and is thus exposed to less
risk, in terms of interest rate increases or credit rating.
c) Return on equity ratio the Companys effectiveness to use equity funds for 2011 and 2012 is
3% for both years. While this ratio indicates low returns on investments, it should be noted
that real estate requires intensive capital infusion for infrastructure before generating revenue.
It would not be fair to conclude that a higher return on ratio is a better investment than the
lower one. It really depends on the type of business/industry a company is in.
d) Return on investment - the Companys efficiency in using its assets to generate profit for
2011 and 2012 is 2% for both years. This percentage/ratio is low, and may indicate that it has
a poor capacity of converting assets/investments into profit.
FISCAL FITNESS ANALYSIS

e) For 2011, the Companys Z-score is 2.68. For 2012, its Z-score is 2.48. The companys Zscore for both years fall within the gray area. Accordingly, it should exercise caution.
II.
STA. LUCIA LAND, INC. STATEMENTS OF FINANCIAL POSITION
III.
STA. LUCIA LAND, INC. STATEMENTS OF COMPREHENSIVE INCOME
II.
Sta. Lucia Land, Inc. Statements of Cash Flows
IV.
STA. LUCIA LAND, INC. STATEMENTS OF CASH FLOWS

STATEMENTSOF FINANCIALPOSITION
ASSETS
Current Assets
Cash (Notes 4 and 26)
Receivables (Notes 5, 19 and 26)
Real estate inventories (Note 7)
Deposits on land purchase (Notes 6 and 19)
Other current assets (Note 8)
Total Current Assets
Noncurrent Assets
Noncurrent installment contracts
receivables (Notes 5 and 26)
Available-for-sale financial assets (Notes 9
and 26)
Investment properties (Notes 10 and 19)
Property and equipment (Note 11)
Other noncurrent assets
Total Noncurrent Assets
TOTALASSETS
LIABILITIESAND EQUITY
Amount (Php)
2012
2011
65,087,317
1,043,644,582
7,663,871,869
1,358,686,369
98,916,488
422,292,908
7,188,211,335
1,358,686,369
580,775,433
10,712,065,570
469,684,305
9,537,791,405
423,942,143
535,326,949
728,030,470
493,695,039
4,351,584,926
9,538,217
10,923,805
5,524,019,561
16,236,085,131
4,267,333,441
7,672,655
7,370,178
5,311,398,262
14,849,189,667
Amount (Php)
2012
2011
Current Liabilities
Accounts and other payables (Notes 12 and
1,399,644,295
1,194,303,496
26)
Loans payable (Notes 14 and 26)
2,550,270,952
2,102,280,244
Customers deposits (Note 13)
281,846,975
127,975,517
Income tax payable
0
38,623,289
Total Current Liabilities
4,231,762,222
3,463,182,546
Noncurrent Liabilities
Deferred tax liabilities - net (Note 24)
222,156,115
123,506,755
Total Noncurrent Liabilities
222,156,115
123,506,755
TOTALLIABILITIES
4,453,918,337
3,586,689,301
Equity (Notes 1 and 15)
Capital stock
10,796,450,000
10,796,450,000
Additional paid-in capital
192,053,636
192,053,636
V.
STA. LUCIA LAND, INC. STATEMENTS OF FINANCIAL POSITION (Excel)
Retained earnings
389,007,656
77,793,680
Unrealized gain on fair value of available404,655,502
196,203,050
for-sale securities (Note 9)
Total Equity
11,782,166,794
11,262,500,366
TOTALASSETS
16,236,085,131
14,849,189,667
VI.
STA.

STATEMENTSOF COMPREHENSIVEINCOME
Years Ended December 31
2012
REVENUE
Real estate sales (Note 22)
Rental income (Notes 10, 19, 22 and 23)
Interest income (Note 16)
Dividend income (Note 9)
Others (Note 17)
COSTSAND EXPENSES
Costs of real estate (Notes 7 and 18)
Commissions
Depreciation and amortization (Notes 10, 11
and 23)
Interest expenses (Note 18)
Taxes, licenses and fees
Advertising
Salaries and wages (Notes 19 and 20)
Professional fees
Representation
Utilities
Repairs and maintenance
Provision for doubtful accounts (Note 5)
Miscellaneous
INCOMEBEFOREINCOMETAX
PROVISION FORINCOMETAX (Note 24)
NET INCOME
OTHERCOMPREHENSIVEINCOME
Unrealized gain on fair value of available
for sale financial assets (Note 9)
TOTAL COMPREHENSIVEINCOME
Basic/ Diluted Earnings Per Share (Note 25)
2011
1,298,673,373
385,846,603
65,494,554
5,862,404
36,876,277
1,792,753,211
932,373,225
414,221,369
73,741,300
3,223,998
17,983,696
1,441,543,588
802,392,394
138,480,893
479,763,974
89,754,929
110,640,676
95,308,625
58,002,606
53,891,347
18,200,890
17,752,402
6,840,162
5,176,266
3,699,746
166,252
14,117,456
1,324,669,715
468,083,496
156,869,520
311,213,976
109,282,393
69,051,627
63,766,064
31,023,298
10,304,312
29,413,156
7,341,926
4,984,794
4,607,384
9,440,134
908,733,991
532,809,597
174,016,494
358,793,103
208,452,452
519,666,428
0.03
196,203,050
554,996,153
0.03
LUCIA
LAND, INC.
STATEMENTS
OF COMPREHENSIVE INCOME (Excel)
See
accompanying
Notes
to Financial Statements
10
VII.
STA. LUCIA LAND, INC. STATEMENTS OF CASH FLOWS (Excel)

STATEMENTSOF CASH FLOWS
Years Ended December 31
2012
CASH FLOWSFROM OPERATING ACTIVITIES
Income before income tax
Adjustments for:
Depreciation and amortization (Notes 10 and 11)
Interest expense (Note 14)
Operating income before changes in working capital
Changes in operating assets and liabilities:
Decrease (increase) in:
Receivables
Real estate inventories
Deposits on land purchase
Due from related parties
Other current assets
Increase in:
Accounts and other payables
Customers deposits
Net cash generated from (used in) operations
Interest paid
Interest received
Income taxes paid
2011
468,083,496
532,809,597
110,640,676
95,308,625
(65,494,554)
608,538,243
109,282,393
69,051,627
(73,741,300)
637,402,317
(75,347,310)
(498,810,012)
(438,932,574)
(111,091,130)
(565,609,719)
(585,991,398)
(328,802,771)
(284,474,229)
(46,380,016)
254,244,590
153,871,458
(107,526,735)
(135,615,707)
34,670,981
(72,046,360)
390,093,231
18,399,859
(765,362,726)
(51,672,837)
54,793,322
(80,542,705)
(280,517,821)
(842,785,946)
(4,414,538)
(3,553,627)
(192,343,185)
(7,022,232)
(200,311,350)
(7,022,232)
1,155,000,000
(708,000,004)
900,000,000
447,000,000
900,000,000
(33,829,171)
50,191,822
CASH AT BEGINNING OF YEAR
98,916,488
48,724,666
CASH AT END OF YEAR(Note 4)
65,087,317
98,916,488
Net cash (used in) provided by operating activities

CASH FLOWSFROM INVESTING ACTIVITIES
Additions to:
Investment properties (Note 10)
Amounts of due from related parties
Net cash used in investing activities
CASH FLOWSFROM FINANCING ACTIVITIES
Proceeds from loans (Note 14)
Payment of loans (Note 14)
Net cash provided by financing activities
NET INCREASE(DECREASE) IN CASH
See accompanying Notes to Financial Statements.
11
VIII.
VERTICAL ANALYSIS: STATEMENTS OF FINANCIAL POSITION

ASSETS
Current Assets
Receivables (Notes 5, 19 and
26)
(Notes 6 and 19)
Noncurrent Assets
Available-for-sale financial
assets (Notes 9 and 26)
Investment properties (Notes 10
and 19)
Property and equipment (Note
11)
TOTAL ASSETS
LIABILITIES AND EQUITY

Current Liabilities
(Notes 12 and 26)
Loans payable (Notes 14 and
26)
Income tax payable
Deferred tax liabilities - net (Note
24)
TOTAL LIABILITIES
Capital stock
Amount (Php)
2012
2011
Vertical Analysis %
2012
2011
65,087,317
1,043,644,58
2
7,663,871,86
9
1,358,686,36
9
98,916,488
422,292,908
0.40
6.43
0.67
2.84
7,188,211,33
5
1,358,686,36
9
47.20
48.41
8.37
9.15
580,775,433
10,712,065,5
70
469,684,305
9,537,791,40
5
3.58
65.98
3.16
64.23
423,942,143
535,326,949
2.61
3.61
728,030,470
493,695,039
4.48
3.32
4,351,584,92
6
9,538,217
4,267,333,44
1
7,672,655
26.80
28.74
0.06
0.05
10,923,805
5,524,019,56
1
16,236,085,1
31
7,370,178
5,311,398,26
2
14,849,189,6
67
0.07
34.02
0.05
35.77
100.00
100.00
Amount (Php)
2012
2011
Amount (Php)
2012
2011
1,399,644,29
5
1,194,303,49
6
8.62
8.04
2,550,270,95
2
281,846,975
0
4,231,762,22
2
2,102,280,24
4
127,975,517
38,623,289
3,463,182,54
6
15.71
14.16
1.74
0.00
26.06
0.86
0.26
23.32
222,156,115
123,506,755
1.37
0.83
222,156,115
4,453,918,33
7
123,506,755
3,586,689,30
1
1.37
27.43
0.83
24.15
10,796,450,0
00
192,053,636
10,796,450,0
00
192,053,636
66.50
72.71
1.18
1.29
12
Retained earnings
Unrealized gain on fair value of
available-for-sale securities
(Note 9)
Total Equity
TOTAL ASSETS
IX.
389,007,656
404,655,502
77,793,680
196,203,050
2.40
2.49
0.52
1.32
11,782,166,7
94
16,236,085,1
31
11,262,500,3
66
14,849,189,6
67
72.57
75.85
100.00
100.00
VERTICAL ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME

Vertical Analysis %
2012
2011
2012
2011
1,298,673,37
3
932,373,225
72.44
64.68
385,846,603
65,494,554
5,862,404
36,876,277
1,792,753,21
1
414,221,369
73,741,300
3,223,998
17,983,696
1,441,543,58
8
21.52
3.65
0.33
2.06
28.73
5.12
0.22
1.25
100.00
100.00
802,392,394
138,480,893
479,763,974
89,754,929
44.76
7.72
33.28
6.23
110,640,676
95,308,625
58,002,606
53,891,347
109,282,393
69,051,627
63,766,064
31,023,298
6.17
5.32
3.24
3.01
7.58
4.79
4.42
2.15
18,200,890
17,752,402
6,840,162
5,176,266
3,699,746
10,304,312
29,413,156
7,341,926
4,984,794
4,607,384
1.02
0.99
0.38
0.29
0.21
0.71
2.04
0.51
0.35
0.32
166,252
14,117,456
1,324,669,71
5
468,083,496
9,440,134
0.01
0.79
0.00
0.65
908,733,991
532,809,597
73.89
26.11
63.04
36.96
156,869,520
311,213,976
174,016,494
358,793,103
8.75
17.36
12.07
24.89
REVENUE
Rental income (Notes 10, 19, 22
and 23)
Others (Note 17)
COSTS AND EXPENSES

Costs of real estate (Notes 7 and
18)
Commissions
Depreciation and amortization
(Notes 10, 11 and 23)
Advertising
Salaries and wages (Notes 19
and 20)
Professional fees
Representation
Utilities
Provision for doubtful accounts
(Note 5)
Miscellaneous
INCOME BEFORE INCOME TAX

PROVISION FOR INCOME TAX
(Note 24)
NET INCOME
OTHER COMPREHENSIVE
INCOME
13

available for sale financial assets
(Note 9)
TOTAL COMPREHENSIVE
INCOME
Basic/Diluted Earnings Per Share
(Note 25)
X.
208,452,452
196,203,050
11.63
13.61
519,666,428
554,996,153
28.99
38.50
0.03
0.03
0.03
0.03
HORIZONTAL ANALYSIS: STATEMENTS OF FINANCIAL POSITION

ASSETS
Current Assets
Deposits on land purchase (Notes
6 and 19)
Noncurrent Assets
Amount (Php)
2012
2011
2012 VS 2011
Amount (Php)
%
65,087,317
1,043,644,582
7,663,871,869
1,358,686,369
98,916,488
422,292,908
7,188,211,335
1,358,686,369
(33,829,171.00)
621,351,674.00
475,660,534.00
0.00
(34.20)
147.14
6.62
0.00
580,775,433
10,712,065,57
0
469,684,305
9,537,791,405
111,091,128.00
1,174,274,165.0
0
23.65
12.31
423,942,143
535,326,949 (111,384,806.00
)
(20.81)
728,030,470
493,695,039
234,335,431.00
47.47

4,351,584,926
and 19)
9,538,217
10,923,805
5,524,019,561
TOTAL ASSETS
16,236,085,13
1
4,267,333,441
84,251,485.00
1.97
7,672,655
7,370,178
5,311,398,262
14,849,189,66
7
1,865,562.00
3,553,627.00
212,621,299.00
1,386,895,464.0
0
24.31
48.22
4.00
9.34
Available-for-sale financial assets

(Notes 9 and 26)

Current Liabilities
(Notes 12 and 26)
Income tax payable
Amount (Php)
2012
2011
2012 VS 2011
Amount (Php)
%
1,399,644,295
1,194,303,496
205,340,799.00
17.19
2,550,270,952
281,846,975
0
4,231,762,222
2,102,280,244
127,975,517
38,623,289
3,463,182,546
447,990,708.00
153,871,458.00
(38,623,289.00)
768,579,676.00
21.31
120.24
(100.00)
22.19
222,156,115
123,506,755
98,649,360.00
79.87
14
24)
TOTAL LIABILITIES
Capital stock
Retained earnings
available-for-sale securities (Note
9)
Total Equity
TOTAL ASSETS
XI.
222,156,115
4,453,918,337
123,506,755
3,586,689,301
98,649,360.00
867,229,036.00
79.87
24.18
10,796,450,00
0
192,053,636
389,007,656
404,655,502
10,796,450,00
0
192,053,636
77,793,680
196,203,050
0.00
0.00
11,782,166,79
4
16,236,085,13
1
11,262,500,36
6
14,849,189,66
7
0.00
311,213,976.00
208,452,452.00
0.00
400.05
106.24
519,666,428.00
4.61
1,386,895,464.0
0
9.34
HORIZONTAL ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME

Amount (Php)
2012
2011
2012 VS 2011
Amount
%
REVENUE
Rental income (Notes 10,
19, 22 and 23)
Others (Note 17)
COSTS AND EXPENSES

Costs of real estate (Notes 7
and 18)
Commissions
Depreciation and
amortization (Notes 10, 11
and 23)
Advertising
Salaries and wages (Notes
19 and 20)
Professional fees
Representation
Utilities
Provision for doubtful
accounts (Note 5)
Miscellaneous
1,298,673,373
932,373,225
385,846,603
65,494,554
5,862,404
36,876,277
1,792,753,211
414,221,369
73,741,300
3,223,998
17,983,696
1,441,543,58
8
366,300,148.0
0
(28,374,766.00
)
(8,246,746.00)
2,638,406.00
18,892,581.00
351,209,623.0
0
802,392,394
138,480,893
479,763,974
89,754,929
322,628,420.0
0
48,725,964.00
67.25
54.29
110,640,676
95,308,625
58,002,606
53,891,347
109,282,393
69,051,627
63,766,064
31,023,298
1,358,283.00
26,256,998.00
(5,763,458.00)
22,868,049.00
1.24
38.03
(9.04)
73.71
18,200,890
10,304,312
76.63
17,752,402
6,840,162
5,176,266
3,699,746
29,413,156
7,341,926
4,984,794
4,607,384
7,896,578.00
(11,660,754.00
)
(501,764.00)
191,472.00
(907,638.00)
(39.64)
(6.83)
3.84
(19.70)
166,252
14,117,456
9,440,134
166,252.00
4,677,322.00
49.55
39.29
(6.85)
(11.18)
81.84
105.05
24.36
15
1,324,669,715
908,733,991
468,083,496
532,809,597
156,869,520
174,016,494
311,213,976
358,793,103
208,452,452
196,203,050
519,666,428
0.03
INCOME BEFORE INCOME

TAX
PROVISION FOR INCOME
TAX (Note 24)
NET INCOME
OTHER COMPREHENSIVE
INCOME
Unrealized gain on fair value
of available for sale financial
assets (Note 9)
TOTAL COMPREHENSIVE
INCOME
Basic/Diluted Earnings Per
Share (Note 25)
XII.
415,935,724.0
0
(64,726,101.00
)
(17,146,974.00
)
(47,579,127.00
)
45.77
(12.15)
(9.85)
(13.26)
554,996,153
12,249,402.00
(35,329,725.00
)
6.24
(6.37)
0.03
(0.00)
(12.12)
TREND ANALYSIS: STATEMENTS OF FINANCIAL POSITION

ASSETS
Current Assets
Amount (Php)
2012
2011
Trend Analysis %
2012
2011
65,087,317
1,043,644,58
2
7,663,871,86
9
1,358,686,36
9
98,916,488
422,292,908
65.80
247.14
100.00
100.00
7,188,211,33
5
1,358,686,36
9
106.62
100.00
100.00
100.00
580,775,433
10,712,065,5
70
469,684,305
9,537,791,40
5
123.65
112.31
100.00
100.00
423,942,143
535,326,949
79.19
100.00
Available-for-sale financial assets

(Notes 9 and 26)
728,030,470
493,695,039
147.47
100.00

and 19)
Property and equipment (Note
11)
4,351,584,92
6
9,538,217
4,267,333,44
1
7,672,655
101.97
100.00
124.31
100.00
10,923,805
5,524,019,56
1
16,236,085,1
31
7,370,178
5,311,398,26
2
14,849,189,6
67
148.22
104.00
100.00
100.00
109.34
100.00

(Notes 6 and 19)
Noncurrent Assets
TOTAL ASSETS
Amount (Php)
Amount (Php)
16
Current Liabilities
(Notes 12 and 26)
Income tax payable
24)
TOTAL LIABILITIES
Capital stock
Retained earnings
available-for-sale securities (Note
9)
Total Equity
TOTAL ASSETS
XIII.
2012
2011
2012
2011
1,399,644,29
5
2,550,270,95
2
281,846,975
0
4,231,762,22
2
1,194,303,49
6
2,102,280,24
4
127,975,517
38,623,289
3,463,182,54
6
117.19
100.00
121.31
100.00
220.24
0.00
122.19
100.00
100.00
100.00
222,156,115
123,506,755
179.87
100.00
222,156,115
4,453,918,33
7
123,506,755
3,586,689,30
1
179.87
124.18
100.00
100.00
10,796,450,0
00
192,053,636
389,007,656
404,655,502
10,796,450,0
00
192,053,636
77,793,680
196,203,050
100.00
100.00
100.00
500.05
206.24
100.00
100.00
100.00
11,782,166,7
94
16,236,085,1
31
11,262,500,3
66
14,849,189,6
67
104.61
100.00
109.34
100.00
TREND ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME

Trend Analysis %
2012
2011
2012
2011
1,298,673,37
3
932,373,225
139.29
100.00
385,846,603
65,494,554
5,862,404
36,876,277
1,792,753,21
1
414,221,369
73,741,300
3,223,998
17,983,696
1,441,543,5
88
93.15
88.82
100.00
100.00
205.05
100.00
124.36
100.00
COSTS AND EXPENSES

Costs of real estate (Notes 7 and 18)
Commissions
802,392,394
138,480,893
479,763,974
89,754,929
167.25
154.29
100.00
100.00
Depreciation and amortization (Notes

10, 11 and 23)
110,640,676
95,308,625
58,002,606
109,282,393
69,051,627
63,766,064
101.24
138.03
90.96
100.00
100.00
100.00
REVENUE
Rental income (Notes 10, 19, 22 and
23)
Others (Note 17)
17
Advertising
Salaries and wages (Notes 19 and
20)
Professional fees
Representation
Utilities
Provision for doubtful accounts (Note
5)
Miscellaneous
INCOME BEFORE INCOME TAX

PROVISION FOR INCOME TAX (Note
24)
NET INCOME
OTHER COMPREHENSIVE INCOME
available for sale financial assets
(Note 9)
TOTAL COMPREHENSIVE INCOME
Basic/Diluted Earnings Per Share
(Note 25)
XIV.
53,891,347
31,023,298
173.71
100.00
18,200,890
17,752,402
6,840,162
5,176,266
3,699,746
10,304,312
29,413,156
7,341,926
4,984,794
4,607,384
176.63
60.36
100.00
100.00
103.84
80.30
100.00
100.00
166,252
14,117,456
1,324,669,71
5
468,083,496
9,440,134
149.55
100.00
908,733,991
532,809,597
145.77
87.85
100.00
100.00
156,869,520
311,213,976
174,016,494
358,793,103
90.15
86.74
100.00
100.00
208,452,452
519,666,428
196,203,
050
554,996,153
93.63
100.00
0.03
0.03
87.88
100.00
SELECTED RATIOS
Company Name: STA. LUCIA LAND, INC.
RATIOS TO BE COMPUTED
Amounts
Ratios
2012
10,712,065,570
4,231,762,222
2011
9,537,791,405
3,463,182,546
2012
2011
2.53
2.75
Equity
4,453,918,337
11,782,166,794
3,586,689,301
11,262,500,366
0.38
0.32
RETURN ON EQUITY
Net income
Average Equity
311,213,976
11,522,333,580
358,793,103
11,522,333,580
0.03
0.03
RETURN ON ASSETS
Net Income
Average Assets
311,213,976
15,542,637,399
358,793,103
15,542,637,399
0.02
0.02
CURRENT RATIO
DEBT EQUITY RATIO
Current Assets
Current Liabilities
Liabilities
18
XV.
WORKING PAPER
ACCOUNTING EQUATION ANALYSIS
STEP 1 ACCOUNTING
EQUATION
2012
CURRENT ASSETS
NONCURRENT ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
NONCURRENT
LIABILITIES
EQUITY
TOTAL LIABILITIES &
EQUITY

2011
2012
2011
10,712,065,570
5,524,019,561
16,236,085,131
4,231,762,222
9,537,791,405
5,311,398,262
14,849,189,667
3,463,182,546
65.98%
34.02%
100.00%
26.06%
64.23%
35.77%
100.00%
23.32%
222,156,115
11,782,166,794
123,506,755
11,262,500,366
1.37%
72.57%
0.83%
75.85%
16,236,085,131
14,849,189,667
FISCAL FITNESS ANALYSIS
100.00%
100.00%
STEP 1 FISCAL FITNESS

ANALYSIS
COMPONENTS
CURRENT ASSETS
10,712,065,570
9,537,791,405
19
CURRENT LIABILITIES
WORKING CAPITAL [WC]
TOTAL ASSETS [TA]
RETAINED
EARNINGS[ RE]
EBIT
EQUITY [EQ]
TOTAL LIABILITIES [TL]
SALES/REVENUE [SR]
4,231,762,222
6,480,303,348
16,236,085,131
3,463,182,546
6,074,608,859
14,849,189,667
389,007,656
1,324,669,715
11,782,166,794
4,453,918,337
1,792,753,211
77,793,680
908,733,991
11,262,500,366
3,586,689,301
1,441,543,588
STEP 2 FISCAL FITNESS

ANALYSIS
X1
X2
X3
X4
X5
WC/TA
RE/TA
EBIT/TA
EQ/TL
SR/TA
STA. LUCIA
LAND, INC.
1.2
1.4
3.3
0.6
1.0
0.40
0.02
0.08
2.65
0.11
0.41
0.01
0.06
3.14
0.10
FISCAL FITNESS
SCORES
0.48
0.03
0.27
1.59
0.11
0.49
0.01
0.20
1.88
0.10
2.48
2.68
CASH FLOW ANALYSIS

STEP 1 USE CASH FLOW
STATEMENT
OPERATING ACTIVITIES
INVESTING ACTIVITIES
FINANCING ACTIVITIES
EXCHANGE RATE
DIFFERENCE
(280,517,821)
(200,311,350)
(480,829,171)
447,000,000
(33,829,171)
(842,785,946)
(7,022,232)
(849,808,178)
900,000,000
50,191,822
(33,829,171.00)
50,191,822
(67,658,342)
100,383,644
20

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Financial Statements Analysis on

I.COMMENTS ON THE RESULTS OF ANALYSIS................................................................1

COMMENTS ON THE RESULTS OF ANALYSIS

Sta. Lucia Land, Inc. 2012 Annual Report

FISCAL FITNESS ANALYSIS

STA. LUCIA LAND, INC. STATEMENTS OF FINANCIAL POSITION

STA. LUCIA LAND, INC. STATEMENTS OF COMPREHENSIVE INCOME

Sta. Lucia Land, Inc. Statements of Cash Flows

STA. LUCIA LAND, INC. STATEMENTS OF CASH FLOWS

STA. LUCIA LAND, INC.

STA. LUCIA LAND, INC.

STA. LUCIA LAND, INC. STATEMENTS OF CASH FLOWS (Excel)

CASH AT BEGINNING OF YEAR

CASH AT END OF YEAR(Note 4)

Net cash (used in) provided by operating activities

See accompanying Notes to Financial Statements.

VERTICAL ANALYSIS: STATEMENTS OF FINANCIAL POSITION

LIABILITIES AND EQUITY

VERTICAL ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME

COSTS AND EXPENSES

INCOME BEFORE INCOME TAX

Unrealized gain on fair value of

HORIZONTAL ANALYSIS: STATEMENTS OF FINANCIAL POSITION

Investment properties (Notes 10

Available-for-sale financial assets

LIABILITIES AND EQUITY

HORIZONTAL ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME

COSTS AND EXPENSES

INCOME BEFORE INCOME

TREND ANALYSIS: STATEMENTS OF FINANCIAL POSITION

Available-for-sale financial assets

Investment properties (Notes 10

Real estate inventories (Note 7)

TREND ANALYSIS: STATEMENTS OF COMPREHENSIVE INCOME

COSTS AND EXPENSES

Depreciation and amortization (Notes

INCOME BEFORE INCOME TAX

Company Name: STA. LUCIA LAND, INC.

DEBT EQUITY RATIO

ACCOUNTING EQUATION ANALYSIS

STA. LUCIA LAND, INC.

STEP 1 FISCAL FITNESS

STEP 2 FISCAL FITNESS

CASH FLOW ANALYSIS

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