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    Bernardo Corporation Statement of Financial Position As of Year 2019 Assets

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    Jean Marie Delgado
    The Bernardo Corporation's statement of financial position and statement of financial operations for 2019 are presented. As of 2019, Bernardo Corporation had total assets of $81.4 million, including current assets of $29.5 million and fixed assets of $51.5 million. Total liabilities were $46.3 million, including current liabilities of $34.5 million. Equity included preferred stock, additional paid-in capital, retained earnings, and treasury stocks totaling $30.8 million. In 2019, Bernardo Corporation had net sales of $35.2 million and net profits after interest and taxes of $7.5 million.

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    Bernardo Corporation Statement of Financial Position As of Year 2019 Assets

    Uploaded by

    Jean Marie Delgado
    390 views3 pages
    The Bernardo Corporation's statement of financial position and statement of financial operations for 2019 are presented. As of 2019, Bernardo Corporation had total assets of $81.4 million, including current assets of $29.5 million and fixed assets of $51.5 million. Total liabilities were $46.3 million, including current liabilities of $34.5 million. Equity included preferred stock, additional paid-in capital, retained earnings, and treasury stocks totaling $30.8 million. In 2019, Bernardo Corporation had net sales of $35.2 million and net profits after interest and taxes of $7.5 million.

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    Bernardo Corporation Financial Statements

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    Bernardo-Corporation-FS

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    The Bernardo Corporation's statement of financial position and statement of financial operations for 2019 are presented. As of 2019, Bernardo Corporation had total assets of $81.4 million, including current assets of $29.5 million and fixed assets of $51.5 million. Total liabilities were $46.3 million, including current liabilities of $34.5 million. Equity included preferred stock, additional paid-in capital, retained earnings, and treasury stocks totaling $30.8 million. In 2019, Bernardo Corporation had net sales of $35.2 million and net profits after interest and taxes of $7.5 million.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    390 views3 pages

    Bernardo Corporation Statement of Financial Position As of Year 2019 Assets

    Uploaded by

    Jean Marie Delgado
    The Bernardo Corporation's statement of financial position and statement of financial operations for 2019 are presented. As of 2019, Bernardo Corporation had total assets of $81.4 million, including current assets of $29.5 million and fixed assets of $51.5 million. Total liabilities were $46.3 million, including current liabilities of $34.5 million. Equity included preferred stock, additional paid-in capital, retained earnings, and treasury stocks totaling $30.8 million. In 2019, Bernardo Corporation had net sales of $35.2 million and net profits after interest and taxes of $7.5 million.

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    © All Rights Reserved
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    of 3

    Bernardo Corporation

    Statement of Financial Position


    As of Year 2019

    ASSETS
    Current Assets
    Cash and Cash Equivalents 9,001,250
    Inventories 5,300,661
    Accounts Receivables, net 8,200,110
    Notes Receivable 250,000
    Prepaid Expenses 2,600,000
    Marketable Securities 3,700,328
    Advances to Employees 450,000
    Total Current Assets 29, 502,349
    Fixed Assets
    Property, Plant, and Equipment
    Land 11,500,000
    Building, net 29,000,250
    Equipment, net 7,720,089
    Computer Software 3,250,000
    Total Fixed Assets 51,470,339
    Other Assets
    Long-term Refundable Deposit 330,000
    Goodwill 50,000
    Lease Rights 100,000
    Accrued Interest Income 10,000
    Total Other Assets 490,000
    TOTAL ASSETS 81,462,688

    LIABILITIES
    Current Liabilities
    Accounts Payable 19,400,080
    Accrued Salaries 2,804,208
    Notes Payable, short 1,200,500
    PhilHealth Payable 2,001,000
    SSS Payable 6,400,800
    Unearned Income 403,000
    Withholding Tax Payable 2,330,000
    Total Current Liabilities 34,539,588
    Non-current Liabilities
    Bonds Payable 6,161,000
    Mortgage Payable 4,200,100
    Notes Payable, long 1,398,500
    Total Non-current Liabilities 11,759,600
    Total Liabilities 46,299,188
    EQUITY
    Preferred Stock 20,300,000
    Additional Paid-in Capital 7,305,000
    Retained Earnings 5,108,500
    Treasury Stocks 2,450,000
    Total Equity 30,763,500
    TOTAL LIABILITIES AND EQUITY 81,462,688

    Bernardo Corporation
    Statement of Financial Operations
    For the Year Ended 2019

    Sales 35,400,750
    Less: Sales Return, Discount, and Allowances (210,500)
    Net Sales 35,190,250
    Cost of Goods Sold 9,359,960
    Gross Profit 25,830,290

    Less: Operating Expenses


    Selling Expenses
    Advertising Expenses (1,500,110)
    Marketing Expenses (978,400)
    Total Selling Expenses (2,478,510)
    General and Administrative Expenses
    Rental Expense (2,400,000)
    Depreciation Expense (770,000)
    Salaries Expense (9,430,220)
    Total General and Administrative
    (12,600,220)
    Expenses
    Total Operating Expenses (15,078,730)
    Total Operating Profit 10,751,560

    Less: Other Gains (losses)


    Other Income – Dividends 500,000
    Loss on Sale of Equipment (88,580)

    Earnings Before Interest and Taxes 11,162,980


    Less: Interest and Tax Expense (3,649,710)
    Net Profits After Interest and Taxes 7,513,270
    Less: Preferred Dividends (2,700,720)
    Earnings Available for Common
    4,812,550
    Stockholders

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