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Solar-Lightning Inc.: Revenues

Solar-Lightning Inc.'s net income decreased in 2010 compared to 2009. Revenues decreased from ₱197 million in 2009 to ₱182 million in 2010, with sales of goods dropping from nearly ₱196 million to ₱181 million. Expenses also decreased across the board, with the largest expenses being cost of goods sold, operating expenses, and other operating expenses. However, expenses did not decrease as much as revenues, resulting in a net income of ₱5.8 million for 2010 compared to ₱8.9 million in 2009.

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56 views

Solar-Lightning Inc.: Revenues

Solar-Lightning Inc.'s net income decreased in 2010 compared to 2009. Revenues decreased from ₱197 million in 2009 to ₱182 million in 2010, with sales of goods dropping from nearly ₱196 million to ₱181 million. Expenses also decreased across the board, with the largest expenses being cost of goods sold, operating expenses, and other operating expenses. However, expenses did not decrease as much as revenues, resulting in a net income of ₱5.8 million for 2010 compared to ₱8.9 million in 2009.

Uploaded by

Rafael Macuto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Solar-Lightning Inc.

Income Statement
2010 2009
Revenues
Sales
Sale of Goods 181,221,384.83 195,882,722.33
Other Revenues
Interest Income 676,505.10 490,415.59
Miscellaneous Income 296,283.68 453,935.34
Foreign Currency Gains (Losses) 225,268.63 208,403.40
1,198,057.41 1,152,754.33

182,419,442.24 197,035,476.66

Expenses
Cost of Goods Sold (123,676,691.66) (132,811,464.52)
Operating Expenses
Salaries and Employees Benefits (17,553,704.00) (18,404,917.22)
Rent Expenses (9,890,912.60) (9,581,426.85)
Communications, Light and Water (4,016,399.51) (3,492,864.96)
Security Services (3,938,023.72) (3,584,505.92)
Advertising and Pormotions (3,783,654.03) (6,819,038.69)
Depreciation and Amortization Expenses (1,678,234.49) (1,728,719.02)
Others- Telephone and Fax (1,463,833.32) (1,541,406.81)
Taxes and Licenses (1,347,682.27) (1,545,450.46)
Transportation and Travel Expenses (1,314,920.20) (1,337,985.99)
Professional Fees (842,186.71) (808,177.81)
Repairs and Maintenance Expenses (407,852.89) (303,349.35)
(46,237,403.74) (49,147,843.08)
Other Operating Expenses
Bank Charges (2,660,907.61) (2,860,510.39)
Loss (Gain) on Sale of Properties (1,000,453.54) (116,105.08)
Miscellaneous Expenses (697,988.81) (394,209.74)
Representation Expenses (463,803.63) (859,020.11)
Supplies Expense (372,234.60) (358,300.72)
Insurance Expenses (158,555.71) (162,103.37)
Loss on damaged inventory (1,871.00)
(5,353,943.90) (4,752,120.41)
Income Tax Provisions
Income Tax Expense- Current (1,290,947.16) (1,371,637.36)
Income Tax Expense- Deferred (25,034.29) (72,270.01)
(1,315,981.45) (1,443,907.37)

(176,584,020.75) (188,155,335.38)
NET INCOME 5,835,421.49 8,880,141.28

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