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					FINANCIAL ASSUMPTIONS:


      1. The 5% of the projected demand will be the number of clients per year.

      2. Savings and Time deposits are estimated to increase in 10% for the coming years.

      3. 2% increase per year for salaries and wages.

      4. Rates for SSS, Pag-IBIG and Philhealth were from latest published rates of the respective government

        agencies.

      5. 2% increase per year for utilities expense (includes electricity, water and telephone expenses).

      6. 2% increase per year for repairs and maintenance.

      7. Allowance for Doubtful Accounts is 5% of the interest income.

      8. Equipment includes all bank and office equipment at estimated 5 years depreciable life

      9. Amounts due from BSP is 20% of Paid-in Capital and will have a 5% increase per year.

      10. Office Supplies is expected to increase 2% per year.

      11. Straight Line Method is used in computing the depreciation.

      12. Provisions for Probable Loss is 2% of current assets.
157
      13. Furniture and Fixtures and Equipments with a 5-year useful life.

      14. Prepaid insurance represents the amount paid in fire insurance.

      15. Equity investments represents the investment of the bank to other companies and it will increase its value

        5% per year.




158
                             Proposed Used of Funds

      Fixed Asset Requirement


        Equipment                   Schedule 1        1,543,609.25

        Furniture And Fixtures      Schedule 2        126,935.00
      Total Fixed Asset
      Requirement                                        1,670,544.25


      Current Asset
      Requirement
        Prepaid Insurance                                  200,000.00
        Insurance (PDIC)                                 1,000,000.00
        Due from Banko Sentral ng Pilipinas              4,000,000.00
        Equity investments                               4,000,000.00


      Total Current Asset
      Requirement                                        9,200,000.00




159
      Pre- Operating Expense Requirement
        Prepaid Rent                                         44,000.00
        Taxes and Licenses              Schedule 3           20,072.00
        Repairs and Maintenance         Schedule 4            3,885.75
         Installation Cost               Schedule 5          52,250.00
      Total Pre-Operating Cost                               120,207.75

      Operating Expense
       Salaries and Wages          Schedule 6             2,215,200.00
       Office Supplies             Schedule 7                18,213.50
       Utilities                   Schedule 8               261,000.00
       Advertising And Promotion   Schedule 9                23,000.00
      Total Operating Expense                             2,517,413.50

      Total                                              13,508,165.50

      Contingency Fund (for other unexpected expenses)    6,491,834.50

      Total Fund Requirements To Start The Business      20,000,000.00




160
SCHEDULE 1
 EQUIPMENTS
 DEPRECIATION SCHEDULE


       NAME OF
                      Unit Cost   QTY     2011         2012         2013          2014         2015
      EQUIPMENT


Computer Set        30,999.00     5     30,999.00    30,999.00    30,999.00    30,999.00    30,999.00

Copier Machine      50,000.00     2     20,000.00    20,000.00    20,000.00    20,000.00    20,000.00

Fire Extinguisher   2,309.75      3     1,385.85     1,385.85     1,385.85     1,385.85     1,385.85

Fax Machine         4,790.00      3     2,874.00     2,874.00     2,874.00     2,874.00     2,874.00

Scanner             3,500.00      2     1,400.00     1,400.00     1,400.00     1,400.00     1,400.00

Telephone           1,200.00      3     720.00       720.00       720.00       720.00       720.00

Vault               25,000.00     1     5,000.00     5,000.00     5,000.00     5,000.00     5,000.00

Security System     500,000.00    1     100,000.00   100,000.00   100,000.00   100,000.00   100,000.00

Vault Door          500,000.00    1     100,000.00   100,000.00   100,000.00   100,000.00   100,000.00

Air conditioner     200,000.00    1     40,000.00    40,000.00    40,000.00    40,000.00    40,000.00



161
        NAME OF
                       Unit Cost    QTY     2011         2012         2013          2014          2015
       EQUIPMENT


Emergency Light      945.00         5     945.00       945.00       945.00       945.00        945.00

Television           26,990.00      1     5,398.00     5,398.00     5,398.00     5,398.00      5,398.00


         TOTAL       1,543,609.25         308,721.85   308,721.85   308,721.85   308,721.85    308,721.85

                                                                                                    -


         TOTAL
      DEPRECIATION                        308,721.85   308,721.85   308,721.85    308,721.85   308,721.85
        EXPENSE




162
SCHEDULE 2
 FURNITURE AND FIXTURES
 DEPRECIATION SCHEDULE


      DESCRIPTION    Unit Cost   QTY     2011         2012         2013         2014         2015




Customers Chair         495      10        990.00       990.00       990.00       990.00       990.00



Sofa Set               9995       2      3,998.00     3,998.00     3,998.00     3,998.00     3,998.00



Office Table Set       10599      5     10,599.00    10,599.00    10,599.00    10,599.00    10,599.00



Steel Cabinet          9800       5      9,800.00     9,800.00     9,800.00     9,800.00     9,800.00




TOTAL               126,935.00         25,387.00    25,387.00    25,387.00    25,387.00    25,387.00



163
SCHEDULE 3
TAXES AND LICENSES

                           MONTHLY
       PARTICULARS                        2011       2012        2013        2014        2015
                            RATE



Business Permit            1,439.33   17,272.00   17,617.44   17,969.79   18,329.18   18,695.77


Barangay Clearance         125.00     1,500.00    1,530.00    1,560.60    1,591.81    1,623.65


Bureau of Internal
Revenue                    108.33     1,300.00    1,326.00    1,352.52    1,379.57    1,407.16


Fire Safety Inspection
Clearance                  16.67      200.00      204.00      208.08      212.24      216.49

TOTAL                      1,672.67   20,072.00   20,473.44   20,882.91   21,300.57   21,726.58
Source: Quezon City Hall




164
      SCHEDULE 4
      REPAIRS AND MAINTENANCE


                               Unit     MONTHLY
       DESCRIPTION       QTY                        2011      2012        2013       2014      2015
                               Cost      RATE


      Plain Flat Latex    3      380 95.00        1,140.00   1,162.80   1,186.06   1,209.78   1,233.97
      Paint Semi
      Gloss               2      480 80.00        960.00     979.20     998.78     1,018.76   1,039.13

      Paint Brush         2       50 8.33         100.00     102.00     104.04     106.12     108.24


      Roller Brush        1           2 0.17      2.00       2.04       2.08       2.12       2.16


      Nails               2       35 5.83         70.00      71.40      72.83      74.28      75.77


      Cleaning Map        2    199.75 33.29       399.50     407.49     415.64     423.95     432.43


      Broom               2     99.75 16.63       199.50     203.49     207.56     211.71     215.95


      Dust Pan            1     44.75 3.73        44.75      45.65      46.56      47.49      48.44

165
                              Unit   MONTHLY
       DESCRIPTION      QTY                      2011        2012        2013       2014      2015
                              Cost    RATE




      Trash Can          1    389.75 32.48     389.75       397.55     405.50     413.61     421.88


      Rags               4     45.75 15.25     183.00       186.66     190.39     194.20     198.09
      Liquid Hand
      Soap               1       50 4.17       50.00        51.00      52.02      53.06      54.12

      Hand Towel         3       20 5.00       60.00        61.20      62.42      63.67      64.95


      Gloves             2     44.75 7.46      89.50        91.29      93.12      94.98      96.88


      Floor Sanitizer    1    197.75 16.48     197.75       201.71     205.74     209.85     214.05
                                                        -


      TOTAL                          323.81    3,885.75     3,963.47   4,042.73   4,123.59   4,206.06




166
      SCHEDULE 5
      INSTALLATION COST


           DESCRIPTION          Cost




      Electricity            1,000.00



      Telecommunication      1,250.00



      Air-con Installation   50,000.00



      TOTAL                  P52,250.00




167
SCHEDULE 6
SALARIES and BENEFITS


                                                           2011                             2012
                          Rate/    Daily                                        Monthly
      POSITION                              Monthly Rate      Annual Rate                     Annual Rate
                          Hour     Rate                                          Rate

       SALARIES

Chief Executive Officer   120.19   961.54     25,000.00           300,000.00    25,500.00      306,000.00

Vice Executive Officer    110.58   884.62     23,000.00           276,000.00    23,460.00      281,520.00

Accountant                105.77   846.15     22,000.00           264,000.00    22,440.00      269,280.00

Auditor                   105.77   846.15     22,000.00           264,000.00    22,440.00      269,280.00

Loan Processor            96.15    769.23     20,000.00           240,000.00    20,400.00      244,800.00

Asst. Loan Processor      86.54    692.31     18,000.00           216,000.00    18,360.00      220,320.00

Cashier/Tellers (1)       52.50    420.00     10,920.00           131,040.00    11,138.40      133,660.80

Cashier/Tellers (2)       52.50    420.00     10,920.00           131,040.00    11,138.40      133,660.80

Cashier/Tellers (3)       52.50    420.00     10,920.00           131,040.00    11,138.40      133,660.80

Guards (1)                35.00    420.00     10,920.00           131,040.00    11,138.40      133,660.80

Guards (2)                35.00    420.00    10,920.00         131,040.00       11,138.40       133,660.80
Total                                       184,600.00       2,215,200.00      188,292.00     2,259,504.00
168
                                      2013                         2014                         2015
                          Monthly                      Monthly                      Monthly
        POSITION                         Annual Rate                  Annual Rate                  Annual Rate
                           Rate                         Rate                         Rate

        SALARIES


Chief Executive Officer   26,010.00     312,120.00     26,530.20     318,362.40     27,060.80     324,729.65

Vice Executive Officer    23,929.20     287,150.40     24,407.78     292,893.41     24,895.94     298,751.28

Accountant                22,888.80     274,665.60     23,346.58     280,158.91     23,813.51     285,762.09

Auditor                   22,888.80     274,665.60     23,346.58     280,158.91     23,813.51     285,762.09

Loan Processor            20,808.00     249,696.00     21,224.16     254,689.92     21,648.64     259,783.72

Asst. Loan Processor      18,727.20     224,726.40     19,101.74     229,220.93     19,483.78     233,805.35

Cashier/Tellers (1)       11,361.17     136,334.02     11,588.39     139,060.70     11,820.16     141,841.91

Cashier/Tellers (2)       11,361.17     136,334.02     11,588.39     139,060.70     11,820.16     141,841.91

Cashier/Tellers (3)       11,361.17     136,334.02     11,588.39     139,060.70     11,820.16     141,841.91

Guards (1)                11,361.17     136,334.02     11,588.39     139,060.70     11,820.16     141,841.91

Guards (2)                11,361.17     136,334.02     11,588.39     139,060.70     11,820.16     141,841.91

Total                     192,057.84 2,304,694.08      195,899.00 2,350,787.96 199,816.98         2,397,803.72


169
                                             2011                       2012                           2013
                                      Monthly    Annual     Monthly                        Monthly
          POSITION                                                         Annual Rate                    Annual Rate
                                       Rate       Rate       Rate                           Rate
                SSS

Chief Executive Officer               1070.00   12,840.00    1,070.00          12,840.00    1,070.00          12,840.00

Vice Executive Officer                1070.00   12,840.00    1,070.00          12,840.00    1,070.00          12,840.00

Accountant                            1070.00   12,840.00    1,070.00          12,840.00    1,070.00          12,840.00

Auditor                               1070.00   12,840.00    1,070.00          12,840.00    1,070.00          12,840.00

Loan Processor                        1070.00   12,840.00    1,070.00          12,840.00    1,070.00          12,840.00

Assistant Loan Processor              1070.00   12,840.00    1,070.00          12,840.00    1,070.00          12,840.00

Cashier/Tellers (1)                    787.30   9,447.60     787.30            9,447.60     822.70            9,872.40

Cashier/Tellers (2)                    787.30   9,447.60     787.30            9,447.60     822.70            9,872.40

Cashier/Tellers (3)                    787.30   9,447.60     787.30            9,447.60     822.70            9,872.40

Guards (1)                             787.30   9,447.60     787.30            9,447.60     822.70            9,872.40

Guards (2)                             787.30   9,447.60     787.30            9,447.60     822.70            9,872.40

based on SSS Schedule of              10356.50 124,278.00   10,356.50      124,278.00      10,533.50      126,402.00
Contributions as of January 1, 2010


170
                                                      2014                            2015
                                           Monthly                         Monthly
                    POSITION                             Annual Rate                     Annual Rate
                                            Rate                            Rate
                         SSS

Chief Executive Officer                    1,070.00          12,840.00     1,070.00          12,840.00

Vice Executive Officer                     1,070.00          12,840.00     1,070.00          12,840.00

Accountant                                 1,070.00          12,840.00     1,070.00          12,840.00

Auditor                                    1,070.00          12,840.00     1,070.00          12,840.00

Loan Processor                             1,070.00          12,840.00     1,070.00          12,840.00

Assistant Loan Processor                   1,070.00          12,840.00     1,070.00          12,840.00

Cashier/Tellers (1)                         822.70           9,872.40       858.00           10,296.00

Cashier/Tellers (2)                         822.70           9,872.40       858.00           10,296.00

Cashier/Tellers (3)                         822.70           9,872.40       858.00           10,296.00

Guards (1)                                  822.70           9,872.40       858.00           10,296.00

Guards (2)                                  822.70           9,872.40       858.00           10,296.00

based on SSS Schedule of Contributions   10,533.50     126,402.00        10,710.00     128,520.00
as of January 1, 2010




171
                                                     2011                  2012                 2013
                                               Monthly  Annual      Monthly    Annual    Monthly   Annual
               POSITION
                                                Rate      Rate       Rate       Rate      Rate       Rate
             PHILHEALTH
                                                312.50
Chief Executive Officer                                  3,750.00   312.50    3,750.00   325.00   3,900.00
                                                287.50
Vice Executive Officer                                   3,450.00   287.50    3,450.00   287.50   3,450.00
                                                275.00
Accountant                                               3,300.00   275.00    3,300.00   275.00   3,300.00
                                                275.00
Auditor                                                  3,300.00   275.00    3,300.00   275.00   3,300.00
                                                250.00
Loan Processor                                           3,000.00   250.00    3,000.00   250.00   3,000.00
                                                225.00
Asst. Loan Processor                                     2,700.00   225.00    2,700.00   225.00   2,700.00
                                                125.00
Cashier/Tellers (1)                                      1,500.00   137.50    1,650.00   137.50   1,650.00
                                                125.00
Cashier/Tellers (2)                                      1,500.00   137.50    1,650.00   137.50   1,650.00
                                                125.00
Cashier/Tellers (3)                                      1,500.00   137.50    1,650.00   137.50   1,650.00
                                                125.00
Guards (1)                                               1,500.00   137.50    1,650.00   137.50   1,650.00
                                                125.00
Guards (2)                                               1,500.00   137.50    1,650.00   137.50   1,650.00
based on Philhealth Schedule of Contribution
as of Jan 1, 2010                              2250.00 27,000.00 2,312.50    27,750.00 2,325.00   27,900.00




172
                                             2014                         2015
                                  Monthly                      Monthly
                    POSITION                    Annual Rate                  Annual Rate
                                   Rate                         Rate
                  PHILHEALTH

Chief Executive Officer           325.00            3,900.00   337.50            4,050.00

Vice Executive Officer            300.00            3,600.00   300.00            3,600.00

Accountant                        287.50            3,450.00   287.50            3,450.00

Auditor                           287.50            3,450.00   287.50            3,450.00

Loan Processor                    262.50            3,150.00   262.50            3,150.00

AssT. Loan Proccessor             237.50            2,850.00   237.50            2,850.00

Cashier/Tellers (1)               137.50            1,650.00   137.50            1,650.00

Cashier/Tellers (2)               137.50            1,650.00   137.50            1,650.00

Cashier/Tellers (3)               137.50            1,650.00   137.50            1,650.00

Guards (1)                        137.50            1,650.00   137.50            1,650.00

Guards (2)                        137.50            1,650.00   137.50            1,650.00

based on Philhealth Schedule of   2,387.50      28,650.00      2,400.00      28,800.00
Contribution as of Jan 1, 2010




173
                                2011                      2012                     2013
                          Monthly   Annual      Monthly          Annual     Monthly     Annual
      POSITION
                           Rate      Rate        Rate             Rate       Rate        Rate
      PAG-IBIG

Chief Executive Officer   100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Vice Executive Officer    100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Accountant                100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Auditor                   100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Loan Processor            100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Asst. Loan Processor      100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Cashier/Tellers (1)       100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Cashier/Tellers (2)       100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Cashier/Tellers (3)       100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Guards (1)                100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

Guards (2)                100.00    1,200.00     100.00          1,200.00    100.00    1,200.00

                          1100.00   13,200.00   1,100.00     13,200.00      1,100.00   13,200.00



174
                                          2014                      2015
                                Monthly                  Monthly
                POSITION                   Annual Rate                Annual Rate
                                 Rate                     Rate
                PAG-IBIG

      Chief Executive Officer   100.00       1,200.00     100.00       1,200.00

      Vice Executive Officer    100.00       1,200.00     100.00       1,200.00

      Accountant                100.00       1,200.00     100.00       1,200.00

      Auditor                   100.00       1,200.00     100.00       1,200.00

      Loan Processor            100.00       1,200.00     100.00       1,200.00

      Asst. Loan Processor      100.00       1,200.00     100.00       1,200.00

      Cashier/Tellers (1)       100.00       1,200.00     100.00       1,200.00

      Cashier/Tellers (2)       100.00       1,200.00     100.00       1,200.00

      Cashier/Tellers (3)       100.00       1,200.00     100.00       1,200.00

      Guards (1)                100.00       1,200.00     100.00       1,200.00

      Guards (2)                100.00       1,200.00     100.00       1,200.00

                                1100.00     13,200.00    1,100.00     13,200.00



175
                              2011                        2012                     2013
                       Monthly     Annual      Monthly           Annual     Monthly     Annual
      POSITION
                        Rate        Rate        Rate              Rate       Rate        Rate
      UNIFORM

Loan Processor         750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

Asst. Loan Processor   750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

Cashier/Tellers (1)    750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

Cashier/Tellers (2)    750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

Cashier/Tellers (3)    750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

Guards (1)             750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

Guards (2)             750 each    1,500.00    765 each          1,530.00   780.3 each    1,560.60

                        750.00     7,500.00     765.00           7,650.00    780.30       7,803.00

TOTAL BENEFITS         13706.50   164,478.00   13,769.00     165,228.00     13,958.50    167,502.00




176
                                        2014                            2015
                              Monthly                         Monthly
            POSITION                        Annual Rate                     Annual Rate
                               Rate                            Rate
             UNIFORM

      Loan Processor         795.906 each      1,591.81     811.8282 each      1,623.65

      Asst. Loan Processor   795.906 each      1,591.81     811.8282 each      1,623.65

      Cashier/Tellers (1)    795.906 each      1,591.81     811.8282 each      1,623.65

      Cashier/Tellers (2)    795.906 each      1,591.81     811.8282 each      1,623.65

      Cashier/Tellers (3)    795.906 each      1,591.81     811.8282 each      1,623.65

      Guards (1)             795.906 each      1,591.81     811.8282 each      1,623.65

      Guards (2)             795.906 each      1,591.81     811.8282 each      1,623.65

                              795.906          7,959.06        811.82          8,118.24

      TOTAL BENEFITS           14,021.00       168,252.00     14,210.00        170,520.00




177
SCHEDULE 7
STATIONERY AND SUPPLIES

                           UNIT    MONTHLY
      DESCRIPTION    QTY                      2011       2012       2013       2014       2015
                           COST     RATE


Bond Paper (small)   20    119      198.33   2,380.00   2,427.60   2,476.15   2,525.68   2,576.19

Bond Paper (long)    20    149      248.33   2,980.00   3,039.60   3,100.39   3,162.40   3,225.65

Ballpen              50    9.75     40.63    487.50     497.25     507.20     517.34     527.69

Pentel Pen            5     23       9.58    115.00     117.30     119.65     122.04     124.48

Pencil               10     9.5      7.92     95.00      96.90      98.84     100.81     102.83

Folder (short)       80     10      66.67    800.00     816.00     832.32     848.97     865.95

Folder (long)        80     10      66.67    800.00     816.00     832.32     848.97     865.95

Stapler w/ remover    5     90      37.50    450.00     459.00     468.18     477.54     487.09

Staple wire          10    32.75    27.29    327.50     334.05     340.73     347.55     354.50

Puncher               3    85.25    21.31    255.75     260.87     266.08     271.40     276.83

Scotch Tape           8    18.5     12.33    148.00     150.96     153.98     157.06     160.20

Liquid Paper          5     29      12.08    145.00     147.90     150.86     153.88     156.95


178
                              UNIT     MONTHLY
      DESCRIPTION       QTY                         2011        2012        2013        2014        2015
                              COST      RATE

Highlighter              5     29       12.08      145.00      147.90      150.86      153.88      156.95
Scotch Tape Dispenser    4    49.75     16.58      199.00      202.98      207.04      211.18      215.40

Paper Clip              30     8.25     20.63      247.50      252.45      257.50      262.65      267.90

Double Adhesive          5     54       22.50      270.00      275.40      280.91      286.53      292.26

Push Pin                 3     28.5      7.13       85.50       87.21       88.95       90.73       92.55

Cork Board               2    169.75    28.29      339.50      346.29      353.22      360.28      367.49

Scissors                 4    20.75      6.92       83.00       84.66       86.35       88.08       89.84

Log Book                 2    67.75     11.29      135.50      138.21      140.97      143.79      146.67

Journal Book             5     22        9.17      110.00      112.20      114.44      116.73      119.07

Calculator               5    299.75    124.90     1,498.75    1,528.73    1,559.30    1,590.49    1,622.30

Columnar Book            3     22        5.50       66.00       67.32       68.67       70.04       71.44

Envelope                50     109      454.17     5,450.00    5,559.00    5,670.18    5,783.58    5,899.26

Flash Drive              3     200      50.00      600.00      612.00      624.24      636.72      649.46

TOTAL                                  1,517.79   18,213.50   18,577.77   18,949.33   19,328.31   19,714.88


179
SCHEDULE 8
UTILITIES EXPENSE
Notes: 2% increase per year

                              MONTHLY
  PARTICULARS        SOURCE                     2011          2012          2013           2014           2015
                               RATE

Electricity         Meralco        20,000   240,000.00       244,800.00    249,696.00   254,689.92       259,783.72

                    Manila
Water               Water          500.00        6,000.00      6,120.00      6,242.40        6,367.25      6,494.59


Communication       PLDT      1,250.00          15,000.00     15,300.00     15,606.00      15,918.12      16,236.48

TOTAL                          21,750.00     261,000.00     266,220.00    271,544.40     276,975.29     282,514.79




180
SCHEDULE 9
ADVERTISING EXPENSE

                              MONTHLY
  PARTICULARS      QUANTITY                2011       2012       2013       2014       2015
                               RATE

Signage               1        416.67    5,000.00     500.00     500.00     500.00     500.00

Tarpaulin             1        83.33     1,000.00     500.00     500.00     500.00     500.00

Umbrella              100      833.33    10,000.00   1,000.00   1,000.00   1,000.00   1,000.00

Flyers/Brochures      500      208.33    2,500.00    1,000.00   1,000.00   1,000.00   1,000.00

Ballpens            200 pcs    291.67    3,500.00    3,500.00   3,500.00   3,500.00   3,500.00

TOTAL
                              1,833.33   22,000.00   6,500.00   6,500.00   6,500.00   6,500.00




181
      SCHEDULE 10
      EQUIPMENTS

          NAME OF
                          UNIT COST      QUANTITY
         EQUIPMENT


      Computer Set          30,999.00        5

      Copier Machine        50,000.00        2

      Fire Extinguisher      2,309.75        3

      Fax Machine            4,790.00        3

      Scanner                3,500.00        2

      Telephone              1,200.00        3

      Vault                 25,000.00        1

      Security System      500,000.00        1

      Vault Door           500,000.00        1

      Air conditioner      200,000.00        1

      Emergency Light         945.00         5

      Television            26,990.00        1



      TOTAL                             1, 543, 609.25

182
      SCHEDULE 11
      FURNITURES AND FIXTURES


          DESCRIPTION     UNIT COST         QTY


      Customers Chair             495.00          10

      Sofa Set                   9,995.00         2

      Office Table Set          10,599.00         5

      Steel Cabinet              9,800.00         5



      TOTAL
                                       126,935.00




183
                                               JFINEXA SAVINGS BANK

                                                 INCOME STATEMENT

                                          First year Income Statement BY MONTH



                                                           January    February     March

Interest Income

      Receivables from customers                          400,966.67 400,966.67 400,966.67

      Trading and investment securities                   100,000.00 100,000.00 100,000.00

                                                          500,966.67 500,966.67 500,966.67
Interest expense

      Deposit liabilities                                  3,377.50    3,377.50   3,377.50


Net Interest Income                                       497,589.17 497,589.17 497,589.17

Provisions for Probable Losses                            39,770.26   39,770.26   39,770.26

Net Interest Income After Provision for
   Probable Losses                                        457,818.90 457,818.90 457,818.90




184
Other income

      Service income                         36,266.67   36,266.67   36,266.67

                                             36,266.67   36,266.67   36,266.67


Other expenses

      Salaries (Sched 6)                     184,600.00 184,600.00 184,600.00

      Utilities (Sched 8)                    21,750.00   21,786.25   6,822.56

      Taxes and Licenses (Sched 3)            1,672.67   1,675.45    1,678.25

      Advertising and Promotions (Sched 9)    1,916.67   1,916.67    1,916.67

      Stationery and Supplies (Sched 7)       1,517.79   1,520.32    1,522.86

      Insurance (PDIC)                       83,333.33   83,333.33   83,333.33

      Depreciation (Sched 1 and Sched 2)     27,842.40   27,842.40   27,842.40

      Benefits (Sched 6)                     13,706.50   13,706.50   13,706.50

      Rent expense                           22,000.00   22,000.00   22,000.00

      Transportation and Travelling           1,000.00   1,000.00    1,000.00

      Repairs and Maintenance (Sched 4)       323.81      323.81      323.81

185
      Entertainment, Amusement, and Recreation    1,000.00   1,000.00    1,000.00

                                                 360,663.18 360,704.74 360,746.38

                                                 133,422.40 133,380.83 133,399.19
Net Income Before Income Tax

Income tax (30%)                                 40,026.72   40,014.25   40,001.76

Net Income After Income Tax                      93,395.68   93,366.58   93,337.43




186
                                               JFINEXA SAVINGS BANK

                                                 INCOME STATEMENT

                                          First year Income Statement BY MONTH



                                                           April       May         June

 Interest Income

      Receivables from customers                        400,966.67 400,966.67 400,966.67

      Trading and investment securities                 100,000.00 100,000.00 100,000.00

                                                        500,966.67 500,966.67 500,966.67
 Interest expense

      Deposit liabilities                                3,377.50    3,377.50    3,377.50


 Net Interest Income                                    497,589.17 497,589.17 497,589.17

 Provisions for Probable Losses                          39,770.26   39,770.26   39,770.26

 Net Interest Income After Provision for
   Probable Losses                                      457,818.90 457,818.90 457,818.90




187
Other income

      Service income                          36,266.67   36,266.67   36,266.67

                                              36,266.67   36,266.67   36,266.67


Other expenses

       Salaries (Sched 6)                     184,600.00 184,600.00 184,600.00

       Utilities (Sched 8)                    21,858.93   21,895.36   21,931.86

       Taxes and Licenses (Sched 3)            1,681.04   1,683.85    1,686.65

       Advertising and Promotions (Sched 9)    1,916.67   1,916.67    1,916.67

       Stationery and Supplies (Sched 7)       1,525.39   1,527.94    1,530.48

       Insurance (PDIC)                       83,333.33   83,333.33   83,333.33

       Depreciation (Sched 1 and Sched 2)     27,842.40   27,842.40   27,842.40

       Benefits (Sched 6)                     13,706.50   13,706.50   13,706.50

       Rent expense                           22,000.00   22,000.00   22,000.00

       Transportation and Travelling           1,000.00   1,000.00    1,000.00

       Repairs and Maintenance (Sched 4)       323.81      323.81      323.81

188
      Entertainment, Amusement, and Recreation    1,000.00   1,000.00    1,000.00

                                                 360,788.09 360,829.86 360,871.71


Net Income Before Tax                            133,297.48 133,255.71 133,213.86

 Income tax (30%)                                39,989.25   39,976.71   39,964.16

 Net Income After Tax                            93,308.24   93,279.00   93,249.70




189
                                               JFINEXA SAVINGS BANK

                                                 INCOME STATEMENT

                                          First year Income Statement BY MONTH



                                                             July      August     September

 Interest Income

      Receivables from customers                          400,966.67 400,966.67   400,966.67

      Trading and investment securities                   100,000.00 100,000.00   100,000.00

                                                          500,966.67 500,966.67   500,966.67
 Interest expense

      Deposit liabilities                                  3,377.50    3,377.50    3,377.50


 Net Interest Income                                      497,589.17 497,589.17   497,589.17

 Provisions for Probable Losses                           39,770.26   39,770.26   39,770.26

 Net Interest Income After Provision for
   Probable Losses                                        457,818.90 457,818.90   457,818.90




190
Other income

      Service income                          36,266.67   36,266.67   36,266.67



                                              36,266.67   36,266.67   36,266.67
 Other expenses

       Salaries (Sched 6)                     184,600.00 184,600.00   184,600.00

       Utilities (Sched 8)                    21,968.41   22,005.02   22,041.70

       Taxes and Licenses (Sched 3)            1,689.46   1,692.28     1,695.10

       Advertising and Promotions (Sched 9)    1,916.67   1,916.67     1,916.67

       Stationery and Supplies (Sched 7)       1,533.03   1,535.59     1,538.15

       Insurance (PDIC)                       83,333.33   83,333.33   83,333.33

       Depreciation (Sched 1 and Sched 2)     27,842.40   27,842.40   27,842.40

       Benefits (Sched 6)                     13,706.50   13,706.50   13,706.50

       Rent expense                           22,000.00   22,000.00   22,000.00

       Transportation and Travelling           1,000.00   1,000.00     1,000.00

       Repairs and Maintenance (Sched 4)       323.81      323.81      323.81

191
      Entertainment, Amusement, and Recreation    1,000.00   1,000.00     1,000.00

                                                 360,913.62 360,955.61   360,997.66


Net Income Before Tax                            133,171.95 133,129.96   133,087.91

 Income tax (30%)                                39,951.58   39,938.99   39,926.37

 Net Income After Tax                            93,220.36   93,190.98   93,161.54




192
                                               JFINEXA SAVINGS BANK

                                                 INCOME STATEMENT

                                          First year Income Statement BY MONTH



                                                          October    November    December

 Interest Income

      Receivables from customers                         400,966.67 400,966.67 400,966.67

      Trading and investment securities                  100,000.00 100,000.00 100,000.00

                                                         500,966.67 500,966.67 500,966.67
 Interest expense

      Deposit liabilities                                 3,377.50    3,377.50   3,377.50


 Net Interest Income                                     497,589.17 497,589.17 497,589.17

 Provisions for Probable Losses                          39,770.26   39,770.26   39,770.26

 Net Interest Income After Provision for
   Probable Losses                                       457,818.90 457,818.90 457,818.90




193
Other income

      Service income                          36,266.67   36,266.67   36,266.67



                                              36,266.67   36,266.67   36,266.67
 Other expenses

       Salaries (Sched 6)                     184,600.00 184,600.00 184,600.00

       Utilities (Sched 8)                    22,078.43   22,115.23   22,152.09

       Taxes and Licenses (Sched 3)            1,697.92   1,700.75    1,703.59

       Advertising and Promotions (Sched 9)    1,916.67   1,916.67    1,916.67

       Stationery and Supplies (Sched 7)       1,540.71   1,543.28    1,545.85

       Insurance (PDIC)                       83,333.33   83,333.33   83,333.33

       Depreciation (Sched 1 and Sched 2)      9,528.66   9,528.66    9,528.66

       Benefits (Sched 6)                     13,706.50   13,706.50   13,706.50

       Rent expense                           22,000.00   22,000.00   22,000.00

       Transportation and Travelling           1,000.00   1,000.00    1,000.00

       Repairs and Maintenance (Sched 4)       323.81      323.81      323.81

194
      Entertainment, Amusement, and Recreation    1,000.00   1,000.00    1,000.00

                                                 361,039.79 361,081.98 361,124.25


Net Income Before Tax                            133,045.78 133,003.59 132,961.32

 Income tax (30%)                                39,913.74   39,901.08   39,888.40

 Net Income After Tax                            93,132.05   93,102.51   93,072.93




195
                                                JFINEXA SAVINGS BANK

                                                  INCOME STATEMENT

                                          First year Income Statement BY QUARTER



                                                    1ST           2ND            3RD            4TH
                                                  QUARTER       QUARTER        QUARTER        QUARTER
 Interest Income

      Receivables from customers                1,202,900.00   1,202,900.00   1,202,900.00   1,202,900.00

      Trading and investment securities          300,000.00    300,000.00     300,000.00     300,000.00

                                                1,502,900.00 1,502,900.00 1,502,900.00 1,502,900.00
 Interest expense

      Deposit liabilities                         10,132.50     10,132.50      10,132.50      10,132.50


 Net Interest Income                            1,492,767.50   1,492,767.50   1,492,767.50   1,492,767.50

 Provisions for Probable Losses                  119,310.79    119,310.79     119,310.79     119,310.79

 Net Interest Income After Provision for
   Probable Losses                              1,373,456.71   1,373,456.71   1,373,456.71   1,373,456.71




196
Other income

      Service income                          108,800.00   108,800.00   108,800.00   108,800.00



                                              108,800.00   108,800.00   108,800.00   108,800.00
 Other expenses

       Salaries (Sched 6)                     553,800.00   553,800.00   553,800.00   553,800.00

       Utilities (Sched 8)                    65,358.81    65,686.15    66,015.13    66,345.75

       Taxes and Licenses (Sched 3)            5,026.37     5,051.54     5,076.84     5,102.27

       Advertising and Promotions (Sched 9)    5,750.00     5,750.00     5,750.00     5,750.00

       Stationery and Supplies (Sched 7)       4,560.97     4,583.81     4,606.77     4,629.84

       Insurance (PDIC)                       250,000.00   250,000.00   250,000.00   250,000.00

       Depreciation (Sched 1 and Sched 2)     83,527.21    83,527.21    83,527.21    83,527.21

       Benefits (Sched 6)                     41,119.50    41,119.50    41,119.50    41,119.50

       Rent expense                           66,000.00    66,000.00    66,000.00    66,000.00

       Transportation and Travelling           3,000.00     3,000.00     3,000.00     3,000.00

       Repairs and Maintenance (Sched 4)        971.44       971.44       971.44       971.44


197
Entertainment, Amusement, and Recreation     3,000.00     3,000.00     3,000.00     3,000.00

                                           1,082,114.30 1,082,489.65 1,082,866.89 1,083,246.01


Net Income Before Tax                       400,142.41   399,767.06   399,389.82   399,010.70

 Income tax (30%)                           120,042.72   119,930.12   119,816.95   119,703.21

 Net Income After Tax                       280,099.69   279,836.94   279,572.88   279,307.49




198
                                                JFINEXA SAVINGS BANK

                                                  INCOME STATEMENT

                                          Projected Income Statement for 5-years



                                                           2011            2012          2013

 Interest Income

      Receivables from customers                        4,811,600.00   5,292,760.00   5,822,036.00

      Trading and investment securities                 1,200,000.00   1,224,000.00   1,248,480.00

                                                       6,011,600.00 6,516,760.00 7,070,516.00
 Interest expense

      Deposit liabilities                                40,530.00       41,340.60     42,167.41


 Net Interest Income                                   5,971,070.00 6,475,419.40 7,028,348.59

 Provisions for Probable Losses                          477,243.16     477,243.16    477,243.16

 Net Interest Income After Provision for
   Probable Losses                                     5,493,826.84 5,998,176.24 6,551,105.43




199
Other income

      Service income                          435,200.00     478,720.00     526,592.00



                                              435,200.00     478,720.00     526,592.00
 Other expenses

       Salaries (Sched 6)                     2,215,200.00   2,259,504.00   2,304,694.08

       Utilities (Sched 8)                      261,000      266,220.00     271,544.40

       Taxes and Licenses (Sched 3)            20,257.02      20,473.44      20,882.91

       Advertising and Promotions (Sched 9)    23,000.00       7,000.00       7,000.00

       Stationery and Supplies (Sched 7)       18,381.39      18,577.77      18,949.33

       Insurance (PDIC)                       1,000,000.00   1,100,000.00   1,210,000.00

       Depreciation (Sched 1 and 2)           334,108.85     334,108.85     334,108.85

       Benefits (Sched 6)                     164,478.00     165,228.00     167,502.00

       Rent expense                           264,000.00     264,000.00     264,000.00

       Transportation and Travelling           12,000.00      12,000.00      12,000.00

       Repairs and Maintenance (Sched 4)        3,885.75       3,963.47       4,042.73

200
      Entertainment, Amusement, and Recreation    12,000.00      12,000.00      12,000.00

                                                 4,328,311.01 4,463,075.53 4,626,724.30


Net Income Before Income Tax                     1,600,715.84   2,013,820.72   2,450,973.13

 Income tax (30%)                                 480,214.75    604,146.22     735,291.94

 Net Income After Income Tax                     1,120,501.08 1,409,674.50 1,715,681.19




201
                                                JFINEXA SAVINGS BANK

                                                  INCOME STATEMENT

                                          Projected Income Statement for 5-years



                                                                  2014                2015

 Interest Income

      Receivables from customers                               6,404,239.60        7,044,663.56

      Trading and investment securities                        1,273,449.60        1,298,918.59

                                                              7,677,689.20         8,343,582.15
 Interest expense

      Deposit liabilities                                       43,010.76           43,870.98


 Net Interest Income                                          7,634,678.44         8,299,711.18

 Provisions for Probable Losses                                477,243.16           477,243.16

 Net Interest Income After Provision for
   Probable Losses                                            7,157,435.28         7,822,468.02




202
 Other income

      Service income                          579,251.20     637,176.32



                                              579,251.20     637,176.32
 Other expenses

       Salaries (Sched 6)                     2,350,787.96   2,397,803.72

       Utilities (Sched 8)                    276,975.29     282,514.79

       Taxes and Licenses (Sched 3)            21,300.57      21,726.58

       Advertising and Promotions (Sched 9)     7,000.00      7,000.00

       Stationery and Supplies (Sched 7)       19,328.31      19,714.88

       Insurance (PDIC)                       1,331,000.00   1,464,100.00

       Depreciation (Sched 1 and 2)           334,108.85     334,108.85

       Benefits (Sched 6)                     168,252.00     170,520.00

       Rent expense                           264,000.00     264,000.00

       Transportation and Travelling           12,000.00      12,000.00

       Repairs and Maintenance (Sched 4)        4,123.59      4,206.06

203
      Entertainment, Amusement, and Recreation    12,000.00       12,000.00

                                                 4,800,876.57   4,989,,694.88


 Net Income Before Income Tax                    2,935,809.93   3,469,949.46

 Income tax (30%)                                 880,742.97    1,040,984.84

 Net Income After Income Tax                     2,055,066.94   2,428,964.62




204
                                            JFINEXA SAVINGS BANK
                                                 BALANCE SHEET
                                        Projected Balance Sheet for 5-years
 Current Assets                                        2011               2012          2013

      Cash                                        11,913,964.69     13,341,183,81   15,341,183.81

      Prepaid Insurance                            200,000.00         200,000.00     200,000.00

      Prepaid Rent                                  44,000.00         44,000.00      44,000.00

      Due from Bangko Sentral ng Pilipinas        4,000,000.00       4,200,000.00   4,410,000.00

      Equity Investment                           4,000,000.00       4,200,000.00   1,410,000.00

      Allowance for doubtful accounts              240,580.00         264,638.00     291,101.80

                                                  19,917,384.69     21,720,545.81   23,830,688.30
 Non-current Assets

      Furniture & Fixtures (Sched 2)               126,935.00         126,936.00     126,935.00

      Less: Accumulated Depreciation                25,387.00         50,774.00      76,161.00

      Machinery & Equipment (Sched 1)             1,543,609.25       1,543,609.25   1,543,609.25

      Less: Accumulated Depreciation               308,721.85         617,443.70     926,165.55

                                                   1,336,435.40      1,002,326.55    668,217.70
 TOTAL ASSETS                                     21,253,820.09     22,722,872.36   24,498,906.00

205
 Liabilities and Capital

         Savings deposits         530.00          583.00          641.30

         Time deposits           40,000.00       44,000.00       48,400.00

         Utilities payable       22,152.09       22,185.00       22,628.70

         Licenses payable         1,703.59       1,706.12        1,740.24

         Benefits payable        13,706.50       13,769.00       13,958.50

                                78,092.18       82,243.12       87,368.74

 Capital

      Paid In                  20,000,000.00   21,175,727.91   22,640,629.24

      Retained Earnings         1,175,727.91    1,464,901.33    1,770,908.02

                               21,175,727.91   22,640,629.24   24,411,537.25

 TOTAL LIABILITIES & CAPITAL   21,253,820.09   22,722,872.36   24,498,906.00




206
                                            JFINEXA SAVINGS BANK
                                                 BALANCE SHEET
                                        Projected Balance Sheet for 5-years
 Current Assets                                          2014                   2015

      Cash                                          17,095,756.90        19,489,109.06

      Prepaid Insurance                               200,000.00              200,000.00

      Prepaid Rent                                     44,000.00              44,000.00

      Due from Bangko Sentral ng Pilipinas           4,630,500.00         4,868,025.00

      Equity Investment                              4,630,500.00         4,868,025.00

      Allowance for doubtful accounts                 320,211.98              352,233.18

                                                    26,280,544.92        29,104,925.89
 Non-current Assets

      Furniture & Fixtures (Sched 2)                  126,935.00              126,935.00

      Less: Accumulated Depreciation                  101,548.00              126,935.00

      Machinery & Equipment (Sched 1)                1,543,609.25         1,543,609.25

      Less: Accumulated Depreciation                 1,234,887.40         1543,609.25

                                                      334,108.86              -
 TOTAL ASSETS                                       26,614,653.77       29,104,925.89

207
 Liabilities and Capital

         Savings Deposits         705.43          775.97

         Time Deposits           53,240.00       58,564.00

         Utilities payable       23,081.27       23,542.90

         Licenses payable        1,775.05         1,810.55

         Benefits payable        14,021.00       14,210.00

                                92,822.75       98,903.42

 Capital

      Paid In                  24,411,537.25   26,521,831.02

      Retained Earnings         2,110,293.76    2,484,191.44

                               26,521,831.02   29,006,022.46

 TOTAL LIABILITIES & CAPITAL
                               26,614,653.77   29,104,925.89




208
                                               JFINEXA SAVINGS BANK

                                             STATEMENT OF CASH FLOW


                                               2011             2012               2013              2014              2015


 Cashflow from Operation
      Net Income (loss)                       1,175,727.91    1,464,901.33       1,770,908.02      2,110,293.76      2,484,191.44
      Depreciation                           334,108.85       334,108.85         334,108.85        334,108.85        334,108.85
      Doubtful accounts                      240,580.00        24,058.00          26,463.80         29,110.18         32,021.20
      Prepaid Rent                            44,000.00            -                  -                 -                 -
      Prepaid Insurance                      200,000.00                     -                 -                 -                 -
      Due from BSP                          4,000,000.00      200,000.00         210,000.00        220,500.00        231,525.00
      Equity investments                    4,000,000.00      200,000.00         210,000.00        220,500.00        231,525.00
      Savings Deposits                           530.00            53.00              58.30             64.13             70.54
      Time Deposits                           40,000.00         4,000.00           4,400.00          4,840.00          5,324.00
      Utilities Payable                       22,152.09            32.91             443.70            452.57            461.63
      Benefits payable                        13,706.50            62.50             189.50             62.50            189.00
      Licenses Payable                         1,703.59                2.53           34.12             34.80             35.50
         Net Cash Used from Operating   -   6,415,491.06     1,427,219.12       1,716,606.29      2,037,966.80      2,393,352.16


 Cashflow from Investing
      Machinery and Equipment               (1,543,609.25)              -                 -                 -                 -
      Furniture & Fixtures                    (126,935.00)              -                 -                 -                 -
         Net Cash Used in Investing         (1,670,544.25)              -                 -                 -                 -

209
 Cashflow from Financing
      Equity                          20,000,000.00               -               -               -               -
         Net Cash Used in Financing   20,000,000.00
                                                                  -               -               -               -


 TOTAL                                  11,913,964.69    1,427,219.12    1,716,606.29    2,037,966.80    2,393,352.16


 Cash Balance Beginning                        -        11,913,964.69   13,341,183.81   15,057,790.10   17,095,756.90
 Cash Balance Ending                    11,913,964.69   13,341,183.81   15,057,790.10   17,095,756.90   19,489,109.06




210
FINANCIAL RATIOS

                                        2011             2012              2013            2014             2015

BREAKEVEN
ANALYSIS


            Total Fixed Costs       1,670,544.25   1,670,544.25        1,670,544.25    1,670,544.25    1,670,544.25
   BREAK-
    EVEN           Variable
  REVENUE           Costs
            1-                         23.82%           28.59%            32.70%          36.52%           40.02%
                   Revenue


                                    7,011,974.30 5,842,478.14          5,108,019.21    4,574,406.49    4,174,209.50



                    Total Current
CURRENT                 Assets         12,113,964.69 13,541,183.81 15,257,790.10 17,295,756.90 19,689,109.06
RATIO               Total Current
                      Liabilities      40,530.00        44,583.00       49,041.30      53,945.43      59,339.97

                                               298.89         303.73          311.12         320.62          331.80


ACID TEST        Total Quick Assets    11,913,964.69 13,341,183.81 15,057,790.10 17,095,756.90 19,489,109.06
RATIO              Total Current
                     Liabilities       40,530.00        44,583.00       49,041.30      53,945.43      59,339.97

                                               293.95         299.24          307.04         316.91          328.43
211
                                      2011               2012               2013               2014            2015


       OPERATING
                   Operating Income   1,679,611.30     2,092,716.18      2,529,868.60    3,014,705.38    3,548,844.92
        INCOME
       RETURN ON     Total Assets
      INVESTMENT
                                      21,253,820.09 22,722,872.36        24,498,906.00 26,614,653.77 29,104,925.89

                                                  8%               9%             10%             11%                12%


      OPERATING
                   Operating Income   1,679,611.30     2,092,716.18      2,529,868.60    3,014,705.38    3,548,844.92
        PROFIT
       MARGIN         Revenue
                                      5,682,000.00     6,250,200.00      6,875,220.00    7,562,742.00    8,319,016.20

                                               30%                 33%            37%             40%                43%



                   Operating income   1,679,611.30     2,092,716.18      2,529,868.60    3,014,705.38    3,548,844.92
 TIMES INTEREST
  EARNED RATIO     interest expense
                                      40,530.00        41,340.60         42,167.41       43,010.76       43,870.98

                                              41.44            50.62             60.00           70.09               80.89




212
 RETURN ON
   EQUITY                 Net Income          1,175,727.91   1,464,901.33   1,770,908.02    2,110,293.76   2,484,191.44
                            Capital
                                              20,000,000.0   21,175,727.9   22,640,629.2    24,411,537.2   26,521,831.0
                                              0              1              4               5              2

                                                       6%             7%             8%              9%             9%

  INTERNAL               Net Income           1,175,727.91   1,464,901.33   1,770,908.02    2,110,293.76   2,484,191.44
   RATE OF               Ave.Owners'
   RETURN                   Equity            20,000,000.0   21,175,727.9   22,640,629.2    24,411,537.2   26,521,831.0
                                              0              1              4               5              2
- based on Rate of Return on Owner's Equity
                                                    5.88%          6.92%           7.82%          8.64%          9.37%




                                    PAYBACK                Investment
                                    PERIOD                  Required        20,000,000.00
                                                         Net Annual cash    11,913,964.69
                                                              Flow


                                                                            1.68



                                        Payback period is 1 year and 8 months only.


213
                                                Net Cash                  PV of Cash
                              Year                               PVF
      NET PRESENT                               Inflows                    Inflows
      VALUE
                                1          11,913,964.69 0.800           9,531,171.75
      based on 25%
                                2          13,341,183.81 0.640           8,538,357.64
      assumption of
      Cost of Capital
                                3          15,057,790.10 0.512           7,709,588.53
      as per
      attached
                                4          17,095,756.90 0.410           7,009,260.33
      Present Value
      table
                                5          19,489,109.06 0.328           6,392,427.77
                                           Total Present Value of Cash
                                           Inflows                       39,180,806.02

                                           Less: Cost of Investments     20,000,000.00

                                           Net Present Value             19,180,806.02


        PROFITABILITY        Present Value(s)    39,180,806.02
           INDEX
                                 Capital         20,000,000.00

                                                   =   1.96


              The proposed business is feasible since the computed profitability index is greater


        than 1.0. Therefore, the project is accepted.
214

				
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