(Profitability Ratio)What is the Price Earnings Ratio in 2020? FRUITAS HOLDINGS, INC.(A Subsidiary of LUSH PROPERTIES, INC.)AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CHANGES IN EQUITYYears Ended December 31Number of SharesAmountNote202020192018202020192018Capital StockBalance at beginning of year171,600,000,000533,680,000P160,000,00053,368,0002,133,680,0001,600,000,000P213,368,000P160,000,000IssuancesBalance at end of year2,133,680,0002,133,680.0001.600.000.000213,368,000213,368,000160,000,000Additional Paid-in CapitalBalance at beginning of year177,044 83,רררIssuances777,837,044Balance at end of year7,044ו,777777,837,044Retained EarningsBalance at beginning of yearNet income (loss)266,111,391(48,068,054)(21,336,800)196,706,537158,584,199103,781,012121,527,192100,303,507Cash dividends17(14,000,00(45,500,320)Balance at end of year266,111,391158,584,199Years Ended December 31AmountNote202020192018Other Equity ReservesBalance at beginning of yearAcquisition of a subsidiaryBalance at end of year4.55,192,582(3,939,803)55,192,58255,192,58251,252,77955,192,58255,192,582Other Comprehensive LossBalance at beginning of year16(914,455)(46,288)(46,288)Remeasurement loss on net retirementbenefits liability, net of deferred taxBalance at end of year(868,167)(914,455)(914,455)(46,288)P1,238,249,905P1,311,594,562P373,730,493See accompanying Notes to Consolidated Financial Statements.Capital StockThis account consists of:Number of SharesAmount202020192018202020192018Authorized Capital StockCommon - P0.10 par valueBalance at beginning of year5,000,000,000(300,000,000)4,700,000,0004,700,000,0004,700,000,000P470,000,000P470,000,000P500,000,000(30,000,000)Reclassification to preferred stockBalance at end of year4,700,000,0004,700,000,000470,000,000470,000,000470,000,000Preferred - PO.01 par valueBalance at beginning of year3,000,000,0003,000,000,00030,000,00030,000,0003,000,000,0003,000,000,0007,700,000,000Reclassification from common stock30,000,0003,000,000,0007,700,000,00030,000,000P500,000,000Balance at end of year30,000,000P500,000,0003,000,000,00030,000,0007,700,000,000P500,000,000Issued and Outstanding- CommonBalance at beginning of yearP160,000,0001,600,000,000533,680,0002,133,680,0001,600,000,000P213,368,000P160,000,000Issuances53,368,000160,000,000P160,000,000Balance at end of year2,133,680,0002,133,680,0001,600,000,000213,368,000213,368,000P213,368,000P213,368,000 Years Ended December 31Note202020192018REVENUE18P891,847,222 P1,945,184,563 P1,579,205,736DIRECT COSTS19(356,478,659) (814,396,877) (665,367,430)GROSS PROFIT535,368,563 1,130,787,686913,838,306SELLING AND DISTRIBUTION EXPENSES20(493,018,940)(772,051,259) (635,395,313)GENERAL AND ADMINISTRATIVE EXPENSES21(121,155,301)(182,220,088)(131,451,739)INTEREST EXPENSE13(20,658,602)(38,664,963)(16,065,157)OTHER INCOME – Net2226,788,9207,890,9942,556,365GAIN FROM BARGAIN PURCHASE46,436,907INCOME (LOSS) BEFORE INCOME TAX(72,675,360)145,742,370139,919,369PROVISION FOR (BENEFIT FROM) INCOME TAX24Current19,794,400(44,401,706)44,884,66443,339,450(20,669,486)24,215,178Deferred(3,723,588)(24,607,306)39,615,862NET INCOME (LOSS)(48,068,054)121,527,192100,303,507OTHER COMPREHENSIVE LOSSItem not to be reclassified to profit or lossRemeasurement loss on retirement benefitsliability (net of deferred income tax)16(868,167)TOTAL COMPREHENSIVE INCOME (LOSS)ATTRIBUTABLE TO THE PARENT COMPANY(248,068,054) P120,659,025P100,303,507Basic and Diluted Earnings (Loss) per Share25(P0.0225)PO.0739PO.0627See accompanying Notes to Consolidated Financial Statements.: RevenueThis account consists of:Note202020192018Net salesP872,989,41113,204,2755,653,536P1,904,664,106P1,533,709,139Franchise fees2332,956,17136,055,210Rental income237,564,2869,441,387P891,847,222 P1,945,184,563P1,579,205,736The Group recognizes revenue from sales of goods and services upon delivery to customers or at apoint in time when the Group has no more obligations that could affect the acceptance of goods bythe customers.Details of the Group's revenue based on geographical markets are as follows:Note202020192018Sale of goods:LuzonP663,801,125163,309,75245,878,534P1,534,613,722 P1,267,576,409273,436,99296,613,392Visayas189,588,562Mindanao76,544,168872,989,4111,904,664,1061,533,709,139Franchise fees2332,956,171P1,937,620,277 P1,569,764,34913,204,27536,055,210P886,193,686. Direct CostsThis account consists of:Note202020192018Direct materials used72305,734,523P726,901,305P590,119,121Salaries, wages and otheremployee benefitsDepreciation and amortization30,967,80662,214,29554,426,2421,793,4061,703,5801015,296,27017,449,4822,362,7162,117,344Taxes and licenses1,834,302Utilities5,997,4935,554,421Rental2311,770,6602356,478,659P814,396,877P665,367,430Salaries, wages and other employee benefits pertain to outside services and salaries and wages ofpersonnel performing tasks directly related to the production of merchandise inventories.

Answered: (Profitability Ratio) What is the Price…

Business

Accounting

(Profitability Ratio) What is the Price Earnings Ratio in 2020?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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