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Accounting
Return on Common Stock

Return on Common Stock

FINANCIAL ACCOUNTING
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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(Profitability Ratio)
What is the Return on Common Stock in 2020? 

FRUITAS HOLDINGS, INC. (A Subsidiary of LUSH PROPERTIES, INC.) AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Years Ended December 31 Number of Shares Amount Note 2020 2019 2018 2020 2019 2018 Capital Stock Balance at beginning of year 17 1,600,000,000 533,680,000 P160,000,000 53,368,000 2,133,680,000 1,600,000,000 P213,368,000 P160,000,000 Issuances Balance at end of year 2,133,680,000 2,133,680.000 1.600.000.000 213,368,000 213,368,000 160,000,000 Additional Paid-in Capital Balance at beginning of year 17 7,044 83,ררר Issuances 777,837,044 Balance at end of year 7,044ו,777 777,837,044 Retained Earnings Balance at beginning of year Net income (loss) 266,111,391 (48,068,054) (21,336,800) 196,706,537 158,584,199 103,781,012 121,527,192 100,303,507 Cash dividends 17 (14,000,00 (45,500,320) Balance at end of year 266,111,391 158,584,199 Years Ended December 31 Amount Note 2020 2019 2018 Other Equity Reserves Balance at beginning of year Acquisition of a subsidiary Balance at end of year 4. 55,192,582 (3,939,803) 55,192,582 55,192,582 51,252,779 55,192,582 55,192,582 Other Comprehensive Loss Balance at beginning of year 16 (914,455) (46,288) (46,288) Remeasurement loss on net retirement benefits liability, net of deferred tax Balance at end of year (868,167) (914,455) (914,455) (46,288) P1,238,249,905 P1,311,594,562 P373,730,493 See accompanying Notes to Consolidated Financial Statements. Capital Stock This account consists of: Number of Shares Amount 2020 2019 2018 2020 2019 2018 Authorized Capital Stock Common - P0.10 par value Balance at beginning of year 5,000,000,000 (300,000,000) 4,700,000,000 4,700,000,000 4,700,000,000 P470,000,000 P470,000,000 P500,000,000 (30,000,000) Reclassification to preferred stock Balance at end of year 4,700,000,000 4,700,000,000 470,000,000 470,000,000 470,000,000 Preferred - PO.01 par value Balance at beginning of year 3,000,000,000 3,000,000,000 30,000,000 30,000,000 3,000,000,000 3,000,000,000 7,700,000,000 Reclassification from common stock 30,000,000 3,000,000,000 7,700,000,000 30,000,000 P500,000,000 Balance at end of year 30,000,000 P500,000,000 3,000,000,000 30,000,000 7,700,000,000 P500,000,000 Issued and Outstanding- Common Balance at beginning of year P160,000,000 1,600,000,000 533,680,000 2,133,680,000 1,600,000,000 P213,368,000 P160,000,000 Issuances 53,368,000 160,000,000 P160,000,000 Balance at end of year 2,133,680,000 2,133,680,000 1,600,000,000 213,368,000 213,368,000 P213,368,000 P213,368,000
Transcribed Image Text:FRUITAS HOLDINGS, INC. (A Subsidiary of LUSH PROPERTIES, INC.) AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY Years Ended December 31 Number of Shares Amount Note 2020 2019 2018 2020 2019 2018 Capital Stock Balance at beginning of year 17 1,600,000,000 533,680,000 P160,000,000 53,368,000 2,133,680,000 1,600,000,000 P213,368,000 P160,000,000 Issuances Balance at end of year 2,133,680,000 2,133,680.000 1.600.000.000 213,368,000 213,368,000 160,000,000 Additional Paid-in Capital Balance at beginning of year 17 7,044 83,ררר Issuances 777,837,044 Balance at end of year 7,044ו,777 777,837,044 Retained Earnings Balance at beginning of year Net income (loss) 266,111,391 (48,068,054) (21,336,800) 196,706,537 158,584,199 103,781,012 121,527,192 100,303,507 Cash dividends 17 (14,000,00 (45,500,320) Balance at end of year 266,111,391 158,584,199 Years Ended December 31 Amount Note 2020 2019 2018 Other Equity Reserves Balance at beginning of year Acquisition of a subsidiary Balance at end of year 4. 55,192,582 (3,939,803) 55,192,582 55,192,582 51,252,779 55,192,582 55,192,582 Other Comprehensive Loss Balance at beginning of year 16 (914,455) (46,288) (46,288) Remeasurement loss on net retirement benefits liability, net of deferred tax Balance at end of year (868,167) (914,455) (914,455) (46,288) P1,238,249,905 P1,311,594,562 P373,730,493 See accompanying Notes to Consolidated Financial Statements. Capital Stock This account consists of: Number of Shares Amount 2020 2019 2018 2020 2019 2018 Authorized Capital Stock Common - P0.10 par value Balance at beginning of year 5,000,000,000 (300,000,000) 4,700,000,000 4,700,000,000 4,700,000,000 P470,000,000 P470,000,000 P500,000,000 (30,000,000) Reclassification to preferred stock Balance at end of year 4,700,000,000 4,700,000,000 470,000,000 470,000,000 470,000,000 Preferred - PO.01 par value Balance at beginning of year 3,000,000,000 3,000,000,000 30,000,000 30,000,000 3,000,000,000 3,000,000,000 7,700,000,000 Reclassification from common stock 30,000,000 3,000,000,000 7,700,000,000 30,000,000 P500,000,000 Balance at end of year 30,000,000 P500,000,000 3,000,000,000 30,000,000 7,700,000,000 P500,000,000 Issued and Outstanding- Common Balance at beginning of year P160,000,000 1,600,000,000 533,680,000 2,133,680,000 1,600,000,000 P213,368,000 P160,000,000 Issuances 53,368,000 160,000,000 P160,000,000 Balance at end of year 2,133,680,000 2,133,680,000 1,600,000,000 213,368,000 213,368,000 P213,368,000 P213,368,000
Years Ended December 31 Note 2020 2019 2018 REVENUE 18 P891,847,222 P1,945,184,563 P1,579,205,736 DIRECT COSTS 19 (356,478,659) (814,396,877) (665,367,430) GROSS PROFIT 535,368,563 1,130,787,686 913,838,306 SELLING AND DISTRIBUTION EXPENSES 20 (493,018,940) (772,051,259) (635,395,313) GENERAL AND ADMINISTRATIVE EXPENSES 21 (121,155,301) (182,220,088) (131,451,739) INTEREST EXPENSE 13 (20,658,602) (38,664,963) (16,065,157) OTHER INCOME – Net 22 26,788,920 7,890,994 2,556,365 GAIN FROM BARGAIN PURCHASE 4 6,436,907 INCOME (LOSS) BEFORE INCOME TAX (72,675,360) 145,742,370 139,919,369 PROVISION FOR (BENEFIT FROM) INCOME TAX 24 Current 19,794,400 (44,401,706) 44,884,664 43,339,450 (20,669,486) 24,215,178 Deferred (3,723,588) (24,607,306) 39,615,862 NET INCOME (LOSS) (48,068,054) 121,527,192 100,303,507 OTHER COMPREHENSIVE LOSS Item not to be reclassified to profit or loss Remeasurement loss on retirement benefits liability (net of deferred income tax) 16 (868,167) TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE PARENT COMPANY (248,068,054) P120,659,025 P100,303,507 Basic and Diluted Earnings (Loss) per Share 25 (P0.0225) PO.0739 PO.0627 See accompanying Notes to Consolidated Financial Statements. : Revenue This account consists of: Note 2020 2019 2018 Net sales P872,989,411 13,204,275 5,653,536 P1,904,664,106 P1,533,709,139 Franchise fees 23 32,956,171 36,055,210 Rental income 23 7,564,286 9,441,387 P891,847,222 P1,945,184,563 P1,579,205,736 The Group recognizes revenue from sales of goods and services upon delivery to customers or at a point in time when the Group has no more obligations that could affect the acceptance of goods by the customers. Details of the Group's revenue based on geographical markets are as follows: Note 2020 2019 2018 Sale of goods: Luzon P663,801,125 163,309,752 45,878,534 P1,534,613,722 P1,267,576,409 273,436,992 96,613,392 Visayas 189,588,562 Mindanao 76,544,168 872,989,411 1,904,664,106 1,533,709,139 Franchise fees 23 32,956,171 P1,937,620,277 P1,569,764,349 13,204,275 36,055,210 P886,193,686 . Direct Costs This account consists of: Note 2020 2019 2018 Direct materials used 7 2305,734,523 P726,901,305 P590,119,121 Salaries, wages and other employee benefits Depreciation and amortization 30,967,806 62,214,295 54,426,242 1,793,406 1,703,580 10 15,296,270 17,449,482 2,362,716 2,117,344 Taxes and licenses 1,834,302 Utilities 5,997,493 5,554,421 Rental 23 11,770,660 2356,478,659 P814,396,877 P665,367,430 Salaries, wages and other employee benefits pertain to outside services and salaries and wages of personnel performing tasks directly related to the production of merchandise inventories.
Transcribed Image Text:Years Ended December 31 Note 2020 2019 2018 REVENUE 18 P891,847,222 P1,945,184,563 P1,579,205,736 DIRECT COSTS 19 (356,478,659) (814,396,877) (665,367,430) GROSS PROFIT 535,368,563 1,130,787,686 913,838,306 SELLING AND DISTRIBUTION EXPENSES 20 (493,018,940) (772,051,259) (635,395,313) GENERAL AND ADMINISTRATIVE EXPENSES 21 (121,155,301) (182,220,088) (131,451,739) INTEREST EXPENSE 13 (20,658,602) (38,664,963) (16,065,157) OTHER INCOME – Net 22 26,788,920 7,890,994 2,556,365 GAIN FROM BARGAIN PURCHASE 4 6,436,907 INCOME (LOSS) BEFORE INCOME TAX (72,675,360) 145,742,370 139,919,369 PROVISION FOR (BENEFIT FROM) INCOME TAX 24 Current 19,794,400 (44,401,706) 44,884,664 43,339,450 (20,669,486) 24,215,178 Deferred (3,723,588) (24,607,306) 39,615,862 NET INCOME (LOSS) (48,068,054) 121,527,192 100,303,507 OTHER COMPREHENSIVE LOSS Item not to be reclassified to profit or loss Remeasurement loss on retirement benefits liability (net of deferred income tax) 16 (868,167) TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE PARENT COMPANY (248,068,054) P120,659,025 P100,303,507 Basic and Diluted Earnings (Loss) per Share 25 (P0.0225) PO.0739 PO.0627 See accompanying Notes to Consolidated Financial Statements. : Revenue This account consists of: Note 2020 2019 2018 Net sales P872,989,411 13,204,275 5,653,536 P1,904,664,106 P1,533,709,139 Franchise fees 23 32,956,171 36,055,210 Rental income 23 7,564,286 9,441,387 P891,847,222 P1,945,184,563 P1,579,205,736 The Group recognizes revenue from sales of goods and services upon delivery to customers or at a point in time when the Group has no more obligations that could affect the acceptance of goods by the customers. Details of the Group's revenue based on geographical markets are as follows: Note 2020 2019 2018 Sale of goods: Luzon P663,801,125 163,309,752 45,878,534 P1,534,613,722 P1,267,576,409 273,436,992 96,613,392 Visayas 189,588,562 Mindanao 76,544,168 872,989,411 1,904,664,106 1,533,709,139 Franchise fees 23 32,956,171 P1,937,620,277 P1,569,764,349 13,204,275 36,055,210 P886,193,686 . Direct Costs This account consists of: Note 2020 2019 2018 Direct materials used 7 2305,734,523 P726,901,305 P590,119,121 Salaries, wages and other employee benefits Depreciation and amortization 30,967,806 62,214,295 54,426,242 1,793,406 1,703,580 10 15,296,270 17,449,482 2,362,716 2,117,344 Taxes and licenses 1,834,302 Utilities 5,997,493 5,554,421 Rental 23 11,770,660 2356,478,659 P814,396,877 P665,367,430 Salaries, wages and other employee benefits pertain to outside services and salaries and wages of personnel performing tasks directly related to the production of merchandise inventories.
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