ears Ended Decenmber 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 Current Deferred 24 19,794,400 44,884,664 43,339,450 (3,723,588) (44,401,706) (24,607,306) (20,669,486) 24,215,178 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 P0,0627 See accompanying Notes to Consolidated Financial Statements. Revenue This account consists of: Note 2020 2019 2018 Net sales R872,989,411 P1,904,664,106 P1,533,709,139 13,204,275 5,653,536 Franchise fees 23 32,956,171 36,055,210 Rental income 23 7,564,286 9,441,387 2891,847,222 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: P663,801,125 163,309,752 45,878,534 P1,534,613,722 P1,267,576,409 273,436,992 Luzon Visayas Mindanao 189,588,562 96,613,392 76,544,168 872,989,411 13,204,275 1,904,664,106 1,533,709,139 Franchise fees 23 32,956,171 36,055,210 P886,193,686 P1,937,620,277 P1,569,764,349 Direct Costs This account consists of: Note 2020 2019 2018 Direct materials used 2305,734,523 P726,901,305 P590,119,121 Salaries, wages and other employee benefits Depreciation and amortization Taxes and licenses 30,967,806 15,296,270 2,362,716 2,117,344 62,214,295 54,426,242 10 17,449,482 1,793,406 1,834,302 5,997,493 1,703,580 Utilities 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.
ears Ended Decenmber 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 Current Deferred 24 19,794,400 44,884,664 43,339,450 (3,723,588) (44,401,706) (24,607,306) (20,669,486) 24,215,178 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 P0,0627 See accompanying Notes to Consolidated Financial Statements. Revenue This account consists of: Note 2020 2019 2018 Net sales R872,989,411 P1,904,664,106 P1,533,709,139 13,204,275 5,653,536 Franchise fees 23 32,956,171 36,055,210 Rental income 23 7,564,286 9,441,387 2891,847,222 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: P663,801,125 163,309,752 45,878,534 P1,534,613,722 P1,267,576,409 273,436,992 Luzon Visayas Mindanao 189,588,562 96,613,392 76,544,168 872,989,411 13,204,275 1,904,664,106 1,533,709,139 Franchise fees 23 32,956,171 36,055,210 P886,193,686 P1,937,620,277 P1,569,764,349 Direct Costs This account consists of: Note 2020 2019 2018 Direct materials used 2305,734,523 P726,901,305 P590,119,121 Salaries, wages and other employee benefits Depreciation and amortization Taxes and licenses 30,967,806 15,296,270 2,362,716 2,117,344 62,214,295 54,426,242 10 17,449,482 1,793,406 1,834,302 5,997,493 1,703,580 Utilities 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.
Chapter1: Financial Statements And Business Decisions
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