Financial Statements

DE ORO FARMERS ASSOCIATION, INC.

Socorro, Surigao del Norte

SEC Reg.No.180266

INCOME STATEMENT

For the year ended December 31, 2010

INCOME:

Cash balance forwarded as of last year ———————————-      1, 750.00

Membership fees ————————————————————   18, 060.00

Annual dues ——————————————————————     6, 321.00

Donation ———————————————————————-     5, 000.00

Total Income —————————————————————- P 31, 131.00

Less: Operating Expenses:

Office supplies ————————————————————–           700.00

Equipments ——————————————————————       6, 500.00

Light & Power —————————————————————      12, 200.00

Water ————————————————————————-       3, 000.00

Miscellaneous —————————————————————       800.00

NET INCOME —————————————————————- P   7, 931.00

Prepared:                                                                     Verified & Audited by:

DANTE P. DIZON                                                               REMAR A. ELANDAG

Treasurer                                                                                      Auditor

MARIETTA G. CULATA

Auditor

Approved by:

FERNANDO E. PIAO

President

SUBSCRIBED AND SWORN TO before me this ______ day ____________2011 at Surigao City, Philippines, affiant exhibiting to me his Community Tax Certificate No. ____________ issued on ___________ at Socorro, Surigao del Norte.

Doc. No.________

Page No. ________

Book No. _______

Series of ________

DE ORO FARMERS ASSOCIATION, INC.

Socorro, Surigao del Norte

SEC Reg.No.180266

BALANCE SHEET

For the year ended December 31, 2010

ASSETS

CURRENT ASSETS:

Cash ————————————————————————         P 7, 731.00

FIXED ASSETS:

Land and improvement ————————————————-          80, 000.00

Farm Equipment ———————————————————         100, 000.00

Bunk house/building —————————————————–        500, 000.00
Water electric motor/accessories —————————————         60, 000.00

TOTAL ASSETS ————————————————————   P 747, 731.00

Prepared:                                                                     Verified & Audited by:

DANTE P. DIZON                                                               REMAR A. ELANDAG

Treasurer                                                                                      Auditor

MARIETTA G. CULATA

Auditor

Approved by:

FERNANDO E. PIAO

President

SUBSCRIBED AND SWORN TO before me this ______ day ____________2011 at Surigao City, Philippines, affiant exhibiting to me his Community Tax Certificate No. ____________ issued on ___________ at Socorro, Surigao del Norte.

Doc. No.________

Page No. ________

Book No. _______

Series of ________