PT PALU GADA

TRIAL BALANCE
31 DECEMBER 2015 and 2014

2015 2014 Persenta

Acc # Account Name Debit Credit Debit Credit Selisih Akun se (%)
1000 Cash and Bank
1001 Cash on Hand 43,736,950 74,183,500 (30,446,550) -41%
1002 Cash in Bank - Permata 1,720,956,876 1,452,802,236 268,154,640 18%
1003 Cash in Bank - BNI 36,182,025 8,382,480 27,799,545 332%
1100 Account Receivable 3,138,132,040 1,510,510,769 1,627,621,271 108%
1110 Others Receivable -
1200 Inventory 3,086,101,647 3,464,407,659 (378,306,012) -11%
1410 Prepaid Rent 510,000,000 450,000,000 60,000,000 13%
1420 Prepaid Insurance 397,000,000 219,000,000 178,000,000 81%
1500 Security Deposit 25,327,995 18,420,360 6,907,635 38%
1600 Advance Payment 345,270,255 519,142,401 (173,872,146) -33%
1700 Plant Assets -
1701 Building 2,800,000,000 1,800,000,000 1,000,000,000 56%
1702 Equipment 101,300,000 71,300,000 30,000,000 42%
1703 Office Furniture 55,000,000 45,600,000 9,400,000 21%
1704 Vehicle 355,125,000 350,000,000 5,125,000 1%
1705 Property Investment -
1710 Acc Depreciation Plant Asset -
1711 Acc Depreciation Building 90,000,000 90,000,000 - 0%
1712 Acc Depreciation Equipment 14,425,000 14,425,000 - 0%
1713 Acc Depreciation Office Furniture 22,800,000 22,800,000 - 0%
1714 Acc Depreciation Vehicle 156,250,000 156,250,000 - 0%
1715 Acc Depreciation Property Investment -
2100 Account Payable 374,181,050 1,647,824,400 (1,273,643,350) -77%
2105 Other Current Payable 50,000,000 50,000,000
2200 Accrued Expenses 17,176,500 5,758,314 11,418,186 198%
2300 Advance Receipt 546,365,000 1,244,000,000 (697,635,000) -56%
2400 Unearned Revenue 150,000,000 150,000,000
2500 Bank Loan 1,200,000,000 1,200,000,000
3000 Share Capital 5,550,000,000 5,550,000,000 - 0%
3001 Retained Earning 1,252,691,691 1,252,691,691
4000 Revenue -
4100 Sales 7,977,589,499 5,503,775,725 2,473,813,774 45%
4200 Interest Revenue -
4300 Other Revenue -
5000 Cost of Sales 4,373,272,375 2,953,007,461 1,420,264,914 48%
6000 Sales and General Administration Exp -
6100 Sales Expense -
6105 Sales Incentive 6,667,320 5,341,280 1,326,040 25%
6106 Sales Incentive - Director 9,984,810 9,682,560 302,250 3%
6200 General and Administration Expense -
6210 Employee Salary and Benefit -
6211 Salaries, Overtime & THR Expense 48,183,795 47,072,640 1,111,155 2%
6212 Salaries, Overtime & THR Expense - Director 63,567,660 60,736,280 2,831,380 5%
6213 Bonus and Compensation Expense 2,788,500 2,588,500 200,000 8%
6214 Bonus and Compenation Expense - Director 14,388,000 13,880,000 508,000 4%
6215 Meal and Catering 9,149,415 3,500,000 5,649,415 161%
6216 Employee Medical Expense 12,304,390 11,954,600 349,790 3%
6217 Employee Insurace Expense 2,886,675 3,139,520 (252,845) -8%
6220 Depreciation and Amortization -
6221 Depreciation and Expense Building 90,000,000 (90,000,000) -100%
6222 Depreciation Expense Equipment 14,425,000 (14,425,000) -100%
6223 Depreciation Expense Office Furniture 22,800,000 (22,800,000) -100%
6224 Depreciation Expense Vehicle 156,250,000 (156,250,000) -100%
6225 Depreciation Expense Property Investment -
6230 Utilization, Adm, Rent & Other Expense -
6231 Electricity Expense 38,996,997 28,097,297 10,899,700 39%
6232 Telecommunication Expense 5,756,643 7,441,263 (1,684,620) -23%
6233 Expedition, Post & Stamp Expense 2,628,615 41,320,920 (38,692,305) -94%
6234 Travelling Expense 17,196,300 29,273,760 (12,077,460) -41%
6235 Consultant Expense 9,237,195 11,037,960 (1,800,765) -16%
6236 Rent Expense 9,000,000 458,000,000 (449,000,000) -98%
6237 Insurance Expense 147,000,000 (147,000,000) -100%
6238 Office Supplies Expense 30,632,054 32,469,600 (1,837,546) -6%
6239 Pantry Expense 2,526,680 2,692,760 (166,080) -6%
6240 Car Rental Expense 7,445,130 8,261,820 (816,690) -10%
6241 Advertising Expense 14,386,595 6,635,880 7,750,715 117%
6242 Fuel, Parking & Tol 1,705,935 1,863,960 (158,025) -8%
6243 Transportation Expense 962,280 699,840 262,440 38%
6244 Repair Expense 250,000 125,000 125,000 100%
6245 Others General & Adm Expense 2,319,735 17,131,440 (14,811,705) -86%
7000 Other Income (Expense) -
7100 Foreign Exhange Gain or Loss 5,980,260 4,061,040 1,919,220 47%
7200 Interest Expense 105,797,100 68,366,273 37,430,827 55%
7300 Bank Adm Expense 1,292,013 1,350,000 (57,987) -4%

PT. PALU GADA

Statement of Income
For the years ended 31 December 2015 and 2014
In Rupiah Amount

2015 2014 Selisih Akun Persentase

Net Sales 7,977,589,499 5,503,775,725 2,473,813,774 45%
Cost of Sales (4,373,272,375) (2,953,007,461) (1,420,264,914) 48%
Gross Profit 3,604,317,124 2,550,768,264 1,053,548,860 41%
Operating Expense
 Sales Expense (16,652,130) (15,023,840) (1,628,290) 11%
Depreciation and Amortization - (283,475,000) 283,475,000 -100%
Employee Salary and Benefit (153,268,435) (141,871,540) (11,396,895) 8%
Utilization, Adm, Rent & Others Expense (143,044,159) (792,050,960) 649,006,801 -82%
Total Operating Expenses (312,964,724) (1,232,421,340) 919,456,616 -75%
Income from Operation 3,291,352,400 1,318,346,924 1,973,005,476 150%
Other Income and Expenses
Other Income
Foreign Exchange Gain 5,980,260 4,061,040 1,919,220 47%
Other Expenses
Interest Expense (105,797,100) (68,366,273) (37,430,827) 55%
Bank Adm Expense (1,292,013) (1,350,000) 57,987 -4%
Total Other Expenses (107,089,113) (69,716,273) (37,372,840) 54%
Total Other Income and Expenses (101,108,853) (65,655,233) (35,453,620) 54%

Net Income 3,190,243,547 1,252,691,691 1,937,551,856 155%

PT PALU GADA
Statement of Changes in Shareholders' Equity
Years Ended 31 December 2015 and 2014
in Rupiah Amount
Retained Total.Shareholde
Share Capital Earnings rs Equity
Balance as of 31 December 2013 5,550,000,000 5,550,000,000
Net Income for the year ended 31 Dec 2014 1,252,691,691 1,252,691,691
Balance as of 31 December 2014 5,550,000,000 1,252,691,691 6,802,691,691
-
Net income for the year ended 31 Dec 2015 3,190,243,547 3,190,243,547
Balance as of 31 December 2015 5,550,000,000 4,442,935,238 9,992,935,238
Peningkatan / Penurunan - 3,190,243,547 3,190,243,547
Persentase 0% 255% 47%

PT PALU GADA
Statement of Financial Position
As of 31 December 2015 and 2014 (In Rupiah)
31 Dec 2015 31 Dec 2014 Selisih Akun Persentase (%)
ASSETS
CURRENT ASSETS
Cash and Bank 1,800,875,851 1,535,368,216 265,507,635 17%
Account Receivable 3,138,132,040 1,510,510,769 1,627,621,271 108%
Others Receivable
Inventory 3,086,101,647 3,464,407,659 (378,306,012) -11%
Prepaid Expenses 907,000,000 669,000,000 238,000,000 36%
Security Deposit 25,327,995 18,420,360 6,907,635 38%
Advance Payment 345,270,255 519,142,401 (173,872,146) -33%
TOTAL CURRENT ASSETS 9,302,707,788 7,716,849,405 1,585,858,383 21%

PLANT ASSETS
Acquisition Cost
Building 2,800,000,000 1,800,000,000 1,000,000,000 56%
Equipment 101,300,000 71,300,000 30,000,000 42%
Office Furniture 55,000,000 45,600,000 9,400,000 21%
Vehicle 355,125,000 350,000,000 5,125,000 1%
Property Investment
Total Acquisition Cost 3,311,425,000 2,266,900,000 1,044,525,000 46%
Accumulated Depreciation
Accumulated Depreciation Building (90,000,000) (90,000,000) 0%
Accumulated Depreciation Equipment (14,425,000) (14,425,000) 0%
Accumuated Depreciation Office Furniture (22,800,000) (22,800,000) 0%
Accumulated Depreciation Vehicle (156,250,000) (156,250,000) 0%
 Accumulated Depreciation Property Investment
Total Accumulated Depreciation (283,475,000) (283,475,000) 0%
Total PLANT ASSETS, net book value 3,027,950,000 1,983,425,000 1,044,525,000 53%

TOTAL ASSETS 12,330,657,788 9,700,274,405 2,630,383,383 27%

LIABILITIES and EQUITIES

LIABILITIES
Current Liabilities
Account Payables 374,181,050 1,647,824,400 (1,273,643,350) -77%
Other Current Liabilities :
Other Current Payable 50,000,000 50,000,000
Accrued Expenses 17,176,500 5,758,314 11,418,186 198%
Advance Receipt 546,365,000 1,244,000,000 (697,635,000) -56%
Unearned Revenue 150,000,000 150,000,000
Total Other Current Liabilities 763,541,500 1,249,758,314 (486,216,814) -39%
Total Current Liabilities 1,137,722,550 2,897,582,714 (1,759,860,164) -61%

Long Term Liabilities 1,200,000,000 1,200,000,000

Total LIABIILITIES 2,337,722,550 2,897,582,714 (559,860,164) -19%

SHAREHOLDER'S EQUITY
Share capital 5,550,000,000 5,550,000,000 0%
Retained Earnings 4,442,935,238 1,252,691,691 3,190,243,547 255%
Total SHAREHOLDER'S EQUITY 9,992,935,238 6,802,691,691 3,190,243,547 47%

Total LIABILITIES and SHAREHOLDERS' EQUITY 12,330,657,788 9,700,274,405 2,630,383,383 27%

ANALISIS RATIO
 2015 2014
a. Liquidity
1. Current Ratio 8 3
2. Acid Test Ratio (Quick Ratio) 5 1
3. Collection Period (days) (258) (184)
4. Days to sell inventory (254) (422)

b. Capital Structure and Solvency

1. Total debt to equity 23% 43%
2. Long Term Debt to Equity 12% 0%

c. Return on Investment
1. Return on Asset 19% 9%
2. Return on common equity 32% 18%

d. Operating Performance
1. Gross Profit Margin 45% 46%
2. Net Profit Margin 40% 23%

e. Asset Utilization
1. Cash Turnover 4.4298 3.5847
2. Account Receivable Turnover 2.5421 3.6437
3. Inventory Turnover 1.4171 0.8524
4. PPE Turnover 2.6347 2.7749
5. Total assets turnover 0.6470 0.5674