SEC Form 17-A: Annual Report - the solid group inc website

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Principally due to other comprehensive income for the period consisting of currency differences
on translating financial statements of foreign operations, fair value gains on available for sale
financial assets and reclassification adjustments for losses recognized in profit or loss. This
account stood at .25%% and 0.41% total liabilities and equity in 2011 and 2010, respectively.
Retained earnings – 37%% increase to P1.623 million from P1.183 million
As a result of net income during the period. This account stood at 13.85% and 11% of total
liabilities and equity in 2011 and 2010, respectively.
Balance Sheet Items (2010 vs. 2009)
(Increase or decrease of 5% or more in the financial statements)
Cash and cash equivalents – 28% increase to P1,620 million from P1,263 million
Mainly provided by financing activities from proceeds of loans, by operating activities primarily
from increase in receivables and inventories and by investing activities for acquisition of property
and equipment. This account stood at 15% and 13% as a percentage of total assets in 2010 and
2009, respectively.
Trade and other receivables – 78% increase to P890 million from P501 million
Mainly from increase in trade receivables on digital products. This account stood at 8% and 5%
as a percentage of total assets in 2010 and 2009, respectively.
Available-for-sale financial assets – 55% decrease to P138 million from P305 million
The decrease was principally due to disposal of financial assets. This account stood at 1% and 3%
as a percentage of total assets in 2010 and 2009, respectively.
Merchandise inventories and supplies – 371% increase to P392 million from P83 million
Mainly from higher merchandise and finished goods for digital products. This account
represented 4% and 1% as a percentage of total assets in 2010 and 2009, respectively.
Real estate inventories – 27% increase to P1,328 million from P1,046 million
The increase was mainly due to additions made during the period offset by real estate sold. This
account stood at 12% and 11% as a percentage of total assets in 2010 and 2009, respectively.
Advances to related parties - 60% decrease in 2010 to P201 million from P504 million
Mainly from additional advances. This account stood at 2% and 5% as a percentage of total
assets in 2010 and 2009, respectively.
Other current assets – 19% decrease in 2010 to P242 million from P299 million
Principally from lower advances to suppliers and contractors. This account stood at 2% and 3% as
a percentage of total assets in 2010 and 2009, respectively.