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

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Increase was due to higher trade and accrued expenses, refundable deposits. This account stood at
4% and 3% as a percentage of total liabilities and equity in 2010 and 2009, respectively.
Advances from related parties – 16% decrease to P168 million from P201 million
The decrease was due to payments made during the period. This account stood at 2% as a
percentage of total liabilities and equity for both years.
Estimated liability for land and land development costs – no change
There was no movement during the period. This account represented 1% as a percentage of total
liabilities and equity for both years.
Income tax payable –amounted to P44 million as of December 31, 2010 from P4 million as of
December 31, 2009
Mainly from higher provision for income tax. This account was pegged at 0.41% and 0.05% of
the total liabilities and equity in 2010 and 2009, respectively.
Non-current interest-bearing loans – 100% decrease to none from P135 million
The decrease was mainly due to reclassification of non-current loans to current for financial
statement presentation since Fil-Dragon was not able to comply with the debt to equity ratio
covenant. This accounted for the 1% of the total liabilities and equity in 2009.
Non-current refundable deposits – 37% increase to P15 million from P11 million
The increase was mainly due to additional deposits received during the year. This represented
0.14% and 0.10% of the total liabilities and equity in 2010 and 2009, respectively.
Retirement benefit obligation – 110% increase to P3 million from P1 million
Mainly from higher present value of obligation. This account stood at 0.02% and 0.01% of the
total liabilities and equity in 2010 and 2009, respectively.
Deferred tax liabilities – 3% decrease to P798 million from P825 million
The decrease was principally from lower accumulated fair value gains. This account stood at 8%
as a percentage of total liabilities and equity for both years.
Capital stock – no change
This account stood at 19%of total liabilities and equity in both years.
Additional Paid-In-Capital – no change
This account represented 44% of total liabilities and equity in both years.
Treasury Shares – no change
This account represented 1% of total liabilities and equity in both years.