|
|
Statements of Changes in Equity |
| |
Years Ended December 31 |
| |
2007 |
2006 |
| PREFERRED STOCK |
| Balance at beginning of year |
P 2,223,528,100 |
P 2,223,528,100 |
| Balance at end of year |
- |
2,223,528,100 |
| COMMON STOCK |
3,873,528,100 |
150,000,000 |
| SURPLUS RESERVES |
| Balance at beginning of year |
11,332,251 |
8,547,900 |
| Transfer from surplus |
5,033,148 |
2,784,351 |
| Balance at end of year |
16,365,399 |
11,332,251 |
| SURPLUS |
| Balance at beginning of year |
|
|
| As previously reported |
484,986,826 |
561,387,057 |
| Provision of tax contingency |
- |
(71,171,943) |
Provision for impairment and credit
losses |
(369,117,460) |
- |
Derecognition of the DTA on
NOLCO and MCIT |
- |
(129,719,623) |
| As restated |
115,869,366 |
360,495,491 |
| Net Income |
| As previously reported |
137,284,645 |
127,275,686 |
As restated
Transfer to surplus reserve |
137,284,645
(5,033,148) |
127,275,686
(2,784,351) |
| Balance at end of year |
248,120,863 |
484,986,826 |
| Net Accumulated Unrealized Gains on Available-for-Sale Financial Assets |
(14,525,270) |
10,964,610 |
| |
P 4,123,489,092 |
P 2,880,811,787 |
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