General Directions: Show your complete solution. Use the back page if needed. Write your answer on the space provided.

TEST I: Using the data provided below, compute for the Statutory Reserves.

Assumptions On Operation

$\backslash$table$[[$Interest Income on Loan,P$368,551\mathrm{.}00],[$Service Fees,P$17,282\mathrm{.}00],[$Membership Fees,P$3,500\mathrm{.}00],[$Gross Surplus,P$389,333\mathrm{.}00],[$Less: Operating Expenses,P$189,750\mathrm{.}00],[$Net Surplus for Allocation and Distribution,P$199,583\mathrm{.}00]]$

Allocation of Net Surplus

Reserve Fund $(15\%)$

Education and Training Fund $(10\%)$

Due to CETF

Local ETF

Community Dev't Fund $(5\%)$

Optional Fund $(5\%)$

$\backslash$table$[[],[],[],[],[]]$

Allocation of Remainder for IOSC and Pat. Refund

Interest on Share Capital

Patronage Refund

Net Surplus Allocated and Distributed

uming:

Interest on Share Capital $($X$)60\%$

Patronage on Share Capital $($Y$)40\%$

TEST II: Using the data provided below, compute for the Interest on Share Capital $($IOSC$)$ and

Patronage Refund.