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Question
From the following Information, prepare Comparative Income Statement of Shri Shalni Ltd.
| Particulars | 2018 ₹ |
2019 ₹ |
| Sales | 6,00,000 | 4,50,000 |
| Sales Return | 1,00,000 | 50,000 |
| Gross Profit ratio | 40% | 50% |
| Office and Admin Expenses |
50,000 | 40,000 |
| Selling and Distribution Expenses |
50,000 | 40,000 |
| Other income | 25,000 | 15,000 |
| Other Expenses | 5,000 | 5,000 |
| Tax rate | 50% | 50% |
Solution
| Comparative Income Statement A/c | |||||
| Particulars | 2018 ₹ |
2019 ₹ |
Absolute change | Precentage change | Increase Or Decrease |
| Gross Sales | 6,00,000 | 4,50,000 | (1,50,000) | 25% | Decrease |
| Less: Sales Return | 1,00,000 | 50,000 | (50,000) | 50% | Decrease |
| 5,00,000 | 4,00,000 | (1,00,000) | (20%) | Decrease | |
| Less: Cost of goods sold | 3,00,000 | 2,00,000 | (1,00,000) | 33.33% | Decrease |
| A Gross Profit | 2,00,000 | 2,00,000 | - | - | |
| Less: Opearting Expense | 2,00,000 | ||||
| Office and Admin. Expenses | 50,000 | 40,000 | 10,000 | 20% | Decrease |
| Selling and Distribution Expenses | 50,000 | 40,000 | 10,000 | 33.33% | Decrease |
| B | 1,00,000 | 80,000 | 20,000 | 20% | Decrease |
| Operating profit | 1,00,000 | 1,20,000 | 20,000 | 20% | Increase |
| Add: Operating income Expenses | 25,000 | 15,000 | (10,000) | 40% | Decrease |
| Less: Non Operating Expenses | 5,000 | 5,000 | - | - | |
| Expenses | 1,20,000 | 1,30,000 | 10,000 | 8.33 | Increase |
| Less: Tax 50% | 60,000 | 65,000 | 5,000 | 8.33 | Increase |
| Net Profit after Tax | 60,000 | 65,000 | 5,000 | 8.33 | Increase |
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| Net Profit after Tax | 10,000 | 14,000 |
