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Comparative Income Statement
15 : 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 : Shri Shalini LTD

Comparative income statement

Particulars 2018 (`) 2019 (`) Absolute Precentage Increase
change (`) change (`) and
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 2,00,000 - -

Less : Opearting Expense 2,00,000
Office and Admin.Expenses 50,000 40,000 10,000 20% Decrease
Selling and Distribution 50,000 40,000 10,000 33.33% Decrease
Expenses
B 1,00,000 80,000 20,000 20% Decrease
Operating profit 1,00,000 1,20,000 20,000 20% Decrease

Add : Operating income 25,000 15,000 (10,000) 40% Decrease
Expenses
Less : Non Operating 5,000 5,000 - -
Expenses
Expenses 1,20,000 1,30,000 10,000 8.33 Decrease
Less : Tax 50% 60,000 65,000 5,000 8.33 Decrease
Net Profit after Tax 60,000 65,000 5,000 8.33 Decrease

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