From the following information, prepare Comparative Statement of Profit and Loss showing increase, decrease and percentage:

Particulars 31st March, 2019
31st March, 2018

Cost of Materials Consumed ₹ 13,44,000
₹ 6,00,000

Revenue from Operations (% of Materials Consumed) 125%
200%

Other Expenses (% of Operating Revenue) 10% 10%

Tax Rate 50% 50%

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Solution

Comparative Income Statement

for the year ended 31^st March, 2018 and 2019

Particulars

March 31, 2018

(₹)

March 31, 2019

(₹)

Absolute

Change

(₹)

Percentage

Change

(%)

I. Revenue from Operations (WN1)

12,00,000

16,80,000

4,80,000

40.00

II. Expenses

a. Cost of Material Consumed

6,00,000

13,44,000

7,44,000

124.00

b. Other Expenses (WN2)

1,20,000

1,68,000

48,000

40.00

7,20,000

15,12,000

7,92,000

110.00

Profit before Income Tax (I-II) 4,80,000 1,68,000 (3,12,000) (65.00)

Less: Income Tax @ 50%

2,40,000

84,000

(1,56,000)

(65.00)

Profit after Income Tax

2,40,000

84,000

1,56,000

(65.00)

Working Notes:

WN1 Computation of Revenue from Operations

Particulars

2018

(₹)

2019

(₹)

Cost of Materials Consumed

6,00,000

13,44,000

% of Materials Consumed

200%

125%

Revenue from Operations

12,00,000

16,80,000

WN2 Computation of Other Expenses

Particulars

2018

(₹)

2019

(₹)

Revenue From Operations

12,00,000

16,80,000

% of Operating Revenue

10%

10%

Other Expenses

1,20,000

1,68,000

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Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Income
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Cost of Materials Consumed		1,20,000	1,00,000
Changes in Inventories of WIP and Finished Goods		(2,000)	5,000
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Particulars ulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Income
Revenue from Operations (Net Sales)		20,00,000	17,50,000
Other Income		75,000	50,000
Total		20,75,000	18,00,000
II. Expenses
Purchases of Stock-in-Trade		11,60,000	10,00,000
Change in Inventories of Stock-in-Trade		10,000	(25,000)
Employees Benefits Expenses	1	3,00,000	3,00,000
Depreciation and Amortisation Expenses		50,000	50,000
Other Expenses	2	90,000	75,000
Total		16,10,000	14,00,000
III. Net Profit (I-II)		4,65,000	4,00,000

Notes to Accounts

Particulars	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Employees Benefit Expenses
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2. Other Expenses
Administrative and General Expenses	70,000	50,000
Miscellaneous Expenses	20,000	25,000
	90,000	75,000

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Particulars	31st March, 2019	31st March, 2018
Cost of Materials Consumed	₹ 13,44,000	₹ 6,00,000
Revenue from Operations (% of Materials Consumed)	125%	200%
Other Expenses (% of Operating Revenue)	10%	10%
Tax Rate	50%	50%

Comparative Income Statement for the year ended 31^st March, 2018 and 2019
Particulars	March 31, 2018 (₹)	March 31, 2019 (₹)	Absolute Change (₹)	Percentage Change (%)
I. Revenue from Operations (WN1)	12,00,000	16,80,000	4,80,000	40.00
II. Expenses
a. Cost of Material Consumed	6,00,000	13,44,000	7,44,000	124.00
b. Other Expenses (WN2)	1,20,000	1,68,000	48,000	40.00
	7,20,000	15,12,000	7,92,000	110.00

Profit before Income Tax (I-II)	4,80,000	1,68,000	(3,12,000)	(65.00)
Less: Income Tax @ 50%	2,40,000	84,000	(1,56,000)	(65.00)
Profit after Income Tax	2,40,000	84,000	1,56,000	(65.00)

Particulars	2018 (₹)	2019 (₹)
Cost of Materials Consumed	6,00,000	13,44,000
% of Materials Consumed	200%	125%
Revenue from Operations	12,00,000	16,80,000