Question

Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Income
Revenue from Operations (Net Sales)		3,00,000	2,50,000
II. Expenses
Cost of Materials Consumed		1,20,000	1,00,000
Changes in Inventories of WIP and Finished Goods		(2,000)	5,000
Employees Benefits Expenses (Wages)		30,000	25,000
Other Expenses		22,000	20,000
Total		1,70,000	1,50,000
III. Net Profit (I-II)		1,30,000	1,00,000

Answer 1

Comparative Income Statement for the year ended March 31, 2018 and 2019
Particulars	2018 (₹)	2019 (₹)	Absolute Change (₹)	Percentage Change (%)
I. Revenue from Operations	2,50,000	3,00,000	50,000	20.00
II. Expenses:
a. Cost of Materials Consumed	1,00,000	1,20,000	20,000	20.00
b. Changes in Inventories of WIP and Finished Goods	5,000	(2,000)	(7,000)	(140.00)
c. Employees Benefit Expenses (Wages)	25,000	30,000	5,000	20.00
d. Other Expenses	20,000	22,000	2,000	10.00
	1,50,000	1,70,000	20,000	13.33
Profit before Income Tax (I-II)	1,00,000	1,30,000	30,000	30.00
Less: Income Tax	–	–	–	–
Profit after Income Tax	1,00,000	1,30,000	30,000	30.00