Please help me with the question below
REGARDS
Solution:
Comparative Income Statement
for the year ended March 2018, and March 2019
Working Notes:-
1) Computation of Other Income
2) Computation of Expenses
Comparative Income Statement
for the year ended March 2018, and March 2019
| Particulars | 2018 (A) |
2019 (B) |
Absolute Change (C= B-A) |
Percentage change (%) (D = C/A x 100) |
| 1. Revenue from Operations | 20,00,000 | 30,00,000 | 10,00,000 | 50.00 |
| 2. Income | 2,40,000 | 7,50,000 | 5,10,000 | 212.5 |
| 3. Total Revenue (1+2) | 22,40,000 | 37,50,000 | 15,10,000 | 67.41 |
| 4.Expenses | 9,00,000 | 10,50,000 | 1,50,000 | 16.67 |
| 5.Profit Before Income Tax (3-4) | 13,40,000 | 27,00,000 | 13,60,000 | 101.49 |
| 6.Less: Income Tax @40% | 5,36,000 | 10,80,000 | 5,44,000 | 101.49 |
| Profit after Income Tax (5-6) | 8,04,000 | 16,20,000 | 8,16,000 | 101.49 |
Working Notes:-
1) Computation of Other Income
| Particulars | 2018 | 2019 |
| Revenue from Operations | 20,00,000 | 30,00,000 |
| % of Revenue from Operations | 12% | 25% |
| Other Income | 2,40,000 | 7,50,000 |
2) Computation of Expenses
| Particulars | 2018 | 2019 |
| Revenue From Operations | 20,00,000 | 30,00,000 |
| % of Revenue From Operations | 45% | 35% |
| Expenses | 9,00,000 | 10,50,000 |