Pls explain n answer fast
Solution:
Comparative Income Statement
for the year ended March 2021, and March 2020
Comparative Income Statement
for the year ended March 2021, and March 2020
| Particulars | 2020 | 2021 | Absolute Change | Percentage change (%) |
| 1. Revenue from Operations | 10,00,000 | 20,00,000 | 10,00,000 | 100 |
| 2. Expenses | ||||
| a) Cost of Material Consumed | 600,000 | 15,00,000 | 9,00,000 | 150 |
| b) Other Expenses | 60,000 | 180,000 | 120,000 | 200 |
| Total | 660,000 | 16,80,000 | 10,20,000 | 154.54 |
| Profit Before Income Tax (1-2) | 340,000 | 320,000 | 20000 | 5.88 |
| Less Income Tax | (136000) | (96000) | 40,000 | 0.029 |
| Profit after Income Tax | 204,000 | 224,000 | 20000 | 9.80 |