Prepare a comparative income statement Raghu Ltd. from the following information:
Particulars 1. Sales-20,00,000-25,00,0002. Cost of mater. consumed-16,00,000-20,00,0003. Other exp.-20% of PBT-10% of PBT4. Income tax-50%-50%
PLEASE, I REQUIRE THE ANSWER IMMEDIATELY
| Comparative Income Statement | ||||
| Particulars | Previous Year (Rs) |
Current Year (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
| I. Sales | 20,00,000 | 25,00,000 | 5,00,000 | 25 |
| II. Expenses | ||||
|
16,00,000 | 20,00,000 | 4,00,000 | 25 |
|
66,666 | 45,454 | 21,212 | 31.8 |
| Profit before Income Tax | 3,33,334 | 4,54,546 | (1,21,212) | (36.36) |
| Less: Income Tax (50%) | 1,66,667 | 2,27,273 | (60,606) | (36.36) |
| Profit after Income Tax | 1,66,667 | 2,27,273 | (60,606) | (36.36) |
Working Notes:
Other Expenses for the previous year = Rs 66,666 (Rs 4,00,000*20/120)
Other Expenses for the Current Year = Rs 45,454 (Rs 5,00,000*10/110).