Practical Problem 05
SOLUTION:
Comparative Income Statement of Noha Limited For the year ended 31st March, 2017 and 31st March, 2018
Particulars | 31 – 03 – 2017 (₹) | 31 – 03 – 2018 (₹) | Absolute Change (₹) | % Change |
Sales | 2,00,000 | 3,00,000 | 1,00,000 | 50 % Increase |
Less: Cost of Sales | 1,20,000 | 80,000 | (40,000) | (33.33 %) Decrease |
Gross Profit | 80,000 | 2,20,000 | 1,40,000 | 175 % Increase |
Less : Indirect Expenses | 8,000 | 12,000 | 4,000 | 50 % Increase |
Net Profit before Tax | 72,000 | 2,08,000 | 1,36,000 | 188.89 % Increase |
Less : Tax 50 % | 36,000 | 1,04,000 | 68,000 | 188.89 % Increase |
Net Profit after Tax | 36,000 | 1,04,000 | 68,000 | 188.89 % Increase |