Question

From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Income
Revenue from Operations (Net Sales)		50,00,000	40,00,000
II. Expenses
Purchases of Stock-in-Trade		34,00,000	28,50,000
Change in Inventories of Stock-in-Trade	1	1,00,000	1,50,000
Employees Benefits Expenses		1,00,000	1,00,000
Other Expenses	2	2,00,000	1,50,000
Total		38,00,000	32,50,000
III. Net Profit (I-II)		12,00,000	7,50,000

Notes to Accounts

Particulars	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Change in Inventory of stock-in-Trade
Opening Inventory	2,00,000	3,50,000
Less: Closing Inventory	1,00,000	2,00,000
	1,00,000	1,50,000
2. Other Expenses
Administrative Expenses	50,000	50,000
Selling and Distribution Expenses	1,50,000	1,00,000
	2,00,000	1,50,000

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	40,00,000	50,00,000	10,00,000	25.00
II. Expenses:
a. Purchases of Stock-in-Trade	28,50,000	34,00,000	5,50,000	19.30
b. Changes in Inventories of Stock-in-Trade	1,50,000	1,00,000	(50,000)	(33.33)
c. Employees Benefit Expenses	1,00,000	1,00,000	–	–
d. Other Expenses	1,50,000	2,00,000	50,000	33.33
	32,50,000	38,00,000	5,50,000	16.92
Profit before Income Tax (I-II)	7,50,000	12,00,000	4,50,000	60.00
Less: Income Tax	–	–	–	–
Profit after Income Tax	7,50,000	12,00,000	4,50,000	60.00