Question

Following is the Income statements of Raj Ltd. For the year ended 31-3-2011: 

Particulars	Amount Rs
Income:
Sales	2,00,000
Other Incomes	15,000
Total Income	2,15,000
Expenses:
Cost of goods sold	1,10,000
Operating expenses	5,000
Total Expenses	1,15,000
Tax	40,000

Prepare a common size Income Statements of Raj Ltd. for the year ended 31-3-2011. 

Answer 1

Particulars	2011 Rs	Percentage (%) of Sales
Sales	2,00,000	100
Less: Cost of Goods Sold	(1,10,000)	(55)
Gross Profit	90,000	45
Less: Operating Expenses	(5,000)	(2.5)
Operating Profit	85,000	42.5
Add: Non Operating Income	15,000	7.5
Profit before Tax	1,00,000	50
Less: Tax	(40,000)	(20)
Profit after Tax	60,000	30