Question

Following is the Comparative Income Statement of Violet Ltd. for the years ending 31-3-2023 and 31-3-2022.

You are required to present the Comparative Income Statement in its complete form after calculating the missing information represented by “??”.

Comparative Income Statement of Violet Ltd. For the years ending 31-3-2023 and 31-3-2022
Particulars	31-03-2023 (₹)	31-03-2022 (₹)	Absolute change (₹)	% Change
Revenue from Operations	??	7,098	364	??
Expenses	8,998	7,931	??	??
Net Profit	??	(833)	(703)	??

Answer 1

Comparative Income Statement of Violet Ltd. For the years ending 31-3-2023 and 31-3-2022
Particulars	31-03-2023 (₹)	31-03-2022 (₹)	Absolute change (₹)	% Change
I. Revenue from Operations	7,462	7,098	364	5.13
II. Expenses	8,998	7,931	1,067	13.45
III. Net Profit	(1,536)	(833)	(703)	(84·39)

Working Notes:

Revenue from operations for 31-3-2023 = 7,098 + 364 = 7,462

Absolute changes in expenses = 8,998 − 7,931 = 1,067

Net profit for 31-3-2023 = 7,462 − 8,998 = ₹ (1,536) (loss)

Percentage changes:

Revenue from Operations = `364/(7,098)xx100` = 5.13%

Expenses = `(1,067)/(7,931)xx100` = 13.45%

Net profit = `((703))/((833))xx100` = (84.39%)