Question

Give a specimen of comparative statements of profit & loss for two years.

Answer 1

Comparative Statement of Profit and Loss for the year ended 31st March 2023 and 2024.
Particulars	Note No.	2023-24 (₹)	2022-23 (₹)	Absolute Change (Increase/Decrease) (₹)	Percentage (Increase/ Decrease) (%0
		A	B	(A − B) = C	`C/Bxx100` = D
I. Revenue from Operations		12,00,000	10,00,000	2,00,000	20%
II. Add: Other Incomes		80,000	60,000	20,000	33.33%
III. Total Income I + II		12,80,000	10,60,000	2,20,000	20.75%
IV. Less: Expenses
Cost of Materials Consumed		5,00,000	4,20,000	80,000	19.05%
Purchase of Stock in Trade		2,00,000	1,80,000	20,000	11,11%
Changes in Inventories of Finished Goods, Work-in-Progress and Stock in Trade		(20,000)	(10,000)	(10,000)	100%
Employee Benefit Expenses		1,50,000	1,20,000	30,000	25%
Finance Costs		40,000	35,000	5,000	14.29%
Depreciation and Amortization Expense		60,000	50,000	10,000	20%
Other Expenses		90,000	85,000	5,000	5.88%
Total Expenses		10,20,000	8,80,000	1,40,000	15.91%
V. Profit before Tax (III − IV)		2,60,000	1,80,000	80,000	44.44%
VI. Less: Tax		78,000	54,000	24,000	44.44%
VII. Profit after Tax (V − VI)		1,82,000	1,26,000	56,000	44.44%