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Sum
Prepare a comparative statement of Profit and Loss from the following information extracted from the statement of Profit and Loss for the year ended 31st March, 2017 and 2018.
| Particulars | 2017-18 | 2016-17 |
| Revenue from operations | (₹) 12,00,000 | (₹)10,00,000 |
| Other income (% of Revenue from operations) | 25% | 25% |
| Employee benefit expenses(% of Total Revenue) | 40% | 30% |
| Tax Rate | 40% | 40% |
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Solution
Comparative Statement of Profit & Loss
For the year ended 31st March 2017 and 2018
| Particulars |
Note No. |
2016-17 (₹) |
2017-18 (₹) |
Absolute Change (₹) |
Percentage Change |
| I. Revenue from Operations | 10,00,000 | 12,00,000 | 2,00,000 | 20% | |
| II. Other Income (% of Revenue from Operations) |
2,50,000 | 3,00,000 | 50,000 | 20% | |
| III. Total Revenue (I + II) | 12,50,000 | 15,00,000 | 2,50,000 | 20% | |
| Less: Employee Benefit Expenses (% of Total Revenue) | 3,75,000 | 6,00,000 | 2,25,000 | 60% | |
| IV. Profit before Interest and Tax | 8,75,000 | 9,00,000 | 25,000 | 2.86% | |
| Less: Tax @ 40% | 3,50,000 | 3,60,000 | 10,000 | 2.86% | |
| V. Profit After Interest and Tax | 5,25,000 | 5,40,000 | 15,000 | 2.86% |
Concept: Comparative Statements
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