Question

Prepare comparative profit-loss statements from the following profit-loss statements of Binali Ltd. for the year ending on 31-3-2018 and 31-3-2019.

Summarised Profit-Loss statements for the year ending on 31-3-’18 and 31-3-’19

Particulars	Note No.	31-3-2019 (₹)	31-3-2018 (₹)
Sales revenue		18,00,000	16,00,000
Other income		4,00,000	3,50,000
Expenses		9,60,000	8,00,000

Income tax rate is 30%

Answer 1

Particulars	Increase/Decrease(₹)	Increase/Decrease (%)
(I) Sides revenue	2,00,000	12.50
(II) Other income	50,000	14.29
(III) Total income	2,50,000	12.82
(IV) Expenses	1,60,000	20.00
(V) Profit before tax	90,000	7.83
(VII) Less: Income tax (30%)	27,000	7.83
(V) Profit after tax	63,000	7.83