Comparative Income statement for the year ended 31.03.2017 and 31.03.2018
Working Notes:
L Calculation of net Purchase
Net sales = Cash purchases + credit purchases – Purchase returns
2013 = 1,20,000 + 1,50,000 – 4 000 = Rs. 2,66,000 .
2014 = 40,000 + 60,000 – 6000 = Rs. 94,000
2. Calculation finance cost Finance cost
= interest on bank overdraft + interest in debentures
2013 = 5000 + 20,000 = 25,000
2014 = 0 + 20,000 = 20,000.