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Prepare Comparative Statement of Profit and Loss from the following information:

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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.

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