Question

From the following information prepare a Comparative Statement of Profit and Loss of Y Ltd.: \begin{center} \begin{tabular}{|l|r|r|} Particulars & 31.3.2023 & 31.3.2022
Revenue from operations & 40,00,000 & 20,00,000
Purchase of stock in trade & 24,00,000 & 12,00,000
Change in inventories (\% of purchase of stock in trade) & 25\% & 20\%
Other expenses & 2,00,000 & 1,60,000
Tax rate & 40\% & 40\%
\end{tabular} \end{center}

Hint:

In a comparative statement, calculate the percentage change using: \[ \text{Percentage Change} = \frac{\text{Current Year - Previous Year}}{\text{Previous Year}} \times 100 \]

Answer 1

Comparative Statement of Profit and Loss of Y Ltd. \begin{center} \begin{tabular}{|l|r|r|r|} Particulars & 31.3.2023 & 31.3.2022 & Change (\%)
Revenue from operations & 40,00,000 & 20,00,000 & 100.0
Cost of goods sold (COGS) & 18,00,000 & 9,60,000 & 87.5
Gross profit & 22,00,000 & 10,40,000 & 111.5
Other expenses & 2,00,000 & 1,60,000 & 25.0
Profit before tax (PBT) & 20,00,000 & 8,80,000 & 127.3
Tax @ 40\% & 8,00,000 & 3,52,000 & 127.3
Profit after tax (PAT) & 12,00,000 & 5,28,000 & 127.3
\end{tabular} \end{center}