Question

From the following Statement of Profit and Loss of Shikha Ltd., prepare Comparative Statement of Profit and Loss for the year ended 31^st March, 2023: \[ \begin{array}{|l|c|c|} \hline \textbf{Particulars} & \textbf{2022-23 (Rs.)} & \textbf{2021-22 (Rs.)} \\ \hline \text{Revenue from Operations} & 32,00,000 & 20,00,000 \\ \text{Employee Benefit Expenses} & 9,60,000 & 6,00,000 \\ \text{Other Expenses} & 6,40,000 & 4,00,000 \\ \hline \end{array} \]

Hint:

When preparing a comparative statement, calculate the percentage change for each item using the formula: \[ \% { Change} = \frac{ {Current Year - Previous Year}}{ {Previous Year}} \times 100 \]

Answer 1

Comparative Statement of Profit and Loss: \[ \begin{array}{|l|c|c|c|} \hline \textbf{Particulars} & \textbf{2022-23 (Rs.)} & \textbf{2021-22 (Rs.)} & \textbf{\% Change} \\ \hline \text{Revenue from Operations} & 32,00,000 & 20,00,000 & 60\% \\ \text{Employee Benefit Expenses} & 9,60,000 & 6,00,000 & 60\% \\ \text{Other Expenses} & 6,40,000 & 4,00,000 & 60\% \\ \hline \end{array} \] Explanation: \[ \% \text{ Change} = \frac{\text{Current Year - Previous Year}}{\text{Previous Year}} \times 100 \] For each item: 
1. Revenue from Operations: \[ \frac{32,00,000 - 20,00,000}{20,00,000} \times 100 = 60\% \] 2. Employee Benefit Expenses: \[ \frac{9,60,000 - 6,00,000}{6,00,000} \times 100 = 60\% \] 3. Other Expenses: \[ \frac{6,40,000 - 4,00,000}{4,00,000} \times 100 = 60\% \]