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From the following information of Narsimhan Company Limited, prepare a Comparative Income Statement for the years 2011-2012. Particulars2011(Rs)2012 (Rs)Gross Sales7,25,0008,15,000(-) Return(25,000)––––––––––(15,000)––––––––––Net Sales7,00,0008,00,000Cost of Goods Sold5,95,0006,15,000Gross Profit¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,05,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,85,000––––––––––Other ExpensesSelling and Distribution Expenses23,00024,000Administration Expenses12,70012,500Total Expenses¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 35,700––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 36,500–––––––––––Operating Income69,3001,48,500Other Income1,2008,050¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯70,500¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,56,550Non-operating Expenses1,7501,940Net Profit68,750––––––––––––––––1,54,610–––––––––––––––––––– |
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Answer» From the following information of Narsimhan Company Limited, prepare a Comparative Income Statement for the years 2011-2012. Particulars2011(Rs)2012 (Rs)Gross Sales7,25,0008,15,000(-) Return(25,000)––––––––––(15,000)––––––––––Net Sales7,00,0008,00,000Cost of Goods Sold5,95,0006,15,000Gross Profit¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,05,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,85,000––––––––––Other ExpensesSelling and Distribution Expenses23,00024,000Administration Expenses12,70012,500Total Expenses¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 35,700––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 36,500–––––––––––Operating Income69,3001,48,500Other Income1,2008,050¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯70,500¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,56,550Non-operating Expenses1,7501,940Net Profit68,750––––––––––––––––1,54,610–––––––––––––––––––– |
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