Question
Following is the Income statements of Raj Ltd. For the year ended 31-3-2011:
|
Particulars |
Amount Rs |
|
Income: |
|
|
Sales |
2,00,000 |
|
Other Incomes |
15,000 |
|
Total Income |
2,15,000 |
|
|
|
|
Expenses: |
|
|
Cost of goods sold |
1,10,000 |
|
Operating expenses |
5,000 |
|
Total Expenses |
1,15,000 |
|
Tax |
40,000 |
Prepare a common size Income Statements of Raj Ltd. for the year ended 31-3-2011.
Solution
Common size income statement of Raj Ltd for the year ended 31-3-2011
|
Particulars |
2011 Rs |
Percentage (%) of Sales |
|
Sales |
2,00,000 |
100 |
|
Less: Cost of Goods Sold |
(1,10,000) |
(55) |
|
Gross Profit |
90,000 |
45 |
|
Less: Operating Expenses |
(5,000) |
(2.5) |
|
Operating Profit |
85,000 |
42.5 |
|
Add: Non Operating Income |
15,000 |
7.5 |
|
Profit before Tax |
1,00,000 |
50 |
|
Less: Tax |
(40,000) |
(20) |
|
Profit after Tax |
60,000 |
30 |
