Prepare Comparative Statement of Profit & Loss from the following Statement of Profit & Loss:
| Particulars | Note. No. | 31st March, 2024 (₹) |
31st March, 2023 (₹) |
| I. Income | |||
| Revenue from Operations(Net Sales) | 3,50,000 | 3,00,000 | |
| II. Expenses | |||
| Purchases of Stock-in-Trade | 2,10,000 | 1,80,000 | |
| Change in Inventories of Stock-in-Trade | 15,000 | 20,000 | |
| Employees Benefit Expenses | 17,500 | 15,000 | |
| Other Expenses | 7,500 | 5,000 | |
| Total | 2,50,000 | 2,20,000 | |
| III. Profit before Tax (I-II) | 1,00,000 | 80,000 | |
| IV. Tax | 30,000 | 24,000 | |
| V. Profit after Tax (III – IV) | 70,000 | 56,000 |
Solution :
