From the following Statement of Profit & Loss, prepare Comparative Statement of Profit & Loss:
| Particulars | Note. No. | 31st March, 2024 (₹) |
31st March, 2023 (₹) |
| I. Income | |||
| Revenue from Operations(Net Sales) | 50,00,000 | 40,00,000 | |
| II. Expenses | |||
| Purchases of Stock-in-Trade | 34,00,000 | 28,50,000 | |
| Change in Inventories of Stock-in-Trade | 1,00,000 | 1,50,000 | |
| Employees Benefit Expenses | 1,00,000 | 1,00,000 | |
| Other Expenses | 2,00,000 | 1,50,000 | |
| Total | 38,00,000 | 32,50,000 | |
| III. Net Profit (I – II) | 12,00,000 | 7,50,000 |
Notes to Account:-
| Particulars | 31st March, 2024 (₹) | 31st March, 2023 (₹) |
| Change in Inventories of Stock-in-Trade | ||
| Opening Inventory Less: Closing Inventory |
2,00,000 1,00,000 |
3,50,000 2,00,000 |
| 1,00,000 | 1,50,000 | |
| Other Expenses | ||
| Administrative Expenses | 50,000 | 50,000 |
| Selling and Distribution Expenses | 1,50,000 | 1,00,000 |
| 2,00,000 | 1,50,000 |
Solution :
