HIC GROUP OF Companies COMPARATIVE INCOME STATEMENT For years ended 3rd December 2019 2020 Revenue and gains Sales revenue 495,500 496,738.75 Interest revenue 278,500 279,196.25 Investment Income 71,700 71,879.25 Other revenue 101,500 101,753.75 Total revenue and gains 947,200 949,968 Expenses and losses Cost of good sold 450,000 447,750 Selling&administrative 185,000 184,075 Computer (operating) 42,500 42,288 Depreciation 50,000 49,750 Interest expense 28,400 28,258 Total expense and losses 755,900 752,121 Income before taxes Income tax expense (25%) Net income . calculate the income tax expenses for each year 2. calculate the net income
HIC GROUP OF Companies
COMPARATIVE INCOME STATEMENT
For years ended 3rd December 2019 2020
Revenue and gains
Sales revenue 495,500 496,738.75
Interest revenue 278,500 279,196.25
Investment Income 71,700 71,879.25
Other revenue 101,500 101,753.75
Total revenue and gains 947,200 949,968
Expenses and losses
Cost of good sold 450,000 447,750
Selling&administrative 185,000 184,075
Computer (operating) 42,500 42,288
Interest expense 28,400 28,258
Total expense and losses 755,900 752,121
Income before taxes
Income tax expense (25%)
Net income
. calculate the income tax expenses for each year
2. calculate the net income
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