ILLUSTRATION 3. From the following Income Statement of X Ltd. prepare a Comparative Income Statement and interpret the results: (Amount in Lak $ For the year ended 31st March 2015 2016 Net Sales 1,370 838 1,442 926 Cost of Goods Sold Gross Profit Operating Expenses : Administrative Expenses Selling Expenses 532 516 92 94 188 182 282 274 Operating Profit Add : Other Income-Dividend 250 242 44 50 294 292 44 Less : Other Deductions-Interest paid 44 Net Profit before Tax Less : Income-tax 250 248 124 124 Net Profit after Tax 126 124

ILLUSTRATION 3. From the following Income Statement of X Ltd. prepare a Comparative Income Statement and interpret the results: (Amount in Lak $ For the year ended 31st March 2015 2016 Net Sales 1,370 838 1,442 926 Cost of Goods Sold Gross Profit Operating Expenses : Administrative Expenses Selling Expenses 532 516 92 94 188 182 282 274 Operating Profit Add : Other Income-Dividend 250 242 44 50 294 292 44 Less : Other Deductions-Interest paid 44 Net Profit before Tax Less : Income-tax 250 248 124 124 Net Profit after Tax 126 124

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 87PSB

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