Briefly described the comparative income statement for KPT Enterprises KPT EnterprisesCOMPARITIVE INCOME STATEMENTfor years ended 31 December2020Revenues and gains*Sales revenue*Interest revenue*Investment IncomeB*Other revenueTotal revenue and gainsExpenses and losses**Cost of goods sold**Selling and admin administrative5 ***Computer (operating)**Depreciation**Interest expenseTotal expenses and lossesIncome before taxesIncome tax expense (25%)1 Net Income2$277,000$168,400$91,875$91,500$628,775$55,000$125,000$53,500$53,500$35,000$322,000$306,775$76,694$230,0812021$278,385$169,242$92,334$91,958$631,919$54,863$124,688$53,366$53,366$34,913$321,195$310,724$77,681$233,043Tax Rate25%

The comparative income statement is described as that statement in which the operating results for a…

KPT Enterprises COMPARITIVE INCOME STATEMENT for years ended 31 December 2020 Revenues and gains *Sales revenue *Interest revenue *Investment Income *Other revenue Total revenue and gains Expenses and losses **Cost of goods sold **Selling and admin administrative ***Computer (operating) **Depreciation **Interest expense Total expenses and losses Income before taxes Income tax expense (25%) Net Income $277,000 $168,400 $91,875 $91,500 $628,775 $55,000 $125,000 $53,500 $53,500 $35,000 $322,000 $306,775 $76,694 $230,081 2021 $278,385 $169,242 $92,334 $91,958 $631,919 $54,863 $124,688 $53,366 $53,366 $34,913 $321,195 $310,724 $77,681 $233,043 Tax Rate 25%

KPT Enterprises COMPARITIVE INCOME STATEMENT for years ended 31 December 2020 Revenues and gains Sales revenue Interest revenue Investment Income Other revenue Total revenue and gains Expenses and losses Cost of goods sold Selling and admin administrative *Computer (operating) Depreciation **Interest expense Total expenses and losses Income before taxes Income tax expense (25%) Net Income $277,000 $168,400 $91,875 $91,500 $628,775 $55,000 $125,000 $53,500 $53,500 $35,000 $322,000 $306,775 $76,694 $230,081 2021 $278,385 $169,242 $92,334 $91,958 $631,919 $54,863 $124,688 $53,366 $53,366 $34,913 $321,195 $310,724 $77,681 $233,043 Tax Rate 25%

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.1EX: Vertical analysis of income statement Revenue and expense data for Innovation Quarter Inc. for two...

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