Question - 04

From the following particulars prepare comparative income statement for the year ending 31st March, 2007 and 2008:

2007 

Sales Rs. 8,00,000, Cost of goods sales Rs. 4,00,000, Administrative Exp. Rs. 2,00,000, Selling & distribution Exp. Rs. 50,000, other income Rs. 80,000, Income tax Rs. 60,000.

2008

Sales Rs. 6,00,000, Cost of goods sales Rs. 3,00,000, Administrative Exp. Rs. 1,50,000, Selling & distribution Exp. Rs. 40,000, other income Rs. 60,000, Income tax Rs. 50,000.

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