# Question 28 Chapter 6-Unimax Publication Class 12 Part 2 – 2021

Question No 28 Chapter No -6 Unimax Class - 12 Part - II

Question 28 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021

Prepare common size income statement form the following information.

 Particulars 2021 2022 Revenue from operation 12,00,000 18,00,000 Gross profit 40% of revenue from operating 50% of revenue from operating Administrative expenses 20% of G.P 15% of G.P Income tax 50% 50%

## The solution of Question 28 Chapter 6 – Unimax Publication Class 12 Part 2-2021 : –

Common Size Income statement
For the Year 2021 & 2022

 Particulars 2021 Percentage 2022 Percentage Revenue form operation 12,00,000 100.00 18,00,000 100.00 Add other income Total revenue 12,00,000 100.00 18,00,000 100.00 Less expenses Cost of goods sold 7,20,000 60.00 9,00,000 50.0 Adm. Expenses 96,000 8.00 1,35,000 0.75 Total expenses 8,16,000 68 10,35,000 57.5 Net Profit before tax 3,84,000 32.0 7,65,000 42.5 Less income tax 1,92,000 16.00 3,82,500 21.25 Net Profit after tax 1,92,000 16.00 3,82,500 21.25

Working Notes:

 2021 = Gross profit = 12,00,000 X 40/100  = 4,80,000 2022 = Gross profit = 18,00,000 X 50/100  = 9,00,00 Now cost of goods sold = sales – gross profit 2021 = Cost of goods sold = 12,00,000 – 4,80,000 = 7,20,000 2022 = Cost of goods sold = 18,00,000 – 9,00,000 = 9,00,000 Admi. Expenses: 2021 = 4,80,000 x 20/100 = 96,000 2022 = 9,00,000 X 15/100 = 1,35,000

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Comparative Statements – Balance Sheet & Profit and Loss