Comparative figures from the statement of profit or loss of Misty Ltd are shown below: 2017 2016
Question:
Comparative figures from the statement of profit or loss of Misty Ltd are shown below:
2017 | 2016 | ||||
Revenue (all sales) Cost of sales | $450 000 292 300 | $390 000 287 000 | |||
Gross profit Expenses (including tax) | 157 700 89 200 | 103 000 68 500 | |||
Profit | $ 68 500 | $ 34 500 |
Required
Prepare common size statements for the company for both years, and comment on any significant changes.
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Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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