V. HOW FAR HAVE WE GONE COMPARATIVE REPORT

Direction: Prepare a comparative report showing the peso increase-decrease method

and percentage of changes. And write a brief comment on the facts revealed by your

analysis.

The data presented below are taken from the income statement of Jimbo Company for

the years 20x3 and 20x4.

20x3

20x4

Sales

P 1, 050, 000

P 1, 155, 000

Sales Returns and Allowances

50, 000

55, 000

Net Sales

1, 000, 000

1, 100, 000

Less Cost of Goods Sold

400, 000

460, 000

Gross Profit on Sales

600, 000

640, 000

Less Operating Expenses

350, 000

375, 000

Net Operating Profit

250, 000

265, 000

Less Other Expenses

4, 000

-

Net Income

P 246, 000

P 265, 000

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