Activity Sheet 05

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Activity Sheet 05

Name: Villanueva, Althea Mae G. Rating:

Course / Year / Section : BSHM-2G

Compute the peso change and percentage change in the problem.

Precision Company
Comparative Income
Statement
For the year ended December 31, 2020 & 2019

Peso
2020 2019 % Change
Change

Net Sales 2,486,000.00 2,075,000.00 411,000 19.31%


Cost of Goods Sold 1,523,000.00 1,222,000.00 301,000 24.63%
Gross Profit 963,000.00 853,000.00 110, 000 12.90%

Less : Operating Expenses


Advertising Expense 45,000
145,000.00 100,000.00
45%
Sales Salaries Expense 240,000.00 280,000.00 -40,000 -14.29%
Office Salaries Expense 165,000.00 200,000.00 -35, 000 -17.50
Insurance Expense 100,000.00 45,000.00 55,000 122.22%
Supplies Expense 26,000.00 35,000.00 -9,000 -25.71%
Depreciation Expense 85,000.00 75,000.00 10,000 13.33%
Miscellaneous Expense 61,000.00 61,000.00 0 0%

Total Operating Expenses 822,000.00 796,000.00 26,000 3.27%

Income before taxes 141,000.00 57,000.00 84,000 147.37%


Income tax 47,000.00 19,000.00 28,000 147.37%

Net Income 94,000.00 38,000.00 56,000 147.37%

Learning Module: Business Finance for Tourism & Hospitality Managers 60

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