e following are comparative financial statements of Excellent Marketing Pte Ltd: Excellent Marketing Pte Ltd Comparative Income Statements For the year ended 31 December, 2021 2020 2019 Sales 298,200 249,000 215,700 COGS 108,890 84,262 66,200 Gross Profit 189,310 164,738 149,500 Selling Expenses 34,020 29,685 27,000 Administrative Expenses 25,140 21,915 23,550 Total Expenses 59,160 51,600 50,550 Profit before tax 130,150 113,138 98,950 Income tax Expenses 9,075 8,865 7,950 Net profit 121,075 104,273 91,000 (i) Show the income statement data for the three years in common-size percents. (ii) Interpret the percentage computed and elaborate on the changes to the company performance over the years prese
e following are comparative financial statements of Excellent Marketing Pte Ltd: Excellent Marketing Pte Ltd Comparative Income Statements For the year ended 31 December, 2021 2020 2019 Sales 298,200 249,000 215,700 COGS 108,890 84,262 66,200 Gross Profit 189,310 164,738 149,500 Selling Expenses 34,020 29,685 27,000 Administrative Expenses 25,140 21,915 23,550 Total Expenses 59,160 51,600 50,550 Profit before tax 130,150 113,138 98,950 Income tax Expenses 9,075 8,865 7,950 Net profit 121,075 104,273 91,000 (i) Show the income statement data for the three years in common-size percents. (ii) Interpret the percentage computed and elaborate on the changes to the company performance over the years prese
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following are comparative financial statements of Excellent Marketing Pte Ltd:
| Excellent Marketing Pte Ltd Comparative Income Statements For the year ended 31 December, | |||
| 2021 | 2020 | 2019 | |
| Sales | 298,200 | 249,000 | 215,700 |
| COGS | 108,890 | 84,262 | 66,200 |
| Gross Profit | 189,310 | 164,738 | 149,500 |
| Selling Expenses | 34,020 | 29,685 | 27,000 |
| Administrative Expenses | 25,140 | 21,915 | 23,550 |
| Total Expenses | 59,160 | 51,600 | 50,550 |
| Profit before tax | 130,150 | 113,138 | 98,950 |
| Income tax Expenses | 9,075 | 8,865 | 7,950 |
| Net profit | 121,075 | 104,273 | 91,000 |
(i) Show the income statement data for the three years in common-size percents.
(ii) Interpret the percentage computed and elaborate on the changes to the company performance over the years presented
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