e. Complete the formulas in cells provided for revenues* for 2020. 2020 revenues have Increased by ¾ % over 2019 values. f. Complete the formulas in cells provided for expenses for 2020. 2020 expenses have increased by ½ % over 2019 values g. Using the correct function or formula calculate the total expenses and losses in the cells provided.
e. Complete the formulas in cells provided for revenues* for 2020. 2020 revenues have Increased by ¾ % over 2019 values. f. Complete the formulas in cells provided for expenses for 2020. 2020 expenses have increased by ½ % over 2019 values g. Using the correct function or formula calculate the total expenses and losses in the cells provided.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
e. Complete the formulas in cells provided for revenues* for 2020. 2020 revenues have
Increased by ¾ % over 2019 values.
f. Complete the formulas in cells provided for expenses for 2020. 2020 expenses have increased
by ½ % over 2019 values
g. Using the correct function or formula calculate the total expenses and losses in the cells
provided.
Transcribed Image Text:Living Large Finance
Tax Rate
30%
COMPARITIVE INCOME STATEMENT
for years ended 31 December
2019
2020
Revenues and gains
*Sales revenue
516,500
*Interest revenue
278,500
*Investment Income
77,900
101,500
*Other revenue
Total revenue and gains
974,400
Expenses and losses
**Cost of goods sold
**Selling and admin administrative
***Computer (operating)
*"Depreciation
**Interest expense
Total expenses and losses
475,000
175,000
42,700
51,000
30,400
Income before taxes
Income tax expense (30%)
Net Income
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