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Financial Statements of a Company                                             1.13
                     Additional Information:
                     Closing Inventory:  Materials  `  1,25,000;  Work-in-Progress  `  65,000;  Finished  Goods
                     ` 1,40,000. Provide for Tax @ 35%.
                     Solution:                          West Coast Ltd.
                                       STATEMENT OF PROFIT & LOSS for the year ended 31st March, 2025
                     Particulars                                                 Note       Year Ended
                                                                                 No.    31st March, 2025 (`)
                       I.  Revenue from Operations                                1         43,00,000
                       II.  Other Income                                          2            7,500
                       III.  Total Revenue (I + II)                                         43,07,500
                       IV.  Expenses
                         Cost of Materials Consumed                               3         21,25,000
                          Changes in Inventories of Finished Goods and Work-in-Progress   4     (5,000)
                          Employees Benefit Expenses                              5         13,80,000
                         Finance Costs                                            6           70,000
                          Depreciation and Amortisation Expenses                             1,50,000
                         Other Expenses                                           7          2,57,500
                         Total Expenses                                                    39,77,500
                       V.  Profit before Tax (III – IV)                                     3,30,000
                       VI.  Less:  Tax @ 35%                                                1,15,500
                      VII.  Profit after Tax                                                2,14,500

                     Notes to Accounts
                       Note   Particulars                                                  Year Ended
                       No.                                                              31st March, 2025 (`)


                       1.   Revenue from Operations
                            Sales                                                           42,50,000
                            Sale of Scrap                                                     50,000
                                                                                           43,00,000
                       2.   Other Income
                            Dividend                                                          7,500
                       3.   Cost of Materials Consumed
                            Opening Inventory of Materials                                   1,50,000
                            Add:  Purchases of Materials                                    21,00,000
                                                                                            22,50,000
                            Less:  Closing Inventory of Materials                            1,25,000
                                                                                           21,25,000
                       4.   Changes in Inventories of Finished Goods and Work-in-Progress
                            (a)  Finished Goods
                                Opening Inventory                                            1,25,000
                               Less: Closing Inventory                                       1,40,000
                                                                                             (15,000)
                            (b)  Work-in-Progress
                                Opening Inventory                                             75,000
                               Less: Closing Inventory                                        65,000
                                                                                              10,000
                                Total (a + b)                                                (5,000)
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