I.Z.Y.

X Corporation
Comparative Income Statement
For the Years Ended December 31, 2020 and 2019
2020(Php) 2019(Php) Increase %
(Decrease)
Sale 1,489,000.00 1,200,000.00 298,000.00 24.83%
Cost of Goods Sold 1,043,000.00 820,000.00 223,000.00 27.7%
Gross Profit 445,000.00 380,000.00 75,000.00 19.74%
Selling Expenses 191,000.00 147,000.00 44,000.00 29.93%
General Expenses 104,000.00 97,400.00 6,600.00 6.7%
Total Operation 295,000.00 244,400.00 50,600.00 20.70%
Expenses
Operation Income 160,000.00 135,600.00 24,400.00 18%
Other Income 8,500.00 11,000.00 (2,500.00) (22.72%)
168,500.00 146,600.00 21,900.00 14.93%
Other Expenses 6,000.00 12,000.00 (6,000.00) (50%)
Income before Income 162,500.00 134,600.00 27,900.00 20.72%
Tax
Income Tax 71,500.00 58,100.00 13,400.00 23.06%
Net Income 91,000.00 76,500.00 14,500 18.92%

1. Show the increase/s or decrease/s in account balances and their corresponding

percentages. Make sure to make a comprehensive comparative statement with proper
labels. (30pts)
2. How much is the NET increase (Decrease) in Operating of I.Z.Y.X Corporation? (5pts)

- So out of 100% of sell, only 18% in operating expenses. So, it means the operating
income is increased by 24,000.
3. How much is the Common-Size Incomer of I.Z.Y.X Corporation in the year 2020? (5pts)

- The Common-Size Net Income of I.Z.Y.X. Corporation in the year 2020 is P91,000.
This means that the net income is increased by 18.92%.
I.Z.Y.X. Corporation
Common-Size Statement
As of December 31, 2020
 ASSETS Percent
Current Assets:

Cash P 295,000.00 19.6%

Accounts Receivable 22,000.00 1.46%
Prepaid Rent 20,000.00 1.33%
Inventory 28,000.00 1.86%
Total Current Assets P 365,000,00 24.33%

Non-Current Assets:
Property, Plant, and P 420,000.00 28%
Equipment (net)
Investment in Bonds 265,000.00 17.66%

Franchise 450,000.00 30%

Total Non-Current Assets P 1,135,000.00 75%

Total Assets P 1,500,000.00 100%

LIABILITIES
Current Liabilities
Accounts Payable P 294,000.00 19.6%
Notes Payable 36,000.00 2.4%
Accrued Expenses 120,000.00 8%
Total Current Liabilities P 450,000.00 30%

Non-Current Liabilities
Bonds Payable- Long Term P 260,000.00 17.33%
Total Non-Current Liabilities P 260,000.00 17.33%
Total Liabilities P 710,000.00 47.33%

SHAREHOLDER’S EQUITY
Common Stock P 315,000.00 21%

Additional Paid-in capital 240,000.00 16%

Retained Earnings 235,000.00 15.6%

Total Shareholder’s Equity P 790,000.00 52.6%

Total Liabilities & P 1,5000,000.00 100%

Shareholder’s Equity