Amrapalli Hotels Limited commenced operations as on April 1, 20X5. Khushi, a recent MBA graduate from Imphal and a shareholder in the company was studying the detailed annual report just received by her for the year ended March 31, 20X7. She observed that the profits before tax for the year have substantially improved to ₹95,00,000. Khushi also took note of the following in the notes to the accounts:

• Amrapalli Hotels Limited has changed the method of inventory valuation from LIFO to FIFO in the current year. The difference in the cost of goods sold due to the change is ₹97,500. Khushi is aware that during the year ending 31.3.20X7, the cost of all materials bought by Amrapalli Hotels Limited was steadily increasing and the inventory stock was also increasing.
• Amrapalli Hotels Limited has written back to the Profit and Loss Account, a provision of ₹99,99,000, which it had made in the previous year for excise penalty. Khushi is also aware that the suit is still pending and it is highly unlikely that it would be decided in favor of the company.
• At Amrapalli Hotels Limited, depreciation has been provided on the written down value method during the current year, while in the previous year, it was provided on the straight-line method. The difference in depreciation expensed due to the change in the method has been calculated as ₹99,99,000.

Khushi decided to rework the profits to make them comparable with the past year profits. Please help Khushi in doing the same.

Please suggest the broad contents of the notes to accounts to be appended to the financial statements to ensure adequate information regarding the above changes.