KPT Enterprises
COMPARITIVE INCOME STATEMENT
for years ended 31 December
			2020	2021
Revenues and gains
*Sales revenue			277,000
*Interest revenue			168,400
*Investment Income			91,875
*Other revenue			91,500
Total revenue and gains			628,775
Expenses and losses
**Cost of goods sold			55,000
**Selling and admin administrative			125,000
***Computer (operating)			53,500
**Depreciation			53,500
**Interest expense			35,000
Total expenses and losses			322,000
Income before taxes
Income tax expense (25%)
Net Income

e. Complete the formulas in cells provided for revenues* for 2021. 2021 revenues have Increased by 1/2% over 2020 values.

f. Complete the formulas in cells provided for expenses for 2021. 2021 expenses have decreased by 1/4% over 2020 values

g. Using the correct function or formula calculate the total expenses and losses in the cells provided.

h. Using all relevant cells calculate the income tax expenses for each year.

i. Using the correct function or formula calculate the net income.