Reference no: EM132940620

Question - In an accounting conference, discussion turned to the possibility of preparing of financial statement from the key accounts, together with the financial or cost accounting ratios. The General Manager of the participating firm provided the following data; pretax income of the year, Rs. 1200000; the rate of pretax income rate on sales is 10%; Gross profit rate is 45%; rate of marketing expenses to sales, 20%; 7% bonds payable represent 37.5% of the total liabilities of Rs. 2000000. Make an Income statement for the year based on the above information.