Marina Corporation
Comparative Statements of Income and Retained Earnings
Sales revenue
Cost of goods sold
Gross profit
Payroll expense
Insurance expense
Rent expense
Depreciation
Total expenses
Operating income
Interest expense
Gain on vehicle sale
Loss on sale of securities
Interest revenue
Net income before interest and
taxes
Income taxes
Net income
Dividends
Total retained earnings
Retained earnings 1/1
Retained earnings
2018
P 700,000
500,00
P 200,000
P 50,000
30,000
18,000
35,000
P 133,000
P 67,000
(7,000)
25,000
(25,000)
75,000
P 135,000
2017
P Change
P 650,000 P 50 000
455,000
45 000
P 195,000 P 5 000
P 42,250 P 7 750
29,000
1 000
18,000
--15,000
20 000
P 104,250 P 28 750
P 90,750 P (23 750)
(5,000)
(2 000)
--25 000
--- (25 000)
50,000
25 000
P 135,750
(750)
% change
7.692%
9.890%
2.564%
18.343%
3.448%
--133.333%
27.577%
-26.170%
40%
----50%
-552.486%
40,000
95,000
38,000
P 57,000
P 193,500
P 250,500
40,250
95,500
38,000
P 57,500
P 136,000
P 193,500
-621.118%
-523.560%
---869.565%
42.279%
29.457%
(250)
(500)
--(500)
57 500
57 000