Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.
Trading Expenses the figures given, calculate
Net profit
| stock Purchase | 1000 7000 | Sales | 8000 |
| Closing Stock | 3000 |
Trading Expenses the figures given, calculate
Net profit
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Correct Answer: Option C
Explanation:
Net profit = Gross profit - Expenses
3000 - 1400 = 1600
Net profit = Gross profit - Expenses
3000 - 1400 = 1600