The statement of profit and loss for JT Andrews for the financial year ended 30 June 2019 reports that the business had increased its gross profit from $123 000 in 2018 to $147 000 in 2019. Its net profit for 2019 was $59 000 compared with $49 000 in 2018.
Suggest reasons why Required:
a the gross profit may have risen b the net profit changed.