Calculate net profit for managerial remuneration from the following information: Particulars Salaries and wages Repairs Miscellaneous expenses

Calculate net profit for managerial remuneration from the following information:

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Particulars Salaries and wages Repairs Miscellaneous expenses Workmen compensation (including 3,000 legal compensation) Compensation for breach of contract Donation to charitable fund Interest Depreciation (7,500 as per Schedule XIV) Loss on sale of investment Provision for tax Proposed dividend Scientific research (new installation) Director's remuneration Net profit after appropriations Amount (2) 12,000 6,500 10,500 4,250 4,250 500 5,500 11,000 500 1,01,000 75,500 57,500 10,000 2,98,500 5,97,500 Particulars Gross profit Subsidies from government Profit on sale of fixed assets (cost *90,000 and WDV 30,000) Amount (*) 5,10,500 12,000 75,000 5,97,500