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18. From the following, calculate the gross profit: ( Sales $200,000 Electricity expense $3,500 Sales returns $2,000 Opening inventory $12,000 Purchases $125,000 Salaries expenses $6,000

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18. From the following, calculate the gross profit: ( Sales $200,000 Electricity expense $3,500 Sales returns $2,000 Opening inventory $12,000 Purchases $125,000 Salaries expenses $6,000 Advertising expense $4,500 Closing inventory $20,000 Insurance expense $6,000 Delivery outwards $4,500

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