2020 R Sales 1 024 000 (462 000) 562 000 24 000 24 000 586 000 (173 000) Cost of sales Gross profit Add: Other operating income Services rendered Gross operating income Less: Operating expenses Rent expense Rates and services Internet expense Wages and salaries Security expense Insurance expense Telephone Credit losses Depreciation Operating profit Add: Interest income Profit before interest expense Less: Interest expense Net profit for the year 36 000 15 000 10 000 25 000 20 000 12 000 30 000 5 000 20 000 413 000 8 000 421 000 (9 000) 412 000 2020 R Sales 1 024 000 (462 000) 562 000 24 000 24 000 586 000 (173 000) Cost of sales Gross profit Add: Other operating income Services rendered Gross operating income Less: Operating expenses Rent expense Rates and services Internet expense Wages and salaries Security expense Insurance expense Telephone Credit losses Depreciation Operating profit Add: Interest income Profit before interest expense Less: Interest expense Net profit for the year 36 000 15 000 10 000 25 000 20 000 12 000 30 000 5 000 20 000 413 000 8 000 421 000 (9 000) 412 000