29 You are given the following information about Percy as at 31 March 2012: The value of assets and liabilities were Non-current assets at carrying value K14,000 Bank K2,500 Trade payables K10,300 Opening capital (at 1 April 2011) K3,700 Drawings for the year K1,500 There were no other assets or liabilities. Calculate the profit for the year ended 31 March 2012. The following information is available about the transactions of Rascal, a sole trader who does not keep proper accounting records: K Opening inventory 75,000 Closing inventory 86,000 Purchases 840,000 Gross profit margin 30% Based on this information, what is Rascal's sales revenue for the year? 30