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3 Vitaly owns and runs a general store. In the year ended 31 March 2015 he made a gross profit of $21500. During the same

3 Vitaly owns and runs a general store. In the year ended 31 March 2015 he made a gross profit of $21500. During the same year he incurred the following expenditure: $ Rent Wages 750 8000 Insurance 400 Purchase of new weighing scales 2340 Motor expenses 1100 Light and heating expenses 500 Stationery and advertising 250 Bank charges 135 Purchase of a new delivery van 15600 General expenses 185 Money spent on family holiday 2300 Required Prepare the profit and loss account for the year ended 31 March 2015

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