4. During the year ended 31 December, the business made sales of 45,000 and purchases of 25,000. The inventory at the beginning of the year was valued at 8,000 and, at 31 December, 4,500. The gross profit for the year was: (2 Points) a) 23,500 O b) 20,000 O CJ16,500 O d)32,500 5. John has made the following predictions for his business for the first six months of trading to 30 June 2018: Sales in Jan, Feb and March = 20,000 per month Sales in Apr, May and June = 25,000 per month Sales will be on one month's credit The trade receivables figure as at 30 June 2018 will be: (2 Points) O a) 20,000 O b) 25,000 O c) 40.000 O d) 45,000 6. Which of the following is a record of all the account balances at the year end, and is used to prepare the final accounts? (2 Points) O a) A trial balance Ob) A statement of financial position c) A statement of cash flows O d) Income statement