1. Below you will find information regarding all sales and purchases of inventories made by Pioneer Ltd during January 2011:
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3. On January 4th, Pioneer purchased inventories on credit for £30,000. 
4. On January 14th, Pioneer made cash sales of £34,000. 
5. On January 19th, Pioneer bought some more inventories for £27,000 and paid for them in cash. 
6. On January 27th, Pioneer made a sale on credit for £55,000. 
7. On January 31st, the closing inventories in Pioneer’s warehouse totalled £18,000. 
8. The opening inventories on January 1st totalled £10,000. 
9. What is the gross profit or loss made by Pioneer Ltd during January 2011?