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Following balances are taken from the adjusted trial balance of a service business: Capital OMR 10,000; Cash OMR 4,500; Service revenue 12,500; Interest expense OMR

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Following balances are taken from the adjusted trial balance of a service business: Capital OMR 10,000; Cash OMR 4,500; Service revenue 12,500; Interest expense OMR 2,500; Interest received OMR 4,000; Prepaid rent OMR 3,000; Rent expense OMR 15,000 and prepaid salary OMR 1,200. What will be the net profit or net loss of the business? a. Net profit of OMR 1,000 b. Net profit of OMR 1,700 c. Net loss of OMR 500 d. Net loss of OMR 1,000

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