ILLUSTRATION 7 (When profit as per financial accounts is given). A company maintained separate cost and financial accounts, and the costing profit for the year 2019 differed to that revealed in financial accounts, which was shown as $50,000. Following information is available. Cost Accounts Financial Accounts $ $ Opening Stock of Raw Materials 5,000 5,500 Closing Stock of Raw Materials 4,000 5,300 Opening Stock of Finished Goods 12,000 15,000 Closing Stock of Finished Goods 14,000 16,000 (ii) Dividends of $1,000 were received by the company. (iii) A machine with net book value of $10,000 was sold during the year for $8,000. (iv) The company charged 10% interest on its opening capital employed of $80,000 to its process costs. You are required to determine the profit figure which was shown in the cost accounts