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Information below relates to transactions for Thabith Enterprises. Calculate 1. Net sales (1.5 Marks) 2. Cost of goods sold (2.5 Marks) 3. Gross Profit

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Information below relates to transactions for Thabith Enterprises. Calculate 1. Net sales (1.5 Marks) 2. Cost of goods sold (2.5 Marks) 3. Gross Profit /Loss (1.5 Marks) 4. Net Profit (2.5 Marks) Sales OMR 84000 Opening Inventory OMR 13600 Purchases OMR 36600 Purchase returns OMR 1750 Bank OMR 4500 Closing Inventory OMR 15550 Salary expense OMR 11200 Dividend Income OMR 1250 Sales Return OMR 3210 Other income OMR 1450 Freight In OMR 1200 Electricity expenses OMR 3670 Sales Discount OMR 760 Purchase discount OMR 900 Insurance expense OMR 3500 Rent expense OMR 4600 Account Payable OMR 1400 General Expenses OMR 11400 Interest Expenses OMR 1960 Furniture OMR 18000

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