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Irfan Automobiles Ltd. was registered on 01-01-2014 with a Capital of OMR 400,000 with the purpose of buying and selling Motorcycles. The purchase price of

Irfan Automobiles Ltd. was registered on 01-01-2014 with a Capital of OMR 400,000 with the purpose of buying and selling Motorcycles. The purchase price of motorcycle was OMR 4,000 on 01- 01- 2014 and OMR 5,000 on 31-12-2014. The general price level increased by 20% during the year 2014. The company purchased 5 motorcycles on 01-01-2014 and sold 3 motorcycles during the year at an average price of OMR 7,000. What is the amount of Holing Gain?

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