Johnny's Car Repair Shop started the year with total assets of $60,000 and total liabilities of $40,000. During the year the business recorded $100,000 in car repair revenues, $55,000 in expenses, and dividends of $10,000. The net income reported by Johnny's Car Repair Shop for the year was... Following information is available for the year 2019-20, :Revenue from operation : Cash 25000 Credit 75000, Purchase Cash 15000 Credit 60000, Carriage Inward 2000, Salaries 25000, Decrease in inventory 10000, Return outward 2000, Wages 5000. Compute the following: Cost of revenue from operation will be: OPTIONS 88000 89000 92000 90000 Gross profit will be: OPTIONS 15000 10000 9000 12000 Net purchase will be: OPTIONS 70000 72000 73000 71500 Gross profit ratio will be: OPTIONS 15% 20% 22% 10% Revenue from operation will be: OPTIONS 100000 112000 115000 125000