Muscat Bakery LLC bought a Toyota Hiace Van for its business in July 2018. The cost of the Van is RO 12000 and the useful life is 5 years. The depreciated was provided in the accounts using Declining Balance method. The company sells the van on 31 Dec 2020 for RO 6000. The amount of Profit loss to the transferred to the Income statement will be O a. RO 912 Profit O b. RO 912 Loss OC RO 120 Loss O d. RO 1728 Profit In the year 2019 XYZ LLC had net sales is RO 55000 and gross profit is RO 8250. The net sales in 2020 is RO 75000 then the gross profit will be O a. RO 63750 O b. RO 8250 OC RO 11250 O d. RO 46750