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Natural Blacks trial balance at 31 March 2020 was as follows: Chart of Account Debit $ Credit $ Sales revenue 55 000 Inventory- 1 Apr

Natural Blacks trial balance at 31 March 2020 was as follows:

Chart of Account

Debit $

Credit $

Sales revenue

55 000

Inventory- 1 Apr 2019

5 000

Purchase of goods for re-sale

20 500

Wages & salaries expenses

6 000

Rent and electricity expenses

12 600

Carriage inwards charges

1 320

Carriage outwards charges

1 080

General administrative cost

1 250

Plant and Machinery cost

8 000

Office Equipment cost

1000

Receivables & Payables

1 900

800

Bank balance

15 820

Cash drawings

6 330

Capital

25 000

Total

80 800

80 800

Note

1. Inventory 31 March 2020 $ 3 000

2. Depreciation on all non-current assets at the rate of 20% p.a straight- line method

The net profit for the year ended 31 March 2020 is .........................

Exclude $, and space from your answer

Example: $9,800 is to be inputted as 9800

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