Q$.13.$ Here is the statement of profit or loss of Ibrahim, a trader.

Statement of profit or loss for year ended $5$ April $2023$

$$

Gross profit

Bank interest received

Expenses

Wages and salaries $($note $1)$

Rent and rates

Depreciation

Impairment losses $($trade$)$

Entertainment expenses for customers

Patent royalties paid

Legal expenses on acquisition of new factory

Bank interest paid

Net profit

$59,000$

$8,000$

$1,500$

$150$

$750$

$3,200$

$250$

$(72,000)$

$(300)$

$17,710$

$17,710$