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Q2 . Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information Gross sales RO 53400 Purchase Discount

Q2 . Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information

Gross sales RO 53400 Purchase Discount RO 1675

Bank charges RO1654 Closing stock RO 11870

Cash RO 3200 Other Income RO 765

Owners Equity RO 76000 Building RO 32000

Depreciation RO 1230 Salaries RO 3450

Electricity RO 780 Sales Discount RO 6230

Freight in RO 1450 Sales returns is RO 4350

Opening stock is RO 7680 Purchases RO 16550

Machinery RO 21000 Purchase return RO 1240

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