Q2 prepare a trading account using the following details and find out gross profit

Q. 1. From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2014, calculate the gross profit. Closing stock Net sales during the year Net purchases during the year Opening stock Direct expenses 2,50,000 40,00,000 15,00,000 15,00,000 80,000 Opening stock Credit purchases Cash purchases Credit sales Cash sales Wages Salaries Closing stock Sales return Purchases return 25,000 7,50,000 3,00,000 12,00,000 4,00,000 1,00,000 1,40,000 30,000 50,000 10,000