The following information was obtained from the accounting records of Cool Limited for the year ended 28 February 2022: R Inventory (1 March 2021) 149 500 Sales 750 000 Purchases 540 000 Sales returns 1 500 Purchases returns 2 000 Freight charges on purchases 650 Freight charges on sales 1 700 Settlement discount granted 350 A physical inventory count on 28 February 2022 indicated that the value of the closing inventory on hand amounted to R400 000. Required: Use the information provided above to calculate the gross profit/loss of Cool Limited for the year ended 28 February 2022. The entity uses the periodic inventory control system. NB: Instructions 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Only show the amount, do not show the R (eg: 12141.72) 3. If the total amount calculated is a loss, please enter the amount as a negative (eg: -12141.72), if the amount calculated is a profit, please enter the amount as a positive (eg: 12141.72)