The London Head Office sent goods to California branch at 25% profit over costs. From the following details, prepare the Branch Account in the Head Office books and ascertain the net profit at the branch: $ Opening stock of goods at branch at invoice price 20,000 Goods sent to branch at invoice price Loss of goods in transit at invoice price 90,000 6,000 Pilferage at branch at cost to branch Closing stock at branch at its cost Sales at branch 1,200 16,000 1,05,000 Salaries and wages at branch 6,000 Other expenses at branch 3,000