*25.5 A company's income statement for the year to 31 March 2010 is as follows:

£ £

Sales 254,628 Less: Cost of sales 112,876

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Gross profit 141,752 Add: Profit on sale of tangible fixed asset 542 Other income 15,000 15,542

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157,294 Less: Distribution costs 32,189 Administrative expenses 42,974 Interest payable 22,876 98,039

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Net profit 59,255

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