Sales of an enterprise during the year ended 31st march 2018, was 320000. It's sales return were 20000,opening stock 50000, purchase made by firm during the year 100000, cartage 5000, wages 15000. Closing stock 20000,salaries 12000, loss on sale of furniture 1000, gain on sale of old machine 3000, firm paid 2000, Interest on loan 20000. Calculate the gross profit, operating profit , net profit.
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Answer:
gross profit = sale - cost
cost = opening stick + purchase + direct expense - closing stock
= 50000+100000+5000+15000-20000
=150000
gross profit =(320000-20000)-150000
=150000
operTing profit = grossprofit - operating expense
= 150000-12000
=138000
net profit = operating profit - non operating expenses + mobile rating income
= 138000- 1000-2000+3000
=138000
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