$ $ $

Sales /turnover 210,000

Less: Cost of goods sold:

Opening stock / opening Inventory 35,000

Purchases 115,000

Cost of goods available 150,000

Less: closing stock/ending inventory 15,000

Cost of goods sold 135,000

GROSS PROFIT 75,0000

Less: Expenses

Staff /wages/salaries 43,000

Lighting 5,200
Fixed assets/Non-current
assets General expenses 4,000
$ $
telephone
Land & Building 80 000 ------- 2,800
Shop fixtures 18 000 -------
Total Expenses 55,000
Motor car 35 000 -------
NET PROFIT 133000 20,000

Current assets 75000

Ending Inventory 15,000
A/c Receivables or Debtors 35000
Bank & Cash 20000
70000
Total assets 203000

Less: Current liabilities

A/c payable or creditors 50 000
3 000
Total liabilities 53 000

Capital
Opening capital 140 000
Add net profit for the year 20 000
160 000
Less: Drawings 10 000
Total capital 150 000

203 000