Calculate the net profit.
...
Calculate the net profit.
A.
N35,000
B.
N40,000
C.
N105,000
D.
N115,000
Correct answer is C
Net profit = Gross profit - expenses
To get gross profit subtract cost of goods sold from sales. Hence we have;
370,000 - 230,000 = 140,000
Net profit = 140,000 - 35,000 = 105,000
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