A business made sales of $30,000 during a month. Purchases amounted $18,000 and closing inventory was $4,000. Expenses paid were $5,000. Owner withdrew cash amounting $6,000.What is net profit for the month?Answer:

Brewery Ltd made net sales of $39 700 and its gross profit was $29 100 for the same period. If the opening stock was $15 860 and net purchases $18 615, what was the value of closing stock

If a firm has a closing inventory of Rs. 25,000, direct expenses incurred during the year are Rs. 48,000, and the sales are Rs. 1,35,000. What is the amount of gross profit earned during the year? Rs. 62,000 Rs. 1,12,000 Rs. 1,58,000 Rs. 76,000

A business has fixed costs of $3,570 per month and the product sells for $105. The variable cost is $26 per unit.The business wishes to make a profit of $4,227 AFTER tax.How many units must be sold? Answer in whole units only.

Identify the different names given to the income statement.Define each of the following terms and, where relevant, write down the mathematical equation that would help in calculating the figure.SalesCost of goods soldGross profitNet profitCalculate the cost of goods sold (COGS), given the following information:  $Sales 700 000Stock (opening) 100 000Purchases of stock 400 000Closing stock 50 000Using the figures from question 3, calculate gross profit.Using your workings from questions 3 and 4, calculate the value of net profit (or loss) if expenses for the period totalled $80 000.Anita Toparis owns and operates Petal’s Florist. Last year Anita had a sales revenue of $285 000. Her cost of goods sold totalled $115 000. Her operating expenses were: electricity $5000, advertising $11 000, interest charges $5000, salaries $62 000 and rent $25 000. Construct an income statement (statement of financial performance) for Anita and tell her whether she has made a net profit.Distinguish between selling, administrative and financial expenses, giving examples for each.Explain how an income statement can provide useful information to a business and its stakeholders.

A small but growing online retailer, Nile Corporation, has shown impressive growth in sales over the past several years, with sales this past year at $763,000.If the company has a net profit margin of 5.5 percent, what would its net profit be (in dollars)? (Display your answer as a whole number.)   If in the next year the company achieves its revenue growth target of 7 percent, what would its total revenue be? (Display your answer as a whole number.)   If in the next year the company achieves its revenue growth target of 7 percent, and assuming its profit margin remained unchanged at 5.5 percent, what would its total profit be for next year? (Display your answer as a whole number.)   If the company achieves its revenue growth target of 7 percent, by how many dollars will revenue increase? (Display your answer as a whole number.)   If the company achieves its revenue growth target of 7 percent, by how many dollars will net profit increase? (Display your answer as a whole number.)   Using the original revenue number of $763,000, if the company spends 50 percent of its revenue on purchases, what would be its purchasing expense? (Display your answer as a whole number.)   Assuming that revenues stayed flat (meaning the company did not try to increase sales by the 7 percent target), by what percentage would they have to decrease purchasing expenses to equal the increased profit that would have come from a 7 percent increase to revenues? (Write your answer as a percentage, and display your answer to two decimal places.)