Use the information below to answer question . .........................31 Dec. 05........31 Dec. 06 Total fixed...

JAMB 2008

Use the information below to answer question .

.........................31 Dec. 05........31 Dec. 06

Total fixed assets.........N7 800............N6 600
Total current assets.......N12 100............N17800
Total current liabilities..N4 700............N3 800

Drawings for 2006 is N5 200.

What is the net profit for 2006?

A. N19 000
B. N16 000
C. N12 600
D. N10 600

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Correct Answer: Option D

Explanation

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