The following balances were extracted from the books of Onuoha, a trader on 31st December 2005
| Audit fee | 12000 |
| General expenses | 30000 |
| Purchases | 70000 |
| Commission paid | 30000 |
| Stock (1 - 01 - 2005) | 10000 |
| Stock ( 31 - 12 - 2005) | 15000 |
| Sales | 120000 |
The gross profit is
a
#35,000
b
#45,000
c
#55,000
d
#25,000
Explanation
Correct Option
cVideo Explanation
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