Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ \text{Ret...

Answer Details

To calculate the net profit, we need to subtract all the expenses from the total sales after adjusting for returns and discount received and adding the closing stock. Total sales = 14,600 Less: Returns inward = 150 Net sales = 14,450 Add: Closing stock = 250 Gross profit = 14,700 Now, we need to subtract all the expenses from the gross profit to get the net profit. Gross profit = 14,700 Less: Purchases = 5,500 Add: Opening stock = 100 Net purchases = 5,600 Add: Rent = 2,000 Add: Salaries = 1,000 Total expenses = 8,600 Net profit before discount received = 6,100 Add: Discount received = 400 Net profit = 6,500 Therefore, the net profit is N6,500. Hence, the correct option is (d).