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

The correct answer is D. N10 600

No explanation given
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