Use the information below to answer questions

........................31/12/08...........31/12/09

Furniture and fittings..N21 000,............N28 000

Office equipment........N9 800,.............N13 200

Debtors.................N6 800,.............N5 200

Creditors...............N4 900,.............N5 100

Cash at bank............N7 000,.............N4 600

Accrued electricity bills...................N1 200

Monthly drawings average N330.

Determine the net profit ?

  • A N5 000
  • B N3 960
  • C N1 040
  • D N8 960

The correct answer is D. N8 960

No explanation given
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