Salleh Trading

Statement of Profit or Loss for the year ended 31 March 2022

RM RM RM
Sales 340,000
Less: Return inwards (2,400)
Less: Discount allowed (3,500)
NET SALES 334,100
Less: Cost of goods sold
Opening inventory 68,000
Add: Purchases 100,000
Less: Return outwards (1,260)
Less: Discount received (4,700)
94,040
Cost of goods available for sale 162,040
Less: Closing inventory (37,700)
124,340
GROSS PROFIT 209,760
Add: Other income
Rent income 16,000
Commission income 7,200
23,200
TOTAL INCOME 232,960
Less: Other expenses
Office expenses 400
Rent expenses 3,120
Delivery expenses 2,700
General expenses 800
Salaries and wages 19,000
Rates and insurance 3,040
Carriage outwards 800
TOTAL EXPENSES 29,860
NET PROFIT 203,100