Use the information above to answer the question
Calculate the net profit.
- N35,000
- N40,000
-
N105,000
- N115,000
The correct answer is: C
Explanation
Net profit = Gross profit - expenses
To get gross profit subtract cost of goods sold from sales. Hence we have;
370,000 - 230,000 = 140,000
Net profit = 140,000 - 35,000 = 105,000