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2. Third heading

  • Salaries; Van expenses; Van insurance (1200 x 3/6)
  • Salaries; Van expenses + Van insurance (1200 x 3/6)
  • Salaries; Rent and rates + Van insurance (1200 x 3/6)

3. First heading with figure

  • Cost of sales
  • Profit for the year
  • Sales
  • Purchases

4. Final result:

  • Total Income
  • Gross Profit
  • Net profit
  • Total sales

5. Advising how amount charged for loan and bank interest could be reduced

  • Arrange loan instead of over draft; incerase sales; reduce drawings; new loan or O/D at lower rate
  • Increases cost of sales; decreases gross & net profit:reduces assets in balance sheet

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