Accounting – 5.1 Sole traders | e-Consult
5.1 Sole traders (1 questions)
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Answer 1
ABC Retail
Income Statement
For the year ended 31 December 2023
| Sales Revenue | £80,000 |
| Cost of Goods Sold | £48,000 |
| Gross Profit | £32,000 |
| Other Income | £2,000 |
| Other Expenses | £10,000 |
| Net Profit | £24,000 |