Calculate the net profit from the information below?

Incomplete Record (Extract)

Sales………………………………..N10,600
Rent………………………N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%

A. N1 620
B. N1 920
C. N1 420
D. 2 120

Correct Answer:

Option C – N1 420